An NFT is a unique digital token on a blockchain that may be tied to a physical asset such as art. To succeed, however, a government-issued NFT would need to encompass both utility and community, according to industry experts, who said the NFTs could give holders access to events or even a moment with the queen. Original Source ExpertsNFTPerksRangeSucceed CryptoX Portal
sponsored Dubai, Tuesday, August 30th – Zogi Labs Ltd. officially releases The Legends of Bezogia Beta to global audiences seeking to experience an NFT crypto-based MMORPG like never seen before. The Legends of Bezogia takes the crypto gaming industry to new heights with next-level graphics, a rich and deep backstory, countless quirky characters & villains and a massive open world. Players can rent, own & sell their own NFT Bezogi characters and kit them out with NFT weapons that add unique flavor to the gameplay never seen before in an…
PROOF, the private community behind the Moonbirds NFT collection, has announced it is shifting its blue-chip collection completely “in chain” — allowing images to be fully contained within the underlying smart contract. In a community live stream named “Future PROOF” on Aug. 30, Harri Thomas, director of products at PROOF explained that the new approach will mean that in the future, the viewable image of a Moonbird NFT will be “constructed from the contract itself from art layers, which are going to be stored on the blockchain.” “We’ve talked about…
During today’s event, the company released new details about PROOF’s third NFT collection: Moonbirds Mythics, a 20,000 PFP (profile pic) collection slated to launch in early 2023. Moonbirds DAO, a decentralized autonomous organization (DAO) will oversee licensing of the company’s Moonbirds NFT brand, granting trademark rights and distributing funding to upcoming NFT projects. Source
A continuing debt issue at lending platform BendDAO raises the prospect of the NFT bubble imploding. As concerns about a potential market bubble mount, daily volumes on OpenSea, the world’s most significant nonfungible token (NFT) marketplace, have dropped significantly. OpenSea Volume Plummets to Yearly Lows Notably, the marketplace executed about $5 million in NFT transactions on August 28 — roughly 99% less than its record high of $405.75 million on May 1. The precipitous decreases in daily quantities coincided with equally sharp drops in OpenSea users and transactions, implying that…
Meta, the corporate entity behind the social media platforms Instagram and Facebook, has revealed that non-fungible token (NFT) support now offers cross-posting compatibility between the two major social media platforms. The digital collectible-sharing ability follows Meta rolling out NFT and Web3 wallet support to 100 countries during the first week of August. Meta’s NFT Rollout Continues as Social Media Giant Introduces the ‘Ability to Post Digital Collectibles’ Meta Platforms, Inc. (Nasdaq: META), announced on August 29, 2022, that the firm is “introducing the ability to post digital collectibles” across Instagram…
Tokenproof, a token-gating platform, is building a way for NFT holders to prove they own their Bored Apes without putting that high-value NFT at risk. That utility is growing ever more important as real-world opportunities for holders to score ownership benefits – attending events, for example – explode, said CEO Alfonzo Olvera. Source
Singapore’s state investment fund Temasek, one of the world’s largest investors, is to lead a $100 million funding round into non-fungible token (NFT) and metaverse investor Animoca Brands, Bloomberg reported Monday. Source
Fireblocks connects to some 35 blockchain networks and works with an array of Web3 companies including Animoca, MoonPay, Xternity Games, Griffin Gaming, Wirex and Utopian Game Labs. The latest Solana integration uses WalletConnect V2, a protocol for bridging decentralized apps, upgraded to securely enable vault connections to non-EVM chain dApps, according to a press release. Source link
There is no denying that nonfungible tokens (NFTs) have taken a hit in recent months. Market conditions have plunged, scams and hacks are frequent, and there is an increasing number of low-quality projects, pushing many to question the value of NFTs and their place in Web3 altogether. Even popular projects like the Bored Ape Yacht Club have taken a hit, with floor prices dropping below $100,000 this year. Over the last crypto cycle, NFT market conditions have been largely correlated to and reliant upon the general crypto market. As technology and digital assets…