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probablyasocialecologist · 7 months

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“Dead NFTs: The Evolving Landscape of the NFT Market” is a new report from dappGambl, a community of experts in finance and blockchain technology. Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH), the second most-popular cryptocurrency behind Bitcoin. In practical terms, that means 95 percent of NFTs wouldn’t fetch a penny today — a spectacular crash for assets that reached a trading volume of $17 billion amid a frenzied bull market in 2021. The study estimates that some 23 million investors own these tokens of no practical use or value.

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The “Dead NFTs” report observes that the nearly 200,000 NFT collections “with no apparent owners or market share” identified by the study caused carbon emissions equivalent to the annual output from 2,048 houses, or 3,531 cars.

#nfts #non fungible tokens #cryptoart #bitcoin #cryptocurrency

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dontmeantobepoliticalbut · 1 year

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This weekend’s episode of "Saturday Night Live" began with a skit poking fun at former President Donald Trump’s recently released, meme-worthy non-fungible token (NFT) collection.

“Seems like a scam and, in many ways, it is,” said James Austin Johnson, who played the 45th President in the show’s cold open.

While the mainstream media has eagerly picked up the story on the collection for its comedic value, the popularity of the Trump Digital Trading Cards has continued to climb since the collection dropped on Thursday, selling out within 24 hours.

According to data from OpenSea, the collection’s trading volume is 6,658 ether (ETH), or about $7.8 million at the time of publishing. Its floor price, which started at $99, has been hovering around 0.3 ETH, or $350.

The collection features 45,000 tokens in the style of baseball cards. In each collectible, Trump wears a different costume linked to rarity elements that allow users to enter a sweepstakes to win prizes like a zoom call with the former President or a cocktail hour at Mar-a-Lago.

In the wake of the project’s apparent success, internet sleuths have dug deep into the project and the parties behind the wallet addresses associated with Trump’s collectibles. Among the nuances and inconsistencies alleged on Twitter: the company that created the collectibles is hoarding a large amount of them; that the project poorly relies on stock imagery; and that most of the buyers opened new wallets without holding any cryptocurrency, sticking them with an NFT and no way to derive any future value from them.

THE STRANGE CASE OF 1,000 NFTS

Over the weekend, Twitter user @NFTherder noticed something strange about a large number of the rarest NFTs in the collection. The user posted a thread explaining the nature of the transaction data of the contracts involved in the mint.

According to data from Polyscan, Polygon’s version of Etherscan, a “Donald Trump Admin” wallet minted 1,000 tokens to a Gnosis Safe Wallet, a multisignature smart contract wallet that requires a handful of users associated with the tokens to approve of any asset movement.

While the Collect Trump Cards site said that 44,000 of the 45,000 tokens created in the initial series would be available for users to mint, it did not specify what would happen to the remaining 1,000 tokens. Where another project might save those assets for a later date to revive demand, data suggests that the administrative wallet holds the remaining minted 1,000 tokens.

After the collapse of Three Arrows Capital, the crypto-hedge fund backed NFT collection “Starry Night” moved its tokens into a Gnosis Safe wallet, along with other valuable assets. It was likely done out of caution to hold the assets in one place to prevent any singular actor from moving these out of the wallet.

The Trump Trading Card site specified that there was a “strict limit of 100 Trump Digital Trading Cards per purchaser/household,” meaning that an individual or a group who did not have to abide by the rules for the general public was able to pick up a large swath of the NFT pool.

In addition, the mystery wallet isn’t full of second-rate NFTs. It minted 26% of the rarest 1-of-1 tokens and 28% of the autographed trading cards, according to NFTherder. These are the most valuable and expensive assets in the collection, respectively comprising 0.4% and 0.16% of the total tokens in the collection.

NFTherder told CoinDesk that not only do the wallet owners have the ability to inflate the price floor of the collection, but they also could have the ability to rig the sweepstakes and alter the competition.

