NFT News August 3, 2022

The Tumultuousness of the NFT Markets Isn’t Settling Down

Published

7 days ago

August 3, 2022

According to recent surveys conducted by market analysts, and more than a few polls distributed by private companies like The Cointelegraph, we get the impression that NFT fluctuations are not settling into a predictable pattern. Unless that pattern is defined by decline, then maybe you have a point. In any case, many investors have had a rough go of it lately, and their portfolios are suffering. However, there may be a light at the end of the tunnel yet. Some analysts, who won’t be mentioned here, are banking on a complete financial reset, as it were. They are predicting a kind of financial revolution; so let’s take a look at some historical examples that may hold water here.

The Prediction

Essentially, what is happening is hitting a lot of investors and collectors hard…really hard. And many people are keeping an eye out (desperately) for some logic in all the chaos. To this end, some professionals have identified the collapse of NFTs as nothing more than a temporary cold front that heralds a new season of growth. Others, more boldly, have said that this is only the beginning of a new era of finance.

So, are they right? It can be hard to tell, of course. However, their is sparse precedence for something like a revolution in commerce, it generally doesn’t happen all at once, however. Economic resets don’t typically happen in the space of a few months or years, even. All together, the shifts of power and money into a decentralized market may take a decade, according to some.

Interest

“At present, nearly 40% of the working population in the United States are freelancers, and the freelance market size is about US$1.5 trillion. Under the influence of the pandemic, working remotely and working online have become common modes of work and are likely to become regularly and universally adopted in the long term, and the number of freelancers and economic scale will increase exponentially…The market has shifted from being dominated by the long-term employment relationship to short-term or flexible modes of work, demonstrating the huge market potential of freelancing and gig economy.” Braintrust Interview

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Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading. He started writing about the Metaverse, as he thinks its the future of everything AI related.

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NFT News

This NFT Collection Explodes in Value Over the Weekend

Published

27 mins ago

August 10, 2022

Billy Houghton

The oddly and aptly named NFT collection called CryptoDickButts is seeing an incredible increase in value. At this point, some of these collections, by analysis of the name alone, are vehicles for immense wealth shifts for the people who program them. Are they making fun of us, or do they know something we don’t? Let’s find out in the article we have prepared for you today. We want to detail some of the reasons this increase in the CryptoDickButts value has occurred, and ask the question, why should you care?

The News

Recently, if you’ve been looking into NFTs, you’ve likely seen that the markets are down. Now, whatever reasons there are for this, we want to look into how you should evaluate the pros and cons of purchasing NFTs. Just because one NFT in a wide collection of NFTs, and therefore boosts the overall value of the collection, doesn’t necessarily mean that you should invest.

Interest

“NFT gives artists and authors the opportunity to monetize their work. All creative industry enthusiasts need is to join the digital ecosystem, create their own product, and put it up for auction. Thousands of creative people no longer need to rely on galleries or auction houses which involve paying margins. They can use the BTC ecosystem to publish a variety of files — musical works, paintings, collages, animations, etc. Furthermore, any artist can do this without intermediaries by sending the work as NFT directly to the art collector. Users can program licensing fees to earn money each time their product is sold to a new owner.” -Yahoo Finance

NFT News

What Makes NFTs Secure, and Will This Change For the Better?

Published

5 days ago

August 5, 2022

Billy Houghton

We’ve written before about the security features that are inherent in the NFT world. We’ve even written about the nature of dynamic NFTs, which are even more interesting from a coding perspective. Yesterday, we detailed the team up between two companies that have reimagined the nature of NFT security. Today, we want to talk a little about what makes this security so important, and examine whether or not this will be the case in the future of NFTs. Even with the recent (some say temporary) decline of the NFT markets, the security aspect is still interesting.

The Prediction

Security for these assets is based on the code that makes them unique. When a buyer acquires an NFT, he or she is given a spot on the blockchain that identifies them as the sole possessor of the code that identifies the actual NFT.

With dynamic NFTs, this is slightly different. The blockchain still preserves the record of the NFT and the original purchaser, but the base code, from the Metadata to the art itself, can be programmed to change. So, this means that the cataloguing information can change, and the search engines that categorize them will shuffle them around a bit. This can add a depth to the security aspect.

Interest

“There is a very uneven distribution, and a small number of whales controlling most of the value in the system. But from my point of view, this system is so young and we are only seeing the beginning of it. The Bitcoin market cap is now 40% of the total crypto market cap, and it’s been going down consistently. In the last year, you’ve seen the rise of so many new alternative layer ones, or second generation blockchains that use proof of stake. Crypto adoption is growing at an astonishing rate worldwide.” -Time

NFT News

Sony Ent. Seems to Be Ambivalent About NFTs, or Are They?

Published

5 days ago

August 5, 2022

Billy Houghton

Sony Entertainment has said precious little about NFTs and what they think of them. But recently, they have constructed and launched a poll asking people whether or not they would be interested in NFTs and digital assets. This seems to be a bit of a departure from the attitude they have displayed regarding the diverse markets of NFTs in the past. Just shortly after Sony launched PS Stars, the rewards program of which is not based on NFTs, they asked participants if they would indeed be interested in being compensated with NFTs instead.

The Prediction

It sounds to many analysts that Sony is hedging its bets regarding NFTs, largely because they be back on the rise after this quarter’s impressive downturn. Basically, what has happened in Sony’s poll launching is a kind of rescinding of their previous opinion or stance toward NFTS.

This may not exactly be the case, and some experts agree that this isn’t just a corporate realignment based on a a miscalculation. Anyway, what does this mean for NFTs and Sony in general? We don’t yet know, but it does seem to be something to be paying attention to for investors.

Interest

“Now, Sony PlayStation seems to be aiming at a different approach. According to a report from The Washington Post, the company announced a loyalty program called PlayStation Stars. The program will be lunch at some point during 2022 with plans to expand to the Americas, Europe, and Asia. Grace Chen, Vice President of Network Advertising at the company, said the following regarding Sony’s new earn program.” -Bitcoinist