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Finance NFT

The 8 Best NFT Marketplaces to Explore Right Now

As the landscape continues to expand, there are a ton of NFT marketplaces to choose from, and each provides its own unique niche for discovering upcoming projects. Whether you’re looking to buy art or some other form of collectible, here are the best NFT marketplaces:

What to consider when looking for the best NFT marketplace:

There are a variety of factors to consider when selecting which NFT marketplace will be the best for you. The first thing to consider is which marketplace will provide the best option for the currency you are using. 

Currency:

Some marketplaces offer both Fiat (USD) and cryptocurrency options ($ETH, $M0ATIC, $WAXP, $BSC, $XTZ, $SOL). Some marketplaces only allow a certain number of crypto wallet integrations like Metamask, Rainbow or Wallet Connect. NFT marketplaces that use currencies other than $ETH might have an entirely different crypto wallet. For example, HEN requires a Temple wallet to exchange in Tezos $XTZ. Currently, the most common Web3 platforms will use $ETH. 

Type of NFT:

The second thing to look for is the type of NFT that you want to buy—whether it’s sports NFTs, music NFTs, collectible NFTs or art NFTs. When choosing a project, there are a lot of options to consider and some NFTs crossover from one to another. For example, a lot of art NFTs also exist in the collectibles category because of the large number available—the most popular being 10k PFP (profile picture collections). The most famous one of these 10k collections is Cryptopunks by Larva Labs, which also happens to be one of the most historical NFTs originating in 2017. 

Gas Fees:

Each NFT Marketplace’s fees to transact on their platform vary slightly. When you purchase an NFT, you will need to pay a transaction fee for each NFT that you buy. Some platforms charge more of a fee than others. You can use pumpmygas.xyz to monitor each platform’s fee for buying, selling, and minting NFTs.

What is the biggest NFT Marketplace?

OpenSea is the current front runner for NFT marketplaces with over 200,000 active monthly traders, and almost a 3.5billion in sales volume during the month of August. 

1. OpenSea

Pros

  • Collections, one of ones
  • Lazy minting (low transaction cost)
  • Supports ERC-721s/ERC-1155s
  • Artist royalties are customizable

Cons

  • Not decentralized
  • 2.5% fee

OpenSea is the current leader as one of the best NFT marketplaces because of the variety they offer to artists, collectors, and traders. Their marketplace boasts a variety of opportunities for artists to list their artworks through a process called ‘lazy minting’ where it is free to create NFTs after paying the one-time transaction fee to set up an account. Meanwhile, collectors and traders experience the minimal 2.5% fee that OpenSea takes on each transaction, which is extremely competitive across all marketplaces.

In addition to the variety of NFT opportunities they offer to collectors and artists, they also have a quick way to view the activity for each collection listed on their platform which aggregates all the data from the collection and quickly provides a variety of information like floor price, highest last sale, and the total overall trading volume for a collection. 

Like most NFT marketplaces, there is no option to purchase NFTs with USD or any other fiat currency, and you must sign in to the platform by connecting your crypto wallet. OpenSea offers a wide range of wallet support; the list can be viewed on their website.

One con of the marketplace is that it is not decentralized, and because of that there is a concern within the artist and collector community of marketplace manipulation. 

Visit OpenSea by going to Opensea.io.

2. SuperRare

Pros

  • Art one-of-ones
  • Art curation
  • $RARE token DAO
  • Supports ERC-721s

Cons

  • 15% fee
  • Invite only
  • 10% artist royalties

One of the top NFT marketplaces for fine art is SuperRare, which launched in 2018 and has amassed over $90M in NFT art sales to over 1400 artists on their platform. The platform is exclusive and curates artwork by some of the most popular NFT artists and traditional artists who are looking to enter the world of NFTs. In addition to that, SuperRare also has a strong roster of collectors who have collected some of the highest-selling one-of-one art NFTs of all time. 

SuperRare is most popular for the one-of-one art that the marketplace offers, and they provide a lot of support to tell the story of the artists that they curate. SupeRare’s seller fee is 15%, which is one of the higher fees for NFT marketplaces 

Recently, SuperRare announced their rollout of SuperRare 2.0, which introduced the $RARE token, effectively turning over the control of the future of the platform to the creators and collectors who have made the marketplace what it is today. This effort to decentralize their marketplace allows for new opportunities and a diversity of voices to advocate for their platform. 

Learn more about the $RARE token here, and visit SuperRare at superrare.com.

3. Foundation

Pros

  • Art one of ones
  • Art curation
  • Supports ERC-721s

Cons

  • 15% fee
  • Invite only
  • Not decentralized
  • 10% artist royalties

As another leader in NFT art curation, Foundation offers a wide range of art to its collectors, and recently allowed compatibility for 3D artwork to be minted as NFTs. Founded in February 2021, Foundation is one of the newest NFT platforms focused on the creator economy and creators have earned $120M. Foundation is an invite-only platform for artists, but each artist gets a variety of invites to give out to the community each time they sell an artwork. Meanwhile, collectors can search through the platform’s featured artwork and place bids on available artworks. When a collector places a bid and meets the artist’s ‘reserve price,’ a 24-hour auction begins which often results in some exciting bidding wars between collectors.

