Sotheby's marketplace aims to distinguish itself by offering a curated selection of artists, carefully chosen by experts from the auction house.

Содержание:

• Sotheby's Auction House Introduces Secondary NFT Marketplace on the Blockchain
• Blur Unveils Perpetual NFT Lending Protocol
• Neobank Introduces Soulbound NFTs to Safeguard Wallet Holders' KYC Information
• Data Reveals Imbalance in NFT Markets as Sellers Take the Lead
• Metaverse division's $4 billion loss weighs down Meta's positive first quarter

Sotheby's Auction House Introduces Secondary NFT Marketplace on the Blockchain

In this week's newsletter, discover the latest updates in the world of nonfungible tokens (NFTs). Sotheby's auction house has recently unveiled a secondary marketplace exclusively dedicated to NFTs. Explore the exciting developments as Blur, a renowned marketplace, introduces a groundbreaking NFT lending protocol. Additionally, a neobank has introduced an innovative concept of soulbound NFTs, securing Know Your Customer (KYC) information. Shifting gears, we delve into the dominance of sellers in the NFT market, while Meta, formerly known as Facebook, strategically employs artificial intelligence endeavors to mitigate losses in its metaverse unit. Stay informed with the most recent happenings in the NFT space.

Blur Unveils Perpetual NFT Lending Protocol

Sotheby's has recently introduced an on-chain NFT marketplace. This platform enables users to purchase secondary NFTs using Ether ($1,811) or Polygon ($0.8661), with artist royalties being automatically paid based on their predetermined rate through smart contracts.

To set itself apart, the platform aims to provide a curated collection of artists carefully selected by experts from the auction house. On May 1st, Sotheby's announced that the platform would debut with artwork from 13 digital artists, such as XCOPY, Claire Silver, Tyler Hobbs, and Hackatao.

Neobank Introduces Soulbound NFTs to Safeguard Wallet Holders' KYC Information

Emerging NFT marketplace Blur has recently unveiled Blend, an everlasting lending protocol designed to support NFT collateral. Developed in collaboration with venture capital firm Paradigm, the platform aims to achieve "financialization at scale" while eliminating the need for oracle dependencies or expiries.

Blend facilitates the connection between lenders and borrowers using an off-chain offer protocol without any fees. The protocol enables borrowers to maintain indefinite borrowing positions until termination, providing flexibility for borrowers and lenders to extend the loan expiration time by a predetermined period.

Data Reveals Imbalance in NFT Markets as Sellers Take the Lead

Cogni, a neobank with coverage from the Federal Deposit Insurance Corporation, is introducing soulbound NFTs to store KYC information for its crypto wallet users. These unique NFTs are nontransferable and can only be decrypted by decentralized applications (DApps) with the owner's explicit permission. They are designed to fulfill KYC requirements in the United States and will be readily available to partnering DApps without any additional steps.

According to Archie Ravishankar, the founder of Cogni, their goal is to provide a crypto wallet that offers a user experience similar to traditional banking. Cogni also envisions the development of a DApp marketplace that can be easily accessed with just a few clicks, incorporating seamless KYC verification.

Metaverse division's $4 billion loss weighs down Meta's positive first quarter

Despite incurring losses of nearly $4 billion from its metaverse unit, Meta reported a robust profit of $5.7 billion in its earnings report. The company's artificial intelligence initiatives successfully offset the losses from its metaverse endeavors. Mark Zuckerberg stated that their AI efforts have yielded promising outcomes across the entire business.

Furthermore, the CEO of Meta emphasized that the company is continuously improving its efficiency in developing superior products. This positions them favorably to deliver long-term results.