Scanning your dog and going for a walk in the metaverse: Virtual NFT pets are becoming increasingly popular

If you’ve ever had a Tamagotchi or enjoyed playing Nintendogs, you’ll probably enjoy this story. According to new research, during the peak of COVID-19, the number of people looking for a furry friend to keep them company reached new highs – not only physically, but also in the metaverse. The question is whether tokenized pets are here to stay or if they are a passing fad. The metaverse is widely viewed as the internet’s next incarnation as a virtual environment, or Web3, made possible via virtual and augmented reality. In the metaverse, there are several ways to buy or adopt a pet, each with its own set of benefits. You can buy a puppy and take it for a walk in the virtual open-world platform Decentraland, or you can buy a fish and keep it in a bowl on your dresser. Another approach to obtain a pet in the metaverse is to purchase an image of a nonfungible token (NFT) on a marketplace such as OpenSea. These instances have one thing in common: they both live only in the digital realm. If you buy an Axie on Axie Infinity, it does not exist in the real world. However, there are projects gaining traction that try to combine the digital and physical worlds. ClassicDoge, for example, launched in November 2021 and allows you to scan and tokenize a 3D model of your pet in the physical world before bringing them into the metaverse with you. Your real pet made into a 3D NFT Avatar. Bridging the real world with the virtual.#classicdoge #furever #xdoge #petaverse #VirtualReality #metaverse pic.twitter.com/oq86cRG9uB — ClassicDoge (XDOGE) Official (@TheClassicDoge) January 1, 2022 Saylor Howell, ClassicDoge’s head of growth and partnerships, said that while the pandemic may have sparked interest in pet NFTs, they were an unavoidable development of…

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SolChicks, a Solana NFT platform, is backed by… 113 venture capital funds

SolChicks, a Solana-based play-to-earn fantasy game, has made headlines after it was revealed that 113 different venture capital funds have invested in the project. Is the new Solana game doomed by VC? On Wednesday, a new play-to-earn fantasy game launched on Solana caused a stir in the crypto community, raising concerns about the sustainability of DeFi’s current fundraising model. SolChicks has received a lot of attention due to the fact that it is backed by over 100 different venture capital funds—113 to be exact. The project’s official website lists some well-known names as partners, including Gate.io, but the vast majority are obscure funds focused on small-cap DeFi projects. SolChicks stated in a press release issued following its successful IDO that it had raised more than $20 million from more than 300 private investors. The IDO for the game will take place on 38 launchpads at a public price of $0.05 per token, implying a fully diluted market capitalization of $500 million. The success of SolChicks’ IDO prompted some members of the crypto community to become more involved in the game’s development. Many questioned the project’s legitimacy because over 100 VC funds invested in it, with many claiming that it was only a matter of time before they all dumped $CHICKS on the market. So who’s gonna provide liquidity for all the good people behind those shiny logos ? Any volunteer ? 🤔 https://t.co/xjXyeVtD8O— Cherry 🌸 (@cherry_cbl) December 1, 2021 According to one trader, this isn’t just a wild guess—one of SolChicks’ founders was reportedly involved in a number of other similarly ambitious projects that failed spectacularly just months after launch. The $CHICKS token will have its IDO on December 2nd across 38 launchpads, followed by a token generation event (TGE) and public exchange listing on December 6th. We’ll have to…

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Social Trading Is a Popular Emerging Trend in the Crypto Market

What online multiplayer is for gaming is the social component to trading. It provides a next-generation layer for cryptocurrency traders to have dynamic and natural market adventures. Many crypto trends, such as non-fungible tokens, are rooted in socialization (NFTs). It has now made its way into cryptocurrency trading. It provides crypto traders with interconnectivity while trading, breaking down the barriers that prevent them from having fun and less fearful experiences. Cryptocurrency platforms have a reputation for lacking social features that meet user demands and expectations. Because of the overabundance of technical crypto trading features, exchanges have failed to notice how it negatively affects the end-user. Social trading places users in a friendlier environment and allows them to lend a helping hand in the market. Due to the lack of a systemized method of introducing them to the markets, most people have approached crypto as a one-man army. These platforms disrupt this phenomenon by allowing traders to enter with ease and a variety of options. Explanation of social trading Social trading is a type of investing that allows traders to learn about other people’s market decisions. They essentially allow traders to mimic or copy the trading strategies of others. As a result, they are not solely reliant on their actions to generate revenue. eToro was the first to provide bitcoin traders with a socialized trading experience. Meanwhile, KuCoin has set a precedent by becoming the first major cryptocurrency exchange to launch a social trading platform for the cryptocurrency markets. They accomplished this by incorporating KuCoin S into their platform. It is a section of their app that reintroduces trading to the crypto world by incorporating social features like copy trading, sharing your trades, access to real-time crypto news, and interacting with like-minded communities. So, how does this “socialization” benefit traders? What…

