Marvel reveals official NFTs will be available on VeVe marketplace by 2022

June 25, 2021 Coin Telegraph

Business

Some of the more well known characters from Marvel include Wolverine, Spiderman, Iron Man, and Captain America.

The VeVe virtual marketplace will soon have official nonfungible tokens and digital comic books from Marvel.

In a Thursday announcement, Marvel Entertainment said it had partnered with Orbis Blockchain Technologies to release nonfungible tokens, or NFTs, and digital collectibles on the VeVe marketplace app starting later this year. According to the entertainment company, the NFTs will include digital collectibles and comic books which Marvel fans can trade as well as display in virtual showrooms.

“We hope to expand the limits of what Marvel fandom can be, starting with personal and interactive digital collectibles that, through NFTs, fans can truly collect, share, and enjoy in a way that they have not been able to do before,” said Marvel’s vice president of business development and strategy Daniel Fink.

All the Marvel digital collectibles will be minted on the blockchain and be available for users to buy and sell to others on VeVe’s secondary marketplace with the in-app token Gems (GEM). The VeVe app accepts credit card payments for the tokens, and already offers digital collectibles with characters from DC Comics, Star Trek, and other franchises. Some of the more well known characters from Marvel include Wolverine, Spiderman, Iron Man, and Captain America.

Though Marvel has largely not been directly involved with the crypto space, individual artists can still offer their work featuring known characters. In February, an NFT featuring a Spiderman drawing by Adam Kubert sold for more than $25,000 on Portion.io, a platform that allows users to create and auction rare art.

In addition, digital assets and aspects of the crypto space have found their way into the Marvel Cinematic Universe. The third episode of The Falcon and the Winter Soldier series available on Disney+ had a reference to a $59 million Bitcoin (BTC) bounty.

The VeVe marketplace has reported it sold more than 580,000 NFTs since December 2020. Cointelegraph reported in May that NFT trading volume across the space could reach $175 million by October, with an industry market capitalization of $470 million.

Binance NFT Marketplace Launches With Artwork From Dali, Warhol and ‘100 Creators’

June 24, 2021 Bitcoin.com

The NFT bubble may have popped, but the sector is still primed for expansion

June 5, 2021 Coin Telegraph

Coin Telegraph

NFT sales and active wallets fell by more than 40% in the past month but new layer-2 infrastructure is preparing the sector for the next surge.

Nonfungible tokens (NFTs) took the world by storm in March and April of this year with an onslaught of daily headlines about record-breaking sales and big-name companies dropping their own one-of-a-kind digital art pieces dominating the mainstream media.

Fast forward a few months and the narrative has shifted to the 'NFT bubble' popping and doom and gloomers warning that NFT investors are on the verge of losing all of their money.

*NFT market 1-year history. Source:* *NonFungible*

The rapidly declining prices and activity on the top NFT marketplaces have prompted many to speculate on the death of the nonfungible token space despite the well-known cyclical nature of the crypto market that can spring back to life at the drop of a hat.

You knew this was coming, right?

NFTs Are Dead

(of course you can buy this song as an NFT)https://t.co/gj6JFpFKZX pic.twitter.com/NFveBKgdRn
— Jonathan Mann (@songadaymann) June 4, 2021

Active users jump ship

Active users are the lifeblood of NFT marketplaces, but the choppy nature of the cryptocurrency markets over the past two months, including the May 19 sell-off which saw $1.2 trillion in value wiped from the crypto market cap has led to a precipitous decline in user activity.

*Number of active wallets on NFT marketplaces. Source:* *NonFungible*

As seen in the chart above, the active wallets on NFT marketplaces peaked near the end of March and has since fallen by more than 40% as declining values combined with high transaction fees on the Ethereum (ETH) network kept traders out of the market.

The decline in active wallets coincided with a decline in sales across the space as rapidly falling token prices exacerbated the losses of holders and collectors who saw their valuable art pieces lose up to 90% of their value overnight.

*Total number of sales on NFT marketplaces. Source:* *NonFungible*

The decline in active users has resulted in a 60% decrease in total daily sales which fell from a high of $325 million on May 7 to its current figure at $110 million.

NFTs are down but not out

All is not lost, however, as there are many solid value propositions and use cases for NFTs that entrepreneurs and traditional businesses have noticed and embraced the sector.