“If this was a 10,000 unit collection about monkeys, the whole discord would be blowing up about how this is a rug and a scam and that the team is holding one fourth of the most rare supply,” said NFTHerder.

THE CURIOUS MARKS AND MAKER OF THE ART

While people have been digging into the wallet addresses and collection sweepstakes, other Twitter users were delving into pop culture digital artist Clark Mitchell and the artwork he created for the collection.

On-Chain TV founder Morgan Sarkissian tweeted an image of one of the collectibles featuring the 45th president in a space suit that seemed to still have a visible watermark from Shutterstock.

She also uncovered an Adobe watermark in another token listed in the collection.

Other Twitter users have found inconsistencies in the artwork, with some of the creative assets used to build the collection apparently taken from stock images or Amazon costumes.

While Mitchell has worked on other projects such as artwork for Disney, Hasbro and Marvel, this isn’t his first NFT project.

Web3 researcher and Twitter user @Valuemancer uncovered that Mitchell also did the artwork for Sylvester Stallone’s SlyGuy NFT collection that never launched, according to the digital collectibles website.

The collection included similar creative assets, such as drawings of the actor paired with exclusive access to events such as the Ultimate Stallone Experience, a dinner hosted by Stallone for token holders.

Mitchell, Sarkissian, @Valuemancer and the SlyGuy NFT collection did not respond to CoinDesk by press time.

THE SHINY NEW WALLETS WITH NO CRYPTO

While NFT collections often attract a wide range of buyers with various stake in the game, Trump’s NFT collection had a large number of buyers that appear to be new to digital collectibles.

According to data from Dune Analytics, of the nearly 12,900 users that minted Trump NFTs, about 9,300 did not hold any cryptocurrency in their wallet for gas fees – the fee all users pay for a transaction on the blockchain. If a holder has no balance of either MATIC or wETH, he is "No Gas" holder. That means he can't list his NFT for sale until he get some balance into his wallet, the Dune dashboard shows.

This means that 72% of buyers were likely purchasing NFTs for the first time.

The total number of tokens held by holders with no gas is 21,420, according to Dune Analytics, which one Twitter user pointed out may be stuck due to the more advanced nature of trading on Polygon.

“It's more like a 20,000 set than 45,000,” said Tyler Warner, staff writer at Lucky Trader on Twitter, citing the data as one of the reasons why the tokens skyrocketed in trading volume.

Warner did not respond to CoinDesk by press time.

In a harsh crypto winter where NFTs are already subject to market vulnerabilities, celebrities releasing successful NFT projects or funding Web3 ventures seems like a promising sign.

However, when the project is executed before fully working its kinks out, it does not serve as a vehicle for mass adoption. Instead, it can onboard a new user base that is not familiar with cryptocurrency or the steps needed to make a sound purchase, analyze blockchain data for irregularities and fund wallet transactions.

As projects like these continue to rise in popularity, it’s important to educate holders, dig into the details and look beyond the hype.

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twh-news · 2 years

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Pioneering Audio Art NFT Project Featuring Tom Hiddleston To Be Released | Forbes

by Josh Wilson

Popularly celebrated for his performance as the Norse God of mischief - Loki - in the Marvel Cinematic Universe, Tom Hiddleston has always been labelled as a lovable actor on and off-screen. Soon, a set of NFTs will be released that will be illustrated through pop art, coupled with his well-known voice.

Residing in the blockchain, this triple featured multi-media NFT project is called The Masters Audio Art Collection. Created from exclusive audio recordings of celebrities reciting their favourite poems converged with the progressive digital artists from the OWNFT Studio, the creative arm of OWNFT World - a Singapore end-to-end Web3 and blockchain solutions developer.

The Masters Audio Art Collection NFTs are a collection of artistic creativity from three individuals. The poet who wrote the poem, the celebrity who recites it, and the artist who illustrates the pop art that will tie everything together into a one-of-a-kind pop art NFT.

