Značka: NFTs

Kanye West wants royalties from Paparazzi photos, with the help of NFTs

Kanye West expressed his frustration at the paparazzi after being filmed arriving at Miami International Airport on Monday, as seen in a video posted by ET Canada. Kanye can be heard saying to the cameraman:”It’s just really one-sided. You guys can follow us, you guys to stand from the hotel at any given time. You don’t give us any percentage of what you make off us, off our kids. And I’m going to change that.”Kanye in Miami | Source: ET CanadaThe cameraman argued that, “without candid photography, there wouldn’t be a [documented] history of celebrities.” However, it was clear that Kanye’s main interest involved the right to royalties from paparazzi photos, rather than issues with the perceived invasion of privacy. “You know, NFT [non-fungible tokens] people get paid in perpetuity on the product that they put out. So my image is a part of something that I should get paid for. We all got to make money together,” said Kanye.NFT platforms, such as OpenSea.io, allow creators to set royalties of up to 10%, receiving proceeds every time the work of art is sold via the platform. However, the feasibility of co-profit sharing on celebrity photos remains in question. For starters, major NFT platforms typically do not cross-enforce one another’s royalty structures, meaning that creators would not receive any funds if, for the sake of argument, their OpenSea NFT was sold on a different venue. In addition, the issue of copyright to the original work can only be resolved through off-chain negotiations.

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Blockchain metaverse ecosystems gain traction as brands create digital experiences