Foundation’s seller fee is 15%. 

Visit Foundations website at foundation.app.

4. Rarible

Pros

  • Collections, one-of-ones
  • Art curation
  • Decentralized DAO
  • Custom contracts
  • Supports ERC-721s/ERC-1155s
  • Artist royalties are customizable

Cons

  • 2.5% fee

Founded in 2020, Rarible is an NFT marketplace that offers a ton of opportunities for one-of-one NFT creators. Rarible’s governance is headed towards being completely operated as a DAO, through which the community actively participates to vote on new initiatives to expand the platform. The platform introduced $RARI governance token that rewards creators and collectors for buying and selling NFTs on the platform and enables the users of the platform to influence decisions. 

The front page of the marketplace features the top collections, hot bids, and community-curated collections.

Visit Raribles website at Rarible.com.

5. NiftyGateway

Pros

  • Collections, one-of-ones
  • Art curation
  • Supports USD purchases
  • Supports ERC-721s/ERC-1155s

Cons

  • 5% fee
  • Not Decentralized
  • 10% artist royalties

NiftyGateway is an NFT marketplace that teams up with top creators to release limited NFT drops to the public. They are also one of the larger curated NFT platforms that enable users to purchase NFTs with USD. The platform is centralized and hosts the NFTs within their own platform until the collector decides to export them to a personal wallet. The platform was created in 2018 and has recently partnered with popular NFT collections for secondary market trading. 

You can view the current curated drops on their website niftygateway.com.

6. KnownOrigin

Pros

  • Collections, one-of-ones
  • Art curation
  • Artists may apply to be on the platform 
  • Supports ERC-721s/ERC-1155s

Cons

  • 3% fee
  • Not Decentralized
  • 10% artist royalties

KnownOrigin was founded a little over two years ago and started as a pop-up gallery event in Manchester. Now KnownOrigin is known as a premier art marketplace that showcases a variety of creators. The goal of the platform is to create a community-operated and owned platform that will establish itself as a marketplace for the future of Web 3.0. The platform accepts the artists they feature through an application process that requires each artist to create a profile first. 

Visit KnownOrigin’s website at knownorigin.io.

7. AsyncArt

Pros

  • One of Ones (Masters and Layers)
  • Art curation
  • Artists may apply to be on the platform 
  • Supports ERC-721s

Cons

  • 10% primary sale fee, 1% secondary 
  • Not Decentralized
  • 10% artist royalties

Launched in February 2020, Async Art is an NFT marketplace that allows its users to create, collect, and trade programmable art. The NFTs can evolve over time and react to its owners, in addition to many more possibilities. So far the platform has seen over $11.4M+ in bidding and $4.3M+ in sales volume.

The system features a unique one-of-one interface through which collectors who buy NFTs on the marketplace can update the artwork through a system of ‘layers,’ which then affects the original ‘master’ created by the artist. 

The website can be visited here: async.art.

8. Hic Et Nunc (HEN)

Pros

  • One of Ones and Collections
  • Artists may apply to be on the platform 
  • Artist royalties are customizable
  • Decentralized
  • OBJKTs format

Cons

  • The user interface is difficult to navigate at first

Hic Et Nunc is an NFT marketplace alternative that uses the Tezos blockchain. Tezos $XTZ is a Proof of Stake blockchain that allows quick, affordable, and sustainable transactions which compete with the current Ethereum blockchain’s hefty gas fees. Hic Et Nunc is an NFT marketplace alternative that uses the Tezos blockchain.

Sustainability is a constant topic of conversation in the world of NFTs. As we await the launch of ETH 2.0 and an ongoing transition to Proof of Stake platforms (as opposed to Proof of Work), HEN is a great place to start. HEN provides artists the ability to customize their profiles and offers collectors the ability to collect artwork for a fraction of the cost of other platforms. The only drawback is that the HEN ecosystem takes a bit of technical know-how to navigate at first.

For collectors who seek to collect NFTs in a sustainable way, HEN provides the solution.

Begin exploring HEN on their website: hicetnunc.xyz.

Categories
Finance NFT

The NFT Copyright Conundrum

As the NFT market continues to boom, it is important to keep in the mind the various legal issues that might arise in the not-so-distant future. OpeanSea continues to report exponential increases in its volume over the past month, and it is likely this increase will only continue. But with all this new volume, comes more risk and potential copyright issues.

What is Copyright?

Wex Legal Dictionary defines copyright as: “The exclusive legal right to reproduce, publish, sell, or distribute the matter and form of something.” Merriam-Webster defines it as: “the exclusive legal right to reproduce, publish, sell, or distribute the matter and form of something (such as a literary, musical, or artistic work).” Basically, copyright gives someone ownership over their artistic work which in turn protects their work from being stolen, reproduced, and sold for profit without their permission. 

