Home Ethereum MTV Adds Metaverse Awards Category: Nifty Newsletter, August 17-23

MTV Adds Metaverse Awards Category: Nifty Newsletter, August 17-23

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MTV Adds Metaverse Awards Category: Nifty Newsletter, August 17-23

In this week’s newsletter, learn how the metaverse is a catalyst for non-fungible token (NFT) adoption. Find out how GameStop’s NFT Marketplace revenue plummeted and how MTV added a metaverse prize to the VMAs. In other news, find out how the founder of Telegram came up with the idea of ​​integrating NFT-like smart contracts for Telegram usernames. And don’t forget this week’s Nifty News roundup featuring Decentraland’s Metaverse Art Week.

The Metaverse Is a Key Factor to Long-Term NFT Success, New Research Says

A report by consultancy Juniper Research pointed out that over the next five years, the NFT market could grow from 24 million to around 40 million. According to the report, Metaverse developments will be one of the main catalysts for the wider adoption of NFTs.

The study also noted that Metaverse-related NFTs will be the fastest growing niche over the next five years, with an expected increase in transactions from 600,000 to 9.8 million. Despite the predictions, the researchers stressed that the values ​​in the report are only based on a medium scenario and urged the community to do their due diligence before investing.

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GameStop NFT daily fee revenue dips below $4,000 as gloom infects markets

GameStop’s NFT Marketplace saw a decline in daily fee revenue to less than $4,000 as its 24-hour sales volume fell to around $166,800, suggesting that interest in the NFT platform has started to fade since its launch.

The drop in earnings follows a slowdown in the broader NFT market, as popular collections such as the Bored Ape Yacht Club and Mutant Ape Yacht Club have dropped significant percentages in their price floors.

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MTV Presents “Best Metaverse Performance” Award Category

Web3 continues its foray into the music scene as the 2022 MTV Video Music Awards added “Best Metaverse Performance” to its award categories, giving the age-old awards show a glimpse into the future.

The first year, six artists were nominated. This includes Ariana Grande for The Rift Tour on Fortnite, Blackpink for The Virtual on PUBG Mobile, BTS for a performance on YouTube, Charli XCX for a performance on Roblox, Justin Bieber for An Interactive Virtual Experience on Wave and Twenty One Pilots for their show . in Roblox.

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Telegram founder suggests ‘NFT-like smart contracts’ to auction usernames

Telegram founder Pavel Durov suggested the idea of ​​implementing smart contracts similar to NFTs to auction off high-demand usernames, groups and channel links within his telegram platform. messaging.

According to Durov, this could potentially give rise to a new platform for username holders to sell their accounts to blockchain-secured interested parties. The Telegram founder said the idea was inspired by the success of The Open Network.

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Nifty News: NFL All Day opens to the public, Boss Beauties goes to Hollywood, and more

Metaverse platform Decentraland will hold its third Metaverse Art Week on August 24-28. The event will showcase various NFT artworks curated by Sotheby’s, OpenSea and Artnet and feature panel discussions. Meanwhile, the Australian Football League released its first NFTs, which sold out in less than 12 hours.

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Thanks for reading this roundup of the week’s most notable developments in the NFT space. Check back next Wednesday for more reports and information on this evolving space.