NFT Archives - Fintech News https://www.fintechnews.org/blockchain/nft/ And Techs news of your sector Tue, 07 Jan 2025 00:32:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.7 6 top trending Meme Coins to buy in 2025 https://www.fintechnews.org/6-top-trending-meme-coins-to-buy-in-2025/ https://www.fintechnews.org/6-top-trending-meme-coins-to-buy-in-2025/#respond Tue, 07 Jan 2025 13:01:27 +0000 https://www.fintechnews.org/?p=36480 Meme coins have taken the cryptocurrency world by storm, evolving from simple jokes to serious contenders in the market. Over the past few years, we’ve witnessed a meteoric rise in interest, with these quirky coins often driven by community engagement and social media hype. As we move into 2025, the meme coin scene is bustling […]

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Meme coins have taken the cryptocurrency world by storm, evolving from simple jokes to serious contenders in the market. Over the past few years, we’ve witnessed a meteoric rise in interest, with these quirky coins often driven by community engagement and social media hype. As we move into 2025, the meme coin scene is bustling with energy, and new projects are capturing the attention of investors looking for the next big thing.
Among these coins, BTFD Coin stands out as a prime example of how meme coins can blend fun with financial opportunity. With an innovative approach that includes a Play-to-Earn (P2E) game and attractive staking rewards, BTFD Coin is ready to take the meme coin popularity to the next level. As the community grows and the excitement builds, it’s clear that 2025 will be a pivotal year for meme coins.
Let’s dive into the Top Trending Meme Coins to Buy in 2025, highlighting what makes each of these coins a worthy investment.

1. BTFD Coin (BTFD)

BTFD Coin is making waves in the crypto community for its unique blend of entertainment and investment potential. With its Play-to-Earn game, players can earn BTFD tokens while having a blast, making it a fun way to engage with the coin. The game’s mechanics are designed to keep players coming back for more, fostering a vibrant community around the coin. Additionally, the staking rewards are impressive, with analysts predicting an Annual Percentage Yield (APY) that could attract even the most cautious investors.
The presale for BTFD Coin is generating serious buzz, starting at just $0.000004 per coin. Once the presale wraps up, BTFD is expected to list at $0.0006. For instance, if you invest $5,000 at the presale price, you’d snag a whopping 1.25 billion BTFD tokens. When the price hits $0.0006, your investment could skyrocket to a stunning $750,000! That’s the kind of potential that gets people excited about meme coins.
Why did this coin make it to this list? BTFD Coin combines gaming, community spirit, and solid investment potential, making it a top contender among the Top Trending Meme Coins to Buy in 2025. With its engaging P2E game and attractive staking options, it’s definitely one to watch.

2. Shiba Inu (SHIB)

Shiba Inu has come a long way since its inception as a “Doge killer”. This meme coin has built a massive community and is now a household name in the crypto sphere. With ongoing developments, including DeFi projects and a dedicated NFT marketplace, Shiba Inu continues to capture the imagination of investors. The ShibaSwap platform allows users to trade, stake, and earn rewards, adding more utility to the coin.
Recent collaborations and marketing campaigns have kept Shiba Inu in the spotlight, attracting new investors. Analysts predict that with its strong community backing and innovative features, SHIB could see substantial growth in 2025. The buzz around Shiba Inu’s projects is set to create a FOMO effect among investors looking for promising meme coins.
Why did this coin make it to this list? Shiba Inu’s robust community, innovative projects, and ongoing developments position it as one of the Top Trending Meme Coins to Buy in 2025. If you’re looking for a coin with staying power, SHIB should be on your radar.

3. Bonk (BONK)

Bonk is quickly becoming a fan favourite in the meme coin landscape. Launched as a community-driven project, Bonk has already made headlines with its viral marketing campaigns and playful branding. The coin aims to bring joy and laughter to the crypto space, encouraging users to share and promote it through fun initiatives.
Recently, Bonk has introduced staking options, allowing holders to earn passive income while supporting the project. The community actively engages in various events and giveaways, which keeps the momentum going. Analysts believe that Bonk’s unique appeal and community involvement could lead to impressive price action in 2025.
Why did this coin make it to this list? Bonk’s playful approach, community engagement, and new staking features make it a standout among the Top Trending Meme Coins to Buy in 2025. If you’re in for some fun and potential gains, Bonk is definitely worth considering.

4. Brett (BRETT)

Brett is a newcomer that’s generating a lot of buzz for its quirky name and vibrant community. This meme coin focuses on fostering a positive and inclusive environment for its users. With a strong emphasis on community-driven initiatives, Brett encourages users to participate in decision-making, making it feel like a true grassroots project.
The latest updates reveal plans for a Play-to-Earn game, similar to BTFD, where users can earn tokens by playing and having fun. This feature is expected to significantly boost community engagement. Analysts see great potential for Brett as it rides the meme coin wave and taps into the growing interest in P2E gaming.
Why did this coin make it to this list? Brett’s community focus, upcoming P2E game, and innovative approach to meme coins position it as one of the Top Trending Meme Coins to Buy in 2025. If you want to support a project that prioritises its community, Brett is one to watch.

5. Peanut the Squirrel (PEANUT)

Peanut the Squirrel has carved out a niche in the meme coin market with its charming branding and community-centric initiatives. This coin aims to raise awareness for wildlife conservation while providing a fun and engaging platform for its users. With a portion of transaction fees going to wildlife charities, investors can feel good about their contributions.
The latest developments include partnerships with environmental organisations and plans for community events. Analysts believe that as awareness grows, so will the demand for Peanut tokens, making it a potential goldmine for investors. The unique mission behind this coin is resonating with many, especially those looking to make a positive impact.
Why did this coin make it to this list? Peanut the Squirrel’s mission-driven approach and community focus set it apart as one of the Top Trending Meme Coins to Buy in 2025. If you’re keen on supporting a good cause while enjoying the thrill of cryptocurrency, Peanut is a fantastic choice.

6. Book of Meme (BOM)

Last but definitely not least, Book of Meme is a creative and innovative project that invites users to become storytellers in the meme world. This platform allows users to create, share, and trade their memes as NFTs, adding a unique twist to the meme coin phenomenon. The community is encouraged to engage with each other through various meme-related contests and events.
Recent updates indicate plans for expanding the platform’s features, including gamification elements that could attract even more users. Analysts are optimistic about the future of Book of Meme, especially as meme culture continues to gain traction across social media platforms.
Why did this coin make it to this list? Book of Meme’s innovative platform and vibrant community make it a standout among the Top Trending Meme Coins to Buy in 2025. If you’re a fan of creativity and community, this coin is definitely one to keep an eye on

Conclusion

As we gear up for 2025, these meme coins are not just trends; they represent a shift in how we view cryptocurrency. With communities rallying behind them and innovative features on the horizon, investing in these coins could lead to exciting opportunities. Whether you’re drawn to the fun of BTFD Coin, the community spirit of Shiba Inu, or the charitable mission of Peanut the Squirrel, there’s something for every investor in this meme coin frenzy.
So, if you’re ready to dive into the world of meme coins, don’t hesitate! Keep an eye on these Top Trending Meme Coins to Buy in 2025 and consider signing up for updates on their latest developments. The future of meme coins is bright, and you won’t want to miss out!

