Metaverse | Nfts | News

2023-05-28 17:48:27 ORDINALS IS BRINGING THE NFT INDUSTRY TO BITCOIN

The Ordinals protocol has taken the Bitcoin world by storm. Quickly amassing over 9,000,000 inscriptions, the new protocol allows for arbitrary data to be embedded on the Bitcoin blockchain. In addition to attracting attention from the NFT industry, Ordinals have led to a major increase in the fees required to send bitcoin, eliciting new debate on how Bitcoin should deal with high fee environments.

In a recent interview with Bitcoin Magazine, Farokh, founder of the Rug Radio platform and a well-known collector within the NFT industry, shared insights into the world of Bitcoin NFTs and his vision for the Bitcoin inscription market’s future. Reflecting on his own Bitcoin and NFT journey, Farokh acknowledged the initial confusion surrounding Bitcoin in 2012, given the lack of development and user-friendly platforms at the time. However, he highlighted the rapid growth and development of NFT platforms in 2021, and how that is reflected now in the context of Bitcoin NFTs’ sudden rise in popularity.

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2023-05-27 15:32:02 Nike OF1 NFT Sale Surpasses $1M Despite Delays, Tech Issues

Nike's .SWOOSH Web3 platform has released its first non-fungible token (NFT) sneaker collection, surpassing $1 million in sales despite persistent delays and technical issues that hindered the user experience. The sale of the highly-anticipated Nike virtual creations began on May 15, nearly a week after their previously-announced start date of May 8. The first round of sales, called "First Access," was open exclusively for select users who were airdropped ".

The "General Access" sale began on May 24 – two weeks after its proposed sale date of May 10 – and aimed to offload any remaining NFTs from its total inventory of 106,453. As of Thursday afternoon, over 66,000 NFTs had been sold, according to Polygonscan. Each NFT was priced at $19.82 – a tribute to the year the Air Force 1 sneaker was first released – indicating that Nike has raked in about $1.3 million from sales so far, though the sale is ongoing and now ends on June 1. While initial numbers look promising, the launch was delayed several times due to technical and traffic issues, according to Nike, leaving excited buyers frustrated by the cumbersome process.

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2023-05-26 13:38:02 Elfin Kingdom Announces NFT Staking Campaign

Approximately 40% of web3 games currently in development will go live within the next 12 to 18 months according to leading platforms Polygon and Immutable, highlighting the rapid pace of innovation in decentralized gaming. This trend reflects the increasing investments in web3 games, making them one of the most heavily invested sectors within blockchain in 2022. Web3 gaming has introduced exciting new monetization mechanisms to the world.

Elfin Kingdom is one of the leading web3 games on Binance Smart Chain, with a dedicated user base that grew significantly in the past year during beta. The public launch of Elfin Kingdom last month solidified the games position as a frontrunner on BSC. As Elfin Games gears up for the launch of Elfin Arcade, which aims to attract fresh gamer and developer talent to the BSC gaming ecosystem, the platform's NFT Staking Campaign will play a vital role in driving growth and propelling the platform to new heights. The campaign creates a dynamic ecosystem where gamers can earn rewards while actively contributing to the success and expansion of the Elfin ecosystem.

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2023-05-25 09:17:15 Bitcoin Network Confidently Ranks 2nd In NFT Sales

Bitcoin emerges as the NFT world’s emerging star. According to CryptoSlam statistics, the network has swiftly risen to become the second-largest NFT chain as NFTs continue to attract the Bitcoin community. The network has seen an incredible amount of NFT sales on secondary marketplaces in the last 30 days. Bitcoin’s Ordinals trading volume is presently second only to Ethereum, which did $391.8 million in NFT volume, more than double that of Ordinals in 30-days $171 million beginning April 24.

BRC-20 token transactions accounted for the bulk of ordinals activity on the network, according to a Dune dashboard created by BRC-20 token standard inventor Domo. BRC-20 is patterned after Ethereum’s ERC-20 token standard and was suggested in March 2023 by Anonymous developer Domo in Bitcoin Request for Comment 20. The BRC-20 token standard enables the minting and transfer of fungible tokens on the Bitcoin network by using ordinal inscriptions. Token standards are basic rules that specify how produced tokens function; for example, ERC-20 is the token standard for producing ERC-20 tokens on the Ethereum network. Unlike the ERC-20 standard, the Bitcoin BRC-20 standard has not been ratified and is still in the works.

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2023-05-24 10:06:09 Glory Star's Digital Collection NFT App CheerReal Announces Major Platform Upgrade

Glory Star New Media Group Holdings Limited, ("Glory Star", the "Company" or "we") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce company in China, today announced a major upgrade to its self-developed digital collection non-fungible tokens ("NFT") application, CheerReal. The update is now available on both Android and IOS apps and comes with improved security, advanced technology, enhanced functionality, and a more user-friendly interface.

CheerReal is positioned as a "cultural and artistic digital collection" platform that aims to create a new cultural and artistic interactive experience, connecting virtual and real economy through innovative digital art and a diverse and inclusive metaverse world. As a member of the Trusted Blockchain Branch of the Beijing Information Industry Association, the platform is powered by Blockchain Service Network-Decentralized Digital Certificate ("BSN-DDC"), a network infrastructure that is jointly initiated by the State Information Center, China Mobile, and China UnionPay, which consists of more than ten BSN Open Permissioned Blockchains with robust technical systems and distinctive features.

