NFT Olympic Pins Marketplace Launched Ahead Of The Olympic Games

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nWay, a subsidiary of Animoca Brands, today launched nWayPlay.com, the home of officially licensed Olympic non-fungible token (NFT) Pins. Collectors can purchase assorted boxes of NFT Olympic Pins on nWayPlay.com starting June 22, with the peer-to-peer transaction functionality on the marketplace to come online on June 29. 

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nWayPlay.com is a new decentralized marketplace for collectors and gamers to buy, sell, and play-to-earn various NFTs with officially licensed IPs. The marketplace will be connected to various games on nWayPlay’s platform – including the real-time Olympic-themed competitive video game to be launched in the lead up to the Olympic Winter Games in Beijing 2022 – and powered by the Flow blockchain, which offers a unique combination of scalability, usability, and environmentally sustainable features. Flow is a Proof of Stake (PoS) blockchain that does not consume large amounts of electricity that Proof of Work (PoW) blockchains, such as Ethereum and Bitcoin, consume.

Unlike Ethereum-based NFTs that deter purchases of lower-priced NFTs due to high gas fees, the Flow-based marketplace will support a low transaction fee and wider spectrum of prices, allowing more mainstream fans and collectors to participate.

The NFT Olympic Pins are part of the Olympic Heritage Collection, which celebrates the art and design of the past Olympic Games and reflects the graphic legacy of the world’s largest sporting event, such as posters, emblems, pictograms, and mascots from 125 years of modern Olympic Games. The NFT Olympic Pins are digital versions of collectible and tradeable Olympic Pins, which will have various properties generally associated with physical pins, including authenticity, scarcity, and provenance, making them true collectors’ items.

“Today marks the beginning of a new Olympic-themed digital entertainment experience consisting of NFT Olympic pins and crossplay multiplayer video games that we are developing as part of our new licensing agreement with the International Olympic Committee,” said Taehoon Kim, CEO of nWay. “We built nWayPlay on the Flow blockchain, the same platform used by NBA Top Shot, because its energy consumption associated with NFTs is dramatically lower than Proof of Work-driven alternatives.”

Collectors can obtain unique and officially licensed NFT Olympic Pins in three ways:

1) by purchasing assorted boxes on nWayPlay.com;

2) by purchasing specific pins directly from other collectors on the nWayPlay Marketplace,

or 3) by earning them free of charge by playing a real-time Olympic-themed competitive video game connected to nWayPlay and to be launched in the lead-up to the 2022 Olympic Winter Games in Beijing.

About nWay

nWay, a subsidiary of Animoca Brands, is a San Francisco-based developer, publisher, and tech platform for competitive multiplayer games across mobile, PC, and consoles. The company has a strong track record of developing AAA quality games on mobile and console, such as recently launched WWEⓇ Undefeated, POWER RANGERS: Battle for the Grid, POWER RANGERS: Legacy Wars, and ChronoBlade. nWay is comprised of leading developers and senior executives from Sony, Electronic Arts, WB Games, LucasArts, Kabam, Nexon, and NCSoft. The team has collectively contributed to over a dozen hit mobile, console, and online games, including Marvel Contest of Champions, the Injustice series, Star Wars: The Force Unleashed, Dominations, FIFA, Battlefield Online, Lineage II, and Warhammer. For more information about nWay, visit www.nway.com.

About Animoca Brands

Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, gamification, and artificial intelligence. Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1, Marvel, WWE, Power Rangers, MotoGP, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Quidd, Gamee, nWay, Pixowl, and Lympo. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.

About the International Olympic Committee

The International Olympic Committee is a not-for-profit, civil, non-governmental, international organisation made up of volunteers which is committed to building a better world through sport. It redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of USD 3.4 million goes to help athletes and sports organisations at all levels around the world. For more information, please visit www.olympics.com.

About the Olympic Heritage Collection

The Olympic Heritage Collection is one of the IOC’s three Global Licensing core programmes, and it centres on past Olympic Games, lifestyle and high-end products with limited editions aiming to connect the audience with Olympic history through the art and design of previous editions. The target is Olympic enthusiasts and anyone who would like to own a piece of Olympic history.

Are NFTs This Decade’s Investment Megatrend?

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NFT market will become an integral part of the “tech investment megatrend” of the next decade, affirms the CEO of one of the world’s largest independent financial advisory and fintech organisations.

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The comments from Nigel Green, deVere Group chief executive and founder, come despite the drops of about 80% in recent days in the NFT market from a peak of $102 million in NFT transactions in one day at the beginning of May.

What Is NFT?

NFTs are digital collectibles that are encoded onto a blockchain – the same technology on which cryptocurrencies run – creating a unique digital watermark showing ownership and the digital rights to that collectible.

In recent months many major global sports franchises, fashion brands and household name artists and musicians have launched NFTS.

In April, auction house Christie’s sold “Everydays” the First 5000 Days,” a digital artwork in JPEG form by an artist known as Beeple, for US$69.3 million – making it the third-most-expensive work ever sold by a living artist.

NFT – A New Market For Investment

Mr Green notes: “The temporary drop in NFT transactions in the last few weeks is not surprising. It’s still a very new market that many investors still do not understand or even know about.

“However, technology will inevitably be the investment megatrend of the decade and, I believe, that we can expect NFTs to become an integral part of this.”

