Nfts

How have NFTs opened up new business opportunities?

Published

7 months ago

8 July, 2024

How have NFTs opened up new business opportunities?

Exploring the frontiers of business innovation, we gathered insights from founders and CEOs on the impact of NFTs across various industries. From monetizing user-generated content to transforming business models with digital collectibles, here are eight key perspectives on how NFTs are creating new opportunities in unexpected sectors.

Revolutionizing event ticketing with NFTs
Innovative animal rescue via NFT framework
Virtual Real Estate and Digital Diplomas
Expanding the reach of art through blockchain
Democratizing Art Sales and Copyright
Negotiating Virtual Land in Digital Real Estate
NFTs in Home Design and Virtual Properties
Digital collectibles are transforming business models

Revolutionizing event ticketing with NFTs

NFTs have revolutionized the event ticketing industry in ways no one anticipated. Traditional ticketing still faces counterfeiting and resale issues. NFTs bring a level of security and transparency that significantly reduces these issues. Each ticket is unique, transparent, and easily verifiable on the blockchain. This ensures authenticity and allows ownership history to be tracked, eliminating counterfeits.

NFTs aren’t just about security, they’re also about fan engagement. Event organizers can embed additional content directly into NFT tickets, like exclusive videos, backstage passes, or collectibles. Fans now get more than just entry to an event—they get an experience. This added value can make events more engaging, increase revenue, and strengthen community connections.

Marie Tung

Founder and CEO, Lido.app

Innovative animal rescue via NFT framework

NFTs are not just graphic images that cause epilepsy and raise blood pressure. I think a lot of people make this 1:1 association between the two, and that’s a fallacy. It’s the underlying non-fungible framework that matters, and there are many ways to use it.

For example, NFTs could be used to rescue animals from animal shelters by creating and marketing an animal rescue marketplace, where each animal is an NFT (using a collar solution or possibly an NFC chip, which would require more thought). Setting up a donation wallet for each animal and the shelter as a whole could produce interesting results for fundraising.

Instead of trading pictures of monkeys, we can raise awareness for certain sectors that are in dire need of marketing but have very little budget (like animal shelters).

Mike Bonadio

Owner, Mike Bonadio Consulting

Virtual Real Estate and Digital Diplomas

NFTs have opened up new and innovative possibilities for themselves and their industries in unexpected ways. One of the most famous examples is land and virtual assets being bought and sold as NFTs, an early but still quite revolutionary application of the technology. Real estate in virtual worlds such as Decentraland and Cryptovoxels is being created and sold, giving rise to a new form of digital real estate investment.

Similarly, universities and educational institutions are experimenting with using NFTs to issue tamper-proof digital degrees and certificates, such as the French state’s high school diplomas. A US university is issuing an NFT with one of its English poetry programs. Even publishers are using NFTs to release limited editions of digital books and manuscripts, creating new revenue streams for authors, contributors, and collectors with unique digital assets.

Mark McShane

Founder, Cupid Digital PR

Expanding the reach of art through blockchain

The potential of blockchain technology is fascinating. It works 24/7, regardless of age or gender, and everyone has an equal chance to participate and create something meaningful. NFTs have revolutionized the art world, using them as a means of expansion, allowing them to connect to a wider audience.

From art to entertainment, gaming, real estate, and identity verification, NFTs have the potential to completely transform various industries. They offer a versatile solution to represent ownership and authority in the digital space. Here are some examples of how NFTs have made their way into fields introducing innovative uses:

CryptoOracle and CryptoMondays have deployed the use of NFTs using NFTVIP’s immersive authentication system. NFT-VIP.io has transformed ticketing by using NFTs as tickets, providing authenticity, security, and a unique experience to attendees. These digital tickets come with perks such as content, merchandise, or access to exclusive events, enhancing the overall user experience.

In the healthcare field, the use of NFTs is being explored for the management of patient records and data. Through the tokenization of information, patients can control their data while ensuring confidentiality and secure sharing with healthcare providers.

Charitable initiatives are using NFTs for fundraising purposes by auctioning assets. This strategy attracts donors while providing a way to monitor contributions.

Educational institutions use NFTs to issue degrees and certificates. NFTs provide individuals with a verifiable method to demonstrate their skills and achievements.

NFTs are now being used to digitize real estate, enabling home ownership and smoother transactions. This method can streamline the processes of buying, selling, and investing in real estate, making it more accessible to a wider audience.

The intellectual property and legal field is exploring the use of NFTs to manage intellectual property rights and legal agreements. By tokenizing intellectual property assets, creators can effectively protect their rights through transfer or licensing options.

