Connect with us

Projects

As The First Music-Focused NFT Marketplace in Asia, FANSI Is Redefining Music Collection

Published

on

Used to be a crowdfunding platform that supported influencers in building their brands and businesses, FANSI turned into a music-focused NFT marketplace in April 2021.

The founder of FANSI Tai-Ku Chen said, the value should return to the music and musicians rather than staying with management agencies or streaming platforms. NFT (Non-fungible token) achieves this goal by making digital ownership a possibility.

With a world-embracing view, FANSI believes that Taiwan’s music culture has been leading Mandarin music market for the past few decades. Tai-Ku Chen has high expectations to enter the global market with this local advantage.

Besides, vinyl record collections have been revived recently. FANSI thinks this means consumers are gradually familiarizing themselves with collecting music as art again. However if compared with listening to high quality music, the behavior is closer to “collecting memories”. Therefore, instead of making new songs into NFTs, FANSI focuses more on revealing the DEMO versions or the stories behind the songs to provide an opportunity for fans to collect these cherishable memories.

Despite the fact that auction is the most common sale format in the current NFT market. FANSI is seeking new possibilities to make NFT drops more attractive. FANSI customizes the selling and pricing strategies for each artist. Time-limited drops and gacha style sales are great examples.

One interesting example of NFT sale format is “drawing”.  For example, customers can draw different versions of <Taipei New York DEMO> made by Ma Nien-Hsien, a famous singer and songwriter in Taiwan, with the potential to win a chance to watch the rehearsal backstage.

After sign-up, buyers can share their NFT collections to others and sell them on secondary marketplaces very easily. Unlike traditional records, creators could receive part of the proceeds for every sale made on the secondary market, which means that profit would no longer be taken away by management agencies or music publishing platforms.

Emphasizing on collection of memories and renewal of the value of music, FANSI considers the inspiration and stories of the music vital parts of the NFTs they sell. Nowadays, OTT platforms are the norm and consumers seldom purchase CDs. Record companies are also trying to find new ways to survive. NFT is a new business model for record labels to revive their old music assets sitting in the basement, re-publishing classic songs or revealing the mystical inspirations or DEMO versions can be part of the future, FANSI said.

Projects

Is Walmart Getting Ready to Make a Move into the Metaverse?

The retail behemoth filed seven patents, indicating that it intends to develop its own digital money and NFT collection.

Published

on

#nft #nfthours #walmart

With patent filings showing that it aims to build its cryptocurrency and NFT collection, it looks that retail behemoth Walmart Inc. is getting ready to enter the Metaverse.

On December 30, the multinational retailer registered many new trademarks with the United States Patent and Trademark Office. Still, they went unreported until a CNBC article on January 16 shed additional light on Walmart’s plans.

At the time, Walmart had filed seven patent applications, three of which were under its current advertising subsidiary “Walmart Connect.”

Plans to develop and sell “virtual items,” such as electronics, toys, appliances, clothes, and home decor, were included in the applications. There’s also talk of “digital money” and a “digital token” and buying and selling NFTs.

In the meantime, a separate application reveals plans to trademark the Walmart brand name and logo in virtual reality (VR) and augmented reality (AR), with the possibility of launching “physical fitness training services” in VR and AR.

This is the most recent in a series of incidents suggesting Walmart’s interest in the Metaverse. In August, the retail behemoth posted a job opening for a “digital currency and crypto product lead” to spearhead its digital currency strategy.

Although the job posting has since been taken down, it is unknown whether the position has been filled. A search on Linkedin for someone in the role at Walmart yields no results.

Walmart has teamed with Coinstar, a crypto ATM firm, and Coinme, a crypto-cash exchange, to deploy 200 Bitcoin ATMs in its shops across the United States in October.

Walmart has also been using blockchain technology since 2018 for supply chain management, customer markets, and intelligent products.

According to Morgan Stanley analysts, the Metaverse might provide retailers with an $8 trillion potential.

According to Digital Commerce 360, Walmart’s sales reached $11.1 billion in the third quarter of 2021. With a market valuation of over $406 billion, Walmart is the largest private employer in the United States. In addition, it owns a hypermarket, discount department store, and grocery store chain.

Continue Reading

Projects

Cuban Discusses his ‘Non-Shark’ Cryptocurrency and NFT Interests

Mark Cuban, the billionaire shark investor, acknowledged in a recent podcast that virtual assets account for 80 percent of his non-Shark money. Cuban has been very public about his admiration for cryptos since the beginning, so this statement comes as no surprise.