The Tom Hiddleston collection features the actor reciting excerpts from 12 of his favourite classic poems including “The Mower” by Philip Larkin, “The Road Not Taken” by Robert Frost and “I am” by John Clare. The full poem recordings have been streamed more than 700 million times on Ximalaya FM, SoundCloud and Youtube. However, these exclusive NFT arts on offer were created from a collection of never-before-seen photos of Tom in the recording studio, and are aimed to immerse buyers into a journey of emotions expressed in the poems visually and auditorily.

Pop art is an art movement that emerged during the 1950s and was made prominently relevant by the talented Andy Warhol, the art movement is famously known to consist of colourful and vibrant elements that displayed imagery inspired by popular or mass culture, including iconic celebrities, comic book characters or elements, and other popularly known objects.

Drawing inspiration from the pop art movement, The Masters Audio Art Collection aims to celebrate cultural icons as the masters of their field. Through the art of rendering techniques, each piece of art is prepared to blend into the audio, so buyers can somewhat feel each word being spoken. This meticulously curated 360 NFT is a collectible that is planned to celebrate the mastery of performing art skills surpassing time and cultural progress, a collection aimed at both digital art lovers and fans alike.

According to Fiorenzo Manganiello, the President of the Lian Group’s Lian Foundation, which was set up to collect NFT art and to support millennial arts digital education, “Masters Audio Art is leading a new trend appearing in the space of iconic pop art NFTs,” He specified after being invited for a private viewing of the Collection. “They are moving towards merging conventional arts through time and medium on blockchain to ensure the authenticity and conservation of celebrity pop art.”

Series two of the collection is set to feature Dame Helen Mirren, best known for her portrayal of Queen Elizabeth II in the movie The Queen, and as Queenie in the recent F9: The Fast Saga.

The Masters Audio Art NFTs are available for sale from the 14th of May on OpenSea. A premium Web3 NFT marketplace.

The owners of Tom Hiddleston’s NFTs can also invite people to attend Tom Hiddleston’s Masters Audio Art Exhibit on the upcoming Ploutus platform from OWNFT. In addition to the site, the Ploutus app will be packed with augmented reality (AR), and virtual environments offering multi-level immersive engagements for NFT owners.

Premiering in the Commonwealth Fashion Council (CFC) 3D interactive museum gallery in conjunction with U.K. royal Queen Elizabeth’s Platinum Jubilee month in June, on the Ploutus app, the interactive art exhibit shall showcase sold NFTs from the series so that owners can display their acquisitions to the world.

“Ploutus is where NFT owners can list, engage, and have fun with their digital assets.” OWNFT World’s founder and director, Patricia Pee stated. She further added that it is more important than ever to create NFT projects that are of value creation, meaningful and can remain relevant for a long time because this is the aim of blockchain in the first place.

‘‘Web3 NFT projects have got a lot more to offer because the market is increasingly sophisticated now than before and that is why, with an art project like the Masters Audio Art Collection Series, we have to create not just the art but also think about how buyers can enjoy and share their art collection in different ways that will hold or increase their value over time.’’ She concluded.

Around the viability of the collection, I also spoke to Manav Golecha, an expert in the NFT space, on the viability to scale and sell NFT collections around celebrities in a brief period. Golecha famously started the Women of Crypto collection, which sold 8888 NFTs in 5 months. Women of Crypto however had a particular mission to empower and educate women in this financial and technological revolution.

“Any time you're utilizing a strong brand name - celebrity in this instance - it’s positive when it comes to NFT projects as a whole. Most NFT drops fail because of a lack of marketing and effort. With something like this, it’s important that the advertising of it is spot on, so people know it’s there, and also from a security standpoint it is protected and is on a secure platform. Which it looks like this is.”

