The MetaMask Institutional wallet added Cobo NFT management to its growing list of custodial services for institutional investors.
What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
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An NFT collector borrowed 1,044 ETH against two MAYC NFTs just to purchase another MAYC NFT for 1,000 ETH, and Sega is set to drop its first blockchain game.1276
Pantera CEO Dan Morehead painted an optimistic outlook for the wider cryptocurrency space during a keynote presentation at Token2049 in Singapore.1307
The internet hacktivist group called on high-profile celebrities and big brands to speak up and take a stand.7566
Cost efficiencies, improved liquidity, 24/7 market access and the removal of intermediaries were the main advantages cited that blockchain infrastructure has over current legacy systems.2632
The Animoca Brands co-founder suggested that Asian gaming companies don’t have to deal with the same amount of pushback against NFTs that U.S companies have faced.1323
AC Milan partners with Solana blockchain-based football game MonkeyLeague, while Pixelmon attempts a comeback after poor reception to its NFT collection in February.1706
The presence of global players may be viewed positively by the industry, but Tony Ling claims this does not impact mass adoption.1192
The top collectible recently sold for 6 ETH on OpenSea.1527
The role includes “full product life cycle legal advice and support for global NFT products,” among other responsibilities.3641
From carrying medical data to streamlining royalty payments, NFTs serve a variety of important technological purposes. Bored Apes are a demeaning distraction.23910
Supporting the uptrend, the number of NFT holders grew 32.24% over the past three months, as evidenced by data from NFTGo.5469
NFTs improve interactivity by allowing users to unlock fully modular, community-driven in-game experiences to which they own the pieces, explains Mark Soares, the founder of Blokhaus Inc.2613
A new report suggests the Ethereum staking ecosystem could become a formidable industry impacting a wider crypto economy.1493
NFTickets could potentially allow airlines and events to increase their revenue through resales on the secondary market.4543