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Pi NFT: The First NFT Marketplace On Pi Network

Pi NFT: The First NFT Marketplace On Pi Network

by | Apr 7, 2023 | Alt Coin, Altcoin News, Altcoin101, Market News, NFT101, NFTs

Non-fungible tokens (NFTs) are indivisible digital assets kept on a distributed ledger. They have grown in prominence in recent years as a means of verifying the ownership and originality of digital assets, and they can represent everything from digital artwork to collectibles to virtual real estate.
If Pi NFT is indeed a platform for trading NFTs on the Pi Network blockchain, it might give makers of digital material a new way to make money, while also giving collectors a chance to get their hands on rare digital commodities. In conclusion, NFTs are an exciting new technology that has the potential to profoundly alter our understanding of property rights and monetary worth in the digital realm. Whether or not they will be effective in the long run is unknown, as is the case with any new technology. A variety of factors, including as the Pi Network’s popularity and the desire of users to buy NFTs, would determine whether or not such a market would be successful.

An Online Shopping Mall Built on the Pi Chain

One of the most popular Dapps on the Pi Network is the Pi Chain Mall (PCM). With PCM, a global community of users can purchase, sell, and trade products and services using Pi tokens as payment. The Pi Chain Shopping Center is a breeze to use. After creating a profile and connecting it to their Pi Wallet, users can begin transacting with one another. According to the PCM payments smart contract on the Pi Blockexplorer, users are constantly making transactions and conducting business. While full KYC is not necessary to join Pi Chain Mall at this time, this will change as the Pi Network migrates to the open mainnet. The online market is hosted on the Pi Network’s private mainnet. As a result, shoppers at the Pi Chain Mall are restricted in some ways.
Throughout Pi Network’s infancy, the Pi Chain Mall has been expanding. PCM took first place at the very first Pi Network Hackathon in October of 2021.

Members of the PCM Network can be found all across the world, from China to Nigeria. Business app PCM came in second place at the Hackathon, only behind a marketplace for finding and hiring new employees called Pi Workforce Pool. The PCM group just tweeted their accomplishments to the world. Pi tokens cannot be exchanged for fiat currency by Pi Network users. Currently, the only currency that can be bought or sold within the app is Pi itself.
Every minute, there are transactions on the blockchain. According to the daily volume of transactions, we also have the largest user base of any Pi application,” Edwin, PCM World Community Manager, told BSC News. Despite the fact that “most of the pioneers haven’t get KYCed” and “we are still on enclosed mainnet.” A lot of the Pi Ecosystem’s projects have solid rapport with the Pi Chain Mall crew. The group is in constant contact with Pi Core Team members and can suggest updates to the Pi Network as a whole.

As it stands, PCM users can only make Pi by selling items. But, they are unable to cash out or otherwise use their Pi earnings. “This restricts the availability of Pi on our platform,” Edwin, PCM’s Global Community Manager, said. But PCM will allow withdrawals beginning next month. Users can move their PCM holdings to their pi mainnet wallet via the PCM app. To explain, Pi Network is a mobile blockchain mining project with the goal of bringing the bitcoin revolution to everyone. A group of Stanford University Ph.D. candidates created the project and developed a blockchain mining algorithm suitable for use on mobile devices. For us, this will be an important and landmark event as we usher in a new era in the evolution of pi’s ecological applications. As a result of increased circulation, the value of Pi will increase.

Mobile and desktop browser users can shop at the Pi Chain Mall. The Pi Network App and the Pi Browser both provide PCM access. After years of development, a hackathon, and the creation of two functional Pi blockchain applications, Pi Network is nearing completion of the last stages of transfer to the mainnet.

NFT Trading Reaches Record High of $2B in February, Fueled by Blur

NFT Trading Reaches Record High of $2B in February, Fueled by Blur

by | Mar 20, 2023 | Market News, NFT101, NFTs

A brief overview of NFT trading and the recent surge in trading volumes

Non-fungible tokens (NFTs) have created a buzz in blockchain technology and cryptocurrency. These unique digital assets have gained significant popularity and interest among investors and collectors alike. NFTs allow unique digital assets to be bought and sold, with ownership and authenticity tracked on a blockchain. In recent months, NFT trading volumes have surged, with February 2022 seeing a record high of $2 billion in trading volumes. One platform that has contributed to this surge in trading volumes is Blur, a marketplace for buying and selling NFTs.

