NHL Breakaway launches with Sweet, a platform for brands to create NFT collectibles under the Ethereum ERC-721 standard on Polygon and the Ethereum mainnet, as well as the Tezos NFT standard.
Tokenized Collectibles Platform Americana Is Bringing High-End Physical Items On-Chain
Backed by Alexis Ohanian and OpenSea, the newly-launched platform has created blockchain-based solutions for several pain points associated with buying and selling high-end physical collectibles.
5 ways to monetize your digital art with NFTs
Monetizing digital art with NFTs provides proof of ownership, increased value and potential for royalties.
Fanatic sells 60% stake in Candy Digital amid ‘imploding NFT market’
The sports merchandise giant has got cold feet in the shrinking NFT market.
Visa Issues NFT Report After Buying CryptoPunk, Cites Ethereum & Flow Blockchains
Visa is showing some bullish behavior around NFTs. As reported on at our sister network Bitcoinist today, Visa made a splash by purchasing a CryptoPunk to kick off the week. The purchase was made late last week for around 49.50 ETH – approximately $150,000.
The company is showing clear optimism on the future of the NFT market. If that purchase wasn’t enough to convince you, the firm also released a new NFT report.
“Crypto And Commerce”
The brief report can be found as the latest white paper to feature the company’s crypto research tab on the Visa.com website.
Titled “NFTs: Engaging Today’s Fans In Crypto And Commerce,” the report positions NFTs as having “vast potential in the sports and entertainment world.” While many early NFT projects are bound by a sense of community, a unique identity, or early adopter positioning, there is also no question that NFTs have massive potential in being the next wave of sports collectibles. Of course, with the recent CryptoPunk purchase, it’s clear that Visa understands that the potential goes well beyond just collectibles.
Nonetheless, the report goes on to provide a fundamental layout of what NFTs are, and why collectors, fans, teams, leagues, and talent are finding them attractive.
The FLOW blockchain is highlighted with Ethereum in the latest Visa report. | Source: FLOW-USD on TradingView.com
Related Reading | TA: Ethereum Forms Bullish Pattern, Why ETH Could Continue Higher
Lay It All Out There
The report goes on to talk about various NFT use cases, including in sectors like art and gaming (our team emphasized the importance of project use case in a recent Altcoin Evolution report). Additionally, the analysis highlights Ethereum and Flow blockchains as pivotal players in the NFT space.
The document approaches it’s close by laying out the importance of storage and access, and highlights the different types of marketplaces that can be utilized for distribution.
In sports particularly, the end of the Visa document outlines several different verticals that the company sees as notable areas of potential: loyalty and gamification, utility across metaverses, ticketing, fan governance and decision-making, and fan data with pseudo-anonymity. Indeed, several of these verticals are already seeing fruitful growth (fan tokens, for example, are already empowering fans across different sports and teams to have a say in impactful decisions).
The final ribbon on the report outlines some anticipated considerations and risks, including environmental impacts, fees, and licensing, legal, and regulatory considerations. The company also makes note to highlight emerging efforts in crypto, including Visa Crypto APIs, blockchain research from the firm, and their own Digital Currency Innovation Hub.
As per the aforementioned Bitcoinist article, the Visa wallet data from OpenSea has been gifted a variety of NFTs. Visa of course knows that “innovations such as crypto and NFTs are likely to shape sports, entertainment, and other communities going forward.”
What will be the next big purchase for the Visa wallet?
Related Reading | Grayscale Tops Up Ethereum Investment To $10 Billion
Featured image from Pixabay, Charts from TradingView.com
Terra Virtua moves to Polygon blockchain, citing environmental concerns
“By harnessing the power of this new blockchain, we can ensure that our NFTs are limiting their impact,” said Terra Virtua co-founder and CTO Jawad Ashraf.
NFT sales top $2.5B in first half of 2021
NFT sales in June alone have eclipsed those for the entire first half of 2020 for the OpenSea marketplace.
Are NFT collectibles really securities? Top Shot collector sues Dapper Labs
Do NFTs qualify as securities? Redditors debate the issue after Top Shot collector sues Dapper Labs for allegedly selling NFTs as unregistered securities.
‘Wild west’ as developers MacGyver highly popular NFTs on Cardano
Even without smart contract functionality, Cardano developers have found ways to mint and sell NFT collectibles.
Collectibles giant Funko shares surge after acquiring NFT app Tokenwave
Among the first publicly-traded companies to jump on the NFT bandwagon, they won’t be the last
MoonCats users are voting to destroy the keys to its final 160 ‘Genesis’ tokens
The MoonCats community are worried its final 160 “Genesis” collectibles will all be accumulated by bots, with more than 70% voting to destroy the tokens’ private keys.
Cult Toy Brand Superplastic Launches NFT Collection on Nifty Gateway
Instagram-famous artists Janky and Guggimon are bringing their tripped-out aesthetics to non-fungible tokens.
Rare Sneaker App Switches From Ethereum to Hedera to Skip Blockchain Fees
At $80 for minting an NFT on Ethereum versus $1 on Hedera, it was a matter of cost, said SUKU.
Early CryptoPunk Digital Collectible Sells for $762K in Ether
Flamingo, a DAO for NFT investments, bought the ultra-rare “Alien” in a Saturday auction.
CryptoGenies? Digital Avatars Are Coming to Dapper’s Flow Blockchain
“Dapper Labs was a braindead fit for us to be able to further educate our young users,” Genies founder Akash Nigam said.
The Fast-Growing NFT Market Is Problematic Yet Promising
There is authentic demand for crypto collectibles, called NFTs, but the introduction of yield farming has introduced new issues.
Doctor Who to Enter the Cryptoverse as BBC Plans Trading Card Game on Ethereum Blockchain
BBC Studios has licenced its iconic show Dr. Who to U.K.-based Reality Gaming Group to build a digital trading card game on the ethereum blockchain.
Lithuanian Central Bank’s Commemorative Digital Token Goes Live Thursday
Lithuania’s central bank is set to issue 24,000 digital tokens commemorating the re-establishment of Lithuanian independence in 1918.
CryptoKitties Creator Debuts NBA Game on Its Own Blockchain
Blockchain meets basketball in the newest game from Dapper Labs, the developers of CryptoKitties.
As Museums Go Dark, Crypto Art Finds Its Frame
With the physical world closed, artists are presenting their works in the digital glow of online showrooms, like the new Nifty Gateway.