Connect with us


The Time Has Come to Unlock the True Value of NFTs

NFTs – crypto’s popular moment – had a breakout year in 2021. Brands, prominent celebrities, major art institutions, and even the dictionary appeared to be infected with NFT fever.



#nft #nfts

With revenues totaling $10.7 billion in the third quarter, it’s time to look at the broader picture.

Unique on-chain assets are set to rapidly extend beyond profile images of punks and apes, despite the fact that the new asset class has mostly captured the art and collecting market.

Investors are flocking to a new industry characterized by rapidly expanding online communities and a thriving creator economy. On the first day of Coinbase’s NFT platform’s launch, an amazing one million people signed up for the queue.

As more people become acquainted with the technology, we will begin to see more usefulness and real-world integration, enhancing the value of the already enormous NFT market and expanding the paradigm shift from physical to scarce digital products.

Institutional capital is flowing into the space, which should come as no surprise. Despite having a market valuation in the billions and representing one of the most culturally transformational technologies, NFTs are extremely illiquid. However, credit markets are forming, providing a fresh source of yield for a yield-starved economy.

Investors can gain more than just a simple store of value from their NFT assets. NFTs are one-of-a-kind on-chain assets that provide digital scarcity and provenance. As the globe moves on-chain and the metaverse economy becomes more mainstream, solid infrastructure is required to keep up.

For a new asset class with a trillion-dollar total addressable market (TAM), mark-to-market pricing, valuations, and credit markets will be critical moving forward.

Getting stuck on the chain

People are making a lot of money selling these rarities, and the combination of market activity and high-profile sales of what many still consider to be a simple ‘jpeg’ has everyone on the lookout for the next golden ape or extraterrestrial eight-bit avatar. In fact, certain ‘blue chip’ collections, such as Bored Ape Yacht Club and Crypto Punks, are transforming into digital country clubs, with everyone wanting to join.

Some high-profile photo collections and digital art pieces are fetching prices comparable to physical paintings like Picasso, Monet, and Van Gogh. However, despite a thriving market worth billions of dollars, there is no way to access any of that money without selling the asset in question — and therefore forfeiting any benefits that came with holding it.

Pains of maturation

The NFT marketplace as a whole needs to mature in order to fix this problem and take use of the enormous market capitalization behind some projects. Most people, especially those who aren’t familiar with decentralized apps, are still perplexed by the technology behind NFTs and participating with the market. Regardless of technological knowledge, everyone should be able to easily onboard.

Another issue holding back the NFT sector is the lack of a standardized authority on collection rarity rankings. While there are a few places where NFT aficionados can get information, investors and artists alike would benefit from a widely agreed method of valuing these precious digital assets, particularly when it comes to something as important as ranking.

The perceived worth of the item in question may be validated once a standard for appraising the ranking of collections has been established, giving lenders the confidence they need to grant loans based on that value.

Unlocking the liquidity of high-value NFTs also allows holders who have built up a sizable portfolio to use it as collateral for other investment opportunities without having to sell it, just like they could with a tangible collection in the traditional art world.

A future-oriented marketplace

Unlike physical collectibles, some of these digital goods are useful to their owners. Owning a specific NFT could give you access to special events or passive income opportunities like token yields or play-to-earn games.

Plots of land are already being sold for large sums as the metaverse expands, and owning virtual real estate might someday be a lucrative source of revenue through leasing.

We’re just getting started in the NFT space, with only 20% of Americans participating. The market will see a tremendous flood of new investors now that famous companies like Coinbase and FTX are establishing their own NFT platforms. With the financialization of NFTs, this developing market begins to mirror current art markets, which will help attract even more participants.

Integrating some of these protocols into the NFT industry should be the next step, as it will benefit not just creators and holders, but also the marketplaces with which they interact.


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.



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.

Continue Reading


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.



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.

Continue Reading


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.



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.

Continue Reading


Bitcoin (BTC) $ 23,323.25 0.43%
Ethereum (ETH) $ 1,655.18 0.83%
Tether (USDT) $ 1.00 0.02%
Chiliz (CHZ) $ 0.146225 4.03%
Enjin Coin (ENJ) $ 0.474271 2.72%
Decentraland (MANA) $ 0.779614 0.00%
Flow (FLOW) $ 1.15 2.59%
The Sandbox (SAND) $ 0.758987 0.62%
WAX (WAXP) $ 0.075618 1.26%
ECOMI (OMI) $ 0.000919 0.15%