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The popularity of Baby NFT copycat collections is growing

We’ve seen a flurry of copycat baby NFT collections of some of our favorite blue-chip projects, from Lil Baby Ape Club to Lil Baby Cool Cats. These clones have gained popularity in the last week, with Lil Baby Ape Club reaching a current floor price of 0.23 ETH. Concerning the CopyCat Baby NFT Collections These collections have no ties to the original collections. To their credit, they do state this in their Twitter bio. However, for outsiders looking in, these projects may be detrimental to the original projects. Consider the possibility that one of these baby NFT collections is involved in a scam, a rug pull, or some other form of discrimination (which has been discovered). This could be detrimental to the blue-chip project whose name appears in the titles of these collections. Because the artwork is identical. From the outside, it appears to be something done by one of the blue-chip projects, such as Bored Apes or Cool Cats, despite no involvement at all. To clear up any confusion, the official link to Bored Ape Yacht Club’s Twitter is here. And the Cool Cats are here. Are There Any Advantages? The hype right now is enormous; it’s never been higher, but why? Is it just that people don’t care about copying? The price for what you’re getting is probably the only argument that can be made. ‘Why spend 30-40 ETH on a BAYC that is out of reach when I can get a baby version for 0.2?’ is probably what many people are thinking when ‘aping’ into these projects. The rising value of blue-chip NFTs could contribute to this. With prices that are way out of most people’s budgets. Users are looking for ways to get in on the ground floor of a fantastic community. They may believe that…

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NFT Virtual Land Platform Prices Increase 42,000% in One Month

Plots of virtual land are being sold at exorbitant prices; some Next Earth NFTs in Vatican City have increased by up to 42,000 percent in a single month. These are not works of art, rare wines, or antiques; they are digital real estate on a blockchain. A tile (or a hundred square meter plot) in Vatican City sells for more than 42 BUSD in Next Earth, while Monaco sells for more than 14 BUSD per tile and Macao sells for around 4 BUSD per tile. Surprisingly, the famous Arc de Triomphe was purchased for around 100 BUSD and re-sold for 3,400 BUSD on the first day of the Next Earth NFT marketplace’s launch. But what does this massive increase in value mean for users looking to invest in virtual real estate? What role does scarcity play in driving up prices, and how can buyers tell if an investment opportunity is sustainable? The answer can be traced back to a fundamental concept in economics 101: supply and demand. People are willing to pay high prices for virtual real estate, creating what appears to be an opportunity for early adopters who understand where the demand is. The Metaverse’s Supply and Demand Virtual land is currently in short supply, while demand is skyrocketing. Neal Stephenson coined the term “metaverse” in his 1992 sci-fi novel Snow Crash. It refers to a virtual existence that exists apart from the physical world. Other examples include Second Life and Minecraft, both of which are owned by video game companies. There are numerous other metaverses in the works. When NFTs become mainstream, users will be able to truly own pieces of metaverses, increasing demand for virtual land even further. Because these metaverses have yet to gain popularity outside of tech circles, there haven’t been many options for ordinary…

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The Million Dollar Token Page Allows You to Display Your NFTs

Do you need a place to show off your new NFTs? Don’t say anything else. Million Dollar Token Page is the first Web3 platform that allows brands and artists to showcase their digital assets – and it has the potential to change the game. What is the Million Dollar Token Page all about? It is, in essence, exactly what it sounds like: a platform where people can buy their own virtual block to share digital assets. The website contains 10,000 Blocks, each of which will be filled with an NFT on the Ethereum network. The most exciting aspect is that anyone can purchase a block and brag about their latest NFTs. What kind of person would want that? As a result, everyone who visits the Million Dollar Token Page (MDTP) will see your NFT. As a result, you will have more opportunities to trade non-fungible tokens for a higher price. Furthermore, the value of your block will rise in proportion to the number of people who view it. Plans, rules, and prices for the future According to reports, the MDTP team has big plans for the future. They want to build a dedicated community that will also contribute to the platform’s growth. Surprisingly, members will have the ability to change the platform’s rules, future release dates, and even set new prices for future releases. However, for the time being, MDTP will only launch 1,000 NFTs (representing blocks) at a time. The current price is set at 0.01 ETH per NFT by the team. However, the platform has a few ground rules. To ensure that every collector gets their own block, a buyer can only purchase up to 35 NFT blocks.

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