These examples show how NFTs are crossing boundaries by finding applications in sectors that may seem unexpected. The possibilities and applications of NFTs are expanding as various sectors explore their potential.

Julie Lamb

Events Manager, CryptoOracle Collective

Democratizing Art Sales and Copyright

NFTs have radically transformed the traditional art market by giving artists a new way to monetize their work. What makes this innovation so revolutionary is how it overcomes many long-standing obstacles in the art world. Artists no longer need to rely solely on galleries or auction houses to sell their work. Instead, they can put their work directly on NFT platforms, reaching a global audience in minutes.

This development not only democratizes access for artists and buyers, but also introduces smart contracts. These smart contracts ensure that artists continue to receive royalties every time their digital work is resold. This feature provides artists with a continuous revenue stream, something previously unheard of in traditional art transactions. For artists who have often faced financial uncertainty, NFTs represent a revolutionary opportunity to build a more sustainable and rewarding career.

Casey Meraz

Owner and digital marketing expert, Casey Meraz

Negotiating Virtual Land in Digital Real Estate

One unexpected sector benefiting from NFTs is real estate, particularly in the realm of virtual property. Platforms like Decentraland and The Sandbox allow users to buy, sell, and trade virtual land and properties using NFTs. These virtual spaces are becoming valuable assets, with some properties selling for hundreds of thousands of dollars.

Businesses are also using these virtual properties to advertise, host events, and create brand experiences. The concept of owning and trading virtual real estate has introduced new business models and opportunities, expanding the traditional understanding of real estate ownership and investment.

Alari Aho

CEO and Founder, Toggl Inc.

NFTs in Home Design and Virtual Properties

We have seen the integration of NFTs into the interior design and decoration industry. Designers and artists are now creating unique digital artworks and virtual furniture that can be purchased as NFTs and displayed in individuals’ digital living spaces. This has opened up new revenue opportunities for creatives and allowed homeowners to manage and personalize their virtual environments in innovative ways.

Another application of NFTs that we’ve seen emerge is in digital real estate. Entrepreneurs have quickly recognized the potential of NFTs to represent and sell virtual properties, often in the form of metaverse experiences or digital twins of physical homes. This has allowed property owners and developers to create additional revenue streams by offering unique, tokenized properties that can be bought, sold, and even rented within these burgeoning virtual worlds.

NFTs have also enabled entrepreneurs to explore new business models, such as fractional asset ownership, royalty-based revenue streams, and innovative financing mechanisms. These emerging opportunities have the potential to disrupt traditional industries and create new avenues for growth and innovation.

Josh Qian

COO & Co-Founder, Best Online Cabinets

Digital collectibles are transforming business models

NFTs have disrupted the business world, and one of the sectors most affected is digital collectibles. Entrepreneurs can now create unique digital items, from art to virtual trading cards, and sell them directly to consumers without a middleman. This shift has empowered artists and creators, giving them a way to monetize their work on a scale never before possible.

What’s even more intriguing is how NFTs have added a layer of authenticity and ownership to the digital realm. Buyers are given proof of ownership and scarcity, which has increased the value and demand for these digital assets. This dynamic is giving rise to new markets and business models, including virtual real estate and exclusive online communities. In short, NFTs aren’t just a trend; they’re a game changer in how we think about ownership and value in the digital age.

Cesar Cobo

Director of Operations, Webris

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Nfts

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

NFT weekly sales drop 9% to $145m, Bitcoin leads despite downturn

Non-fungible tokens, or NFTs, saw sales volume surge for the second week in a row, reaching $107 million, an increase of 8.5%.

A substantial increase in the number of NFT Buyers accompanied this growth, reaching 488,141 — a staggering increase of 89.56%.

On the other hand, the number of NFT sellers also increased by 69.8%, totaling 198,450, signaling an improved business environment and increased market engagement.

Below is a look at what happened in the NFT market over the past week.

Ethereum Maintains Leading Position While Solana and Bitcoin Follow

Blockchains by weekly NFT sales volume | Source: CryptoSlam

Over the past few weeks, Ethereum (E T H) continued to dominate the NFT market with $36.6 million in total sales, driven by 35,236 buyers, a 46.31% increase from the previous week.

Solana (GROUND) has emerged as a serious competitor, recording total revenue of $26.15 million, thanks to a substantial 114.07% increase in the number of buyers.

Bitcoin (Bitcoin) The NFT market also saw a notable surge, with total sales reaching $21.4 million, thanks to a staggering 222.29% increase in buyers.

Polygon (MATICS), which had the second best performance the previous week, saw its total sales volume drop by more than 15%, dropping it to 4th place just ahead of Immutable (IMX).

