NFT stands for Non-Fungible Token. Non-fungible tokens, which are gaining steam not only in India but across the globe, have seen significant growth in terms of sales. It is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore, not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. It uses a digital ledger to provide a public certificate of authenticity or proof of ownership, but does not restrict the sharing or copying of the underlying digital files or the re-creation of identical NFTs. The ownership that NFTs confer is not legally binding. The first known NFT, Quantum, was created by Kevin McCoy and Anil Dash in May 2014, consisting of a video clip made by McCoy's wife Jennifer. NFTs have taken the digital space by storm, especially in the post-pandemic world, and several key personalities across the globe have jumped the bandwagon. In India, Amitabh Bachchan, Rajinikanth, Salman Khan, Malayalam actor Rima Kallingal and Sunny Leone are among celebrities who have launched their NFTs. Recently, a 10 year old, Sahdev Dirdo, who gained internet fame after a clip of him singing “Bachpan ka Pyaar” was viral, has entered the NFT making him the youngest in India to make a foray into the digital asset space. NFT has seen some use as a speculative security and a means of money laundering. It has also drawn criticism with respect to the energy cost and carbon footprint associated with validating blockchain transactions as well as their frequent use in art scams. More
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These pendants can only be bought by owners of CryptoPunk, one of the earliest examples of a "Non-Fungible Token" on Ethereum.
Shanghai plans to explore fashion, retail, entertainment, travel, and all the uses of metaverse to create what will be the future of online commerce. Towards this it aims to allot $1.4 billion
The proceeds of the NFT sales will be used for the education of underprivileged children.
The total volume in DeFi stood at $6.65 billion, 8.73 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $$68.91 billion, which is 90.47% percent of the total crypto market 24-hour volume.
The price of Bitcoin is currently Rs 18.24 lakh, with a dominance of 42.60 percent. This is an 0.38 percent increase over the day
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The new venture fund will invest in technologies and financial innovations relevant to the art market, Christie’s said
Users can trade NFTs, interact with iconic sportspeople, buy virtual land and do virtual visits of stadiums.
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Most NFTs require tremendous amounts of computing power for their mining process. Green NFTs, however, are minted in a process that produces a negligible amount of carbon dioxide. This ensures that they are environmentally considerate and may even be climate positive.
The NFT marketplace said that an employee of its email vendor, download and shared email addresses associated with OpenSea accounts
Fitmint is a move-to-earn app with in-built NFT gaming and social-fi elements allowing users to earn rewards in crypto or NFTs by walking, running or working out
Michelin star Chef Vikas Khanna speaks to Moneycontrol on the launch of his 38th book, Sacred Foods of India, as an NFT. On the inspiration behind India's first 'phygital' book, Chef Khanna says that the best way to understand India is through the kitchens of its temples, dargahs, gurudwaras and Mother Teresa's kitchens. Readers can own an original NFT of the book along with the physical copy. Watch the video to find out why Chef Khanna's mother cried on seeing the book, how he promised his father he'll publish 50 books and why he believes this is the perfect time for the book's launch!
The artist’s Rags to Richie collection provides a street-art, play-to-earn NFT game, a Metaverse club and Digital Art Gallery, in-person exclusive events, and over $1 million in giveaways and prizes as part of its initial plans
'Sacred Foods of India' is the 38th of 50 books that Chef Khanna promised his father he would write, when he was just a child. It has taken Chef Khanna eight years to launch this book.
As part of the multi-year agreement, the Portuguese soccer star and Binance will create a series of NFT collections for sale on the company's platform, the cryptocurrency exchange said, adding that the first collection would be released later this year.
The move comes a month after eBay announced its debut collection of NFTs in partnership with Tezos and Polygon-based NFT platform OneOf. Manchester-based KnownOrigin has facilitated an NFT trading volume of $7.8 million since its launch in 2018.
To kick off the marketplace, IMVU is collaborating with metaverse-native luxury fashion house Auroboros to host a design challenge. The challenge is to create a couture digital design using iconic symbols and textures inspired by nature, created by Auroboros.
“Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch. He said he’s neither long nor short the asset class.
‘Ilm’ has been written and directed by Malhotra, and has one song by music director Samarth Swaroop. The background score is by Abhijit Vaghani.
The price of Bitcoin is currently Rs 23 lakh, with a dominance of 47.66 percent. This was a 0.98 percent increase over the day
Bitcoin's price is currently Rs 24 lakh, with a dominance of 46.65 percent. This was a 0.30 percent increase over the day
A survey showed that people interested in buying digital tokens want more flexibility — being able to pay with crypto for everyday purchases or using a credit or debit card to buy an NFT.