The Genesis: A Canvas for Innovation

At its inception, Nifty Gateway offered something extraordinarily different— a platform where artists, who were curious about the blockchain, could interact with it effortlessly. The blockchain was still relatively novel and the cryptomarkets hadn’t reached their all-time highs. The freedom to experiment and create was immense. High-quality artists flocked to the platform, contributing stunning yet affordable pieces that collectors could acquire without burning a hole in their pockets.

During this initial phase, Nifty Gateway was an exciting art bazaar that combined the promise of emerging tech with the ingenuity of the creative mind. The platform encouraged groundbreaking work and brought artists and collectors closer than ever before.

The Nifty Summer: The Craze and the Haze

Enter the phase that many in the community now nostalgically refer to as the “Nifty Summer.” Top artists like Beeple, xcopy, Trevor Jones and more saw their work experience parabolic growth, and NFTs like Bored Ape Yacht Club (BAYC) and the ever-iconic Crypto Punks surged in popularity. The market went wild, and tools started emerging that made the creation of NFTs easier than ever.

The Nifty Summer wasn’t just a season; it was a phenomenon. It marked a tipping point where NFTs went from being a niche fascination to a cultural mainstay. However, this explosive growth came with its challenges.

The NFT Winter: The Thawing of the Hype

As quickly as the NFT summer had escalated, the ensuing NFT winter brought a sobering chill. During this period, some celebrities and public figures began to take advantage of the hype, sometimes at the expense of the art and the collectors. Comedian TJ Miller, for instance, came under fire for allegedly capitalizing on the NFT craze. Critics argue that such entries into the NFT space, devoid of any real artistic value, have the potential to dilute the ecosystem and exploit collectors who are here for the love of art and innovation. The platform became flooded with numerous NFT projects that seemed to focus more on extracting Ethereum value rather than contributing to the art world. Trust wavered and provenance—the historical record and ownership details of an art piece—became murky.

Moreover, the lack of curation became evident. Virtually anyone could mint anything, making it difficult to separate the wheat from the chaff. Meanwhile, artists with no provenance history started charging exorbitant fees for their artwork. To make matters worse, the rising gas fees made it almost impossible for new entrants to participate in the NFT world, further cooling off the market.

The Great Reset: Nifty Gateway’s Comeback

Recognizing these challenges, Nifty Gateway went back to the drawing board and emerged with a refined focus on quality. It has become a haven for top-tier art and artists, serving as a benchmark for what an NFT platform should aspire to be.

In parallel, other platforms like Tezos have started to gain prominence for offering a space for exploration and affordable art. Tezos addresses many of the concerns that arose during the NFT winter, particularly those related to high gas fees and accessibility.

TL;DR

Nifty Gateway started as a platform that encouraged artistic innovation in the NFT space. Despite the highs of the Nifty Summer and the lows of the NFT Winter, the platform has realigned its focus towards quality art and artists, setting an example for the industry. As platforms like Tezos rise, offering solutions to past problems, Nifty Gateway remains a leader in curated, top-tier NFT art.

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Wow, this news about hi and Animoca Brands forging a strategic partnership is truly exciting for the NFT and Web3 space! The intersection of art, collectors, technology, and blockchain is taking a massive leap forward with this collaboration.

Animoca Brands’ investment of US$30 million in hi is a clear sign of their confidence in the potential of hi’s Web3 financial super app and ecosystem. The shared vision to amplify the utility of fungible tokens and NFTs within the Web3 space is a game-changer!

The deep integration between Animoca Brands’ ecosystem and hi’s innovative services is promising. With a focus on boosting the hi ecosystem, including the hi App and the hi Protocol, developers will have access to a groundbreaking Proof of Human Identity (PoHI) solution. This unique-human authentication mechanism will certainly add value to the Web3 mass adoption journey.

And let’s not forget that Animoca Brands is a trailblazer in the NFT space, making them the perfect partner to deliver real-world use cases for cryptocurrencies and utility tokens within the hi ecosystem. The possibilities for users to directly spend and be rewarded with tokens like SAND, EDU, APE, REVV, GMEE, and others are fantastic!

Moreover, hi’s achievement with the world’s first debit card featuring NFT avatar customization powered by Mastercard is just remarkable. It’s incredible to see how they’re pushing the boundaries of crypto and fiat integration.

Yat Siu’s excitement about investing in and partnering with hi is evident, and the support from an experienced company like Animoca Brands will undoubtedly drive positive impact for the broader Web3 ecosystem.

With both companies working together, the adoption of hi’s products and services will receive a significant boost, propelling the mass adoption of blockchain technology forward!

