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Are NFTs dead? Not at Art Dubai

TokenTalk Staff

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Are NFTs dead?  Not at Art Dubai

Non-fungible tokens (NFTs) may have fizzled around the world after an initial boom – NFT sales volume fell 83% in 2022, according to NFT sector tracker NonFungible – but in Dubai the market is flourishing. Most of the 24 exhibitors participating in Art Dubai Digital this year, the only section of its kind at a major art fair, will showcase NFTs and other “cutting-edge trends in digital art,” from artificial intelligence to extended reality, through installations immersive and robotic art, say the section’s curators, Auronda Scalera and Alfredo Cramerotti.

“Art Dubai Digital is the only enduring fair-based digital art platform,” says Anna Seaman, curator at Morrow Collective, which describes itself as a “blockchain fine art curatorship” based in Dubai. “It was founded in 2022 at the height of the so-called NFT boom, but has been dedicated to supporting digital art, inside and outside [the block]chain and has become a global benchmark for the establishment of digital art as an important sector of the art space.”

The company is participating in Art Dubai Digital for the third time, showcasing work from artists who engaged with blockchain as early as 2013. Featured artists include Jonathan Monaghan, whose work Mothership was the first piece minted in the beta version of Ascribe, a protocol now defunct that was built on the Bitcoin chain.

“We also have a metaverse museum that will take viewers through the history of [past] decade and exhibit new work by artists who were fundamental at that time,” says Seaman. “All works will be available for collection, but prices are still under discussion due to volatility in crypto markets.” Most of the works will be sold as NFTs, she adds. “NFTs are a medium, a technology that allows digital art to be traded transparently and on-chain. There is certainly a market for digital art to be bought and sold in this way.”

Not surprisingly, Seaman is keeping faith in NFTs after they fell out of favor following a boom in 2021 and “everyone was saying NFTs were dead.” “What really happened was people started to differentiate between content and NFTs,” she says. “An NFT is just a code that gives authenticity to a digital file and records it on the digital ledger of a blockchain. It’s the content that has value, not the technology.”

Other participants at the fair include TAEX, a London-based digital art platform presenting a new series of interactive websites from internet artist Angelo Plessas. “We are displaying 12 interactive websites as NFTs: three original websites and nine variations,” says Stefanie De Regel, head of development at TAEX. “Each site is a unique window into Angelo’s world, filled with symbolism and sacred characters, which animate and play music with every click.”

De Regel explains that “blockchain is global, meaning the market for NFTs is everywhere [local law permitting]. His Highness Sheikh Mohammed bin Rashid Al Maktoum [the ruler of Dubai]The UAE government and people understood the potential of blockchain very quickly and very early, and have been promoting the growth of web3, including NFTs in the Middle East.”

Curators Scalera and Cramerotti state that “there is a notable collector base of digital art in the region, demonstrating a great appreciation for this dynamic form… [there is] an established technology hub made up of thousands of technology start-ups, programs and services and also an ‘organic pipeline’ of digital art talent and professionals who have moved to the region to produce and sell and establish their career.”

37xDubai, a first-time participant at the fair, is taking advantage of the city’s technological wave. The gallery, opened last October, is part of Morningstar Ventures, an investment company specializing in digital assets. “37xDubai was created to become the creative and digital art arm of Morningstar,” says Clémence Cazeau, director of 37xDubai, who adds that “Dubai is a place that embraces innovation, with a young, technology-savvy population.” 37xDubai displays digital and physical works by Ivona Tau and Marcel Schwittlick (prices available upon request). “Digital works of art are directly linked to the blockchain and are therefore considered NFTs,” adds Cazeau.

Art Dubai will be an opportunity to take the temperature of the volatile NFT market. “It has become a territory for experiments in quality rather than quantity. Many platforms are taking advantage of the crypto winter [a downturn in the value of crypto currencies] to build a meaningful digital marketplace and fully explore the possibilities, whether with blockchain, AI or immersive technologies,” says TAEX’s De Regel.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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NFTs

Konami and Avalanche unveil Resella NFT platform.

TokenTalk Staff

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Fantasy Top Rebounds Above $1 Million to Lead Daily NFT Sales

Konami Digital Entertainment has joined forces with the Avalanche blockchain to launch Resella, a new platform that aims to streamline non-fungible token (NFT) operations.

Launched Thursday, this collaboration aims to improve Web3 services and expand the reach of blockchain technology to a wider audience.

Resella, which facilitates transactions in Japanese yen, is initially focused on the Japanese market, with the vision of extending its services across the world, simplifying entry into blockchain for newcomers.

The partnership leverages Avalanche’s Subnet technology and Ava Labs’ AvaCloud service to ensure efficient and free operations to position Resella as a competitive NFT marketplace.

Konami, a leading company in the gaming industry with popular titles like Metal Gear and Silent Hill, is taking a step towards merging traditional gaming with the Web3 space.

