It's Just Technology
Celebrities, sports people, politicians – anyone and everyone seems to be getting into NFTs. These non-fungible tokens (NFTs) have changed the business of buying, selling and owning art and digital property, and ‘collectibles’ like ‘Bored Apes’ have sold for millions online.
Many say they are buying these images to be part of a community and because they love the art. But, in reality, how much of this is a speculative bubble that could soon burst?
A brief introduction of smart contracts and their relationship to NFTs.
We’ve heard a lot lately about the Metaverse; the next evolution of the internet which we will experience in fully immersive 3D virtual worlds as well as mixed and augmented reality on top of our own world. Facebook has zeroed in on this idea so much they changed their name to Meta to reflect it. So let’s look at the potential for this future, the promises that it holds… And the dystopian nightmare it could become if we get it wrong.
Gary Vaynerchuk, founder and creator of VeeFriends, joins CNBC’s ‘Squawk Box’ to break down his outlook for the future of nonfungible tokens, or NFTs.
NFTs have been taking over the art world. And at the center of the $17 billion NFT market is a company called OpenSea.
OpenSea is the Amazon of NFTs, or non-fungible tokens. It’s an online marketplace that allows people to easily create, sell and buy NFTs. It’s one of the largest NFT trading platforms with more than 1.5 million active users, according to Dune Analytics.
This past January was OpenSea’s busiest month yet. It recorded a monthly trading volume of nearly $5 billion, surpassing its previous high in August of 2021.
Alongside that explosive growth, however, the platform also has faced scrutiny for user complaints on the platform related to scams and plagiarism. Crypto-related crime soared nearly 79 percent in 2021 year over year, according to data from Chainalysis.
“We’ve been looking at market manipulation, wash trading and plagiarism and then your run-of-the-mill phishing scam, which is also something that has been coming into the NFT space,” Kim Grauer, director of research at Chainalysis, told CNBC. “So, we do see that kind of connection with scamming in the overall market activity.”
In an email to CNBC, an OpenSea spokesperson said: “We prioritize the trust and safety of all people on OpenSea, and are working hard to make sure that creators, buyers, and sellers alike feel supported by our policies, tools, and service.”
Competition in the NFT space has also been heating up as regulators pay more attention to the crypto industry. So what’s next for the world’s largest NFT marketplace? Watch the video above to learn more about the rise of OpenSea and what it could mean for the growing NFT industry.
From bitcoin to NFTs, it feels like blockchain technology is everywhere. But beyond making the already rich that much richer, can it also make society more fair?
Visa VP Head of Crypto Cuy Sheffield & Micah Johnson join Jill Malandrino on Nasdaq TradeTalks to discuss the Visa Creator Program which is designed to help creators better understand NFT blockchain technology to benefit their digital business.
How anyone can use NFTs to grow their brand and business.
Blockchain Creative Labs CEO Scott Greenberg talks to FOX 7 Austin’s Donny Wong and explains what blockchains, NFTs, and Web3 are and also talks more about BC
How exactly does Cryptocurrency work? How our future lives are going to change when we start using this new currency and how ‘soon’ that future is?
In this TEDx talk Damian Culhane explains in an easy-to-understand language what exactly is blockchain and the significant role it will play in the future of humanity. The uncertainty in the financial markets was one reason why blockchain and cryptocurrency were created, which has led to the dawning and rising of a decentralized revolution.
During the first lockdown in 2020, Damian’s natural curiosity and intuition guided him to invest in the crypto market. Within twelve months the investment grew significantly as he was paying attention to what, how and why the crypto market is changing. Damian looked beyond the face value of cryptocurrency to understand the importance of blockchain technology and the impact it will have on our lives. Watch the talk to hear Damian’s insights and forecast for the future.
Damian specializes in teaching transformational thinking and helping people to pivot their mindset. He is a Certified Mental Fitness coach, a Non-Executive Director, a Master Practitioner of neuro-linguistic programming, a panel speaker, and founder of two companies. He hosts “The Self-Sabotage Show” podcast and is a contributing author in three international best selling books in the “Ignite” series: Ignite Your Life For Men, Ignite Your Life For Conscious Leaders and Ignite Your Life Adventurous Spirit.