NFT News June 6, 2022

What Are NFTs and What Should I Look for in a Collection?

Published

3 weeks ago

June 6, 2022

NFT is an abbreviation for the term “Non-Fungible-Token,” and is essentially any piece of digital art that has a unique signature, numerical value, or designation on a blockchain or database. The reason they are “non-fungible” is because no two people can possess the same piece of art with the same designation. It isn’t necessarily the image or artwork that is unique, in this case, it is the coding that identifies the piece and makes it completely unique. Since their inception, NFTs have become controversial, valuable, and unmistakable touchstones in financial culture and in global vernacular in general. So what makes an NFT valuable, and what should you look for if you want to start buying them?

Valuations

NFTs are essentially digital art, and therefore, anyone can identify any single NFT or series of NFTs as valuable with their buying power, just like any other type of art. This is important to remember because different people will tell you different things about NFTs as far as valuation. I won’t say that it is completely arbitrary, but it is certainly based less on the “financial markets” and more on individual perspective and collective buying power. Some NFT collection are in themselves very valuable, and some are not as valuable as a whole, but do contain single pieces that are worth a lot.

Buying NFTs

Buying NFTs is very easy and straightforward. You can but them on a site called OpenSea, or straight from the artist’s websites if you prefer. They often accept multiple forms of payment such as exchange of actual NFTs, crypto, and straight cash. You never know what NFT will hit the big time, so if you’re looking to make money, diversification and research will help you. Some NFTs have specified rarity algorithms that govern their creation, so keeping an eye out for certain traits may lead you to getting your hands on a very rare type, which could become very valuable. At the end of the day, you could diversify your portfolio if you want to invest, or just buy some cool looking pieces if you want to own a piece of history.

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Billy Houghton

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading. He started writing about the Metaverse, as he thinks its the future of everything AI related.

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NFT News

An Exclusive NFT Collection Comes to Cantina Royale

Published

10 hours ago

June 29, 2022

Billy Houghton

A high-profile collection of NFTs called Elrond Apes will soon be joining the ecosystem of Cantina Royale. This platform is the largest Play-to-Earn and Free-to-Play platform on hot EGLD ecosystem. According to the company’s official statement shared recently for a press conference, the platform’s non-fungible tokens of Elrond Apes are currently available as playable characters in Cantina Royale. The collaboration allows all Elrond Apes NFTs to be featured across single-player and multi-player gameplay levels of Cantina Royale platform.

The Scoop

A comment released independent of the original release, has Daniel Sagi saying, “Seeing NFT interoperability come to life with renowned NFT collections like Elrond Apes always feels like getting one step closer to the core tenet of blockchain technology. By bringing the Elrond Ape and Cantina Royale community together, I’m certain that this partnership will be a shiny case study for interoperability while everyone enjoys playing with their favorite NFTs.”

“Cantina Royale’s innovative vision to bring the first of a kind free-to-play play-to-earn game was one that Elrond Apes wanted to be part of. From Lending, to breeding to playing the game with their favorite NFTs is where our communities will enjoy.”

NFT News

The Genesis NFT Collection From Bentley Motors is Coming

Published

4 days ago

June 25, 2022

Billy Houghton

The famous British luxury car designer Bentley Motors Limited is finally doing what we all hoped they would do all along. They will be designing something for the future Web3 ecosystem. This is going to take the form of the launch of a non-fungible token (NFT) collection, which will be on the Ethereum scaling platform Polygon, the company announced today. According to a recent announcement, the new NFT collection is slated to hit the markets in September 2022 and will feature a collection of a total of 208 pieces.

The News

Bentley Design is going to be in charge of making the NFT collection. Investors and purchasers that obtain the NFTs will receive special access and rewards from Bentley Motors. The car manufacturer did not release the NFTs’ price tag as yet.

Additionally, Bentley Motors has told sources that they plan to contribute the proceeds of the sale of all the NFTs to supporting students interested in engineering, design, and manufacturing. Additionally, the company plans to use the funds to support organizations that push for sustainability, especially in the transportation industry.

The Scoop

“The car manufacturer chose to drop its NFT collection on Polygon because the network is carbon neutral. Per the announcement, the Bentley NFTs will be eco-friendly, helping the company build on its commitment to achieving end-to-end carbon neutrality by 2030.” -Bentley

This collection will eventually set a precedent that all car companies and will hopefully result in more than a few collections getting fast-tracked.

NFT News

Cryptoys is a New Startup For Kids Blockchain Development

Published

5 days ago

June 24, 2022

Billy Houghton

Cryptoys, the internet start-up, is getting a boost in funding to achieve its goal. That goal is, in short, building a blockchain-based toy infrastructure that will get younger users used to the ideas of digital ownership and complex NFT mechanics. They have just finished raising $23 million which was headed up by Mattel, Dapper Labs, Draper & Associates, Acrew Capital, CoinFund, Animoca Brands and Sound Ventures. Cryptoys recently announced a $7.5 million seed round as well, and in this article we will examine the plan.

The News

Why should kids care about their in-app purchases being blockchain-ordained? This is a question put forward by the company as it finishes the round of funding. Weinraub, the CEO, says that “kids bouncing from platform to platform means a lot of digital asset value being lost, and he thinks his own children would be interested in reselling in-game items they’ve bought and grown tired of to fund new digital purchases.” Weinraub has stated that he believes that the occurrences of parents spending large amounts of money on cartoon animal NFTs means that they can get closer to their kids this way, and they want to continue that trend by enhancing the parental voice in the markets.

The Scoop

“For those parents that have gotten involved in the NFT space in the past several months, it’s fair to say that many investments haven’t turned out as profitable as anticipated even as many of the companies involved have seen big paydays.” -Tech Crunch