Although 2020 was a major year for cryptocurrencies and the start of DeFi’s rise, 2021 will be all about non-fungible tokens (NFTs). NFTs aren’t exactly new. The underlying idea behind NFTs didn’t come to fruition until the launch of Cryptokitties, an Ethereum-based game.
Since then, NFT-mania has erupted, resulting in sky-high prices for one-of-a-kind collectibles. Global musicians, entertainers, actors, and other high-profile individuals have raised visibility and also inspired legacy auction houses including Sotheby’s and Christie’s to participate.
The platforms and tokens that sustain these novel creations are one of the major drivers of this trend. The dynamic approach of NFTs, according to Luis Aureliano, a financial analyst and macroeconomics specialist with more than 15 years of experience, is another significant step toward making blockchain more relatable to a wider audience.
“Cryptocurrencies, though becoming more practical, have had a slow acceptance rate due to their limited appeal. NFTs also sparked widespread interest, due in part to a slew of celebrity endorsements that have brought national exposure to the nascent industry.”
According to Luis, the platforms that have fueled NFTs’ rise in popularity are the very epicenters of their creativity, as evidenced by rising native token valuations.
“Some of these platforms’ services were deemed worthless when they first appeared. Now, these same companies are laughing all the way to the bank as pop culture, art, and collecting make their way into their ecosystems, boosting blockchain interaction. The value of corresponding tokens reflects this fact and foreshadows NFTs’ future potential.
These nine native NFT platform tokens, according to Luis, are worth keeping an eye on as their success and stewardship herald a new age for blockchain’s usability and scope.
At the moment, Ethernity Chain is one of the most popular NFT platforms. In March, the value of its utility token, ERN, increased dramatically. It was listed for $0.275 when it first launched on March 8, 2021, but this number quickly jumped to $3.50 after its IDO on Polkastarter ended. It was trading at $33 within five days, and on March 27, 2021, it hit an all-time high of close to $74. Despite the fact that the price has since fallen to $38.7, its price trajectory in less than a month indicates that it has considerable potential.
Ethernity Chain is a digital art marketplace that sells NFTs sports cards, collectibles, and digital artwork. Its mission is to donate a portion of its profits to charity and encourage social good. It also assists artists and other creatives in auctioning their works, with a portion of the proceeds going to the artist’s chosen charity. The platform is still growing, and it recently announced a partnership with Kinetic Company, a crypto investment firm that will help it broaden its ecosystem.
Ethernity recently took a giant step toward revolutionizing the licensing industry by teaming up with Jason Hauser, a well-known digital artist. This is consistent with Ethernity’s trend of collaborating closely with top artists in order to promote them better.
Theta blockchain is a network that uses its cryptocurrency to stream videos. It was created to address the issues facing the streaming industry by incentivizing users to share their network bandwidth. In return, users are given Theta tokens. Theta has enormous potential as the only end-to-end platform for decentralized video streaming and distribution.
THETA is currently worth $11.79, and as the Theta blockchain develops, there is more space for development. Surprisingly, the asset was once among the top ten crypto assets by market capitalization, indicating its immense potential. It was founded in 2018, and it already has backing from Samsung Electronics’ venture arm and Sony Corporation’s Innovation Fund, indicating that it has the support of major industry players.
SuperFarm is another NFT platform to keep an eye on. Its creators defined it as a cross-chain DeFi protocol that can convert any token into an NFT farm without the need for any coding. This would address the dilemma of many crypto projects’ underlying assets and tokens having tangible usefulness. The platform provides a set of tools that projects can use to incentivize behaviors and add value to tokens.
The SuperFarm token is currently valued at $2.77, more than double its value from a month ago as more people understand its utility and value. SuperFarm is a fantastic forum for crypto-to-crypto and NFT farming because it is so easy to use. Its user interface is excellent, and its NFT infrastructure is extensive, with an NFT marketplace, NFT generation, ERC20 generation, NFT multiverse video game, NFT farming, and Crypto farming capabilities all available.
This is a platform that should excite anyone who enjoys gaming and is interested in blockchain technology. Decentraland is a decentralized virtual reality gaming platform that was announced in 2018 but was not available until 2020. The platform is built on Ethereum and is designed to help people create, build, sell, and host virtual assets.
Users can purchase virtual properties on Decentraland in order to start an online or virtual company. The platform’s virtual lands can be used to build various structures that can be monetized or sold for profit. The ERC-721 token LAND represents the land and is a non-fungible asset on the platform. There are 90,000 pieces of LAND, each measuring 33 by 33 feet. A LAND height, on the other hand, has no ceiling, so an owner could potentially keep building higher.