 

Link: https://www.analyticsinsight.net/cryptocurrency-analytics-insight/6-top-trending-meme-coins-to-buy-in-2025?utm_source=pocket_saves

Source: https://www.analyticsinsight.net

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N26 adds Ready-Made Funds to its investment offering https://www.fintechnews.org/n26-adds-ready-made-funds-to-its-investment-offering/ https://www.fintechnews.org/n26-adds-ready-made-funds-to-its-investment-offering/#respond Fri, 20 Dec 2024 12:45:40 +0000 https://www.fintechnews.org/?p=36747 Berlin, 17 December 2024 – N26 just announced the launch of Ready-Made Funds, a new offering added to its existing Stocks & ETFs trading product designed to make investing easier and more accessible than ever before.  Ready-Made Funds allow customers to select a multi-asset portfolio made up of Exchange-Traded Funds (ETFs) and Index Funds, managed by investment […]

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Berlin, 17 December 2024 – N26 just announced the launch of Ready-Made Funds, a new offering added to its existing Stocks & ETFs trading product designed to make investing easier and more accessible than ever before. 

Ready-Made Funds allow customers to select a multi-asset portfolio made up of Exchange-Traded Funds (ETFs) and Index Funds, managed by investment experts from BlackRock. These funds are allocated across equity, fixed income, and non-traditional investments and offer more diversification than investing in a single asset class. The range also allows customers to choose a fund option to match the risk level they are most comfortable with: Mindful, Balanced or Ambitious. 

Building long-term wealth 

According to recent data commissioned by BlackRock, a third of non-investors in Europe (33%) cite lack of knowledge as a barrier to investing (1). Yet, customer interest and appetite are continuing to grow, with around 11 million first-time investors entering the market since 2022 (2). In this shift, digital investment platforms like N26 have been pivotal in educating and encouraging more Europeans to explore the world of investing. N26’s investment offering, with their newly added Ready-Made Funds aims to unlock the potential of long-term investing for all customers, with a simple, affordable, and accessible investment product that allows them to begin with as little as €1. 

Simplifying Investment Decisions 

Ready-Made Funds are the latest addition to N26’s trading offering and are designed to be easy, cost- and time-efficient. Users can select a fund based on their risk appetite and resulting estimated yearly return, directly within the N26 app. The funds offer three different target allocations, with varying risk and yield ranges, fully managed by investment experts. Users can seamlessly access their fund via the N26 app to monitor holdings, deposit or withdraw funds, manage investment plans, and view fund details.  

Mayur Kamat, Chief Product Officer at N26, said: “Investing in the capital markets is an increasingly important way to build wealth over the long term. With Ready-Made Funds, N26 customers can now embark on their investment journey in a couple of taps, backed by the expertise of seasoned professionals.” 

This new product is available in Germany, Austria, Spain, Ireland, The Netherlands, Denmark, Finland, Norway, and Belgium and will be gradually made available to eligible customers over the next few days, starting from today. Ready-made funds are offered in cooperation with BlackRock, giving customers access to their global investment and multi-asset investing expertise.

Timo Toenges, EMEA Head of Digital Wealth at BlackRock said: “We are delighted to work with N26 to bring Ready-Made Funds to their customers. These multi-asset funds are part of a simple investing process that make it easy and affordable to invest. With our global investment expertise, we aim to empower more Europeans to take their first steps into investing with confidence and ease, harnessing the benefits of different asset classes in a few taps.” 

Until 1 April 2025, N26 will waive its fees for this new product for all eligible customers (3). Thereafter, Ready-Made Funds will be available for annual fees starting at just 0.29% of the total investment value (4).  

Please find more details here.

Sources

 1. Investing in Europe today, Blackrock People and Money 2024 report

 2. Barriers to investing, Blackrock People and Money 2024 report

 3. Fees charged by BlackRock are already included in and reflected as part of the fund’s Net Asset Value (NAV).

 4. Fees differ by N26 membership tier, and are charged monthly. The fee calculated is based on Assets under Management (AUM), accrued on a daily basis.

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The NFT era was just the beginning, Blockchain gaming is the future https://www.fintechnews.org/the-nft-era-was-just-the-beginning-blockchain-gaming-is-the-future/ https://www.fintechnews.org/the-nft-era-was-just-the-beginning-blockchain-gaming-is-the-future/#respond Thu, 12 Dec 2024 09:21:04 +0000 https://www.fintechnews.org/?p=36393 In the early NFT days, most of the game developers who wanted to create games on the blockchain were limited due to the technical knowledge gap. By Coingape Staff The Non-fungible token (NFT) era took the blockchain gaming ecosystem by a storm; this unique digital asset niche was one of the most discussed topics in […]

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In the early NFT days, most of the game developers who wanted to create games on the blockchain were limited due to the technical knowledge gap.

The Non-fungible token (NFT) era took the blockchain gaming ecosystem by a storm; this unique digital asset niche was one of the most discussed topics in 2021, with some experts terming it as the future of gaming.
However, as fate would have it, most of the NFT-oriented games that made headlines at the time are either inactive or lost their appeal. To provide some more context, Axie Infinity’s in-game reward token, Smooth Love Portion (SLP), is currently trading at a 99% discount from its all-time high of $0.3997 at the height of the NFT craze. Meanwhile, God’s Unchained rare cards are down from average prices of around $10,000 to as little as $100.
This significant drop in the value of NFT gaming assets has not only reduced the allure of blockchain games but also attracted a lot of criticism. Most of the naysayers argue that blockchain gaming is not close to catching up with traditional games or infrastructures for several reasons; subpar gameplays, flawed tokenomics to sustain incentivized economies and too much technicalities, leaving out interested Web2 game developers.
To some extent, these arguments hold water, but looking at the developments post the NFT hype, it seems like NFTs set the stage for a more disruptive gaming era.

A New Dawn For Blockchain Gaming

Bear markets are for building in crypto and that’s exactly what innovators and other relevant stakeholders have been doing for the past two years. This section will highlight three major trends that are solidifying blockchain technology as the future of gaming ecosystems.

