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This Berlin Startup Aims to Bring NFTs into the Mainstream for YouTubers

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Who doesn’t love watching viral videos on YouTube or getting a new video update from a favorite YouTuber? Well, soon enough, you will be able to watch and own such content as NFT. A Berlin-based startup Enefty is launching a marketplace for YouTubers, where they can mint videos and engage their fans by offering NFTs as collectibles.

Selling a viral video as an NFT isn’t new. In the past, we’ve seen a few examples of YouTube videos making headlines while being sold as NFTs. The most recent story was the ‘Charlie bit me’ viral video, which sold a few weeks back for $760,999. With 22 million subscribers, YouTuber Logan Paul also got media attention when he made millions earlier this year by selling the highlights of a video, where he unboxed pokemon cards. He sold some of these highlights for as high as $20,000 each.

Enefty co-founders Giorgi Jashiashvili and Mohamed Jamal Eddine see massive potential in offering the videos as NFTs and bringing the latest blockchain technology into the hands of creators. With their previous blockchain & Internet of Things (IoT) background, they decided to join the forces in early 2021 and bring a new concept to the market.

“After observing the market for quite some time and talking directly with creators, it was clear to us that there is a demand from YouTubers to create NFTs, and this can unlock a completely new market,”

said Giorgi.

Starting from July, Enefty will run auctions with selected YouTubers and sell their content as NFTs. Giorgi didn’t disclose the names of those YouTubers. However, he said the videos contain viral content and are well recognizable for lots of people. Soon after the first auctions, the marketplace will open up for a broader range of YouTubers so they can offer their content to fans as well. “Unlike most of the other marketplaces which focus on art and artists, we aim to create a niche product which is designed for YouTubers and excites their fans,” explains Mohamed, who is in charge of the product and technology in the startup. In addition, Enefty plans to enable designated YouTuber features like selling single video highlights or video NFT packs on the marketplace, which should be attractive especially for the collectors and differentiate the marketplace from big players on the market like OpenSea

The co-founders mentioned that NFTs are currently in their infancy, and the market still hasn’t tapped into their full potential yet. However, they predict NFT volumes to grow further in the coming months and are convinced of the critical use case for creators. “NFTs still have more potential to show when it comes to reimbursing the creators for their work. One of the benefits of NFTs is that they allow sellers to collect royalties on every future resale. This benefit solves one of the most painful problems for the creators, and it’s hard to ignore the real benefit of such a use-case,” they added.

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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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NFT marketplace in Solana Magic Eden completes a $130M Series B investment with a $1.6B value

Over 90% of NFT trade volume on Solana is accounted for by Magic Eden.

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On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital valued the firm at $1.6 billion.

The newly-infused capital will be used to expand the company’s primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development. Since its inception in September 2021, the marketplace now receives an average of 22 million unique monthly sessions and sees over 40,000 NFTs traded daily.

Magic Eden’s Launchpad has also onboarded over 250 projects to date. In addition, it offers customization, marketing support, and operational execution to new NFT collections coming onto the primary market. Meanwhile, its secondary market covers over 7,000 listings and sees over 92% of all NFT volume on Solana.

Furthermore, Magic Eden has also launched over 50 games and metaverse projects. In that segment, the firm oversees 90% of all gaming NFTs on Solana traded on its marketplace. Regarding the development, Zhuoxun Yin, chief operating office and co-founder of Magic Eden, commented:

“We’re thrilled to have the continued support of our investors and community and look forward to delivering on Solana and beyond.”

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