There’s no denying that NFTs have taken the world by storm. But it may seem that this technology is simply a fad and will soon be forgotten. That’s not entirely true; the concept of NFTs has already been upgraded to the NFT 2.0 version, which is what we’ll talk about today.
NFTs are evolving, and they will continue growing as time goes on. You can upgrade them just like any other technology, and the earlier version of NFT with ascendency has already done so.
What is NFT 2.0?
NFT 2.0 is a blockchain-based technology that can be used to create digital assets. The primary purpose of this technology is to make it possible for the users to trade digital assets without any physical exchange of tokens or coins.
NFT 2.0 solves all these problems by providing an immutable, verifiable and cryptographically secure proof of ownership over all digital assets that may exist in the future too!
With this new version, we can solve some of the problems that the 1.0 version had. In the next section, we have listed some benefits you can get from this new version of NFTs.
Also Read: Celsius Network Melts Down The Crypto Market
Features Of NFT 2.0
NFT 2.0 offers the same features as NFT 1.0 but with a few new bells and whistles.
The most important new feature is Interlinking, which lets you link one NFT to another (or even more than one) so that they can be viewed together or in conjunction with other data sets. You can use this feature to learn more about ownership or just to see how two different NFTs might interact with each other.
Upgradability lets you modify an NFT’s metadata over time, for example, if you want to change the artwork or tweak its look. The technology is also dynamic—for example, it can issue commands to other NFTs or allow them to send orders back to it.
In the earlier version of NFTs, it was only possible to have a single resource connected with a token. This meant that everyone got the same technology, regardless of how they saw it. The updated version allows every ticket to be associated with many designs.
The original version of the protocol did not allow for nested NFTs. Creating a token that could have another token within itself was impossible. However, the updated version has generated a lot of nesting, which works by converting one technology that already has another into one with a combination of both. This new feature can be used in gaming, virtual exhibitions, art, and other areas.
The smart NFTs are the next step in the evolution of non-fungible tokens. This version helps to create a link between NFT and smart contracts, which means that when you change ownership of an asset, it can update the ownership data on the token. It can then be captured on its blockchain.
The co-owned NFTs allow more than one owner to contribute to updating an asset’s ownership details, whereas only you can own an asset with the earlier version.
Non-fungible tokens, or NFTs, are the most recent release in the cryptocurrency sector and are becoming a trendy way for businesses to create and distribute their unique tokens. This technology is based on blockchain technology and uses pixels to create multimedia displays.
While this technology may seem like it’s only been around for a short period, it has been around since the beginning of blockchain technology—since 2009. However, there have been significant advancements made in NFT 1.0 that have resulted in it being upgraded to Version 2.0. A few projects are based on this version of the NFT protocol.
Suppose you’re new to the industry or just starting cryptocurrency trading. In that case, you may find yourself in some difficult circumstances when trying to discover more about what makes up an NFT token.
Katie Haun Invests $160M In Thirdweb
To design and effectively launch apps to blockchains, developers may use Thirdweb s pre-built, certified smart contracts as a fast start manual
Although there has been a lot of fanfare about the word “Web3,” it is still a relatively new and underdeveloped technology. Startups creating ways to interact with it more conveniently have therefore drawn a lot of interest. One of most latest development reveals thirdweb, a business that has created a development toolkit to make it easier to develop and launch Web3 products including marketplaces, blockchain games, NFTs, and DAOs. This fundraising round brought in $24 million, positioning the worth of company at $160 million.
To design and effectively launch apps to blockchains, developers may use Thirdweb’s pre-built, certified smart contracts as a fast start manual and then track the corresponding data. Applications comprise of blockchain games and non-fungible token (NFT).
After quitting a16z in December, Katie Haun, a retired federal prosecutor, founded her own business. In March, Haun Ventures raised $1.5 billion for 2 new ventures, quickly establishing itself as a big bitcoin investor. Exactly after two months, despite the global bear market, her former employer, a16z, made industry history by investing $4.5 billion to its fourth bitcoin fund.
The cash will be used by Thirdweb, which has headquarters in San Francisco and London, to expand the developer toolkit, which now includes roughly 10 features covering topics like smart contracts, publishing tools, decentralised logins, and much more.
Additionally, it wants to support other blockchains, draw in even more users, and grow its staff by employing new members and maybe making acquisitions. All of these initiatives will aid Web3 in gaining popularity with the general population.
Even though Thirdweb has only been operational for nine months, it has been viable: To far, 55,000 developers have utilised the company’s platform to build a range of NFT goods, DAOs, games, and other apps, said co-founder Steven Bartlett.
Independent artists as well as businesses like Afterpay is among these developers. Furthermore, as of this week, six blockchains have integrated around 150,000 smart contracts.
The combined $1.5 million in revenue that these ventures generate is not shared with Thirdweb. As according Bartlett, Thirdweb no longer charges any charges or commissions, with the only exception of a few of its business clients who pay a fee in compliance with their procurement policies.
The recent investment also suggests some progress. The investment is being co-led by Shopify, Coinbase Ventures, and Haun Ventures, the company established by former a16z partner Katie Haun.
The above three investors join the extensive list that gave money to thirdweb’s $5 million seed round. When attempting to build their own blockchain application, Bartlett claims he discovered a market requirement that Thirdweb fills.
Instagram NFT Feature To Be Available In 100+ Countries
Instagram NFT feature available to more than a hundred nations. The Coinbase Wallet, Dapper Wallet, and Flow blockchain are partnered with the company.