TL;DR: hi and Animoca Brands have formed a strategic partnership, with Animoca Brands investing US$30 million in hi. They aim to amplify the utility of fungible tokens and NFTs within the Web3 space. The collaboration will lead to deep integration between their ecosystems, and hi’s groundbreaking Proof of Human Identity (PoHI) solution will offer unique-human authentication. Animoca Brands’ expertise in the NFT space will contribute to real-world use cases for cryptocurrencies and utility tokens in the hi ecosystem. The partnership promises to drive mass adoption for blockchain technology.

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Hold onto your seats, ladies and gentlemen, because history is about to be made at Wimbledon! In a groundbreaking collaboration, the legendary tennis superstar Andy Murray is teaming up with the innovative Refik Anadol Studio to embark on a mind-boggling journey through the realms of sport, fine art, and data science. This sensational project marks a momentous occasion, exactly a decade after Murray ended the nail-biting 77-year wait for a British Gentlemen’s Singles Champion at Wimbledon. The excitement is palpable as the world anticipates the unveiling of a mesmerizing digital artwork that will revolutionize the way we perceive sports and unleash the full potential of high-tech creativity.

See the NFT on manifold

Prepare to be dazzled, folks! The masterpiece, aptly named “The Exposition,” will transport you into the exhilarating world of Andy Murray’s near 20-year Wimbledon career. This awe-inspiring visual interpretation will capture every stroke choice, body movement, and crucial point played by the tennis maestro. Picture the sheer brilliance of millions of inputs, encompassing statistics, motion, audio, and visual data, meticulously woven together by a unique algorithm crafted by the brilliant minds behind Refik Anadol Studio. This visionary creation is set to redefine our understanding of high-performance sports data, tantalizing our senses and leaving us in awe of the boundless possibilities that lie within the intersection of art and technology.

Are you ready to own a piece of history? Brace yourselves, for the chance of a lifetime awaits you! The digital artwork will be available for purchase through an inaugural Open Edition, allowing fans and enthusiasts alike to seize this remarkable opportunity. From the moment the clock strikes 2 pm BST / 9 am EST on Friday 7 July, eager collectors can secure their very own slice of tennis history until the culmination of The Championships 2023. The doors are open, so don’t miss out on the chance to own this extraordinary creation, priced at a modest $145 or 0.077 ETH. !

Excited to be partnering with @Wimbledon and @refikanadol Studio on a data-inspired digital art project involving every match I’ve ever played at Wimbledon.

More details on the drop page: https://t.co/QrbY9AmBBm pic.twitter.com/VFdMzd6HvU

— Andy Murray (@andy_murray) July 7, 2023

But wait, there’s more! As if owning a digital masterpiece weren’t exhilarating enough, the lucky owners of “The Exposition” will be granted exclusive rights to purchase a physical print edition of the artwork. This ingenious blend of the digital and physical worlds pushes the boundaries of creativity, inviting you to fully immerse yourself in the grandeur of this groundbreaking project. The esteemed art marketplace Avant Arte, known for its community-based approach, will spearhead the production of the physical print edition, ensuring that NFT holders will have an opportunity to cherish their prized possession in tangible form later this year.

As if this weren’t thrilling enough, the collaboration between Wimbledon, Andy Murray, and Refik Anadol Studio promises to evolve organically with live data collection during this year’s Championships. Imagine being part of a project that not only captures the magic of the present but also constantly adapts and grows, transcending the confines of tradition and embracing the future of sports, art, and technology.

The possibilities are endless, my friends! The emergence of digital ownership has paved the way for art collectors and tennis fanatics to relish not only the artistic marvels on display but also to claim a stake in history. Through the revolutionary use of the Ethereum blockchain, these animated data paintings will forever be marked as a jubilant celebration of one of the United Kingdom’s most extraordinary athletes.

“Everyone knows how special Wimbledon is to me and the important part it has played in my career so far.  Data also plays a vital role in my match preparation and opponent analysis.  I’ve been collecting art for a number of years now and following the amazing work Refik and his team produces.  A project involving these three areas that push the technological boundaries is something I am keen to be involved with.” – Andy Murray

Chris Clements, the Digital Products Lead at Wimbledon, shares Murray’s sentiment, expressing the tournament’s ongoing commitment to engage with audiences, attract new fans, and embrace innovative ways to honor tradition in an ever-evolving world. This collaboration represents a magnificent leap forward, seamlessly blending the brilliance of Refik Anadol Studio’s digital art with the storied history of Andy Murray’s Wimbledon journey.

