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Unwrapping a digital gift as an NFT? It’s called Blindboxes.

Blindboxes are you offering an experience of unwrapping a gift, just like a kid on Christmas but in a digital form.

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Photo: Google images

NFTs are all the rage in the crypto industry at the moment. They are, however, actually available for purchase on a patchwork of marketplaces that run in their own silos. Furthermore, new talent is finding it increasingly difficult to stand out among a multitude of proven NFT stars.

Blind Boxes gathers digital assets from emerging authors, well-known brands, and well-known NFT creators and presents them in visually appealing Blind Boxes. Collecting packs of playing cards is close to the mystery box system. The overall components of a series are known to buyers. However, they won’t know which NFT they’ll get before they open the package.

It’s an opportunity for digital artists to show off their work to a wider audience, enhancing their credibility and unlocking the potential for future sales. Collectors will have the ability to discover and purchase rare digital artifacts such as tokenized art and real estate, digital sports collectibles, music files, and unique gaming characters, all of which are sourced from artists all over the world.

We’ve all experienced the excitement of unwrapping a present and eagerly awaiting the contents inside. Blind Boxes seeks to introduce collecting nostalgia to the NFT market while also rewarding consumers with potentially valuable assets.

What does the Box contain?

Limited edition NFTs will be available on Blind Boxes’ gamified website. Each virtual unboxing brings back a fond childhood memory: the excitement of unwrapping a present. Blind Boxes does this by infusing the digital world with a feeling more akin to the physical.

Discovering what’s inside a mystery package — be it a toy, treat, or ultra-rare trinket — is unforgettable, whether it’s a Christmas present, football sticker collection, or Pop Mart box. This is the thing that makes memories and ignites life-long obsessions.

Artists can interact directly with their audience and profit from any NFT they make, including resales, with Blind Boxes. Meanwhile, fans can buy digital collectibles to show off, trade, or sell.

Evolved NFTs

Sports, art, music, real estate, gaming — it’s all being tokenized and exchanged, with digital scarcity serving as the arbitrator of value. Genesis NFTs + celebrity stardust  combined with ultra-rare material are the stuff of digital fantasies.

NFTs are currently the most exciting vertical in crypto, but they’re also one of the most challenging. Obtaining NFTs is a difficult process for beginners who want to get their hands on the new must-have crypto collectibles. It necessitates an innate ability to appraise digital art, as well as working in an illiquid market, patiently queuing for limited edition packs, and all too frequently leaving empty-handed. Then there are the skyrocketing prices that the rarest and most exclusive NFTs will demand, effectively reducing them to status symbols for ETH-rich whales.

By lowering the entry barriers and the cost of participation, Blind Boxes allows digital collectibles more available to the general public. While the most valuable NFTs will continue to command a premium, the majority of the work published by creators will be accessible to regular users, who will be able to purchase works by emerging and well-known artists while still supporting their favorite creators.

How Does It Work?

Great art is not cheap. Every piece, whether it’s a physical canvas, a digital render, or an audio track, has sunk costs in terms of time, resources, materials, and publication for the artist. Blind Boxes allows artists to cover these initial expenses by collecting funds prior to beginning the artistic process. This provides them with a solid base of funding and ensures a minimum sales threshold for their work, while also rewarding early backers with a piece of the action.

Collectors can buy and open boxes containing limited edition and rare content, including one-of-a-kind works that are sure to be highly sought after, on the Blind Boxes marketplace. Furthermore, the Blind Boxes platform will allow developers to run tokenized crowdfunding campaigns in exchange for distributing their new content to paying supporters.

The Blind Boxes protocol uses smart contracts to automatically grant income to artists if their work is resold, thus allowing the current owner to keep the majority of the proceeds. This rewards collectors for their loyalty by giving them early access to exclusive material. Furthermore, collectors will benefit from potential sales of work they’ve financed.

Extra Benefits for Creators and Collectors

Unlike conventional markets, which are often opaque, producers of these rare NFTs may also receive a stream of future passive income through smart contract-powered royalties when their work is resold in the secondary market.

Furthermore, the Blind Boxes Fund provides grants to promising creators in order to foster creativity in the diverse and rapidly changing NFT space. The fund would encourage emerging talent to concentrate on their craft by eliminating the financial obstacles that are often associated with “starving artists.”

Blind Boxes will have lower price thresholds and will provide a payment portal to support mainstream NFT adoption while also giving crypto newbies a head start on their digital collectible journey.

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The NFT Sale of the ‘Kia Sedona’ Goes Sour as the Contractor Allegedly Steals $3 Million

A sale of tokens that could be swapped for “Kia Sedona” NFTs raised $3.1 million. But a contractor for the token sale platform Miso allegedly disappeared with all of the funds.

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In the fast-growing market for NFTs, there have been several swindles, frauds, and rug pulls. However, this one strikes out as a little odd.

To begin with, the NFT sale itself was unusual. The entire concept was inspired by a recent meme on crypto Twitter about the Kia Sedona automobile brand (the joke being that the Kia Sedona is a type of hard money). As a result, ten unknown persons built a funky website called “Jay Pegs Auto Mart.” (It was unrelated to the automobile maker in any way.)

