Značka: NFTs

Meta enables Instagram NFT integration in over 100 countries

According to a Meta newsroom post updated on Thursday, the Mark Zuckerberg-led company has begun its nonfungible token (NFT) expansion across 100 countries in Africa, the Asia-Pacific, the Middle East and the Americas. This includes adding support for wallet connections with Coinbase Wallet and Dapper as well as the ability to post digital collectibles minted on the Flow blockchain. The initial rollout targets the popular social media app Instagram.One needs to simply connect their digital wallet to Instagram to post an NFT, the company said in its updated post. Third-party wallet integrations with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet are either complete as of Thursday or are coming soon. Supported blockchains at this time are Ethereum, Polygon and Flow. There are no fees associated with posting or sharing a digital collectible on Instagram.Mark Zuckerberg announced we’re rolling out digital collectibles to 100 more countries. Now, more people, creators and businesses can showcase their #NFTs on @instagram.We’re also launching integrations with @CoinbaseWallet @hellodapper and support for @flow_blockchain.— Meta Newsroom (@MetaNewsroom) August 4, 2022Flow is a layer-1 blockchain with its namesake FLOW token acting as tender for network participation, transactions and governance. Notable ecosystem partners include Warner Music, Ubisoft, National Basketball Association, Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea and now Meta.Related: FTC files lawsuit against Meta over attempted monopolization of metaverseAlong with the metaverse, digital assets appear to have become one of Meta’s core components for expansion. During the second quarter of 2022, the company’s revenue fell 1% year over year to $28.8 billion while its operating income decreased by 32% to $8.36 billion in the same period. CEO Mark Zuckerberg said he was unfazed by the whopping $2.8 billion loss in the company’s Metaverse division, and that instead there was an opportunity to make “hundreds of billions,” or even “trillions,” of dollars as the sector matures.

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Crypto users spent $2.7B minting NFTs in first half of 2022: Report

According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting nonfungible tokens (NFTs) on the Ethereum blockchain in the first half of 2022. An overwhelming majority of minting took place on OpenSea.io. Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison, about $107 million worth of NFTs were minted on BNB Chain and $77 million for Avalanche. A total of 263,800 unique wallet addresses were involved in NFT minting on the two blockchains.1/ Market participants spent 963,227 $ETH (approximately $2.7b) on minting NFTs in the first half of 2022.So what did the NFT projects do with the money they raised? Read our latest research here: https://t.co/ifgKdTnF9S— Nansen (@nansen_ai) August 2, 2022Sixty-nine NFT collections launched on May 22 alone, resulting in daily minting volume surpassing 120,000 ETH. The total number of NFT collections minted and sold on Ethereum during the first half of the year was 28,986. Over two-thirds of the NFT projects raised less than 5 ETH, although 140 collections raised well over 1,000 ETH. Cumulatively, the top five NFT collections on Ethereum accounted for 8.4% of overall minting. These include Pixelmon-Generation 1, Moonbirds, VeeFriends Series 2, Genesis Box and World of Women Galaxy. Related: Nifty News: Dr DisRespect unveils NFT game to mixed reaction, FC Barcelona’s first NFT sells for $700K and more…About half the amount raised stayed with NFT projects, while the other half circulated to non-entity wallets. However, Nansen could only trace direct transfers from the NFT projects’ addresses to the immediate transaction addresses. Subsequent transactions to other counterparties were not captured, thus limiting possible conclusions on how funds were used after NFT drops.Aside from research, Nansen is also known for index aggregates, such as the NFT-500, that track the performance of the top 500 NFT collections on Ethereum for both the ERC-721 and ERC-1155 token standards. The firm secured $12 million in investments from Andreessen Horowitz last year. 