Other notable performances were achieved by Zora and Blast, which recorded the two largest percentage increases in sales volume, at 463% and 227% respectively.

Best Collections: Solana Monkey Business Shines

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million - 2 Ranking NFT collections by weekly sales volume | Source: CryptoSlam

Among the top NFT collections, Solana Monkey Business came out on top with $4.86 million in sales, an increase of 168.38%. The collection also saw a significant increase in transactions (137.34%) and buyers (130.84%).

The DMarket collection on the Mythos blockchain, which recorded $4.01 million in sales, came in a close second. Interestingly, this is the only collection among the top 5 by sales volume to see a decline in the number of transactions and buyers.

Immutable’s Gods Unchained cards also made headlines with $3.8 million in sales, an increase of 61.35%. This collection saw notable growth in both transactions (76.31%) and buyers (41.21%), a testament to the growing popularity of blockchain-based trading cards.

Best-Selling NFTs and Fan Tokens

In terms of individual sales, Ethereum’s Autoglyphs #167 led with a sale of $274,561, followed by Bitcoin’s Protoshrooms with $148,574. Other notable sales included BNB’s kNFT: Locked kUSDT and Arbitrum’s Umoja Synths, highlighting the diversity and breadth of the NFT market across different blockchains.

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million - 3 Top 5 Fan Tokens by Sales Volume

As can be seen in the table above CryptoSlamFan tokens also continued to see explosive growth, with Galatasaray’s token on the Chiliz blockchain recording a turnover of $280.5 million. This reflects an increase of 70149.47%.

FC Barcelona and Paris Saint-Germain followed with substantial sales volumes, indicating the growing popularity of sports-related NFTs.

Market consequences

The latest performance of the NFT market marks a significant turnaround, demonstrating resilience and renewed investor interest after a period of declining sales volumes.

This is the second consecutive week of improved sales, suggesting a potential upward trend. It is worth noting that this resurgence comes amid a broader recovery in the cryptocurrency market, which is currently valued at $2.55 trillion.

Major cryptocurrencies like Bitcoin, Ethereum, BNB, and Solana have all registered Prices have risen by double digits over the past week, further fueling optimism in the digital asset sector.

The correlation between rising cryptocurrency prices and the recovery of the NFT market could be an indication of strengthening investor confidence, setting a positive tone for the coming weeks.

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Nfts

APENFT’s One-Day Trading Volume Hits $16.67 Million (NFT)

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

APENFT's One-Day Trading Volume Hits $16.67 Million (NFT)

APENFT (NFT) fell 0.3% against the U.S. dollar in the 24-hour period ending at 9:00 a.m. ET on July 21. APENFT has a market cap of $8.54 million and $16.67 million worth of APENFT was traded on exchanges over the past day. Over the past week, APENFT has been trading 3.1% lower against the US Dollar. One APENFT token can now be purchased for around $0.0000 or 0.00000000 BTC on major cryptocurrency exchanges.

Here’s how other cryptocurrencies performed over the past day:

KILT Protocol (KILT) is up 1.9% against the dollar and is now trading at $0.20 or 0.00000302 BTC.
Aidi Finance (BSC) (AIDI) fell 2.2% against the dollar and is now trading at $0.0000 or 0.00000000 BTC.
Zoo Token (ZOOT) fell 2.2% against the dollar and is now trading at $0.0652 or 0.00000239 BTC.
CareCoin (CARES) fell 2.2% against the dollar and is now trading at $0.0809 or 0.00000297 BTC.
Kitty Inu (KITTY) rose 1.9% against the dollar and is now trading at $95.84 or 0.00338062 BTC.
Hokkaidu Inu (HOKK) rose 1.2% against the dollar and is now trading at $0.0004 or 0.00000001 BTC.
Jeff in Space (JEFF) fell 2.2% against the dollar and is now trading at $2.75 or 0.00010076 BTC.
Lumi Credits (LUMI) fell 0.7% against the dollar and is now trading at $0.0128 or 0.00000019 BTC.
AXIA Coin (AXC) fell 0.1% against the dollar and is now trading at $13.43 or 0.00048094 BTC.

About APENFT

APENFT launched on March 28, 2021. The total supply of APENFT is 999,990,000,000,000 tokens and its circulating supply is 19,999,800,000,000 tokens. The official website of APENFT is apenft.orgThe official APENFT Twitter account is @apenftorg and his Facebook page is accessible here.