Let us not forget the mastermind behind this ambitious endeavor! Curated and produced by the ingenious web3 consultancy FAN3, this extraordinary project will set the stage for an unparalleled experience that will captivate the world.

So mark your calendars, folks, for this Friday, July 7, is a day that will go down in history. Witness the birth of a new era, where sports, art, and data science converge in a mind-blowing symphony of creativity. Get ready to immerse yourself in the magic of Andy Murray’s Wimbledon career as you’ve never seen before. Don’t miss your chance to own a piece of this transcendent experience and secure your spot in the annals of tennis history. Visit the Manifold platform and prepare to be astounded by “The Exposition.” The countdown begins now!

The post FAN3: Wimbledon and Andy Murray Join Forces with Refik Anadol Studio for an Astonishing Fusion of Sport, Fine Art, and Data Science! appeared first on NFT CULTURE.

In the dynamic world of non-fungible tokens (NFTs), recent decisions by prominent platforms Blur and OpenSea to remove royalties have sparked a contentious debate. While these changes have brought cheers from traders, they’ve also raised concerns about the long-term health of the NFT ecosystem. The crux of the argument is this: the removal of royalties, while seemingly an opportunity for traders, has inadvertently set the NFT ecosystem back by removing an essential source of liquidity for projects.

The Trader’s Windfall

From the trader’s perspective, the decision to eliminate royalties was a windfall. The removal of the customary 5% fee, among others, meant that they could flip JPEGs for a profit more easily, thereby increasing the appeal of the NFT market. However, this short-term gain for traders may lead to long-term losses for the NFT market as a whole.

The Royalty Lifeline and Its Impact

Royalties have played a pivotal role in supporting and fostering the development of NFT projects. These fees provided a steady stream of income that helped to fund continued innovation and maintain liquidity within these projects. With their removal, many projects that had their business models built around these royalties now face an uncertain future.

 Case Study: The Elementals Drop

A prime example of these challenges is the recent Elementals drop by Azuki. Many collectors expressed shock at the high mint price of 2 ETH in the dutch auction, a cost that was exacerbated by the absence of royalties. This event underscored the paradoxical behavior of collectors, who had celebrated the removal of fees but were unprepared for the subsequent increase in mint prices.

Azuki may have just fumbled their bag.

My uncensored thoughts on the Elementals mint.

(1/19) pic.twitter.com/IFZcVDdyAf

— Kermit (@crypto__kermit) June 26, 2023

The Ripples in the Artistic Realm

The effects of this change extend beyond project developers and traders, reaching into the realm of the artists themselves. While not as directly affected as project creators, artists still face the repercussions of a culture shift within the NFT community. The removal of royalties challenges the ethos of the NFT world, which has always prided itself on directly supporting creators.

The Road Ahead: Potential Outcomes and Solutions

Looking ahead, we can anticipate several potential outcomes. For one, projects may start to reserve a percentage of NFTs in their treasury. As the price of these tokens increases, the projects can then sell their reserved NFTs for profit, creating a new source of income to replace the lost royalties. However, this strategy is not without its own risks and challenges, and it remains to be seen how it will play out in the long run.

• Development of New Pricing Structures The removal of royalties could lead to the evolution of new pricing structures within the NFT market. For instance, artists and creators could start pricing their work higher to compensate for the lack of a recurring income stream. However, this could also result in a higher barrier to entry for new collectors and possibly reduce the overall trading activity.
• Implementation of Tiered Royalty Structures A possible solution could be the introduction of tiered royalty structures, where the royalty percentage varies based on the selling price of the NFT. This could ensure that creators continue to receive royalties, while not placing an excessive burden on traders dealing with lower value NFTs.
• Emergence of New Revenue Models In the absence of royalties, we might see the development of new revenue models for NFT creators. For instance, creators might start offering additional services or products related to their NFTs, such as physical goods, exclusive access to events or content, or even participation in the creative process itself.
• Platform-Specific Royalties Another solution could be for NFT platforms to introduce their own royalty systems, where a percentage of every sale on the platform is distributed among creators. This would need to be balanced carefully to ensure it doesn’t discourage trading activity, but it could offer a way to sustain creators in the absence of direct royalty payments.
• Increased Importance of Initial Sales Without royalties, the initial sale of an NFT becomes even more critical for creators. This could lead to more emphasis on launch events and marketing to maximize the revenue from the initial sale.
• Voluntary Tipping Mechanisms Platforms could introduce voluntary tipping mechanisms, where buyers have the option to give additional funds to the creator of an NFT. This could help foster a culture of direct support for artists and creators, while allowing traders to keep their margins intact.
• Increased Reliance on Third-Party Patronage Artists and creators might become more reliant on third-party patronage or sponsorships, potentially altering the dynamics of the NFT space and leading to a greater commercialization of the sector.

