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Blockchain News NFT

How is the World’s Best Talent Entering Web3?

With a technological revolution spearheaded by blockchain technology, everyone wants to be first in the world of Web3! The best talent worldwide is entering the Web3 space, but not everyone is doing it right.

For that reason, we have put together a list of notable executives and celebrities who have shifted to Web3 and are doing excellent work. Let’s dive in!

  1. With the GODA Mint Pass, you will surely be Happy!

Gallery of Digital Artists, or GODA for short, helps traditional artists explore the digital art space using NFTs whilst staying authentic and genuine to their creative voices. A team of veterans launched GODA, including 13-time Grammy winner Pharrell Williams, KAWS and big-shot investor Shaun Neff. 

With the GODA Mint Pass, you will get access to the best NFT market drops, such as Nina’s Super Cool World.

  1. If there is one celebrity who is doing Web3 right, it is John Legend!

The ultra-popular singer John Legend is the co-founder and Chief Impact Officer of OurSong, a music platform designed to empower music creators and help them connect directly with their audiences. For example, Our Song integrates chat rooms and private clubs where musicians can “vibe” with their audiences.

Regardless of their number of followers, musicians will have complete control over the NFT soundtracks they create on OurSong, which are called ‘Vibes’. Working in collaboration with Circle, Vibes can be purchased using their native token, OurSong Dollar. In April 2022, the company raised a seed fund of $7.5 million with Animoca Brands and Circle Ventures

  1. NFTs do not only consume degens, but they also consumed Paris Hilton!

After one year of hard work, Paris Hilton launched a series of NFTs narrating her personal, abusive experiences of the past 20 years. The NFT collection titled Past Lives, New Beginnings, expressed her past pains and gave her the courage to begin the next chapter of her life. While most see NFTs as a quick cash grab, Paris Hilton used NFTs for self-empowerment and to encourage fellow women to speak up against personal abuse.

Image Source: Paris Hilton’s Website

Paris is also an investor and advisor on Origin Story, which aims to make it more affordable and accessible for creators to sell their NFTs using Origin’s customizable solution.

  1. Ryan Wyatt left YouTube to join Polygon Studios

Not only celebrities but business executives from Silicon Valley are also shifting to Web3!

Ryan Wyatt, who served as the head of gaming at YouTube, is now serving as the chief executive of Polygon Studios. After working for 8 years at YouTube, Wyatt wants to help “bridge the gap between Web2 and Web3” with Polygon.

  1. Unstoppable global adoption with Unstoppable Domains!

In December 2021, Sandy Carter left her position as vice president of Amazon Web Services to join Unstoppable Domains as Senior Vice President of Business Development. Sandy sees blockchain as the future of technology and believes “that Unstoppable Domains is building the tools to accelerate global adoption.”Sandy has been named among the Top Most Powerful Women in Tech in CNN and Fortune and has worked in senior positions at companies like IBM and AWS. Read her impressive background here!

Categories
Blockchain News NFT

Celebrity NFTs: Good or Bad?

On July 1st 2022, the uber-famous singer Chris Brown launched a set of 10,000 NFTs. After a week, only 297 pieces were sold out of 10,000. What went wrong that Chris Brown, who holds cult celebrity status among the younger music fans and a massive social media following, could not sell even 3% of his NFT project?

The answer is simple: Celebrity NFT projects fail to understand their consumers. Most celebrities think of NFTs as a way to make a few million dollars without putting in much effort and then get off the project. One notable example was when Lil Uzi pumped Eternal Beings by tweeting about it and deleted his Twitter promotional posts after the launch. 

Web2 followers do not translate to Web3 sales! Most celebrities do not have any real conviction for the NFT project they are promoting and most of the time, do not even interact with their NFT holders. Unfortunately, just putting out a few tweets by a celebrity does not translate to a successful project in the NFT space! Celebrities must convey conviction and authenticity for the project they are shilling. 

The second mistake most celebrity NFT projects make is overpricing their NFTs. For example, a collection named Roborovski was launched by celebrities Dev Patel and Tilda Cobham-Hervey in February 2022. Although these two never showed up to any AMAs or interacted with the project, it was still launched for an extremely high price of 0.165 ETH (or $450 at that time). As expected, the project could not mint their 10,000 supply and had to cut it to 7,777. Due to a lack of demand, Roborovski’s price took a tumble on the secondary market and proved to be a major flop.

However, it must be remembered that there are always exceptions to every rule, and the NFT space is no exception! GaryVee and Snoop Dogg are the most notable aspiring celebrities in the NFT space, and other stars should learn from these examples. These celebrities are not only passionate about NFTs, but they also understand the Web3 culture and values. People listen and even follow their opinions if they decide to shill a specific project!

All in all, success in Web2 does not guarantee success in Web3. Web3 is a different market with different consumer values and ethos, and celebrity projects must respect those values and tailor their messages accordingly. Otherwise, we will continue to see failed celebrity NFT projects in the future, which is not very healthy for the NFT world.