Resella aims to transform existing platforms and create new social interactions, such as using game-based NFTs to access events or unlock special content.

While the gaming industry is increasingly adopting Web3 technologies, with initiatives like Ronin’s new infrastructure, some companies, like GameStop, have backed away from NFT projects.

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What is grass AI? The data layer of AI

TokenTalk Staff

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What is grass AI?  The data layer of AI

What is grass?

Developed as the first product of Wynd LaboratoriesGrass aims to democratize and decentralize Internet resources and ensure fair compensation for everyone.

Through its Chrome extension and mobile app, Grass offers a decentralized residential proxy marketplace, allowing users to leverage their unused bandwidth to gain a share of the web scraping needed to build AI, creating a more robust Internet ecosystem. equitable.

Grass is also developing proprietary datasets and AI models that contribute to the decentralization of AI as a whole, with the goal of making the vast knowledge of the Internet open source and accessible.

Furthermore, Grass aims to play a direct role in analyzing unstructured web data into a format that large language models (LLMs) can train from, making this data accessible through APIs and transforming the Internet into an open source of knowledge. accessible and structured. base.

Grass’ ultimate goal is to become the foundational layer for the decentralization of AI, contributing to the creation of a global, open-source repository of human knowledge.

Source: Grama

How does grass work?

Available through a Chrome extension or mobile app, Grass collects your unused bandwidth and uses it to help power the web scraping needed to AI develop, train and improve.

Crucially, it does this by only leveraging bandwidth you’re not using, meaning you’ll not only be rewarded for being part of the AI ​​ecosystem, but you won’t experience slowdowns in the apps and services you use.

By using Grass, users earn Grass Points. They can be converted into network property, which can then be sold to verified companies for uses such as web scraping and market research using cryptocurrency as a means. Additional payment methods are being explored, such as fiat options via PayPal, gift cards, and the ability to participate in network governance.

Grass takes a firm stance on safety. The app collects basic information such as uptime, IP address connections, sign-up emails, and passwords, but does not access any personal information on users’ devices.

As an example of their scraping prowess and the sheer power of shared bandwidth thus far, the Grass team wiped out the entire blog hosting site Medium in the space of two days, totaling tens of millions of articles and a word count that probably be in the tens of billions.

Source: Grama

What has Grass achieved so far?

Grass entered beta in June 2023 as a Chrome extension and launched a referral program to reward early adopters with additional Grass points.

The Grass Mobile app launched in August 2023, allowing users to earn Grass Points 24/7 – as long as they are connected to WiFi or 4G/5G services.

Rapid growth followed, reaching tens of thousands of signups per day by December 2023. This led to a $3.5 million seed round led by Polychain and Tribe Capital, and including angel investors such as Sami Kassab of OSS Capital and Kunal Goel of crypto research firm Messari.

That same month, Grass partnered with Solana Saga cell phone, launching its Grass Mobile app in the Saga dApp storeand exposing Grass to the Solana ecosystem and the eyes of the crypto world at large.

Fast forward to yesterday (June 19), Grass announced that not only is it expecting an influx of new users soon due to “certain reasons“, but they are also launching the Grass App Store, a variety of free apps – the first being the Grass Community Node – that allows users to help test new features while receiving a multiplier from their Grass score.

The Grass team is currently partnering with AI labs and other projects that believe in their cause, and are looking to develop applications beyond AI training, such as market analysis tools, advertising optimization tools, financial insights tools and a variety of other applications. for industries where data-driven decision-making can be improved by access to the public data that AI provides.

Source: GigaBuds

What is GigaBuds?

Last week, according to industry sources, Grass announced plans for an NFT collection for a small group of his most loyal and long-time supporters as a token of his appreciation – ahead of the proposed token launch, expected to arrive in mid-August.

This echoes a tweet published by the enigmatic GigaBuds account on The account has posted several character-based teasers over the past week, inferring that some sort of character-based, narrative-driven NFT collection is coming to Grass.

Our sources indicate that GigaBuds is the name of this NFT collection, and that these NFTs will play a key role in Grass’ future growth, with a number of benefits and utilities available to holders.

A select group of Grass users were invited to participate in a pre-sale held last week, which sold out within minutes.

Additional information about the GigaBuds is not yet known – although with Grass teasing a major update that will result in a “huge influx of new users soon”, we believe it won’t be long before everything is revealed.

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Will Konami’s Avalanche NFT Gambit, Resella, Revolutionize Gaming or Make Money?

TokenTalk Staff

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Will Konami's Avalanche NFT Gambit, Resella, Revolutionize Gaming or Make Money?

On Thursday, one of Japan’s biggest game developers and publishers, with a 21% market share – Konami Digital Entertainment, the brains behind beloved franchises like “Metal Gear Solid” and “Silent Hill,” announced a strategic move into the world of non-fungible tokens (NFTs) with the launch of its new platform, Resella. Built on the Avalanche subnet and supported by Ava Laboratories‘ AvaCloud Web3 launchpad service, Resella aims to streamline NFT integration for video games and other applications.

