NFT & Brands – it was meant to be
NFTs -a term unheard of by most only a year a go- grew to the level where leading brands from different industries decided to introduce their unique NFT collections.
Some of these brands are – Burger King, Nike, Louis Vuitton, AMC Stubs, Clinique, and Glenfiddich.
I am sharing here some insights regarding NFTs and Brands. It will focus on offering some tips and ideas. Meanwhile, it will also establish the value NFT brings to the table for almost any brand.
NFT Projects From Brands
1. AMC Stubs With Spider-Man: No Way Home
AMC and Sony’s partnership led to the release of around 86,000 NFTs offered for free to the loyal members. These NFTs were available for people who subscribed to Stubs Premier and other A-List Programs.
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It’s harder to be priced out of owning NFTs.
This is still experimental but you can learn more about fractional NFT ownership at the following exchanges:
In theory, this would unlock the possibility to do things like own a piece of a Picasso. You would become a shareholder in a Picasso NFT, meaning you would have a say in things like revenue sharing. It’s very likely that one day soon owning a fraction of an NFT will enter you into a decentralised autonomous organisation (DAO) for managing that asset.
These are Ethereum-powered organisations that allow strangers, like global shareholders of an asset, to coordinate securely without necessarily having to trust the other people.
That’s because not a single penny can be spent without group approval.
As we mentioned, this is an emerging space.
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Most exchanges charge at least a percentage of your transaction when you buy crypto.
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Popular NFT Marketplaces
Once you’ve got your wallet set up and funded, there’s no shortage of NFT sites to shop. Currently, the largest NFT marketplaces are:
• OpenSea.io: This peer-to-peer platform bills itself a purveyor of “rare digital items and collectibles.” To get started, all you need to do is create an account to browse NFT collections.
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However there are other standards that you might want to look into. The ERC-1155 standard allows for semi-fungible tokens which is particularly useful in the realm of gaming. And more recently, EIP-2309 has been proposed to make minting NFTs a lot more efficient.
This standard lets you mint as many as you like in one transaction!
- Crypto art data – Richard Chen, updated automatically
- OpenSea: the NFT Bible – Devin Fizner, January 10 2020
- A beginner’s guide to NFTs – Linda Xie, January 2020
- Everything you need to know about the metaverse – Foundation team, foundation.app
- No, CryptoArtists Aren’t Harming the Planet
- A country’s worth of power, no more – Carl Beekhuizen, May 18 2021
Footnotes and sources
This explains how we arrived at our energy estimates above.
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On the other hand, a custodial wallet gives another party (usually a web-based exchange) control of your private keys. Some of the most popular non-custodian wallets are Metamask, Ledger Nano X, Trezor One.Off-chain metadataMetadata that is stored outside the blockchain.On-chain metadataMetadata that is directly incorporated in a smart contract.Open editionsAn NFT for which any number of editions may be minted, which is the opposite of a limited edition NFT (e.g. a collection with only 10,000 editions).OracleAn oracle is a code that provides smart contracts with external data by serving as a bridge between blockchains and information that resides on outside networks.OSShort for OpenSea, the leading NFT marketplace on Ethereum.Play to Earn (P2E)Blockchain-based games that incentivize players with tradable tokens and in-game asset rewards.Paper handsThe opposite of ‘diamond hands’.
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If Ethereum did more or less transactions from one minute to the next, the energy output would stay the same.
It’s also important to remember that Ethereum does more than just financial transactions, it’s a platform for applications, so a fairer comparison might be to many companies/industries including Visa, AWS and more!
The process has already started. The Beacon Chain, the first upgrade, shipped in December 2020. This provides the foundation for staking by allowing stakers to join the system.
The next step relevant to energy efficiency is to merge the current chain, the one secured by miners, into the Beacon Chain where mining isn’t needed. Timelines can’t be exact at this stage, but it’s estimated that this will happen sometime in 2022. This process is known as The Merge (formerly referred to as the docking).
Now they united their efforts for the most important goal: creating an NFT ecosystem that will help change people’s lives for the best and improve the conditions of those who are suffering from the consequences of war.
The Zelenskiy NFT collection was created to laud the heroism and solidarity of the Ukrainian people and President Zelenskiy as their national leader in the face of war. The project aims to bring global support to the humanitarian cause and give people around the world a meaningful way to help Ukraine. The collection consists of 10 000 unique procedurally generated artworks, and each of them represents President Zelenskiy in various styles and images, celebrating the diversity and unity of the Ukrainian nation.
The Zelenskiy NFT is built with the idea of *ChariFi at its core and is the first project of its kind.
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You will be amazed.
Average price: 0.08 ETH
Twitter Account: @ReflectiveCLTV
Discord: Reflective Collective
19. Inglorious Orcs Brawl Party
The team of Inglorious Orcs Brawl Party has not announced its release yet. It is a mesmerizing platform for NFTs and comprises a collection of 10,000 hand-drawn NFTs.
The host of this NFT is the Ethereum blockchain.
NFTs are currently taking the digital art and collectibles world by storm. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience. And celebrities are joining in as they spot a new opportunity to connect with fans.
But digital art is only one way to use NFTs. Really they can be used to represent ownership of any unique asset, like a deed for an item in the digital or physical realm.
If Andy Warhol had been born in the late 90s, he probably would have minted Campbell’s Soup as an NFT. It’s only a matter of time before Kanye puts a run of Yeezys on Ethereum. And one day owning your car might be proved with an NFT.
What’s an NFT?
NFTs are tokens that we can use to represent ownership of unique items.
They let us tokenise things like art, collectibles, even real estate.
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Of those, 87 897 validators are assumed to be staking from home.
It is assumed the average person staking from home uses a 100 watt desktop personal computer setup to run an average of 5.4 validator clients.
The 87 897 validators running from home gives us 16 300 users consuming ~1.64 megawatt of energy.
The rest of the validators are run by custodial stakers such as exchanges and staking services. It can be assumed that they use 100w per 5.5 validators. This is a gross overestimation to be on the safe side.
In total, Ethereum on proof-of-stake therefore consumes something on the order of 2.62 megawatt, which is about the same as a small American town.
This is a reduction of at least 99.95% in total energy usage from the Digiconomist estimate of 44.94 TWh per year that the Ethereum miners currently consume.
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It’s used in excitement about new project launches, huge NFT news and other massively positive updates.Looks rareRarity is relatively important in NFT collections. But when others say something like “ok, looks rare”, it’s being used ironically — they actually mean “it doesn’t look rare”.Sh*tposterSomeone who mostly posts meme content on Twitter for thrills.Simp / SimpingAn enthusiast who comes off as trying too hard impress someone.SnagIt means to buy an NFT quickly and for a very low price. Can also be known as sniping.McDonald’sA funny reference to “McDonald’s” as the backup career plan in case the GMI scenario doesn’t come to fruition.MeatspaceSame meaning as IRL.
Similarly, if something is “mooning”, that means the price of a coin or NFT is experiencing a spike.
Short for “not financial advice”, it’s used the same way as DYOR. The term acts as a disclaimer to an opinion or projection for an NFT that may not be coming from someone in a position to provide financial advice.
Short for OpenSea, which is one of the most popular NFT marketplaces globally at the moment.
P2E stands for play-to-earn games. These are blockchain-based games that use tokens or NFTs to reward players, such as Axie.
Most often used in Malaysian NFT communities, Pentas refers to the Malaysian-made NFT marketplace, Pentas.io, which has gained significant traction since its launch in 2021.