NFTs & DeFi 🗓

2023-05-20 10:25:09 Pudgy Penguins wants to use its NFT-inspired toys to bring IP to the real world

Pudgy Penguins, an (admittedly adorable) NFT collection that also doubles as a web3 IP company, is releasing a line of toys dubbed Pudgy Toys, Luca Netz, CEO of the company, told TechCrunch+ in an exclusive interview. As the NFT sector continues to waddle through a period of frosty consumer interest, some collections are diving deep, exploring new waters and expanding their horizons to the physical realm in hopes of reaching more people and growing their brand. The penguin plushies are being made in collaboration with PMI, which also produces toys for Fortnite and Among Us, Netz said. The company sees physical toys as a “Trojan horse” for the web3 ecosystem and NFTs. “Unfortunately, NFT revenue is not sustainable and it’s not really growable,” Netz acknowledged, adding that the toys are meant to make the company more sustainable. “Secondly, we wanted to create an IP that transcends this ecosystem, and the way I know how to do that is through physical products.”. Launched in 2021 and acquired by Netz in April 2022, the 8,888-NFT collection has grown to include real-world products.

NFTs | DeFi | News Open / Comment

2023-05-20 04:25:04 NFT Lending Platform Blend Surges Past 100,000 Ethereum in Total Volume

NFT marketplace Blur is growing by leaps and bounds. With the launch of Blend, Blur’s new lending platform, it’s hit yet another milestone. Blend lets users take out Ethereum loans by putting their NFTs up as collateral. They can then use this loan to purchase new NFTs on the Blur marketplace. In return, liquidity providers receive interest, a mechanism that’s spawned the “NFTfi” niche in crypto. Data per Dune, now shows that Blend has facilitated more than 100,000 ETH in total volume, or roughly $181 million, just 17 days since its launch. Though the project racked up more than 3,000 loans from 900 unique lenders, adding Bored Apes Yacht Club (BAYC) and Mutant Ape Yacht Clube (MAYC) collections on Monday fueled further enthusiasm among NFT collectors. BAYC and MAYC accounted for a total volume of 2,267 ETH on day one. On Wednesday, BAYC was the third-most traded collection on the platform with a volume of 3,082 ETH, just behind Azuki (4,616 ETH) and Wrapped Cryptopunks (2,260 ETH).

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2023-05-19 20:46:05 NFT Marketplace DIBA Goes Live on ‘Really Good for Bitcoin’ Smart Contracts

DIBA, a new marketplace meant for exchanging Bitcoin-based NFTs, went live on Thursday, the firm said in an e-mail to CoinDesk. The marketplace will allow users to trade any asset issued on Bitcoin smart contracts on layer 2 networks, such as Lightning Network. DIBA also released a Bitcoin-only wallet – which can store music files and art – in partnership with crypto miner Hut 8 Mining (HUT). Bitcoin-based tokens and assets have seen a frenzy of new players entering the field with new features to attract users. The most notable was the hype driven by the Ordinals Protocol and BRC-20 tokens, where developers issue tokens or art on the Bitcoin, which lead to massive transaction fees. However, DIBA works on the “Really Good for Bitcoin” (RGB) smart contracts, which are built on layer 2 networks. The RGB protocol allows for cheaper and more private transactions, making it easier to issue tokens on Bitcoin, DIBA co-founder Gideon Nweze said in a statement. Building on RGB may even help mitigate high fees on the Bitcoin network, Nweze added.

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2023-05-19 16:25:13 NFT Market size to Cross USD 342.54 Billion By 2032, With an 27.60% CAGR by 2032

According to a comprehensive research report by Market Research Future (MRFR), " NFT Market By Offering, By End Users, And By Region and Forecast till 2032”, the market is predicted to thrive substantially during the assessment era from 2022 to 2032 at a healthy CAGR of approximately 27.60% to attain a valuation of around USD 342.54 Billion by the end of 2032. The MRFR study reports imply that the NFT Market Research Report Information by Offering, Region, and End Users. Forecast Till 2032, the global NFT market is predicted to bolter substantially during the review era from 2023 to 2032 at a substantial growth rate of around 27.60%. The reports further predict the market will acquire nearly USD 342.54 billion by the end of 2032. As per the documents, the NFT market was valued at nearly USD 38.2 billion in 2022. An NFT, non-fungible token, or nft crypto refers to a unique token recorded in a blockchain that shows ownership of a digital or physical asset. NFTs have an NFT drop feature that enables creators to pre-announce when they toss their latest NFT projects on Coinbase NFT.