The blockchain ecosystem has already put forth multiple viable options to deal with problems facing the NFT sector, such as the launch of Enjin’s Efinity and JumpNet protocols which help to lower fees and allow for interoperability across different networks.

Another popular solution Polygon, an Etheruem sidechain that allows projects to stay on Ethereum while also having access to a fast, low fee environment. In the past three months a large number of NFT-oriented and gaming projects have migrated to Polygon and as the crypto and NFT market improve, these low fee environments should help to boost activity on the network.

*Top 5 NFT marketplaces. Source:* *DappRadar*

While the current statistics may look bad when compared to the recent all-time highs when viewed from a longer time frame one can see that the average number of NFT sales rose nearly 300% between January and the end of May. This shows that there is strength in the sector despite the market plunge that began on May 12.

The NFT ecosystem may have seen a significant drop in activity and token values over the past month but it's far too early to proclaim the death of NFTs as the world has only scratched the surface of what is possible with this nascent smart contract technology.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Ukraine’s Leading Soccer Team Dynamo Kyiv to Sell NFT Tickets

May 23, 2021 Bitcoin.com

Online marketplace eBay now allows NFT sales

May 11, 2021 Coin Telegraph

auctions

A representative said that eBay "will add new capabilities that bring blockchain-driven collectibles" to the platform.

Online marketplace eBay has introduced auctions for nonfungible tokens to its platform.

According to a Reuters report, eBay users who meet certain criteria on the platform will be permitted to list nonfungible tokens, or NFTs. The company added that it would expand its policies and tools surrounding digital collectibles in the future.

"In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform," said eBay's North America senior vice president Jordan Sweetnam.

The report comes almost exactly one week after CEO Jamie Iannone said the platform would be "exploring opportunities" to enable NFTs on the platform "in an easy way." The CEO said buyers and sellers were already able to deal in NFTs on eBay but the platform had not yet simplified the process. Iannone said at the time that the company was also considering introducing crypto payment options.

Executives at the online marketplace have previously hinted that eBay could be open to accepting crypto payments. Three years ago, a senior vice president at the firm said eBay was "seriously considering" integrating Bitcoin (BTC) into its platform as a payment method.

Thousands of projects featuring NFTs have exploded in the crypto space over the last few months, seemingly following the example of multimillion sales of digital artwork on online marketplaces. The introduction of the tokens into a marketplace like eBay with roughly 187 million active buyers has the potential to keep the craze going for even longer.

E-Commerce Giant Mercadolibre Buys Bitcoins Worth $7.8 Million for Treasury

May 6, 2021 Bitcoin.com

Mass adoption looms as South America’s second-largest company accepts crypto payments

April 29, 2021 Coin Telegraph

Adoption

Mercado Libre’s move to accept cryptocurrency payments for real estate could usher in a new way of crypto mass adoption in South America.

On April 28, MercadoLibre (MELI), the largest Latin American online marketplace, launched a real estate section dedicated to cryptocurrencies. Although the company does not settle property transactions directly, it legitimizes the category as a payment system.

The $81 billion retailer is the second largest company in South America and is present in 18 countries, including its three largest markets, Brazil, Argentina, and Mexico.

The group also owns Mercado Pago, a digital payments system for online and offline transactions, along with Mercado Envios, a logistics platform that provides fulfillment, warehousing, and shipping services.

The current offers include houses, condos, vacant lots, land and commercial real estate located in Buenos Aires, Santa Fe, and Cordoba.

A new use-case for cryptocurrency in South America

Although this might seem like a niche market, over 300 real estate agents took part in Mercado Libre's webinar explaining the basic mechanics of cryptocurrencies and their potential impact on the sector. The news might have had a reduced impact as less than 90 offers have been placed in the section, and the prices continue to be displayed in U.S. dollars.

As is already the case with properties paid in U.S. dollars, Argentine pesos, or Brazilian reais, the transaction is handled outside the Mercado Libre platform and combined between the parties. Thus, after choosing the property of preference, the buyer contacts the real estate agent and requests to carry out the transaction in cryptocurrency at the deal closing exchange rate.

However, what analysts might have failed to foresee is the potential of Bitcoin (BTC), Ether (ETH), and Tether (USDT) to effectively serve as a means of exchange in Argentina.

As stated by Juan Manuel Carretero, the commercial manager for vehicles and real estate at Mercado Libre:

"Probably, as cryptocurrencies become widespread, it will no longer be a separate section, but a payment option filter like any other."