Billion-dollar companies are taking the Metaverse by storm as consumers have shown heightened interest in virtual, interactive, three-dimensional experiences that take place online. While the “Metaverse” is still a new concept, research firm Strategy Analytics found that the global Metaverse market is forecasted to hit nearly $42 billion by 2026. This very well may be the case, as a handful of businesses including Nike and Walmart have begun exploring consumer experiences in metaverse environments. NFT utility for brands launching in the MetaverseTo understand how and why brands are leveraging the Metaverse, it’s key to point out the role that NFTs, or nonfungible tokens, play within these ecosystems. While the year 2021 saw an influx of NFTs, the rise of the Metaverse is predicted to highlight the importance of utility behind NFTs. Adrian Baschuk, founding partner at Ethernity Chain — an authenticated and licensed NFT platform — told Cointelegraph that every brand, company and notable figure will eventually have a metaverse and NFT integration:“This is the “Myspace days” of the NFT-metaverse interactivity layer. Just as every company and individual has adopted some form of social media, this will also be the case for NFTs and the Metaverse.” Given this, Baschuk shared that Ethernity recently brought its IP to The Sandbox, a blockchain-based metaverse ecosystem. Specifically speaking, Ethernity has acquired a desirable plot of land in The Sandbox to host a gallery and fully licensed NFT store. Baschuk explained that this will allow The Sandbox users to purchase Ethernity NFT wearables and collectibles. According to Baschuk, these wearable NFTs include athlete jerseys, which will be used to dress and provide special powers to The Sandbox avatars. “Dallas Cowboys’ Zeke and Dak will kick this off, as the players’ wearable jerseys and shoulder pads will boost a user’s avatars’ skills and powers,” he said. While this specific example may appeal to The Sandbox gaming community, the concept behind it is universal for brands entering the Metaverse. For instance, Baschuk explained that NFTs within virtual ecosystems allow for companies to monetize assets across a blockchain network, enhancing interactivity for consumers and fans. To put this in perspective, consumer electronics giant Samsung recently announced that it will have a virtual replica of its New York physical store located within Decentraland, another leading metaverse ecosystem. The store, known as the “Samsung 837X shop,” will be accessible in Decentraland for a limited time. Samsung 837X shop in Decentraland. Source: SamsungA Samsung spokesperson told Cointelegraph that establishing Samsung 837X as a metaverse brand will provide limitless possibility for consumers to connect with Samsung and its products in an immersive way: “In our metaverse, the brand pillars of sustainability, customization and connectivity will come to life in experiences that showcase the cutting-edge technology embedded in the Samsung family of products. This virtual hub will become a place for our community to celebrate the convergence of technology, art, culture, fashion and music.”Samsung’s spokesperson further mentioned that Decentraland specifically gave the company a platform to enable a true Web3 metaverse experience. They noted that the Samsung community wanted a metaverse store to feature interactive quests that would allow participants to earn wearables like NFT badges or opportunities to win exclusive Samsung branded clothing for avatars. Samsung 837X wearables in Decentraland. Source: SamsungOverall, Samsung explained that its 837X store will serve as a foundation for the future, which will offer significant utility to its visitors. In turn, the company is looking at ways in which badges earned at 837X will offer access and utility for future events and experiences in its virtual space. “In the future, it’s our hope that everyone who visits our world will be able to enhance their online experience in the metaverse and their real-world experience with Samsung products,” commented Samsung’s spokesperson. While Samsung was one of the first major brands to launch a virtual store in Decentraland this year, other organizations are following suit. Most recently Tennis Australia, the organizer of the Australian Open (AO), partnered with Decentraland to host the AO in the metaverse. This virtual environment contains key areas in Melbourne Park, including the Rod Laver Arena and Grand Slam Park. AO Decentraland 2022 will take place Jan. 17–30, mirroring the in-real-life tournament schedule. An avatar watching the Welcome Address at the AO in Decentraland. Source: DecentralandRidley Plummer, Tennis Australia NFT and metaverse project lead, told Cointelegraph that it was a natural progression for the event to expand into the metaverse. Plummer shared that this was also the case due to border closures brought about by the COVID-19 pandemic, which has made it more difficult for fans to attend the event in person:“We can only have a certain number of people in the area and the arenas, so we are bringing the AO to the world by allowing fans to partake in a virtual, interactive experience on Decentraland. This will enhance our fans’ viewing experience at home from their television by providing users with a more voyeuristic look at what’s happening at Melbourne Park.”Plummer elaborated that AO’s metaverse environment features entertainment hubs where fans can watch replays of tennis matches, along with historical footage of past tournaments. He noted that during the final weekend of the event, fans will have access to behind-the-scenes footage that will show players during practice sessions and more. Ariel image of the AO arena in Decentraland. Source: DecentralandPlummer added that users on Decentraland can walk around Melbourne Park with their avatars to collect wearables and play virtual games to earn NFTs. “There are items and branding we can add within Decentraland that enhance experiences for our partners as well from a play-to-earn perspective. We have a series of gamification within Decentraland.” Blockchain-based metaverse offers more, but will the mainstream catch on?Given the unique experiences NFTs can bring to consumers and fans, it’s equally important to highlight the benefits offered by a blockchain-based metaverse ecosystem. For instance, while many brands have started to engage users through connected environments, blockchain networks enable digital asset ownership while demonstrating the true power of Web3. Elaborating on this, Adam De Cata, head of partnerships at Decentraland, told Cointelegraph that the difference between a blockchain-based metaverse and a non-blockchain metaverse is interoperability:“When it comes to interoperability and what this means to users in blockchain, it can provide countless utilities and benefits. You can buy your digital garments, trade and sell them and receive these funds via crypto (that can be transferred into fiat if need be). As a creator, you can receive a trailing commission on wearable sales too.”De Cata added that open source platforms like Decentraland further allow users to connect their digital wallets to the platform to access particular builds and scenes that might be exclusive to a particular NFT they already hold: “We are still in the infancy of exploration, and it’s exciting to think of the possibilities moving forward with Web3.”In regards to interoperability, Sebastien Borget, co-founder of The Sandbox, told Cointelegraph that the Metaverse enables a digital economy, noting that a true virtual ecosystem should allow for an avatar to be used across a variety of platforms: “The Metaverse means that your avatar can function across a myriad of virtual worlds, with the same identity. This is only possible through blockchain technology, which puts the users in control of their identity, data and currency.” Borget further remarked that virtual worlds have existed for over 20 years, adding that many current metaverses are just centralized platforms:“The value centralized platforms bring by creating or being present is locked into the platform, and even worse, captured mostly by the platform rather than going back to the users. For me, the Metaverse’ true potential can only happen if there is a technology that supports this digital economy and users’ sovereignty.” Yet while blockchain-based metaverse environments are capable of offering more to both companies and their users, the question as to whether this concept will catch on with the mainstream remains. De Cata remarked that he is optimistic about mainstream adoption, noting that Decentraland has seen an almost equal number of guest wallets and users with existing digital wallets utilize the platform. He shared that he is looking forward to the feedback from the AO event. “I’m keen to see what happens during the course of the AO on Decentraland. There is just enough market research to find out the retention rate and user experience for events like the AO, and if these users are crypto native or not.”It’s also notable to point out that Samsung shared that the company has had an overwhelmingly positive response from visitors coming to Samsung 837X. “Based on the response we’ve received, we’ve seen attendance to Samsung 837X from both experienced users and new explorers alike. For us, that’s very exciting.” Will metaverse experiences replace real life?Metaverse experiences may be the next big innovation for brands and users, but some may be wondering if virtual environments will replace real-life experiences entirely. After all, this could very well be the case due to the advanced capabilities provided within blockchain-based metaverse environments. For instance, while NFT utility has been brought to life through the Metaverse, the trillion-dollar e-commerce sector is being disrupted overall. To understand the scope of this, Justin Banon, co-founder of Boson Protocol — a decentralized commerce protocol — told Cointelegraph that brands are ultimately seeking commerce opportunities. “The whole point of the Metaverse is that it’s programmable and gameable, therefore offering full capabilities for a new wave of commerce.” In turn, Banon explained that Boson Protocol has purchased one of the largest plots of land in Decentraland to host virtual shops that allow for NFT wearables to be purchased and then redeemed for physical items either online or at store locations. For example, Boson Protocol recently launched a virtual store with DressX, a retailer for digital fashion clothing, allowing the company to sell items to users in the metaverse that can be redeemed for physical versions. “We are getting more demand for Web3 features, like “digiphysical” offerings. There is no longer the demand for vanilla e-commerce,” he remarked. Boson Protocol’s DressX shop in Decentraland. Source: Boson Protocol While this may be, De Cata commented that time spent in the Metaverse depends on individual users:“Metaverse events will be complementary to real-life events and experiences. We are already seeing a blended mix of both. Social content is key in the digital age we live in. I draw from the tech adoptions curves — the early adopters may spend increasingly more time in the Metaverse whereas the late majority less time.” Although it’s hard to predict the future traction of the Metaverse, industry experts remain confident that all brands will eventually adopt a metaverse model. Borget commented that he expects this trend to accelerate because brands are looking for new ways to engage with users digitally. “It makes sense for brands to give more value back to the users directly, rather than spending on advertising,” he remarked. And De Cata added that although “the Metaverse” is trending as a topic, he believes that these virtual worlds are just an extension of social media platforms: “The Metaverse allows us to connect with like minded individuals in a way that we don’t currently get from swiping up and down in a mobile app. For the crypto community, interoperability is key. For non-crypto users entering these environments, it’s clear that they are enjoying them now more than YouTube.”

