Connect with us

NFT

5 NFT trends that will bring social media audiences into web3 – TechCrunch

Published

on

As the debates on Twitter rage on, most tech founders and VCs have by now chosen a side: Web 2.0 or web3.
Proponents of web3 believe it is the future of the internet, and that blockchain-based products will completely supplant Web 2.0 within the next few years.
Web 2.0 stalwarts say it’s all just a bunch of hype being spewed by crypto bros looking to turn a profit, and that blockchain technologies are fundamentally limited in scope.
As a founder who has been building Web 2.0 apps for over a decade, and investing in crypto for nearly as long, I believe the most exciting opportunity lies at the intersection of these two worlds.
The true mass-market potential of blockchain will be unlocked with the merger of Web 2.0 and web3.
It’s tempting to look at the energy, talent and resources being poured into web3 and harken back to the early days of the internet. For those of us who have been around Silicon Valley long enough to remember, the similarities are undeniable.
Except this time, the rate of growth seems exponentially higher. Web3 pundits point to these facts to support the argument that web3 is the future of the internet, and that Web 2.0 will soon be dead.
But there is one important distinction between the early days of the internet and today: Before Web 1.0, there was no internet. We all lived analog lives. When the internet came along, it was competing against a relatively boring existence. Free porn, chat rooms, gaming, music, email, videos, the world’s information at your fingertips versus … a sleepy Saturday trip to Blockbuster. It was never a fair fight.

I spent $2,000 on a pair of sneakers I know I will never wear, because they exist only as an NFT. Is it any less crazy than the money I previously spent on toe-crushing stilettos?