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GameFi and Metaverse least affected by Terra debacle: Report

Blockchain gaming and the Metaverse have managed to “sidestep” the “Lehman brothers-like” collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says. In a July 29 report from decentralized application data aggregator DappRadar, the collapse of Terra in May was similar in scale to the 2008 subprime mortgage crisis — causing decentralized finance (DeFi), nonfungible tokens (NFTs) and firms such as Three Arrows Capital (3AC), Celsius and Voyager to cop the brunt of Terra’s destruction.“It is becoming clear that the Terra debacle has become a Lehman brothers-like event that has sent shockwaves across the entire breadth of the crypto industry and aftershocks that will affect us for many months.” However, Dappradar noted that blockchain gaming and Metaverse projects showed either minimal drawbacks or even positive signs of growth in the same period. Weathering the storm The report compares different metrics to show how the Terra collapse (during mid-Q2) impacted the performance of various sectors in crypto between the first two quarters of this year. One key metric the report looks at is transaction count (the total number of completed transactions), which essentially shows user engagement. DeFi and NFTs saw the biggest drops with 14.8% and 12.2% apiece, while blockchain games and NFT-related Metaverse projects “managed to sidestep the ensuing bear market” by posting increases of 9.51% and 27% each. The report also added that while the average amount of activity from unique active wallets (UAWs) in NFTs dropped by a hefty 24% in Q2, blockchain gaming saw a drop of just 7%, suggesting that users continue to interact with gaming dApps “at a more or less the same rate as before the Terra incident.” The trading volume for Metaverse-related NFT projects was also described as a “beacon of hope,” as volumes increased by a whopping 97% since in Q2, despite the overall NFT sector posting a 32.66% drop in Q2. In a separate DappRadar report from July, the firm suggested that the blockchain gaming may have been able to hold up better than other crypto sectors last quarter due to the non-speculative aspects of the games themselves. “This bullish activity indicates that engagement with the virtual worlds is not predicated on their profitability to the end-user. It shows virtual worlds are intrinsically fun to the end-user as the communities remain active despite the devaluation of native tokens,” the report read. DappRadar also said there was sustained institutional investment in both blockchain gaming and the Metaverse, highlighting that many top companies see the potential for strong economic growth in both sectors moving forward. Related: Metaverse visionary Neal Stephenson is building a blockchain to uplift creatorsThe report went on to emphasize that amount of investment into blockchain gaming and Metaverse projects remained consistent during Q2 despite the Terra carnage: “Despite a financial blow and undermined trust in the industry, investors remain bullish as the number of investments into blockchain games and metaverse projects has remained constant quarter-over-quarter, with $2.5 billion invested in both Q1 and Q2.”

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Tron producer Donald Kushner creates Web3-inspired Cryptosaurs NFT collection

It’s been 40 years since the classic sci-fi adventure film Tron hit movie screens around the world. Produced by Donald Kushner and released by Walt Disney Productions, its highly original futuresque concept made history by revolutionizing the use of computer animation in film while introducing audiences to one of the earliest interpretations of a digital metaverse.Reflecting on the movie’s success, Donald Kushner sat down with Cointelegraph reporter Sean Moore to discuss the success of the film, his new nonfungible token project Cryptosaurs and his thoughts on the future of the metaverse.Cointelegraph: How do current metaverse implementations compare to what you may have envisioned during the creation of the original Tron film?Donald Kushner: This is exactly what we envisioned — that the personal computer would overtake that of the mainframe computer. Games and intellectual property would become engines of wealth in a global creator community, and we’d see a battle between centralized and decentralized control of intellectual property, between an ownership economy and a creator economy. But Kushner has also kept himself up-to-date on navigating the next wave of the digital revolution. “My colleague Mike Bonifer and I invested in crypto in 2018 as a learning experiment. It was his idea. Mike is a quantum storyteller who began as the publicist on Tron and wrote the book The Art of Tron.”As told by Kushner, Bonifer believed that films and streaming content could be financed by crypto and “pre-collectible NFTs.” So in 2021, Kushner and Bonifer, along with industry veteran John Scheele, came together to form Gumbotron — a Web3 studio dedicated to Metaverse storytelling.The firm’s newest NFT project Cryptosaurs, developed in conjunction with Forj and Animoca Brands, features collectible digital dinosaur NFT characters, starting with an egg drop in Fall 2022. Each egg is a mystery box containing a line of code. A “gene randomizer” determines a sequence of “freeze-or-hatch” events in early 2023, in which holders of the eggs will be awarded a particular species of Cryptosaur with different uses in the Metaverse. The production team’s goal is for holders of the Cryptosaur characters to eventually showcase their NFTs in play-to-earn games, fine art, feature films, virtual reality exhibits, as Metaverse avatars and in other forms of media.The idea for Cryptosaurs came from the childhood experiences of co-founder John Scheele, who also worked on Tron as a visual effects artist. Scheele’s father was the director of the Cleveland Museum of Natural History for 40 years, and family vacations consisted of dinosaur digs. And so, fellow co-founder Mike Bonifer pointed out: “If we can get John to recall the wonder he had as a child on those dino digs, we will have a story.” Tying it all back to the cyber world envisioned through Tron, Kushner says that the film’s influential legacy can still be seen in many areas of the gaming and entertainment space:”It’s not a coincidence that Hal Finney [the first recipient of Bitcoin and one of the alleged creators of the digital asset itself] worked on Tron’s Atari game. Yat Siu, the founder of Animoca and a big Tron fan, also worked at Atari when he was 13. And then there are people like William Gibson, who pioneered the cyberpunk genre in science fiction. He was also influenced by Tron.”

