Non Fungible Tokens [NFTs] may be the single greatest opportunity/revolution in the digital age for arts and technology says Austin from Altcoin daily who has analysed what NFTs are, top NFTs projects and how they relate to the average person.
What are NFTs? NFTs in the most basic sense are Digital Scarcity with Verifiable Ownership on the blockchain for arts. This art can be anything from limited edition paintings, gaming items etc. NFTs are non-interopable as opposed to Bitcoin or the USD which has all its units equal in value, NFTs are unique and are not interchangeable. (1:01)
NFTfi has secured $890,000 in investment from top NFT executives, venture capitalists and companies after NBA Top Shot CEO backed the platform for loaning out NFTs (5:22) NFTfi created by South African developer Stephen Young is a peer-to-peer platform that lets its users pawn their crypto art tokens by staking their Ethereum-based NFTs as collateral for loans (rather than selling the art and parting with it forever).
SuperFarm’s mission has been to support cross-chain trading NFT minting and trading while remaining anchored to the Ethereum ecosystem. The newly launched cross-chain DeFi protocol has now partnered with Immutable to help solve Ethereum congestion/fees, deliver low-cost NFT minting and trading using zk-rollups (7:17).
Shawn Mendes has agreed to to issue digital wearables in partnership with avatar maker, Genes. The Canadian musician collection of concert-style collectibles is set to debut on NFT marketplace OpenSea becoming the digital auction house’s first “digital goods drop”. The new series puts OpenSea in competition with NiftyGateway, which has cornered the celeb NFT market till date (10:06).
The video premiered February 28th, 2021