This is NFT Weekly Wrap-Up from Oxalus Insight, bringing you the latest news so you won’t miss anything.
Now let’s dive in 👇
It is no surprise that Instagram, the most powerful web2 social platform, continues to support NFT strongly. “You will soon be able to create, buy and sell digital collectibles directly on Instagram, starting with Polygon”, said the company on Twitter. These new features are being tested with a few creators first. Additionally, OpenSea, Solana, and Phantom Wallet are now integrated.
Additionally, OpenSea, Solana, and Phantom Wallet are now integrated. You can now view and share Solana NFTs alongside Ethereum and Polygon.
NFT is now getting strong support from many powerful web2 platforms, including Twitter, Reddit, Facebook, and Instagram. The future of NFT will be interesting to see.
Art Gobblers, an NFT project backed by Paradigm, gained a lot of attention last week for its innovative concept. It’s called Art Gobblers because it “eats” art. Gobblers produce Goo tokens, which are used to create blank art pages. It can be fed to Gobblers for its “belly gallery” or sold as 1/1 NFTs.
During the first 24 hours, it traded over 8,000 ETH ($12.5 million) on the platform, quickly climbing to the top of OpenSea’s Top 10 projects. Art Gobblers’ popularity helped Blur surpass OpenSea volume for the first time ever.
Read here for more details: Art Gobblers NFTs Steal The Spotlight
Copies are a common issue in the NFT industry. When a certain collection gains attention, scammers may copy the imagery, sometimes slightly changing it, in order to trick people into buying.
By launching a new copymint detection system, Opensea tries to prevent this from happening. They posted a video on Twitter to explain how the system works. After detecting the duplicate images, Opensea deleted the listing immediately, even when they were flipped. Hopefully, this new technology will lead to fewer NFT copycats in the future.
“It’s clear that many creators want the ability to enforce fees on-chain & we believe that choice should be theirs–not a marketplace’s–to make.” the company said on Twitter. “So we’re building tools we hope will balance the scales by putting more power in creators’ hands to control their business model.”
On Tuesday Nov 8 at 12PM ET, the tool will be launched for only new collections. Existing collections wanting these features should wait until December at least.
This is all for this week. If you want more, stay tuned to Oxalus Insights.
See you next week!
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