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NFT firm Dropp GG set to launch ‘geo-minting’ and ‘mixed reality events’

Solana-based augmented reality and NFT platform Dropp GG is developing geographical-based NFT minting and “mixed reality events” tied to the Metaverse.The firm was founded in early 2021 and is progressively rolling out several initiatives over this year including partnered NFT drops, geo-minting events, virtual land plots with AR support, and a metaverse platform that maps to the physical world. Dropp recently closed an $8 million funding round that was backed by top crypto and NFT firms such as Animoca Brands, Alameda Research DeFiance Capital and Three Arrows Capital. The funding will go towards IP accumulation, partnerships and metaverse/AR tech development. One of Dropp’s major initiatives will be the launch of geographical-based NFT minting (geo-minting), slated for beta testing later this quarter. The term refers to specific NFT collections that are only able to be minted by users who are at the predetermined physical location of the drop. 1/5 Introducing: DROPP LOCATION-BASED NFTSA New Era for NFT Utilization ‍♀️‍♂️ ️@solana $DROPP #NFTcollection #NFT #NFTCommunity Read more https://t.co/9daQSZnPqw pic.twitter.com/1rCQEN0TTi— DROPP (@DROPPgg) January 16, 2022The firm touts the NFTs as a new way for partnered artists, celebrities and influencers to drop exclusive collectibles for their audiences, while the scarcity of the unique geo-specific NFTs is intended to add value on the collectors’ end. Dropp is tight-lipped on the other partnerships it has secured so far but told Cointelegraph that the company will be announcing collaborations with several “celebrities, models and artists” next month.The company will also launch a metaverse platform dubbed “Dropp Land,” that will feature a virtual reality world that is mapped to the real world. As part of the project, users will be able to buy virtual land plot NFTs, earn yield rewards with them or rent them out to other people. AR support for the metaverse platform is also in the works, enabling users to experience “mixed reality events” that feature digital representations of the virtual land and other NFTs purchased in Dropp Land in the physical world. In an interview with Cointelegraph, Dropp founder Edmond Truong stated that the firm is aiming to onboard 500,000 users to Dropp Land in the future, and will focus on providing a bridge between the Metaverse and the physical world by allowing users to interact with their NFTs in both spheres.Related: Meta reportedly plans to integrate NFTs on Facebook and Instagram profilesTruong said the NFT market acts very differently from any other industry due to the sector’s ability to attract anything from “crypto aficionados,” to gamers, artists, collectors and retail traders. The founder foresees NFT tech becoming widely adopted once the sector evolves with  further utilities for mainstream purposes:“People will utilize NFTs as digital art, digital tickets, digital documentations, digital identities and digital wallets that will become pivotal in the near future.”“As the idea of paper money started from receipt of exchange, NFTs will soon replace transactions that will require proof of authenticity. We believe NFT adoption is inevitable,” he added. The firm’s first partnered NFT collection will launch later this month on the Soulshift NFT platform, and will feature 10,000 NFTs depicting artwork from renowned streetwear designer Hiroshi Fujiwara and artist/skateboarder Mark Gonzales.