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NFT domains platform Unstoppable raises $65M Series A at $1B valuation

On Wednesday, nonfungible token (NFT) domains platform Unstoppable Domains announced that it closed a $65 million Series A funding round at a valuation of $1 billion. Notable investors in the deal include Pantera Capital, Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, Sound Media Ventures, Boost VC and Draper Associates. Unstoppable said it will use the fresh capital to fuel product innovation and grow partnerships in the Web3 space.Unstoppable Domains offers NFT domains, which are suites of smart contracts live on a public blockchain that give users control of their stored data. NFT domains enable users to send or receive crypto and interact with decentralized applications in lieu of their wallet addresses. A one-time, upfront fee is needed to unlock one’s domain for life, with no further renewal payments required.Since its inception in 2018, Unstoppable has registered 2.5 million domains integrated with over 150 Web3 applications and more than 80 wallets and exchanges. The company claims to have built more than 300 partnerships with leading Web3 companies like Polygon, Blockchain.com, and MoonPay. The firm generated nearly $80 million in sales over the past three years.Related: Circle and Unstoppable Domains to introduce username-based USDC paymentsUnstoppable Domains founder and CEO Matthew Gould likened NFT domains to the growth the digital economy. “As the digital economy becomes a larger part of our lives, it’s time for people to own their identity on the internet,” he said, adding:”We’re thrilled to partner with Pantera and other investors who share our vision of onboarding billions of people onto Web 3.0 through NFT domains that unlock user-owned, private, and portable identities.”

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HARTi and Mitsui Sumitomo roll out NFT insurance coverage for claims

As announced on Tuesday, Japanese NFT Platform HARTi and insurance group Mitsui Sumitomo (三井住友海上) will roll out nonfungible token, or NFT, insurance for all digital artworks exhibited within the HARTi app. The insurance will attach to the NFT pieces on display by sellers free of charge, with HARTi responsible for the premium payments. Under the scheme, Mitsui Sumitomo will compensate owners of insured NFTs if their digital assets are compromised by unauthorized third-party access (such as through phishing, theft or wallet hacks) or become bugged or glitched during transfers. In such events, the policy will payout compensation to the NFT owner based on the exhibition price of each item and up to a maximum value of 500,000 yen ($3,661). The two parties expect to expand their collaboration in mitigating the risks of NFTs and would provide policies with higher compensation limits in the future.Regarding the development, Yuya Yoshida, founder, and CEO of HARTi, said:”The theme of safety and security is paramount for encouraging the entry of major Japanese companies into NFTs, including department stores, commercial facilities, and major brands. Therefore, we hope this new service will play a role in the safety of the domestic NFT secondary market.”Yoshida continued: “Considering the importance of insurance for the sound development of the domestic NFT secondary market, Mitsui Sumitomo Insurance developed the policy from scratch, making it the first case in Japan.” Other Japanese corporate giants that have ventured into the crypto and NFTs space include investment bank Nomura and video game publisher Square Enix. 3/百貨店や商業施設、そして大手ブランドに至るまで、日本国内の大手企業のNFT参入を促すためには、「安心•安全」のテーマは不可欠です。市場は2023年にかけて、既存の大手企業も参入が続くタイミングになると予測します。こちらが国内NFT流通市場の安全性担保の一助に繋がることを願っています!— Yuya Yoshida|HARTi Inc. (@yosshii_1) July 25, 2022

