WEEKLY NFT MARKET UPDATE

STANFORD RESEARCHERS PROTOTYPE REVERSIBLE TOKENS

With incidents of NFT and crypto theft plaguing the space, researchers from Stanford University came up with a potential solution. Researcher Kaili Wang revealed a prototype for a reversible token standard in a tweet, which quickly gathered enormous impressions.

Wang shared with the public an article defining the prototyped ERC-20R/721R token types. The proposition states that these new token types are not meant to replace ERC-20 tokens, as they will make the original type reversible. It doesn’t defeat the purpose of blockchain either, as it only allows contesting thefts or even possible restoration of assets subject to bad actions in a short time window post transaction. NFT owners can report malicious transactions to a set of judges with the help of a governance contract. These judges can then either vote to freeze or reverse the transaction with enough evidence from both parties in context.

CROSS-POSTING AND SHARING OF NFT ON INSTAGRAM IS NOW LIVE

Finally, Facebook and Instagram users across 100 countries can now connect their wallets and share their NFTs. The feature went live last Thursday, allowing users to tag creators and collectors and cross-post NFTs between the two platforms for free.

Initially, the feature was only available to select users in the US. The international expansion reached the Middle East, Asia-Pacific, the Americas, and Africa. Supported wallets as of this moment are MetaMask, Rainbow, Coinbase Wallet, Trust Wallet, and Dapper Wallet. At the same time, the blockchains supported are Ethereum, Polygon, and Flow.

Finally, Facebook and Instagram users across 100 countries can now connect their wallets and share their NFTs. The feature went live last Thursday, allowing users to tag creators and collectors and cross-post NFTs between the two platforms for free.

OPTIMISM IS NOW ON OPENSEA

OpenSea just keeps on expanding its arsenal of supported blockchains. Just over two weeks ago, the largest NFT marketplace added support for Arbitrum and now, Optimism is added to its roster. With the recent addition, the marketplace currently caters to 6 blockchains in total, including Ethereum, Solana, Polygon, Klytan, Arbitrum, and Optimism.

Optimism’s inclusion means that NFTs living in the said blockchain are now available on OpenSea. This includes some of the most popular projects under Optimism: Apetimism and Bored Town. Just like what the marketplace did with Arbitrum, OpenSea encourages creators who use Optimism to set up their own creator fees, best from day one.

UNIVERSAL STUDIO’S HALLOWEEN NFT SCAVENGER HUNT

Get ready for something big this spooky season. Universal Studios is about to host an NFT Scavenger hunt which will take place at the studio’s theme parks around California and Florida on October 31, 2022.

Visitors participating in the hunt will be able to redeem NFTs. 7 QR codes will be dispersed across each theme park, and those lucky enough to find them all are set to get a special NFT, including exclusive perks. Universal Studios is not new to hosting events of such kind, but with NFTs coming into the picture, this time can introduce a new kind of fun and excitement.

GOAT NFTS EXTEND SUPPORT TO STREET CHILDREN

The world is about to see another display of amazing football talents as Street Child United(SCU), an organization known for its mission to not let underprivileged children be left behind, is getting ready for the Street Child World Cup which will set off on October 5. The annual event is one way for SCU to raise funds for its cause. This year, the organization extends its mediums on acquiring support for the better through the selling of GOAT NFTs.

Minted in the Polygon blockchain, one football team-themed livestock NFT per each of the children will result in 280 NFTs in total. The ‘Greatest of All Time’ NFTs will retail at $100 and can be purchased with crypto, stablecoins, and fiat. 100% of the funds will go to the cause when $MATIC is used for payment. At the same time, a small transaction fee will be deducted from the total amount if other alternative payment methods are used. All amount raised will go to each team and then towards three core areas of concern — education, healthcare, and legal representation.

MASTERCARD RELEASES NFT-THEMED DEBIT CARDS

As random as it may seem, cardholders can now put their favorite NFT avatars on their Mastercard debit cards. The financial services company partnered with European CX, Hi, to present the recently launched feature to the public.

Currently, holders of Cryptopunks, BAYC, Moonbirds, Goblintown, and Azuki are all qualified to personalize their debit cards as long as the designs meet Mastercard’s standards and the NFTs pass verification. With all the excitement brewing for Mastercard cardholders, sadly, the feature is only available to members in the UK and in 1 of 25 European Economic Areas. Who knows, though? After all, it’s just the start. It’s not hard to see that every Mastercard member worldwide could eventually have the option to get their debit cards with their NFT avatars in the future.