Typically, copyright is an automatic right that attaches as soon as an original work is created, but that does not mean the original owner can enforce that right. You would have to register a copyright with U.S. Copyright Office to receive protection, which includes the ability to sue someone for infringement. When it comes to NFTs, this leaves the door wide open for people to take images that have not been registered and make money from them, leaving the original owner with little means of recourse.

Is it Authentic?

Typically, an NFT’s origin can be traced back to its original owner through blockchain verification, but that does not mean the original underlying image or asset belongs to the person who initially listed the NFT for sale. For example, someone who wants to jump in on the pixelated art trend can simply google “pixelated ape,” save that image to their computer, then list it on any NFT platform. This can be a problem for many reasons. 

First, just the act of taking someone else’s artwork and attempting to pass it off as their own is a copyright violation. Second, this can cause issues down the road for investors and anyone who bought and sold an NFT that violates copyright. If the true owner of the underlying image finds out that their original artwork is being sold for profit, they will likely have a claim against the person who listed the NFT and potentially anyone else who made money from it. Not only may this cause legal issues for investors, but there is a good chance they will lose a lot of money on their initial investment. Once people realize the NFT is not an original work, the NFT will likely plummet in value.

Protecting Your Investments

Investors should always do their due diligence before buying a piece, and this means ensuring the original image or underlying asset truly belongs to the artist selling the piece. Since there are literally millions of images floating around the internet waiting to be grabbed up and sold as an NFT at any moment, this might not be as easy as it seems. A good way to verify an NFT’s authenticity is to do research on the artist who listed it. If you see the artist is active on social media, has been creating art for many years, and has a large portfolio, it is more likely their pieces are authentic. Anyone who is serious about investing in NFTs should absolutely take the time to do research, and those who plan on investing large sums of money might even consider consulting a lawyer.

The “Fair Use” Argument

The Fair Use doctrine permits limited use of copyrighted material without having to first acquire permission from the copyright holder. There is still a question of how this applies to NFTs. Fair use typically allows someone to use a copyrighted work without permission for purposes such as criticism, news reporting, teaching, research, and parody. Courts use several factors to determine whether something is considered fair use, including whether something is considered “transformative.” A transformative use is one which adds something new and is used for a further purpose or meaning, not just an exact replica of the original work. This is an interesting consideration when it comes to NFTs, since NFTs in and of themselves are an entirely new concept. Does this mean that merely turning something into an NFT is transformative in nature? Does putting something on the blockchain completely transform its purpose and meaning? Only time will tell…

The Future of NFT Legalities

As of now, we are still in a sort of legal gray area when it comes to NFTs since this is all relatively new, and there are no landmark cases which can provide guidance on this subject. There are many unanswered questions when it comes to NFT copyright, ownership, and digital contracts in general. For example, if someone sells an NFT that doesn’t necessarily mean they are also selling their copyright ownership in that piece to the buyer through the sale. Every NFT selling platform has different material terms. As the NFT space continues to grow we can expect to see new information on NFT laws and how they fit into the intellectual property world. We can also expect to see more lawyers specializing in smart-contracts and NFTs. For now, make sure you do your research and protect your investments.

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Finance NFT

The Past Week in Crypto Adoption: September 1st to September 8th

Welcome to the second edition of “The Past Week in Crypto Adoption,” a weekly recap of companies, institutions, organizations and individuals who are beginning to adopt crypto as a payment/work platform. With the crypto industry becoming more and more dynamic, this weekly report is meant to help you stay in the loop. The last few days saw crypto becoming more mainstream and being implemented by some of the world’s most prominent organizations across different industries.

1) Steph Curry buys his first NFT

Global superstar NBA player Steph Curry has officially entered the crypto world, specifically the NFT world. He bought his first NFT, a Boring Ape Yacht Club. This purchase from the 3 time NBA champion has just added fuel to the fire that is the NFT hype. He even asked for advice regarding crypto in his Twitter, confirming that this is probably a long term interest of his. An NFT purchased from one of the world’s most famous athletes will surely make NFTs even more popular, and is one more reason for NFT aficionados to be excited.

2) Twitter will reportedly allow users to add their Bitcoin and Ethereum addresses to their profile

Twitter has been making a push to bring new features and revenue streams by focusing on the creator economy. Features such as “tipping” a creator through mainstream apps such as Cash App (owned also by Jack Dorsey’s Square) and Paypal have been pushed to most of its users; it seems that now Twitter is going one step further by enabling creators to receive Bitcoin and Ethereum. This was first reported by renowned leaker @alex193a. This move seems logical, as Twitter’s co-founder and CEO Jack Dorsey has been increasingly more involved in the cryptocurrency and blockchain space, even announcing plans to release a decentralized version of Twitter named “Bluesky”.

3) Dolce and Gabbana prepares to release luxury NFT

The total volume and money spent in the NFT market are increasing every day. Platforms like Opensea are constantly boasting record numbers. While NFTs have been released by a huge number of artists—both indie and mainstream—a question remained: how will major artistic brands truly embrace non-fungible tokens?. It seems that Dolce&Gabanna is answering this question, as they prepare to launch their NFT collection auction on 9/9/2021. The NFT collection consists of digital-only clothing items. After it’s displayed, the collection will be launched for auction on 9/9/202, with the bid done in collaboration with marketplace platform UNXD. Described as “the first luxury NFT” and as a “bridge between the physical and digital world,” this collection is expected to represent another major step towards massive adoption for NFTs and crypto.

