NFT Marketplace Financial News

Core Foundation, which aims to create a secure and decentralized ecosystem for dApps, is launching a non-fungible token (NFT) marketplace.

Mercedes-Benz NXT, the German automotive giant’s Web3 arm, is launching a new non-fungible token (NFT) collection in partnership with Mojito, a suite for creating NFT marketplaces.

The AI-driven cryptocurrency project yPredict has rapidly gained attention as its native token presale recently surpassed $5 million in funding.

China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has allocated a substantial 2.813 million Yuan ($390,000) to build its own metaverse and a non-fungible tokens (NFT) platform.

Joining the broader cryptocurrency market uptrend today, Render Token (RNDR) has exhibited bullish price action for most of the day. The RNDR price touched its 50-day moving average for the first time in almost two months earlier today.

As blockchain technology continues to seep into mainstream finance, major banks and financial institutions are looking into tokenizing assets as a means of making them more accessible to users and investors.

Popular NFT marketplace and protocol Rarible launched its NFT marketplace builder for Polygon-based NFT collections on January 18. Any Polygon-based NFT collection will be able to use the new self-serve tool to build their own customized marketplaces for free to connect with their communities.

FanTiger has launched its debut music NFT with renowned Punjabi singer and actress Sunanda Sharma on its official website. FanTiger claims to be India’s first dedicated music NFT marketplace. With this launch, Sunanda Sharma has become the first female Punjabi singer to enter the NFT space.

NFTs are blockchain-based assets which represent ownership of digital files such as images and text.

LooksRare platform that has quickly become the leading NFT marketplace by trading volume shows that most of the activity is actually users selling tokens to themselves to help earn rewards in the form of more coins. The platform was launched in January by two anonymous co-founders — who go by Zodd and Guts — as an alternative to market leader OpenSea during the height of the NFT boom. The site had planned to add new features to lure NFT enthusiasts, according to a blog post at the time. Almost all of those initiatives have focused on the incentive program built around the Looks token awarded to active users of the platform. About $18 billion of the trading volume on the platform, or about 95% of the total activity, can be attributed to what’s often referred to as wash sales, according to data compiled by NFT tracker CryptoSlam. The transactions are seen as one of the many gray areas in crypto when it comes to regulation. In this case, the sales are done to win new tokens rather than to pump up nonfungible token prices to lure unsuspecting buyers. The marketplace benefits from the fees generated by each transaction.

Mumbai: After Bollywood stars and sports celebrities, India’s top fashion designers are now looking at non-fungible tokens (NFTs) as a credible source of income for their digital fashion collections. Designers including Manish Malhotra, Raghavendra Rathore, Anamika Khanna and Pankaj & Nidhi have already embraced blockchain technology in order to connect with more tech-savvy audiences. Most of them have seen their initial drops of digital artwork sell in minutes on NFT marketplaces. «Fashion NFTs have received great traction on our platform and in general as well. We are hoping to introduce new-age street brands in fashion onto the NFT bandwagon as these would be a perfect fit with the young NFT community,» said Vishakha Singh, vice president, WazirX NFT Marketplace.

Jupiter Meta is all set to launch its NFT marketplace on February 23, 2021. It will be India’s first fully curated NFT marketplace. This marketplace will focus on verticals such as music, film, and gaming, creating singular experiences for each user and enabling everyone to maximize their time in the metaverse. Jupiter Meta is aiming to tap the growing Web 3.0 space, it said, adding that it looks to bring people into a more involved and personalized feel to their metaverse interactions.

Legion Network to launch a new LGX token on the Binance Smart Chain (BSC) on February 17. The new blockchain aims to bring tokens, NFTs, P2E games and metaverse together in a single super application. The IDO will be occurring on the new Sekuritance Portal. ‍An initial DEX offering or IDO refers to the launching of a cryptocurrency on a decentralized exchange (DEX). In an IDO, a blockchain project makes a coin's first public debut on a DEX in order to raise funding from retail investors.

NFTs) as an asset class have exploded on to the scene in 2021 and gripped investors the world over with prospects, transcending beyond the realms of mere tokenism by unlocking far more value for all stakeholders involved. For artists, NFTs offer the promise of price discovery that does not exist beyond the few renowned auction houses functioning today, while investors can cash in on their purchased NFTs anytime they deem fit.