Publisher-as-a-Service (PaaS) Web3 Platforms

In the early NFT days, most of the game developers who wanted to create games on the blockchain were limited due to the technical knowledge gap. That’s no longer the case; nascent Web3 gaming platforms such as Functico are leveling the playing field for both Web2 and Web3 developers.
This full stack chain agnostic Web3 gaming platform is one of the few ecosystems that has gone a step further to offer seamless development tools through its Publisher-as-a-Service (PaaS) infrastructure. The platform features a 360 studio designed to streamline the Web3 game development process, from publishing to creating sustainable reward loops for potential players.
In addition, Funtico’s PaaS also includes a creator’s studio that allows developers to mint customized NFTs. This simplification is undoubtedly a game changer for many Web2 developers who have long wanted to curate or design blockchain games. With Funtico’s API and SDK integration, anyone can tap into blockchain technology for game development without having to rewrite their ideas from scratch.
While still a novel concept, the idea of PaaS blockchain gaming infrastructures is a big step towards building a more accommodative environment. The ease of launching games through such platforms could play a huge role, attracting some of the best developers who initially shrugged off blockchain games for the simple reason that they would have to learn from the ground up.

More Fun Games, Less Speculation!

Most of the games that debuted between 2020 and 2022 focused on speculative hypes whereby in-game tokens were primarily viewed as tools for wealth accumulation. To make matters worse, these games also had a very poor gameplay hence the high turnover rate.
Innovators seem to have learned from their mistakes; for starters, the blockchain games being developed today are based on more immersive gameplays. The two leading blockchain games as of writing are all based on immersive gameplays; the World of Dypians (MMORPG) and SERAPH:In The Darkness (action RPG).
It is also interesting to observe the rise of Telegram’s tap-to-earn games which are proving to be more effective than their tap-to-earn counterparts in onboarding new users to crypto. This niche now enjoys a market cap of $2.2 billion according to Coinmarket, with some games such as Lucky Funatic attracting over 400k monthly users. Other prominent names include Notcoin, Hamster Kombat and Catizen.

Traditional Game Publishers Joining the Bandwagon

Another affirming trend is the move by traditional gaming studios to develop in-house blockchain-based games or enter into strategic partnerships that place them at the midst of this revolution. A 2023 report by Coingecko revealed that over 70% of biggest gaming firms across the world are in one way or another invested in a blockchain initiative.
Notable advancements on this front include Epic’s change of content policy which saw the return of play-to-earn games like Gods Unchained to its platform. On the other hand, we have gaming giants such as Konami which launched a blockchain-powered initiative to leverage this tech in its gaming marketplace.
These moves are a signal of what’s to come; a futuristic gaming industry that will be built on Web3 technology. What’s particularly promising about traditional publishers making a debut is the resource in terms of human and financial capital. Most of these players are not only deep pocketed but have the right talent and development tools to shape the future of gaming.

Wrap Up

Although NFTs may have not lived up to the hype, their core value proposition is an eye opener to what gaming economies should look like – ecosystems where gamers have the opportunity to truly own in-game assets and actively contribute to development through decentralized autonomous organizations (DAOs). Now that the speculation facade has cleared up, we will likely see more advancements as Web3 takes the center stage in gaming development.

 

Link: https://coingape.com/blog/the-nft-era-was-just-the-beginning-blockchain-gaming-is-the-future/?utm_source=pocket_shared

Source: https://coingape.com

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The future of DeFi: Trends to watch https://www.fintechnews.org/the-future-of-defi-trends-to-watch-2/ https://www.fintechnews.org/the-future-of-defi-trends-to-watch-2/#respond Mon, 11 Nov 2024 14:11:13 +0000 https://www.fintechnews.org/?p=35546 Explore the DeFi trends to watch in 2024 By Sumedha Sen Decentralized Finance (DeFi) has rapidly emerged as one of the most transformative innovations in the financial sector. By eliminating intermediaries and enabling peer-to-peer financial transactions, DeFi offers a more transparent, inclusive, and efficient alternative to traditional finance. As we move into 2024, several key […]

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Explore the DeFi trends to watch in 2024

By Sumedha Sen 
Decentralized Finance (DeFi) has rapidly emerged as one of the most transformative innovations in the financial sector. By eliminating intermediaries and enabling peer-to-peer financial transactions, DeFi offers a more transparent, inclusive, and efficient alternative to traditional finance. As we move into 2024, several key trends are set to shape the future of DeFi, driving its growth and evolution. This article explores these trends and their potential impact on the DeFi landscape.

1. Perpetual Liquidity Pools (PLPs)

Perpetual Liquidity Pools (PLPs) are gaining significant attention in the DeFi space. Unlike traditional liquidity pools, which require periodic rebalancing to maintain liquidity, PLPs offer continuous liquidity provision. This innovation enhances liquidity management and reduces slippage, making decentralized exchanges (DEXs) more efficient.
Why It Matters:
PLPs provide a source of stability and efficiency for DEXs to manage their liquidity. This, in turn, works wonders for minimizing transaction costs and improving user experience. With the increase in DeFi projects applying PLPs, we are sure to see increased liquidity and reduced volatility in DeFi markets.

2. Intents-Based Architecture

Intents-based architecture represents a significant shift in how users interact with DeFi protocols. Instead of specifying every detail of a transaction, users can define their desired outcomes, and the protocol handles the complexities. This approach simplifies the user experience and automates complex processes, making DeFi more accessible to a broader audience.
Why It Matters:
By reducing the complexity of interacting with DeFi protocols, intents-based architecture lowers the barrier to entry for new users. This could lead to broader adoption of DeFi, as more people find it easier to participate in decentralized financial services. Additionally, this architecture enhances the efficiency of DeFi protocols, enabling them to scale more effectively.

3. Points and Airdrop Meta

These mechanisms, points and airdrops, have become popular methods for incentivizing user participation and liquidity within DeFi ecosystems. The more the users are rewarded for their engagement, the more activity and liquidity the project receives.
Why It Matters:
Things like points and airdrops are essential incentives that function as a driver for user growth and engagement in DeFi projects. As these mechanisms become more complex, we’re likely to see continually growing user participation in DeFi, which will raise the overall level of the ecosystem.

4. Liquid Staking Protocols

Liquid staking protocols are, in fact, the innovation that staking needs in DeFi. Traditionally, every time a user stakes their assets, they have to lock them up and can’t use them for other purposes. A liquid staking protocol allows a user to remain liquid while earning the desired staking rewards. In other words, a staker can continue using his assets for other DeFi activities, such as lending or trading.
Why It Matters:
Liquid staking increases the flexibility and usability of staked assets, in turn making staking more users-friendly. As more DeFi projects begin to adopt liquid staking protocols within their products, better participation in staking will be witnessed, which again justifies incentive security and stability for blockchain networks.

5. Cross-Chain Bridging

Bridging across different chains is one of the most promising developments for the future of DeFi. This enables both blockchain chains to communicate and talk to each other in order to support the seamless and convenient flow of assets and data across. This is so important in making DeFi grow, as users can use a much broader range of assets and services under DeFi.
Why It Matters:
Interoperability is essential in DeFi ecosystems to be fully scalable and integrated. Interoperability enables DeFi protocols to complement each other at a high level with complex and diversified financial services for end-users. This not only enhances user experience but also spurs innovation within the DeFi space.