Published

on

#nft #nfthours #cuban #crypto

“80% of the investments that I make that are not on Shark Tank, are in or around cryptocurrencies.”

He went on to say,

“The investments I’m making now are not in traditional businesses.”

The television personality’s NBA team, the Dallas Mavericks, struck a deal with cryptocurrency platform Voyager last year. His brand also accepts Dogecoin for payment due to his numerous other crypto agreements. He also stated in this context,

“Put aside all the speculation you read about with Bitcoin and Dogecoin, all that. Set that aside, that’s just the gamesmanship that’s played with stocks and everything.”

However, he recently indicated in a podcast that he is now considering decentralized autonomous groups (DAOs).

“Every token holder in that application has a chance to set the direction of the network, not always equally, but typically equally. That is really where I look to invest.”

Cuban has previously predicted that DAOs could lead to “disruptive” business prospects.

Cuban is also optimistic about smart contracts, the lifeblood of DAOs, DeFi, and NFTs. Meanwhile, his NFT wallet appears to be filled with Ethereum, Polygon, and Solana items.

It’s worth mentioning that the serial investor recently participated in a capital round for Seattle-based fintech Seashell. An investment firm that aims to provide high yields through crypto-backed loans. Aside from that, Cuban has previously stated that his BTC, ETH, and alt portfolios are split 60 percent, 30 percent, and 10%, respectively.

Continue Reading

Projects

The Rug Has Been Ripped Out from under Frosties NFT Investors, who have Lost Almost $1 Million

Frosties NFT investors were enticed to the enterprise by false promises of prizes and gifts.

Published

on

#nft #nfthours #frosties #scam

On January 9th, investors in an NFT collection named Frosties were duped out of almost $1 million as the inventors of the digital tokens disappeared with their money.

Frosties NFT investors lost $1.3 million

According to published information, the collection had 8,888 NFTs, and the floor price was 0.04 ETH, which is nearly $120.

All of the NFTs were sold within an hour. Still, instead of receiving their coveted asset, investors discovered that the project developers had turned off all communication routes with the community.

According to Etherscan, the developers had shifted most of their funds out of the wallet associated with their OpenSea account and into another wallet.

The Frosties NFT project was thought to have significant intentions for its backers, promising “staking, metaverse [and] breeding functions.”

Aside from that, the idea offered “giveaways, airdrops, early access to the metaverse game, and unique mint passes to the following seasons” to those who invested.

Marcellus King, a first-time investor in the space, said he put $3000 into the fraud. He said he was initially wary of the project. Still, He was persuaded after seeing that it “had a flourishing community with a lot of activity, a roadmap, legitimate-looking site, OpenSea account, and artwork.”

Unfortunately, this was all a gimmick to get others to invest in the project.

Investors are trying to figure out how to get their money back

The project’s original developers may have vanished with the investors’ money, but it looks that they are not giving up on the idea.

The NFT’s original owners have started a Discord group chat where they’re now talking about “unrugging the Frosties.”

The organization is now working on a wrapped contract that would aid in the restitution of stolen funds to their proper owners.

One of the group’s approximately 1400 moderators revealed that they are “diligently working behind the scenes to gain control of the project in some way.”

NFT scams in recent times

While this may be the first documented NFT scam of the year, we reported on a number of them last year.

One of the scams we discovered involved “Iconics,” a Solana-based NFT project that cheated investors out of over $130,000 and instead sent them a random assortment of emojis.

Nervos Networks and Pastel have formed a new cooperation to fight concerns such as “rug pulls, NFT disappearances, data losses, and manipulation.”

Continue Reading

Trending

bitcoin
Bitcoin (BTC) $ 42,153.00 1.61%
ethereum
Ethereum (ETH) $ 3,185.33 2.59%
tether
Tether (USDT) $ 1.01 0.40%
chiliz
Chiliz (CHZ) $ 0.255168 2.83%
enjincoin
Enjin Coin (ENJ) $ 2.27 5.32%
decentraland
Decentraland (MANA) $ 2.85 6.51%
flow
Flow (FLOW) $ 7.05 6.65%
the-sandbox
The Sandbox (SAND) $ 4.52 5.86%
wax
WAX (WAXP) $ 0.386413 5.41%
ecomi
ECOMI (OMI) $ 0.007407 0.79%
terra-virtua-kolect
Terra Virtua Kolect (TVK) $ 0.163515 7.12%