While some gamers remain skeptical about the technology’s potential impact on gameplay, others see it as an opportunity to unlock new avenues for creativity and monetization.

Here’s a summary of what we know so far about Resella and its potential implications for the Web3 Games industry.

Resella: An Easy-to-Use NFT Marketplace

Konami promises a user-friendly experience with Resella, eliminating the need for complex crypto wallets or cryptocurrency transactions. The platform will allow domestic users to transact in fiat currency (such as the Japanese yen), with plans for global expansion.

Avalanche, known for its high throughput and low latency, offers a perfect playground for Konami’s ambitious plans. Resella is poised to leverage Avalanche’s technology to create and manage NFTs and bypass gas fees, which is a big problem for NFT enthusiasts.

According to the announcement, Resella will feature exclusive digital collectibles related to its popular gaming franchises. These collectibles will include in-game assets, memorabilia, and exclusive content that players can buy, sell, and trade. NFTs (Non-Fungible Tokens) will be minted on Avalanche to guarantee their authenticity and rarity.

Konami’s entry into the NFT market indicates a broader industry trend where gaming companies are exploring blockchain to increase user engagement and revenue streams.

For example, Assassin’s Creed creator Ubisoft is set to release its first original blockchain game, Champions Tactics: Grimoria Chronicles, this year. They have also launched other blockchain projects and collaborated with several networks in recent years. Square Enix, the minds behind Final Fantasy, released an Ethereum-based narrative game called Symbiogenesis in late 2023 and has pursued other blockchain initiatives.

Likewise, Sega has incorporated some of its franchises into Web3 through collaborations. This growing interest from major players suggests that NFTs and blockchain technology have the potential to significantly impact the gaming landscape, but the reception from gamers remains to be seen.

Konami’s vision of a broader NFT ecosystem

Konami sees Resella as more than just an NFT marketplace. The platform is designed to be an infrastructure solution, allowing companies to create and integrate NFTs seamlessly into their applications. This could revolutionize how players interact with in-game items, offering exclusive ownership and fostering new communities.

The Skeptics’ Corner: Concerns About Pay-to-Win

The announcement was met with a healthy mix of widespread interest and speculation. The gaming community has its reservations, as is to be expected. A significant concern is the potential for NFTs to exacerbate the dreaded “pay to win” model, where players who spend more real money gain a considerable advantage. Furthermore, the environmental impact of blockchain technology is a growing concern and NFTs are no exception.

However, experts suggest that Konami’s move could pave the way for other major gaming companies to explore blockchain technology. The success of this initiative could potentially lead to a paradigm shift in the way digital assets are perceived and used in games.



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Konami Leverages Avalanche to ‘Resella’ Yen-Based NFT Marketplace

TokenTalk Staff

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Konami Leverages Avalanche to 'Resella' Yen-Based NFT Marketplace

Resella will comprise a centralized NFT marketplace that supports payments in the form of Japanese yen.

Konami Digital Entertainment, the famous Japanese game developer and publisher, is the latest mainstream gaming company to adopt non-fungible tokens.

On June 20, Konami announced that it will launch an NFT marketplace centered on Avalanche, the 11th largest smart contract network by total value locked (TVL).

Konami’s upcoming NFT marketplace Resella will allow users to create, launch and trade non-fungible tokens without using a web3 wallet. The marketplace will be deployed as a subnet of Avalanche.

Resella is adapted for the Japanese market and will support settlement of transactions using Japanese yen.

“Resella eliminates the need for users to open an external Web3 wallet or engage in complex cryptocurrency transactions, thus potentially reducing barriers to entry,” said Konami.

Konami intends to integrate traditional companies and brands with an emphasis on gaming into the NFT sector with Resella. Konami said developers can create NFTs tied to game environments that unlock special in-game content or act as event tickets.

Konami Digital Entertainment is the company behind major gaming franchises including Metal Gear, Silent Hill and Castlevania.

Konami’s entry into the web3 sector could serve as a boon for Avalanche’s NFT ecosystem.

NFT sector struggles

Data from Dapp Radar shows just two NFT collections driving sales in the last 24 hours, with Castle Crush NFTs generating $440 in trades and OG Thor tokens representing just $25 in trades.

CoinGecko estimates that Avalanche-based NFTs represent a market value of $27.3 million, paling in comparison to the $6.8 billion worth of non-fungibles on Ethereum.

However, many leading Ethereum collections have suffered recently heavy drawdowns as Blur’s third season of incentives comes to an end. Four of the five biggest collections by market value posted losses between 24% and 33% last month, according to NFT Price Floor.

Avalanche AVAX token is up 3.58% in the last 24 hours but is down 32% in the past month, according to The Defiant’s crypto price feeds.

Related: Citi Leverages Avalanche for Institutional Tokenization Tests

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