Connect with us

NFT

Wearable NFT clothing could trigger $11 billion record quarter – Yahoo Finance

Published

on

Non-fungible tokens, or NFTs, have enjoyed a breakout year, with third-quarter sales delivering an absolute exclamation point at $10.7 billion.
And yet, despite that eightfold increase from $1.2 billion in the second quarter, NFTs are just getting started if you believe advocates who predict use cases for the technology are about to stretch into new industries far beyond digital art.
The fashion industry is providing the latest mind-bending example of just that. Fashion juggernauts, like Dolce & Gabbana, have recently started experimenting with wearable, digital collectibles that are attracting astronomical prices. At a recent auction, a combination sale including a jeweled physical crown coupled with a digital NFT version sold for more than $1 million. Accompanying custom-made digitally wearable Dolce & Gabbana jackets also attracted more than $300,000 apiece in ethereum.
🎉 UNXD and @DolceGabbana are proud to announce that The Doge Crown from the Collezione Genesi NFT collection sold for 423.5 ETH, or $1.275 million. In total, the collection sold for 1,885.719 ETH, or $5.65 million. Historic. Much more to come. 🚀https://t.co/anWLJ309Qs pic.twitter.com/gZ8CA0Wtym
— UNXD (@UNXD_NFT) September 30, 2021
Megan Kaspar, one of the members of the Red DAO group behind the winning bids for the items, explained to Yahoo Finance that the opportunity in digital fashion poses groundbreaking potential if AR technology can come to replace the need for physical clothes.
“The fashion industry alone is $2.7 trillion and we foresee that at least doubling over the next two decades because of digital fashion,” Kaspar said as she donned gold digital earrings during a Zoom video interview. “Digital fashion wearables give a new utility to fashion in general and it takes fashion to a sustainability level where all of the fashion that you're wearing, kind of like the earrings that I have on in the digital world, are not produced physically.”
That same promise has equally intrigued fashion companies looking to forgo the raw material and labor costs associated with producing physical clothing. It may seem like a far-off impossibility, but designers beyond Dolce & Gabbana are already experimenting by offering such wares right now.
1/
We’re still amped on last week’s historic UNXD x @DolceGabbana debut NFT drop, which sold for 1,885.719 ETH, making it the most successful digital fashion drop ever. There’s much, much more to come. Here, we recap the special collectors who now join the #DGFamily. 👇 pic.twitter.com/hcIJtD2OTn
— UNXD (@UNXD_NFT) October 4, 2021
DressX, a digital wearable marketplace startup that works with designers to offer 3D, AR garments, has already attracted millions in total backing from investors like Kaspar, despite only launching last year. The company boasts an app to let users “try on” different digital garments and has partnered with retail platform FARFETCH to let influencers promote digitized garments from the latest collections of Off-White, Balenciaga, Dolce & Gabbana, and others. DressX co-founder Natalia Modenova forecasts that while wearable NFTs for characters in games and digital worlds could also prove lucrative, even our current work-from-home life sets up nicely to use wearable NFT fashion today.
“The other use cases will follow and they are already popping up when you could wear some of the items in the gaming environment and virtual world, but it is way more limited,” she said. “We all have our own bodies and we don't need any kind of avatars to appear on the screen. We all have some kind of device which will help us show ourselves on the screen and that is why it opens up the biggest market and the biggest opportunity.”