4) El Salvador prepares to accept Bitcoin as legal tender

As of 9/7/2021, El Salvador will officially accept Bitcoin as legal tender, becoming the first country to do so. El Salvador’s President Nayib Bukele became viral a few months ago when he started tweeting about Bitcoin, only to be joined by other politicians in El Salvador a few weeks later. As El Salvador’s president showed in a recent retweet, the goal from this adoption is to reduce fees the citizens of this country have when they receive remittances from family members who live in other foreign countries. While a majority of the public polled spoke against it (arguably because they are uniformed regarding Bitcoin and cryptocurrency in general), this move has created a lot of hype in crypto circles because people will get to see in practice what has been preached in theory for a long time: Bitcoin may help to reduce inequality, especially regarding remittances. The International Monetary Fund has spoken against this move, and is negotiating a new loan for El Salvador. This is a story to keep watching.

5) Bitcoin miners meet with oil and gas executives in Houston to power mining rigs with natural gas

After China banned mining Bitcoin, all those miners had to go somewhere to compensate for their losses and start somewhere new—with profitability in mind. Cheap energy is the number one factor miners look for, and they might have found just that by solving another problem in the meantime. Bitcoin miners held a meeting with energy executives, explaining to them how—instead of wasting the natural gas they find, and risk letting it become an environmental hazard—they can use that gas to power Bitcoin mining rigs. This solution solves two issues at the same time. Texas is seen as a key player in the mining industry after the China ban, and with its pro-crypto regulation and loose legislation on energy, it is poised to become a leader. 

6) Twitter starts using the Lightning Network for “Tips”.

Twitter’s Head of Product Kayvon Beykpour announced that Twitter will soon start using the Bitcoin Lightning Network for its “tips” feature, enabling followers to send BTC instantly to their favorite Twitter account with fees that are smaller than those of the banks, as well as instant transfer time. That is at least, in theory, how the transactions should proceed. There are some videos of bars in South America already using the Lightning Network, so the excitement around this feature is huge and has the potential to be very disruptive.

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Finance NFT

The Thing That No One Wants To Talk About in NFTs

So far, everyone wants to talk about the fun things when it comes to NFT’s. But there is a larger conversation that needs to be held in regards to the legal implications in this growing space. 

As people buy, sell, and trade NFT’s, these assets will become important plot points in your tax records. With this being such a new market, there are a lot of questions and uncertainties about how these assets will be viewed during tax season. 

There are only four months left in the year and we need to remember that taxes WILL BE A THING. 

This week, I had a meeting to talk about the tax implications on NFT’s. They specialize in major gains taxes, which can increase liquidity, and push off the required tax payment. For example, let’s say you buy an NFT for ten grand. You sell it for a million. You would owe the government about 500,000. Half. Yes, half a million. Let that sink in. 

With this method, you could keep the full million and push the tax consequence down the road. 

Do you think you could make 500,000 dollars over the next 30 years if you already had a million? Yes. Of course. With a bond alone, you could accomplish that. 

These are just a few things to keep in mind as we approach the end of the calendar year. 

If yall have questions, I’d love to answer them on twitter, @jacksettleman. 

Now, if you want to keep that NFT over the next decade or so. You will want to keep it secure. 

This is how you do it. 

When it comes to NFT security, we haven’t really faced much of a threat when it comes to criminalization in this market.

However, this month, we had the first story to break in regards to a stolen NFT product. The amount in jeopardy? 600 million. Woah. 

An important thing to do would be to write down your Metamask account information and store that somewhere safe. 

Another you should do to protect your asset is to connect with your ledger or trezor. These are offline storage devices. 

These are things you may want to keep in mind when it comes to protecting your NFT’s. It is safer to be ahead of stuff than it is to be reactive to a problem. 

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Finance NFT

The Past Week in Crypto Adoption: August 23rd to August 30th

Welcome to the first edition of “The Past Week in Crypto Adoption,” a weekly recap of companies, institutions, organizations and individuals who are beginning to adopt crypto as a payment/work platform. With the crypto industry becoming more and more dynamic, this weekly report is meant to help you stay in the loop. The last few days saw crypto become more mainstream and used by some of the world’s most prominent organizations across different industries.

1) New Zealand’s third largest hydro-power plant is planning to mine Bitcoin

A hydro-power plant in New Zealand, which provides 100% renewable energy, is planning to use its excess power to power a data center which mines Bitcoin. This plant is located in the Clyde Dam near the Clytha river. Considering the fact that this is the third-largest power plant in New Zealand, it represents a major shift in how Bitcoin is perceived and demonstrates a growing commitment to alleviating the environmental impacts of crypto.