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Twitter Blue rolls out NFT profile pics for iOS

On Thursday afternoon, Twitter announced that it would be rolling out iOS support for nonfungible token, or NFT, hexagonal avatars. As of now, only paid subscribers of Twitter Blue using iOS, which costs $2.99 per month, can access the feature. According to a tutorial video, users can connect their wallet, including Coinbase Wallet, Rainbow, MetaMask, Trust Wallet, Argent, or Ledger Live, and set it as their profile pic, with the process taking a few seconds.Users can also learn more about each other’s NFT avatars, such as their owners, creators, description of the series, as well as verification of authenticity on third-party platforms like OpenSea. According to Twitter, the platform does not maintain an ongoing connection with one’s crypto wallet. However, the firm stores one’s public wallet address to ensure that it continues to hold the NFT avatar. Although one can only set it on iOS through Twitter Blue, the NFT profile pic will be visible across all platforms.The functionality of the development is still in the early stages. Twitter currently supports only static images, such as JEPG and PNG files, minted on the Ethereum (ETH) blockchain, including ERC-721 and ERC-1155 token standards. But if one sells or transfers the NFT while still set as profile picture, it will not display any information regarding its ownership when clicked.gm! You asked (a lot), so we made it. Now rolling out in Labs: NFT Profile Pictures on iOS pic.twitter.com/HFyspS4cQW— Twitter Blue (@TwitterBlue) January 20, 2022But any over-enthusiasm would be short-lived. According to Twitter user and blockchain enthusiast @HollanderAdam, the feature appears to work for any NFT in one’s collection— not just those in verified collections. In other words, an internet stranger can simply right-click-save any NFT from a Twitter profile, mint it, and then use it as their avatar. 

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Secret Network offers $400M in funding to bring others in on the secret

Secret Network is offering $400 million in funding to grow its privacy-oriented ecosystem and expand user adoption.Secret Network is a decentralized ecosystem that utilizes trusted execution environments to enable private, secure computation over encrypted data. The ecosystem has four components: Secret Tokens, Secret Bridges, Secret Finance and Secret NFTs.According to a Jan. 19 announcement, the privacy-oriented platform is offering a $225 million ecosystem fund and a $175 million accelerator fund with support from 25 existing investors and partners, including BlockTower Capital, Arrington Capital, Fenbushi Capital, Outlier, Spartan Group, and Figment. The Founder of Secret Foundation Tor Bair told Cointelegraph the funding would further the network’s aim to “scale privacy-first, decentralized applications to global adoption by millions of users,” as he emphasized the importance of Web3 technology:“Privacy technologies are essential to ensure that Web 3.0 will be empowering and open, rather than an extension of the failures of Web 2.0.”The ecosystem fund will be used to expand the project’s application layer, network infrastructure, and tooling. The accelerator pool will provide non-dilutive capital, grants and incentives via its native token SCRT to quickly expand user adoption. Secret Network also revealed that numerous top-tier investment firms recently acquired SCRT positions and joined the ecosystem as critical stakeholders, including Alameda Research, DeFiance Capital, CoinFund, and HashKey.The ecosystem funding is a part of the Shockwave initiative, a vision for Secret Network’s global growth, which was announced on Jan. 12. Shockwave aims to cement the ecosystem’s standing as a privacy hub for Web 3.0.Related: Miramax sues Tarantino over ‘money grab’ Pulp Fiction NFTsBair said that a global, privacy focused network was an essential part of building a better internet:“Private-by-default networks and applications create choices for users and allow them to control and consent to how their data is used. The entire Secret community is dedicated to protecting users, providing security, and fighting against surveillance capitalism — a system that exploits instead of empowering.”The funding news follows Secret Network’s freshly launched auctions for a collection of seven highly-anticipated NFTs issued by Quentin Tarantino on Jan. 17. The collection consists of seven chapters of Tarantino’s original, handwritten screenplay of Pulp Fiction, the first chapter of which has been sold and will be announced on Jan. 24.

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Fan Controlled Football raises $40M to expand league with Bored Apes and Gutter Cats

Alternative sports organization Fan Controlled Football (FCF) has raised $40 million in Series A funding from crypto and blockchain gaming firms to support the league’s expansion plans, including four new teams and an NFT project. The FCF was founded in 2017 by Sohrob Farudi, Patrick Dees, Ray Austin and Grant Cohen and hosted its debut season inside a bubble environment in Atlanta amid the pandemic last year. The FCF features an indoor version of American football in a seven vs seven-player format, and the games are streamed live on Twitch. The unique feature of the league is that the teams are governed by their fans, who have voting rights on anything ranging from player acquisitions, in-game plays, branding and team selection. For the upcoming season, NFTs will play a key role in the voting process for half of the teams. The $40 million Series A funding round was led by NFT and crypto firms Animoca Brands and Delphi Digital. The funds will be used to expand the league from four to eight teams for the 2022 season, along with launching NFTs called “The Ballerz Collection.” All four of the new teams are owned by figures tied to NFT projects with the Bored Apes and Gutter Cats teams being the latest to be announced following the unveiling of the Knights of Degen and Team 80KI (co-owned by DJ and NFT proponent Steve Aoki) in October. The FCF is rolling out 8,888 Ballerz NFT avatars for each new team which fans can snap up to hodl and obtain voting rights for their team. The NFTs will differ in rarity and value, with the more expensive tokens offering greater benefits such as enhanced voting power, exclusive content and game tickets. Any existing Bored Ape Yacht Club or Gutter Cat NFT hodlers will also receive a 50% discount on Ballerz NFT purchases if they buy tokens corresponding to those teams. The NFTs are slated to drop late this month, and the public minting cost per token will be 0.1776 Ether (ETH) or roughly $580. Four new FCF teams: fcf.ioSpeaking with Cointelegraph , Animoca Brands chairman and co-founder Yat Siu emphasized that fan tokens can enable fans to directly participate in their favorite sports: “One of the most powerful things that tokenization does is release the energy of fans into tangible forms of value and meaning, we see this effect in NFTs and also social tokens.”“Fan Controlled Football is an evolution where the game is in the hands of the fan from the get-go and introducing blockchain technology will give it deeper meaning and purpose for all the fans that are playing FCF,” he added. Related: 3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in cryptoIn an interview with Forbes on Jan. 12, FCF co-founder Farudi stated that the organization is “experimenting” with its format and will continue to do so to find out what works best for the fans and the league. “We don’t know exactly what’s going to work and what’s not going to work. But we don’t have a player’s union. We don’t have 30 owners around the table telling us no. We have one agenda. Our agenda is to be successful. We’re going to experiment to the nth degree to figure out what works and what fans love,” he said.

