Scanning your dog and going for a walk in the metaverse: Virtual NFT pets are becoming increasingly popular

If you’ve ever had a Tamagotchi or enjoyed playing Nintendogs, you’ll probably enjoy this story. According to new research, during the peak of COVID-19, the number of people looking for a furry friend to keep them company reached new highs – not only physically, but also in the metaverse. The question is whether tokenized pets are here to stay or if they are a passing fad. The metaverse is widely viewed as the internet’s next incarnation as a virtual environment, or Web3, made possible via virtual and augmented reality. In the metaverse, there are several ways to buy or adopt a pet, each with its own set of benefits. You can buy a puppy and take it for a walk in the virtual open-world platform Decentraland, or you can buy a fish and keep it in a bowl on your dresser. Another approach to obtain a pet in the metaverse is to purchase an image of a nonfungible token (NFT) on a marketplace such as OpenSea. These instances have one thing in common: they both live only in the digital realm. If you buy an Axie on Axie Infinity, it does not exist in the real world. However, there are projects gaining traction that try to combine the digital and physical worlds. ClassicDoge, for example, launched in November 2021 and allows you to scan and tokenize a 3D model of your pet in the physical world before bringing them into the metaverse with you. Your real pet made into a 3D NFT Avatar. Bridging the real world with the virtual.#classicdoge #furever #xdoge #petaverse #VirtualReality #metaverse pic.twitter.com/oq86cRG9uB — ClassicDoge (XDOGE) Official (@TheClassicDoge) January 1, 2022 Saylor Howell, ClassicDoge’s head of growth and partnerships, said that while the pandemic may have sparked interest in pet NFTs, they were an unavoidable development of…

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SolChicks, a Solana NFT platform, is backed by… 113 venture capital funds

SolChicks, a Solana-based play-to-earn fantasy game, has made headlines after it was revealed that 113 different venture capital funds have invested in the project. Is the new Solana game doomed by VC? On Wednesday, a new play-to-earn fantasy game launched on Solana caused a stir in the crypto community, raising concerns about the sustainability of DeFi’s current fundraising model. SolChicks has received a lot of attention due to the fact that it is backed by over 100 different venture capital funds—113 to be exact. The project’s official website lists some well-known names as partners, including Gate.io, but the vast majority are obscure funds focused on small-cap DeFi projects. SolChicks stated in a press release issued following its successful IDO that it had raised more than $20 million from more than 300 private investors. The IDO for the game will take place on 38 launchpads at a public price of $0.05 per token, implying a fully diluted market capitalization of $500 million. The success of SolChicks’ IDO prompted some members of the crypto community to become more involved in the game’s development. Many questioned the project’s legitimacy because over 100 VC funds invested in it, with many claiming that it was only a matter of time before they all dumped $CHICKS on the market. So who’s gonna provide liquidity for all the good people behind those shiny logos ? Any volunteer ? 🤔 https://t.co/xjXyeVtD8O— Cherry 🌸 (@cherry_cbl) December 1, 2021 According to one trader, this isn’t just a wild guess—one of SolChicks’ founders was reportedly involved in a number of other similarly ambitious projects that failed spectacularly just months after launch. The $CHICKS token will have its IDO on December 2nd across 38 launchpads, followed by a token generation event (TGE) and public exchange listing on December 6th. We’ll have to…

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Social Trading Is a Popular Emerging Trend in the Crypto Market

What online multiplayer is for gaming is the social component to trading. It provides a next-generation layer for cryptocurrency traders to have dynamic and natural market adventures. Many crypto trends, such as non-fungible tokens, are rooted in socialization (NFTs). It has now made its way into cryptocurrency trading. It provides crypto traders with interconnectivity while trading, breaking down the barriers that prevent them from having fun and less fearful experiences. Cryptocurrency platforms have a reputation for lacking social features that meet user demands and expectations. Because of the overabundance of technical crypto trading features, exchanges have failed to notice how it negatively affects the end-user. Social trading places users in a friendlier environment and allows them to lend a helping hand in the market. Due to the lack of a systemized method of introducing them to the markets, most people have approached crypto as a one-man army. These platforms disrupt this phenomenon by allowing traders to enter with ease and a variety of options. Explanation of social trading Social trading is a type of investing that allows traders to learn about other people’s market decisions. They essentially allow traders to mimic or copy the trading strategies of others. As a result, they are not solely reliant on their actions to generate revenue. eToro was the first to provide bitcoin traders with a socialized trading experience. Meanwhile, KuCoin has set a precedent by becoming the first major cryptocurrency exchange to launch a social trading platform for the cryptocurrency markets. They accomplished this by incorporating KuCoin S into their platform. It is a section of their app that reintroduces trading to the crypto world by incorporating social features like copy trading, sharing your trades, access to real-time crypto news, and interacting with like-minded communities. So, how does this “socialization” benefit traders? What…

