NFT News Today 10th May 2022 What You Need To Know

NFT news today 10th May 2022 can be accessed below:

What are NFTs?

NFTs are: Nonfungible tokens, or NFTs, are verifiably unique digital and physical commodity representations.Each NFT is unique in terms of its composition, and thus in terms of its worth.

iexclusivenews Nigeria has compiled the latest news on NFT News Today making rounds this week.

1.Otherdeed for Otherside nonfungible token (NFT) floor price has dropped below its mint price to 2.45 ETH worth about $5,713 as other major collections are also getting hit. Yuga Labs’ Otherdeed for Otherside collection. Which included the Bored Ape Yacht Club (BAYC) collection. Was a much-anticipated NFT mint for their planned Metaverse platform. Read More

2. Azuki NFT Founder Admits to Abandoning Past Projects.The pseudonymous founder of the popular Azuki non-fungible token (NFT) project revealed his fraught history with abandoned projects Monday night, sending NFT Twitter into a frenzy and the collection’s floor price dropping. Read More.

3. Tamil Thalaivas has launched ‘phygital’ NFT, in collaboration with Sportzchain, commemorating an achievement in the sportsman’s career. From May 10 on the Sportzchain NFT website, housed on NgageN, the NFT will be available as a physical asset. Read More

4. Mark Zuckerberg, Meta (FB) CEO stated in a video Monday that Instagram will begin testing non-fungible token (NFT) integrations this week.iexclusivenews reports that the testing will begin with any of the selected blockchains, Ethereum, Polygon, Solana and Flow. Read More

5. The Japanese Prime Minister Fumio Kishida has stated that Web3-related growth – including metaverse and non-fungible token (NFT)-related developments – will be part of the nation’s growth strategy going forward, and called on British business leaders to back his project. Read More.

6. Last week, 55,000 parcels of “virtual land” were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn’t without controversy. In return for shelling out close to $6,000, a purchaser received an Otherdeed NFT, which authenticates that buyer’s ownership of a patch of digital real estate in developer Yuga Labs’ new Otherside game environment. Read More

7. People and companies are investing a lot of money in land and spaces in the metaverse, just the way they do in the real world, hoping to get a return. This means understanding the metaverse and its full potential, especially in terms of using advertising to generate passive income from their investments. Consider that the metaverse is more than a trendy new thing; it is the next iteration for the internet and, therefore, a logical transition for investors and marketers. Read More