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NFT utility to remedy ticketing dilemmas? Experts weigh-in

The 2022 Champions League final will have a checkered position in the competition’s history book. Real Madrid emerged victorious over Liverpool inside the Stade de France, but the pandemonium outside the stadium before kick-off highlights the need for innovative solutions to events ticketing.Counterfeit tickets played a massive role in the chaotic scenes that played out in the French capital in June 2022, as fans broke into the stadium precinct while authorities rebuffed many. French authorities estimated that 35,000 people had arrived at France’s national stadium with fake tickets or none at all, in addition to the 75,000 fans that had legitimate tickets for the grand final.Black market ticket sales and touting have been part and parcel of the sporting and events world for decades, but the advent of blockchain-powered ticketing looks to be a promising solution. Nonfungible tokens (NFTs) are multi-faceted in that they ensure the credibility of tickets and enable Internet-of-Things (IoT) functionality while also serving as a unique digital collectible to commemorate an event. The NFL has already tested the waters with NFT ticketing, having distributed around 250,000 NFT tickets after launch in November 2021. Fans that attended the NFL’s Super Bowl LVI were also eligible for commemorative NFT tickets — all at no cost. How that NFT ticket looks and what it incorporates are up to the creators. The NFL’s NFT tickets are minted on the Polygon blockchain and feature different animated visual elements.The French envoy for the 2024 Paris Olympics has also suggested the use of NFT ticketing solutions to manage attendance for the events, as well as a trial run at the 2024 Rugby World Cup, which will also be hosted in the country.NFTs are multi-faceted in that they ensure the credibility of tickets and enable IoT functionality while also serving as a unique digital collectible to commemorate an event. How that NFT ticket looks and what it incorporates are up to the creators. The NFL’s NFT tickets are minted on the Polygon blockchain and feature different animated visual elements.Cointelegraph reached out to a handful of industry participants that already make use of blockchain-based NFT ticketing to gauge the impact of the technology.Amsterdam-based event technology firm GET Protocol issues tickets that are minted as NFTs on the Polygon blockchain when a user buys a ticket in their mobile app. Tickets are tied to mobile numbers, which is a key part of eliminating ticket touting.Related: There’s more to NFTs than just PFPs — 5 ways nonfungible tokens will transform societyUsers can claim the actual NFT when they scan the ticket QR code at the given event, which links to their GET Protocol wallet. This is where digital collectibles and other exclusive benefits can be extended to users.Colby Mort, who heads up NFT strategy at the company, told Cointelegraph that NFT tickets help add transparency to what is traditionally a “blackbox” industry. All tickets are transparently viewable in real time, which helps prove ticket authenticity, given the immutability of the underlying systemThe secondary sale market is also formalized. Tickets can only be resold within the system, giving organizers control of tickets, revenue, data and direct contact with holders. Tickets are also given extended life cycles, both pre- and post-events, with GET Protocol exploring decentralized event financing for an upcoming Lewis Capaldi art show in Iceland. This explores fundraising initiatives with technology that could benefit smaller artists and creatives.Digital collectibility is a major feature of post-event NFT utility but Mort also pointed to its potential as a community-building tool for artists and event hosts. “NFT Ticketing for a lot of mainstream audiences is the ‘light bulb moment’ of understanding the underlying utility of an NFT combined with the familiarity of the collectible side of NFTs as all NFT Tickets can include a digital collectible.”Josh Katz, CEO of NFT marketplace YellowHeart, told Cointelegraph the ticket industry is plagued by issues around authenticity and scalping which are mainly driven by the ease of forging or replicating paper tickets with modern hardware.The finite element and exclusivity of tickets also results in mass reselling at inflated prices. Katz noted that the online ticketing market is expected to be valued at $68 billion by 2025, while secondary sales could generate $15 billion in sales of which organizers and artists forgo their rightful share:“NFTs, on the other hand, can help solve most — if not all — of these issues. For one, the open and transparent nature of blockchains makes it extremely easy to verify the provenance and authenticity of NFT tickets, so it’s substantially harder for scammers to fool people.”Kats also highlighted the freely programmable nature of the smart contracts powering NFTs, bringing dynamic benefits to holders and issuers. This also addresses secondary market sales, where NFTs can be programmed to deliver a percentage of sales to the artist or event organizer.Mort insists that a focus on form and function has been important for their ticketing solution’s success to date. Ticket buyers use fiat currency to purchase tickets linked to bank accounts or cards and access and interact with their NFTs through an app. “Since our inception in 2016, we’ve prioritised abstracting away the complexity of blockchain and NFT technology, but over the last year we’ve seen a huge demand from ticketing companies and event organisers to explore the Web3 side of their ticketing with post-event NFT claiming.”GET Protocol was built to be blockchain agnostic, given that customers and clients will use the event and ticketing marketplace without having to understand the underlying technology. Striking a balance that ensures ease of access for new users while harnessing the programmability, utility and immutability of blockchain technology is a key theme highlighted by both Mort and Katz in the adoption of NFT ticketing. 

