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Blockchain enthusiasts have been finding clever ways to allow NFT enthusiasts to take advantage of the mania surrounding digital art.
NFT indices have been gaining prominence on several exchanges in Canada and the UK.
Crypto businesses underpinning the NFT craze are receiving sky high valuations, some well into the billions.
The celebrity stardust sprinkled over the non-fungible token [NFT] world has certainly added to its appeal, but if you ve only got a few hundred dollars to spare, a direct purchase of digital art may not be the best way into this booming market.
Genies Unveils PAC-MAN Wearable NFT for the Game s 41st Birthday hypebeast.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hypebeast.com Daily Mail and Mail on Sunday newspapers.
Why NFTs? Ayzenberg’s VP Of Digital Explains
Imagine having a deed to a coveted work of art or a one-of-a-kind baseball card that can’t be forged, duplicated or lost because it exists in a permanent database. This kind of deed exists. It’s called an NFT, which stands for non-fungible token, and it’s creating a frenzy in the digital world.
By definition, an NFT is a digital certificate of authenticity for a real or virtual object. This digital file is stored on a digital ledger, also known as a blockchain network, that certifies it to be unique and interchangeable. So, what’s all the hype about these tokens? Basically, NFTs create digital scarcity, enabling people to acquire and then flaunt collectibles or certain assets. They give people the power to say, “Hey, I own this and it’s the only one like it in the world.” Needless to say, NFTs as technology are a really smart idea and definitely have a future in a world that’s increasingly being dominated by tech and th
Digital avatar startup Genies raises $65M from Bond, Dapper Labs and Coinbase
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A startup that lets people bring their own virtual selves to life, Genies Inc., today announced $65 million in funding to expand its virtual identity marketplace and digital swag.
With this new capital, Genies seeks to build out its avatar technology and hook into the wave of interest in non-fungible tokens. NFTs allow people to use distributed ledger blockchain technology to own, buy, sell and trade digital artwork objects on marketplaces.
To do this, the Genie avatar system will continue to build out its own digital goods marketplace on Dapper Labs’ Flow – a blockchain platform built for apps, games and the digital assets that power them.