A set of LAND forms a district, which is a community of buildings with a common theme, much like in real cities. The native cryptocurrency, MANA, is an ERC-20 token that gives users the ability to vote on issues affecting their districts. It can also be used to purchase LAND as well as other virtual resources and properties on the platform. Its present value is $0.9858.
LAND in Decentraland can be used for something. Rarible, SuperRare, MakerDAO, and other blockchain companies have used their LAND parcels as virtual offices and galleries. Some people use it for virtual meetings and live events.
Another gaming network based on blockchain technology. Enjin is basically a storage and management platform for virtual assets used in games. Enjin can thus store, handle, and sell anything from tokens representing unique in-game objects like accessories or guns to in-game currencies.
It is based on the Ethereum blockchain and uses the ENJ cryptocurrency as its native currency. Users may build digital assets to incorporate into apps and games as required, with the assets being customizable to function on the platform in question. The assets are valued in ENJ, which is currently trading at $2.39 per share. Enjin’s value comes from its ability to mint digital assets for a variety of gaming environments. Already, the platform has partnered with major corporations such as Microsoft, which acknowledges the platform’s immense potential and importance to its ecosystem.
This platform is a digital art marketplace where street artworks are sold as NFTs. For every painted street artwork, a corresponding digital artwork is created and minted, and an NFT containing the physical coordinates is added. Anyone who purchases digital artwork on the platform will also be the owner of the street art. The digital artwork turns into a ghost version when the street artwork is repainted or destroyed.
This platform’s goal is to have KIWIE “fat monster” street artwork in 195 countries.
Unicly is a non-fungible token that is worth considering in addition to all of these. Despite the fact that it has yet to launch, the promise that this platform holds for the NFTs industry as a whole ensures its future success. Unicly’s main selling point is its ability to fractionalize NFTs. NFTs are commonly thought to be one-of-a-kind tokens that contain one-of-a-kind digital properties. Although this has been their main selling point, it has also proven to be difficult, particularly when selling expensive NFTs. Users would be able to own a fraction of an NFT via Unicly, allowing for greater liquidity. The platform will include uTokens, which will enable holders of these NFTs to vote on whether to sell or hold.
Terra Virtua can appear to be similar to Decentraland at first glance. Terra Virtua, on the other hand, does not have the same experience; Terra Virtua is an Augmented Virtual Reality platform that allows users to sell, collect, and create NFTs.
Terra Virtua will allow users to buy or build NFT environments such as race tracks and virtual lounges, and then populate them with collectible NFTs that can be won, purchased, or built.
Terra Virtua, which sells collectibles from movies like Pacific Rim and Lost in Space, is designed for collectors to show off and explore their collections in a secure environment protected by Blockchain’s decentralized framework.
The Hoard platform has announced the launch of an NFT marketplace where users can lend, rent, and exchange NFTS. Lenders may use NFTs as collateral to grant stablecoin loans with premia.
Staking on Hoard’s HRD coin is also supported by being liquidity providers on decentralized exchanges like Uniswap, in return for UNIv2 coins, percentages on the trading pair, and bonuses on the Hoard marketplace.
In addition, Hoard wants to link its NFT marketplace with software development. This one-of-a-kind value proposition will be realized through infrastructure that connects in-game objects to the Ethereum blockchain.
The Hoard SDK is the software development kit for Hoard’s operation. It will be an easy-to-use Open-Source platform for integrating any game with its blockchain.
The development kit, which is known for its ease of use and thorough documentation, will enable game developers to continue working with NFTs without being bogged down in the world of blockchain coding. Players’ in-game properties, such as virtual real estate or collectibles, can now be easily tokenized, allowing them to exchange items more easily.
To Sum It All Up
Experts and observers predict that 2021 will be the year of NFTs. So far, developments in this space suggest that this is the case. From the millions of NFT artworks already sold to the production of many channels, it is obvious that it is here to stay. The most expensive piece was a $69 million art piece by Beeple. Since it is all in its early stages, there are a lot of things to keep an eye on.
‘It’s Time’: NBA Top Shot Maker Dapper Labs to Launch NFT Platform for UFC
Following the UFC 270 pay-per-view event, NFTs from the Ultimate Fighting Championship will debut on Flow this weekend.
Dapper Labs announced today that it would launch an NFT platform for the popular mixed martial arts organization Ultimate Fighting Championship later this week, following its success with NBA Top Shot and subsequent arrangements with the NFL and LaLiga.