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Cristobal Balenciaga NFT To the Moon drop inspired by founder's original designs is live

Lorenzo Riva, the artist director of the luxury fashion brand Balenciaga during the 1980s, launched a much anticipated Cristóbal Balenciaga: To the Moon nonfungible token (NFT) collection on July 21 in collaboration with Cointelegraph. The NFT collection comprises 8,300 original, never-before-seen designs from Cristóbal Balenciaga himself.Cristóbal had humble beginnings as a local tailor’s apprentice and eventually rose to prominence in the fashion industry as a pioneer of novel garment shapes. These fashions, such as the sack dress and the cocoon coat, changed the course of women’s fashion in the 1950s.Lorenzo Riva and models wearing his unique designsDuring the 1980s, Lorenzo Riva served as the artistic director of Balenciaga and received the original designs created by Cristóbal. Cointelegraph created the art collection and collaborated with Art Vein, a fine art NFT platform, Animal Concerts, a metaverse entertainment company, and Crypto.com NFT to bring this fashionable digital NFT collection to life.There are a total of 10,000 unique pieces of fashion history up for grabs, and the team has doubled down on rewards and gifts to make it a memorable experience. NFT minters would be eligible for designer gear, gift cards to high-end designer brands and even drawings by Cristóbal that are 70 years old.Cristobal Balenciaga’s To the Moon NFT collectionThe project team has highlighted 50 unique and one-of-a-kind haute couture Balenciaga NFTs, which are the rarest in the collection. These rare NFTs offer high-end redeemable and unparalleled functionality. For example, the following video of Lorenzo talking about the drawings will be given away as redeemable.[embedded content]Discover the rare Balenciaga-inspired NFTs and learn more about the collection here.

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Mojang Studios bans Minecraft NFT integrations

On Wednesday, Minecraft’s developer Mojang Studios said that it would be excluding the integration of nonfungible tokens, or NFTs, alongside blockchain technology as a whole, in its popular namesake game. In explaining the decision, Mojang wrote:”Like any digital file, NFTs can be copied, moved, or even deleted. Additionally, NFTs and blockchain have also been associated with price speculation. These uses of NFTs and other blockchain technologies create digital ownership based on scarcity and exclusion, which does not align with Minecraft’s values of creative inclusion and playing together.”As told by Mojang: “To ensure that Minecraft players have a safe and inclusive experience, blockchain technologies are not permitted to be integrated inside our client and server applications, nor may Minecraft in-game content such as worlds, skins, persona items, or other mods, be utilized by blockchain technology to create a scarce digital asset.”The company also criticized the “speculative pricing” and “investment mentality” around NFTs that take away from the game experience and encourage profiteering to the detriment of long-term game playability. Furthermore, it pointed to rug-pulls surrounding certain third-party NFT integrations as well as NFT wash trading, or fraudulent price manipulation to support the ban.Under the new rules, third-party blockchain technologies cannot be integrated with client and server applications within Minecraft. Nor may they be utilized to create NFTs associated with any in-game content, including worlds, skins, persona items or other mods. Although the changes do not affect most Minecraft gamers, it is likely to have significant consequences for a small subset of gamers who are also profiting from in-game NFTs. Third-party for-sale NFT collections digitizing Minecraft in-game assets may therefore be in violation of such terms and could potentially face legal consequences.Rip NFT worlds? pic.twitter.com/5bEy5oqtjm— DeeZe (@DeezeFi) July 20, 2022

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What is Enjin (ENJ) and how does it work?