The role that Blur has played in this surge and its approach to NFT trading

Blur, a leading platform for NFT trading, has played a significant role in the record-breaking surge of NFT trading volumes in February 2023. The company’s innovative approach to NFT trading has captured the attention of both seasoned and novice investors, leading to a surge in interest and activity on its platform.

Founded in 2021, Blur is an NFT marketplace that has quickly gained popularity for its user-friendly platform and wide range of trading options. The primary purpose of this organization is to provide fair opportunities for everyone to get involved in and make the most of the NFT market. It seeks to ensure that NFTs are available to all, regardless of their background.

Also Read: NFT Research Instrument NFT Inspect is closing down

By encouraging inclusivity and diversity, the organization seeks to ensure everyone has a fair opportunity to participate in the NFT space. The organization is committed to making NFTs more accessible to a wider audience to increase their reach and impact on a global scale. Blur has achieved this by removing the technical barriers that have traditionally made NFT trading difficult for non-technical users, such as complicated wallet setups and high gas fees.

One key feature that sets Blur apart from other NFT marketplaces is its unique approach to fractionalized ownership. Blur allows users to purchase fractional ownership of high-value NFTs, enabling investors to own a share of a valuable asset they might not have been able to afford otherwise. It has helped to attract new investors to the NFT space and has contributed to the surge in trading volumes.

Also Read: From Digital Art to Royalties: Exploring the Impact of NFT Marketplaces

In addition to its user-friendly platform and innovative approach to fractionalized ownership, Blur has distinguished itself through its partnerships with major artists and brands. These partnerships have helped to drive interest and demand for NFTs on the platform and have contributed to the surge in trading volumes.

Overall, Blur’s approach to NFT trading has been instrumental in the surge in trading volumes seen in February 2023. The company’s user-friendly platform, fractionalized ownership options, and partnerships with major artists and brands have helped to make NFTs more accessible and attractive to a wider audience, leading to record-breaking trading volumes on its platform.

The potential for continued growth in the NFT market and how Blur and other companies are positioning themselves to capitalize on this growth

The NFT market has been growing at an unprecedented pace and shows no signs of slowing down. With trading volumes hitting a record high of $2 billion in February, it is clear that investors and collectors are flocking to the NFT space in droves.

The NFT market has been experiencing significant growth lately, which can be attributed to various factors, such as a surge in mainstream acceptance, the availability of user-friendly platforms, and the rise of a vibrant community of NFT enthusiasts. As more artists, musicians, and celebrities embrace NFTs to monetize their work and engage with fans, the market is only expected to grow.

Companies like Blur are positioning themselves to capitalize on this growth by offering innovative and user-friendly platforms for buying, selling, and trading NFTs. Blur, in particular, has distinguished itself with its focus on music-related NFTs, partnering with artists and labels to create unique and valuable digital collectibles.

But it’s not just about the platforms themselves. Companies in the NFT space must also stay ahead of the curve regarding technological innovation, security, and regulatory compliance. As the NFT market matures and attracts more mainstream attention, these factors will become increasingly important.

One area of particular interest is the integration of NFTs with other DeFi products and services. As more use cases for NFTs are discovered, the potential for continued growth in the market becomes even more exciting.

In conclusion, the NFT market is experiencing explosive growth, and companies like Blur are at the forefront of this trend. These companies are leveraging innovation, user experience, and compliance to take advantage of the NFT market’s growth, which is continuing to evolve and open up new possibilities. They are well-positioned to capitalize on the NFT market’s increasing potential with their cutting-edge solutions.

