Death of the NFT

There is some bad news for NFT fans. The digital collectibles are pretty much worthless now.

Using data from NFT Scan, the crypto platform dappGambl found that 95% of the 73,257 non-fungible token collections (e.g., Bored Ape Yacht Club) it analyzed are worth 0 ether. In other words, if NFTs were physical objects, it’d be time to put them on the same garage shelf where your Beanie Babies went to die. The report estimates that 23 million people are now the owners of worthless digital files. The crash is mainly for one reason: There just isn’t enough demand to keep up with supply.

(Culled from the MORNING BREW)

Crypto: a beginner’s guide

Cryptocurrencies, decentralised finance and blockchain technology—what do these terms really mean? The Economist’s finance correspondents guide us through the key concepts of crypto.

Don’t Fall For The Hype in Cryptocurrencies

It’s impossible to avoid - even if you tried - the words cryptocurrency, NFT, and the metaverse. It's as if these futuristic concepts are knocking – no, banging – on our front doors. The world is abuzz with thoughts, curiosities, and judgments about the industry, both in theory and in practice; turning once-fringe ideas into cultural talking points, the punchline of a million jokes, and the booze-fueled party conversation that everyone hates to love.

Is there a decentralized financial utopia beyond the hype of meme coins, billionaires, speculation, and clickbait?

Find out more HERE.

A Complete Guide To The Corporate Metaverse

Ever since Facebook’s rebranding to Meta, forward-thinking entrepreneurs have been wondering whether they can use the metaverse for business. Not surprisingly, an array of tech vendors are now adding metaverse development services to their portfolio, looking to cement their place in the emerging technology market and help their clients ride the wave of the metaverse hype.

But what is the metaverse exactly? How does the metaverse work? Most importantly, what are the metaverse business opportunities? Find that out HERE!

Top Blockchain trends

2022 is shaping up to be an exciting year for the blockchain industry. 

There are a number of developments in the use of the blockchain such as the growth of blockchain gaming, central bank digital currencies (CBDC's), the mataverse and entertainment, and NFTs. 

All of these point to transformation for the blockchain landscape, which should boost the use of this technological concept across the board. There is a lot that inventors and others should consider as the blockchain continues to be more involved in daily life.

Find out more HERE.

'The Sky Is the Limit' - How NFTs Are Revolutionizing the Art Market

Non-fungible tokens, or NFTs, have gone in the last year from a relatively obscure blockchain technology to a market valued at around $44 billion. WSJ explores how NFTs are transforming the art market and tells the story of who is behind the buzz.

NFTs: are they worth the hype?

In the past year a new trend in the crypto world has boomed: NFTs, or non-fungible tokens. They started as a way for digital artists to have ownership over their work but have transformed into a dizzying new multi-billion-dollar marketplace. Are they worth the hype?

Ways to Start Using NFTs in Your Business

NFTs may have been floating around since 2015, but they only gained massive popularity in 2021. Some NFTs sold for millions of dollars!

Although an emerging technology, NFTs in business have become a hot topic. 

This article explains how to use NFTs for your business and what to know before delving into these digital assets.

Want to know more? Click HERE. 

A Visual Guide to Profile Picture NFTs

How do you represent yourself on social media? For most people it’s a selfie, a photo with their friends, or a picture of their pet—but what about a digitally-created character?

Profile picture NFTs are pieces of digital artwork that people use to express themselves online. Each item is a depiction of a character’s face, and has a unique mix of attributes that gives it a sense of collectability.

Like other NFTs, they’re secured on a blockchain and can be bought and sold for cryptocurrency. And while there’s nothing to stop you from screenshotting an NFT and using it for your own profile, the market for these items continues to grow.

To learn more, check out this infographic HERE. It explains how three well-known profile picture NFT collections were created.

Soaring NFT sales redraw the art market - FT Film

The market for non-fungible tokens, or NFTs, is soaring, reaching $10.7bn in the third quarter of 2021. For the art world it's a new frontier, where ownership of digital assets is encrypted on the blockchain. The FT talks to artists, auction houses and collectors about how NFTs are bringing in new buyers and setting records for sales of digital works, and we follow a painter making his first NFT.

 

Non Fungible Tokens - a comprehensive overview

NFTs are the current buzzword. The word NFT stands for non-fungible token, which means a unique, irreplaceable cryptographic object.

The purpose of NFTs is to manage ownership of digital content (digital collectible items) by storing the ownership in the form of a digital certificate on a blockchain (usually on the Ethereum blockchain, but other blockchains can also be used). In this manner the buyer can prove that he is the owner of a certain digital item.

Find out more by reading Joris Lochy's "NFTs - A hype or a lasting new investment asset class?"

Non-Fungible Tokens (NFT) – A good investment or a setup for fraud?

"The “best” part of the NFT market craze is that it appeals to non-technical people who don’t understand what they are buying but desperately want it to work." writes Tim Sloane, VP, Payments Innovation at Mercator Advisory Group.

Read full article HERE.

Non-Fungible Tokens - Asset or Scam?

Photographers, filmmakers, and digital artists are falling over themselves to mint NFTs in a get-rich-quick scheme that will do little beyond transferring wealth from artists to tech billionaires.

Why are so many people buying into the idea that something is rare because everyone says it is?

Get the lowdown in this article - NFTs Are a Pyramid Scheme and People Are Already Losing Money

What are NFTs and Crypto Art?

NFTs have been taking off over the last few months with Artists like Beeple blazing the way for digital artists to make a ton of money selling their work. But what the heck is crypto art and how does this all work and can you you take advantage of this new blockchain art world.