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Nifty News: Mike Tyson loves Solana, Aoki stops show to flaunt NFT, Apple and the 'AR Verse'

Mike Tyson is living the $DREAMBoxing icon Mike Tyson has stepped into the ring this week, after he shared his enthusiasm for Solana and unveiled a partnership with mental health-focused crypto project TheDreamChain ($DREAM). In the first round, Tyson — who previously launched an NFT project on Ethereum via OpenSea last year — tweeted on Jan. 13 that he was a born-again Solana (SOL) proponent while sharing a screenshot of a new NFT he’d snapped up from the Catalina Whale Mixer project. The Solana-based Catalina Whale Mixer NFTs currently have a floor price of 15 SOL ($2,200), and Tyson’s NFT depicts a whale version of himself wearing a world championship belt along with his famous face tattoo. All in on Solana… Just copped a Catalina Whale… pow pow! pic.twitter.com/97voS15B8y— Mike Tyson (@MikeTyson) January 12, 2022In round two later that day, the 55-year-old tweeted about either what appears to be a partnership or paid celebrity promotion with TheDreamChain. The token’s unusual selling point is that it’s just as difficult and limited to trade as a stock.“It’s the first of its kind that can only be traded during US stock market hours. Could revolutionize the space and help the mental health of the crypto community.”According to TheDreamChain’s website, its token $DREAM is only available for trade between the standard stock exchange hours of 9:30am to 4:pm, with the idea being that 24/7 trading is causing a mental health crisis amongst crypto traders. The project states that it will divert 0.5% of all transaction fees to its own foundation, which will donate funds to mental health charities or use the capital to sign partnerships with non-profit organizations. Apple looking at AR, not the MetaverseAmid a landrush from tech giants toward the Metaverse, Apple won’t be rushing in with its latest gadget according to Bloomberg’s Apple tech reporter Mark Gurman. Gurman shared snippets from the latest Q&A section of his paid consumer tech newsletter via Twitter on Jan. 10 regarding Apple’s upcoming virtual reality headset. He noted that: “Here’s one word I’d be shocked to hear on stage when Apple announced its headset: Metaverse.”“I’ve been told pretty directly that the idea of a completely virtual world where users can escape to — like the can in Meta Platfroms/Facebook’s vision of the future — is off-limits from Apple,” he added. According to Gurman’s understanding, current and former Apple execs such as Jony Ive have always envisioned the firm’s VR headset to be a device used in short “bursts” for gaming, content consumption and communication and not as part of a full-blown Metaverse experience. Instead, Apple is said to be eyeing the augmented reality space (AR) in which the user’s physical experience is enhanced with digital or virtual features via devices such as eye lenses, as they can be worn all day and don’t distract from the immediate environment. Lots of interest in my take on “Apple Reality” and the Metaverse https://t.co/ZmacFcOC9k pic.twitter.com/C4SNbFbULp— Mark Gurman (@markgurman) January 9, 2022

Artemis launches mobile-focused NFT social media platformHong Kong-based blockchain firm Artemis Market launched a new social media and NFT trading platform yesterday. According to a Jan. 13 announcement, the Solana-based platform has initially launched a desktop and mobile web version with limited functionality, and will be rolling out a mobile app and full social features in the near future. Artemis is hoping to attract new users with 0% transaction fees on trading until the end of February. We know all of you have been waiting for this day…And we are finally LAUNCHING NOWhttps://t.co/OBLamZSR18What’s more? ✨0% TRANSACTION FEE✨until end of Feb!Join us and start trading on Artemis NOW!#Solana #NFT #NFTlaunch #NFTmarketplace #SocialFi #ListAndEarn #0TxnFee— Artemis Market (@Artemis_Market) January 13, 2022