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The popularity of Baby NFT copycat collections is growing

We’ve seen a flurry of copycat baby NFT collections of some of our favorite blue-chip projects, from Lil Baby Ape Club to Lil Baby Cool Cats. These clones have gained popularity in the last week, with Lil Baby Ape Club reaching a current floor price of 0.23 ETH. Concerning the CopyCat Baby NFT Collections These collections have no ties to the original collections. To their credit, they do state this in their Twitter bio. However, for outsiders looking in, these projects may be detrimental to the original projects. Consider the possibility that one of these baby NFT collections is involved in a scam, a rug pull, or some other form of discrimination (which has been discovered). This could be detrimental to the blue-chip project whose name appears in the titles of these collections. Because the artwork is identical. From the outside, it appears to be something done by one of the blue-chip projects, such as Bored Apes or Cool Cats, despite no involvement at all. To clear up any confusion, the official link to Bored Ape Yacht Club’s Twitter is here. And the Cool Cats are here. Are There Any Advantages? The hype right now is enormous; it’s never been higher, but why? Is it just that people don’t care about copying? The price for what you’re getting is probably the only argument that can be made. ‘Why spend 30-40 ETH on a BAYC that is out of reach when I can get a baby version for 0.2?’ is probably what many people are thinking when ‘aping’ into these projects. The rising value of blue-chip NFTs could contribute to this. With prices that are way out of most people’s budgets. Users are looking for ways to get in on the ground floor of a fantastic community. They may believe that…

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NFT Virtual Land Platform Prices Increase 42,000% in One Month

Plots of virtual land are being sold at exorbitant prices; some Next Earth NFTs in Vatican City have increased by up to 42,000 percent in a single month. These are not works of art, rare wines, or antiques; they are digital real estate on a blockchain. A tile (or a hundred square meter plot) in Vatican City sells for more than 42 BUSD in Next Earth, while Monaco sells for more than 14 BUSD per tile and Macao sells for around 4 BUSD per tile. Surprisingly, the famous Arc de Triomphe was purchased for around 100 BUSD and re-sold for 3,400 BUSD on the first day of the Next Earth NFT marketplace’s launch. But what does this massive increase in value mean for users looking to invest in virtual real estate? What role does scarcity play in driving up prices, and how can buyers tell if an investment opportunity is sustainable? The answer can be traced back to a fundamental concept in economics 101: supply and demand. People are willing to pay high prices for virtual real estate, creating what appears to be an opportunity for early adopters who understand where the demand is. The Metaverse’s Supply and Demand Virtual land is currently in short supply, while demand is skyrocketing. Neal Stephenson coined the term “metaverse” in his 1992 sci-fi novel Snow Crash. It refers to a virtual existence that exists apart from the physical world. Other examples include Second Life and Minecraft, both of which are owned by video game companies. There are numerous other metaverses in the works. When NFTs become mainstream, users will be able to truly own pieces of metaverses, increasing demand for virtual land even further. Because these metaverses have yet to gain popularity outside of tech circles, there haven’t been many options for ordinary…

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The Million Dollar Token Page Allows You to Display Your NFTs

Do you need a place to show off your new NFTs? Don’t say anything else. Million Dollar Token Page is the first Web3 platform that allows brands and artists to showcase their digital assets – and it has the potential to change the game. What is the Million Dollar Token Page all about? It is, in essence, exactly what it sounds like: a platform where people can buy their own virtual block to share digital assets. The website contains 10,000 Blocks, each of which will be filled with an NFT on the Ethereum network. The most exciting aspect is that anyone can purchase a block and brag about their latest NFTs. What kind of person would want that? As a result, everyone who visits the Million Dollar Token Page (MDTP) will see your NFT. As a result, you will have more opportunities to trade non-fungible tokens for a higher price. Furthermore, the value of your block will rise in proportion to the number of people who view it. Plans, rules, and prices for the future According to reports, the MDTP team has big plans for the future. They want to build a dedicated community that will also contribute to the platform’s growth. Surprisingly, members will have the ability to change the platform’s rules, future release dates, and even set new prices for future releases. However, for the time being, MDTP will only launch 1,000 NFTs (representing blocks) at a time. The current price is set at 0.01 ETH per NFT by the team. However, the platform has a few ground rules. To ensure that every collector gets their own block, a buyer can only purchase up to 35 NFT blocks.

