This week’s featured collector is Akkileish

Akkileish’s collection is a pastiche of styles ranging from Wild West figures to cyberpunk characters, highlighting a blend of historical and futuristic themes. The collection features techniques ranging from stark monochrome to vivid neon, suggesting an appreciation for aesthetic complexity. Check it out at lazy.com/akkileish

The results of last week’s poll: How frequently do you seek out news and updates on NFTs?

A significant majority, 44%, reported they rarely seek out news about NFTs. A notable minority, 31%, report doing so a few times a week, suggesting an enduring but not daily interest. Only 6% check daily, which points to a smaller core of highly engaged individuals. The absence of any respondents who check multiple times a day could imply that Lazy users do not see the NFT market and/or news cycle as warranting constant attention. The results of this poll suggest that the NFT community has varied levels of engagement, with a substantial portion not actively seeking frequent updates, which could reflect the ongoing NFT bear market or a preference for less frequent, substantial news over constant, incremental updates.

Frame: A Royalty-Focused NFT Blockchain is Launched

Two weeks ago, we covered the launch of RARI Chain, an NFT-focused blockchain that promises to mandate royalties. This week, Frame, a second NFT blockchain designed to protect creator royalties has been launched.

Frame is a Ethereum Layer 2 engineered to prioritize NFT transactions with an emphasis on cost efficiency and speed. Central to Frame is the integration of Palette Protocol, a system purpose-built to administer NFT royalties.

With Palette Protocol, Frame aims to ensure enforcement of NFT royalties. Additionally, Frame will allocate a portion of the fees generated by the blockchain to the Frame Creator Fund, an initiative designed to support and bolster the creative community within its platform, with details on its implementation and governance yet to be disclosed.

With RARI Chain and Frame now in the wild, the battle to become a home for NFT royalties is heating up. Will there be a third contender? Time will tell. In any case, it is increasingly looking like NFT-specific blockchains will be a key component of the next wave of NFT innovation.

China Strategizes to Lead in Web3 Era by Embracing NFTs

A recent statement by China’s Ministry of Industry and Information Technology suggests the country is advancing efforts to develop and integrate Web3 technologies, with a special focus on the NFTs. The statement argues that China’s approach to Web3 development places significant emphasis on exploring NFTs, as part of its broader strategy to embrace blockchain technologies. This exploration extends to various sectors such as healthcare, education, and tourism, where NFTs are anticipated to play a critical role. Meanwhile, companies are actively contributing to this development, launching digital collectibles and Metaverse-related products that integrate NFT technology.

Until now, China has not played a major role in the global NFT ecosystem. However, if this statement is to be believed then that may be changing in the years ahead.

This week’s poll: How significant do you think China’s impact will be on the global NFT market in 2024?

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This week’s featured collector is NFTFox

NFTFox’s collection showcases a dynamic blend of themes, from the intense spectacle of a fiery explosion to a nostalgic, graffiti-style nod to classic video games, and surrealistic portrayals. Each piece in their collection captures the essence of NFTs: unpredictable, culturally rich, and boundlessly creative. Check it out at lazy.com/nftfox

The results of last week’s poll: What do you think about the RARI Chain’s approach to NFT royalties?

The poll results reflect a mostly positive opinion on the RARI Chain’s approach to NFT royalties, with the most significant share of respondents, each at 36%, viewing it as an “Innovative approach” and “Good for artists,” indicating a majority perception that this royalty-mandatory blockchain could be a groundbreaking and beneficial solution for creators. In contrast, only 9% of the participants doubt its potential to become widely accepted, marking it as “Won’t catch on.” A equally small proportion, another 9%, admit to uncertainty, selecting “I’m not sure,” which suggests a need for more information or clarity on the subject. Lastly, the “Something else” option, also at 9%, points to the presence of alternative perspectives or considerations not captured within the poll’s provided choices. Based on this informal poll, it looks like RARI Chain could be onto something.

Where do you get your NFT news? Here are some of our favorite sources.

