NFTY Journal: Chapter 35
It is with great delight that we welcome you to the NFT Journal’s thirty-fifth edition.
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Anticipated NFT Projects in April 🚧
Earlier this year, Samsung stated that its smart TV would include an NFT marketplace displaying verified minted NFTs. To achieve this, Samsung teamed up with Nifty Gateway to deliver digital services aimed at improving consumers’ NFT experience. In addition, users will be able to pay with various payment methods, including debit cards, credit cards, cryptocurrencies, etc.
Similarly, Toonmics, one of South Korea’s largest Webtoon companies, will launch TooNFT, a webtoon Blockchain platform. The platform will facilitate digital assets exchange between authors, users, and investors without intermediaries. It will also feature impressive content subscription services, content selection through DAO governance, community development, NFT infrastructure, and profit-distribution systems.
Likewise, Visa has officially announced the launch of its Visa Creator Program, an initiative to educate creators such as artists, filmmakers, and fashion designers about the NFTs while providing a mentorship program to help them grow their small businesses. Aside from education and mentorship opportunities, the platform will provide participants with a creator community, stipends, and other incredible perks.
Lastly, prepare to trade your favorite Solana-based NFT at the Opensea marketplace. Opensea has confirmed that Solana-based NFTs will be listed on its marketplace in April. This recent development makes Solana the fourth Blockchain supported by the Opensea marketplace after Ethereum, Klaytn, and Polygon.
Regulating the NFT Industry ⚖️
The digital asset industry is set to be regulated following recent orders by US President Joe Biden. The administration proposes six policies to ensure that NFT and Cryptocurrency are legally controlled. These policies will also aid in the prevention of illicit financial activities, protect people’s digital properties, and the overall economic growth in the United States.
Similarly, the India Finance Bill 2022 has been approved, and it includes a 30% tax rate on cryptocurrency and digital assets. Although the country has yet to establish a regulatory policy to manage the industry, digital asset communities have expressed their displeasure with the tax decision due to the negative impact on the industry. They fear that there may be a significant decrease in NFT trades and Cryptocurrency in India due to these harmful tax regulations.
Market Roundup 🚀
Last week, the most expensive NFT was Azuki #9605, which sold for $1.42 million. A CryptoPunk ranked second with a sales price of $731.94k. The third and fourth NFTs on the list are from the Bored Ape Yacht Club NFT collections. On the top 5 list, a CloneX NFT was the least expensive NFT, selling for $645.92.
With $216.22 million in sales, Terrafoams by Mathcastle’s NFT collection retains its top spot on the top 5 NFT collection list. Meebits came in second with a sales volume of $100.96 million. 3Landers and Bored Ape Yacht Club came in third and fourth place, respectively, with $36.29 million and $33.88 million in sales volume. CryptoPunks is at the bottom of the top 5 list, with $29.89 million.
Looksrare maintains its position as the top NFT collection amassing $708.79 million in sales volume. Opensea came in second with $625.08 million. Third and fourth are CryptoPunks and Mobox, respectively, with $10.37 million and $8.57 million in sales. NBA Top Shot is at the bottom of the list, with $7.72 million in sales.
On the investment front, Fuel, a creator-centric NFT platform, has secured $1.66 million in funding from Seedcamp and FintechCollective. It intends to make music-related NFTs available to fans and facilitate fan relationships with creators and musicians.
About NFTY Labs
NFTY Labs is a foundation 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.