What is Enjin and what are its main features?With blockchain-based nonfungible tokens (NFTs) powering the rise of Web3, a number of NFT-based projects are gaining significant importance, as they provide the technological means of assembling important data on blockchains in a visually appealing manner. Related: Nonfungible tokens: How to get started using NFTsLeading among them is Enjin, a world-class blockchain software co-founded by Maxim Blagov and Witek Radomski in 2009. Enjin helps build an entire Enjin ecosystem consisting of products that individuals, businesses and developers can use to develop, trade, monetize and market NFTs. Allowing users to manage NFTs and crypto through the Enjin wallet, lets them share NFTs through simple QR codes and provides them access to a dedicated marketplace to trade and collect rare NFTs. All transactions in the Enjin ecosystem are powered by the native Enjin (ENJ) token and the platform offers the functionality of managing all digital assets through a simple mobile app. It enables entrepreneurs to conceive gaming, art, music and sports-based NFT projects with the functionality to create custom coins without any coding requirements. The Enjin platform facilitates gas-free transactions for NFTs and ENJ through JumpNet, allowing for a seamless user experience that is made possible by its integration with all of its other products like Enjin Beam, Marketplace and Wallet.Combined with Efinity, a Polkadot-based parachain, Enjin allows creators to mint tokens on specialized blockchains that are focused on core functionality and provide superlative chain stability. With companies such as Microsoft, Samsung and BMW having integrated Enjin’s products and services into their blockchain-based rewards platforms, Enjin is enabling millions of users across the globe to safely manage and store their digital assets.Related: What is Polkadot (DOT): A beginner’s guide to the decentralized Web 3.0 blockchainAs the adoption of NFTs among individuals and companies across the world grows at an exponential pace, Enjin is well poised to emerge as one of the most important blockchain companies and this should translate into value creation for token holders of the native ENJ token.What is an Enjin coin (ENJ) and how does ENJ work?Launched by Enjin in 2017, ENJ is an ERC-20 compatible token that can be sent or received using an Ethereum wallet. ENJ is primarily used in various operations including purchasing, selling or trading NFTs using the various products provided by Enjin. Apart from this core purpose and the fact that it can integrate with multiple gaming platforms, ENJ can be used just like any other cryptocurrency and can be traded across crypto exchanges. Considering the maximum number of use cases in the gaming industry, ENJ allows gamers to store unique game items such as characters or accessories in the form of bespoke tokens, which can then be liquidated for ENJ when needed. Facilitated through the Enjin wallet, gamers can thus access various partner gaming platforms, keep track of the various tokens or collectibles and sell these digital assets for ENJ at their own convenience. For NFT fans, the Enjin platform and marketplace are emerging as one of the best options to discover and trade in NFTs, with Enjin’s software development kits (SDKs) enabling the creation and integration of digital assets into games and apps with ease. Each of these in-game items is ascribed a value in ENJ and allows gamers to trade NFTs, coins and other items outside of the gaming environment with utmost security. What makes ENJ unique is that, unlike many popular cryptocurrencies, it has established itself as a token with a number of Enjin use cases and is a viable option for those looking to invest in cryptocurrencies for the long term.How and where to buy Enjin coin?Enjin’s vision has resulted in the development of a scalable and cross-chain token network that is making the process of minting, trading and converting NFTs into tangible token value that is very user-friendly. Additionally, it has made NFTs far more accessible and affordable, with faster and cheaper transactions leading to a significant increase in the overall NFT trading volume. As NFTs witness increasing adoption among industry participants and users alike, tokens like ENJ will play a key role in unlocking immense value through unique digital and real-world assets like game tokens.Available on leading crypto platforms and exchanges like Binance US, Crypto.com, Bithumb, Gemini, Swissborg, Kriptomat, Voyager and Blockchain.com, anyone can purchase ENJ using fiat currencies like the United States dollar or by trading other cryptocurrencies. If you are looking to buy and exchange the ENJ tokens, follow the steps below- Is ENJ a good investment?By enabling developers to mint items for gaming environments in the form of NFTs, the Enjin platform and the ENJ token will be one of the most preferred options for both users and businesses alike. As more users get involved in this rapidly growing virtual economy, NFTs and cryptocurrencies will take center stage in fortifying the metaverse and are bound to emerge as the primary mediums for transacting in the digital space. In that sense, Enjin and its native token ENJ have the potential to assume leadership status in this bustling space, something that token holders and potential investors could benefit from. As the number of platforms using Enjin’s suite of products increases, there will be an associated increase in demand for ENJ tokens, a factor favorable for further price appreciation. What’s more, every time developers need to mint NFTs for their respective projects, they will lock the value in ENJ into a smart contract and the same is released when the item is sold. With a maximum supply limit of 1 billion tokens, ENJ’s value is poised to appreciate as demand for the token increases amid the backdrop of scarcity in supply.Moreover, the United Nations Global Compact has accepted Enjin as a participant and the network isexploring ways on how to use NFTs to promote sustainability and equality. The token also has the distinction of being the first regulatory-approved gaming token in Japan, a feat ENJ achieved in January 2021 when it was legally authorized for trade by the Japanese Virtual Currency Exchange Association. With the help of Enjin’s technology prowess and its solid footing as a secure platform for NFT-based applications, Enjin’s founders are committed to achieving net-zero emissions from electricity consumption and plans to enable carbon-neutral NFTs by 2030.With the max supply of ENJ tokens capped at one billion, there could be market scarcity in the future which will help in controlling the token’s inflation rate. ENJ empowers its holders to access the Enjin ecosystem, one which is ever-expanding with new innovations and presents a unique opportunity for those who would like to invest in the future of virtual asset trading.

