NFT Roundup: Demand for Digital Image Assets Moves Deeper Into Mainstream 

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Coinbase, the cryptocurrency exchange, announced that it volition soon debut a marketplace for NFTs. Meanwhile, Visa and TikTok partnered with creators connected new, NFT-focused projects. Bank of America published a study saying crypto and NFTs are “too ample to ignore.” Indeed, observers estimated that truthful acold this year, income of NFTs person totaled anyplace from $7 cardinal to $13.2 billion. 

Visa Creates Program to Highlight, Promote NFT Artists

For its part, Visa is now partnering with creator Micah Johnson, the erstwhile 2nd baseman and outfielder for the White Sox, Dodgers, Braves and Rays, successful gathering a programme to enactment artists in the instauration of NFTs, according to an Oct. 13 announcement connected Visa’s website. 

Through the collaborative effort, Visa and Johnson volition assistance creators recognize NFT exertion and however to harness nationalist blockchains for producing and selling integer goods. 

For its part, Visa volition connection an unfastened exertion process aimed astatine selecting a radical of creators. From there, the institution volition sponsor the group and connection consultation services to assistance participants determination done the satellite of crypto and accepted outgo infrastructure. In addition, Visa volition look to make relationships betwixt artists and Visa’s web of outgo providers, who tin assistance creators expand their assemblage basal and turn their businesses. 

Coinbase Creating NFT Marketplace 

Coinbase besides announced connected Tuesday (Oct. 12) that it volition soon debut a marketplace for NFTs that volition fto users mint, cod and commercialized the coins, according to a CNBC report. Users tin motion up for a waitlist for aboriginal entree to the feature, the institution said successful a blog post. 

The NFT marketplace exceeded $10 cardinal successful transaction measurement successful the 3rd 4th of 2021, according to the report, citing crypto-based information tracker DappRadar. 

Coinbase’s NFT marketplace, called Coinbase NFT, volition see what institution leaders described arsenic “social features,” and volition besides pat into what’s known arsenic the creator economy, comprised of radical who marque wealth posting videos and different contented online. 

NFT Fever Sends Q3 Sales Surging to $10.7B 

The clamor for NFTs continues to vigor up, with third-quarter income of $10.7 billion, up from $1.3 cardinal successful the erstwhile 4th and $1.2 cardinal successful the first, DappRadar data shows. 

Sales of NFTs mostly hap crossed 1 of the galore blockchains, though immoderate instrumentality spot off-chain astatine auction houses similar Christie’s and Sotheby’s, which tin marque tracking income measurement hard and variable. 

DappRadar, which compiles information from respective blockchains and includes off-chain transaction data, pegs the measurement of NFT income astatine $13.2 cardinal truthful acold this year. CryptoSlam data, which doesn’t see off-chain volume, puts 2021 income astatine $9.6 billion., which collects information lone from the Ethereum blockchain, tallied $7 cardinal successful income truthful acold this year. 

BoA Says Crypto, NFTs ‘Too Large to Ignore’ 

Bank of America (BoA) has published a study saying that cryptocurrency and NFTs are apt present to stay, Cointelegraph reported. 

The BoA study said crypto’s $2.15 trillion marketplace capitalization is excessively large to ignore, and that the currency has evolved acold beyond lone bitcoin. According to the report, per Cointelegraph, integer currencies are “not astir payments, per se. They’re astir a caller computing paradigm — a programmable machine that is accessible everyplace and to anyone, and owned by millions of radical globally.”

Rapper Lil Nas X Launches First TikTok NFT 

TikTok is partnering with its apical creators and jumping into the NFT pool, with rapper Lil Nas X launching the societal media site’s archetypal bid of limited-edition tokens this month, according to a Sept. 30 announcement. 

Lil Nas X volition beryllium joined by Rudy Willingham for the archetypal release, followed by different TikTok creators partnering with the tract to make unsocial works for TikTok’s archetypal NFT collection, TikTok Moments. 

“Each one-of-one NFT celebrates the interaction these creators — including Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante and Gary Vaynerchuck — person made crossed entertainment, civilization and the TikTok community,” the announcement stated. 

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