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From Digital Art to Royalties: Exploring the Impact of NFT Marketplaces

From Digital Art to Royalties: Exploring the Impact of NFT Marketplaces

by | Mar 20, 2023 | Market News, NFT101, NFTs

A brief overview of NFTs and their growing popularity

NFTs, or non-fungible tokens, are unique digital assets stored on a blockchain, providing proof of ownership and scarcity. They can represent anything from art to music to video game items. These non-fungible tokens provide a fresh and innovative avenue for creators to generate revenue from their digital creations while enabling collectors to possess a one-of-a-kind and exclusive digital assets. NFTs have also generated headlines due to their high prices, with some selling for millions.

Creator royalties and their importance

Creator royalties refer to the percentage of revenue paid to the creator of an artwork or other creative work each time it is sold or resold. In the traditional art market, creator royalties are often not provided, meaning an artist may only receive compensation for their work at the time of sale.

In the context of NFT marketplaces, creator royalties are becoming increasingly important to provide more equitable compensation for artists. When an NFT is sold or resold on a marketplace, a percentage of the sale price is automatically paid to the creator, providing ongoing revenue for their work. It can help to address the issue of artists needing to receive a fair share of the revenue generated by the resale of their work, as well as incentivizing artists to create and sell more work on NFT marketplaces.

Also Read: Open Sea for Creators: The Future of NFT Marketplaces

Furthermore, creator royalties can also help to address issues of authenticity and provenance in the NFT market. Ensuring that creators are compensated for their work’s sale, and resale can help incentivize artists to create high-quality and unique works while also providing a more secure and trustworthy marketplace for buyers and collectors.

How NFT marketplaces are changing the digital art landscape?

NFT marketplaces are revolutionizing the digital art landscape in many ways. One of the biggest changes is the ability for artists to sell their digital art as unique, one-of-a-kind items rather than just a copy that can be easily duplicated or pirated. It provides a new level of authenticity and scarcity for digital art, which has traditionally struggled to be recognized as legitimate art.

In addition, NFT marketplaces are providing new opportunities for artists to monetize their work. In the past, digital art has often been given away for free or sold for a fraction of what traditional art would command. However, with the emergence of NFT marketplaces, artists can now sell their work for much higher prices and receive royalties on future sales.

Also Read: NFT Trading Reaches Record High of $2B in February, Fueled by Blur

NFT marketplaces are also making it easier for collectors to invest in digital art. Previously, investing in digital art was often seen as risky due to the ease of duplication and piracy.

Furthermore, NFT marketplaces enable new forms of collaboration between artists and collectors. Artists can now create NFTs that allow collectors to own a portion of the underlying art piece, similar to owning a share in a company. It provides a new way for artists to raise funds and for collectors to invest in art, they believe in.

Overall, NFT marketplaces are changing the digital art landscape in a significant way. They are providing new opportunities for artists to monetize their work, making it easier for collectors to invest in digital art and enabling new forms of collaboration between artists and collectors. It will be interesting to see how NFT marketplaces continue to evolve and shape the future of the art industry.

The impact of NFT marketplaces on the art industry and the potential for creator royalties to provide more equitable compensation for artists

In conclusion, NFT marketplaces are changing how digital art is valued and distributed, and they can potentially revolutionize the art industry as a whole. Creator royalties allow artists to receive more equitable compensation for their work. NFT marketplaces offer a way for artists to sell their work directly to collectors without intermediaries. As the industry continues to evolve, it will be interesting to see how NFT marketplaces and creator royalties shape the art market’s future.

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Open Sea for Creators: The Future of NFT Marketplaces

Open Sea for Creators: The Future of NFT Marketplaces

by | Mar 19, 2023 | Market News, NFT101, NFTs

What are NFTs and NFT marketplaces?

Distinct from other digital assets, non-fungible tokens are unique and indivisible entities that cannot be replicated or subdivided. They are commonly used to represent digital art, collectibles, gaming assets, and other digital items and are authenticated and stored on blockchain technology.

NFT marketplaces are digital platforms where users can buy and sell NFTs. These marketplaces allow users to search for, browse, and purchase NFTs and provide information about the NFTs they are interested in. Additionally, they often feature a variety of tools and features that facilitate the buying and selling of NFTs.

