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ART & COLLECTABLES

What Do Celebrity NFTs Actually Achieve?

NFTs are becoming increasingly popular among celebrities, who are buying and manufacturing them. However, where can you get a celebrity NFT? And what exactly does it accomplish?

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Among the selfies and holiday photographs on your morning social media scroll, you may have noticed messages from celebs advocating NFTs.

NFTs are blockchain assets that are one-of-a-kind due to identifying information stored in smart contracts. NFTs can be used to tokenize anything from music and images to movies and artwork.

The majority of the controversy surrounding NFTs occurs on Twitter, because the platform allows NFTs to be used as profile images in hexagonal frames rather than the standard circle frames that everyone else must use. Celebrities such as Paris Hilton, Justin Bieber, and Gwyneth Paltrow have jumped on board as the buzz develops. If you own a Bored Ape Yacht Club NFT, you already know that you have access to private communities and digital rooms where your favorite star hangs out and interacts with fans.

But it’s not just about grabbing the newest ape from the Bored Ape Yacht Club or the newest XCOPY artwork. Celebrities are now designing their own NFT pieces; for example, Snoop Dogg’s line is available on OpenSea, while Paris Hilton collaborated with Superplastic to curate the “Past Lives, New Beginnings” collection.

Grimes, a Canadian singer who was one of the first to cash in on the NFT game, has sold $6 million worth of digital artworks. Grimes became one of the best-selling NFT creators in the world thanks to her WarNymph collection of ten artworks, which successfully created enough excitement and demand for her work.

Even Eminem got in on the game, releasing his “SHADYCON” collection on Nifty Gateway and generating $1.8 million through the sale of digital action figures and musical tracks.

The issue here, of course, is that not everyone can own a work of art created by their favorite celebrity. They miss out on the chance to interact with celebrities when they miss out on impending celebrity NFT releases. This provides an untapped opportunity in the market, and one firm has discovered out how to take advantage of it while allowing fans to get closer to their heroes.

There is a need to establish a platform for singers, actors, and sports figures to develop and host their collections for a wider audience now that so many celebrities are becoming advocates for cryptocurrencies and NFTs. Making it easy for them to participate in the blockchain revolution may even persuade long-time followers of these musicians to invest in bitcoin and NFTs.

nOFTEN, a brand-new NFT marketplace that brings the premium gallery experience to the internet world, will host this platform for celebrities. This digital gallery, on the other hand, will solely contain celebrity-curated collections for fans to trade, share, buy, sell, and experience previously unseen moments.

The platform connects artists with their fans by providing an easy way for them to engage with loyal fans and share exclusive content in the form of NFTs. Among the prizes offered would be a personalized film, a new song, a chance to dine with a celebrity, and a video call.

The blockchain network Etherlite would support all of the above, and combining them with the website would tie the project together and enable both communities – artists and fans – to join and communicate with one another.

People are migrating to the metaverse for everything from work and school to grocery shopping and sports, which is closing the digital divide. nOFTEN bridges the gap even further by bringing together artists and their loving fans, allowing them to learn, wonder at the art, and grow.

ART & COLLECTABLES

NFT Show Europe was all about innovators of the Future of the Internet: web 3.0, metaverse, blockchain, and digital art

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Valencia, October 10th 2022: NFT Show Europe, the leading event on Web 3.0, Blockchain, Metaverse and Digital Art took place in the futuristic venue of the City of Arts and Sciences in Valencia, Spain. From the 17th to the 18th of September 2022, #NFTSE attracted over 2300 visitors from 59 countries.

The show featured a packed conference programme with world-renowned speakers. Topics covered included the use of Blockchain and Web 3.0 oriented technologies in traditional businesses, gaming, sports, fashion, art and collectibles, among others.

First edition beyond expectations

“The event showcased the very best in European talent, demonstrating the unstoppable growth of these technologies and its potential in both business and artistic innovation.” explains Patrick Cyrus, Marketing Manager of #NFTSE22.

“We already count with the support of big players such as Tezos, Polkadot, Zeroframe, Crypto Page, Block Ape Scissors or Wert. All of us were equally impressed with the level of potential collaborations and we are already looking forward to the next edition.”

NFT Show beyond Europe

#NFTSE gathers some of the most influential companies and artists to discuss the latest trends and developments. The event was a major boost for the web 3.0 industry companies, fostering new partnerships and collaborations, which helped to solidify its position as a major meeting point in this world.

With visitors from 59 countries attending, the event showcased the latest in blockchain and web3 technologies and its potential applications in the real world.

The speaker line-up was formed by industry leaders such as Takayaki Suzuki, CEO of Metatokio and Esen Tümer, Founder of Metaverse Hub. Other notable speakers included Hide Uehara, Director of Business Development for Square Enix or Sam Hamilton, the Creative Director of Decentraland Foundation.

Showcasing more than 170 artworks by artists such as Zancan, Solimán López, Pablo Alpe, Ulysses, A.L. Crego or Jenni Pasanen, the art exhibition included exclusive minting by fxhash.com, workshops, interactive installations, panel discussions and XR experiences.

Conclusions & Trends

“Web 3.0 technologies provide a way for users to create and interact with digital assets in a virtual space. These technologies have the potential to revolutionize many industries, including gaming, art and finance. NFT Show Europe provided a platform for leading experts to share their insights on those industries in a futuristic business-art atmosphere.” adds Esen Tümer, Founder of MetaverseHub based in Turkey, Istambul.

