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How to Invest in LuxFi – the Luxury Asset-Backed NFT Marketplace – Sponsored Bitcoin News – Bitcoin News

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by Bitcoin.com PR
For many people the luxury market is out of reach. However, with LuxFi, that is no longer the case. The platform combines blockchain technology, NFTs, and a luxury goods market open to anyone, anywhere. LuxFi will mark a significant shift in the way luxury goods are traded, and how people acquire them.
LuxFi is at the center of this transformation in the market. The platform aims to create a transparent, open and data-driven marketplace where users can safely transact with each other. Let’s break down all the components of LuxFi.
At the core of LuxFi are non-fungible tokens. An NFT is a type of crypto asset that is meant to reflect uniqueness. They were invented on the Ethereum network with a token design designated ERC-721.
The ERC-721 was created first to reflect collectible assets on the Ethereum network. The most famous example is CryptoKitties, which became the most popular DApp on Ethereum in 2017. The ERC-721 token standard quickly migrated to digital art where NFT marketplaces such as OpenSea, Rarible, amongst others, rose into prominence.
LuxFi identified an untapped market as luxury goods are unique pieces that often have no way to be compared with each other. They are the ideal physical objects to be transformed into NFTs. LuxFi effectively uses NFT technology to create digital authentication certificates of the physical luxury assets.
This process is known as “tokenization” and involves bringing assets from outside the blockchain into the network. LuxFi understands that NFTs are the perfect technology that could positively impact the global luxury market.
With Luxfi, each NFT is backed by a luxury asset. The NFT contains all information and history of luxury items on the blockchain. As LuxFi is using product fingerprint technology to tie the physical product with its NFT counterpart, a Product Fingerprint acts as the physical identifier. Tokenization and the creation of NFTs is heavily interlaced with LuxFi’s NFT marketplace, a platform that unlocks the true value and increases the liquidity of real-world luxury assets.
NFTs give you a way to quickly and safely verify the authenticity of any luxury item, but that’s only the start. People also need a way to transact the various items in a secure marketplace that is transparent and open.
LuxFi has designed an entirely original marketplace where the tokenized luxury pieces can be traded. Here, LuxFi is working directly with brands and retailers. The platform creates a unique way for people to buy, sell and invest in luxury assets that are authenticated by brands or professional verifiers, using traditional payments or cryptocurrencies.
The new owners don’t necessarily need to redeem the physical products for future reselling, as the NFTs can be transferred multiple times before the final owner decides to acquire the physical items. In this way, investors can quickly trade luxury items to profit without having to worry about shipping, storing, and transferring the physical item. The users can also be sure that they can receive their items if they wish to own the underlying asset.
Even more so, LuxFi decided to go with an extra step. The luxury goods market often lacks information regarding prices and valuations. The platform leverages the power of big data to monitor transactions in the market and update the information feeds of the platform. Now, buyers and sellers have access to objective and up-to-date information that will help them make the best choices.
The LuxFi marketplace is a complete platform for luxury goods buyers, sellers, investors and collectors. All of the participants will be able to profit from a state-of-the-art space designed to transform the luxury market with the use of blockchain technology.
$LXF token is the native asset of the LuxFi platform and ecosystem. Users who make use of $LXF are buying into the economic model of the LuxFi platform. As such, the token is a reflection of the state of the services provided by LuxFi. The $LXF token has multiple roles in LuxFi’s expensive ecosystem, such as:
LuxFi has designed a tokenomics model where all the features of the platform reinforce the value of $LXF. This system is meant to sustain the long-term use of the token, and as the platform expands, so will the utility of the native token.

LuxFi will be doing their launchpad on MantraDAO, Trustpad and Bitmart. These three launchpads will be hosting the platform’s IEO and IDO on November 8th.
$LXF token will be listed on UniSwap and BitMart on November 9th. From that moment on, trading can start on public platforms for the entire crypto community.
To know more about LuxFi’s upcoming launch, visit the official social media websites listed below.
LuxFi identified a need in the luxury market for a global and data-driven platform that allows secure trading of authenticated items. LuxFi is creating a new business use case for NFTs that goes beyond digital art. NFTs on their platform are the bridge between the physical and the digital to create a friction-free experience in the luxury market. In the near future, asset-backed NFTs could be the new revolution for e-commerce.
LuxFi is the world’s first asset-backed NFT marketplace for luxury assets, where people can buy, sell and invest in luxury assets using cryptocurrencies and traditional payments. They are able to eliminate counterfeiting while minting an NFT on a multi-chain blockchain network, with a focus on luxury assets that hold value well and have a high reselling value. They leverage on a big data intelligence system and unique algorithm for automated data collecting and data processing, the value of each NFT on LuxFi platform is backed by real-world data.
 
Website: https://www.luxfi.io
Twitter: https://twitter.com/luxfiofficial
Telegram Announcement Channel: https://t.me/luxfinews
Telegram Official Group: https://t.me/Luxfiofficial
Medium: https://luxfiofficial.medium.com
Reddit: https://www.reddit.com/r/LuxFiOfficial
Youtube: https://www.youtube.com/channel/UCNTeHyVaUX-0OE7kMNXlCOw
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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This Week's NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower – Markets and Prices Bitcoin News – Bitcoin News

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by Jamie Redman
Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%.
NFTs had a lackluster week as sales and prices have followed in sync with falling crypto asset prices. Statistics show that a large number of NFT collections have lost considerable market value during the past week. For instance, metrics show that Bored Ape Yacht Club’s (BAYC) floor value on September 13, 2022, was $114,388 and today, the floor value is around $90,026. BAYC’s market valuation on September 13 was $1.14 billion and today it’s down 21.29% to $900.25 million.
Data shows that the second most expensive NFT floor value belonged to Cryptopunks on September 13, and that’s still the case today. However, the cheapest Cryptopunk last week was around $98,941, but today you can get one for $79,960. Cryptopunks’ market cap has nosedived 19.18% lower during the past week. The same can be said for a majority of blue chip NFT collections like PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways, and Doodles.
Seven-day statistics show that the BAYC NFT collection is the compilation with this week’s top sales, as $8,603,290 in trades were recorded. BAYC sales have increased by 17.33% and the second largest NFT collection in terms of weekly sales is RENGA. The RENGA NFT collection has managed to print $5,822,323 in seven-day sales, up 121.08% since last week. Overall, however, NFT sales across 17 blockchains monitored by cryptoslam.io are down 10.88% lower than last week.
This Week’s NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower
Ethereum (ETH) captured the top NFT sales and Solana (SOL) recorded the second largest number of digital collectible sales this week. Although, ETH-based NFT sales slipped 1.66% lower than last week with $79.05 million in seven-day sales. SOL-based NFT sales are down this week 42.11% lower than last week with $23.71 million. Both Flow and Immutable X saw an uptick in NFT sales. Flow NFT sales jumped 59.42% higher, and Immutable X NFT sales saw a significant 790.96% increase.
The top five most expensive NFTs sold this week all stemmed from the BAYC collection and include Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179, and Bored Ape #1846. Bored Ape #441 sold for 351,000 DAI and Bored Ape #2897 sold for 215.38 ether or $296,404. Bored Ape #5733 was sold three days ago for 120 ether or $176,458, and Bored Ape #4179 sold for 123 ether or $176,307. Lastly, the fifth most expensive, Bored Ape #1846, was sold for 106 ether or $151,939 four days ago.
What do you think about this week’s NFT sales dropping more than 10% lower than last week’s sales? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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