According to CryptoCompare, “APENFT is a blockchain-based platform created by the APENFT Foundation to create, buy, sell, and trade non-fungible tokens (NFTs) on the TRON and Ethereum networks. It allows for the ownership and trading of unique digital assets such as artwork, music, videos, and more. It also provides tools for artists and creators to create and promote their own NFTs, as well as participate in community events and governance.”

APENFT Token Trading

It is not currently generally possible to purchase alternative cryptocurrencies such as APENFT directly using US dollars. Investors wishing to acquire APENFT must first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as CoinbaseGDAX or Gemini. Investors can then use their newly acquired Ethereum or Bitcoin to purchase APENFT using any of the exchanges listed above.

Receive daily news and updates from APENFT – Enter your email address below to receive a concise daily summary of the latest news and updates for APENFT and associated cryptocurrencies with FREE CryptoBeat Newsletter from MarketBeat.com.

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Nfts

Next US Vice President JD Vance Holds Bitcoin and NFTs, Expected to Boost MATIC and Algotech Post-Election

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Next US Vice President JD Vance Holds Bitcoin and NFTs, Expected to Boost MATIC and Algotech Post-Election

The blockchain technology landscape is about to transform as JD Vance, the likely next US vice president, emerges as a strong advocate for digital assets. Recent reports suggest that Vance not only holds Bitcoin (BTC) and NFTs, but is also willing to back promising blockchain initiatives like Polygon (MATIC) and Algotech (ALGT) post-elections.

JD Vance’s Cryptocurrency Investments Highlight Shift in Government Perspective

U.S. Senator JD Vance has garnered considerable attention for his recent investments in Bitcoin (BTC) and NFTs. Public records indicate that he owns between $100,000 and $250,000 worth of Bitcoin (BTC), indicating considerable interest in the success of the cryptocurrency market. This level of financial commitment from a high-profile government figure is unprecedented and underscores the growing credibility and promise of digital assets.

JD Vance’s interests extend beyond Bitcoin (BTC) to non-fungible tokens (NFTs), with reports suggesting his involvement in acquiring notable pieces from renowned collections. While the details of his NFT portfolio remain unknown, those who know the senator confirm his foray into this field.

This exploration of NFTs underscores Vance’s openness to exploring innovative and artistic applications of blockchain technology beyond cryptocurrencies’ typical role as assets or means of exchange. Vance’s involvement with cryptocurrency stands in stark contrast to the views of many of his peers in Congress, who often express doubt or hostility toward digital currency.

His direct involvement as an investor and user of these technologies gives him a unique perspective on their potential benefits and drawbacks. This practical understanding is likely to influence his stance on policy and regulation should he take on the role of vice president.

Polygon (MATIC) Hits $0.53, Eyes Breakout Amid Market Slowdown

The Vance administration, known for its support for cryptocurrencies, could significantly boost Polygon (MATIC), a major Ethereum layer 2 scaling project. MATIC has already attracted the attention of the developer community for its innovative solutions.

Even so, regulatory uncertainties have slowed widespread adoption and integration with traditional financial systems. Vance’s backing could serve as a driving force to unlock Polygon’s untapped capabilities.

A recent look at the MATIC token shows that its current trading value is $0.53, which represents an increase of over 2% in the last 24 hours. This surge coincides with a downturn in the broader cryptocurrency market, signaling solid fundamental strength and a growing sense of confidence among investors regarding Polygon’s future prospects.

Based on technical indicators, MATIC appears to be facing a resistance level that has persisted for several months, hinting at a potential breakout that could propel prices towards the previous peak around $1.29.

MATIC’s cutting-edge technology has taken a significant leap forward with the introduction of the Plonky3 zero-knowledge proof system. This innovation in zk-rollup technology is set to revolutionize MATIC’s scalability and efficiency, cementing its position as the premier choice for developers and enterprises.

Algotech (ALGT) Eyes $1 Price Hike When Its Exchange Launches

Algotech, a project that has attracted the interest of crypto enthusiasts and JD Vance, aims to transform algorithmic trading in the cryptocurrency space. Through the use of artificial intelligence and machine learning, Algotech offers advanced trading strategies to ordinary investors.

The platform’s innovative approach and ambitious roadmap are in line with JD Vance’s goal of driving financial innovation and making sophisticated investment tools more accessible to all. Algotech’s decentralized structure stands out, aligning perfectly with the core principles of blockchain technology.

By cutting out the middleman and giving users direct authority over their trading algorithms, Algotech embodies the essence of financial independence advocated by many in the crypto community, including Vance. This common ground makes Algotech a natural choice for endorsement by crypto-friendly leadership.