Only time will tell if fashion NFTs enjoy an even hotter start than that of other digital collectible categories in 2021. Dapper Labs, the parent company behind NBA Top Shot, which sparked a frenzy of digital highlight collectibles and more than $700 million in sales activity, is planning to launch an NFL version soon. That alone could help provide a boost for a back-to-back NFT quarterly sales record.
Zack Guzman is an anchor for Yahoo Finance Live as well as a senior writer covering crypto, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.
Read the latest cryptocurrency and bitcoin news from Yahoo Finance
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.
Former 'Dancing With the Stars' judge and pro Julianne Hough proved she's the queen of fashion in her latest Instagram posts.
As cinemas continue to struggle, AMC Entertainment wants to sell its popcorn outside the theaters. The world’s biggest movie theater chain said Thursday it will begin selling its popcorn at malls, supermarkets, and convenience stores in the US next year, both as a freshly popped option and in microwaveable packages. With pandemic changing up consumer habits, the movie theater company will also start selling fresh popcorn for takeout, pickup, and delivery—ways of retrieving food that have boomed during the pandemic.
“Eternals,” one of Marvel's most ambitious efforts to expand its superhero universe, arrived in theaters with about $71 million in ticket sales over the weekend, according to studio estimates.
'9-1-1' star Jennifer Love Hewitt posted a new Instagram of her husband, Brian Hallisay.
At least eight people were killed during a crowd surge at Travis Scott’s Astroworld Festival in Houston. Scott’s performances are known for being chaotic, with concertgoers encouraged to take part in things like mosh pits.
Marilia Mendonça has died in a plane crash at the age of 26. She was traveling to a concert at the time of the crash, which killed four other people.
Why Mark Zuckerberg is trying to teleport away from Facebook's problems
“No Time to Die,” the latest entry in the James Bond series, will be available to rent for $19.99 on digital platforms in the U.S. starting on Tuesday. An MGM representative confirmed the news to Variety. The 007 blockbuster will be available on all major platforms, including Amazon, Apple, Xfinity, DirecTV, Spectrum and Vudu. The […]
On Saturday night, Billie Eilish married goth to glamour and wore a textured all-black look to the LACMA Art+Film Gala in Los Angeles.
The metaverse poses many of the same challenges for parents as online video games, only much more so.
“Eternals,” one of Marvel’s most ambitious efforts to expand its superhero universe, arrived in theaters over the weekend with an estimated $71 million in ticket sales.
On Friday, Hailey Bieber stepped out in Los Angeles in an outfit featuring a Coach style cardigan, short shorts and Ugg boots with a front zipper.
I had no idea the Pitch Perfect cast was so close!View Entire Post ›
"MLMs are the worst."View Entire Post ›
‘I thought it was fascinating to hold that position as a young woman,’ comedian said
This whole metaverse thing hasn’t turned out exactly the way Seattle novelist Neal Stephenson thought it would when he came up with the idea 30 years ago. Back then, Stephenson was getting ready to write his breakout science-fiction novel, “Snow Crash.” He was musing about how expensive it was to buy the equipment for a computer art project he was working on, as opposed to how inexpensive it was to buy a television set and watch state-of-the-art programming. What would it take to make computer e
FOX 26's Denise Middleton spoke with an ICU nurse who was in attendance during the Astroworld music festival and assisted first responders at the concert, where eight people died and several other members of the crowd were injured.
Warning: There's about to be a lot of howling.View Entire Post ›
Almost all these movies had WAY darker endings.View Entire Post ›
The Puerto Rican singer's new relationship comes about after Mia Khalifa announced she and ex-husband Robert Sandberg split in July

