NFT News August 5, 2022

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

Published

4 months ago

August 5, 2022

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

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NFT News

A Huge Ticket Selling Agency Just Made a Leap On Blockchain

Published

3 months ago

August 31, 2022

Billy Houghton

A Huge Ticket Selling Agency Just Made a Leap On Blockchain. Ticketmaster, the vending giant, just decided to seal a deal with the Flow blockchain. This deal entails one of the largest movements by a mainstream entity to endorse and utilize blockchain technology. Tech Crunch just told us that “Ticketmaster will now let event organizers issue NFTs (non-fungible tokens) tied to tickets on Flow, a blockchain operated by a16z-backed Dapper Labs.” This is an interesting move from an unlikely source, and in this article today, we will be discussing this deal.

The Scoop

Last year, when this arguably began, Ticketmaster made another deal with Polygon, which is based on the Ethereum chain. This was done to offer NFL fans the ability to buy virtual tickets on the blockchain. Now, we have a new deal that brings this move to full fruition.

“Event organizers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale. This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.” Brandan Lynch

The Host’s Perspective

“Its partner for this project, Dapper Labs, which raised $250 million at a $7.6 billion valuation last year, is no stranger to sports-based digital collectibles distributed through Flow. It’s well-known as the creator of NBA Top Shot, an NFT marketplace for basketball fans to buy, sell and trade cards of players and top moments in the sport.” -Tech Crunch

NFT News

How Has NFT Security Changed Since One of The Worst Heists?

Published

3 months ago

August 31, 2022

Billy Houghton

The cyber security market is bigger than ever, and shows no signs of slowing. This is, of course, in part due to the fact that the internet is playing larger and larger roles in our lives. Yes, even though another theft has occurred and it apparently happened over the course of an entire month. How bad was the damage? Well, painfully, we have received news that over 100 million dollars of assets were stolen and duplicated. The duplication glitch is something we’re still looking into. But, for now, we need you to be aware of some of the broad ideas that have impacted this security breach.

The Scoop

As it turns out, several companies want to compete with the monolith that is the Oculus VR tech. Incidentally, Sony has announced the launch of the project that they hope will contend with that system. Not only has this been highly anticipated by gamers, but consumers in general as well.

The PS2VR will showcase Sony’s highly anticipated haptic feedback gear along with a sleek headset that blends well with their overall design theme.

The Host’s Perspective

“The road to launch for PlayStation VR2 is in full swing, and we can’t wait for you to try the exciting new games and experiences you’ll be able to explore with our next-generation virtual reality headset. As we continue with our launch efforts, today, we’d like to offer a quick peek at some of the user experience features you’ll discover on PS VR2. ” -Sony Blog

NFT News

NFT Laundering May Not Be As Big A Problem As Once Thought

Published

3 months ago

August 30, 2022

Billy Houghton

NFT Laundering May Not Be As Big A Problem As Once Thought. Of course, there have been a few thefts reported recently, and that’s still a problem. Yes, another theft has occurred and it apparently happened over the course of an entire month. How bad was the damage? Well, painfully, we have received news that over 100 million dollars of assets were stolen and duplicated. The duplication glitch is something we’re still looking into. But, for now, we need you to be aware of some of the broad ideas that have impacted this security breach.