NFTY Labs
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NFTY Labs

NFT Journal: Chapter Forty-Five

It is with great delight that we welcome you to the NFT Journal’s forty-fifth edition.

Shaping the Future of NFTs With Innovative Projects 🔭

Solana Ventures, a Solana Labs’ investment arm, has launched a support fund for South Korean Web3.0 start-ups and programmers. The $100 million capital will fund Web3.0 projects that include NFT, DeFi, and GameFi applications. In addition, the popularity of NFT and GameFi in East Asia, particularly in South Korea, motivates the capital investment to provide consumers with high-quality and engaging games.

Also, Mastercard is introducing flexible payment alternatives for NFT enthusiasts. The payment technology firm partnered with seven NFT and crypto platforms, including Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Moonpay, to enable its users to purchase NFT on these platforms using their debit or credit card. It intends to make NFT more accessible, improve customers’ safety, and secure their data during NFT trades.

Similarly, Samsung, a global electronics company, employs Discord to promote its Web3.0 and Metaverse projects. The virtual community is a marketing strategy that allows consumers to interact and socialize while offering them exclusive digital items, NFT giveaways, VIP event access, and engagement prizes. The virtual community hub garnered 100,000 users within 12 hours of its opening in anticipation of the thrilling experience the community wants to deliver.

Another fascinating NFT project that caught our eyes is the Buy My Cancer, a designed funding model that provides treatment funds for cancer patients.

OpenSea Moves to Combat NFT Scam and Theft 🎨

Opensea has been working hard to repair its tarnished reputation, actively developing tools to help curb recurring NFT scams and fraud incidents on its platform. The well-known marketplace has developed technical tools to eradicate fraud, such as a verification system that verifies the authenticity of users’ accounts and NFTs. Another nice feature is the Copymint fraud prevention system, which detects duplicate NFTs and helps limit fraud.

Opensea

Other features like In-Product Reporting, Account Compromise Tool, and Smart Moderation Tools are available. We hope these newly launched tools will help revive OpenSea’s core values of trust, safety, and customer experience by preventing NFT scams and fraud.

Market Round-up 🚀

Yuga Labs continues to dominate the top five most expensive NFTs list, with NFTs from Otherdeed and Bored Ape Yacht Club dominating the list.

Terrafoams by Mathcastle remains the top NFT collection with a volume of $17.67 million. With a volume of $15.45million, We Are All Gone ranks second. GoblintownNFT and Bored Ape Yacht Club are third and fourth with $13.19million and $8.84million. Catgirl Academy is at the bottom of the list, with $8.62million in volume.

As usual, OpenSea and LooksRare maintain their top NFT marketplaces spots. Magic Eden and CryptoPunk are ranked third and fourth with $36.13million and $3.81million in volume, respectively. NBA Top Shot is the last on the list, with a book of $2.51million.

About NFTY Labs

NFTY Labs is a Web3 Incubation Studio focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.

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