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2023-05-19 10:25:08 China prosecutors to crack down on NFTs used as crypto proxies

China's national agency responsible for legal prosecution published a new set of non-fungible token (NFT) guidelines on May 15, warning that NFTs are being used as a proxy for illegal securities and speculative digital assets. The guidelines from the Supreme People's Procuratorate of the People's Republic of China recommend stronger "risk research and judgment" to differentiate between “true innovation” NFTs and quasi-crypto “pseudo-innovation,”. The prosecutors acknowledged that “as a new application of blockchain technology, NFT has certain development potential." However, they also saw a tendency toward “securitization” of NFTs where ownership of one token or collection was shared among multiple individuals, which they claim violated proper NFT criteria such as non-reproducibility, indivisibility and uniqueness. The court found that NFTs “have the object characteristics of property rights such as value, scarcity, controllability, and tradability” and “belong to network virtual property” meaning that they “should be protected by the laws of our country.” Their definition of NFTs set an important and far-reaching precedent for digital property in China.

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2023-05-19 04:25:07 NFT Show Europe Invites Exhibitors to the Major Blockchain and Digital Art Conference

NFT Show Europe, the leading conference for the blockchain, metaverse, and digital art industries, is inviting exhibitors to sign up for its forthcoming event. As an exhibitor at NFT Show Europe 2023, companies will have the opportunity to showcase their innovative solutions to potential investors, clients, and industry partners who are eager to discover the next big thing. NFT Show Europe, set to run from July 14-15, 2023. At #NFTSE, participants will have the opportunity to rub shoulders with leaders from Alpine F1, Activision Blizzard, Epic Games, and Crypto. Page, Decentraland, SKI Federation, Joyn, Lama, Navi Studio, United Nations, UNICEF, Odos, Polkadot, and Zepeto among other companies and visitors from 55+ countries. Exhibitor spaces are now available for the European conference but spaces are selling fast. Interested parties are encouraged to reserve their spot now to ensure their company’s presence at the major event. NFT Show Europe is one of the world’s leading meeting points for web3, blockchain, metaverse, and digital art pioneers.t.

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2023-05-18 20:41:01 ApeCoin DAO Approves Proposal to Boost Bored Ape NFTs, APE Ecosystem Growth

ApeCoin DAO has passed a community proposal that would see the launch of an Accelerator that supports the incubation of projects utilizing apecoin tokens (APE) to bolster the fledging ecosystem. The new AIP-209, which was submitted and approved via ApeCoin DAO’s Idea Proposal system, will incubate and launch community-approved projects that focus on improving the value of the Bored Ape Yacht Club (BAYC) NFT collection, and other projects that use ApeCoin. The "Ape Accelerator" aims to engage the ApeCoin community as initiators, voters, and participants. Initiators can submit proposals for projects to be incubated, while voters can use their APE tokens to vote on whether the proposed projects should be launched. Participants will be able to support approved projects by purchasing NFTs and other yet-unspecified tokens. ApeCoin was initially issued as a governance token by creator Yuga Labs to holders of the popular BAYC NFT collection, which is composed of 10,000 unique images of cartoon apes that sell at $83,000 apiece as of Thursday.

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2023-05-18 16:14:01 Avalaunch delivers a new NFT marketplace

Avalaunch delivers its own created Peek NFT. It has been built to make it a product that encompasses a one-of-its-kind NFT marketplace and targets NFTs without utility. Peek NFT will be instrumental in changing the very way NFT trading is carried out. Subsequently, it will provide backing for creations developed on the Avalanche blockchain. Avalanche is concerned about organizing NFT collections with a better positioning inside a more extensive ecosystem. Peek NFT will provide expertly created verticals with added stress on NFTs that bring viable utility. There will be Avalanche ecosystem-oriented projects and the active participation of all concerned. A few of the sales might provide connectivity with Gold Stakers who take part. The idea is to connect as many users as possible with the marketplace. To make this possible, there will be extensive marketplace scouring. The trading of NFT will be prevalent. Community interactions will also be organized on a regular basis. Avalaunch will be managing created NFT sales for users to participate actively. An NFT marketplace with a difference is what the Peek NFT is all about.

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2023-05-18 10:14:02 Subversive Announces Metaverse ETF Closure

Subversive Capital Advisor (the "Advisor" or the "Company"), a Registered Investment Advisor primarily focused on different mission-driven emerging sectors, has announced today that the Board of Trustees (the "Trust") has determined to close and liquidate the Subversive Metaverse ETF (CBOE: PUNK) (the "Fund") effective immediately after the close of business on May 31, 2023. Subversive Capital Advisor will continue to operate its other Exchange Funds as usual. In 2022, the world watched as Meta, formerly Facebook, place a big bet, including its name, on the future of the Metaverse. Subversive Capital Advisor launched the Fund with a skeptical view of Meta's imagining of what that world would look like, and to invest in other companies spearheading innovation in this new space. "We continue to believe Meta's focus is misguided and, we've decided to pivot given the rapid advances in more promising technology such as Artificial Intelligence." said Subversive's portfolio manager, Christian H. Cooper. The Fund's last day of trading will be May 31, 2023, which will also be the final day for creation unit orders by authorized participants.

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2023-05-18 04:14:02 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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