6. Real-World Assets (RWA)

Tokenization of real-world assets is going to be a huge game-changer in DeFi. Through the combination of assets like real estate or commodities into DeFi platforms, users will have stable yields and a much safer haven for their investment.
Why It Matters:
It would enable DeFi to draw more traditional investors considering the safe investment of real-world assets, which, in turn, may also gradually bring about more massive adoption of DeFi by mainstream financial institutions in the long run, further legitimizing the industry and driving its growth.

7. Bitcoin Layer 2 Solutions

The first-ever cryptocurrency, Bitcoin, is becoming more than just a store of value; much new development on the Bitcoin network, especially Layer 2 solutions is enabling dApps on Bitcoin, paving alternative ways for DeFi development.
Why It Matters:
Enhancement of the functionality of Bitcoin through Layer 2 solutions can be an instrument of Bitcoin adoption and integration into the broader DeFi ecosystem. This will not only heighten the utility of Bitcoin but also bring strength and security from the Bitcoin Network into DeFi, thus attracting more users and capital to the space.

8. Prediction Markets

Prediction markets have grown dramatically as one of the most valued feature segments of DeFi. Users can bet on, or otherwise make money from, anything that has an outcome in the future, thereby allowing people to hedge risk via the wisdom of the crowd and even gain unique insight into market sentiment.
Why It Matters:
Prediction markets can deliver critical data and insights about future projects and investment approaches that can eventually help investors and traders make informed decisions. With the ever-growing rise of these markets, they are sure to turn into primary parts of the DeFi ecosystem within the next few days and provide its users with newer means of access to the financial markets.

9. Regulatory Compliance and Transparency

Compliance and transparency are increasingly vital as DeFi continues to grow. That is, projects ready to go through regulatory landscapes and give transparent operations are likely to enjoy more trust and adoption.
Why It Matters:
While regulatory compliance is supposed to ensure long-term sustainability and legitimacy for DeFi projects, closer regulatory scrutiny of DeFi space implies that the projects that can proactively handle compliance issues will be in a better position to thrive. It would also help establish trust among the users, pertinent for further growth of DeFi.

10. Institutional Adoption

Institutional DeFi adoption is already gaining shape, as the traditional financial institutions are also now well on the way to explore the opportunities of DeFi. This has high potential to be a game-changer in terms of pumping more capital and credibility into the DeFi space, thus closing the gap between traditional finance and decentralized finance.
Why It Matters:
It is thus not unlikely that institutional players in DeFi will be the catalysts for the growth of the industry by the infusion of a great volume of capital and expertise. The more institutions turn to DeFi, the more innovation can be expected, and the financial products developed will be only more sophisticated. It will add to the systemic importance of DeFi within the global financial system, integrating into a fundamental financial layout.
Looking ahead, the future prospects of DeFi are bright, accompanied by various developments going to push its growth and transformation in the upcoming year. These may include sustained liquidity pools, intention-driven structures, bridges across different chains, and real-world asset integration. Such trends should eventually raise the usability, accessibility, and attraction of DeFi.
DeFi’s real role in the global financial system will likely be substantial as regulatory standards are developed and greater participation in the institutions comes aboard. Doing so and securing investors’ and developers’ placements in the DeFi movement will very well be accomplished through staying abreast of these changes and adapting.

 

Link: https://www.analyticsinsight.net/defi/the-future-of-defi-trends-to-watch?utm_source=pocket_saves

Source: https://www.analyticsinsight.net

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Are NFTs dead? https://www.fintechnews.org/are-nfts-dead/ https://www.fintechnews.org/are-nfts-dead/#respond Wed, 16 Oct 2024 07:11:22 +0000 https://www.fintechnews.org/?p=35904 By Michael William G. Are you a fan of the NFT craze? The digital world has been enthralled by the stratospheric rise and later fall of non-fungible tokens (NFTs) recently. Once hailed as the future of digital ownership and innovation, the hype has suddenly died down. So, if you’ve ever wondered, “Are NFTs Dead?” you’re […]

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Are you a fan of the NFT craze? The digital world has been enthralled by the stratospheric rise and later fall of non-fungible tokens (NFTs) recently. Once hailed as the future of digital ownership and innovation, the hype has suddenly died down.

So, if you’ve ever wondered, “Are NFTs Dead?” you’re in luck. Today, we’ll cover this and more. Keep reading to learn more.

What are NFTs?

Unique digital assets called non-fungible tokens (NFTs) either authenticate a particular item or content piece or indicate ownership. Unlike conventional digital files that may be readily duplicated, NFTs use blockchain technology to guarantee every piece is unique with provenance and verified ownership.
This invention has transformed our view and appreciation of digital works, thereby providing artists, makers, and collectors with fresh paths to interact with the digital sphere.

The emergence of NFTs

Early in the 2010s, with the release of the ERC-721 token standard on the Ethereum blockchain, interest in NFTs first started to rise. This milestone made it possible for original digital assets to be created and traded, therefore opening the path for initiatives like CryptoKitties, which highlighted the possibilities of NFTs for digital collectibles.
But driven by a confluence of events, the actual explosion in NFT appeal happened in 2021. A big part of it was the novelty element—people were enthralled by the concept of owning a digital asset. Further fueling the frenzy was the market’s speculative character, with investors looking for rapid profits driving prices to stratospheric heights.
High-profile NFT sales, like Beeple’s record-breaking $69 million auction for his digital artwork “Everydays: The First 5000 Days,” shot NFTs into the public and solidified their disruptive power in the digital art and collectibles scene.

The fall of NFTs

The NFT market has since seen a notable drop despite the first enthusiasm and skyrocketing sales. Several main elements have led to this downturn:

Saturation of the Market

The saturation of the market resulting from the emergence of NFT projects and offers makes it more difficult for collectors and investors to separate actual value from speculative noise. The large amount of fresh NFTs produced every day caused decision fatigue and uncertainty, which helped to explain the general drop in interest and apparent value.

The Bursting of the Hype Bubble

Like earlier market bubbles, the enthusiasm and speculation over NFTs led to inflated pricing and frenzied trading activity. Like any speculative bubble, reality finally set in and caused a price adjustment as well as a reassessment of the long-term viability of the NFT market.
Problems regarding copyright infringement, plagiarism, and ownership rights have dogged the NFT area. These problems erode the validity and legitimacy of NFTs, therefore undermining confidence among collectors and producers. Legal ambiguities and moral conundrums still exist, hence some people would be unwilling to engage in a market full of such difficulties.

 

Link: https://watcher.guru/news/are-nfts-dead?utm_source=pocket_shared#google_vignette

Source: https://watcher.guru

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Are NFTs making a comeback or just riding the hype? Here’s what the numbers say https://www.fintechnews.org/are-nfts-making-a-comeback-or-just-riding-the-hype-heres-what-the-numbers-say/ https://www.fintechnews.org/are-nfts-making-a-comeback-or-just-riding-the-hype-heres-what-the-numbers-say/#respond Thu, 10 Oct 2024 16:00:01 +0000 https://www.fintechnews.org/?p=36016 By Ankish Jain After a dull stretch, NFT sales have taken a turn for the better. What’s behind this momentum, and is it a sign of a lasting revival? NFTs are finally making a comeback Non-fungible tokens are starting to show signs of life again after a rather dull performance in the last few weeks. […]

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After a dull stretch, NFT sales have taken a turn for the better. What’s behind this momentum, and is it a sign of a lasting revival?

