Crypto News

nFLARE Technology Shines a Spotlight on a Unique Model of NFT Marketplaces

We are at a point in time where “NFT” is a household term. According to DappRadar, NFT market capitalization has passed $22 billion, a 22,000% growth compared to the same period a year ago. So as digital asset ownership seems to be reaching a peak, the question now is – what’s the next big thing for NFTs? In the immediate future, the leasing and borrowing of NFTs as a source for generating passive income for owners and gaining added value for borrowers will take the center stage in the industry. NFT leasing has been already starting to gain traction, mainly via closed environment scholarships on P2E games such as Axie or virtual land within specific metaworlds such as The Sandbox. These initial examples of NFT leasing functionalities, pushed by some of the top crypto projects in the industry, help solidify and direct the rise of an upcoming robust economy revolving around broader NFT use cases and utilities. While these closed-environment NFT leasing protocols introduce a viable business model that provides appealing passive revenue streams, there is a bigger picture and a much higher potential for massive gains generated through leasing of NFT ownership rights, and this is where nFLARE DAO enters the frame: a self-governed marketplace for NFT asset rentals. A ®evolutionary new model of NFT marketplaces As social creatures, humans care about where they stand in the social hierarchy and how others perceive them, so when you give someone the impression that you have a lot of money, most likely they will have a different opinion of you. In the real world, some individuals hire a Ferrari for the weekend so that they can appear more affluent, which in turn opens opportunities and broadens their connections. On social media, this form of “peacocking” is very common. People pay a lot to have a high-priced NFT as their profile picture for a week, especially now that Twitter NFT validation has made it more relevant than ever before, or simply as a marketing ploy to boost the credibility of their commercial profile. But if we step aside the digital social ladder, the pure financial logic of making leasing NFT rights available on a large scale is outstanding in its potential for generating value, financial or otherwise, and has a wide reach across niches. The use cases Unlike most assets in crypto that don’t fulfill a real utility, if used as intended, NFTs offer real valuable use cases for gamers, investors, content creators/artists, and of course, traders looking to generate passive income deriving from their specific niche of interest or work.  Some of the examples of NFT leasing we will see include: In-game leveled up characters, assets, gear, and future skins Metaverse real estate investments Copyrighted collectibles available as online and offline merchandise Copyrighted content that can be used as creative in audio and video for royalties or as consignment inventory in galleries and exhibitions DeFi instruments Limited access to venues Gaming Play-to-Earn (P2E) gaming is and will be a vertical operating independently of market sentiment, as it doesn’t matter if the crypto market as a whole is bullish or bearish, gamers will do what they do – play games and earn rewards while doing it. Making this niche of the industry, which is already huge, an easy target for borrowing NFTs in P2E gaming. Some stats to understand the market share: There are roughly 3.1 billion gamers across the globe, with around 1.42 billion in Asia, 383 million in Latin America, 261 million in North America, and approximately 668 million across Europe. Oh, and the Gaming industry revenue reached $175.8 billion in 2021. Today, there are farms where NFT gaming characters and gear are professionally built, leveled up, and sold. The problem is that the owner of the NFT is losing on the appreciation value of the asset in the long run. Leasing NFTs on the other hand, which also function as a multiplier of the potential yield on the original investment, solves this problem and introduces a win-win scenario for both the lessor and the lessee of the NFT asset. Through NFT leasing, gamers, as borrowers, can rent NFTs they can’t afford to buy or that are already leveled-up and use them to access restricted areas or as tools for boosting their in-game rewards. Lenders (the NFT owners leasing out the asset) will receive a cut, through a revenue-share model, of whatever cryptocurrency the borrower earns while playing, similar to scholarships, but across different projects and different assets. Looking to collect royalties? NFTs as authenticated reflections of artwork are already appreciated by galleries, museums, and exhibition venues. Undoubtedly, the next step in the adoption of NFT backed artwork will revolve around individuals leasing out their copyrighted NFT content (visual artwork, audio pieces, trending characters, and collectibles) as merchandise across commerce and ecommerce channels, dividing the profits from the sale between the lender of the NFT and the borrower. Alternatively, artists can generate passive income by leasing the rights to their NFT backed content to creators and KOLs in exchange for royalties paid from using the assets in videos and audio across social channels.   The real estate boom The possibilities of generating revenue from NFTs in real use case applications and not only in the current speculative nature of chasing price pumps are growing independently of market trends. With mega-corporations such as Meta (Facebook) and Microsoft heavily investing in the future of the metaverse and driving its adoption into their massive user bases, demand for virtual land will only increase. As smaller companies start to follow large corporations into this space, seeking virtual prime location real estate for marketing, savvy investors (in crypto, finance, and real estate) that have already started to understand that the demand for leasing virtual real estate will exponentially shoot in the coming years, will identify lucrative investment opportunities in the form of virtual real estate for commercial leasing purposes, generating high yields. As people spend more time online, more organizations will draw into this space, and much like real-world properties, virtual real estate is and will be sought after for its value in online promotions, as prime location HQs by corporations, and as priceless land for eCommerce by enterprises varying from VR casinos to technology events, online shops, and everything in between. A hybrid of Technology & Community nFLARE is not “another NFT marketplace”. It’s not another way for whales to practice wash trading or about chasing hype. nFLARE is about commercializing actual use-cases of NFTs as tools for generating a passive income for lessors and added value to borrowers, or in other words – it’s about opening up a secondary economy in the NFT industry. P2E, DeFi, copyrights, virtual real estate, and open access to restricted events are just a few of the types of utilities that will see increased demand through opening up the NFT space to multiple leasing possibilities. As the functionalities of NFT leasing become more widely available, the value of NFT projects will soar and the assets’ lifetime value will rise considerably through generating fixed income from leasing fees, which will increase as the value of the NFT itself is leveled up over time. While the development of collateralized smart contracts or an uncollateralized NFT leasing multisig wallet is fairly straightforward, the real power driving a utility project is its community and the way it harnesses its members’ drive and reaches to propel the project forward. This is the reason nFLARE is built up as a DAO-managed marketplace, rather than a centralized one, combining modern shared-rewards tokenomics to incentivize members. NFT leasing is projected to be the next big thing in the crypto space. A DAO harnessing the power of a vast community to influence the marketplace itself and how it interacts with third-party metaverse initiatives will set the standard for a next-generation model of community-managed NFT marketplaces.  