source

NFT

Wafini NFT Marketplace Set To Launch On Cardano, Kicks Off Seed Token Sale To Early Adopters – GlobeNewswire

Published

on

| Source: Wafini Wafini
VALLETTA, MALTA
Valletta, Malta, Oct. 04, 2022 (GLOBE NEWSWIRE) — Wafini, a Cardano NFT marketplace on a mission to facilitate a “DAO Powered NFT Marketplace on Cardano” has kicked off the initial seed round for early adopters.

As DeFi, GameFi and NFT projects are now leaning towards being run as a DAO, which in recent times have risen to become the perfect governance structure for Web3 projects, Wafini has announced that the $WFI token holders will have the benefits of governance DAO structures on Wafini and will be utilized in an easy to use interface.
The Wafini marketplace is set to launch within the fourth quarter of 2022.
This will come after the Wafini’s test-net that will be made available only to $WFI Token and Wafini Genesis NFT policy ID holders.
Wafini Seed Sale
Wafini team announced today that the Wafini utility tokens are now available to early adopters. 
Early adopters can join the $WFI Token Seed Sale here: https://sale.wafini.app/
To become a member of Wafini DAO, each participant has to acquire and stake $WFI Tokens and Wafini Genesis Passport NFTs
How To Join The $WFI Seed Sale 
You can join the Wafini seed sale in 3 simple steps.
1: Buy ADA from an Exchange like Binance, Kraken, Coinbase and transfer to your ADA Cardano Compatible wallet like Nami Wallet, Eternl or Flint wallet.
2: Visit the Wafini token sale page and input the amount of ADA you want to join with and continue to sign the transaction to confirm your purchase.
3: Your purchased $WFI Tokens will be sent your wallet as soon as the transaction is conformed on the blockchain.
Here’s a detailed and pictorial guide on how to join the Wafini seed sale.
Wafini Seed Sale Details 
1 ADA = 50 $WFI Tokens
1 $WFI = 0.025 ADA
Duration = 30 Days
Seed  Sale Allocation: 15,000,000 $WFI Tokens
Minimum buy: 500 ADA

For further details on the Wafini Token Sale visit the documentation page.
About Wafini
Wafini is a Web 3.0 community driven decentralized NFT Marketplace for Non-Fungible Tokens & NFT collectibles where users will be able to mint, list, sell and swap their Non fungible tokens utilizing the Cardano Blockchain.
Buy $WFI Token: https://sale.wafini.app
Litepaperhttps://docs.wafini.app/litepaper
Website :  https://wafini.app/
Pitch Deck: Seed Deck
Twitter : https://twitter.com/wafini_app
Telegram Group : https://t.me/wafini
Media Contact:

Name: Vincent Kowalski
vk (at) wafini.app
Website :  https://wafini.app/

source

Continue Reading

NFT

4 Steps to Take Before Buying Your First NFT – The Motley Fool

Published

on

If you’re on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Credit Cards
Banks
Brokers
Crypto
Mortgages
Insurances
Loans
Small Business
Knowledge
by Emma Newbery | Published on March 26, 2022
Image source: Getty Images
Read this before dipping your toes into the NFT waters.
The Ascent's best crypto apps for 2022 (Bonuses, $0 commissions, and more)
At the start of 2021, most people hadn’t heard of the word non-fungible token (NFT) and fewer still had any idea of what it meant. By the end of the year, Collins Dictionary had declared NFT its word of the year, and the market was worth an estimated $40 billion.
If you’re considering buying your first NFT, there’s a lot to think about. Here are four important steps to take first.
NFTs are essentially digital certificates of ownership, and those certificates can apply to a broad range of things. These include art, music, videos, sports collectibles, gaming items, and much more. You need to be clear on what type of NFT you’ll buy, and why you’re buying it.

Discover: Best places to buy bitcoin
More: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus
If you’re buying an NFT because everybody’s talking about them, you may need to dig a little deeper. Otherwise it’s a bit like buying a book because you want to own a book, with no care as to who wrote it or what’s inside it. Choosing an NFT should depend on your own personal interests, and there are big differences between NFT sectors.
For example, perhaps you’re a gamer and want to buy an NFT avatar. You’ll have very different needs from a big basketball fan who wants to own an NFT of a favorite sporting moment. And someone who’s an art collector considering branching into digital art will also have different requirements again.
Every investment is different, but the fundamentals of investing are often the same. You need to understand what you’re buying — whether it’s a piece of art, shares in a company, cryptocurrency, or your first NFT.

Our top crypto play isn’t a token – Here’s why

We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.

Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.

