NFT

Rarify's software to simplify NFTs for big corporations has promise. Right now, though, more than a quarter of its staff is living through a war.

Tsivtsivadze and cofounder Lasha Antadze are Georgian. (They first met attending a prestigious high school in Tbilisi.) Antadze had been living in Ukraine, too, until flying out a few weeks ago. Shutterstock has signed on to test out Rarify’s tech, and Oringer wrote Tsivtsivadze the first check for Rarify, part of a $3 million seed round last year that included Greycroft and Einac Ventures. What if we could cut down on that from 14 steps in the process to 3 steps?” Further into the future, Rarify thinks it might be able to build some type of investment software to gauge the investment value of NFTs, which remain a volatile and unregulated asset class.

With the evolution of the cryptocurrency space, insurance offerings are evolving as well. Key points. All-time sales of non-fungible tokens (NFTs) have ...

Because of the complexity of the NFT asset class -- compared to, say, buying insurance for a Monet, Rolex watch, or first edition of a Charles Dickens novel -- Henley says the NFT owner has to have a clear understanding of what they want to protect, "What are you buying protection for? And to find the one that's right for you, you'll need to decide what features that matter most to you. For the authentication of the JPEG? Having protection of a token when the metadata has been compromised -- it’s important to understand what protection you are buying." "Coincover can implement our tech via [application programming interface] API to protect the wallets of our partners and the NFTs that sit within them from hacking, phishing, and other malicious activity -- whilst offering an insurance-backed guarantee should anything happen," Henley explained. Sharon Henley is the vice president of Research & Development of Coincover, a leading insurance provider within the crypto space that's based in the U.K. She confirmed through an email exchange that Coincover now offers corporate and consumer protection through an insurance-backed solution for NFTs. Protecting NFTs is just part of our business to help the whole sector become more accessible to all by making it safe," Henley shared via email. Once an NFT is sold, the unique transaction is added to a blockchain that cannot be hacked, changed, or manipulated. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. "Coincover is on a mission to make crypto accessible to everyone by making it safe. But trends that attract a lot of money also tend to attract a lot of fraud and theft. The NFT-linked blockchain data validates proof of ownership of the underlying asset -- whether the asset is something physical or virtual. In Jan. 2022, the largest NFT marketplace in the world, Opensea, recorded single-month sales of more than $5 billion.

NFTs are essentially digital receipts recording ownership of digital and physical assets such as art, videos, wearables, or objects on a blockchain, that have ...

Crypto analysts believe that the craze of NFT will die down and after it does, cryptocurrencies and NFTs will be standing in a very similar situation. As NFTs are becoming more popular by the day, their disparities show that cryptocurrencies and NFTs are operating in distinct markets. Now, this has made several other investors question the value of NFTs. But even though some of the cryptocurrency specialists question the value of NFTs, it is still quite evident that this investment class is all set to surge in the future. There are over US$2.5 billion in NFT sales in the first half of 2021; almost US$1.2 billion in NFT in the month of July alone. NFTs are basically a part of the phenomenon that is revolutionizing finance, particularly around the way people invest in art, music, and sports. NFTs are essentially digital receipts recording ownership of digital and physical assets such as art, videos, wearables, or objects on a blockchain, that have entered the cultural mainstream with a seemingly unstoppable force.

While anecdotal evidence that the NFT market is beginning to cool abounds, there are no bigger red flags that what's going on with sales and prices.

Since Feb. 24, when Russia attacked Ukraine, the average selling price has dropped by about 30%. The tally was $160.2 million on Jan. 31. While anecdotal evidence that the NFT market is beginning to cool abounds, there are no bigger red flags that what’s going on with sales and prices.

WazirX NFT Marketplace has launched an initiative called Nano NFT, where creators can set up their own smart contracts, making the entire process of minting ...

Commenting on the development, Sandesh Suvarna, vice-president, WazirX NFT Marketplace said, “As a platform, our aim was always to ensure that we create a credible space for artists and their art to thrive on. With the Nano NFT initiative, we are empowering creators and giving them all the tools to ensure that from their 1:1 NFTs and to their collections/projects, everything becomes a huge success. On the WazirX NFT Marketplace, smart contracts for collections can be thought of as folders containing NFTs. The NFTs are kept in one place if you mint them for a smart contract. The smart contract gives creators full ownership over their collections. In order to solve all these creators' problems, smart contracts were introduced. ‘ 10K’ is the number of the total NFTs collection population.

This week, our columnist takes to OpenSea to raise money for Ukraine with the help of Kevin Abosch, Olive Allen, Nicole Ruggiero, and others.

While many of the works donated to NFTUkraine are political in nature, expressing concerns over the present state of the country and its citizens, there are plenty of others that reflect the donors’ daily practices. For the turn of events instigated by Russia is beyond a regional conflict but rather a tragedy confronting the world. Want to stay ahead of the art world? NFTs are a tool, a digital certificate of authenticity, unless makers utilize the smart contract as content, in which case they are art. Yes, concerns that the Russians are using cryptocurrency to evade sanctions are legitimate and unsettling. On Sunday morning, I saw a plea from the inimitable president of the Ukraine, Volodymyr Zelenskyy, seeking financial assistance for his country’s efforts to resist the Russian invasion.