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India’s CoinDCX Concludes $135 Million Funding at $2.2 Billion Valuation

India Just Got Its First Crypto Unicorn

The latest valuation is double from $1.1 billion in August 2021. Now, CoinDCX is the highest-valued crypto firm in India. With 10 million users, it’s also India’s first crypto unicorn. Indian cryptocurrency exchange CoinDCX on Tuesday closed a $135 million Series D funding round led by Pantera and Steadview. The new investments value the startup […]

Crypto News

Only In Crypto: A Pastry Denounces Coinbase’s Listing Process

Crypto exchange Coinbase has generated controversy due to its listing process. The platform recently posted a list of possible projects to include which, according to pseudonym user PastryETH, makes some wonder if Coinbase is “willfully ignorant, or intentionally deceiving?”. Related Reading | Arthur Hayes’ Crystal Ball Predicts: Bitcoin And Ethereum To See Carnage In June Some of the projects were created before 2020 and have a dubious reputation. Amongst these tokens is Big Data Protocol (BDP), Pastry said. This project managed to attract over $6 billion in total value locked (TVL) and generate a lot of hype. This allowed BDP whales to “dump” their tokens on retail investors, as discovered by Igor Igamberdiev, The Block’s director of research. As Pastry noted: These addresses farmed massive amounts of $BDP and dumped it on LPs in BDP’s Pool2 which rewarded users with $bAlpha for providing liquidity to BDP/ETH. It was exit liquidity for whales. The BDP token feel from $13 to $3, while bAlpha dumped from $25k to $5k. Second on the list is BOTTO which, the pseudonym user said, has a market cap of around $4 million. Therefore, could see high volatility and an illiquid market cap to the detriment of its potential traders. Pastry asked the following about Coinbase’s prospects: Really, Coinbase? Are you not aware of the risks you expose thousands of traders to  by listing a project that is so small and illiquid? Coinbase does $327 BILLION in quarterly trading volume, yet they want to list a project with a market cap of $4m. Irresponsible. The same goes for $KROMATIK another of Coinbase’s potential crypto to add to its platform. The token has a small market of under $10 million. Pastry questioned the rise in its trading volume just days before Coinbase’s announcement. Is Coinbase Purposely Listing “Crypto Scams”? MONA and PMON made the list. The former has a small market cap with a daily trading volume of around $10,000 which, Pastry emphasized, could be hurtful for the users. On the other hand, PMON is a project dubbed “one of the largest marketing failures this bull-run, by Zachxbt a popular investigator. Similar to BDP, this token was used by insiders to dump on retail investors, according to Pastry. On the list, there was also RAC a token with a $0 trading volume, and Student Coin (STC) a project with a similar trading volume. The list is comprised of mostly unknown crypto, according to the pseudonym user, with high probabilities of hurting the users due to low trading volume or illiquid markets. Responding to the question of whether the exchange is listing out of “ignorance or malice”, Pastry said, he referred to evidence of a potential Coinbase insider purchasing large amounts of the tokens before the listing announcements. Presented by influencer Cobie. Found an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl — Cobie (@cobie) April 12, 2022 Pastry concluded: Coinbase, If you want to maintain what little relevancy you have left, I recommend you hire a new listing department ASAP (direct messages are open, by the way). You are listing utter trash and subjecting thousands of your users to unnecessary risk in the process. Do better. Related Reading | TA: Ethereum Steadies Above $3K, Why Upsides Could be Capped At the time of writing, ETH trades at $3,000 with a 1.4% profit in the last hour.

Bitcoin Crypto News

Regulatory Pressure Forces Coinbase To Suspend Crypto Payments In India

On Sunday, three days after adding support for the popular Unified Payments Interface payment instrument in India, Coinbase – the largest US-based cryptocurrency exchange – removed the feature to purchase bitcoin using the system in India. UPI is an instant real-time payment system designed by India’s National Payment Corporation to enable interbank transactions via mobile phone on Coinbase’s […]

Bitcoin Crypto News

Zuck What? Meta Is Reportedly Planning To Create A Digital Token Nicknamed After Its CEO

Meta Platforms is preparing to integrate cryptocurrencies into its family of apps, with the goal of using them to reward creators and to facilitate lending and other financial activities. The Financial Times reported on Wednesday that Meta is considering creating “Zuck Bucks,” a virtual currency that consumers can use across its apps, as the British […]