The firm stated that it was focused on building a one stop shop mobile platform to provide a user-friendly platform that can be accessed on the go, as it highlighted that the NFT sector currently lacks a “compelling user experience” despite its booming popularity. “We want our users to be able to conduct their whole NFT experience all in one app. From discovering and hanging out with creators, to collecting NFTs, to interacting, sharing and commenting with friends.”Related: China aims to separate NFTs from crypto via new blockchain infrastructureSteve Aoki stops live show to flaunt NFT acquisitionMillionaire DJ Steve Aoki abruptly stopped one of his live music events this week to flaunt a freshly acquired NFT that many of his fans could only dream to afford. Aoki tweeted a video on Jan. 12 sharing his glee at snapping an NFT from the Doodles collection accompanied by a caption that read: “Had to stop my show to celebrate my excitement on my doodle! Nfts make me feel like a kid again.”The Doodles project consists of 10,000 NFT avatars featuring art by popular Canadian artist Burnt Toast. The NFTs currently have a floor price of 11.75 Ether (ETH) worth roughly $38,300 at the time of writing.Aoki is a major NFT proponent with his fingers in multiple honey pots, and his latest behavior suggests early signs of a crippling NFT addiction.Other Nifty NewsA group of editors on Wikipedia voted against classifying NFTs as a form of art on Jan. 12, opting to exclude NFT art sales from the list of top art sales of living artists. They have agreed to re-open discussions at a later date however. U.S.-based music streaming platform LÜM is slated to relaunch as an NFT platform later this quarter. It is shifting its focus to musician-focused fan NFTs that enable users to support the artist of their choosing.

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LÜM to launch ‘Access Pass’ NFTs for 25 globally known musicians

U.S.-based music platform LÜM is set to announce 25 partnerships with globally known musicians as part of a re-launch involving NBA Top Shot’s Dapper Labs later this quarter. LÜM was founded in 2018 and built up a user base of more than 200,000 users with a platform that provided services such as social media, music streaming and micro-tipping for its partnered musicians and fans. The firm has raised around $4.4 million worth of funding since 2018 according to data from Crunchbase, and partnered with popular R&B singer-songwriter Ne-Yo back in 2020. However, LÜM is now moving on fro that business model and is relaunching on Dapper Labs’ Flow blockchain in March with the focus shifting to musician-related NFTs. LÜM will initially roll out an NFT marketplace and fan engagement platform alongside NFTs dubbed “Access Passes.” “When designing our First Fan Access Passes, every detail was taken into account.We wanted to create something that felt exclusive, collectible, but looked & felt functional. Something fans will cherish but could expect to use IRL and in the future music metaverse.”#MusicNFT pic.twitter.com/pnOmfaS7OX— LÜM (@lum_xyz) January 12, 2022Users of the platform will be able to buy NFTs tied to their favorite musicians and trade them amongst a community of fans, while long term hodlers will be granted rewards such as priority access to artists’ future NFT drops, exclusive content and live entertainment experiences. Musicians will be able to build their communities and launch their own Access Passes which can be used to crowdfund projects such as new album releases. It does not require artists to sign away any rights or intellectual property to middlemen according to LÜM.Aim to onboard 100 artists in 2022Speaking with Cointelegraph, LÜM CEO and founder Max Fergus was tight-lipped on who the 25 artists will be for the launch but indicated the wider goal is to onboard 100 top musicians in 2022 to “catalyze the mass adoption of blockchain-enabled technology by artists, and fans”, while the long term aim is to partner with more than 10,000 musicians.Fergus stated that LÜM chose to partner with Dapper Labs and launch on Flow due to the successful and user-friendly model of other NFTs projects on the blockchain such as NBA Top Shot: “For us, we really wanted to model ourselves off NBA Top Shot. A community that was building collective value by bringing players underneath an individual umbrella.”NBA Top Shot is the top NFT project on Flow, and has generated more than $848.3 million worth of secondary sales since launch in late 2020 according to data from CryptoSlam. Fergus stated that LÜM’s shift to the blockchain was part of a push to get behind “revolutionary” Web3 tech and he believes the sector’s impact on the music industry will be as revolutionary as going from vinyl records to online streaming. “I would put it on a very similar level to that. It’s an entirely new way of not just experiencing artists and music but a new way of opening up the total addressable market.”Related: Dapper Labs becomes the first NFT company to register to lobby with the US governmentFergus stated that a major issue he sees in the music industry right now is “ individual creators trying to monetize their individual fan base,” as he emphasized the importance of introducing a blockchain-based platform that links different communities together.“By unifying artists underneath an umbrella, we cannot only cross-pollinate fanbases but easily introduce the blockchain community into artists that maybe they’ve never even known before,” he said.

