In this week’s newsletter, read about how Animoca Brands co-founder Yat Siu believes that nonfungible token (NFT) games are only at the tip of the iceberg in terms of potential. Check out how an executive at Kraken highlighted that NFTs will be as disruptive as Bitcoin (BTC) and how a museum in Ukraine is preserving the country’s cultural heritage through NFTs. In other news, find out how an industry executive claimed that brands have a lot of responsibility in terms of protecting their NFT investors against fraud. Last but not least, British actor Anthony Hopkins sold out his NFT collection within minutes of its release.
NFT games are ‘only scratching the surface’ of what’s possible — Animoca’s Yat Siu
The co-founder of Animoca Brands, Yat Siu, highlighted that NFT games are only at the surface of what is possible for the space. The executive believes that there are new forms of gaming that will be developed as a result of NFT's inherent features like digital ownership.
In an interview with Cointelegraph, the Animoca Brands co-founder highlighted the potential of NFTs to branch out into mobile phones. According to Siu, mobile phones and artificial intelligence can play a huge part in the development of NFT gaming.
NFTs will be ‘as disruptive’ as Bitcoin was 10 years ago — Kraken exec
Jonathon Miller, an executive at crypto exchange Kraken, likened NFTs to Bitcoin in terms of disruptiveness. According to Miller, the exchange is bullish when it comes to NFTs and believes in their innovative features.
Speaking to Cointelegraph, Miller highlighted that despite the low NFT activity in recent months, there are positive signals at the institutional level. According to the executive, the NFT space has the potential to eventually stabilize and have gradual growth.
Ukrainian art museum to preserve art and cultural heritage through NFT auction
Kharkiv Art Museum has announced that it has released an NFT collection with the purpose of saving the cultural heritage of Ukraine. The collection, dubbed Art without Borders, is available at the Binance NFT Marketplace.
Kharkiv, a city that has been affected by the country’s ongoing conflict with Russia, can preserve its culture by turning artworks from the museum into NFTs. At the moment, artworks by Albrecht Dürer, Georg Jacob Johann van Os, Ivan Aivazovsky, Simon de Vlieger and others are already converted into NFTs and are available in the collection.
Industry exec explains why NFT fraud protection falls on brand and not marketplaces
Brands that issue NFTs have more responsibility in terms of protecting consumers than NFT marketplaces, an industry executive argued. In a Cointelegraph interview, BrandShield CEO Yoav Keren said that brands that issue NFTs must be proactive in terms of protecting their investors from fraud.
The executive claimed that brands must be the first to take action to protect their customers across all platforms. According to the CEO, brands must also keep the legal implications in mind when it comes to the misuse of their image.
Academy Award winner Anthony Hopkins sells out NFT collection in minutes
British actor Sir Anthony Hopkins has sold out his first NFT collection, dubbed The Eternal Collection, within 10 minutes. Orange Comet, the actor’s partner in creating the NFTs, claimed that the NFT drop is the fastest sell-out in the history of the NFT marketplace OpenSea. Celebrating the release of his NFT collection, Hopkins took to Twitter to thank his fans for their support.
Inspired by the actor’s performances, the NFTs feature 1000 cinematic artworks. Apart from the art, the NFT images come with other benefits like receiving autographed books and engaging with the actor through a Zoom call.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.