UK politicians enter the metaverse, mainstream media says NFTs are worthless: Nifty Newsletter

In this weeks newsletter, have a look at Glassnode data that shows nonfungible token (NFT) protocol Bitcoin Ordinals might not be clogging the network. Read about British political leaders utilizing the metaverse to talk about opportunities and difficulties in Web3, and find out why Rolling Stone states NFTs are “lastly completely useless.” And dont forget this weeks Nifty News, featuring world-renowned artist Takashi Murakami saying he may not release anymore NFTs. U.K. political leaders wear metaverse avatars as they share Web3 roadmapPoliticians in the United Kingdom collected in the metaverse on Sept. 20 to set out a vision for the countrys Web3 and blockchain market. The event included 8 British Lords, political leaders and global leaders discussing both the opportunities and difficulties that the growth of Web3 technology might bring. According to Natalie Elphicke, a member of parliament who appeared with an unique avatar in the metaverse, Web3 “reimagines the very material of the web,” representing a paradigm shift. Continue readingBitcoin Ordinals have not wrestled blockspace from cash TXs: GlassnodeData from on-chain analytics firm Glassnode shows that regardless of concerns the NFT-like Bitcoin Ordinals protocol is obstructing the Bitcoin network, theres little evidence to prove it. According to Glassnode, engraving users tend to set low charge rates, showing they are more ready to wait longer for verification. “Inscriptions seem purchasing and taking in the cheapest available blockspace, and are readily displaced by more urgent monetary transfers,” the company discussed in its on-chain report. Continue readingNFTs are “absolutely useless” states mainstream media, neighborhood respondsMedia outlet Rolling Stone has actually stated that NFTs are “lastly totally worthless” in a recent report. The firm cited the findings of a DappGambl study on the NFT landscape. According to the data, as much as 95% of NFTs owned by over 23 million users have no worth at all. Members of the neighborhood responded to the report, with some showing previous posts from the media outlet that promoted the Bored Ape Yacht Club collection. The neighborhood member highlighted the extreme shift in the media story concerning NFTs. Continue readingNifty News: Murakami to step back from NFTs, Dan Harmons NFT show debut and moreJapanese artist Takashi Murakami has just recently said he may not release anymore NFTs after entering the marketplace in 2021. The artist said in an interview with The Guardian that maybe he is “done launching NFTs.” Murakamis NFT collection Murakami.Flowers produced over $40 million in secondary trading volume, according to data from NFT market OpenSea. Meanwhile, NFT artist Danny Casale just recently won a multimillion-dollar agreement dispute with a Web3 art curator called DigiArt. DigiArt sued Casale in March 2023 for supposedly breaching their contract after releasing his own NFT task. Nevertheless, a judge has taken the artists side as there was no contract start date specified. Continue readingCHECK OUT COINTELEGRAPHS NFT STEEZ PODCASTThanks for reading this absorb of the weeks most notable developments in the NFT area. Come once again next Wednesday for more reports and insights into this actively developing area.

Continue readingNifty News: Murakami to step back from NFTs, Dan Harmons NFT show debut and moreJapanese artist Takashi Murakami has just recently said he may not launch any more NFTs after going into the market in 2021. Murakamis NFT collection Murakami.Flowers produced over $40 million in secondary trading volume, according to information from NFT market OpenSea. NFT artist Danny Casale recently won a multimillion-dollar contract disagreement with a Web3 art curator called DigiArt. Continue readingCHECK OUT COINTELEGRAPHS NFT STEEZ PODCASTThanks for reading this digest of the weeks most noteworthy developments in the NFT space.