Web3 is entering a different arena. People today are addicted to digital products with a very strong pull. You’re not going to get the average consumer to stop scrolling TikTok because they want to help usher in an era of decentralization, support the creator economy or battle inflation. They don’t care. And they can’t afford a BAYC or a cryptopunk.
What the average internet user does care about is how they appear and present themselves on social media. That’s the bridge. The key to this bridge will be NFTs.
Here are 5 NFT trends that will bring social media audiences into web3 en masse:
Skeptics are quick to point out that NFTs are dumb because you can simply right-click and save the underlying files. This is a temporary problem. In the near future, all major social platforms will implement NFT verification, allowing you to connect your wallets and display your verified NFTs on your profile. In parallel, fingerprinting technology will allow platforms to easily detect stolen files and take them down.
Once TikTok users can display and use their unique, verified NFTs in their posts, the game completely changes, because the social value of purchasing and broadcasting NFTs increases exponentially.
As sidechains like Polygon become increasingly prevalent, NFT prices will come down. Near-zero gas fees will also enable developers to build more interactivity and composability into NFTs, making them inherently more social.
Imagine Pokémon Go on the blockchain, where each Pokémon is an NFT that can be traded or sold. Every Pokémon you acquire has unique traits, and you uniquely impact how it evolves with the location-based achievements you unlock. As a Pokémon levels up, its powers get updated on-chain. As you progress in the game, you earn crypto tokens, which have value outside of the game. Fun!
The NFT mania of 2021 was largely focused on visual art, but the next frontier, and one that I believe will ultimately be much bigger, is music. Whether it’s collecting physical art or NFTs, the impulses driving a collector’s behavior are the same: the desire to express one’s artistic tastes to peers; the desire to express one’s identity, either individual or group; and, in some cases, the desire to turn a profit.
Although there has been plenty of speculative frenzy behind the initial NFT craze, I think the impulses around self-expression and identity are the more fundamental drivers of art collection. And one of the most prevalent ways in which people express their tastes and identity is through music.
TikTok started as a music video app, and music tracks remain a core component of videos shared on the platform today. But the music available today is common. Everyone has access to the same songs.
Imagine your favorite artist releases a unique 60-second music track with a limited number available as NFTs. You purchase one and make a cool TikTok out of it. It goes viral. Millions of people suddenly want that song to make their own TikTok. But there are only 100 copies available anywhere. You get daily offers from people who want to buy the song from you, and you can decide if you want to flip it or keep it for yourself. Fun!
At the dawn of the Web 2.0 era, when I was in my 20s, I would spend nearly all my disposable monthly income on fashion. Fancy jeans, stilettos, sunglasses and handbags — my appetite for nice things to wear was insatiable.
But as the majority of my social interactions shifted online over the past decade, my spending on clothing has dwindled. All I really want these days, other than exercise gear, is a handful of colorful tops for Zooms. Buying fancy clothes has lost its fun.
But the other day, I did something surprising. I spent $2,000 on a pair of sneakers I know I will never wear. I can’t wear them, because they exist only as an NFT. It’s difficult for me to explain to someone who hasn’t fallen down the crypto rabbit hole why I made this purchase, and I realize it probably seems crazy. But is it any less crazy than the money I previously spent on toe-crushing stilettos?
Wearables are about to usher in an era of massive spending on digital goods that social media audiences will use to primp and preen their digital selves. Although most existing wearables activity in the NFT space is tied to gaming and avatars, the killer use case that will help transition large audiences into the metaverse will be AR filters.
Imagine that Kim Kardashian launches custom AR filters — facelifts, lip fillers, makeup, hair, dresses, jewelry — and each one is unique. If you buy one, you can exclusively don that look in your TikTok videos for as long as you want, and then you can sell it when you get bored. Add me to your whitelist, Kim!
OK, I get it. You cannot, for the life of you, imagine why anyone would change their profile pic to a hideous ape. I have to admit, I own a Bored Ape. But I can’t bring myself to make it my profile pic either. I chose a World of Women instead. Why did I swap a professional headshot of myself for an algorithmically generated cartoon image that only vaguely resembles me? It was fun. It allowed me to express a side of my personality I would have trouble capturing in a photograph.
But my profile pic is already starting to feel a little stale. I wish it weren’t so … static.
Dynamism, personalization and movement are coming to NFT avatars. Imagine you take a selfie, and an AI generates a unique, custom 3D avatar that looks like your ideal version of you. Like Bitmoji, but better. You can update the character’s expressions and poses, clothing and accessories; you can make it dance; you can make it say things in your own voice, just by typing. Think of how much easier it would be to create engaging TikTok posts where you feel good about how you come across. You could spend less time perfecting your acting and filming skills, and more time on the message you’re trying to convey.
Dynamic avatars will be an opportunity to democratize self-expression on social media and will give voice to a much larger audience of creators.
When Facebook first started, it was kind of dumb, but it was fun. When you logged on every few days, you would be reminded of your real friend’s birthdays, see their latest cheesy profile pics and poke them. Then came the feed, mobile phones and algorithms, Instagram models, lattes and perfectly filtered lives, and somewhere along the way, the fun was subsumed by a kind of social slavery. We keep scrolling through posts of people we barely know that make us feel bad, and we keep posting obnoxious things in return. Surely this is not how it all ends?
When Zuckerberg unveiled his vision for Meta, you could feel the collective eye roll. You’ve already ruined our lives with social media, we wanted to scream, and now you’re going to kill our last remnants of physical connection and turn us into vegetables living in the Matrix.
But the thing is, whatever the pros and cons, we are already on an inexorable march toward the metaverse. We are increasingly living virtual lives. What web3 enables is a richer experience in that virtual existence. One that will hopefully feel a little less hollow, a little more human.
I look forward to a future where NFTs, along with all the other promises of web3, help us create a virtual reality where human interaction is, once again, fun.

source

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

NFT

Asia’s largest Web3 event Token2049 exclusively unveils NFT assets valued over $100 million – Cointelegraph