From art to enhancing security and helping develop thriving communities - Golecha expands his abilities to make sure a project’s processes are secure end-to-end to benefit its community and to also strengthen the project’s marketing. He further helps NFT projects with auditing smart contracts to identify bugs. This helps NFT collections in optimising gas for their contract to reduce the overall gas fee.

Hundreds of thousands of dollars are stolen from people because of hackers in NFT Discord groups. Manav uses his skills in Discord cybersecurity to help NFT projects fight against hackers and remove webhooks from the Discord server. This helps bring down the probability of hacks and keeps the community secure.

Golecha also mentioned the need to give back through collections. He assists NFT collections in partnering with nonprofits to increase their impact. He’s also personally donated $100,000 to two entities, namely Women Who Code and Crypto Chicks.

“Philanthropic endeavors should be a key part of this industry. It’s certainly key for me and I stress to all my clients to make sure that they heavily contemplate how they will give back to a specific community or an area that they are passionate about.”

OWNFT’s Tom Hiddleston project shall be making a contribution to Tom’s favourite social organisations including UNICEF.

Currently, only 1.4 million individuals have activity on OpenSea, an NFT trading platform. Meaning that 99.9% of the internet has not bought an NFT, yet.

Golecha predicts that this will change in 15 years and NFTs will have a significant market.

Two big drivers for this growth according to him will be the upcoming Coinbase marketplace which already has roughly 3.7 million users on the waiting list and Eth 2.0 which will drastically reduce gas fees once the network moves from proof-of-work to a proof-of-stake mechanism.

#tom hiddleston #The Masters Audio Art Collection #NFT #non fungible tokens #OWNFT #article

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brooklynmuseum · 1 year

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Non-fungible tokens, or NFTs, will be the topic of conversation at our next Art History Happy Hour on January 26 at 7 pm. ⁠

During the program, author Nate Thompson offers an overview of the blockchain landscape and its intersections with contemporary art. Artists Delphine Diallo and Sasha Stiles then join in to discuss the field’s opportunities and challenges. Plus, take one last look at Virgil Abloh: “Figures of Speech” before it closes. ⁠

Get your ticket, which includes a specialty cocktail, small bites and after-hours admission to #VirgilAblohBkM for $45 ($40 for Members). Additional beverages are available for purchase.

🎟 http://bit.ly/3GBmWzN

📷 Kolin Mendez

#Brooklyn Museum #brooklyn #museum #art #nft #non fungible tokens #AHHH #ArtHistoryHappyHour #event #nyc #nyc events #New York City

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jawarakoin · 9 months

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#digital art #bitcoin #blockchain #metaverse #nft #nftcommunity #digitalcurrency #crypto #cryptocurrency #kripto #Jawara Koin #non fungible tokens

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hkcomplex · 2 years

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Much of the criticism of cryptocurrency found in online progressive spaces focuses on environmental impact, which is correct and worth criticism, but fails to address the real reason for cryptocurrency’s popularity: it is exhaustively promoted by the major financial firms using it to launder huge amounts of money.

I promise you that’s the only reason you hear about it, the only reason all the transaction apps let you “pay in BitCoin” (meaningless), the only reason NFTs were a “hot topic” despite literally zero interest from any normal person. It’s because they need a large volume of transactions to keep the exchange rate volatile and make it harder to audit.

Please remember this every time you hear about cryptocurrencies and NFTs in the news.

#crypto #bitcoin #nfts #non fungible tokens #death to capitalism

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dailytorso · 1 year

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Day 209

#dailytorso #obese #daily torso #nft #fat #opensea #daily photo #hairychest #dailyphoto #torso #nonfungible #non fungible tokens

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christophercryptoland · 2 years

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Remeber to buy the shit fart smella poop shart stinky nft with 75 Ethereum this upcoming week upon mint

#nft #bitcoin #crypto #cryptocurrency #nfts #dogecoin #dogecryptocurrency #etheruem #etherum #non fungible tokens #investment #investor #incel #incelcore

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rightclicking · 2 years

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Just found the funniest way someone advertised their NFTs