As Algotech’s pre-sale gains momentum, with over $9.6 million in funding, excitement is building for its official launch. Analysts have set lofty price targets, with some even suggesting that ALGT could surge to $1 shortly after it goes public.

While it’s wise to approach these predictions with caution, the combination of Algotech’s cutting-edge technology and the potential backing of key figures like JD Vance could pave the way for significant growth and adoption.

Learn more:

Visit Algotech Presale

Join the Algotech community

Disclaimer: This is a paid release. The statements, views, and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of any information available in this content. Do your research and invest at your own risk.

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Nfts

OG Crypto Artist Trevor Jones Unveils Groundbreaking Collection of Ordinals | NFT CULTURE | NFT News | Web3 Culture

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

OG Crypto Artist Trevor Jones Unveils Groundbreaking Collection of Ordinals | NFT CULTURE | NFT News | Web3 Culture

Trevor Jones’ New Genesis BTC Collection: CryptoAngels

Known for his innovative blend of physical and digital art, Trevor Jones continues to push the boundaries of the NFT space with his latest collection, CryptoAngels. Since his foray into Bitcoin-themed artwork in 2017, Jones has garnered a significant following, cementing his reputation with record-breaking sales and community events.

The Bitcoin Angel Journey

In 2021, Jones made headlines with his Bitcoin Angel open edition, selling 4,158 editions for an incredible $3.2 million in just seven minutes. This success paved the way for his latest venture, where he combines art, community, and technology in new ways. His annual Castle Parties, celebrating art, culture, and charity, have further cemented his place in the Web3 world.

CryptoAngels Collection Review

Jones’ CryptoAngels collection is divided into two main stages: Archangels and CryptoAngels.

Step 1: The Archangels The initial phase, Archangels, saw 21 collector’s packages sold for 87.9 ETH (approximately $335,291). Each package included:
- A physical bronze sculpture of the Bitcoin angel
- A 3D NFT avatar
- An Archangel Ordinal
Esteemed collectors like ModeratsArt, Batsoupyum, Bharat Krymo, Blondie23LMD, and 1Confirmation now lead the CryptoAngel army as Archangel Collectors.
Step 2: CryptoAngels The second phase, set to launch on August 7, features 7,777 unique CryptoAngels. These will be available for minting via OrdinalsBot, starting with a whitelisting phase. Each CryptoAngel is distinct and named by Jones himself. The collection is organized into 21 cohorts, each associated with one of Archangel’s collectors, fostering sub-communities within the larger collection. Additionally, there are seven 1/1 CryptoAngels, making them exceptionally rare and not aligned with a cohort.

Connecting Bitcoin and Art

Jones, who has been a strong Bitcoin supporter since mid-2017, expresses his deep connection to the crypto community. He sees the CryptoAngels collection as a tribute to that community, bringing his iconic Bitcoin Angel motif to the blockchain.

“I have been personally investing in Bitcoin since mid-2017 and its ethos quickly inspired me in my crypto art journey. I have followed the growth of Ordinals since its inception and the CryptoAngels collection is my offering to a community that has welcomed me with open arms and given me the opportunity to bring my Bitcoin Angel motif to the chain where it was always meant to be,” said artist Trevor Jones.

Collectors’ opinions

“Bitcoin’s OG artist Trevor Jones, behind the Bitcoin Angels depositing ordinals on the immutable chain is a match made in crypto-native art heaven.” – Bharat Krymo (@krybharat – Archangel Collector)

“The 2018 Bitcoin Angel oil painting is one of the first crypto tributes to Bitcoin, so CryptoAngels on Ordinals is a natural extension of Trevor’s artistic journey” – batsoupyum (Archangel Collector)

Interactive experience and limited editions

Rounding out the collection, 21 special Angels will be available to mint for $7 each on Base, playable in the exclusive retro arcade game, Dante’s Pixel Inferno. The game challenges players to guide their Angel through the nine circles of Fiat Hell, collecting Bitcoin and earning rewards. Each Angel in the game has unique abilities and weapons.

Whitelisting Opportunities and Community Engagement

Whitelisting (WL) opportunities are available through community partnerships, existing Bitcoin Angel OE and Trevor’s Ascended Angels holders, and weekly giveaways. To stay up to date and secure a spot on the whitelist, join Trevor Jones’ active Discord community.

TL;DR

Trevor Jones is launching the CryptoAngels collection on August 7th, building on his Bitcoin Angel legacy. Split into two stages, Archangels and CryptoAngels, the collection includes unique NFTs and physical artworks, fostering strong community connections. Exclusive gaming experiences and limited minting opportunities enhance engagement. Join the Discord for your chance to win.

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