NFTs are finally making a comeback

Non-fungible tokens are starting to show signs of life again after a rather dull performance in the last few weeks.
According to data from CryptoSlam, sales between Sep. 30 and Oct. 6 soared past $84.9 million, marking the highest sales volume since the week ending Aug. 25, which recorded over $93 million.
What’s even more interesting is that the NFT market has been gaining momentum throughout September. During the week of Sep. 16-22, NFT sales reached $69 million, and the following week, Sep. 23-29, saw a modest uptick to $75 million.
The current week, as of Oct. 7, has already clocked over $5.5 million in sales, suggesting that the market could continue this upward trend.
In addition to the rise in sales volume, there’s been an increase in activity, with over 2 million transactions recorded in the last seven days as of Oct. 7, a 29.73% jump from the previous period.
However, it’s not all sunshine. The average sale price of NFTs has dropped by 32.91%, now sitting at around $43 per sale, indicating that while more people are engaging with NFTs, the high-priced collectibles may still be lagging behind.
With the numbers showing positive momentum, what’s driving this rebound? Let’s dive deeper into which blockchains are leading the NFT race, why NFTs are making a comeback, and what we can expect in the days to come.

Which blockchains are leading the race?

As of Oct. 9, Ethereum eth-2.78% Ethereum still holds the crown as the dominant blockchain in the NFT space, but the landscape is shifting, and other platforms are quietly gaining ground.

Ethereum (ETH)

Ethereum remains the leader in terms of NFT sales, bringing in over $26.5 million in the past week. Ethereum’s sales accounted for nearly 31% of the entire NFT market, but it’s also plagued by a relatively high percentage of wash trading — roughly 11.69%.

Wash trading involves artificially inflating the volume by buying and selling within the same wallet to create the illusion of higher demand.

Despite this, Ethereum’s vast user base and dominance in the NFT ecosystem cannot be ignored, as it recorded over 136,000 buyers during this period.

However, the volume of transactions (over 654,000) suggests a growing reliance on smaller trades, with the average sale price taking a sharp dip.

Mythos (MYTH)

Mythos (MYTH), a relatively newer player, is perhaps the most surprising competitor. Sales skyrocketed by over 6200% in the last week alone, reaching $15.3 million, giving it the second spot.

This explosion is driven by its gaming-centric focus, tapping into a relatively untapped and highly passionate user base. In-game assets such as NFTs have been a concept that gamers are increasingly embracing, and Mythos is positioning itself as the leader in this niche.

What’s even more interesting is that this surge isn’t heavily tied to wash trading, as only 0.28% of its transactions are wash trades, showing the platform is experiencing genuine user-driven growth.

Mythos has attracted over 632,000 transactions this week alone, which is nearly five times that of Ethereum, signaling that it might be a blockchain to watch closely as it builds on this rapid adoption.

However, gaming NFTs are highly dependent on the success of the underlying games. Hence, if those games fail to attract or retain users, the NFT market on Mythos might see a sharp decline.

Bitcoin (BTC)

Bitcoin btc-2.68% Bitcoin entering the NFT race was not something many anticipated a few years ago. Traditionally viewed as a store of value, Bitcoin’s blockchain wasn’t designed with NFTs in mind.

However, the introduction of Ordinals has breathed new life into Bitcoin’s potential in this space. While its weekly sales volume of $14.1 million might seem modest compared to Ethereum, the fact that Bitcoin’s NFT market is growing organically, with only 5.15% wash trading, is worth noting.

Interestingly, despite having fewer transactions and users compared to Ethereum, Bitcoin boasts a higher average sale price, hinting that its NFT market might be more geared toward high-end, premium assets.

Solana (SOL)

Solana sol-3.35% Solana continues to be a serious competitor, posting over $10.8 million in sales this week, ranking fourth.
However, Solana’s wash trade percentage — at a whopping 22.7% — is one of the highest among the top blockchains, indicating that while Solana is seeing growth, much of its activity may be artificially inflated.

Yet, with nearly 223,000 unique weekly buyers and over 421,000 weekly transactions, it’s clear that Solana remains a key player, especially among collectors who prefer faster and cheaper transaction fees than Ethereum offers.

Polygon (POL)

Polygon pol-1.67% POL (ex-MATIC), known for its efficiency and low transaction costs, clocked over $10.7 million in sales last week, with wash trades making up only 0.25% of its transactions — far lower than Ethereum or Solana.

Polygon also recorded an impressive 84,532 sellers, indicating that the blockchain is attracting a healthy level of marketplace activity.

Why are NFTs surging again?

The recent surge in NFT sales can be traced to a few key developments, the most notable being a high-profile, yet dubious, CryptoPunk sale and the introduction of innovative NFT features by Telegram.
A flash loan-fueled transaction involving CryptoPunk #1563 recently made headlines when it appeared to sell for an eye-popping $56.3 million on the Ethereum blockchain.
On the surface, this seemed like a monumental sale in a space that has been struggling with lower sales volumes and declining prices.

But a closer look revealed that the sale was anything but legitimate. The buyer of the CryptoPunk used a flash loan — an uncollateralized loan that’s paid back in the same transaction — creating the illusion of a massive purchase.

In reality, the Punk, which had been purchased for just $69,000 in September, was simply transferred between wallets without any real funds changing hands. Despite this, the sale grabbed attention and sparked conversations, renewing interest in the NFT space.
These carefully orchestrated events often attract investors’ attention, especially those who had stepped away from the market amid the broader decline in NFT activity.

The psychological impact of these “sales” can reignite fear of missing out, pulling speculators back into the space as they anticipate that increased attention could lead to real opportunities.

Simultaneously, Telegram’s move into the NFT arena has introduced a more accessible avenue for users to engage with digital collectibles.

On Oct. 5, Telegram launched its new “Gifts” feature — animated images that can be sent to contacts on the platform. But what’s most exciting is that these Gifts are set to be converted into NFTs later this year, with Telegram allowing users to mint these limited-edition assets on the TON blockchain.

This feature builds on Telegram’s previous introduction of its in-app currency, Stars, which users can spend on digital services within the platform. By linking NFTs to social interactions, Telegram is making NFTs more accessible to everyday users.

Telegram’s integration of NFTs is a key development because of its massive user base and the seamless experience it offers. Users will soon be able to convert these digital gifts into NFTs, trade them, and even auction them off, all while staying within the Telegram ecosystem.
While the broader market saw its lowest sales volume since January 2021 in September, these recent events have breathed new life into the sector. Whether this resurgence will hold remains to be seen, but for now, NFTs are back in the spotlight.