According to Statista, Mercado Libre's gross merchandise volume accounts for 25.4% of all e-commerce sales in Latin America. Its sales are expected to reach $25 billion in 2021. Therefore, capturing 5% of the $1.25 billion in volume generated each year.

Countries with inflation issues could lead cryptocurrency adoption

Argentina might end up being the poster-child for cryptocurrency adoption as the country's gross domestic product declined by 10% in 2020, and its cumulative inflation hit 42.6% over the last 12 months.

Considering that people have been limited to purchasing $200 of foreign banknotes per month by the central bank, cryptocurrencies have been effectively functioning as a store of wealth for its citizens.

It may be just a question of time regarding how long it will be before cryptocurrencies gain center-stage as one of the leading digital payment options and marketplaces in Latin America. Meanwhile, the real estate dedicated section should be interpreted as a test drive for consumer demand.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

It was only a matter of time — Some NFTs now have human DNA sequences

April 15, 2021 Coin Telegraph

Business

The future is starting to look "Gattaca"-esque as bidding for a crypto user's DNA sequence begins.

Nonfungible tokens, or NFTs, haven’t quite reached the level of awareness to take over the human race — yet — but at least one of them contains the chemical building blocks of life.

A crypto user known as "Cybex_Dreamer" recently listed their personal genome as an NFT for sale on OpenSea's digital marketplace. The anonymous seller is auctioning off three NFTs, each containing one-third of their complete DNA sequence, based on identifier, chromosome number, base pair position and genotype.

A small sample of the user’s genetic code shows the data is “intended for genealogical research only,” with the bidding for the first NFT starting at 1 Ether (ETH), roughly $2,463. At the time of publication, no one has made an offer for the user’s DNA. Less than a day remains unti the first auction is completed.

Though this is seemingly one of the few times an individual has had their DNA sequenced and minted on the blockchain, another company has said it is doing the same for crypto users. GenoBank.io plans to allow its customers to create a biological NFT, aiming for people to maintain some ownership of their DNA.

In the United States, the issues over privacy when it comes to one’s DNA can be controversial and are not completely defined in a court of law. The Federal Bureau of Investigation maintains a fairly comprehensive database of genetic samples in its Combined DNA Index System, or CODIS, related to cases including sexual assault and missing persons. A court order filed on behalf of the holder is generally required to expunge a DNA sample from the system.

The OpenSea user didn’t say that they are trying to push any legal or ethical boundaries by having a random person own a copy of their DNA sequence. However, someone could potentially get information on their ancestry, predispositions to genetic disorders, and how to commit identity theft at some point should DNA become used as it is in dystopian sci-fi movies like Gattaca.

Blockchain-based renewable energy marketplaces gain traction in 2021

April 3, 2021 Coin Telegraph

Coin Telegraph

Blockchain projects focused on optimizing the energy sector are gaining traction as greater emphasis is placed on conservation and efficiency.

Concerns about energy production, resource consumption and its impact on the environment are one of the dominant topics of debate on the global stage. The intensive energy costs of mining Bitcoin and other proof-of-work cryptocurrencies are also frequently pointed to as a serious downside to the emerging asset class.

While environmental concerns and the cost to reward debate rages on, there is one group of cryptocurrency projects that has the goal of bringing blockchain technology to the global energy grids as a way to encourage renewable energy generation through a flexible marketplace that connects energy buyers and sellers.

Three energy-focused projects that have seen triple-digit gains since the beginning of 2021 are Energy Web Token (EWT), Power Ledger (POWR) and WePower (WPR).

EWT/USDT

Energy Web Token (EWT) is the operational token for the Energy Web Chain, an open-source enterprise blockchain designed to support and further application development for the energy sector.

According to the project’s website, the “Energy Web is accelerating a low-carbon, customer-centric electricity system by unleashing the potential of open-source, decentralized, digital technologies.”

The project launched in June of 2019 and has since grown to an extensive network of partners with some globally recognized companies including Volkswagen, Siemens and Hitachi.

Once fully developed and integrated, its virtual machine could help connect the different areas of the energy sector including grid operators, software developers and vendors.

One of the biggest price movers for EWT in 2021 came at the beginning of March when the token was listed on the U.S.-based Kraken cryptocurrency exchange.

*EWT/USDT 4-hour chart. Source:* *TradingView*

The subsequent announcement of a partnership with Volkswagon on March 4 and the release of the EasyBat battery compliance app on March 16 further helped provide a boost to the token which went on to establish a new all-time high of $19.85 on March 18.

