This week’s newsletter features Binance’s partnership with a sport club as a way to launch its ticketing service using nonfungible tokens (NFT). The NFT exchange-traded funds (ETF) were released by KuCoin. Learn how Google AI was capable of painting NFTs inspired by BAYC.
You can also read about the NFT community’s expenditures on NFTs during the first half 2022, and see the Muse NFT album. Don’t miss this week’s Nifty News roundup, which includes Dr DisRespect’s NFT game as well as FC Barcelona’s NFT publication.
After the UEFA League fiasco, Binance enters NFT ticketing
To launch NFT tickets, Societa Sportsiva Lazio and Crypto exchange Binance have partnered. This partnership will allow all home matches of the club to be covered by NFT tickets. This partnership is valid from the 2022-2023 season.
Binance claims that NFT tickets will resolve issues such as scalping and fake tickets, which was highlighted by the recent fiasco at UEFA league. NFT tickets will not only provide access to the event, but also offer added value such as match and store discounts, and token giveaways.
KuCoin launches USDT-dominated NFT TTF
KuCoin, a crypto platform based in Seychelles, has created an ETF that is tied to NFTs like the Bored Ape Yacht Club collection (BAYC). On July 29, the exchange launched its NFT ETF Trading Zone, which allows traders to trade ERC-20 tokens that represent NFT assets.
One of five NFT ETFs that the exchange launched is BAYC. ETFs for BAYC trade under the symbol hiBAYC. This represents BAYC assets. A ticker for CryptoPunks will also be used to access an ETF.
Google AI transforms all 10,000 BAYC NFTs in machine-made art
Artsy Monke, an artificial intelligence (AI), project used 10,000 Bored Ape Yacht Club NFTs to create abstract art that resembles the BAYC collection. The AI was given the BAYC NFTs to help create the pieces.
Crypto Grims, an AI artist, stated that their team had given references and taught the AI how they painted in different art styles. The team ran servers for several weeks until they achieved their desired results. The team created the collection and sold it on NFT marketplace OpenSea shortly after it was completed.
Report: Crypto users spent $2.7B on NFTs during the first half 2022.
Nansen, a data firm, has revealed that NFTs were minting nearly 1 million Ether (ETH) in the first half 2022. This is approximately $2.7 billion. The NFT marketplace OpenSea was the most popular place to mint NFTs.
Nansen estimates that around 1 million Ethereum wallet addresses were involved in the minting. This number was also compared to other popular chains such as the BNB Chain where $107million worth of NFTs were produced, and Avalanche with $77 million.
New format for Muse NFT album is added to the charts
Muse, a British rock band, will release an NFT album called Will of the People via Serenade (a Web3 marketplace). This album will be the first format to chart since 2015. Max Shand, CEO of Serenade, stated to Cointelegraph that the album will be the first new format eligible for charts since 2015.
Serenade’s digital pressing format offers a new way of managing royalties. It will be able to add Web3’s characteristics music assets to enable accurate accumulation of royalties as well as verifiable ownership, according to Serenade.
Nifty News: Dr DisRespect announces NFT games to mixed reactions, FC Barcelona’s first NFT sale sells for $700K or more
Dr DisRespect, a gaming streamer, gave a preview Saturday of Deadrop, his NFT game. The NFT game is still in its early stages of development and fans have mixed reactions.
On July 29, a NFT artwork by FC Barcelona was sold for $693,000. The NFT is an audiovisual piece that shows Cruyff’s goal in the 1973 match against Atletico Madrid.
We appreciate you taking the time to read this summary of the most important developments in the NFT space. For more information and insight into this constantly changing space, visit us next Wednesday.
Eileen Wilson –Technology and Energy
My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.