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2023-05-23 15:43:02 OIST hosts French-Japanese Seminar on Metaverse and Virtual Reality

Okinawa Institute of Science and Technology (OIST) welcomed participants of the French-Japanese Seminar on “Metaverse and Virtual Reality – The Science and Technology of Interacting with Digital Worlds”. The Seminar was the brainchild of Dr. Anatole Lécuyer, Research Director at Inria, France’s National Institute for Research in Digital Science, who came to OIST in March 2023 as a guest of TSVP, OIST’s Theoretical Sciences Visiting Program.

Its goal was to gather experts from Japan and France working on a wide range of areas in science and technologies needed to build the Metaverse, to exchange ideas and build collaborations. “Virtual reality has always been a multi-disciplinary subject,” said Dr. Lécuyer. “It’s too big a challenge to face alone”. The seminar was hosted by TSVP, with funding provided by the French Embassy in Japan, and was co-organized by Dr. Shunichi Kasahara of Sony Computer Science Laboratories, who recently joined OIST as a Visiting Researcher. “We can imagine having new technologies, abilities or new bodies, but how do we subjectively feel it as self?” Dr. Kasahara asked. Participants in the seminar were welcomed by OIST’s Dean of Research.

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2023-05-22 09:20:14 NFT Artist and Collector OSF: 'NFTs Are Just a Medium'

London’s House of Fine Art (HOFA) gallery is one of the pioneers of the crypto art scene, being one of the first venues to showcase NFT artworks in a physical space back in 2021. Back then, it took a somewhat conservative approach, focusing on prints of CryptoPunks alongside physical sculptures and NFT-adjacent work. This time around, its "Beyond the Screen" exhibition is dialing up the digital element, with vibrant screens displaying eye-popping animated work by the likes of XCOPY.

NFTs are “just a medium,” said NFT artist and collector Ovie Faruq, aka OSF, who showed Decrypt around the space. “It's just like, do I have my painting on an oil canvas, or do I have a photograph? Or do I have a screen displaying some digital art? It's just a canvas; it's just a mechanism to transact,” he added. Ultimately, he argued, “people will start buying NFTs without knowing they're NFTs. And that's the sort of thing that will get us over this, like, stigma that's attached to it.” OSF’s own contribution to the exhibition, “Super Fan,” inadvertently predicted the current PEPE-led memecoin market frenzy. The digital artwork, which OSF drew “two or three months ago,” features a “kind of loner character” who’s obsessed with Pepe the Frog, and surrounded by market charts showing green and red candles.

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2023-05-21 10:50:22 Injective (INJ) Surges By 19% Following ‘Surprise’ NFT Announcement

Injective (INJ) is one of the few tokens to have racked up impressive gains in the last week. While most of the assets in the crypto market were marked by insignificant price actions leading to little gains or losses, INJ stood out with an excellent price movement to become one of the biggest weekly gainers. According to data from CoinMarketCap, Injective’s price gained by 19% in the last seven days boasting of a market performance.

INJ initially began the week trading around a price region of $6.08 and soon recorded consecutive gains and losses before experiencing a price hike on May 17 to hit a market price of $6.7. On May 13, the team behind the Injective blockchain tweeted a statement urging the user community to interact more with dApps built on Injective or its L1 chain, stating there could be a chance to receive an “NFT-related surprise.” Interestingly, the price rally by INJ in the last week appears to be due to an exciting announcement made by the project developers six days ago. This announcement sparked much excitement within the Injective community, which has been represented not just in price but also in the network activity.

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2023-05-20 17:05:07 NFT Marketplaces Diminish in Ethereum Gas Use Amid Fee Crisis

Ethereum’s gas consumption patterns, Non-Fungible Tokens (NFTs) no longer reign as the top gas guzzlers on the network. Data from the crypto analytics platform Nansen revealed that last week, NFT marketplaces accounted for just over 3% of all gas consumption. In stark contrast, the decentralized exchange Uniswap used more than ten times that amount, clocking in at 31.99%. Highlighting the development, Nansen tweeted.

The Ethereum network’s congestion and high gas prices are attributed, in part, to intense activity caused by a surge in meme coin trading, such as PEPE tokens and Floki Inu. This led to an overflow of transactions and, subsequently, skyrocketing gas prices. Ethereum’s community has responded to these challenges, and various Layer 2 (L2) scaling solutions have been proposed to reduce gas prices. Layer 2 solutions, such as state channels, plasma chains, and rollups, aim to offload some computational workloads from the main Ethereum blockchain, thereby reducing the need for gas and its cost. One trader was reported to have paid as much as 64 ETH.

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2023-05-18 13:17:02 ITV STUDIOS LAUNCHES THE VOICE IN THE METAVERSE

ITV Studios and The Virtual Brand Group have launched The Voice Studios, an immersive virtual experience based on the Emmy Award-winning series The Voice. The free-to-use virtual experience allows fans to create their own music, show off their dancing skills, compete in Battle rounds, test their musical knowledge and audition to be on an upcoming season of the hit series. The Voice Studios launches in Vegas City, a metaverse entertainment destination in Decentraland.

Virtual Brand Group known for building immersive experiences, communities and virtual fashion, is collaborating with ITV Studios to develop, build and operate The Voice Studios. The Voice Studios is set to launch with five music-themed experiences, including Music Maker, where users can publish a track and compete to win prizes or just make music for fun. Other games include an immersive Musical Treasure Hunt, Dance Off, Rhythm Challenge and Music Trivia. The Voice Studios on their own or participate in head-to-head Battles with others vying to be the top Gamer, Dancer and Creator. The fans themselves will get to vote on who ultimately gets crowned the winner in each category.

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