NFT Review 72 - how NFTs are decentralized
NFT Review 72 - how NFTs are decentralized
FTX NFTs break, billion-dollar metaverse fund, new RMRK-based game, and more.
NFT Review is a weekly newsletter covering NFTs in the Web3 ecosystem on Polkadot’s side of the woods. The newsletter is put together by Bruno Škvorc and gbaci.
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Looking for a primer on NFTs? This should be the last introduction you’ll ever need.
Dear NFT enthusiast,
The FTX collapse highlighted many flaws in the crypto industry. A couple of weeks ago, we wrote about how the effect of the debacle was bleeding into NFTs. Now the story is slightly different but perhaps more embarrassing.
In a recent tweet, Solana engineer jac0xb.sol pointed out that the metadata of FTX-hosted NFTs now points to a restructuring website that gives out information on bankruptcy proceedings. This is because the NFTs minted on FTX were hosted using a Web2 application programming interface (API), resulting in images not showing.
We realize that many people do not fully understand how NFTs are stored and what decentralized NFT storage actually means in practice. We made this video to help you better understand How NFTs are Decentralized.
Thank you for reading and have a great week.
— NFT Review
📬 NFT News from Kusama & Polkadot
RMRK published a new ecosystem report. Some notable updates:
Multiresource lego was merged as an EIP and is now being reviewed.
Initial WASM smart contracts development in-progress, led by the Astar team.
Inventory section on Singular NFT pages has been updated.
Subsocial announced a Spacers NFT giveaway.
RMRK published a clarification to the Kucoin US situation.
Check out this short thread on Nested NFTs to get more familiar with the concept.
The Polkadot Metaverse Championships has concluded. 5 teams participated in the 2 day hackathon to compete for PRIZE. There were a couple of projects based on RMRK, including a Chunky Recomposer–that makes it possible to replace colors and shapes of Chunky body parts.
apeXchimpz (creator of the ChaosApes and BuffChimpz collections) announced a new advanced collection called XChimpz.
PhalaWorld Shell incubation began on Dec 5th and Shell feeding has been ongoing.
Enjin Wallet 2.0, which makes distributing NFTs via QR codes a breeze, is out now.
Legends of Aethyr, a new turn-based RPG game built on RMRK, was announced.
🗞 NFT News from Ethereum and Beyond
Animoca creates billion-dollar metaverse fund for developers.
Opera Crypto Browser to enable instant NFT minting through launchpad.
Meta ‘powering through’ with metaverse plans despite doubts — Zuckerberg.
Decentraland launches virtual property renting for LAND owners.
Atari partners with Pixels.com to transform Atari NFTs into physical art.
Chinese court says NFTs are virtual property protected by law.
EU went all out on a Metaverse party, barely anyone came.
Author Tim Ferriss tops NFT sales charts with ‘Cockpunch’.
Winamp adds Ethereum and Polygon music NFT support.
DJs Steve Aoki and 3LAU form Cryptopunks supergroup.
Warner Music group to release Polygon music NFTs through LGND platform.
TIMEX launches $2,500 Bored Ape watches and matching NFTs.
Apple forces Coinbase to disable NFT transfers on its wallet app.
Bankless acquired Earnifi, a service that helps you discover your wallet’s unclaimed airdrops and NFTs.
Nifty’s announced support for Stripe’s new fiat-to-crypto onramp.
Finiliar is launching oracle connectivity and dynamic animations next week.
Pudgy Penguins attempted to auction 10 rare penguins via Sotheby’s.
RTFKT Egg claims are now live.
Rug Radio is preparing a PFP project with Cory Van Lew.
Manifold has released a new version of the Manifold Creator Contract.
Archipelago, a generative art marketplace on Ethereum, is shuttering on Dec. 10th, 2022.
nico.eth introduced an excellent new Dune Dashboard for Sound analytics.
Sound saw ~12,000 music NFT mints in Nov. 2022.
Decentral Games celebrated its 2nd anniversary in Decentraland.
Voxels launched a new token-gated parcels flow.
Uniswap launched its NFT marketplace aggregator service.
Tessera unveiled new collective NFT ownership mechanisms like Vaults and Raes, Last Price Dutch Auctions, and Optimistic Buyouts.
That’s all for this week, see you in the next edition! Got some links to share with us, artists to feature, NFTs to sell, jobs to promote, or events to popularize? Get in touch with Bruno or gbaci!