Yes, people will buy the two dragons kissing gif. Yes, I will buy this woman so I know what girls smell like again. Brilliant

#The scent of a woman?#they just exposing themselves now💀#also thanks to that one blog #for the @#these are gold #anti nft #anti nfts #nft #non fuckable tokens #non fungible shits #non fungible tokens #nfts #fuck nfts #crypto #fuck nft

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mentalbarf · 2 years

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STAY PLUGGED

because nothing else matters

Twitter: @mentalbarfwtf

Mental Barf 2022

mentalbarf.wtf

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tsh9 · 2 years

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#non fungible tokens #finance #banking #investors #income #companies #consumer #Blockchain Technology #cryptocurrencies #cryptocurrency #blockchain #crypto

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probablyasocialecologist · 2 years

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#nfts #non fungible tokens #cryptoart #things can only get betterrrrrr

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dontmeantobepoliticalbut · 1 year

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In creating his NFT collection, former President Trump seems to have borrowed images from across the internet, including clothing brands on Amazon and Walmart.

On Thursday, Trump began selling his first-ever collection of NFTs, dubbed the “official Donald Trump Digital Trading Card collection.” The former president released 45,000 of them, each individually priced at $99.

However, journalists noticed that at least some of the images for the NFTs relied on photos of clothing you can buy online. For example, an NFT showing Trump wearing a cowboy outfit seems to be based on a duster jacket from Scully Leather, which is sold on Amazon and Walmart.

Another NFT of Trump wearing a tuxedo borrows imagery of a suit sold on Men’s Warehouse. Meanwhile, a separate NFT incorporated a photo of a $49 Western Sports coat.

Journalist Matthew Sheffield added that other NFTs seem to be based on photos from stock image provider Shutterstock and a news article.

That said, many of the other Trump NFTs are merely the former president standing in the same overall pose, but with slight variations that could include holding up a fist, wearing a hat, or even gripping a basketball.

To produce art for the NFTs, the Trump Organization hired a contract artist named Clark Mitchell, who’s done projects for Star Wars, Disney, Hasbro, along with other NFTs, including for sports athletes. Mitchell didn’t respond to a request for comment, so it’s unclear what process he used to create the Trump NFTs. For now, Mitchell has only tweeted: “This is def a unique day for sure,” after Trump announced the NFTs.

But we wouldn’t be surprised if Mitchell tapped the stock images to help streamline producing hundreds of individual images for the NFT collection. In many cases, the art for the NFTs looks as if Trump’s head has been Photoshopped onto a body.

Critics, including Trump supporters, have already derided the former president for pushing his NFT collection when he's announced plans to run for president again in 2024. But even so, the digital collectibles sold out quickly, according to Trump’s website. About 6% of the NFTs are also being resold on OpenSea, starting at about $180 in Ethereum.

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ureeqa · 2 years

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UREEQA's unique #Technology and validation process verify ownership, authorship & originality of creative works. We are the exclusive worldwide provider of Responsibly Minted™ #NFTs. https://bit.ly/3soOkdq

#ureeqa #artists #cryptocurrency #nftcreators #crypto token #non fungible tokens

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bytebingtech · 6 months

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The final guide to deciding on the proper Cryptocurrency pockets

In the ever-evolving world of cryptocurrencies, one of the most crucial decisions you'll make is selecting the right cryptocurrency wallet. With a plethora of options available, each offering unique features and benefits, it can be perplexing to determine which one best suits your needs. In this comprehensive guide, we will demystify the process of choosing the perfect cryptocurrency wallet. We'll explore various wallet types, security considerations, and user-friendly features to ensure you make an informed choice. Read More

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burnitalldownism · 6 months

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All those ppl who “got rich” off crypto/NFTs?

Tell me…are they rich in Dogecoin, or are they rich in real money?

#crypto #cryptocurrency #nfts #non fungible tokens #scam

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