POWR/USD

The Power Ledger platform was established in May 2016 with the goal of creating an operating system for new energy markets that is capable of trading renewable energy and environmental commodities on a local and global scale.

Based out of Australia, the project aims to utilize blockchain technology to create a system where every electrical resource or power device has a digital identity that is connected to a real-time market that facilitates the transactions between them.

POWR operates on the Ethereum (ETH) network as a peer-to-peer energy exchange platform and it utilizes a two-token system comprised of POWR and Sparkz to “ensure consistency across Power Ledger’s platform,” according to the project’s website.

Sparkz are stable tokens that are used when units of electricity (kWh) are bought and sold on Power Ledger’s platform.

Trading activity for POWR began to pick up at the end of January as discussions about renewable energy began to gain traction in the media.

*POWR/USD 4-hour chart. Source:* *TradingView*

The March 3 announcement of Power Ledger’s partnership with India's largest integrated power company Tata Power-DDL kicked off a price rally which resulted in POWR rallying to $0.504, its highest level since 2018.

WPR/USD

WePower is a blockchain-based green energy trading platform that connects “energy suppliers, corporate buyers and energy producers for easy, direct green energy transactions.”

According to the project’s website, the WePower platform is “the easiest way for companies of any size to buy green energy directly from local producers,” and the platform aims to make “corporate green energy procurement as easy as online shopping.”

WPR is an ERC-20 token that functions as a payment method on the WePower Network. It's used to standardize and increase the available liquidity in the existing energy investment system and should also help to reduce prices for network participants.

Trading activity and token began to pick up at the beginning of February when the project handed over its “first fully-featured Elemental platform to Mojo Power.

*WPR/USD 4-hour chart. Source:* *TradingView*

Following the launch of the Elemental retail marketplace on Feb. 1, the price of WPR surged from a low of $0.011 to a high of $0.05 on March 24 as conversations concerning renewable energy and sustainability in Europe and Australia took place.

Increased global attention on climate and energy production-related issues suggests that this niche slice of the crypto sector is ripe for further gains.

Projects utilizing blockchain technology to optimize global energy marketplaces are well-positioned to increase their market share as distributed ledger technology goes mainstream.

Indian crypto users suspect Flipkart’s Bitcoin announcement is an April Fools joke

March 31, 2021 Coin Telegraph

april fools

True or not, the timing of the announcement is suspect given many companies' apparent fondness for pranking customers on April 1.

Flipkart, India's largest e-commerce company by sales, has said it will be accepting Bitcoin payments in what many suspect is an April Fools’ Day prank.

In an announcement on Twitter today at 11:30 pm India Standard Time, Flipkart said it would be accepting Bitcoin (BTC) “as a convenient mode of payment” for its online marketplace. However, many users have refused to accept the e-commerce company’s seemingly pro-crypto stance given the timing — at the time of publication, it is already April Fools’ Day in India.

The future is here. We now accept Bitcoin as a convenient mode of payment. Update your app now. pic.twitter.com/l3MlY2qwRd
— Flipkart (@Flipkart) March 31, 2021

Headquartered in Bangalore, Flipkart has claimed to have more than 200 million users as of July 2020, meaning crypto payments on the platform could look bullish for the Indian market. However, reports have been circulating of the Indian government introducing a possible ban on private cryptocurrencies in the country. Many Flipkart users seemingly doubted the veracity of the company’s claims.

“A massive company like Flipkart would not take such a risk given the uncertainties in the regulations here,” said Twitter user Shrikar Parashar.

Many Crypto Twitter users said that even though they believed the announcement was an April Fools’ Day joke, the message was still a bullish indicator for the space and “good for Bitcoin awareness.” Others speculated that if Flipkart didn’t hold up its end on Bitcoin payments, the alleged joke might drive users away:

The crypto space is annually beset with fake news reports around April 1 that sometimes go viral before the majority of readers find the fine print revealing they were jokes. For a few years, CoinMarketCap has listed Toilet Paper Token (TPT) as the number “0” digital asset in its list of cryptocurrencies by market capitalization. Last year, crypto exchange Bitfinex pranked its more than 600,000 Twitter followers by claiming it would release an energy drink similar to Monster.

Cointelegraph reached out to Flipkart for comment but did not receive a response at the time of publication.

marketplace