What to expect next?

Looking ahead, the NFT space faces some uncertainties, especially with the recent Wells notice issued by the U.S. Securities and Exchange Commission to OpenSea, the largest NFT marketplace.
On Aug. 28, the SEC signaled its intent to take enforcement action against OpenSea, claiming that some NFTs on the platform may qualify as securities. This could have major implications for the entire NFT ecosystem.
A Wells notice is a formal warning that the SEC might pursue legal action, and while OpenSea has the opportunity to respond, the looming threat creates an atmosphere of uncertainty.
If the SEC classifies certain NFTs as securities, it could trigger a wave of regulatory scrutiny, not just for OpenSea, but for other platforms and NFT projects.
The potential for stricter regulations could make some investors hesitant and slow down market growth, especially for projects that don’t have clear legal frameworks in place.
At the same time, the current uptick in NFT sales seems largely fueled by hype. It remains to be seen whether this buzz will translate into long-term growth or if it’s just another short-lived trend.

 

Link: https://crypto.news/are-nfts-making-a-comeback-or-just-riding-the-hype/

Source: https://crypto.news

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NFT bubble burst: Monthly sales, transactions crash https://www.fintechnews.org/nft-bubble-burst-monthly-sales-transactions-crash/ https://www.fintechnews.org/nft-bubble-burst-monthly-sales-transactions-crash/#respond Mon, 09 Sep 2024 15:31:25 +0000 https://www.fintechnews.org/?p=35676 By Crispus Nyaga The non-fungible token industry remained under pressure in August as sales continued falling. Total NFT sales dropped by 41% in August to $376 million as the number of buyers and sellers fell by double digits. Data by CryptoSlam shows that the number of buyers dropped by 29% to 127,913 while the number […]

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The non-fungible token industry remained under pressure in August as sales continued falling.
Total NFT sales dropped by 41% in August to $376 million as the number of buyers and sellers fell by double digits.
Data by CryptoSlam shows that the number of buyers dropped by 29% to 127,913 while the number of sellers fell by 17% to 93,600.
Additionally, total NFT transactions declined by 50% to 7.4 million, signaling that demand for these assets has waned.
At the peak in January 2022, total monthly sales were over $6.5 billion while the number of unique buyers and sellers stood at over 1.5 million and over 1 million.
Ethereum eth1.14% Ethereum maintained its lead as the most popular chain for NFT traders, handling over $129 million in August, down by 38% from the previous month.
It was followed by Solana (SOL), which handled $78.9 million. Bitcoin’s NFT sales dropped by 50% to $57 million while Polygon (MATIC) fell by 52% to $36 million.
Mythos Chain saw an improvement in August. It handled $20 million in sales. That’s up by 14% from the previous month. Mythos was led by DMarket, whose sales rose by 17% during the month.
Some of the most popular NFTs have seen their valuation and sales drop in the past few years. For example, Bored Ape Yacht Club has moved from having monthly sales worth over $50 million in 2022 to just $11 million in August.
This sharp decline in NFT monthly volume has hurt both investors and marketplaces like OpenSea and Rarible. Data by Dune Analytics shows that OpenSea’s monthly volume in July was just $32 million, down from $641 million in January last year.
OpenSea monthly volume
OpenSea monthly volume | Source: Dune Analytics
Other NFT marketplaces like Blur, Magic Eden, and SuperRare have also had weak volume and users in the past few months.
NFT sales have dropped because of the falling prices. CryptoPunks, the biggest NFT collection, has a floor price of $88,839, a 52% drop from the same period in 2023. Bored Ape Yacht Club’s floor price has dropped by 70% in the past 12 months to $29,593 while Azuki has fallen by 20%.
The top gainers in the same period were Pudgy Penguins and Milady whose floor prices jumped by 166% and 121%, respectively.

 

Link: https://crypto.news/nft-bubble-burst-monthly-sales-transactions-crash/

Source: https://crypto.news

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5 best Alt Coin for long term : VR giants, Metaverse wonders, and Blockchain innovators https://www.fintechnews.org/5-best-alt-coin-for-long-term-vr-giants-metaverse-wonders-and-blockchain-innovators/ https://www.fintechnews.org/5-best-alt-coin-for-long-term-vr-giants-metaverse-wonders-and-blockchain-innovators/#respond Wed, 17 Jul 2024 13:33:32 +0000 https://www.fintechnews.org/?p=34711   Why is everyone eager to invest in the best alt coin for long term? The cryptocurrency world is buzzing with excitement! The market is surging, offering a prime opportunity for smart investments, but where do you put your money? There’s more to discover than big names like Bitcoin and Ethereum! Hidden gems exist, called […]

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Why is everyone eager to invest in the best alt coin for long term? The cryptocurrency world is buzzing with excitement! The market is surging, offering a prime opportunity for smart investments, but where do you put your money? There’s more to discover than big names like Bitcoin and Ethereum!
Hidden gems exist, called altcoins (alternative cryptocurrencies), that have the potential to revolutionize how we game, connect with others online, and even think about money. These projects are like young companies with big dreams; getting in early can lead to huge rewards.

Top 5 Altcoins for the Long Haul

As of May 2024, these are the best alt coin for long term:
  1. 5thScape (5SCAPE) : Redefining VR Entertainment
  2. DarkLume (DLUME) : Experience the Ultimate Virtual Lifestyle
  3. Highstreet (HIGH) : The Virtual Fashion Hub
  4. Cardano (ADA) : The Thoughtful Builder of the Crypto World
  5. Solana (SOL) : Speed and Scalability Champion
The altcoins we’ve highlighted— 5thScape ,Darklume, Cardano, and Solana – possess power beyond simple price speculation. They represent the bleeding edge of innovation in the crypto space, pushing the boundaries of virtual reality, social experiences, and the foundation of how we interact with technology.

1. 5thScape (5SCAPE)

5thScape isn’t content with simply offering a collection of VR games. Its vision is to become the ultimate destination for immersive entertainment and content, seamlessly integrating various experiences with its 5SCAPE token.

From adrenaline-pumping VR games to educational content and even virtual movie theaters, 5SCAPE aims to provide something for everyone within its VR world. But its ambition doesn’t stop there; 5thScape plans to build its own proprietary VR headset and ergonomic gaming chairs, offering a complete VR experience both in the virtual world and in the physical setup.

The 5SCAPE token ties it all together. Expect to use it for in-game purchases, access to exclusive content, discounts, and potentially to participate in the project’s development through decentralized governance.

Why Invest in 5SCAPE?

  • Expansive Vision: 5thScape isn’t just about gaming; it’s aiming for a comprehensive VR content platform.
  • Hardware Integration: The plan for a proprietary VR headset and gaming chairs signifies a long-term investment in the project and could create a unique ecosystem.
  • Broad Appeal: The diverse content offerings could attract a wide audience, increasing demand for 5SCAPE tokens as the platform grows. By their presales data, it appears to be a strong contender for best alt coin for long term.