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'Art emergency': Wikipedia editors vote against classifying NFTs as art

A group of editors on Wikipedia, the free user generated encyclopedia, have voted against classifying NFTs as a form of art and have come to a consensus to shelve the issue until a later date. A survey and debate started on the platform at the end of December revolving around the most expensive art sales by living artists and whether NFT art sales should be deemed as “art sales” or “NFT sales.” “Wikipedia really can’t be in the business of deciding what counts as art or not, which is why putting NFTs, art or not, in their own list makes things a lot simpler,” editor “jonas” wrote. Much of the discussion centered on whether an NFT represented the art or if it was simply a token that was separate to the underlying art. The editors were torn on the definitions and some felt that there was a lack of reliable information to conclude from. A call for votes found five editors opposed to including NFTs in art sales and just one in support. A consensus was made on Jan. 12 to remove sales such as Pak’s NFT collection that fetched $91 million and Beeple’s $69 million NFT from the top art sales list, and re-open the discussion at a later date.The decision seems contentious when looking at Beeple’s NFT “Everydays: The First 5000 Days” in particular, which depicts a collage of original artworks from a renowned digital artist that sold at the prestigious Christie’s art auction house last year in March. The New York Times also described Beeple as the “third highest selling artist” alive at the time. According to Wikipedia’s guidelines, neither unaminty or a vote is required to form a consensus. To reach a decision, the consensus must factor in all participating editor’s legitimate concerns that fall within the platform’s policies. What do Wikipedia editors know anyway?However, the consensus position didn’t go down well with the sole NFT supporting editor “Pmmccurdy” who argued: “How can we have a consensus when, from the start, I have argued in support of including NFTs on this list. The overwhelming evidence from secondary sources places NFT art as art and thus worthy of inclusion on this list.”“If we agree Beeple and Pak are artists, why would their sales not count on this list? I don’t understand the logic here,” they added. Editor “SiliconRed” responded that the consensus they were reading was that: “NFTs should be removed from this list for now with the intention to re-open discussion at a later date. To my understanding, this incorporates all concerns, including yours.” Related: Wiki contributors want to drop crypto donations over environmental concernsNFT proponents such as Nifty Gateway co-founder Griffin Cock Foster were irked by the issue, noting on Twitter earlier today that: “This is pretty messed up to see – Wikipedia mods are trying to say that *no* NFT can be art — as in, if it’s an NFT, it can’t be classified as art.”Foster’s twin brother Duncan also chimed in, labeling it an “Art Emergency” as he called the community into action via a post that was re-tweeted by Gemini co-founder Tyler Winklevoss. “Wikipedia works off of precedent. If NFTs are classified as ‘not art’ on this page, then they will be classified as ‘not art’ on the rest of Wikipedia. Wikipedia is the global source of truth for many around the world. The stakes couldn’t be higher!” he said Art Emergency!! There is a debate happening rn on @Wikipedia that has the potential to * officially categorize NFTs as ‘not art’ on all of Wikipedia. *Wikipedia is a global source of truth. Having NFTs categorized as ‘not art’ would be a disaster!:— Duncan Cock Foster (@DCCockFoster) January 12, 2022Everipedia, a decentralized Web3 equivalent of Wikipedia, responded to the platform by comparing its approach to NFTs and art: “Everipedia editors have created over 100 pages on #NFT collections while Wikipedia is moving to mark NFTs as “not art” across their platform. It’s time for NFT projects to move to Everipedia $IQ, a Web 3.0 encyclopedia which supports art and innovation.”This isn’t the first time Wikipedia has had issues with reporting crypto-related information. Cointelegraph reported in September 2020 that anti-crypto activist and senior Wikipedia editor David Gerard helped remove an entry relating to Australian blockchain software firm Power Ledger. Gerard stated the post was deleted on the “basis of being a pile of press-release churnalism, and the only genuine press coverage was about how Power Ledger was a scam,” despite the entry being sourced from reputable publications such as TechCrunch and The Economic Times.

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Buy high, sell high: Custom pipe-maker to Snoop Dogg and Santana tokenizes bongs

Las Vegas-based glass pipe maker to the stars Jerome Baker Designs will launch a series of bong-related NFTs tied to corresponding physical assets early next month.The NFTs, on FDCTech’s Ethereum-based platform, depict the unique glassblowing process for each bong and come with additional unique benefits. They are due to drop on Super Bowl Sunday (Feb. 13) and the corresponding physical bongs will be auctioned off at Superchief Gallery. Jerome Baker Designs Founder and President Jason Harris is considered to be one of the top ten glassblowers in the world, according to smoking products marketplace SLX.He founded the business in the early 1990s and has built custom-made pieces for celebrities such as Snoop Dogg, George Clooney, Grateful Dead, Santana and Rita Marley.He told Cointelegraph he is excited to step into the world of crypto-driven digital art. “As an artist, we need a certificate of authenticity to connect to the art. NFTs act as a certificate of authenticity and create value and legacy.”According to Harris, while other forms of art like sculptures can be bronzed and paintings replicated or copied, glassblowing is a one-time effort that cannot be replicated. “You will have a documented experience of the creation of that artwork and in that lay the magic. It’s like buying a pair of Jordans. If you ever want to sell them, you might need the packaging in perfect condition. The NFT acts as a certificate of authentication and the artwork acts as the package.” An early concept behind the NFT collection: Jerome Baker DesignsHarris said the five bong NFTs to launch on Super Bowl Sunday will be in line with his Burnt Orange collection, a collection of translucent bright orange glass bongs. Those who own a bong NFT will receive real world benefits such as glassblowing classes and a visit to the Las Vegas Dream Factory (Jerome Baker Designs Headquarters). Related: PayPal reportedly confirms plans to explore the launch of a stablecoinThis is not Jerome Baker Designs first foray into blockchain and the studio has been accepting Bitcoin since 2012. Harris believes that the global population will soon jump on the bandwagon and accept the crypto asset for payments. The company plans on accepting Ethereum payments shortly.