As we navigate this evolving landscape, it is crucial for the community, platform providers, and regulators to work together to address these issues. The health and vibrancy of the NFT ecosystem depend on finding a balance that caters to the interests of all stakeholders, from traders and collectors to artists and project creators. In conclusion, the decision by Blur and OpenSea to remove royalties, while initially hailed as a boon by traders, has had a more complex and far-reaching impact on the NFT ecosystem. It serves as a stark reminder that in the rapidly evolving world of NFTs, short-term gains can sometimes come with long-term costs. As we move forward, the challenge will be to learn from these experiences and work together to create a more sustainable and equitable NFT market.

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Coinbase, the leading cryptocurrency exchange, has recently launched a new campaign to support sensible crypto policy and raise funds for crypto advocacy organizations. The campaign is centered around the release of a commemorative NFT collection called Stand With Crypto, which features a blue shield symbolizing the collective effort to protect and promote the potential of cryptocurrency. The NFTs can be minted for free via the OurZORA platform and all proceeds from the collection will be donated to vetted organizations through a Crypto Advocacy Round with Gitcoin.

This campaign comes at a crucial time for the cryptocurrency industry in the United States, as companies and participants seek clarity and fair regulation from judicial and legislative bodies. Coinbase, who is leading the charge in advocating for consistent and fair regulation, recently sued the SEC in an effort to force the issue. The growth of crypto and web3 is highly dependent upon regulatory clarity, making the Stand With Crypto campaign and the support of crypto advocacy organizations all the more important.

By participating in the Stand With Crypto campaign, users not only show their support for sensible crypto policy but also become part of a growing community that believes in the future of crypto. Minting the commemorative NFT and adding a shield emoji to your Twitter display name is an easy way to get involved and raise awareness for the cause. With unlimited minting available, users can even raise more funds for crypto advocacy by minting additional NFTs.

Overall, the Stand With Crypto campaign is an exciting initiative that showcases the growing support for cryptocurrency and the importance of advocating for sensible policy. As the industry continues to evolve and grow, campaigns like this will play an increasingly important role in shaping the future of crypto.

1/ The community is clearly fired up about sensible crypto policy. Here’s how to continue the support

1⃣: Mint a Stand With Crypto commemorative NFT
2⃣: Add a shield emoji next to your Twitter display name

https://t.co/yCGNEt8Zcn pic.twitter.com/xd3ZDKrNSB

— Coinbase (@coinbase) April 24, 2023

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Microsoft is exploring the development of a crypto wallet feature for its Edge browser. According to Windows Central, Microsoft is currently testing the non-custodial wallet feature, which will enable Edge users to store, send, and receive cryptocurrency funds, as well as store non-fungible tokens (NFTs). The wallet feature will be password-protected and users will be able to recover access if they forget their password.

The new crypto wallet feature will be integrated directly into Edge’s existing wallet feature for storing payment cards. After signing up, users will have access to all their assets, including crypto funds, price trends, and the ability to send or receive crypto using known addresses and names. This development indicates Microsoft’s interest in exploring the potential of NFTs and cryptocurrencies.

The rise of NFTs and the need for secure and transparent ownership of digital assets has made digital ownership increasingly important. NFTs offer a new paradigm for digital ownership and the transfer of value, providing a way for creators to monetize their digital content and establish verifiable ownership. The gaming industry has already embraced NFTs, and their potential to transform industries across the board is enormous.

In addition to the crypto wallet feature, Microsoft plans to accelerate the adoption of multi-factor authentication (MFA) for its 365 Cloud productivity platform. The company will add MFA capabilities to the Outlook email client through a new feature called Authenticator Lite. This feature will enable users to complete MFA requests for its 365 apps directly in the Outlook app. Users can use Authenticator Lite to add an extra layer of security to their Outlook logins for work or school.

The rise of NFTs and cryptocurrencies has brought about a massive shift in the way we think about digital ownership and value. As more aspects of our lives have moved online, the need for secure and transparent ownership of digital assets has never been more critical. Microsoft’s exploration of the crypto wallet feature for Edge indicates the company’s interest in exploring the potential of NFTs and cryptocurrencies. The rise of NFTs is an exciting development that could transform industries across the board, from art to music to fashion to sports.

