CryptoPunk to be split into pieces: Nifty Newsletter, Aug 3–9
In this week’s newsletter, read about Ethereum co-founder Vitalik Buterin’s proposal for stealth nonfungible token (NFT) ownership. Check out how a CryptoPunk will be split into thousands of pieces to enable smaller investors to access it, and how the NFT play-to-earn game Axie Infinity plans to double down on South Korea despite regulatory hurdles. In other news, learn about how NFT storage works according to two NFT experts. Lastly, check out how a Redditor turned criticisms of the NFT space into NFTs.
Vitalik Buterin, co-founder of Ethereum, proposed what he dubs a “low-tech approach” to adding privacy to NFT transactions. According to Buterin, smart contract wallets can add a method that allows senders to mask their addresses to third parties.
In a tweet, Buterin wrote that, for example, one can send an NFT to an address like vitalik.eth without anyone except the new owner being able to see where the NFT was sent. However, with this method, senders need to have enough Ether (ETH) to pay five to 50 times in fees.
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With NFTs becoming more expensive, fractionalization is becoming a solution that lets smaller investors have a share of popular NFTs like CryptoPunks. Through a new campaign, a Punk’s ownership will be in 56,000 wallet addresses that signed up to get a share.
This effort gives NFT users a chance to participate in an NFT collection that was once out of their reach but has now become more affordable through fractionalization. The campaign is facilitated by Unique Network, an NFT infrastructure built on top of Kusama and Polkadot.
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Jeffrey Zirlin, co-founder of Sky Mavis — the company behind the NFT play-to-earn game Axie Infinity — spoke to Cointelegraph at the Korea Blockchain
Read more on cointelegraph.com
