Features / 303 posts found
The Best Way for Writers to Join the NFT Space? Digital Merchandise
Much has been said about how NFTs have given artists and musicians alike novel avenues to sustain themselves financially, as well as connect with fans and patrons. But what about writers? In November 2021, legendary director and screenwriter Quentin Tarantino tried entering the NFT space by auctioning off images of handwritten pages from his original Pulp Fiction screenplay. Miramax quickly nixed Tarantino’s plans, claiming copyright ownership of the film’s screenplay and pursuing legal actions. So, what’s the best way for a published author to sell their work as an NFT collection (you know, without getting sued)? The answer is surprisingly […]
Next Up: 5 Ones to Watch in May 2022
In 2021, we witnessed the birth of a new creator economy on the blockchain. Since NFTs took center stage, artists have achieved NFT superstardom, billion-dollar brands have been forged in the span of a few months, and lives have been utterly transformed time and time again. Yet, the most inspiring thing about the NFT space is the number of artists of all creeds and mediums who have found community and support by embracing this technology. In keeping with our mission to empower creators, we present Next Up — our monthly franchise dedicated to showcasing rising artists. In our May edition, […]
NFTs and Charity: What to Know About Deductions and Tax Hurdles
For many, tax season is finally behind us. While it’s nice to take a breath, it’s also never too late to start thinking about next year’s filings — especially if you continue to invest in NFTs and crypto. Whether you’re in that group, or filed for an extension and still have time to submit your information, this guide will help you take a closer look at your crypto and NFT investments, including the potential tax implications associated with capital gains, losses, and charitable crypto donations. NFT purchases and subsequent sales Joe Biden’s $1.2 trillion infrastructure bill, which goes into effect […]
We Need to Talk About the Mental Health Crisis in the NFT Community
All good comes with bad, and the rise of web3 has brought a tsunami of both. In many ways, the last two years of web3 have been incredible. We’ve had amazing stories of rags to riches come ups, people pulling themselves and their families out of crippling debt, and others making a significant impact in their communities. Most importantly, we’ve seen a pivotal power shift between individuals and centralized corporations, placing more wealth and freedom into the hands of talented creators than ever before. But there’s also a dark side that we’d be remiss to neglect. The NFT industry is […]
Fractional NFTs: The Good, the Bad, and the Weird
NFTs can be difficult to understand. Blockchain tech itself makes for some pretty dense reading material after all, and the idea of digital asset ownership — especially when art is concerned — definitely doesn’t help simplify things. But if there was any subsection of NFTs that should (in theory) make more sense than any other, that would surely be fractional NFTs. Fractional ownership is an investment approach that has been around for decades. With fractional ownership, the cost of an asset is split up into fractions and is shared between individual investors — a.k.a shareholders. Of course, fractional ownership can […]
How NFTs Are Helping Create a More Just and Equitable World
While we often talk about the vast amounts of money some NFTs sell for, not all auctions are about generating profit for profits’ sake. Some serve as fundraisers for all sorts of causes — from humanitarian efforts for the ongoing Ukraine-Russia conflict to off-kilter initiatives to help take on medical debts in the US. Joining the list of NFT auctions for noble causes are ConfrontART and mintNFT. Together, their SEEINJUSTICE event will raise funds for three charities focused on combating injustice. Visual art meets social justice Founded by Andrew Cohen and Lindsay Eshelman in 2020, ConfrontART promotes diversity and education […]
$34M Locked in a Smart Contract. Was the Akutars Exploit Avoidable?
Last Friday (April 22), Micah Johnson’s anticipated Akutars project launched to great fanfare. Unfortunately, things went sideways quickly. Soon after collectors began flooding the website to take part in the drop, an issue with the project’s smart contract caused a fiasco that ultimately resulted in the loss of a staggering $34 million. While events have since been set in motion to continue the awaited drop and potentially recoup losses, the launch is already being seen as a cautionary tale — one that has greater implications on the NFT ecosystem at large. A preview of Akutars NFTs What happened with Akutars? […]
NFT Marketplaces Are Centralized, and It’s a Real Problem
Minting often happens on an NFT community’s webpage. However, many projects direct members to NFT marketplaces for secondary sales, which happen almost exclusively on marketplaces like OpenSea. There’s nothing stopping NFT communities (or users) from being de-platformed by these major NFT marketplaces. While the blockchain is decentralized, Opensea, Coinbase, and Metamask — for example — are highly centralized. Cryptopunks, Meebits, and Solana Monkey Business are some of the few projects that host their own marketplaces, but Opensea is still the largest and most popular NFT marketplace — it’s recorded $22.73 billion in NFT sales thanks to its 1.3 million buyers. […]
People Are Using NFTs to Create Literal Empires
A business empire is often defined as a large commercial organization or group of businesses owned or controlled by one person or entity. These organizations are powerful and governed by a centralized authority. For example, think of the Big Tech behemoths of the Web2 world – Meta, Amazon, and Google. With much of the core ethos of Web3 based around decentralization and community control, it’s counterintuitive to describe any Web3 organization, no matter the size, as an empire. But it seems that this is exactly what some Web3 organizations are becoming. Except that, instead of immediately turning to institutional funding […]
Moonbirds: A Perfect Storm That Highlights the State of the NFT Ecosystem
Things move fast in the NFT space. Although the ecosystem as a whole does experience periods of stagnancy, for the most part, trading NFTs has become a “blink and you’ll miss it” sort of game. Just in case that wasn’t clear already, a new project called Moonbirds popped up recently, taking the NFT market by storm and reminding traders of the difference a single day can make. A generative, large-scale avatar NFT endeavor, Moonbirds shocked the NFT ecosystem by quickly becoming one of the highest-grossing NFT collections of all time – and it’s only been around for less than a […]