NFTs in a nutshell: a weekly overview


This week’s heated debate (courtesy of Moonbirds) sparked a variety of opinions about creative commons, licensing in general, and NFT projects. Meanwhile, Tiffany’s new hangers sold out quickly, Instagram continues to make a concerted push into the space, and there’s a textbook publisher looking to use NFTs to collect some of its secondary sales. This weekend we are ready again with a new one Nutshellviewing all NFT activity from the past week.

Let’s take a look at all the biggest stories from last week.

This week’s non-fungible token news

CC0: The debate of the week

A hot topic via crypto Twitter and in NFT corners this week was a move from moonbirds, who have shifted their property rights model to cc0, or creative commons. Basically, this essentially made Moonbirds a public domain, stripping owners of rights around their respective intellectual property. It’s a move by the founder of Moonbirds Kevin Rose Believes “honor and respect the values ​​of the internet and web3.”

This led to differing opinions on the matter as the project began to see a sell-out and subsequent bump. Moonbirds Creators Proof Collective opened a survey to gather opinions from community members after the announcement.

Tiffany Raises Over $12 Million in Just Minutes with CryptoPunk Pendants

Priced at 30 ETH (about $50,000) each, Tiffany released a limited release of CryptoPunk pendants this week, which sold out in about 20 minutes. A total of 250 ‘NTiff’ NFTs have been released following Tiffany’s official announcement a week ago.

After selling the NFTs, Tiffany offered a linking mechanism that allowed CryptoPunk owners to link their NFT to their Punk and redeem their custom pendant.

Meta to extend NFT support on Instagram in over 100 countries

Meta has not shied away from crypto and NFT business over the years, but few efforts have proved fruitful. The latest product of promise around non-replaceable tokens is Instagram, which has been slowly integrating NFTs into features on the social media app; this week, the company announced initiatives to expand their digital collectibles sharing capabilities to several new continents — more than 100 countries in all. In addition, the Zuckerberg-led platform announced new connections to Coinbase Wallet and Dapper Wallet, and integration with the Flow blockchain – leading to a major bump for the FLOW token.

The move marks Meta’s final efforts to get involved in NFTs, despite a tough road so far.

Related literature | Elon Musk alleges Twitter committed fraud in $44 billion lawsuit

Polygon (MATIC) is the blockchain of choice for a new release from beverage behemoth Coca Cola. | Source: MATIC-USD on TradingView.com

Textbook Publisher Pearson Tracks Secondary Sales Through NFTs

Textbooks are known to be a collegiate burden that is hard to escape. While not always an option, many classes have used books as an option, and to date publishers have not aggressively sought a share of secondary sales — especially since there hasn’t been a low-risk option that doesn’t require large investments. However, non-replaceable tokens have apparently attracted the attention of the major textbook publisher, Pearson.

The company is exploring NFT textbooks, according to reports from last week, but for what purpose remains to be seen. With tokenized textbooks, Pearson could collect a percentage of resale transactions, but the price impact of textbooks (which really remain the bottom line in this discussion) as a result is hard to measure.

NFTs.com domain commands a hefty price tag

Step aside, ENS. It pays to have a little Web3 in your Web2. At least that seems to be the case after the sale of ‘NFTs.com’ this week, as the domain sold for about $15 million – one of the largest public domain deals in history and certainly one of the largest. (if not the largest) this year. The domain currently leads to a single page view.

Solana’s Magic Eden Marketplace to Accept Ethereum

There is never a dull moment in the Solana sphere, it seems. This week, Solana-based powerhouse marketplace Magic Eden announced support for Ethereum, which is expected to go live later this month. Magic Eden has been by far the leader in Solana NFTs and will now try to take the dominant share of the Ethereum markets. Magic Eden joins a growing number of platforms, spanning a variety of blockchains, that see the future as multi-chain.

Related literature | Bitcoin is a ‘Remarkable Cryptographic Achievement,’ Says Ex-Google CEO

Featured image from Pexels, Charts from TradingView.com

The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.





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