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The Biggest NFT Trends for 2021, from Art to Gaming

The year’s main topics are pop culture NFTs, blockchain art games, Metaverse NFTs, charity auctions, and global NFT art.

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#nft #nfthours #2021 #trends

The total value of NFTs sold this year may exceed $18 billion. Collectors, investors, and philanthropists are interested in these minted certificates of ownership for digital goods on blockchains, ranging from artwork, music, and in-game characters to films and images. They’re also freely tradeable on decentralized NFT platforms like OpenSea. So without further ado, let’s look at the most critical trends in the NFTs field.

1. Celebrities and current NFTs

Of course, at number one this year, the entertainment sector had no shortage of NFT drops and partnerships. Mila Kunis’ Stone Cats NFTs sold out in just 35 minutes, causing gas costs on the Ethereum network to skyrocket to process the transactions.

Snoop Dogg, the musician, and songwriter auctioned off a 3D collage of ten different photographs of himself at various times in his professional career in November, with the winning price totaling 188 ETH (about $700,000). NBA player Kevin Durant announced a collaboration between his company Thirty-Five Ventures and Coinbase on NFT drops in mid-December.

Then there was Quentin Tarantino, who announced that seven uncut sequences from Pulp Fiction would be auctioned as NFTs on the privacy-focused Secret Network. On the other hand, Tarantino may have gone a little too far in embracing the frenzy, as his production firm, Miramax, has launched a lawsuit against him for alleged copyright infringement coming from his NFT sale.

The most popular NFTs, according to crypto fans, are those with “pixelated punks” produced by artist Crypto Punks. The group now has the highest sales volume on OpenSea.io, having transacted 750,300 Ether (ETH) worth of digital art (about $3 billion at today’s price) since the platform’s creation in 2017. Their success has led to collaborations and agreements with renowned Hollywood agents.

2. Play-to-earn NFT games

NFTs aren’t just designed to be looked at. For example, Axie Infinity, a blockchain game, has users battle nonplayable characters and completing daily objectives with in-game creatures known as Axies. Each Axie is a one-of-a-kind NFT that can be purchased and sold on the Ethereum network. Breeding is minting Axie NFTs in the game, with rarer Axies having better stats and costing more. According to its official marketplace, the total volume of Axies acquired and traded in the last 30 days is over 125,000 ETH, or over $500 million.

In addition, in the game, players can buy virtual land NFTs. Such digital real estate serves as a breeding ground for monsters and bosses and a repository for a wealth of materials. Last month, the most expensive Axie Infinity land ever sold for 550 ETH ($2.3 million at the time).

Sorare, an NFT fantasy soccer game, is another popular option. Players can control their soccer teams using Sorare’s digital player NFT cards. According to Nicholas Julia, the platform’s CEO, nearly half a million players joined naturally, without any marketing efforts.

3. Metaverse NFTs

Since Facebook relaunched itself as Meta in October, developments in the Metaverse, a digital environment that includes 3D augmented reality, have gained traction. NFTs are important in the Metaverse because they ensure the uniqueness of virtual assets like player avatars. The new platform “will make it easier for people to sell limited education digital artifacts like NFTs, display them in their digital spaces, and even resale them to the next person securely,” according to Meta’s head of Metaverse products, Vishal Shah.

Bloktopia is now constructing a gigantic 21-story tower in the Metaverse to honor the maximum 21 million Bitcoin (BTC) that can ever be created. Consumer brands like as Adidas and Nike have entered the Metaverse as well, collaborating with contributors to create NFT artwork for their own brands. Above all, the creators of the virtual metaverse game Sandbox want to protect the realm from large tech domination.

4. NFT philanthropy

In 2021, the number of nonprofits accepting crypto donations has increased significantly. The Giving Block, a platform that facilitates such transactions, saw donations rise to over $100 million this year, up from $4 million in 2020. The company is collaborating with NFT platforms so that a portion of auction earnings can be directed to crypto non-profits, with direct NFT donations as a future development path. In the United States, investors can deduct charitable contributions from their regular income over a period of time, usually a few years, resulting in a win-win situation for everyone.

However, humanitarian endeavors in the NFT sector go much beyond that. NFT auctions have raised enough money to help build a school in Uganda and support frontline healthcare workers so far. An upcoming NFT auction in 2022 will provide funds for contemporary artists with developmental challenges. Meanwhile, the revenues from another will be donated to the previous Italian royal family’s favorite charity.

5. NFT world art 

Traditional painters must travel throughout the world to participate in exhibits and auctions in order to make their work known – a privilege granted only to those with sufficient financial resources. However, with the rise of decentralized NFTs markets, anyone from anywhere in the globe may mint, promote, and sell their work with little to no start-up money, bridging cultures around the world.

Melanated NFT Gallery and Mongol NFTs are two famous examples. Landscapes, images of jazz legend Miles Davis, DJ music, guitar audio, trading cards, and other sounds are among the works on display at Melanated NFT Gallery. Meanwhile, the Mongol NFTs site features NFT visuals of the namesake country’s pastoral nomadic steppes, as well as its history, traditions, and customs as told by Mongol artists. It already has over 100,000 registered users and sales of 1.5 billion Mongolian Tugrik ($550,000).

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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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The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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