2. Darklume (DLUME)

The world of Darklume blends fantasy elements with a gamified economic system, offering a unique VR metaverse experience catering to those seeking exclusivity and a taste of virtual luxury. Unlike projects focused solely on gaming, Darklume promises a lifestyle.

Think of DLUME as the virtual equivalent of a country club membership. Holding enough DLUME grants you citizenship within exclusive virtual countries, unlocking a world of social interactions, potential dating opportunities, and even the chance to engage in riskier, high-stakes activities. It’s a social experiment as much as a virtual world.

But Darklume isn’t just about socializing. Its unique economic system requires citizens to pay “taxes” in DLUME to maintain their status. It offers a quirky twist with a ‘basic income’ that must be used to tip others, fostering a constant flow of currency within the metaverse.

Why Invest in DLUME?

  • Social Niche: Darklume caters to a specific audience seeking virtual status symbols and a unique social atmosphere.
  • Token Utility: DLUME has clear use cases within the metaverse for unlocking access and making virtual purchases, and it potentially even influences the project’s direction.
  • Experimental Value: Darklume’s unconventional economic system could create unexpected dynamics and drive up demand for DLUME as the social experiment unfolds.

3. Highstreet (HIGH)

Fashion enthusiasts, this one’s for you! Highstreet, a VR metaverse playground designed to fuel your love for fashion, awaits.  It will take you to a virtual world full of digital and physical fashion experiences, all accessible through your avatar.  Here, you not only rock stunning NFT couture from designer brands but can also redeem many items for real-world items, smoothly blending the physical and virtual.

Explore beautifully designed virtual stores of your favorite brands, from Gucci boutiques to Burberry flagships. Highstreet is not just about shopping; it is a social haven for fashion lovers. You can meet fellow fashionistas, attend virtual shows, or throw metaverse parties.

The platform’s native token, HIGH, fuels your adventures, allowing you to purchase virtual land, and exclusive clothing and even participate in voting sessions for the Highstreet platform’s regulations and upgrades.  More than a shopping platform, Highstreet is a portal to a new fashion hub. So, dust off your digital wardrobe and expose yourself to a vibrant community that shares your passion for fashion!

Why Invest in HIGH?

  • Strong Foundation: Highstreet pioneers digital fashion in the metaverse, integrating NFT couture and real-world item redemptions. It’s at the forefront of VR technology, ensuring a robust platform for growth.
  • Real-World Applications: HIGH tokens enable purchasing virtual assets, exclusive clothing, and governance participation via voting. This utility enhances user engagement and bridges virtual experiences with tangible benefits.
  • Long-Term Potential: Positioned in the expanding digital fashion and metaverse sectors, HIGH offers promising long-term growth. Its community-driven model and strategic advancements in VR and NFTs support sustained value appreciation and innovation.

4. Cardano (ADA)

If some crypto projects are like flashy sports cars, Cardano is the carefully engineered, dependable work truck. This project prides itself on thorough development and a “measure twice, cut once” philosophy. Why does that matter? Because it means the technology Cardano builds is designed to last.
Cardano is all about powering the next generation of decentralized applications (dApps) and smart contracts – think of these as unbreakable digital agreements. Developers love Cardano because it gives them a rock-solid foundation to create everything from online marketplaces that cut out the middleman to systems that make elections more secure.
But Cardano’s commitment to doing things the right way extends beyond just the tech. It also strives to be energy-efficient, proving that powerful cryptocurrencies don’t have to harm the environment. This forward-thinking approach could make it even more attractive to investors in the future.

Why Invest in ADA?

  • Strong Foundation: Cardano’s focus on research and peer review leads to robust technology and fewer potential vulnerabilities.
  • Real-World Applications: ADA powers a growing ecosystem of useful dApps and solutions.
  • Long-Term Potential: Its sustainable approach and commitment to efficiency could make it a major player for years to come.

5. Solana (SOL)

If you’ve ever tried to use a slow, expensive cryptocurrency network, Solana feels like a breath of fresh air. It’s designed for projects where speed and affordability are essential. Think about bustling marketplaces where buyers and sellers need to act quickly or high-speed games powered by crypto where every millisecond matters. Solana makes these experiences possible without breaking the bank on transaction fees.
But Solana isn’t just about efficiency. It’s a hotbed for cutting-edge ideas, especially in decentralized finance (DeFi); that’s where crypto is reinventing how we borrow, lend, and invest. If you’re into those unique digital collectibles called NFTs, Solana’s fast and affordable network makes them more accessible than ever.

Why Invest in SOL?

  • The Need for Speed: Solana’s low fees and high throughput address real bottlenecks in the crypto ecosystem.
  • Cutting-Edge Technology: SOL is pushing the boundaries of blockchain capabilities, attracting talented developers and innovative projects.
  • DeFi and NFT Hub: Solana’s growing role in decentralized finance and the NFT space offers significant growth potential.

Conclusion

Innovation is what drives the crypto market. And our exclusive list of best alt coin for long term speaks is a good starting point to understand the market. Darklume, and 5thScape are pushing boundaries in VR gaming, social experiences, and the power of blockchain technology. 5thScape fuels a VR racing ecosystem.
Darklume is a virtual world of luxury and status. 5thScape promises to redefine VR entertainment. These projects could transform the future. Consider them if you’re ready to invest in the next generation of tech and entertainment.

 

Link: https://www.analyticsinsight.net/cryptocurrency-analytics-insight/5-best-alt-coin-for-long-term-vr-giants-metaverse-wonders-and-blockchain-innovators?utm_source=pocket_saves

Source: https://www.analyticsinsight.net

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NFTs in gaming: Tools for collectors and players https://www.fintechnews.org/nfts-in-gaming-tools-for-collectors-and-players/ https://www.fintechnews.org/nfts-in-gaming-tools-for-collectors-and-players/#respond Mon, 01 Apr 2024 22:30:18 +0000 https://www.fintechnews.org/?p=33762 By Arti One sector where NFTs are making significant waves is gaming In recent years, Non-Fungible Tokens (NFTs) have taken the digital world by storm, transforming various industries, including art, music, and entertainment. One sector where NFTs are making significant waves is gaming. As digital assets unique to their owners, NFTs are reshaping how gamers […]

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One sector where NFTs are making significant waves is gaming

In recent years, Non-Fungible Tokens (NFTs) have taken the digital world by storm, transforming various industries, including art, music, and entertainment. One sector where NFTs are making significant waves is gaming. As digital assets unique to their owners, NFTs are reshaping how gamers collect, trade, and play, opening up new opportunities for both collectors and players alike.

Understanding NFTs in Gaming:

NFTs are digital tokens that represent ownership or proof of authenticity of a unique item or asset. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are indivisible and cannot be replicated, making them ideal for representing digital collectibles in gaming.

