NFT Utility
NFTs can be attached to physical objects as a way to record ownership, keep track of sales data, and help with authentication. But there’s an other concept out there: the vault 🔐 With Vault NFTs, the physical products tied to the NFTs are stored in your own secure facility. The buyer of a Vault NFT also owns the corresponding physical item and the opportunity to take possession of it at any time — but this concept allows the token holder to trade the NFT without having to deal with the physical product tied to it. To illustrate the concept of vault, let’s take a look at Damien Hirst - The Empresses NFT collection. With this collection, each NFT represents the ownership of a physical print made by the artist. As an owner of this NFT, you have 3 years to decide about the future of your NFT — during that time, the physical print will be kept in a vault. Here are the options you have as an owner: Redeem the physical print, then, the NFT will be burned. Keep the NFT and have the physical artwork destroyed. Trade the NFT and let the next owner decide instead. Have you heard of this utility before?
NFT Utility
NFTs can be attached to physical objects as a way to record ownership, keep track of sales data, and help with authentication. But there’s an other concept out there: the vault 🔐 With Vault NFTs, the physical products tied to the NFTs are stored in your own secure facility. The buyer of a Vault NFT also owns the corresponding physical item and the opportunity to take possession of it at any time — but this concept allows the token holder to trade the NFT without having to deal with the physical product tied to it. To illustrate the concept of vault, let’s take a look at Damien Hirst - The Empresses NFT collection. With this collection, each NFT represents the ownership of a physical print made by the artist. As an owner of this NFT, you have 3 years to decide about the future of your NFT — during that time, the physical print will be kept in a vault. Here are the options you have as an owner: Redeem the physical print, then, the NFT will be burned. Keep the NFT and have the physical artwork destroyed. Trade the NFT and let the next owner decide instead. Have you heard of this utility before?
Internet Computer Protocol Weekly Update
NFT Market Update Ben Armstrong, the crypto influencer known as Bitboy, has acquired his first Internet Computer NFT. After his video revealing the sinister plot to tank the $ICP token launch, Bitboy caught the attention of the IC community. Could this finally be the influencer we’ve been looking for? Artist Egido Val was quick to jump at the opportunity, creating a stunning 1/1 artwork for Bitboy as a part of the WAGMI Dystopian collection. Bitboy accepted the offer and announced that he now had his first Internet Computer NFT. Let’s see what this means for the many BTC, ETH, Cardano, XRP, and HBAR followers that Ben has acquired since he joined Twitter back in 2018. We want to welcome Ben to the community, and we also want to congratulate Egido, one of InfintySwap’s wonderful artist partners with whom we look forward to having a good relationship for many years to come! · The Pixel Collection is coming! On 9 November, artist Jon Ball from pokedstudio is releasing a very special NFT collection. All the artworks in the collection are 1/1 and will be auctioned. Each NFT comes with either full copyright or full merchandise rights. You’re not going to want to miss out on these exclusive artworks, so be sure to follow pokedstudio for more information as the auction approaches. · Distrikt’s PODs can now be transformed into helmets! All you need to do is hold the NFT in your distrikt account (you can now send them back if you had previously moved the NFT out of the app) and then click the layers button to change back and forth between PODs and helmets. We look forward to the continued development of this project.
Internet Computer Protocol Weekly Update
NFT Market Update Ben Armstrong, the crypto influencer known as Bitboy, has acquired his first Internet Computer NFT. After his video revealing the sinister plot to tank the $ICP token launch, Bitboy caught the attention of the IC community. Could this finally be the influencer we’ve been looking for? Artist Egido Val was quick to jump at the opportunity, creating a stunning 1/1 artwork for Bitboy as a part of the WAGMI Dystopian collection. Bitboy accepted the offer and announced that he now had his first Internet Computer NFT. Let’s see what this means for the many BTC, ETH, Cardano, XRP, and HBAR followers that Ben has acquired since he joined Twitter back in 2018. We want to welcome Ben to the community, and we also want to congratulate Egido, one of InfintySwap’s wonderful artist partners with whom we look forward to having a good relationship for many years to come! · The Pixel Collection is coming! On 9 November, artist Jon Ball from pokedstudio is releasing a very special NFT collection. All the artworks in the collection are 1/1 and will be auctioned. Each NFT comes with either full copyright or full merchandise rights. You’re not going to want to miss out on these exclusive artworks, so be sure to follow pokedstudio for more information as the auction approaches. · Distrikt’s PODs can now be transformed into helmets! All you need to do is hold the NFT in your distrikt account (you can now send them back if you had previously moved the NFT out of the app) and then click the layers button to change back and forth between PODs and helmets. We look forward to the continued development of this project.
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