There’s widespread public confusion around much of what the crypto industry does and is hoping to achieve, but it’s likely there’s no facet of the space that has attracted as much negative attention a
s nonfungible tokens. From environmental concerns about the tokens’ carbon footprint to the “you don’t really own anything” disdain of so-called “right clickers,” the NFT truly seems to be a love-it-or-hate-it product.
Convincing the doubters that NFTs are more than just status symbols or high-risk, high-adrenaline investments will take a blend of education and a commitment to tap into the technology’s demonstrable utility. Below, seven members ofMany NFT collectibles are not providing any utility beyond collectibility and are making money based on speculation.
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Bitcoin-Based NFTs Cross 200,000 Ordinal Inscriptions, Yuga Labs Launches Twelvefold Collection – Bitcoin NewsIt took approximately 72 days to reach the 200,000 range, as the first Bitcoin Ordinal inscription was minted on Dec. 16, 2022.
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Redeem Raises $2.5M to Let Users Receive NFTs Via Phone NumbersWeb3 infrastructure startup Redeem has raised $2.5 million in funding ahead of its launch of a product that allows users to send and redeem NFTs using their phone numbers. BrandyBetz reports
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The Next Bicasso: Binance NFT Releases AI-Powered NFT GeneratorBinance releases “Bicasso,” a tool that allows users to create AI-generated NFTs minted on BNB chain. camgthompson reports:
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Meet Chase2Earn: A Blockchain Racing Game w/NFTs and Special Features | HackerNoonChase2Earn is an innovative blockchain game that allows players to purchase, upgrade and race with Non-Fungible Token (NFT) cars. - blockchaingaming gamingmetaverse
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First Mover Asia: NFTs Have a ‘Digital First Sale’ ProblemGood morning Asia, here's what's making news today: 1. Copyright law related addressing digital-first sales has not caught up to blockchain. 2. Short interest rises on China tokens. TheSamReynolds reports
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Redeem raises $2.5 million to transfer NFTs over text messageConnectivity layer Redeem raised $2.5 million from investors including Kenetic to enable individuals to participate in web3 using just their phone numbers.
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