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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.

NFT

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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NFT

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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