Importance of NFT marketplaces for creators. Explain in a very organized manner

NFT marketplaces have emerged as game-changers in the digital art industry, providing a platform for creators to showcase their work and monetize it securely and efficiently. Here are some of the reasons why NFT marketplaces are important for creators:

⦁ Monetization: NFT marketplaces allow creators to monetize their digital artwork by selling them as unique digital assets. It provides a new revenue stream for creators struggling to monetize their digital creations.

⦁ Transparency and Ownership: NFT marketplaces use blockchain technology to provide a transparent and secure ownership and transaction history record for each NFT. It helps prevent fraud and ensures creators receive fair compensation for their work.

⦁ Creative Freedom: NFT marketplaces allow creators complete control over their digital creations. Creators can set their terms for selling their NFTs, and they can retain ownership and control over their artwork even after it is sold.

⦁ Exposure: NFT marketplaces provide a global platform for creators to showcase their work to a large audience. It can lead to increased exposure and recognition for the creator, as well as potential collaborations and commissions.

⦁ Secondary Sales: NFT marketplaces also allow for secondary sales of NFTs, meaning creators can continue earning royalties each time their NFT is resold in the marketplace.

The rise of creator royalties in NFT marketplaces

NFTs, or non-fungible tokens, have been making headlines lately for their ability to sell unique digital art and collectibles for millions of dollars. One aspect of NFTs that has recently gained traction is the concept of creator royalties.

Traditionally, artists and creators have struggled to earn a living from their digital works, as they can easily be replicated and distributed without proper compensation. However, with blockchain technology and NFTs, creators can receive royalties every time their NFT is resold on the secondary market.

Also Read: DigiDaigaku NFTs Price Rises After Super Bowl Ad

It means that even if an artist initially sells their NFT for a relatively low price, they can continue to earn money as the NFT is bought and sold by others. For instance, if an artist sells an NFT for $1,000 and adds a 10% creator fee, the artist will receive $100 each time the NFT is resold for a higher price.

This concept has already been implemented in several NFT marketplaces, including OpenSea and SuperRare. In addition to providing a new revenue stream for creators, it also incentivizes them to create high-quality, desirable NFTs that will increase in value over time.

However, there are still some challenges to implementing creator royalties in NFT marketplaces. One of the biggest issues is ensuring that royalties are paid correctly and fairly, as NFT transactions can happen quickly and frequently on the blockchain. Some marketplaces are working on solutions, such as automatically calculating and distributing royalties through smart contracts.

Overall, the rise of creator royalties in NFT marketplaces represents an exciting opportunity for artists and creators to monetize their digital works and build sustainable careers in the blockchain space. As the industry evolves, seeing how this concept develops and impacts the wider world of art and commerce will be interesting.

The role of creator royalties in shaping the future of NFT marketplaces

NFTs, or non-fungible tokens, have overtaken the art world and beyond in recent years. They represent a unique digital asset, verified on a blockchain network, and can be sold and traded like any other asset. NFT marketplaces have sprung up to cater to the demand for these tokens, offering a platform for creators to sell their digital art and collectibles.

Also Read: When NFTs Become More Than Just JPEGS

One of the key concerns for creators in the NFT space is the issue of royalties. Unlike traditional art sales, where artists receive a percentage of the sale price each time their work is sold, NFTs have no built-in mechanism for creator royalties.

However, this is starting to change. Some NFT marketplaces are implementing creator royalty systems, which allow creators to receive a percentage of the sale price each time their NFT is resold.

Implementing creator royalties is an important step toward making NFT marketplaces more equitable and sustainable for creators. It also has the potential to attract more creators to the space, knowing that they will be fairly compensated for their work in the long term.

One platform leading the way in creator royalties is OpenSea, which recently announced a new royalty system for creators. Under this system, creators can set a percentage fee for their NFTs, which will be automatically paid out each time the token is resold. Other platforms like Nifty Gateway and SuperRare also have similar systems.

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