The nonfungible token (NFT) market is growing. According to a new report by analytics platform DappRadar, NFT trade volume soared past $10 billion during the third quarter of 2021, a sevenfold increase from the previous quarter’s figure. Although a significant slice of that action comes from runaway hits like NBA Top Shot, CryptoPunks and gaming platform Axie Infinity, NFT use cases are rapidly proliferating as creators recognize their potential. In the not-too-distant past, celebrities keen to profit from the burgeoning crypto scene had few options. Mostly, they were limited to shilling an initial coin offering (ICO) or investing their own …
After two years and many COVID-19 restrictions finally subsiding, the world is welcoming the return of in-person theater, movies, comedy, music and sports. This has left some wondering what will happen to the legions of digital creatives who occupied and entertained us while normal life was at a standstill — and to the multibillion-dollar economy they inhabit. Will the world forget the platforms and artists they discovered during the pandemic now the doors of festivals, fashion shows and concerts are open to them again? Is the creator economy, which recent estimates suggest will exceed $100 billion this year, strong enough …
There is no denying the fact that the crypto adoption wave sweeping the globe right now has resulted in a growing list of defunct brands making their way into the digital asset market in recent months. Just two weeks ago, once popular music platform LimeWire announced that it is going to be making a comeback, albeit as a marketplace for nonfungible tokens (NFTs) rather than a file-sharing service. LimeWire’s return seems to largely be hinging on its once-held brand power backed by the company’s belief that its early 2000’s fame will allow it to make its way into the competitive …
Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million, making NFTs a media hotshot and opening the floodgates for a string of other NFT sales, many of these in millions of dollars. Prompted by the plentiful talk about NFTs, stars like Paris Hilton, Lindsay Lohan, Eminem, Grimes and many …
Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans. Recently, the crypto-savvy Snoop Dogg partnered with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that crossed genres and created new communities in the process. While Snoop may be a veteran in the space, many musicians find the Web3 world a whole new frontier. Cointelegraph spoke with Bernard Alexander, the head of IP at the company Animal Concerts which facilitated the aforementioned NFT collection, …