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HODL Assets, an NFT Innovator, has Acquired CoinLinked, a Blockchain Social Commerce Company

HODL Assets plans to expand its footprint in the nonfungible token industry and relocate its headquarters from Durban, South Africa, to the United States.

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The blockchain-based social network and commerce platform CoinLinked has been acquired by HODL Assets, a nonfungible token (NFT) aggregator platform.

ACCORDING TO A PRESS STATEMENT ISSUED ON WEDNESDAY, Jenny Q. Ta, a Wall Street veteran and the founder of CoinLinked, will also join the HODL Assets team as a chief operational officer.

HODL Assets’ acquisition of CoinLinked is part of a larger strategy to expand its footprint in the nonfungible token ecosystem, which began with introducing its HODL platform, a nonfungible token marketplace.

The booming NFT industry will apparently benefit from HODL Asset’s new NFT platform, which will purportedly include gaming and social networking capabilities. Ta previously told Cointelegraph that the blockchain social network platform CoinLinked was an “amalgamation of Twitter, Instagram, and Amazon” and that the acquisition is likely related to these goals.

In the same manner that e-commerce and social media have dominated the present internet architecture, Ta believes that NFTs might be the “killer app” for Web 3.0, stating:

“NFTs are unquestionably the next step in the internet’s disintermediation, as the moment has come for individuals to demand ownership of their assets, and rightly so. The internet is about getting mass attention and rapid change, as well as information flow, but NFTs are about gaining individual attention and are a static picture of time.”

As a result, the HODL platform is trying to incorporate CoinLinked’s procedures to provide functionalities unavailable on other NFT platforms. In addition, the business expressed its intention to make NFTs more mainstream as part of the announcement.

Ta mentioned social media and gaming as intermediate steps on the way to make nonfungible tokens more accessible in his detailed roadmap for broad-based nonfungible token adoption.

NFT gaming, particularly the play-to-earn form, has grown in popularity around the world.

The merging of NFTs and social media on the blockchain, according to CoinLinked creator and new HODL Assets chief operating officer, will produce a platform that will change the dynamics of digital content ownership.

Following the acquisition of CoinLinked, HODL Assets intends to migrate from South Africa to the United States.

NFT

OpenSea and Kakao’s Klaytn collaborate to expand NFT across Asia

Klaytn, a Singapore-based public blockchain platform, and OpenSea, a non-fungible token (NFT) market, established a cooperation on Friday to support the Asian NFT ecosystem.

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  • In order to showcase Asian NFT initiatives to a worldwide audience, the alliance involves conference collaborations and ecosystem awards.
  • The largest NFT marketplace in the world supports four blockchains: Klaytn, Polygon, Solana, and Ethereum.
  • The blockchain subsidiary of South Korean internet behemoth Kakao, Ground X, founded the Klaytn Foundation.
  • On its central bank digital currency (CBDC) pilot project, the Bank of Korea collaborates with Ground X.

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Projects

Shopify Expands Online Retailers’ NFT-Gated Options

Brands are able to increase the exclusivity of their shops thanks to the e-commerce platform.

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The future of e-commerce, according to Shopify, is in NFTs.

As a new option for brands wishing to make their stores more exclusive, the online retail behemoth, which enables small businesses to construct customized e-commerce shops, is providing NFT-gated storefronts, Shopify announced on Wednesday.

In the Shopify introduction video, which includes a skating woman who passes through a pastel portal and transforms into a Doodles NFT, a voiceover urges viewers to “invite their communities into a world that acknowledges and rewards devotion.”

The video explains that token holders can access special shopping opportunities by connecting a cryptocurrency wallet, including early access to drops and limited collections as well as one-of-a-kind experiences and other surprises.

Only individuals with existing NFT collections are able to apply for early access to Shopify’s “gm” shop, which is a gated merchandise store and a play on the Crypto Twitter acronym for “good morning.”

However, those that haven’t received approval yet can still integrate NFT token-gating apps like Shopthru or Single into their Shopify sites.

Shopify announced that it has already collaborated with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to develop token-gated shops as part of its token-gated business launch.

Shopify is introducing “IRL” token-gating in brick-and-mortar stores in addition to online token-gating, which restricts access to certain merchandise to authorized NFT holders exclusively.

Why is this important? The future of Web3 commerce will focus on exclusivity, for one thing. NFTs, which are distinctive blockchain tokens that denote ownership over an asset, are increasingly employed as membership cards, tickets to events, and “keys” to open benefits, despite the fact that they are frequently oversimplified as digital art or “jpgs.”

Additionally, this isn’t Shopify’s first venture into NFTs: The business has been involved with Web3 since last year, when it announced the launch of NFT sales on its platform. Brands can mine and sell NFTs on Shopify to clients using the Ethereum, Polygon, Solana, or Flow platforms.

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OpenSea, beware—Uniswap is pushing into NFTs

The NFT aggregation platform Genie is being purchased by Uniswap Labs, the organization that created the Ethereum-based decentralized exchange Uniswap.

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In a Bankless interview on Tuesday, Uniswap founder and CEO Hayden Adams said, “We’re attempting to transfer what we brought to the ERC-20 market to the NFT sector.”

You can buy NFTs—individual blockchain tokens that represent ownership—on a variety of different marketplaces, such as OpenSea, LooksRare, or Coinbase NFT. However, few allow consumers to buy many things at once, and none provide aggregation tools that let traders view listings on competing marketplaces.

According to Uniswap Labs on Twitter, “We see NFTs as another form of value in the burgeoning digital economy, and it’s a no-brainer for us to integrate them.”

The NFT aggregator Gem, which also enables customers to acquire numerous NFTs in a single transaction, was purchased by OpenSea just two months prior to the announcement of its acquisition by Genie. OpenSea intends to incorporate NFT aggregation functions into its primary platform, just like Uniswap.

A new tab dedicated to NFTs will be added to Uniswap’s main website later this year as part of the company’s push into NFTs, according to a statement from the company. Additionally, NFTs will be included in its developers’ APIs and widgets.

Uniswap Labs intends to airdrop an unspecified quantity of the stablecoin USDC to Genie’s early backers as a way to commemorate its acquisition. By April 15th, USDC will be given to everybody who had utilized the platform at least once or owned a Genie Genesis NFT. (The business had earlier tweeted that Genie Gem owners were eligible for the airdrop.)

Uniswap entered the NFT market for the first time in 2019 with Unisocks, an NFT that granted holders access to a real pair of socks.

The largest NFT market, OpenSea, has a floor price for Unisocks of 13 ETH (about $15,300) at the time of writing.

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