AVAX price soared to a record high as heavy inflows enter the protocol through its cross-chain bridge and institutional investors pledge $230 million in funding for the rapidly expanding Avalanche ecosystem.
What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
- NFT’s for a better world: Music producer auctioning his personal Snoop Dogg Platinum plaque for a philanthropic stand
Snoop Dogg RIAA Certified Platinum Plaque NFT Drop by Tito Rodriguez takes a philanthropic stand and raises money for charity.589
“Looking back on this in one year, two year, three years from now it could be a monumentally dumb decision but it also could be a great decision,” said Dan Markham.5980
A cross-chain bridge to Arbitrum, protocol upgrades and a steady surge in network activity back REN’s 340% rebound off its July 20 swing low.4186
This DeFi ecosystem is disrupting e-commerce by leveraging DeFi protocols to build the next Amazon.4396
Nafty has launched an erotic-themed NFT marketplace, while DeviantArt is tracking down art theft on NFT marketplaces, and the Rugby League World Cup is dropping NFT collectibles.5434
SolBlocks admits that while they did pirate the code, their NFTs are not copies of Tyler Hobbs’ “Fidenza” collection.5469
New partnerships, NFT integration and a market-wide surge in altcoin prices back HBAR’s recent 150% rally.10459
The metaverse, a virtual environment of digital experience and a world of limitless opportunity, is closer than ever before as a result of the rise in play-to-earn NFT games.4969
Allegations of NFT insider trading have been confirmed by OpenSea, which issued a statement about its head of product lead.5371
Why do classic NFTs from 2017 continue to trade for high prices, and will new projects be as successful, even if NFTs lose value over time?2557
Apple has barred Gnosis Safe from applying an app update unless the firm provides access to NFTs as an in-app purchase.4029
An expanding ecosystem and the full launch of Elrond’s DeFi capabilities back EGLD’s rally above $300.8675
They decay! They grow back! They transform with the passage of time (sometimes into zombies!) Koii Network’s new NFT standard introduces a host of fresh possibilities to the world of blockchain collectables.6573
The drop came in sync with the overall crypto market decline in recent sessions.4777