UFC Strike will premiere on Sunday, January 23, immediately following the UFC 270 live pay-per-view event on Saturday. UFC Strike’s digital collectibles, like Top Shot’s, will be based on video footage from previous events and will be minted on Dapper’s Flow blockchain. However, unlike Top Shot, the UFC collectible moments will include the original soundtrack to match the video clip.
Furthermore, rather than having different tier levels, all packs—which contain a random selection of moments—will be sold at the same price (as with NBA Top Shot). NFT moments from fighters like Francis Ngannou, Amanda Nunes, Kamaru Usman, Rose Namajunas, Derrick Lewis, and Justin Gaethje will be featured in the first pack.
Dapper’s contract with the UFC was signed before NBA Top Shot was out, which is interesting. According to statistics from DappRadar, the partnership was announced in February 2020, when the NFT sector was still small and niche—well before it grew to $23 billion in trading volume in 2021.
Dapper Labs’ head of partnerships, Caty Tedman, said that the company wanted to debut NBA Top Shot first and learn from the experience—which includes serious scaling issues early last year—before launching the UFC memorabilia.
She stated, “We’ve come to the stage where we feel ready to [launch].” “We’re ecstatic to provide UFC fans with a once-in-a-lifetime experience, as well as the utility that comes with this type of product. We’re finally ready to launch this as the industry, and we grow together.”
Tedman stated that the UFC Strike platform would be heavily promoted during this weekend’s pay-per-view event, including appearances by UFC President Dana White and fighters.
Because the UFC’s timetable is mainly based on pay-per-view fights every few weeks, UFC Strike will plan its releases to coincide with those significant events. As a result, the portal will first focus on fights from the previous year but ultimately include highlights from older UFC fights. The first fight in the promotion took place in 1993.
Despite the roughly two-year gap between the original announcement and this week’s launch, Tedman said the UFC—which already has a crypto fan token through the Socios.com platform—was keen to make a big statement in the NFT industry.
“Every company has its personality, and the UFC’s approach is to test with us and try new things with us,” she explained. “It’s fantastic to have a partner that doesn’t say, ‘Well, let’s try it little and see how it goes,’ when you’re talking about how to launch a product. It’s like, ‘Let’s make it as huge as we can.’ ‘Let’s do it in a UFC-style fight.'”
Unlike Top Shot and the impending NFL All Day platform, UFC Strike will be released without a closed beta period to the general public. According to Tedman, Dapper is investigating live activations at future UFC events, as it has done with the NBA, and added value for UFC NFTs, such as potential community or gaming features.
Top Shot in 2022
The UFC announcement comes on the heels of NBA Top Shot’s first major commercial campaign, including Kevin Durant, the Brooklyn Nets player and two-time NBA champion debuting yesterday.
In October, Durant and his Boardroom media group signed a deal with Dapper Labs to give him “a starring position across NBA Top Shot,” according to the company. According to Tedman, Durant, an early investor in Coinbase who has invested in other crypto firms, is familiar with the Top Shot concept.
“He’s a world-class athlete. He’s a top-tier human. He’s a tech entrepreneur,” she explained. “It’s been a long time since he’s been with us. He’s been interested in the crypto world for quite some time. Therefore, he ticks all the boxes. But isn’t he also swaggering? There’s nothing about him that wouldn’t make him a fantastic candidate for this type of campaign.”
ACCORDING TO TEDMAN, the NBA Top Shot team is “very focused on raising participation in the product and increasing accessibility” for 2022. Following the early 2021 boom in demand and Dapper’s time spent improving platform reliability and customer service, the business feels Top Shot still has substantial growth potential ahead of it.
“This sector is still in its infancy,” she explained. “There’s no such thing as ‘tried and true,'” says the author. “We’re going to attempt a lot of things, but we’re going to do a lot of things to make sure that current collectors feel valued—so they don’t feel like we’re creating an experience where they don’t feel valued.”
And NFL All Day, which Dapper promised would debut by the end of the current NFL season, is still on track to do so—for reference, Super Bowl LVI is on February 13. The NFT platform is now in closed beta testing, and given the recent nature of Dapper’s NFL partnership, Tedman said they’re concentrating on polishing it before going public.
“We’re much newer to the NFL,” she added, “in the same way that every organization has a different personality and every partnership has a different pace. So as a result, we’re taking our time with it.”
Meta’s Instagram Experimentation With NFT Marketplace
Meta, formerly Facebook, is said to be working on a feature that will allow users to display their NFT collections on Instagram.
According to the Financial Times, Meta, formerly Facebook, has new intentions to enter the fast-growing non-fungible token (NFT) market.