Get started

We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.
Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.
Here are some aspects of NFTs to get to grips with:
You’ll probably come across several NFT marketplaces during your research. These are platforms where you can create, buy, sell, and explore NFTs. First and foremost, look for a platform that trades the types of NFTs you want to buy.
Also consider what blockchain network is used — as we mentioned above, Ethereum is the most common but Solana (SOL) and Tezos (XTZ) are also getting in on the NFT game. This is important because it’s difficult to buy NFTs using traditional money such as U.S. dollars. Not only do you need to own cryptocurrency, you need to own the right cryptocurrency.
Given the prevalence of NFT fraud, look at what each platform does to ensure the NFT you buy is properly authenticated. You don’t want to buy your first NFT only to find it’s not legit and the original artist didn’t even know it had been made.
Finally, you’ll need an NFT wallet. These are crypto wallets that also support NFTs. It’s easy to set up a wallet, and there’s plenty of useful information online to help if you get stuck. When you first create your account, you’ll be given a kind of master password in the form of something called a seed phrase. Keep it somewhere safe, as this will help you access your NFTs if you ever forget your password.
You’ll need a wallet that’s compatible with the trading platform and blockchain network you chose above. Another key feature to watch out for is security — two factor authentication is a must. If you become a frequent NFT shopper, you might consider a hardware wallet that keeps your NFTs offline. But to start, a software wallet connected to the internet will do the job.
We don’t know how the NFT sector will evolve, but these assets could change the way we own items online. However, there are a lot of issues to address, including the environmental cost and copyright infringements. Right now, the best way to approach NFTs is to pursue your existing interests. This will help you judge the quality and value of the items you buy.
Be aware that there’s a lot of speculation, hype, and outright scams in the NFT world. There are no guarantees that NFT prices will continue to rise, in fact, many may fall. That’s why it’s best to only spend money you can afford to lose. If prices fall, it won’t prove financially devastating. Most of all, take your time and enjoy learning about a new world of digital ownership.
Emma owns the English-language newspaper The Bogota Post. She began her editorial career at a financial website in the U.K. over 20 years ago and has been contributing to The Ascent since 2019.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Emma Newbery owns Ethereum, Solana, and Tezos. The Motley Fool owns shares of and recommends Bitcoin.
Featured Offer
100% Commission Free Crypto Trading – 4.5 Star Rating
Related Articles
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 – 2022 The Ascent. All rights reserved.

