Značka: NFT marketplace

Associated Press to launch Polygon-based photography NFT platform

The Associated Press (AP) is launching a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized photographs from the global news platform.The initial collection of NFTs will include photographs of subjects like space, climate, and war from AP photojournalists. They will be released over several weeks starting on Jan. 31 for varying prices, according to the marketplace’s website.The photographs will be minted as NFTs on the Ethereum layer-two scaling network, Polygon. The platform will support secondary transactions using debit or credit cards, and payments in Ethereum. The marketplace is being built by Xooa, a blockchain infrastructure platform specializing in building “white-label NFT marketplaces for brands and IP owners.” Head of marketplaces at Xooa, Zach Danker-Feldman, said the partnership will serve as a “powerful connection between the virtual world and the real world.”Crypto wallet provider Metamask is also supported, with future collaborations with Fortmatic, Binance, and Coinbase on the cards. Additional upcoming features will include “withdrawals to other marketplaces,” “social media capabilities,” “new content concepts,” and “off-chain benefits” for NFT holders. Once every two weeks, there will be a “Pulitzer Drop,” which will include Pulitzer Prize-winning photographs. Each NFT will include the photograph’s detailed metadata such as the time, date, location, equipment, and technical settings used for the photograph. According to an announcement from the AP, funds from the NFT sales will go back into funding AP journalism. The Associated Press is a 175-year-old non-profit news cooperative based in New York City. Although the platform will allow secondary market sales, it will charge a hefty 10% fee. Related: CNN selling historic news ‘moments’ as NFTsThis is not the news agency’s first foray into blockchain technology. In October 2021, The AP partnered with Chainlink Labs to ensure any data from its U.S. newspaper and broadcaster members would be cryptographically verified.In 2020, the AP used the Ethereum and EOS blockchains to publish the results of the presidential election. Furthermore, in 2018 it partnered with blockchain-based journalism startup Civil to facilitate its plans to track content usage and secure intellectual property rights. The AP is not the only news organization showing interest in the potential uses of blockchain in the journalism industry. In June 2021, CNN launched its NFT project “Vault by CNN: Moments That Changed Us.” The collection tokenized a series of historic “news moments” from the news company’s 41-year history.

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3 reasons why Solana (SOL) price could see additional upside in 2022

Solana (SOL) has become a top contender in the smart contract industry and in the past year, the network’s total value locked (TVL) grew by $660 million and stretches across more than 40 decentralized applications to hit an all-time high above $11 billion.Even with this growth, investors have reason to question whether the current $56 billion market capitalization is justified and how it compares to competing networks like Binance Smart hain (BNB), Avalanche (AVAX) and Polygon (MATIC).Avalanche, Solana, Binance Coin, and Polygon, priced in USD. Source: TradingViewBy analyzing the past six-month price performance, there’s an apparent decoupling from Terra (LUNA), Solana and Avalanche when compared to other smart contract platform competitors.There is strong institutional appetite for Solana’s ecosystemSolana’s market capitalization is more than double that of Avalanche and Terra, each of which has a $26 billion market cap. Searching Solana’s latest news on Cointelegraph yields an exciting array of institutional investments, ranging from the $314 million private token sale by Solana Labs in June, to an $18 million fundraise in September by Solana’s DEX project Orca.There’s solid evidence of a growing ecosystem judging by investor appetite. However, to understand how successful Solana’s scalability solution is, we have to evaluate its usage metrics.Looking at the number of active addresses on Solana’s DApps is a good place to start.Solana, Ethereum, Avalanche and Polygon 7-day most active dApps. Source: DappRadarEthereum’s leading DApp by active addresses is Uniswap, which has 188,200. Therefore, Raydium’s 97,600 weekly users is rather impressive, considering it was launched just 10 months ago. Meanwhile, back in Feb. 2021, Uniswap already held over $4.3 billion TVL.As for Solana’s NFT marketplace Magic Eden, its 58,400 weekly active addresses also account for more than half of Ethereum’s OpenSea, the sector’s absolute market leader in volume and users activity.Avalanche user activity is highly concentrated on the Trader Joe decentralized finance app, but its $715 million weekly volume pales in comparison to Uniswap’s $22.1 billion or Raydium’s $12.5 billion. The same can be said by Polygon, which has $573 million in trading activity at its QuickSwap DEX.Solana has the third largest futures marketSolana currently holds the third largest futures open interest, which is the most relevant metric in derivatives contracts. This indicator aggregates the total number of contracts held by market participants regardless of the recent trading activity.Solana futures aggregate open interest. Source: CoinGlassDespite the sharp drop since the Nov. 8 peak at $1.9 billion, the current $860 million futures open interest ranks Solana the third derivatives market by size. For example, Binance Coin (BNB) futures holds $520 million, followed by Terra (LUNA) with $430 million.Solana leads in TVL, users and derivatives marketsUndoubtedly, there’s an impressive amount of activity coming from Solana’s on-chain data and derivatives markets. The network’s TVL increased by 15x over the past six months and Solana’s DApps users is nearly half the amount of users on the Ethereum network.Solana seems to be quickly closing the gap in three important metrics: TVL, active users and derivatives markets. Competitors like Terra, Avalanche and Polygon seem a long way behind, which possibly justifies the market capitalization premium.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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