Navigating the complex and nuanced world of NFTs requires access to current, credible news sources that can keep you up to date with the ever changing intricacies of this digital asset class. For enthusiasts, creators, or stakeholders, it is important to understand the subtle shifts in narratives, legal frameworks, and the technological underpinnings of NFTs.

This week we’re delving into some our favorite sources of news about NFTs.

News Aggregators: OnePageCrypto and LuckyTrader

OnePageCrypto.com is a news site that does exactly what the domain name describes: an ultra-efficient one page website that aggregates news from across the crypto ecosystem, including NFTs. This is a relatively new website and one that we will be keeping tabs on. Another favorite is LuckyTrader.com which features original content about digital assets.

Telegram: NFTek News and NFT Avenue

Telegram is often the place to go for real time updates on NFT news. There are many different channels worth checking out. Two of our favorites are NFTek News for news and NFT Avenue for chat.

Crypto-Native App: Farcaster.xyz

If you’re open to trying something new then give Farcaster a chance. Many well known people in the crypto ecosystem use the app. And because it is still relatively unknown, there are a lot fewer bots and spam.

This week’s poll: How frequently do you seek out news and updates on NFTs?

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This week’s featured collector is CryptoJack2

CryptoJack2 has a diverse, and large, collection of Ethereum NFTs. Lots to see and appreciate here: lazy.com/cryptojack2

The results of last week’s poll: What initially drew you to NFT collecting?

Last week’s poll underscores that what drew most people into the NFT ecosystem was the appreciation of digital artistry. Community and financial speculation were tied for the second most reason people joined. The modest yet notable interest in blockchain’s technical side points to opportunities for innovation and education in this space. Collectively, these insights hint at a multifaceted NFT market where artistic merit, community ties, and economic potential coalesce to attract collectors.

Rarible Launches Royalty-Mandatory Blockchain

The RARI Foundation is launching RARI Chain — an Ethereum compatible blockchain that leverages Arbitrum to offer a royalty guaranteed infrastructure for NFTs. The blockchain will be unique because it embeds royalty enforcement within the architecture of its nodes—if trade don’t pay the royalty then the transaction will fail. The goal is to provide a secure and reliable method for NFT creators to receive compensation.

How Royalties Will Work on RARI Chain

Central to RARI Chain’s royalty system is the EndTxHook feature, which validates royalty payments post-transaction. If the transaction does not honor the stipulated royalties, it is automatically reversed. An NFT sale on RARI Chain is defined as a transfer of NFTs for ETH or ERC20 tokens, confirmed via transaction logs. In other words, the blockchain will automatically scan transactions to determine if an NFT was bought or sold and, if so, it will require royalties to be paid for the transaction to be approved.

Most interesting is that NFTs can be bridged to RARI Chain. This will allow creators and collectors to voluntarily transfer their NFTs to a royalty respecting blockchain.

Final Thoughts

The RARI Chain’s approach to embedding royalty enforcement within its blockchain architecture sparks two contrasting perspectives.

On one hand, it can be seen as a step forward in ensuring artists and content creators are fairly compensated for their work. This could potentially lead to a more sustainable and equitable ecosystem in the NFT space, encouraging more artists to participate.

Conversely, some may argue that this rigid enforcement of royalties could stifle the secondary NFT market. The mandatory royalty system might dissuade collectors and traders from engaging with NFTs on the RARI Chain, or bridging their NFTs, fearing additional costs and complexities. This could limit the liquidity and market reach of NFTs on RARI Chain, potentially impacting their overall value and appeal.

Ultimately, the RARI Chain approach only works if users flock to it.

Time will tell whether RARI Chain will take off. But it is clear that the royalty debate is far from finished as more and more novel solutions are being proposed.

This week’s poll: What do you think about the RARI Chain’s approach to NFT royalties?

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This week’s featured collector is Need1892

Need1892 has several NFTs commemorating Ethereum’s blockchain and technology. One of the NFTs that caught our attention is the Proof of Stake: Pages, an NFT that celebrates the publication of a book by Vitalik Buterin. Browse the full collection at lazy.com/need1892

The results of last week’s poll: What future NFT development are you most eager to see?