Meta, the parent company of Instagram, has recently announced that they will make the Instagram NFT feature available to more than a hundred nations. The Coinbase Wallet, Dapper Wallet, and Flow blockchain are partnered with the company. Mark Zuckerberg, the CEO of Meta, asked that the company wants to expand the tokens support on Instagram, which is a video & image sharing platform.
Previously, a test of the tokens was already launched in May. As these tokens become available to more than a hundred nations, businesses in Africa, Asia-Pacific, the Middle East, and the Americas can begin transferring the tokens on the video-sharing social media platform.
According to TechCrunch, previously, a few chosen creators of the United States got the support. In addition, as per the statement from the company, they considered Coinbase Wallet and Dapper Wallet as third-party wallets. Now, users of the platform can transfer tokens and connect a digital wallet and tag collector with the help of the functionality of tokens. Instagram is linked with third-party party Web3 wallets.
Also Read: Tiffany & Co Announces NFTiffs” NFT Series
The company used digital collectables to display the tokens on the social media platform. It was published on May 10, 2022. According to the sources, the company will provide earnings quarterly for Q2 2022. However, criticism came from the co-founder of Ethereum price trend on the metaverse attempts on July 30.
What did Meta say about Instagram NFT feature?
The company said on Thursday that there are no costs linked with transferring a digital collectable on the platform as long as the token roll out.
Meta, previously called Facebook, began experimenting with the feature in July. It enables users of the platform to see their tokens. If you are a user and want to post a token, you must link your account to a digital wallet. Instagram is compatible with Ethereum, Polygon, and Flow blockchains now and different Cryptocurrency Exchange. Bitcoin Trading is something that controls the market also.
Creators inspire users daily to push culture ahead. Blockchain Crypto Exchange technology allows them to leverage new tools through which they can earn money. If you want to support your favourite creator, you should buy any art, pictures and videos, music, or trading cards, all of which are digital collectables. Facebook experienced a fallout in public perception. But later in October 2021, it renamed its brand and changed Facebook to Meta. The company also said it would focus on digital interactions, start Reality Labs and create a metaverse.
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Although it announced to do these, about 77% of people were not willing that Meta would create a metaverse. Along with this, Meta has shown how much it is determined to grow itself with a recent trademark filing. The company filed five new trademark applications with the Trademark Office and the U.S. Patent on May 13.
There existed an application which is for a crypto payment platform. In this regard, Adam Mosseri, the CEO of Instagram, said that the application might implement the technology last year. After that, Mark Zuckerberg asked in mid-March 2022 that Instagram bring tokens to the platform. Remember that Mike Krieger and Kevin Systrom set up the platform in 2010.
Shiba Inu Price Skyrockets After Its Listing On Robinhood
There was a spike in Shiba Inu Price after Robinhoof listed the meme token for trading across the world. ShibArmy took laborious effots
Robinhood, the commission-free stock trading and cryptocurrency investment platform, has added transfer functionality for Shiba Inu. Additionally, the platform has opened its doors for cryptocurrencies that are listed on its marketplace. Shiba Inu price saw a sharp increase after the successful listing of the meme token.
In April 2022, Robinhood listed Shiba Inu, and shortly afterward, users were given the ability to move their SHIB both into and out of the platform. Because transfers are essential to increasing the meme coin’s usefulness, the ShibArmy and holders of Shiba Inu are experiencing a pivotal period right now.
This is an important step in the growth of SHIB as a currency, as it allows users to use their meme coins for purchases in real life. It also makes it easier for holders of Shiba Inu to sell their holdings at market value or to purchase other cryptocurrencies through Robinhood.
The ShibArmy, a community of Shiba Inu owners who are passionate about the token and its future, has been waiting for the listing of Shiba Inu on Robinhood since April 2022. The platform’s growth strategy called for Shiba Inu to be made available on the commission-free market as part of the plan. Along with Polygon, Solana, and Compound, Shiba Inu was included on the list.
A petition was established by ShibArmy on Change.org to get Dogecoin-killer added to Robinhood. The petition generated 550,000 signatures in support of the transfer, while the listing on Robinhood offered a boost to Shiba Inu’s visibility. Both of these factors contributed to the success of this move.
Also Read: Reddit Introduces NFT Marketplace
As the value of Shiba Inu has increased, so too has the Shiba Inu . 78.4 million SHIB were burnt in just under nine transactions over the previous twenty-four hours. The site that counts the amount of Shiba Inu that is burned, Shibburn, found that a total of 410,372,235,827,873 SHIB were destroyed during this period.
As a direct result of this enormous demand, the SHIB burn rate increased. Since the beginning of this process, a total of 410,372,235,827,873 Shiba Inu tokens have been destroyed.
The Dripto internet marketplace increases the usefulness of Shiba Inu as a means of payment online. Recently, Dripto has begun accepting Shiba Inu as a form of payment on their platform and other online marketplaces are expected to follow suit soon. Acceptance by several major corporations has also led to significant growth in value as investors seek out new opportunities for profit with this new form of currency.
In the past few months, cryptocurrency analysts have been paying close attention to Shiba Inu. The meme coin has been slowly creeping upward, and now it seems that it could be on the verge of breaking out.
The cryptocurrency world has been buzzing about Shiba Inu’s potential since its price began to rise in mid-November. At first, most analysts were skeptical that this coin would be able to maintain its momentum, but they’ve since changed their minds. A pseudonymous analyst known as Shib Knight has had several bullish predictions for Shiba Inu—and now he’s looking even more confident in his analysis than ever before.
Shib Knight believes that the meme coin could reach $0.00001212 or higher before it begins to stall out or reverse course—and if he’s right, then investors might be able to make some serious money off this one!
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