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NFT and Meme Stocks’ Popularity Attracts Multi-Million Dollar Investments

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The overall spending on NFTs in the first quarter of 2021 was more than $2 billion. While the figure may appear insignificant in comparison to the total crypto market, it represents a 2,100 percent increase over the figures recorded in Q4 2020. “I’ve decided to stop ignoring and dismissing meme investing and start attempting to understand it better,” says seasoned investor Fred Wilson.

NFTs and Meme Coins are Gaining Popularity

While the number of meme currencies is increasing, they are also getting more mainstream. Christie’s, which was founded in 1766 in the United Kingdom, is one of the world’s oldest and most prestigious art auction houses. Everyday: The First 5,000 Days, a fully digital artwork by Beeple, also known as Mike Winkelmann, sold for more than $69 million at Christie’s. “Christie’s has never offered a new media artwork of this scope and importance before,” says Noah Davis, a specialist in postwar and contemporary art. The auction marked the beginning of a new era in the field of tokenized digital or online art.

Gamestop’s stock price jumped from $4 to $220 in February. WallStreetBets, a Reddit group, pushed users to acquire GameStop stock in order to counter hedge funds who were shorting or betting against the stock. In the same vein, SatoshiStreetBets decided to artificially inflate the price of several cryptocurrencies. These concentrated efforts benefited DogeCoin, which is named after the Shiba Inu “Doge” meme. Doge, according to one poster, is the Crypto GME. In a single day, Doge’s market capitalization increased by more than $7 billion. Gamestop is preparing to launch its own NFT platform, inspired by the spirit of the crypto market, which looked to Gamestop as an example to follow.

Some of the biggest names in the crypto realm are also interested in capitalizing on the rise of NFTs and meme stocks. Binance, the world’s largest cryptocurrency exchange, recently opened its NFT marketplace. The auctions for Andy Warhol’s Three Self Portraits and a digital NFT of Dali’s “Divine Comedy: rebeget” kicked off the auction house’s existence. The Bitcoin symbol, Binance CEO’s signature, and the Binance logo were all added to Dali’s artwork. These inclusions could only be seen by zooming in.

While the crypto community is enthralled with NFTs and meme coins/stocks, the euphoria is expanding to groups that have previously opposed or questioned crypto. It is the public sector.

The United States Space Force (USSF) was established as a branch of the armed services under Donald Trump’s administration. The USSF planned to issue a series of NFTs in the middle of June. The campaign was run in collaboration with the community-oriented NFT platform Ethernity chain. Digital versions of patches and coins were released to coincide with the debut of the company’s fifth vehicle in the GPS block III.

Memes/NFTs are Attracting a Lot of Investment

Investment inflow occurs as a result of growth and development into new territory. Meme.com, for example, has raised $5 million and is known as the CoinMarketCap for Memetic Coins. Meme.com prides itself on being the go-to source for great memes and trends. It allows users to assess the worth of memes, a concept that has piqued their interest.

But how does this one-of-a-kind concept operate in practice? To take advantage of everything meme.com has to offer, all you have to do is go online and look for memes that you believe are noteworthy. Following that, you must present your findings to the meme council for approval. Each month, you can receive incentives for contributing the finest findings. Overall, it aspires to create a long-term crypto-economy for memes that rewards both authors and collectors.

By sponsoring your favorite memes with the meme coin, you can help them grow. Marble Cards uses Memecoin as its official token. You can use Memecoin to generate an NFT with a central image made out of URL links from all across the internet.

With a developing industry, the uniqueness of meme.com’s innovation was enough to garner $5 million in funding from a collection of blockchain-focused venture capital funds and angel investors.

Many reputable investment firms have stepped forward to support meme.com, particularly those working with innovative and high-growth crypto projects. Outlier Ventures, Digital Finance Group (DFG), Morningstar, Blockhype, and Spark Digital Capital are a few of these companies. Even Gabby Dizon, CEO of mobile company Altitude Games, and Sandeep Nailwal, co-founder of Polygon, have invested in the platform. Meme stocks and NFTs are here to stay, as seen by the attention of such a seasoned crypto community.

When Joanna Liang, DFG’s head of investment, remarked that her firm believed in the potential of “meme markets, such as Meme.com,” she validated the growth predictions. ” They’re a “promising and novel method to empower users who discover or generate trends,” according to the researchers. Joanna went on to say.

Mattias Tyrberg, the founder of Meme.com, explained the platform’s aim by saying that “humor and memes have the capacity to link individuals and create unique shared experiences, unified by a common culture.” Other meme coins, such as DOGE and SHIB, will be hosted on Meme.com.

NFT

At a London event, an NFT vending machine will increase accessibility to digital art

The NFT vending machine at this year’s NFT.London event will give its profits to a good cause.

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The first-ever physical nonfungible token (NFT) vending machine will be on display at this year’s NFT.London conference, which is set for November 2-4.

The NFT platform aims to give anyone who wish to start buying and trading digital assets a simple and accessible way to do so without requiring them to have a thorough understanding of the Web3 sector. Users won’t need to have a digital wallet to buy an NFT from the vending machine.

Users must choose one of the shown envelopes before entering the code to acquire an NFT from the myNFT vending machine. After making their purchase, users can scan the QR code on the envelope to access an invitation to create a myNFT account, which includes an NFT wallet where they can store their NFT.

“The most convenient method to buy anything is through a vending machine, so we’re shattering the impression that buying an NFT is difficult with this campaign,” said Hugo Mcdonaugh, CEO of myNFT.

The first collection of contributed NFTs from myNFT, which includes names like Dr. Who Worlds Apart, Thunderbirds, and Delft Blue Night Watch, will be available for purchase by interested participants.

The actual NFT vending machine will be situated outside the Queen Elizabeth II Centre, Westminster, London, which is where the NFT.London conference will take place.

The revenue from the NFT vending machine will go to two charities: Roald Dahl’s Marvellous Children’s Charity, which provides specialized nurses to seriously ill children, and Giveth, a blockchain-based philanthropic community that supports public goods, services, and education in developing countries.

The Solana, California-based NFT marketplace Neon introduced a 24-hour NFT vending machine in the financial sector of New York City in February, according to Cointelegraph. This machine took credit and debit card payments. However, people complained that neither the NFT vending machine nor the NFT performed as promised after a week had passed after its introduction.

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Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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