Tag: NFT

China to Launch State-Owned NFT Marketplace

Since the banning of cryptocurrencies in China, the subject of NFTs has fallen under a legal grey area. China has unveiled plans to launch the first state-owned NFT marketplace. The marketplace, whose name translates to “China Digital Asset Trading Platform”, will launch on January 1 at a physical event in Beijing. According to the report, the platform is built on a unique blockchain, the China Cultural Protection Chain. Also, it will be run by China Daily, China Technology Exchange, Art Exhibitions China, and Huban Digital. Using the platform, Chinese NFT…

Fidelity plans NFT marketplace: Nifty Newsletter, Dec. 21–27

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In this week’s newsletter, read about investment giant Fidelity planning to enter the nonfungible token (NFT) space and how Italy’s NFT market will grow. Check out how North Korean hackers use phishing websites to target NFT holders and listen to a conversation with Crypto Raiders in the NFT Steez podcast. And, don’t forget this week’s Nifty News featuring Japanese gaming firm Square Enix investing millions in an NFT game developer.  Fidelity plans NFT marketplace and financial services in the metaverse On Dec. 21, investment firm Fidelity filed three trademark applications…

China’s first national NFT marketplace to launch next week: Report

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According to a report published by local news outlet Sina News on Dec 28, China will launch its first regulated platform for nonfungible tokens (NFT) trading on Jan 1, 2023. The entity, which acts as a secondary market for the exchange of NFTs, was created by the state-owned Chinese Technology Exchange, the state-owned Art Exhibitions China, and Huban Digital Copyrights Ltd, a private corporate entity.  In addition to NFTs, the platform will also facilitate the trading of copyrights related to digital assets. The project aims to “regulate and avoid the…

Is SOL About To Crumble? Major NFT Projects Plan To Switch To Other Blockchains

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In the preceding 24 hours, the sentiment of the cryptocurrency market as a whole was mixed, as the majority of top cryptocurrencies experienced mixed price changes. Solana is in a difficult position, since two of the ecosystem’s most prominent NFT projects are abandoning its network for rivals.  The outlook on the crypto remains bearish in 2022. On Monday, DeGods announced that the NFT collection will bridge to Ethereum in the first quarter of next year. The y00ts NFT collection, which is part of the same cohort, will move to Polygon. The official…

Italy NFT Market Goes Wild, Upward Projection till 2028

The NFT buzz went beyond the art industry to reach the Italian fashion space. Italy is reportedly looking to develop the crypto art renaissance through its non-fungible token (NFT) market. As one of the cultural hubs in Europe, the country is grounded in culture, history, and art. Citing Q2 2022 NFT Survey, data from Research and Markets “Italy NFT Market Intelligence and Future Growth Dynamics Databook” states the expected growth for the NFT market. Data projected the industry to surge 47.6% on an annual basis. With this projection, the NFT…

Fidelity plans NFT marketplace and financial services in the Metaverse

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$4.2 trillion asset management firm Fidelity Investments has filed trademark applications in the United States for a host of Web3 products and services, including a non-fungible token (NFT) marketplace and financial investment and crypto trading services in the metaverse. This is according to three trademark filings submitted to the United States Patent Trademark Office (USPTO) on Dec. 21, of which was also highlighted by licensed trademark attorney Mike Kondoudis in a Dec. 27 tweet. #Fidelity has plans for the metaverse! The company has filed 3 trademark applications covering▶️ NFTs +…

2 NFT Projects Plan to Transition From Solana to Alternative Blockchains – Bitcoin News

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Two prominent Solana projects have announced they are transitioning over to new blockchains. The non-fungible token (NFT) venture Degods detailed it will be moving to the Ethereum chain and the Y00ts NFT team detailed it is moving to Polygon. Both teams said the transitions will take place in 2023. Degods Says NFT Project Will Move to Ethereum, Y00ts Details NFT Venture Is Transitioning to Polygon The crypto community has been discussing two crypto projects that have said the teams plan to transition their ventures from the Solana blockchain network to…

Monthly NFT Sales Are 80% Lower Than Last Year, Digital Collectibles Interest Plummeted in 2022 – Bitcoin News

Like most crypto projects this year, non-fungible tokens (NFTs) felt the pain of 2022’s crypto winter as sales are down a great deal and blue-chip NFTs have been slashed in value. For instance, last month, there was roughly $534 million in NFT sales compared to the $2.77 billion in NFT sales sold in Dec. 2021. The NFT Industry Takes a Hit in 2022 — Sales and Google Searches Down Significantly 2022 hasn’t been kind to non-fungible token (NFT) holders, and statistics show that interest in the subject has dropped a…