source

Continue Reading

NFT

How to Determine the Value of an NFT Before Investing – MUO – MakeUseOf

Published

on

When it comes to NFTs, there are a few ways to figure out if you should invest or not.
Like in the stock, forex, and crypto markets, where there are yardsticks to evaluate the strength of assets, there are metrics you can use to rate the worth and potential value of an NFT before investing in it. Four of these metrics will be explained in this article, along with some benefits and risks you should be aware of before investing in an NFT.
NFTs can be pretty valuable in a couple of ways. Apart from being investment instruments with high-profit potential, they are also used to establish identity, community, and ownership. Some people buy NFTs to support artists, and often, the artists earn more from this since they profit directly from their works without any intermediary.
As a new form of collectible, they are digital upgrades to items like comic books, arts, posters, sports cards, etc., attracting many to buy NFTs not because of any monetary gain they expect from them but because of the other values they have. Sometimes the value could be in the form of exclusive access to events, for gaming purposes, and some just buy it for the novelty of it.
For investors, NFTs have also become a profit-making technology (even though only a few people have become rich by getting involved in NFTs!).
One question you might then ask is how to spot which NFTs have the potential to offer you financial value and the ones to skip for investment purposes.
Below are four factors you should consider when trying to invest in an NFT.
NFT rarity will determine its value. For example, a rare NFT can be a first-of-its-kind piece of digital art by an illustrator; some NFTs made by celebrities also fall into the category of a rare NFT.
An example of an NFT that falls into this category is a project by Mike Winkelmann (aka Beeple) named "Everydays: The First 5000 Days." It's been called an "accumulative piece" because it's made up of 5,000 images, one for each day since May 2007, a total of 13 years. Speaking to Artnet, Metakovan and Twobadour, NFT collectors from Singapore, said they bought the piece because they believe it "is going to be a billion-dollar piece someday."
This covers how an NFT is used in the physical or digital world. In addition to being unique digital assets, certain non-fungible tokens also serve other purposes. Some NFTs, for example, give the owner rights and benefits they otherwise wouldn't have.
The Bored Ape Yacht Club started as a set of NFT images, but now they are tickets to special events and give rewards to their owners, such as the ability to print new NFTs. Many NFTs are also used in games, and they are valued differently based on the functions they play.
The ease with which an NFT can be bought or sold within its network refers to its liquidity. Investors like to invest in liquid NFTs (those with significant trading volumes) since the risk of holding them is reduced. ERC-standard NFTs are instantly tradable across a wide variety of exchanges. The ease of trade adds to the value of such NFTs.
The people and projects behind an NFT can stir up speculation, which can affect the growth and price of the NFT. In addition to who the creator is, the caliber of the people who have owned a certain NFT also affects its value. For example, NFTs owned by people of high social standing or celebrities usually have a high value. This way, we can also say that an NFT's price can be increased by affiliating it with a strong brand or famous figure.
If you choose to invest in NFTs, you should also be aware of some of the benefits of investing in them.
There are endless possibilities in the NFT space as they can be used for almost any project. Moreover, the use cases are also increasing steadily, making the future of NFT promising.
Another reason NFT investment might be a good idea is that they are accessible to everyone; it is not for any selected group of people. It is also easily transferable from one person or place to another. With this, there is an expectation that the technology will continue to grow more popular.
Investing in NFTs offers another way to diversify your portfolio, thereby reducing your overall risk. Even within the NFT space, there are different categories of assets you can invest in. Just make sure you do your research well before settling for any asset.
Ownership of NFT is secured through blockchain technology. This feature also helps to fractionalize ownership of assets. It is easier to divide ownership among several owners while everyone has a secured irreplicable record of their shares. Blockchain makes all records and transactions transparent, making trades more straightforward with less chance of fraudulence.
Since all NFT transactions are recorded in a blockchain, the data cannot be changed or tampered with, making NFTs easier to authenticate than physical assets. If you are buying a piece of art from an online store, you might not be able to know if you are getting the original or a copy. However, when buying an NFT, you can check the blockchain to validate the authenticity of the piece of art before paying for it.
Investing in NFTs is also not without certain risks. These concerns are issues that may hinder the growth of NFTs in the future.
Most NFTs are supported by the Ethereum network, which uses the proof of work (PoW) consensus method (although Ethereum is set to switch to proof of stake). The PoW consensus process takes a lot of energy to record and confirm transactions. To mint a single NFT, heaps of electricity is needed. Concerns have been raised that this could negatively affect the environment.
NFTs are very volatile, and the prices change rapidly, making it a little challenging to predict the future value of an NFT. You can lose your money if the NFT you buy doesn't retain its value.
NFT tech is still in its infant state and isn't very liquid. Many people still don't know what NFTs are, which makes it hard to trade because there aren't as many buyers and sellers. Furthermore, as you'll read below, their association with fraudulent activities harms their image.
NFTs can also be used to carry out fraudulent activities. There is no doubt that the integrity of blockchain is unquestionable. However, there have been cases of the sale of properties as NFTs without the consent of the real owners, violating the essence of using NFTs to sell properties. Several other NFT scams have been done, and this makes it necessary to be careful when trying to buy an NFT.
It cannot be overemphasized that, as much as there are advantages to investing in an NFT, there are also risks to it. You should not just invest in an NFT because it is an NFT. Rather, you should assess it to see if it has the potential to be more valuable in the future.
We understand that the NFT world is rapidly growing, and many things are bound to change. In this light, you should open your mind up to the possibilities while also being careful in the NFT space.
Temitope holds a B.A. and M.A. in linguistics. He started trading forex five years ago, and not long after that, he picked up interest in the crypto and blockchain systems. He has been a writer since 2019, and his experience in the Fintech industry has inspired most of his articles. When Temitope is not writing, he takes his time to learn new things and also loves to visit new places.
Join our newsletter for tech tips, reviews, free ebooks, and exclusive deals!

source

Continue Reading

Trending

Copyright © Diaily Meta News