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Last Friday was a day of chaos in the crypto world. Rumors of a run on Silicon Valley Bank (SVB) led to a sharp drop in cryptocurrency prices, with Bitcoin falling from $46,000 to $42,000 in a matter of hours. The situation worsened when California regulators announced that they had shut down SVB, causing widespread panic about contagion and a run on the banks.

As fears mounted, stablecoin USDC, which is issued by Circle and had significant funds with SVB, de-pegged and fell to $0.87 before rebounding to ~$0.92 on Saturday. Stablecoins are not supposed to behave this way, and the situation raised questions about the stability of the crypto market.

By Saturday morning, the situation had somewhat stabilized amidst increasing calls for the Federal government to guarantee deposits at SVB. Ethereum rebounded from lows around $1,375 to $1,430 and stabilized around $1,470 on Saturday evening. However, the Fed’s announcement on Sunday that it would cover 100% of SVB deposits and depositors would have access to funds on Monday had broader implications for the crypto industry.

The closure of SVB, which was one of the primary crypto-friendly banks, had significant implications for the industry. However, the closure of Signature Bank, which was the last standing crypto-friendly bank, had even more profound implications. Some observers believe that the Fed’s announcement could be the final straw that rips the bandaid off reliance on banks once and for all, leading to a self-banking movement within the crypto industry.

The closure of SVB and Signature Bank and the Fed’s announcement to guarantee deposits have significant implications for the crypto industry. While some believe that this could be the beginning of a self-banking movement within the industry, others are concerned about the broader implications of relying on traditional finance. The situation has also impacted the NFT market, with mid-tier PFPs taking a hit, but more established projects like CryptoPunks seeing a boost in demand.

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Nansen, a blockchain analytics platform that analyzes 100M+ labeled wallets and their activity on Ethereum, Polygon, Avalanche, and numerous other L1 and L2 blockchains, released its 2021 State of the Crypto Industry Report. The company’s first release of this kind includes the most notable trends and insights across the cryptocurrency, NFT, and DeFi markets over the last year. It highlights statistics and movement within key sectors of the blockchain industry as well as an outlook for 2022 from Nansen Co-Founder and CEO Alex Svanevik. Nansen has plans to continue releasing reports of this nature, annually and periodically with a focus on different sectors.

2021 was a huge year for crypto, both in terms of price action and adoption. There were multiple trending narratives throughout the year. Each sector had their own time to shine, bringing more interest, more capital and more people into the space. Many of us thought that DeFi would be the use case that brings millions of people into crypto, especially after the year DeFi had in 2020. While TVL did hit new highs, JPEGs of cartoon animals stole the show and brought in mainstream attention. Blockchain games like Axie Infinity introduced a new paradigm of gaming and showed strong product market fit with their high number of daily active users.

• Smart money (e.g., crypto funds, institutions) activity and profitability in DeFi and NFTs

• NFT collections and marketplace statistics

• The rise of play-to-earn gaming

• Institutional adoption of DeFi 

• DAOs, today’s landscape, and outlook for 2022

• …and much more!

NFT collections and marketplace statistics

As the NFT market grew, the end of 2021 resulted in a total sales volume that surpassed 4.6M ETH (17B USD).

NFTs gained major traction in 2021, growing from a niche use case to dominating blockchain platforms. They became popular as profile pictures on social media, with celebrities such as Jay-Z, Reese Witherspoon, Snoop Dogg, and Steph Curry using them as their Twitter profile pictures.

As the NFT market grew, so did the pace of investment – a dynamic market emerged. Minting as a form of initial NFT sales became one of the most innovative, fun, and complex parts of this new market. 1.2M wallets participated in directly minting NFT projects in 2021.

Nansen is a blockchain analytics platform that analyzes 100M+ labeled cryptocurrency wallets and their activity to provide trading firms, hedge funds, and VCs with insights into the crypto and NFT markets. Nansen is funded by a16z, Coinbase Ventures, and Accel, among others. Please visit www.nansen.ai to learn more.

Play to Earn: A new paradigm in gaming

Beyond being used for art and JPEGs, gaming offers a compelling use case for NFTs. Gamers are able to own their assets and extract monetary value from the hours they’ve spent in the game. The flow of value is more fluid and potentially more multi-dimensional if the in-game economy is crafted well.

Flow of value in traditional games vs blockchain games

Read the Report Here

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GateHub was hacked in June 2019, resulting in the loss of 23 million XRP (Ripple) worth almost $10m. Later the same year, the crypto wallet service was hit by another attack, which saw the private data of 1.4 million users compromised.

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