#13 Newsletter Mr.Advice

#13 Newsletter Mr.Advice
NFT stands for Non-Fungible Token. Welcome to the world of NFT…

It is a digital resource that has no equivalent. Each token is unique and cannot be copied. It also cannot be transferred without the owner’s consent. Adoption of NFTs is going strong and popularity is growing. It is worth taking a look at the areas where NFTs are gaining and are likely to continue to gain in popularity. 

Art

This is where it all started actually, as the first digital artworks made waves. Many of you have probably heard of American Mike “Beeple” Winkelmann, whose collage called “Everyday: The first 5000 days” sold for $69 million. This was followed by the hit Cryptopunks, which also reached million-dollar valuations.



Gaming

This trend is going like a storm, there are a lot of interesting things happening here. NFT cards are becoming an integral part of games and as you can see the major giants are getting into it. The current play-to-earn trend has become very popular, led by the Axie Infinity game, whose popularity is increasing every day, with their token price approaching $200. The characters in this game are small creatures that you battle in various arenas and are rewarded with tokens. The creatures from Axie Infinity are hosted on the Ethereum blockchain as ERC-721 standard tokens. Other games worth mentioning are GoldFever, CryptoBlades or NeonDiscrict. A giant such as EA Sports has recently hired a director to be in charge of the department implementing NFT and getting in on the play-to-earn trend in games such as FIFA.

Brands such as Louis Vuitton have also entered the NFT world with their game. There, the Vivienne doll embarks on a journey in which she must collect 200 candles to pay tribute to the brand’s creator. Embedded in the worlds where she moves are 30 NFTs designed by “Beeple”. These items are collectibles and once they are acquired they go into our wallet.

Interactions in the games take the form of NFT transactions. Tokens, which represent specific items in the game, can be traded on the blockchain where the game is played or on dedicated marketplaces. 

Sport

When talking about sports, it is impossible to ignore the Chilliz platform, which issues collectible club tokens. On the market we have tokens of many giants such as Chelsea, Juventus or PSG, and also from the Polish subsidiary we can purchase a token of Legia Warszawa. Additionally, Lionel Messi, a PSG footballer, receives a part of his salary in PSG tokens. In this way, sport, gaming and e-sports are becoming increasingly connected. Owning tokens can influence the ability to vote on certain aspects regarding the club. This is rewarded with discounts on the purchase of new tokens, for example.

It is also possible to trade cards of players, such as in the game Sorare, or moments from their career (action, goals, interventions) as in the projects RealFevr (football) and NBA TopShot (basketball).

Cristiano Ronaldo as a character in the Sorare blockchain game was paid $289,920. Not surprising, as his digital character only appears once in the game and is unique. A moment with Bruno Fernandes in the RealFevr game was paid 199BNB ($91,000). Individual moments/characters in games have their own unique abilities that allow for better performance in the game.

Property

Data stored in a token on the blockchain can also be used to digitally map virtual real estate. In smart contracts, everything is contracted and signed digitally. A transaction on the blockchain is a security for either digital or physical real estate. One project in this genre is Upland (game) and TerraLand developed on the Terra network.

Upland game:


Music

Music creators can use NFTs to generate revenue to compensate for the loss caused by slowing record sales and reach new audiences faster.

More and more fans are buying NFTs because they want to support their idols. The fans are not indebted to NFT, offering tokens, which can be, for example, a previously unreleased song or video.

In partnership with Opulous, financial services company Republic has launched Republic Music to create, produce and share royalties from music via NFT with artists.

https://beincrypto.pl/republic-wprowadza-zabezpieczenia-nft-dajac-fanom-muzyki-udzialy-w-tantiemach-dla-artystow/

Fashion, clothing

Digitally signed shoes, T-shirts or sweatshirts are no longer an abstraction, as giants are increasingly catching on to this type of solution. Adidas has recently partnered with the Sand project. QR codes on clothes or shoes will appear faster than you expect, plus you will be able to transfer the item to the blockchain and create your avatar in the virtual world identical to the real one.

The same can apply to jewellery, if you want to tokenise it. You would then receive a digital certificate detailing the uniqueness and quality of the product. All this is to eliminate the possibility of creating fakes.

https://pageloot.com/wp-content/uploads/elementor/thumbs/qr-codes-on-clothing-p6e64035lb4lu3h7axlgc17hbwenpa6nzfvtk3yz2s.jpg

Supply chains

Information about the storage location and transport method can also be included on products. In shoe production, the time stamp and its data can be mapped. After each logistical step, the time stamp is renewed and the relevant metadata is added to each product, which is then proof of its originality. Such solutions ensure transparency, security and lower costs.

Usefulness will also be noticed in the food industry, where TradeLens and IBM Food Trust systems are used.


News:


Snoop Dogg enters the world of metaverse

Snoop Dogg, wants his digital residency in the metaverse. The musician has set his sights on the digital world of The Sandbox project. He is the next artist to take an interest in this metaversum. In November, a virtual concert was announced here by Justin Bieber, who is also very popular. Snopp Dogg on his Twitter invited people to visit the Snoopverse and informed fans about the sale of Snopp Dogg Land.


Facebook changes its name to Meta

Facebook will officially change its company name to Meta. This has to do with the giant’s future plans. According to Zuckerberg, the company decided to do this because the name Facebook is not fully in line with its future vision. The head of the social media giant added that as the company moves forward, it will focus on the metaverse first and social media second. It intends to spend $10 billion on developing its own metaverse.


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