Author: dfmines

NFTs will take center stage in 2022. They have established themselves as a major market segment in the crypto industry, with more than $20 billion in trading volume and mainstream participation from all corners of the world. NFTs have now become a market-expanding technology. So, it is no longer limited to art or any type of digital collectible. Its true ownership and non-fungible characteristics enabled multiple use-cases in the real world. Among many innovative use-cases of NFTs, the one that stands out and can immediately make a global impact is ticketing in the music industry. For years, the music industry has been stagnant, with incremental improvements that made no significant impact on artists and the music landscape as a whole. In addition, the music ticket market is fragmented. Only a few handful companies control the market by scalping and using bots to scoop up tickets at low prices and benefit from the arbitrage. This creates a multi-billion dollar secondary market where fans have to purchase at exorbitant prices and still face uncertainty whether they will be allowed to an event. To escape from this centralized system and give back control to artists, it is essential to incorporate NFT ticketing at scale. How Can NFTs be the Game-Changer For starters, NFTs provide fans and artists with a special experience in the digital world. NFT tickets can’t be destroyed and due to their unique nature, they can easily be showcased and shared with others on the Internet. For example, the Dallas Mavericks, owned by Mark Cuban, decided to issue 20,000 NFTs for every home game. Fans were allowed to trade their NFTs, with sales ranging from $200 to $10,000. So the same can be applied to the music industry. It can forever solve the transparency problems as it is all recorded on the blockchain. As a result, bad actors in the secondary market can no longer rip off fans with a fake ticket. NFTs can fix this too. Artists can launch NFT music albums and other collectibles for fans to purchase off a marketplace. Artists would also receive royalties for every sale made, increasing the utility value for them. So NFTs not only solve the monetization problem of a $15 billion secondary market, but they also help artists leverage their global fan communities to make more revenue. Centaurify: The NFT Bridge to Music Industry Centaurify is the leading DeFi platform to provide NFT ticketing for large-scale real-life usage. Built using Ethereum, Solana, Polkadot, and Cardano networks, Centaurify can provide a greener alternative to mint and distribute thousands of NFTs at low costs. The platform can also control the secondary market by setting a minimum and maximum resale value. So this puts an end to all scalpers and software bots for good. And artists and organizers will have the power to set rules (with programmable smart contracts) for the secondary market. For Artists, Centaurify has a marketplace to create and sell music NFTs or use them as an upsell to the main concerts. Centaurify also offers staking features with their native token, $CENT. If fans have more staked tokens, they will have more exclusive rewards, like VIP access and live tours. So with an intersection of DeFi and NFTs, Centaurify can incentivize artists and fans and ultimately bring back the concert scene worldwide. The Future of Blockchain Ticketing NFTs are here to stay. As time passes, every industry and brand will have an NFT strategy to tap into global audiences. In the Music industry, NFTs can give artists a new voice and help them connect with their fan communities. They can also solve the secondary market problems and enable fair distribution of tickets. To implement this, we need platforms like Centaurify for ticket minting and market functions. With more artists and organizers on board, we will witness a paradigm shift in the music ticketing industry.  

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The internet has provided a remarkable stage for creativity and innovation. However, there is a problem: conventional content creators are not appropriately compensated for their efforts. Despite its best efforts to propel artists to new heights, the level of competition is so high that creators have little room to expand efficiently. The oversupply of content and creators has annihilated the whole Web 2 universe. Though things are beginning to change, and there is light at the end of the tunnel. Blockchain, and in particular NFTs, are paving the way for content creators to enter the Web 3 universe. These tokens are powering the new creator economy of the future.  NFTs are giving content creators more autonomy on monetization and content rights, therefore enabling them to maximize their earnings. The Rising Trend Towards Creator NFTs NFTs have grown at a breakneck pace in the last year. According to DappRadar’s NFT marketplace tracker, the total NFT 30-day trading volume for the top five markets reached more than $2.8 billion in 2021. Although these tokens have been touted for a long time, the trend has been shifting every few months. At first, NFTs were dominated by sports highlights and trade cards, and GIF-animated artwork. Then came the trend for digital collectibles and this year NFT-linked craze has started with movies, music, fashion, virtual property, gaming assets, avatars, virtual pets… Even though there are exceptional discoveries in the ecosystem, one area of NFT utilities is slowly emerging which is the NFT powered creator economy. Content creators are the new audience that is now utilizing NFTs as a means to create and market their skills. From video to music, all these niche creators are now employing NFTs from their content plans. Solving Key Problems with Digital Content Digital content is the most consumed content type. Facebook, Instagram, and Twitter have made fortunes leveraging this idea of digitized content. Yet, there is one issue with this sort of content i.e, it can easily be replicated, especially on open platforms. In fact, this has been observed across all major content channels, with people plagiarizing the same content across the board. Presently, NFTs are solving these issues by identifying the source digital item, making a finite number of duplicates from that source, and uniquely tracking each replica. And, an account or wallet that owns a specific numbered replica will know how many other similar replicas were created, allowing it to estimate the relative rarity. For example, if there is replica #107 out of 5000 total generated, it implies only 4999 other people in the globe have a registered clone of the material. This allows improving content integrity even further. Furthermore, NFTs are resolving the secondary sales conundrum, in which third-party sellers have been traditionally able to profit from selling items and content at the expense of the original content providers. Ultimately, these tokens are solving every problem that a creator has been facing in the Web 2 world. In fact, many NFT projects are providing various utilities to create a better future for the creator economy. Some projects are going way beyond imagination providing creators all the support needed to grow their brand. MetaKawn is one such project creating a direct relationship between content creators and their audience. The platform is providing direct funding of the content creator’s projects from the community instead of relying on social media platforms and sponsorships along with lifetime royalties on copyrights ownership. To spice things up, the project will be based on Islamic societal ideals promoting equality, fairness, solidarity, and freedom of choice. It will promote a brotherly mindset by giving content producers tools and a network to aid one another, as well as by promoting them for sharing their creations. The project will make its debut with its Huffaz NFT collection, which will include utilities within its ecosystem. It will represent modern Muslims from different and various communities, with a primary focus on gender equality. NFT Powered Creator Economy is the Future NFTs are one of the greatest inventions and their lasting strength stems from the fact that it addresses problems for creators, users, and distributors alike by offering immutable provenance, real content ownership, and conditional constraints. By connecting content domains with crypto marketplaces, they are laying the groundwork for a thriving creator economy. NFTs are more likely to represent the future of content than a passing fad. The technology inspires content producers, improves networks and markets, and, most crucially, empowers customers and fan communities.

Data indicates the non-fungible token (NFT) marketplace Opensea has crossed $20 billion in all-time sales. The leading NFT marketplace has seen more than 1.2 million traders leverage the platform since the market’s inception in 2017. 1.2 Million Opensea Traders and $20 Billion in Sales Volume Metrics show that the NFT marketplace Opensea has surpassed $20 […]

Stock headwinds contrast with a lack of remaining short sellers to produce an array of forecasts on where Bitcoin price action may head next.

Following price consolidation on Tuesday, bitcoin prices rebounded on hump-day, as markets reacted to the news that Russia will regulate, and not ban, crypto. Bitcoin Bitcoin was marginally higher on Wednesday, as the world’s largest cryptocurrency received a boost from the news surrounding Russia. BTC/USD rose to an intraday high of $44,312.45 during today’s session, […]

Soon after the launch of the Stacks Bridge, more token and NFT transfers will be supported so users can benefit from the security of Bitcoin and the speed of other chains.

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