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34% of gamers want to use crypto in the Metaverse, despite the backlash

Despite a backlash from a vocal part of the gaming community, a new survey has revealed one-third of gamers have expressed interest in using crypto in the Metaverse.And more gamers than not believe the Metaverse will have a positive impact on gaming. The survey was published on July 13 by institutional software developer Globant. It was conducted by YouGov and polled 1,000 adult PC, console and/or mobile gamers last month, with 34% of respondents indicating an interest in conducting crypto transactions in Metaverse. The concept of play-to-earn (P2E) in the Metaverse is also relatively well received by gamers, with 40% of respondents stating that they are “interested in pursuing a mix of both the ‘playing’ and ‘earning’ aspects of the Metaverse.” While 11% indicated they are more interested in earning, and 49% stated they are only interested in playing. More than half (53%) of respondents also stated that they would happily work in virtual game worlds if they were able to earn digital currency from their labor. In terms of NFTs, 16% of gamers stated that they have purchased at least one in the past, however it was unclear whether they were gaming related NFTs. More than half (52%) of gamers believe the Metaverse will change the video game industry and “a plurality of 41% think that the Metaverse will have a positive impact on the industry (vs. 25% who disagree).” Notably however, despite 40% of respondents associating blockchain tech with Metaverse, only one blockchain-native platform made the list of the most recognized Metaverse brands. The most recognized is Meta at 73%, followed by Fortnite creators Epic Games at 27%, Roblox at 21%, Ethereum-based The Sandbox at 15%, and Pokemon Go developers Niantic at 10%. Some die-hard gamers have voiced distaste for crypto and NFTs on numerous occasions, often in response to major companies and brands announcing such integrations into their product lines. They criticize the environmental impact of the technology, suggest that it negatively impacts the gaming experience, but the core rationale appears to be a belief companies are just looking for cash grabs in a similar vein to the controversial in-game microtransactions. Related: NFT volume sees yearly low in June, but first-time buyers remain consistentRecently video game developer Mark Venturelli launched an attack on NFTs during Brazil’s International Games Festival in a presentation titled “Why NFTs are a nightmare.” Venturelli argued that the introduction of speculative economic activity via NFTs will end up ruining the experience for people who just want to play games for fun, as “organized groups” will take over as they work to profit at scale.

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