2) Visa buys an NFT

This is the big story from the last week and change. Visa—the world’s second-biggest credit card transactions company with a 6 $trillion volume—bought a CryptoPunk. CryptoPunks is an NFT collection widely credited with bringing NFTs into the mainstream this year. Visa specifically bought CryptoPunk#7610. Visa’s announcement on Twitter caused waves across the internet, including a rise in the floor price of CryptoPunks and NFTs in general. 

3) Swiss Luxury Hotel owned by billionaire starts to accept crypto payment

The Chedi Andermatt, a five-star luxury hotel owned by Samih Sawiris, will now allow guests to use Bitcoin and Ethereum as payments. The Swiss Alps-based hotel has stated that it will consider other cryptocurrencies in the future too. The fact that a five star luxury hotel—in which one night costs thousands of dollars—is accepting Bitcoin and Ethereum is major news, as it shows that acceptance is reaching high end corporations as well as clients.  

4) Second-largest US mortgage lender will accept Bitcoin

United Wholesale Mortgage announced that it is planning to allow customers to pay for their mortgage in Bitcoin by Q3 of this year. While the company has not made it clear whether they will hold the Bitcoin in their balance sheet or convert it into fiat money, the fact that the second biggest company in the US in an industry as delicate as mortgages sees Bitcoin as feasible is a sign of things to come for crypto.

5. Serie A and Crypto.com announce partnership

Serie A, Italy’s premier proper football league, and Crypto.com, a cryptocurrency exchange with over 10 million users, are partnering up. Crypto.com will serve as the official “Innovation &Technology Partner of Italian Football”. Because Serie A is one of the world’s most popular proper football leagues, this is a major step in making cryptocurrency more mainstream. 

6) PSV Eindhoven will accept its sponsorship entirely in Bitcoin

Dutch Club PSV Eindhoven announced that it will become the first European club to accept its entire sponsorship in Bitcoin. The deal is reportedly worth close to 500,000 Euro annually. The sponsor, Anycoin Direct, is a crypto broker based in Europe. This marks another step towards crypto innovation, as PSV had previously sold an NFT, which was a tribute to its 1998 victory in the European Cup.

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Finance NFT

Everything You Need to Know About NFT and Wallet Security

In the world of Web 3, crypto and NFTs, prioritizing security is the most important move you can make. There is a ton of malware that users are susceptible to every day that they are using their phones and computers. 

If your devices are targeted and compromised, you will lose everything.

This is why it is paramount to take the proper precautions to secure your devices, your wallet and—most importantly—your seed phrase. 

Every time you log on to your computer, expect that you are susceptible to attacks. There is always someone looking for vulnerabilities, willing to take advantage of the platforms users interact with daily. The best way to secure your wallet is to take the proper measure to protect yourself.

Best Practices for Wallet Security:

Every time you register your wallet, you get a seed phrase. A seed phrase is a 12-24 word phrase that is your way to accessing your wallet anywhere from any device. It is the KEY. Make sure your seed phrase is written on a piece of paper and that you have more than one copy. (If you ever lose one, you have another). For additional security, you can split your seed phrase in half and store it in two separate locations. That way, if one place ever becomes compromised, no one will be able to access your wallet. 

Never store your seed phrase on a computer where hackers can access it, and never screenshot or take a photo of your seed phrase.

To reiterate: NEVER, EVER store your seed phrase on your computer/devices where hackers can access it. 

Never type in your seed phrase. Never share your seed phrase with anyone. 

You can also store your seed phrase using something more resilient than paper—like a cryptotag: https://cryptotag.io/

In Metamask, there are three ways to externally access/import full control of your wallet.

-Seed phrase

-Private Key

-Private Key QR code.

They can be found in your Metamask settings. Never share them with anyone. 

Use a Secure Hardware Wallet:

The most secure way to secure your crypto is by using a hardware wallet. 

If you are buying/selling/creating NFTs, cryptocurrency or any digital assets, the most secure place to store them is in a hardware wallet. Buy one or more hardware wallets. 

Suggestion: Ledger Nano

Read more here.

Never buy a hardware wallet from secondary vendors or Amazon. These are susceptible to supply chain attacks in which hackers compromise the wallets when someone purchases a resold wallet. Always buy directly from the website. 

Strategies to identify and avoid scammers:

Scammers get more creative each day, and try a variety of phishing and hacking techniques to get you to hand over your information. The seed phrase is the heart of your wallet, but your actions are what protect it. Even the most tech-savvy individuals fall to traps set by scammers.

You need to stay educated and aware of the digital landscapes you interact with daily in order to adapt and avoid scams. 

Some of the most common places scammers go to target you are Twitter and Discord. There are a variety of fake Metamask support accounts, Opensea support accounts and others that are deceitful and have creative techniques to get you to sign over your information. If you are ever suspicious that you are at risk, consult others and the community before trusting anyone blindly. There are many accounts that also impersonate influencers on social media that ask for you to send them money or share your passwords and other information. Double and triple-check before engaging. Even if the account has 1 million followers, it might be a scam. 

Official accounts like Metamask, Opensea, and Ledger will never ask you for your Seed phrase. 