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GameStop shares jump 26% in after hours trade after NFT division unveiled

The share price of Reddit’s cult-favorite stock GameStop Corporation (GME) jumped by one quarter (in after-hours trading following a Wall Street Journal report on its upcoming NFT division. The U.S. retail game store giant has been quietly working on an NFT marketplace since May, and ramped things up in October by listing several job openings for Web 3.0 and NFT-experienced software engineers and product marketers. According to a Jan. 6 report from the WSJ, GameStop has now hired more than 20 people to operate its freshly minted NFT unit. An unnamed source familiar with GameStop’s plans told the outlet that the unit is building an NFT platform that enables the buying, selling and trading of gaming NFTs, along with establishing key cryptocurrency partnerships. The marketplace is slated to launch later this year, and the firm is said to be close to penning partnerships with two crypto companies that will share technology and co-invest in the development of blockchain and NFT games, along with other additional NFT projects.The news was warmly welcomed by after-hour traders who drove the price of GME up 26% since th market close to sit at $162.48 at the time of writing according to Tradingview. After-hours trading (AHT) is often quite volatile due to a lack of liquidity in the market but impacts the price of a stock in a similar way to regular trading. However, the WSJ’s lack of named sources, or direct confirmation from GameStop has raised the eyebrows of some more conspiratorially-minded GME fanatics. In a post that has 1,100 comments and a 97% upvote ratio on the r/Superstonk Reddit community, user “u/brettmagnetic” questioned if the WSJ article could actually have that much of a bullish effect on after-hours GME trading. “Sorry, but I don’t believe the movement in price after hours has to do with the WSJ posting about the Gamestop NFT market. I think something else is happening and this article was put out to give the NFT market as the scapegoat for the price increase.”User “MrFlags69” echoed similar sentiments, arguing that: “The author credited ‘the people’ as the only source I saw. This is anything but journalism.”Neither GameStop nor RC said shit today. WSJ is not on GameStop’s side. I’m not convinced that the AH bump was due to news about an NFT marketplace but rather a cover story for something going on BTS like forced FTD covering or margin calls. In any case, I buy and hold. pic.twitter.com/jDQFtTYIBr— ssddman.eth (@0xssddman) January 6, 2022

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Why Kevin O'Leary thinks NFTs could become bigger than Bitcoin

Millionaire investor and crypto proponent Kevin O’Leary thinks that the NFT sector could be worth more than Bitcoin in the future. Speaking with CNBC’s Capital Connection on Jan. 5, O’Leary — also known as Mr. Wonderful — argued that NFTs provide a greater potential to attract capital than Bitcoin due to their ability to tokenize and authenticate physical assets such as cars, watches and real estate: “You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone.”Mr. Wonderful admitted however, that he is not tied to that bet and will still be investing on “both sides of that equation.”The former crypto skeptic told Cointelegraph in a recent interview that his change in tune towards blockchain and digital assets was due to the growing trend of regulators warming up across the globe over the past couple of years. Not everyone agrees with comparisons between Bitcoin and NFTs however, with Coingecko digital marketing associate Khai Ren Kuan telling Cointelegraph that it’s “probably not fair to compare Bitcoin, which is a single asset, to NFTs which are an entire sector.”Kuan did note however, that the NFT adoption curve in 2022 is only going to increase upwards as the sector is still in its early days:“I think collectively if you look across all NFTs, and the fact that 2021 was year one of market adoption, there’s definitely still a lot of room to grow.”“We’ve already got a set of ‘blue chip’ NFTs, but I think the industry is still barely scratching the surface of what NFTs could be and what they could do, particularly if the Metaverse comes to fruition,” he added.Related: Global search interest for ‘NFT’ surpasses ‘crypto’ for the first time everCoingecko recently published a new book called “How to NFT” which provides a rundown for newbies entering the nonfugible space on how to buy, sell, store and mint NFTs. Questioned on whether he thinks the “NFT art narrative” will continue to dominate in 2022, or if the trend will shift towards utility-based NFTs, Kuan said: “Arts and collectibles are always going to be high on the list as they’re the most beginner-friendly and easiest to understand. In terms of utility NFTs I think what’s probably interesting to watch for is how some NFTs are going to both be art, and have utility.”“We’ve seen BAYC which the NFT doubles as membership into their ‘club’, and it really helps build a sense of identity and community,” he added.

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