Published

on

Token2049, Asia’s premier crypto conference, announced that it will be showcasing a first-of-its-kind, immersive NFT experience, titled the Op3n Whale NFT Exhibition, at its upcoming Singapore edition from Sept. 28 to 29. The exhibition will be presenting NFT assets with a market value exceeding $100 million. This will be the first time such a collection owned by a single entity has ever been on display to the public. 
The exhibition was developed by Op3n, a launchpad for IP and communities in Web3, and Whale, the omniversal membership club with a treasury that includes the world’s largest collection of rare, high-value NFTs spanning gaming, art and virtual real estate.
Raphael Strauch, founder of Token2049, said: “Today’s Web3 ecosystem reflects the exciting creativity and innovation being brought by a myriad of industries by way of their growing interest in NFTs — and so much of this is taking place in Asia. We have an exciting program for our attendees, and this exhibition is just one part.”
Showcasing creatives, brands and curators from the region that exemplify the global dynamic of East meets West, the exhibition will make its exclusive debut at Asia’s largest Web3 event and Token2049’s largest-ever conference in its history. An estimated 7,000 visitors are expected to attend.
The exhibition includes artworks by renowned digital artist Pak, famed for spearheading Sotheby’s first-ever NFT sale; leading glitch artist Xcopy; Milanese artist duo Hackatao; and award-winning Asian-American photographer Michael Yamashita.
Token2049 Singapore will also feature a rotating display of generative art masterpieces from MoMa’s permanent collection artist Brendan Dawes and Instagram photography sensation Ryosuke Kosuge. These works will be displayed at Whale’s solo booth at the conference. 
Renowned NFT collector and Whale founder WhaleShark said: “Nonfungible technology has ignited a global digital renaissance of art and culture, and the ability to partner with Token2049 and Op3n to showcase some of the earliest and most renowned pioneers of this sector is truly an honor. The exhibition puts the spotlight on this inevitable revolution of the arts with a focus on a time-tested creative industry, rather than the flavor of the month.”
In addition, attendees will be able to see Op3n’s latest NFT drop “A3,” developed by YOON and VERBAL who are behind the iconic Tokyo-based fashion brand Ambush. The iconic phygital “A3” NFT will be uniquely presented in a glass display case on the exhibition floor. 
“Art, culture and technology are intersecting in exciting and completely new ways, with many industry-firsts taking place around the globe,” said Jaeson Ma, co-CEO and founder of Op3n, the world’s preeminent contemporary NFT experience brand. “From digital creators and traditional artists to fashion brands such as Ambush who have been expanding their presence in the NFT space, we’re bringing together an incredible pool of talent to celebrate and honor their work.”
Ma will also be speaking for a panel on the future of IP and communities in Web3 on Sept. 29 at 2:45 pm along with Verbal, who will speak more about “A3” in detail.
Token2049 Singapore’s agenda will be featuring a series of discussions touching on the latest developments in the Web3 ecosystem — from the global macro narrative for crypto, the rise of Web3 gaming, the emerging social and creator economy, the future of AI and generative art, present and future Web3 infrastructure and much more. 
As part of Asia Crypto Week, Token2049 attendees can expect to attend a full line-up of side events, conferences, networking events, workshops and parties taking place throughout the week. 
Visit the site for more information and continued updates on Token2049 Singapore. 
Token2049 is a premier Web3 event, organized annually in Singapore and London, where decision-makers in the global crypto ecosystem connect to exchange ideas, network and shape the industry. Token2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors and those with a strong interest in the crypto and blockchain industry.
Founded in 2021 as a subsidiary of EST Media Holdings, Op3n imagines a world where communities can come together to create, own and bring their ideas to the world. Op3n’s mission is to be a launchpad for ideas and communities to create meaningful experiences together. By consolidating the tools needed to mint, share and engage with NFTs and digital tokens into one vertical stack, Op3n leverages its cross-industry expertise from the entertainment, gaming and tech ecosystems to lay the foundations for a new era of community-driven, inclusive entertainment while bringing everyone together on a journey into Web3. 
Media Contact 
Melissa Esguerra

source

Continue Reading

Trending

Copyright © Diaily Meta News