On Discord, similar accounts will reach out asking for your information, or to click on a link for giveaways/sales. Never click on a link if you do not know who is sending it. It does not matter if it is your favorite celebrity. Discord scammers will copy the exact profiles of twitter influencers, project founders, celebrities, moderators and developers. The real accounts will never ask you for your seed phrase, to send them ETH or to fill out a form. Do not engage with them. 

A foolproof way to legitimize an account reaching out to you on discord is to message them on their official Twitter account. Slow down, and follow up with every single message to verify that who you are interacting with is who they say they are. 

Additional steps to follow to secure your accounts:

Protect your passwords.

Never store your passwords on your browser. When a site asks you to save your password, never accept.

The best way to protect your passwords is to write them down and store them offline. If you are using a password manager, never store your recovery data on your computer. Always print out or write down all recovery data on multiple copies of paper and place them in more than one safe place.

Enable 2FA on all of your accounts.

Using 2FA (two-factor authentications) is the best way to make sure no one can access your accounts without your permission. 

Do not use SMS authentication if possible. Sophisticated attacks can compromise your phone.

Read more here.

Never share your computer screen with anyone.

Sharing your computer screen through a live feed or screen shots can make you vulnerable to a variety of attacks.

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Finance NFT

Visa Enters the NFT Space with Purchase of CryptoPunk 7610

On the morning of August 23rd, Visa announced on Twitter that they are stepping into the world of NFTs by acquiring a CryptoPunk for 49.5 ETH ($149,939). Their purchase of CryptoPunk 7610 is one of 3840 female punks in a collection of 10,000 Cryptopunk avatars. Other celebrities recently joined the Cryptopunk community, including JayZ, OBJ, Logan Paul and FaZe Banks. In addition, major auction houses like Sotheby’s and Christie’s both sold CryptoPunks for record sales prices. The highest sale of a CryptoPunk to date is one of the 9 alien punks that sold for 4200 eth ($7,570,000).

In their Twitter announcement, Visa stated that they have built a collection of historic commerce artifacts and that this purchase signifies a new era of NFT-commerce.

Visa goes on further to elaborate on their strategy around NFTs in their white paper, “Commerce is evolving, and innovations such as crypto and NFTs are likely to shape sports, entertainment, and other communities going forward. NFTs represents a deeper and more innovative way for fans to engage and potential new revenue streams for organizations.”


This news comes in the midst of what the NFT community is calling “JPEG summer” (even though NFTs are largely PNGs). With generative artwork selling for over seven figures, and some of the oldest NFT projects on the Ethereum blockchain selling into the hands of crypto enthusiasts like Justin Sun, corporate eyes are turning to the emerging marketplace of NFTs.

Visa’s announcement is not the first of its kind by a large company. Epic Games announced their new $1 billion funding round to support the future growth and long-term vision of the metaverse in the spring. Mark Zuckerberg, the founder of Facebook, also recently announced his ambitions to create a metaverse.

Many brands are currently figuring out their strategy for entering into NFTs, while brands within the NFT community are quickly scaling to become giants of their own. 

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Finance NFT

What NFTs Look Like in 5 Years, According to Jack Settleman

NFTs are pumping. The Crypto market got a resurgence and BTC is back up to above $40,000. 

All of this excitement is great. People are becoming interested and are taking notice of this market. But with that excitement, there are a lot of overreactions occurring.

So let’s look at the next five years. 

Something that has made headlines over the past weeks is Axie Infinity

Axie Infinity, giving people from 3rd world countries the opportunity to make money, has made a billion dollars over the last month. It is inspired strongly by the structure and style of Pokémon. You get to collect characters, they get into battles, and have their own attributes. 

But something I have been thinking about a lot is where NFTs are going. And where will they be in 5 years? 

A game like Axie doing a billion dollars is nuts. But five years is so far away. So much can change in that time. While I am in awe of what they have accomplished, the reality is that the graphics are mediocre. And not just that, but the gameplay is mediocre. And when you put it in comparison to what is available on Xbox, Playstation, etc… Even without “trashing” the game, it is a more simple concept. 

Cryptopunks

I think Cryptopunks are a lock for the future. They were first. And if that isn’t enough, the owners of these Cryptopunks are all important figures. 

Larvalabs created them. As the company that is responsible for them, it is possible that they could screw things up to ruin their brand recognition? While I don’t think it is likely, I do think it is possible. 

TopShot

When looking at the things that TopShot has going for them, there is one thing that stands out among the rest. They are partners with the NBA. A major staple in world culture. That feels like it would be a safe bet.

But when you purchase a Top Shot moment, you are making three bets. You are betting on Dapper Labs to create a good product. You are betting on the NBA to remain a relevant part of society. And you are betting on Lamelo Ball to be a rockstar of similar status in 5 years. 

Zed

While observing the big picture of Zed, I think one of the things that is a strong point for them is the history of horse racing. For hundreds of years, horse racing has been around. And not just that, but gambling on horse racing is popular.