Tools for Collectors:

For collectors, NFTs offer a new frontier for acquiring and trading rare in-game items, skins, characters, and other virtual assets. With NFTs, collectors can prove ownership and authenticity of their digital possessions, ensuring scarcity and value preservation. Platforms such as OpenSea, Rarible, and NBA Top Shot have emerged as popular marketplaces for buying, selling, and trading NFT-based gaming collectibles.
Moreover, NFTs provide collectors with greater flexibility and control over their assets. They can transfer ownership, display their collections publicly, or even integrate them into other games or virtual worlds, thus enhancing the overall gaming experience.

Tools for Players:

Beyond collectors, NFTs also offer unique benefits for players within gaming ecosystems. By incorporating NFTs into gameplay, developers can introduce new monetization models, reward systems, and player-driven economies. For instance, players can earn NFT-based rewards for achieving milestones, completing challenges, or participating in tournaments, providing tangible incentives for engagement and skill progression.
Additionally, NFTs can enhance player customization and personalization options. Players can own unique avatars, skins, weapons, or other in-game assets that reflect their individual preferences and achievements. These personalized items not only add aesthetic value but also contribute to a sense of ownership and identity within the gaming community.

Examples of NFTs in Gaming:

Several gaming projects have already embraced NFTs, leveraging their potential to innovate and disrupt traditional gaming paradigms. For instance, Axie Infinity, a blockchain-based game, allows players to collect, breed, and battle digital creatures known as Axies, with each Axie represented as an NFT. The game has gained widespread popularity, attracting a dedicated community of players and collectors.
Another example is Decentraland, a virtual reality platform built on the Ethereum blockchain, where users can buy, sell, and trade virtual land parcels represented as NFTs. Players can create, explore, and monetize their virtual experiences, fostering a vibrant and decentralized gaming ecosystem.

Future Outlook:

As NFT technology continues to evolve, the possibilities for its integration into gaming are limitless. Developers are exploring innovative use cases, such as NFT-based ownership of in-game assets, cross-platform interoperability, and decentralized gaming economies. Additionally, major gaming companies are beginning to recognize the potential of NFTs, signaling a broader adoption and integration of this technology into mainstream gaming.
However, challenges such as scalability, sustainability, and regulatory concerns remain significant hurdles to overcome. As the NFT gaming market matures, industry stakeholders must address these challenges collaboratively to ensure a sustainable and inclusive ecosystem for players, collectors, and developers alike.
NFTs are revolutionizing the gaming industry, offering a new paradigm for collecting, trading, and playing digital assets. For collectors, NFTs provide a secure and transparent way to acquire and showcase rare in-game items, while players benefit from enhanced customization, rewards, and engagement opportunities. As NFT technology continues to evolve, its impact on gaming is poised to grow, driving innovation, creativity, and community-building across the gaming landscape.

 

Link: https://www.analyticsinsight.net/nfts-in-gaming-tools-for-collectors-and-players/?utm_source=pocket_saves

Source: https://www.analyticsinsight.net

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Web 3.0 gaming isn’t just about asset ownership – it’s much bigger https://www.fintechnews.org/web-3-0-gaming-isnt-just-about-asset-ownership-its-much-bigger/ https://www.fintechnews.org/web-3-0-gaming-isnt-just-about-asset-ownership-its-much-bigger/#respond Fri, 15 Mar 2024 08:33:31 +0000 https://www.fintechnews.org/?p=30280 By Jack O’Holleran People think they know the value of Web 3.0 gaming – that it’s all about users owning their own in-game assets as non-fungible tokens (NFTs). This view is the most common misperception in the space, and it’s flat-out wrong. Ownership matters, but limiting the value of Web 3.0 gaming to ownership misses the full […]

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People think they know the value of Web 3.0 gaming – that it’s all about users owning their own in-game assets as non-fungible tokens (NFTs).
This view is the most common misperception in the space, and it’s flat-out wrong. Ownership matters, but limiting the value of Web 3.0 gaming to ownership misses the full picture – the potential for blockchain-based incentives to expand the gaming industry beyond even its current size.

Web 3.0 driving a world of monetization models for gamers

The innovation that is getting far less attention could be far more valuable – a world of monetization models for gamers, game builders and the communities that support them.
Right now, game developers have limited points of sale to reach both experienced gamers and casual ones. They may sell their game through a console, an app store or a service like Steam, for example.
But what if they could multiply their storefronts to include the entire internet, monetizing thousands and thousands of virtual spaces?
Consider the possibilities for developers if they were able to capture not just the new game market – but also the secondary resale market so that they receive a portion back for each new user interacting with the game.
Games built on the blockchain are able to access a market so much larger than their current one, giving creators the ability to reach far more than they previously could.
It’s the difference between only being able to sell your game in a closed system, such as a single app store, and being able to sell it through a Shopify site that can integrate with every app and marketplace on the internet.
Consider this year’s League of Legends World Finals, where VIP guests were given a badge that, on the front of it, gave an ominous warning – anyone who sold or transferred that badge to another person would be immediately banned from the event.
That’s the current gaming economic model, intensely focused on keeping as strict a user moat, and as tight control over your closed game ecosystem, as possible.
Under a more open, blockchain-enabled economic model, you could create that VIP badge as an NFT.
Event organizers, instead of trying to restrict access, could instead let VIP holders sell that ticket to anybody, and each time it sold, the organizers would earn another five percent of that ticket – resale value they weren’t able to harness before.
Smart contract-enforced royalties allow creators to receive compensation each time their digital assets are bought, sold or traded, ensuring fair compensation and long-term benefits – an economic innovation most game developers could benefit from.
NFT assets are good for the gamer/purchaser of that NFT. If the owner no longer has use for it, then they can get a portion of their money back.
And those blockchain assets are also good for the devs, who get that royalty, allowing them to monetize their assets wherever things are sold, while also making it easier for them to grow their community of supporters.
Although most prominent Web 2.0 games feature in-game digital currencies, they lack the economic guarantees inherent to Web 3.0 games, such as publicly accessible information on quantity, inflation and reward schedules.

Expanding the possibilities of in-game asset ownership

If you own an NFT, you also own a history of that ownership and all the traits of that asset are stored on the blockchain.
If you are playing a Web 2.0 game, then you do not ‘own’ anything you earn or purchase in the game, outside of that game server.
This essentially makes all game assets temporary ‘IOUs’ from game developers – and particularly nebulous ones, since in-game currencies or assets often collapse as soon as the server/game they exist in is no longer supported by its makers.
Future generations of gamers are likely to prioritize true ownership of digital assets that NFTs offer over the mere IOUs provided by centralized Web 2.0 servers.
And that is a truly valuable proposition for those gamers and game developers interested in playing and building on the blockchain – especially when combined with the expanded economic models for gaming made possible by the advent of blockchain.

 

Link: https://dailyhodl.com/2023/06/14/web-3-0-gaming-isnt-just-about-asset-ownership-its-much-bigger/

Source: https://dailyhodl.com

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