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NFT News

What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well. 

In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such. 

Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.

Analysis
Facebook is exploring NFT-functionality in its Novi–Diem ecosystem, but how will the technological solution measure up to existing platforms?
Novi-FT? Facebook’s NFT support may not drive crypto adoption
Gareth Jenkinson
2021-09-11T13:14:00+01:00
4592
Market Analysis
Ethereum competitors and layer-one projects are capitalizing on the network’s untenable gas fees by launching mining and developer incentives that are also boos...
Altcoin Roundup: High Ethereum fees kick-start a liquidity migration to layer-1 platforms
Jordan Finneseth
2021-09-10T23:05:00+01:00
28971
News
The leading NFT platform records a natural decline in sales volume after surpassing $4B in August; an industry-record.
OpenSea’s NFT volume down 50% after monumental surge in August
Tom Farren
2021-09-10T22:15:00+01:00
10378
Newsletter
Lobsters support DeFi’s endeavours amid regulatory clampdowns — all that and more, only in Finance Redefined.
Finance Redefined: DeFi’s $4M lobsters and Solana gaming, Sept. 6–10
Tom Farren
2021-09-10T18:00:00+01:00
7920
News
The local news publication, acting as the party's spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops.
Chinese Communist Party warns of NFT hype bubble
Tom Farren
2021-09-10T17:00:00+01:00
5477
News
Yuga Labs auctioned off collections of Bored Ape Yacht Club and Bored Ape Kennel Club NFTs that generated $24 million and $1.83 million, respectively.
101 Bored Apes NFT auction at Sotheby's closes at more than $24M
Brian Quarmby
2021-09-10T02:48:45+01:00
14508
Altcoin Watch
Institutional investment, new governance features and a groundbreaking project with the government of El Salvador are just a few of the factors behind ALGO’s ra...
Here’s why Algorand's price just rallied to a new multi-year high
Jordan Finneseth
2021-09-10T01:09:32+01:00
32357
News
As a result of the system bug, a total of 42 NFTs were burned in the course of 30 transactions.
OpenSea bug appears to have destroyed nearly $100K in NFTs
Arijit Sarkar
2021-09-09T19:00:00+01:00
12604

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