Now, they just got bought… but is their game THAT good? Could someone else come in with 50 million dollars and create a better game structure? Absolutely. 

It is tough to not be a prisoner of the moment with NFTs. It is 24/7/365. We get easily excited about what companies are building and creating. But think about things in 5 years. Is this something you would be comfortable to sit on for that amount of time and know that it won’t get to zero? These are all things to consider when looking at the larger scale of NFTs.

Categories
Finance NFT

August 13th’s NF3 Recap: DeadFellaz, Gutter Cat Gang, MetaHero Universe and More

Web3.0 moves pretty fast. We can’t possibly cover every single moment in the ever-evolving space, but we at ONE37pm are going to begin recapping big moments in the world of NFTs as they occur. “NF3” means 3 NFT moments every day, get it? From drops of developing projects to launches of new collections, here are a few big moments from Friday, August 13th to keep your eyes on.

This article does not constitute formal financial advice. Always do your own research before investing.

1. DeadFellazNFT

DeadFellaz drop sold out in under an hour today. This project is still brand new, but their team has linked a lot of interesting utility to the tokens, and the community around the project is rapidly growing. It’s a collection of 10,000 avatars, a la CryptoPunks, but, interestingly, none of the traits are explicitly gendered (which is the case with lots of other projects), allowing “all genders to find representation.”

It’s unclear exactly which traits hold the most rarity right now, but go ahead and browse the secondary market on OpenSea to familiarize yourself with the collection.

2. Gutter Cat Gang Announcements

Slow and steady wins the race. Gutter Cat Gang boasts over 50% unique ownership and has a solid base of die hard fans. Their original drop was only 3000 unique cats and—about a month in—they gave each Cat owner a Gutter Rat. News last night hit that if you own a Cat and a Rat, you’ll be airdropped a new unknown avatar. Transactions erupted on the floor starting at around .4 ETH and are currently sitting at .7. What’s even more impressive was the number of transactions above 1 ETH. GCG has also scheduled GutterCon in Vegas further strengthening the community.  

Shoutout Darren Ogoff for the assist on this one.

3. Pixel Vault Peek of MetaHero Universe

The folks over at Pixel Vault are always making crazy moves. You’ve got to really dive into to their Discord to keep up with everything going on; between the Punks Comic and MetaHero Universe, there’s a lot to read up on.

Head over to their website to read up on the universe; the exact release date is still unknown but set for some time this month. Here’s a blurb from their site explaining the project:

“Home to the MetaHero Identities, MetaHero Universe is comprised of 10 planets to be owned and governed by their respective planetary DAOs. Each NFT represents one share of planetary DAO membership. As a social and gaming platform, the MetaHero Universe will allow supporters to be more than just holders: the community will collectively own, develop, and manage the universe. Each planet will be its own unique, interactive environment, providing revenue opportunities to the DAOs and players via land-based sales, environmental resources, wearables, gameplays, and more.”

Other stuff to watch:

CoolCats announced a collaboration with TIME, which is taking the form of a meme submission competition. The winners of the competition will receive one of the pieces from the partnership. Check their site for all the info on the competition, which is live form now until next Friday.

There’s also been a big floor sweep going on today following the news, so Cool Cats continues to be one of the hottest projects in the game right now.

The Treeverse Alpha from Loopify is still pretty new (it’s closed right now), but definitely a cool game to read up on this weekend.

Billed as “The RuneScape of Blockchain Games,” the alpha looks really interesting and, with NFT games gaining tons of popularity, this is definitely worth following.

Of course, there’s a lot more than just the above happening in the world of Web3.0, so keep your eyes peeled for good looking projects on the horizon. And remember that—with all NFT projects—community matters.

Categories
Finance NFT

Five OG NFT Projects to Watch: CryptoKitties, Decentraland and More

In the first half of 2021, the total market capitalization for NFTs was $2.5 billion. In July alone, sales spiked to $1.5 billion, and in the past 24 hours (as of August 8th), 42,242 NFTs were sold for $79,120,000.

There’s a lot of excitement (and money) going into new projects, but there’s an alternative trend that’s been more loudly growing the past week: the rediscovery of historically significant NFT projects.

CryptoPunks paved the way for this rediscovery in light of its recent market explosion as it originally held the title for the first Ethereum blockchain NFT.

Released in June 2017, the collection of 10,000 unique avatars has an all-time sales volume of 302,337.06 ETH. That’s more than 3x the volume of the #2 project on OpenSea’s top NFT list.

In January of 2021, the project’s sales volume was $6,094,519.47, and 8 days into August, the sales volume is at $159,390,063. The average sale of a CryptoPunk went from $96,902 in June to $173,463 in August, a 79% increase. 

This has prompted people to go back in time and look at early projects that offer historical significance as a hedge against the exploding supply of new projects:

https://twitter.com/harrybtc
HarryBTC

Below are the top 5 NFT projects released in 2018 and prior ranked by 7-day sales volume.