There’s a significant interest (40%) in NFTs becoming commonplace digital assets, reflecting a desire for broader adoption and integration into daily life. Physical-digital art hybrids are also a notable area of interest (25%), suggesting that the blending of tangible art with blockchain verification is an appealing prospect for ensuring authenticity and ownership. The evolution of royalty structures has garnered less attention (10%), which may indicate satisfaction with current models or perhaps a lack of faith that something better is possible. Finally, ‘Something else’ has a substantial 25% of the votes, pointing to a desire for innovations beyond the given options.

Sky Mavis Grants Select Axie Infinity NFT Holders Commercial Rights Amid Official Merchandise Launch

Sky Mavis, the creator of the turn-based game Axie Infinity, has extended commercial rights to a select group of its NFT holders, enabling them to create and sell merchandise and content based on their digital assets. This applies to 4,877 NFTs from the Mystic and Origin collections, signaling a careful approach to empowering users commercially while maintaining brand integrity. Coinciding with this development, Sky Mavis launched an official merchandise store offering a variety of products tied to the Axie Infinity brand, strategically timed for the holiday season. Yet, this commercial allowance pertains to only a small fraction of the total NFTs—a mere 0.04% of all Axie NFTs—indicating a tentative exploration into the potential of decentralized NFT commercialization.

Cool Cats NFT Collection Floats in the 2023 Macy’s Thanksgiving Day Parade

Cool Cats NFTs appeared in the 2023 Macy’s Thanksgiving Day Parade in the United States. This marks the first time an NFT collection has appeared in the celebrated parade. The inclusion of Cool Cats comes after their victory in Macy’s online contest, which offered NFT brands a spot in the historic event. Further evidence that NFTs continue to make inroads into mainstream culture.

This week’s poll: What initially drew you to NFT collecting?

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This week’s featured collector is Rainster

Rainster’s collection focuses on Ethereum NFTs. They’ve collected a few interesting artworks including a portrait of Beeple and animated Glitch NFTs. Browse the full art collection at lazy.com/rainster

The results of last week’s poll: How significant do you think the role of NFT utility trading will be in the future of NFT marketplaces?

Last week’s newsletter featured a new marketplace for NFT utility. We then asked our readers to predict how important NFT utility trading will become in the future. The results were mixed and suggest a cautiously optimistic view, with a slight majority considering NFT utility trading to be a major player in future marketplaces, while a significant minority are either uncertain or foresee a lesser impact.

Beeple on the Future of NFTs: Evolution and Adoption

Mike Winkelmann, known professionally as Beeple, is a digital artist who has become one of the most prominent figures in the world of NFTs in 2021 with his record-breaking $69 million sale of an NFT at Christie’s auction house. Beeple’s work has since been synonymous with the explosive growth and interest in NFTs as a new medium for digital art ownership and collection.

In a recent talk with Matt Medved, co-founder and Editor-in-Chief of NFT Now, Beeple discussed the evolving landscape of NFTs and digital art. Here are a few of the main insights into the evolving NFT space which will be of interest to collectors and creators:

1. Digital Art’s Evolution: Beeple shares his vision of integrating digital and physical art. He talks about how digital art can be more actively experienced in one’s environment, similar to traditional art, creating a stronger emotional connection. For creators, this highlights the potential for hybrid artworks that engage audiences across multiple dimensions, and for collectors, it suggests the value in seeking out works that offer such a dual experience.

2. NFTs as a Reflection of Internet Culture: Beeple discusses his “Everydays” series, likening it to a form of political cartooning for internet culture, documenting the zeitgeist. This approach suggests that NFTs can serve as historical records, offering collectors the opportunity to own pieces of digital history and creators a chance to contribute to the cultural narrative.

3. Conceptual and Technological Challenges: Beeple acknowledges the challenges of the NFT term becoming associated with scams and suggests that the technology will need time to mature and be understood. He believes that future generations will naturally understand the concept of virtual ownership, which suggests a long-term perspective on the value of NFTs.

4. Creator Royalties and Market Evolution: Addressing the contentious issue of creator royalties, Beeple argues for realistic expectations, drawing parallels with the music industry. He posits that the NFT ecosystem’s development will require both technological and social solutions, and he calls for a community-driven approach to uphold the values behind NFTs, such as ongoing creator compensation.

