News
The first auction on Sotheby’s Metaverse will go live on Oct. 18, with the auction featuring prominent collections such as Bored Ape Yacht Club, MoonCats and CryptoKitties.
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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.
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To address concerns around the simplicity of play-to-earn games, a GameFi metaverse aims to create interoperability with editable NFTs.
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The CEO of the British bank believes stablecoins, CBDCs and even NFTs will likely outgrow cryptocurrencies.
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Sanchan Saxena, the vice president of product at Coinbase, said yesterday that the “insane” amount of traffic from signing up to the waitlist temporarily broke the site.
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The UK gambling watchdog is trying to determine whether fantasy NFT soccer game Sorare should be required to have a gambling license.
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Guy Oseary has signed on to represent Yuga Labs in the entertainment sector, with the Bored Ape Yacht Club NFT project slated to expand into music, gaming, TV and film.
3605 - Opinion
Innovation in the NFT space moves about as fast as the prices. Here’s a rundown of the most recent developments.
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With 68 million verified users and 8.8 million monthly active users as of Q2 2021, Coinbase’s entry into the NFT industry could provide competition for established marketplaces like OpenSea.
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XDEFI will challenge MetaMask’s dominance of the browser wallet space by offering a new user experience for decentralized finance and nonfungible tokens.
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A cross-chain DeFi and NFT farming project plans to release 400 collectible chimps as part of efforts to remove intermediaries and connect artists with audiences on the blockchain.
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A growing mainnet blockchain is taking a greener stance on trading digital assets. Here, team members share the growth prospects of this industry and how they attempt to reduce greenhouse gas emissions.
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After launching its NFT marketplace last month, FTX.US has expanded support to the Solana blockchain and plans to integrate Ether tokens soon, too.
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“We can’t wait to continue turning powerful, exclusive, behind-the-scenes moments into digital assets that help fuel progressive objectives,” said Front Row co-founder Parker Butterworth.
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Following the competition, a replica of Carlsen’s NFT trophy was auctioned off to a fan for 6.88 ETH.
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The gaming industry is rapidly growing, and the emerging play-to-earn model coupled with blockchain and the Metaverse is the future.
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