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NFTs have lost a lot of their shine – which can do these assets some good

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Source: Gulf News

Non-Fungible Tokens (NFTs) once promised a revolutionary future for artists, collectors, and creators. But a slowdown since has seen many platforms shutting their virtual doors – what’s behind this sudden downturn?

In short: a widespread misunderstanding of core NFT concepts and the technology powering them.

Speculation, hype, and genuine interest in the potential of NFT technology drove an initial gold rush. It is evident that many platforms and participants – especially within the digital art community – needed a deeper understanding of what made NFTs valuable and pioneering.

Read more: https://gulfnews.com/business/analysis/nfts-have-lost-a-lot-of-their-shine–which-can-do-these-assets-some-good-1.1700811374327

NFT

NFT Artists and Web3 Communities Shine in Linea’s Culture SZN Wave 3

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Source: Blockchain.news

Linea’s Culture SZN campaign continues to make waves in the NFT and web3 space, now entering its third phase, Wave 3. This initiative, which spans five weeks, has already featured various NFT artists and web3 communities, fostering connections and birthing new communities within the ecosystem, according to linea.mirror.xyz.

Participants in Culture SZN are invited to mint NFTs and vote for their favorite communities. At the end of each wave, the winning project is honored with the title of “Linea Guild.” Voting and collecting LXP require Proof of Humanity. For those interested in the finer details, updates are available on Discord and X (formerly Twitter).

Read more: https://blockchain.news/news/nft-artists-web3-communities-linea-culture-szn-wave-3

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NFT Art Market Revenue Sizing Outlook Appears Bright

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Source: Open PR

Advance Market Analytics published a new research publication on “NFT Art Market Insights, to 2030” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the NFT Art market was mainly driven by the increasing R&D spending across the world.

Read more: https://www.openpr.com/news/3581311/nft-art-market-revenue-sizing-outlook-appears-bright

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NFTs and blockchain bridge Ethiopia’s past and present in new art exhibition

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Source: Cointelegraph

America’s first major institutional exhibition of Ethiopian art throughout the ages will conclude its year-long tour at the Toledo Museum of Art (TMA) with a grand finale featuring non-fungible tokens (NFTs).

In June, TMA announced that the blockchain-based Ethiopian art collective Yatreda will be their second digital artist in residence, following the Nigerian-based non-fungible token (NFT) star Osinachi’s residency in 2023.

This year, Yatreda will stage a special installation within TMA’s iteration of “Ethiopia at the Crossroads,” which TMA co-curated with the Walters Art Museum in Baltimore and the Peabody Essex Museum in Salem.

Yatreda’s contribution, titled “House Of Yatreda,” will feature loans of some of their most famous NFTs and debut a new series, too. Together, it will bridge the historical relics in “Ethiopia at the Crossroads” with cutting-edge art from Ethiopia today.

Read more: https://cointelegraph.com/news/nfts-blockchain-ethiopia-art-exhibition

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