(1) Curio.Cards — Released: May 9th, 2017
$13.95 million Trade Volume
https://opensea.io/collection/curiocardswrapper
Opensea.io

Released in May of 2017, Curio.Cards is a collection of 30 different cards that each have a corresponding meaning. Not all cards have the same supply or artist, and there are several styles of cards for collectors to choose from. It is recognized by OpenSea as the “Oldest known NFT art project on Ethereum.” This title was transferred from CryptoPunks by OpenSea after Curio Cards was rediscovered.

And collectors are taking note. 

In the past 7 days, 3,508 assets from the project sold at an average price of $3,978: 

https://www.nft-stats.com/collection/curiocardswrapper
nft-stats.com

3 days ago, four Curio Cards set all-time record prices: 

https://www.nft-stats.com/
nft-stats.com

There’s a rich history behind the cards, the artists and the founders, as well as some of the technical aspects. The project was released so long ago that a new wrapper needed to be built to make them compatible with OpenSea.

Cards were originally distributed to buyers through a vending machine, hence the need for a modernized wrapper, and the first card in the set, the Apple, was the first ever NFT art sale on Ethereum:

https://opensea.io/assets/0x3c2754c0cdc5499df1a50d608d8985070bf87b30/1
OpenSea

Curio Cards currently have a floor price of 0.42 ETH and an active supply of 15,300 items owned by 2,100 wallets.

(2) Official Mooncats — Acclimated — Released: August 10th, 2017
 $4.71 million Trade Volume
https://opensea.io/collection/acclimatedmooncats
OpenSea

MoonCats was launched a few months after Curio Cards, on August 10th, 2017. The project originally allowed users to scan for the cats using a process similar to Ether mining. 

3,365 cats were “rescued” in the first 12 months of the project, but it wasn’t until a Twitter user re-discovered the project on March 12th, 2021 that the rest were mined: 

After this tweet on March 12th, 2021 about the project, all of the remaining cats were rescued within 3 hours

In the past 7 days, 1,862 Mooncats have been sold for an average price of $2,700: 

https://www.nft-stats.com/collection/acclimatedmooncats
nft-stats.com

There are 13,400 assets on OpenSea with 2,900 owners and a 0.79 floor price.

(3) CryptoArte — Released: July 13th, 2018
$4.1 million Trade Volume
https://opensea.io/collection/cryptoarte
OpenSea

CryptoArte’s NFTs (called paintings by the creator) are unique in that they are the first generative (an algorithm determined the look for each painting) art on Ethereum that uses the blockchain as the basis to generate the art. Using the blockchain as the foundation for generative art would later be used by Autoglyphs

The project tells the story of the Ethereum blockchain through images. Each painting consists of 576 blocks that correspond to a block on Ethereum. The blocks are of varying colors and symbols that visually represent what took place to produce that block. This includes unique icons representing each of the miners who mined the blocks, different colors to represent the difficulty to mine, and many other features.  

The first 10 NFTs were released on July 13, 2018 and the developer has continued to release the paintings in small batches up until today. When fully distributed, there will be 9,895 unique NFTs.

There are 471 known paintings that were minted in 2018 prior to AutoGlyphs and are generally considered the most valuable due to their historical significance.

The Autoglyphs project is recognized as the first-ever on-chain (fully contained on the blockchain) generative art project and has a floor price of 290 ETH. The eye-popping numbers are motivating people to give CryptoArte a second look. 

CryptoArte is the first generative art on the Ethereum blockchain, but it was not done fully on-chain. 

(4) Decentraland — Released: October 2018
$823,590 Trade Volume
https://opensea.io/collection/decentraland
OpenSea

This is the first project on this list that allows users to purchase virtual parcels of land to be used in a blockchain-based virtual world. The concept of Decentraland was first written about in March of 2017. 

It was released about 1 year later in October of 2018 and allows its users to buy, develop and sell their land. They can also meet up and interact in the space: 

Shibu / Decentraland

In the past 7 days, 95 assets sold at an average price of $8,700: 

https://www.nft-stats.com/collection/decentraland
nft-stats.com

For reference, these land parcels sold for about $20 each back in 2017. 

(5) CryptoKitties — Released: November 2017
$775,790 Trade Volume
https://opensea.io/collection/cryptokitties
OpenSea

The first demo CryptoKittie was revealed in October 2017 and launched with the concept of breeding. Each cat has a different “cattribute” that can be passed down to its offspring. 

CryptoKitties had some notable six-figure sales in 2017 and 2018 and was not as dormant as other projects on this list, as there were 3.2 million transactions on the smart contract in October of 2018. 

In the past 7 days, 1,769 assets were sold at an average price of $459:

https://nonfungible.com/market/history/cryptokitties
non-fungible.com

Key Takeaways:

The NFT market is heating up, but practical optimism and not spending more than you can afford to lose are both good ideas. 

3 out of the 4 top projects in terms of sales volume over the past 24 hours have gone to projects released in 2021 (some as recent as a few days ago). 


It may be exciting to get into new project drops, but given that there are 2,996 active projects on OpenSea.io (and growing) with just over 57,000 active wallets (buyers and sellers), these projects are worth a second look as they hold some scarcity due to their history.