The Financial Times stated, citing unnamed sources, that the social media company is working on a tool that will allow users to mint and trade NFTs and display their collections on their Meta and Instagram profiles. In April 2012, Meta, formerly Facebook, paid $1 billion for Instagram.
The blockchain network on which these capabilities would be developed is still unknown. However, NFTs are currently available on several blockchains, including Solana, Tezos, Ethereum, Flow, and WAX.
According to two sources, an NFT marketplace similar to OpenSea is also in the works.
OpenSea has been a cornerstone of the burgeoning NFT industry. Despite a more significant market decline, the platform set a new monthly volume high of $3.5 billion two weeks before the end of January. According to a report by analytics firm Chainalysis, the total market for digital collectibles will reach $41 billion in 2021.
The $69 million auctions by digital artist Beeple at Christie’s, monthly million-dollar sales of CryptoPunks, and a slew of celebrities endorsing the craze in one way or another capped off a spectacular year.
This publicity has piqued the curiosity of non-crypto companies as well.
Instagram, Meta and NFTs
In December, Adam Mosseri, the CEO of Instagram, said that the company is “actively studying NFTs and how we can make them more accessible to a wider audience.”
The company organized a session for NFT makers earlier this year to raise awareness about how to use the technology. However, artists said they “need more information on how to [use NFTs], not just from us, but from other creators,” according to Instagram’s VP of global partnerships, Charles Porch.
NFTs are also expected to play a significant role in the metaverse, a persistent digital world where individuals interact through virtual avatars. Therefore, establish non-fungible ownership of objects inside a wholly digital environment.
With its latest push into NFTs, the tech industry is getting a glimpse into how Meta could implement NFTs on its platform. Facebook’s recent rebranding as Meta signaled CEO Mark Zuckerberg’s intent to move “from being Facebook first as a company to being metaverse first.” With its latest push into NFTs, the tech industry is getting a glimpse into how Meta could implement NFTs on its platform.
Tom Brady’s Autograph NFC Platform Raises $170 Million in Funding
Autograph raises significant cash and extends its advisory board with the help of celebrities like Brady, The Weeknd, and Simone Biles.
Autograph, the NFT platform co-founded by NFL quarterback Tom Brady in 2021, has made a significant splash by enlisting the help of sportsmen and entertainers like Tiger Woods, The Weeknd, and Simone Biles. Now, the firm has also raised a substantial sum of money.
Today, Andreessen Horowitz’s a16z fund and Kleiner Perkins led a $170 million Series B fundraising round for Autograph. Lightspeed Venture Partners, 01A, and Katie Haun’s new venture capital business are among the investors in the round.
Together with a16z General Partners Chris Dixon and Arianna Simpson, and Kleiner Perkins’ Ilya Fushman, Haun will join Autograph’s board of advisors as part of the fundraising.
Along with the funding announcement, Autograph did not provide a valuation. However, in July 2021, 01A and Velvet Sea Ventures co-led a Series A fundraising round.
The platform was revealed in April 2021, during the first NFT boom, and launched in August in collaboration with DraftKings Marketplace. Autograph has also released NFTs from Tony Hawk, Naomi Osaka, Wayne Gretzky, Derek Jeter, Usain Bolt, Rob Gronkowski, and the aforementioned names.
According to the firm, the cash came from “many recently finalized” collaborations that will be publicized soon. Autograph began with sports but has since broadened its focus, first with Lionsgate’s “Saw” film franchise and later with the addition of musician Abel “The Weeknd” Tesfaye as the platform’s music vertical’s head.
Autograph is “pumped to add some incredibly skilled experts in the Web3 sector to our team,” Brady tweeted today about the financing round. Autograph is “beginning with celebrities, but wants to encourage innovators at every step of growth,” according to a16z’s Dixon.
Images, video files, and interactive video game items can all be represented by an NFT, which works as a blockchain-backed deed of ownership for digital property. According to DappRadar, the market grew to $23 billion in transaction volume in 2021. Autograph issues NFTs using Polygon, a sidechain scaling solution for Ethereum, the primary NFT platform.
With Dapper Labs’ NBA Top Shot bringing NFTs to widespread audiences early last year, sports memorabilia have become a vital component of the NFT industry. Dapper has also formed partnerships with the NFL, UFC, and LaLiga. In addition, in October, Fanatics raised $100 million at a $1.5 billion value for its Candy Digital platform, which holds the official Major League Baseball license.
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Tom Brady’s Autograph NFC Platform Raises $170 Million in Funding
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