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Bluechip NFT Projects News NFT

Identifying Blue Chip NFT Projects

In the stock market, a blue-chip stock was something that had a consistent history of performance. For example, Amazon or Microsoft shares would continue to profit its investors long-term. The same can be said for NFTs! 

Blue-chip NFT projects perform consistently and reap excellent returns for their investors. Some prominent examples of blue-chip NFT projects are Doodles, VeeFriends, BAYC and CryptoPunks. 

The big question is: How do you find these projects? Let’s look at all the features of a blue-chip NFT in detail below:

Word of Caution: Please never look for blue-chip projects in the ‘Rankings’ section of OpenSea!

  1. PRICE HISTORY

First and foremost, a project’s price chart needs to be in a consistent uptrend, as illustrated from the Doodles price chart below.

Moreover, to establish a strong history of consistency, the NFT project needs to survive a bear market. Regardless of market conditions, blue-chip NFT projects will hold their price or not fall too much in bear markets.

  1. POWERFUL BRANDS 

NFT Blue chip projects will have a strong brand identity. Cool Cats, for example, has created a strong brand identity of active ownership and inclusivity for its holders. They frequently do airdrops, commit to returning 20% of all ETH raised to their holders and even value their opinion on the development of their gamified ecosystem.

Powerful brands will keep their messaging relevant to a specific audience rather than jumping on various bandwagons for traction. They will also consistently deliver on their promises to their holders.

  1. STRONG TRIBES, NOT STRONG COMMUNITIES

Each NFT project you join will tell you they are building a solid community. Blue-chip projects have strong tribes, not strong communities!

The significant difference between a community and a tribe is the group’s commitment to the project values and willingness to work towards that goal. NFT tribes not only hold an NFT for financial gains but are also aligned with the project’s long-term plan and become active participants in the vision of the NFT.

It must also be noted that a tribe takes time to build, which is why NFT projects achieve blue-chip status over time.

Most of the above characteristics will develop over time and cannot be found on the project’s launch date; hence, finding a blue-chip project at launch is mostly a stroke of luck. You might see NFT teams and communities that look promising but cannot survive the long game. For a project to be considered blue-chip, it must consistently rank highly on all the above features.

Good luck picking the next potential blue-chip!

Categories
Blockchain Ethereum News NFT

Best NFT Marketplaces for Trading on Ethereum

Picking the right marketplace for your NFT could multiply your portfolio or divide it. With the increasing popularity of NFTs, traders have a lot of choices for NFT marketplaces. 

So, the question is how do you pick the best NFT marketplace? In this article, we will compare the best decentralized NFT marketplaces on Ethereum and give our verdict on the best NFT marketplace on Ethereum.

1. OPENSEA: 

Founded in December 2017 by Devin Finzer and Alex Atallah, OpenSea is the largest NFT marketplace on Ethereum, as it currently has a daily trading volume of about $14.5 million. OpenSea charges a 2.5% platform fee on all sales on its platform, which is the highest platform fee of all NFT marketplaces.

OpenSea has some great features which improve your trading experience. It has a rankings page, which ranks collections based on analytics like trading volume and floor price. 

Since it is the biggest NFT marketplace, your chances of getting a good deal for your NFT on OpenSea are the highest!

2. LOOKSRARE:

LooksRare was founded in January 2022 by two anonymous co-founders Zodd and Guts. It is the second largest NFT marketplace on Ethereum, with a daily trading volume of about $9 million. LooksRare charges a 2% platform fee on all sales. 

LooksRare provides similar features to that of OpenSea, like having a collections page that lists top NFT projects’ analytics. Unlike OpenSea, it does not let you select different collection categories. However, LooksRare introduced a bulk listing feature in April 2022, allowing you to list multiple NFTs with little effort needed. They also reward their users who trade any NFTs on their platform with their utility token called LOOKS.

Pro Tip: You can also stake the LOOKS token for a 52% annual yield.

3. X2Y2

X2Y2 was founded in February 2022, with a daily trading volume of about $1.5 million. X2Y2 charges a platform fee of just 0.5% on all platform sales, much lower than OpenSea and LooksRare. If you already have a buyer lined up, exchanging on X2Y2 seems reasonable.

X2Y2 also has a rankings page where you can look at trending collections on the basis of trading volume, sales and average price. Like OpenSea and LooksRare, you can also make a collection offer.

But what separates X2Y2 from other marketplaces on Ethereum is its integrated rarity ranking for NFT collections. This feature lets you snipe any undervalued rare items very easily. X2Y2 also offers bulk listing and instant push notifications for sales. 

Out of these three marketplaces, X2Y2 is the most feature-rich and low-cost platform, especially if you are a frequent trader. But if you don’t mind the higher fees, OpenSea is the best platform for trading NFTs with its high trading volume and notable drops page keeping you up to date on new collections.