Today in Crypto: ‘End of NFT Winter is Not Yet Visible’, Tattoos Come With Digital Twins, NEAR Partners with Berklee College of Music
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- Blockchain data analytics platform Nansen‘s analyst Sandra Leow found that “based on our study, the end of the NFT winter is not yet visible, neither in the price of collections nor in the on-chain data that we’ve explored.” Per the latest report, where Leow evaluates the state of NFTs, prices, volumes, and the competitive environment of marketplaces, the volume and liquidity are still thin across the non-fungible token (NFT) collections. The total NFT market capitalization stands at 2.6M ETH (~$4.3B) at the time of writing, while the NFT market cap peaked at about $3T in November 2021. The average number of NFTs bought and sold per wallet has been decreasing significantly since 2021, suggesting a lack of trading activity, the report noted.
- Co:Create Ink, powered by the API-first community activation and rewards platform Co:Create, announced its waitlist launch in partnership with more than ten world-renowned tattoo artists, including Katrina “Kat Tat” Collins, Snuffy, Cleo Kinnaman, Dillon Forte, Black Symmetry, and others. Per the press release, Co:Create Ink makes it possible for artists to certify and authenticate the tattoo art pieces clients purchase after getting them inked— and for others to verify — using blockchain. Furthermore, collectors who buy tattoo pieces on the Co:Create platform will receive an artist-certified digital twin, which can then be transferred and potentially traded.
- The Render Foundation announced that the decentralized Render Network upgraded its core infrastructure from Ethereum to Solana. RNDR token holders can now migrate tokens from the Ethereum blockchain to the Solana blockchain using the Upgrade Assistant, the announcement said. To help facilitate a swift and successful upgrade, the Render Foundation has allocated up to $2.68 million in grants to subsidize user transfer fees on Ethereum associated with the upgrade. The upgrade assistant grant program will be in effect for three months, after which holders will have to pay their own gas fees to migrate RNDR tokens to Solana.
- The NEAR Foundation, the non-profit that supports the growth and development of the NEAR ecosystem, announced a partnership with Berklee College of Music, the world’s largest independent college of contemporary music and performing arts. Berklee has selected the NEAR Foundation as a technology partner to develop an app called RAIDAR (Rights and Asset Information in Decentralized, Authoritative Repositories), which allows musicians and creators to buy and sell music licenses, according to the press release. Musicians will upload their music files and metadata through a mobile- and desktop-friendly web app. Then, their song will be represented by a unique, secure smart contract and assigned to the creator’s wallet as an asset or non-fungible token (NFT). All transactions are recorded on the NEAR blockchain in order to ensure legal, accurate, and historic representation of the creators’ works. It will utilize smart contracts to disintermediate the licensing process and ensure that musicians receive the full economic value and credit for their works, it said.
- Responding to user requests, Worldcoin‘s digital wallet World App is now available in more languages and local currencies (previously primarily listed amounts in USD regardless of location), according to the announcement. The update enables users to customize their experience with multiple languages, including Catalan, English, French, Hindi, Portuguese, and Spanish, with Chinese (simplified), Japanese, and Korean set to follow this year. Additional currencies include the Argentine Peso, Brazilian real, Chilean Peso, Euro, Indian rupee, Japanese yen, Kenyan shilling, Korean won, Mexican peso, and Singapore dollar.
- Crypto payments platform Wirex announced the launch of its Metal Card, accompanied by an enhanced membership plan, the Metal Membership Plan. This offering comes with benefits and a personalized experience for all financial activities of its users, according to the press release. The company offers three tiers: standard, metal, and private plans. While both Standard and Metal tiers provide strong benefits, the Metal Plan stands out with priority support, exclusive merchant privileges, lower APRs, and other perks, the company said.
- Bitcoin miner CleanSpark released its unaudited Bitcoin mining and operations update for the month ending October 31, reporting that it sold BTC 562 at an average of approximately $28,600 per BTC. Sales of BTC equated to proceeds of approximately $16 million. October daily BTC mined averaged 20.42 and reached a high of 22. It further reported BTC 6,005 mined CY2023; BTC 2,311 holdings as of October 31; BTC 562 sold in October; a deployed fleet off 88,825 machines; month-end fleet efficiency of 27.32 J/Th; and the current hashrate of 10.02 EH/s.