NFTs and crypto are transforming the art industry by providing creators with a new way to monetize their work and by giving collectors a new way to invest in art. They can be used to track and prove ownership of everything from digital art to in-game items. One of the barriers is the acquisition of cryptocurrencies which is already approached by companies such as Wert.

“We enable the consumers to purchase NFTs with credit or debit cards just like normal or virtual goods … if you’re in the NFT, Generative Art and Web 3.0 space (NFTSE) is just the perfect spot to do that.” explains George Basiladze, Founder of Wert.io.

There is no doubt that the web 3.0 users have the potential to change the way we live, work and play. By harnessing the power of the internet, these technologies can help us to connect with others in new and innovative ways and help us to access information and services that were previously out of reach. With the right support and investment, web 3.0 content will help us to create a more inclusive and connected world.

The producers of NFT Show Europe are already planning the next stages for 2023.

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ART & COLLECTABLES

Logan Paul’s unsuccessful NFT Investment: Over $620K to $10

Logan Paul, a well-known YouTuber, has lost millions of dollars as a result of the current crypto winter.

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Logan Paul, an American YouTuber, actor, and social media star, holds a $623,000 unrealized loss as a result of his investment in an NFT from the Azuki line.

Also unsuccessful is his involvement with cryptocurrency. The market collapse has reduced the value of his possessions by more than $500,000.

Losses in Logan Paul’s Critical Papers
The well-known YouTuber joined the cryptocurrency bandwagon last spring when the values of most assets were surging, just like many other people. A few months later, he spent almost $2.5 million on NFTs, joining the trend. The most expensive thing he bought was a piece from the Azuki collection, which cost him $623,000.

However, the YouTube celebrity has suffered significant financial losses as a result of the unstable state of the bitcoin market and the NFT niche, at least on paper. The Azuki NFT currently trades around $10, as Paul recently made known, a drastic decline that sparked debate in the cryptocurrency world.

Many Twitter users made fun of the celebrity for using non-fungible tokens to transact at a time when there was obviously excitement in the industry. Others asserted that digital collectibles are frauds and should not be purchased. Some, however, contend that the price decline is a result of the current bad market and that once the next bull run begins, the valuation will rise.

It’s important to note that the NFT transactions were booming at the time he purchased the things. OpenSea’s trade volume spiked to almost $500 million for a single day at one time last summer, but in recent months, it has struggled to reach $10 million.

Paul has added bitcoin and other alternative currency to his portfolio in addition to NFTs. He recently acknowledged that he had lost almost $500,000 on such investments when he first entered the ecosystem at its peak last year.

Unfortunately for others that followed suit, this year has seen a significant decline in the value of the cryptocurrency market, which now has a total valuation of less than $1 billion (down from $3 billion a year ago).

Millions are Lost by KSI
The British rapper JJ Olatunji, a.k.a. KSI, was another prominent YouTuber who was severely hurt by the crypto market decline.

When Terra’s native token, LUNA, began to fall in price in May, he took the chance to predict that the price will eventually rise again. When the asset was going for about $25, KSI invested $2.8 million of his wealth in it.

He had no idea that the token would keep declining and eventually fall to almost nothing, wiping away the rapper’s multi-million dollar investment.

KSI is a strong supporter of the cryptocurrency market, especially bitcoin. He claimed that BTC will be crucial to the monetary system of the future last year. The rapper continued, claiming that he would have given each UK citizen £100 worth of bitcoin if he were the Prime Minister.

BTC is the ideal investment vehicle in KSI’s opinion. He believes that after ten years, individuals who have some exposure to the asset will “be laughing”:

“I feel like a lot of people are trying to search for quick money like, ‘Oh, I want to get in and out,’ but they’re not really seeing that. I’m prepared to travel a considerable distance for this.

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ART & COLLECTABLES

Ford is getting ready to enter the Metaverse with digital cars and NFTs

A month after the company announced significant personnel reductions, it has filed a trademark application covering its future initiatives in the Metaverse and NFT space.

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Ford Motor Company, an American automaker, has filed 19 trademark applications across its key automobile brands as it prepares to enter the realm of nonfungible tokens (NFTs) and the Metaverse.

Mike Kondoudis, a trademark attorney licensed by the United States Patent and Trade Office (USPTO), disclosed in a tweet on Wednesday that the business had submitted a total of 19 trademark applications covering its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others.

The trademark applications include a projected online marketplace for NFTs and virtual versions of its businesses’ automobiles, trucks, vans, SUVs, and clothes.

Ford intends to produce digital images of its vehicles, SUVs, trucks, and vans that will be verified by NFTs, according to USPTO filings submitted by the automaker on September 2.

The business also disclosed plans for “downloadable virtual commodities,” or “computer programs,” that would include apparel, accessories, and parts for vehicles for usage in “online virtual environments,” such as virtual and augmented reality trade exhibitions.

Additionally, there are plans to develop an online marketplace for “others’ digital artwork” as well as “online retail shop services featuring non-fungible tokens (NFTs) and digital collectibles.”

Less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant personnel reductions from its global workforce to decrease corporate expenses; Ford has decided to enter the Web3 area.

Ford isn’t the first automaker to enter the Metaverse market.

While premium automakers like Bentley and Lamborghini have already launched NFT collections, automakers including Nissan, Toyota, and Hyundai have indicated ambitions to enter the fast-expanding Metaverse market.

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