DONA reservation tokens were available for purchase. These could be acquired on SushiSwap’s Miso token sale platform, which is run by a decentralized exchange. Out of 10,000 DONA tokens available, each could be exchanged for one 2007 Kia Sedona NFT.

And the token sale went off without a hitch. It raised $3.1 million in ether (ETH), worth 864.8. When the mysterious team of shadowy super coders (another joke) decided to use Miso, they didn’t expect all of their finances to be taken away.

An unidentified contractor placed malicious code into the Miso platform, according to SushiSwap CTO Joseph Delong, changing the destination address for all incoming monies in the token sale to their address. According to Delong, the Jay Pegs Auto Mart sale was the only one affected, and all of the cash raised was stolen.

SushiSwap has urged Binance and FTX to identify the hacker by revealing their KYC information, but they have not done so, according to Delong. He added the platform had directed Stephen Palley, a partner at law firm Anderson Kill, to file a complaint with the FBI if the funds aren’t recovered by 8 a.m. ET.

On the good side, the Jay Pegs Auto Mart Twitter account promised consumers that the Kia Sedona NFTs would still be distributed despite the lack of funds.

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SLAM, a Basketball Brand, Joins the NFT Platform Autograph

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Autograph has taken over the world of sports NFTs. Autograph, co-founded by future Hall of Fame quarterback Tom Brady, has signed deals with renowned athletes from various sports. In addition, the platform is teaming up with SLAM this week on the hardwood.

SLAM has streamlined its company into a new digital era and is known for its classic vintage magazine covers dating to 1994. Basketball enthusiasts may get news, unique features, digital material, and apparel through the portal. Without dipping into NFTs, it wouldn’t be complete.

Autograph and Its High-End Partners

Autograph has signed deals with Naomi Osaka, Derek Jeter, Simone Biles, and Tony Hawk in a short period. Top-tier athletes from many sports verticals make up the increasing advisory board. Additionally, autograph just partnered with DraftKings to give the sports betting platform access to NFTs.

According to a press statement issued this week, autograph will be a launch partner for SLAM’s NFT collection of classic magazine covers. Additionally, this will be Autograph’s first foray into basketball, with SLAM serving as a cornerstone for the platform’s introduction into the sport.

SLAM archives of the 300-plus covers that graced the front of SLAM for decades will be featured at NFTs. In addition, the NFTs will be available for purchase on the DraftKings Marketplace, which Autograph powers.

Blockchain Technology Meets Sports Media

Sports and technology are becoming increasingly entwined.

“We’ve been building a portfolio of companies focused on the convergence of sports media and blockchain technology, and this deal sits firmly at that crossroads,” said Matt Aronson, President of SLAM parent company JDS Sports. SLAM’s digital presence has grown to include over twenty social media channels with over 16 million followers. JDS Sports was also an early supporter of Autograph.

Through established partners, Autograph continues to push the fold on sports NFTs. The two have already issued NFTs for Tiger Woods, Wayne Gretzky, Simone Biles, and others through DraftKings Marketplace. Autograph, on the other hand, isn’t content to stop at sports. The platform also announced a relationship with Lionsgate in July. In addition, Autograph will develop digital collectibles for the new flagship movie series later this year due to the agreement.

It appears that SLAM isn’t starting or stopping here, either. In April, SLAM teamed up with rising basketball phenom Zion Williamson. This collaboration resulted in four limited-edition NFTs based on two of Zion’s SLAM cover appearances.

As brands, companies, teams, leagues, and individuals from practically every sport imaginable get involved, the convergence of sports and crypto continues to increase.

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Following Allegations of NFT Insider Trading, OpenSea’s Head of Product has Resigned

After being accused of NFT flipping using insider knowledge, Nate Chastain, Head of Product at prominent NFT marketplace OpenSea, appears to have left the company.

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The Product Manager has resigned

Chastain’s Twitter profile has been altered to add the term “Past: @opensea” since he was called out two days ago, implying that the marketplace no longer employs him.

Though there isn’t proof that he was fired from OpenSea because of the allegations, it’s a strong possibility.

OpenSea CEO Devin Finzer has already updated his previous blog post about the event with the news that one of their employees “asked and accepted” his resignation just yesterday for violating their “duty to the community.”

According to the CEO’s update, OpenSea promptly commissioned a third-party investigation after learning of the event and is aggressively adopting its recommendations while the inquiry is ongoing.

Despite growing evidence against him, Nate Chastain has yet to issue a public statement. Meanwhile, the general belief on Twitter seems to be that he is guilty, with some even ‘celebrating his death’ with a fresh CryptoPhunk giveaway. However, despite Chastain’s misconduct, others express gratitude for his work for the NFT community and wish him the best in the future.

The Allegations and the Proof

Nate Chastain was accused of buying OpenSea NFTs with insider information before they were released on the platform’s site, then selling them for a much higher profit.

Chastain purchased the NFTs using burner accounts to conceal his identity; nevertheless, he was detected utilizing blockchain data, which proved that all of his winnings were being transmitted to his public address. Later, OpenSea published a blog post indicating that this “insider trade” had occurred.

Chastain made a profit of 19 ETH, which is worth more than $65k at press time.

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