He says there are four main reasons why this is the case. “First, our daily lives are becoming ever more tech-driven – and this is picking up momentum all the time. Second, it is about demographics. With the younger demographic – who are “digital natives,” having grown up under the ubiquitous influence of the internet and other technologies – who have increasing spending power, there will be increasing demand for tech-orientated products such as digital investments. Third, there’s increasing interest and investment in cryptocurrencies, which is how NFTs are purchased. Fourth, NFTs are positively changing business models, especially in the creative industries.

“Artists and musicians for example can provide enhanced virtual experiences for collectors and buyers, they can prove their works are not counterfeited, and they can include criteria to get royalties every time their works are resold in the future.”

Things To Keep In Mind When Investing In NFT Market

But Mr Green recognises that there are still many NFT sceptics. “Some traditionalist commentators have dismissed NFTs as a fad and/or a bubble about to burst.  I would suggest that these would have been the people, including some tech experts, to have also dismissed the internet in the 1990s and the likes of Amazon in the 2000s as ‘hype.’

“The bottom line is that millennials and Gen Z especially have digital lives and it’s natural to want to take digital representations of luxury brands, music and art into these worlds – and now they can – and this has value.”

However, the deVere CEO concludes with a warning: “NFTs will have growing dominance within the tech investment megatrend of this decade.

“But the market is very young and highly speculative at this stage and, as such, the risks are high.  Extreme caution must be exercised”.

NFT.Storage: Preserving the Data of the Multi-Million Dollar NFT Industry

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NFT.Storage Service built on Filecoin and IPFS protects asset integrity through decentralized persistence and content addressing

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NFT Storage service is backed by Protocol Labs and Pinata

Projected to reach a market capitalization of $710 Million in 2021, the non-fungible token (NFT) market is witnessing a significant surge, however, the growing library of new assets being minted as NFTs are at risk of manipulation or loss.

Today marks the launch of NFT.Storage, a service backed by Protocol Labs and Pinata specifically for storing NFT dataNFT.Storage lets developers store NFT data on decentralized networks easily, securely, and for free. With just a few lines of code, anyone can leverage the power of IPFS and Filecoin to ensure the persistence of their NFT data.

Commenting on the launch, Mikeal Rogers, Engineering Manager at Protocol Labs, said, “NFTs are part of humanity’s cultural legacy – and designing their data for long-term accessibility is crucial. Content addressing and distributed storage networks ensure that digital artwork, basketball cards, and virtual real estate are guaranteed to stay secure and available long-term. NFT.Storage makes it completely frictionless to mint NFTs following best practices through resilient persistence on IPFS and Filecoin.”

How NFT assets are stored

NFT.Storage uses IPFS to create digital fingerprints for all new NFTs, which universally reference the content regardless of how or where it is stored. Using these fingerprints to reference NFT assets and metadata prevents problems like NFT assets disappearing or getting “rug pulled”. NFT.Storage uses Filecoin to preserve NFT assets and metadata with dozens of global storage providers to ensure that the content is publicly accessible without a central point of failure for the long term. Filecoin also provides publicly verifiable proofs that content is being stored over time, so anyone can verify the data’s integrity and availability.

NFT.Storage is designed to support NFT applications like Palm, a new NFT protocol being brought to market by Protocol Labs and ConsenSys, which also relies on IPFS and Filecoin for decentralized storage. The Palm network, which will operate on its own environmentally-friendly Ethereum sidechain, saw world-renowned artist Damien Hirst releasing a collection entitled ‘The Currency Project’ as part of the launch.

Filecoin, the world’s largest decentralized storage network, also powers the VideoCoin marketplace. Filecoin recently surpassed 4 billion gigabytes in storage capacity, making the network capable of storing over 1.2 billion 1080p high-resolution movie files. VideoCoin integrated with Filecoin to protect the provenance of their videos with NFTs, addressing pain points around video veracity.

To be one of the early participants in NFT.Storage and start storing your NFT data securely for free today, visit https://nft.storage.

Live Webinar: Decoding the NFT Business Models

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The recent turn of events in the NFT domain is quite surprising. As NFTs are being sold for millions and creating new market dynamics, entrepreneurs worldwide are prospecting the NFT space, to launch new businesses and invent new business models on top of NFT infrastructure.  There are a wide variety of use cases for NFTs. These applications keep growing as time progresses and innovators are constantly finding new ways to utilize this technology.

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Decoding The NFT Business Models

What exactly is an NFT? How does it work? Or How can you create one? How to get started with an NFT business? Is NFT a bubble that’s about to burst? How to launch an NFT marketplace? What are the legal requirements for launching an NFT business?

Accubits Technologies is hosting a webinar to discuss the opportunities and challenges in the NFT domain. Registration is open for the live webinar which will be conducted on the 27th of April, 2021 at 7.30 PM CET (GMT +2). The amazing line of panelists in the webinar includes;

Dinis Guarda – Executive Chairman, Open Business Council

Morgan Deane – CEO of Swiss Investment Bank – Baader Helvea. Forbes Finance Council Member

Sandeep Sangli – Co-Founder at Kalamint (NFT Marketplace), Head of Business development Tezos India Foundation

Daniel Sloan – Co-Founder and Blockchain Practice Manager at Futuretech

Rahul AR – CIO and Head of Blockchain, Accubits Technologies

Shameer Thaha – Chief Strategy Officer, Accubits Technologies

In the webinar, the panel would discuss the opportunities and challenges in the NFT space, legal considerations for launching an NFT business, the scope of launching an NFT marketplace with whitelable NFT marketplace platforms. Technical considerations and blockchain development aspects of NFTs, the concept of clean NFTs and more.

Grab your tickets to the free webinar here : WEBINAR REGISTRATION