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Pawn Your CryptoPunk: An Emerging NFT DeFi Lending Market

For NFTs, it’s akin to a pawn shop. In a new project that sits at the nexus of decentralized finance (DeFi) and the red-hot NFT market, a startup blockchain project called NFTfi is allowing users to borrow against their non-fungible tokens. Users can use NFTfi to mortgage their NFTs in exchange for other cryptocurrencies, which can then be sold for cash. NFT holders who aren’t ready to part with their CryptoPunks or Bored Apes can use the service to get immediate liquidity. As NFTs become more widely used, the new offering hints at a growing demand for DeFi applications. Lauren Stephanian, a principal at Pantera Capital, said, “NFTs are unquestionably becoming a gateway into the DeFi space for mainstream audiences.” “As more new collectors enter the NFT market, they’ll look for new ways to leverage their assets through DeFi mechanisms such as collateralized lending, fractionalized assets, staking, and more.” Collateralized lending against NFTs is the latest addition to a growing list of services and derivatives products that various startups have launched in response to trader demand. Fractionalization platform Fractional, staking provider NFTx, and cross-chain liquidity protocol Taker are among the other NFT derivatives projects. Unlike fungible tokens, which are more liquid and can easily be staked, lent out, or otherwise put to work to generate yield, NFTs are typically difficult to use in a productive manner once purchased. NFTfi co-founder Stephen Young told ULTCOIN365 that if you have a CryptoPunk and need cash but don’t want to sell it, you can use it as collateral. The loan can then be converted into fiat currency, used in DeFi protocols, or even used to purchase more NFTs. Calculating the value of the collateral The Ethereum-based platform, similar to DeFi protocols Compound and Aave — but with NFTs — allows anyone to make…

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HeroVerse is a game-changer. How People Participate in Blockchain Games

When we hear the word “revolutionization,” we may conjure up images of public policy, trade agreements, immigration, and big business. But, more often than not, global connectivity occurs in virtual environments accessible from anywhere in the world, rather than in boardrooms. In the blockchain universe, the world is now witnessing a gaming model known as Play-to-Earn. For a few years now, blockchain has been used in gaming, with Play-to-Earn embracing an open economy. Despite the popularity of the Play-to-Earn model, Heroverse Development was the first vendor to bring the Play-and-Earn business model to the blockchain space. What exactly is HeroVerse? HeroVerse is the first blockchain pioneer to bring the Top Grossing Mobile Genre Game, which combines Match-3 Puzzle and RPG Strategy, to the blockchain universe. Game in which you can earn money by playing it. Play-and-Earn is a business model that promotes the gaming experience of players as well as an open economy. Playing the Game HeroVerse is a hyper-casual game that focuses on matching similar items to make them disappear. It is inspired by the concept of Match-3 Puzzles games such as Candy Crush Saga and Empires & Puzzles. When the line or matches are removed, heroes will fight their opponents, and if they win, they will be able to advance to the next level. This is the point at which users can be rewarded for their accomplishments, which can then be transferred to the real world as a valuable resource. Furthermore, Heroverse focuses on two key RPG elements: exploration and looting. RPG is a role-playing genre in which the player controls a character on a quest in an imaginary world. It is more about how the characters evolve as they interact with the narrative in HeroVerse. In addition to the casual game mode, HeroVerse has a Daily Raid…

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NFT Films: Is This The Next Big Thing?

After infiltrating the gaming industry, NFTs are now making their way to the film industry. A science-fiction thriller starring award-winning actor Anthony Hopkins will bypass its initial theatrical release in favor of NFT distribution. NFTs With ‘Zero Contact’ Will Include Bonus Content During the Covid-19 pandemic, the film Zero Contact was shot and produced across 17 countries using virtual media. On September 24, the first 11 digital copies of the film will be auctioned off on the world’s largest NFT marketplace, OpenSea, and will be viewable on NFT film platform Vuele. Buyers will have complete ownership of their digital copy of the film due to the unique nature of NFTs. As a result, in addition to being able to watch the film, they will be able to trade it on the platform. In addition, owners will have access to a wealth of extra content that will not be available in the theatrical release or on streaming services. Furthermore, the first person to purchase an NFT of the film will receive the additional benefit of being a part of the film’s theatrical release. Theatrical and streaming releases will be preceded by NFT. Following the initial auction, which will only include 11 copies of the film, another 2500 NFTs will be auctioned off in October. Cameron Chell, co-founder of Vuele, commented on the film’s NFT-based distribution. “We anticipate strong fan engagement from fans of this genre of film or from the cast and crew of the film. We also plan to expand the [scope of] NFT purchasers to include movie collectors. Bringing the entire NFT trading and collecting market into the movie space should help both markets grow.” NFT Films Have the Potential to Change the Entertainment Industry In related news, Canadian filmmaker David Cronenberg and his daughter Caitlin Cronenberg have collaborated…

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