Overall, the talk points to a need for patience, innovative thinking, and community-focused efforts to navigate the NFT landscape, emphasizing both the medium’s current state and its potential to reshape the art world.

Watch the full interview here.

This week’s poll: What future NFT development are you most eager to see?

We ❤️ Feedback

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This week’s featured collector is GirthFingers

GirthFingers has a large collection of NFTs ranging from art to pfps. Lots of great pieces make the collection worth a look. Check it out at lazy.com/girthfingers

The results of last week’s poll: Is the recent spike in NFT trading volume a sign of a sustained market recovery, or just a temporary surge?

Nearly half of respondents to last week’s poll think the bear market for NFTs may finally be coming to an end. A third remain more cautious. We’re keeping our fingers crossed! 🤞🏽

The Future of NFTs in Art, Gaming, and Marketplaces

In the realm of art, NFTs challenge traditional notions of ownership and distribution, raising questions about the value and provenance of digital art. In gaming, they offer innovative ways to handle in-game assets, but also introduce complexities around player economies and game design. Marketplaces for NFTs are evolving too, going beyond trading NFTs as collectibles to trading the underlying utility that the NFTs represent.

This week we’re exploring a few of the recent advances that NFTs have made in these three fields.

Delegate’s New Marketplace: A Step Foward for Buying and Selling NFT Utility

Delegate.xyz has unveiled a marketplace that revolutionizes the trading of NFT utility. This platform differs from traditional NFT marketplaces: instead of buying and selling NFTs, Liquid Delegate allows the tokenization and exchange of the NFT’s utilities. For example, if an NFT grants event access or premium merch claims to its owners, then these rights can be bought without buying the underlying NFT.

Here’s how it works:

1. Users deposit NFT asset into escrow

2. Users receive a “Principal Token” (representing ownership of the NFT) and a “Delegate Token” (for trading the utility rights of the NFT)

3. Users can sell the Delegate Token while maintaining ownership of the Principal Token.

Implications for NFT Holders and Traders:

• For Holders: An opportunity to monetize their NFTs’ utility without risking the underlying asset.

• For Traders: A chance to speculate on the future value of NFT utilities, potentially benefiting from events like airdrops.

The Hot Potato on NFT Twitter: A Blend of Art and Game Mechanics

Vincent Van Dough’s creation of a “hot potato” NFT has stirred a unique blend of art and interactive gameplay within the NFT community. The game, requiring the NFT to be transferred every 24 hours, showcases a dynamic interplay of social engagement and performance art. Now players are wondering: how many consecutive days will the game be played before the potato is destroyed?

Elements of Interest:

• Community Involvement: The game has engaged various prominent figures in the NFT space.

• Artistic Merit: The hot potato NFT connects to the roots of crypto art, reflecting on the medium’s potential for creative expression and communal interaction.

• Social Media Dynamics: The game has generated a substantial amount of creative content, humor, and community bonding, which is especially welcome during the ongoing NFT bear market.

Ubisoft’s Foray into Ethereum NFTs with ‘Champions Tactics’

Ubisoft, known for major gaming titles such as Assassin’s Creed, is embracing blockchain technology with the introduction of Ethereum NFTs for its upcoming game, ‘Champions Tactics’. This move reflects a growing trend of established gaming companies exploring the potential of NFTs and blockchain in gaming.

Highlights:

• Free NFT Minting: Ubisoft plans a free NFT mint for ‘Champions Tactics’, requiring only Ethereum gas fees.

• Warlords PFPs: These pixel-art NFTs (a throwback to the early days of Ethereum NFTs) offer early access to game features and are part of a larger strategy to integrate NFTs into the gaming experience.

Final Thoughts

While mainstream attention may have moved on (temporarily) from NFTs, the technology and culture continues to build. This week’s developments highlight the evolving landscape of NFTs, where utility, artistic expression, and gaming experiences are becoming increasingly intertwined.

This week’s poll: How significant do you think the role of NFT utility trading will be in the future of NFT marketplaces?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com