NFT of collections such as Cryptonk and Autoglyph will be shown at the Museum of Modern Art in France.
In this week’s post, read how a French contemporary art museum is showing Virtual Tokens (NFTs). Find out why the founder of the Bored Ape Yacht Club (BAYC) copy project is opposing RR/BYC Yuga Labs’ trademark request. See how NFT lost 60% of its market capitalization on Ethereum, and learn how Bitcoin
BTC is the one
Non-volatile addresses increased due to Bitcoin NFT. And don’t forget this week’s nifty news of American billionaire Paris Hilton launching a metaverse called Parisland.
The new French art museum is set to exhibit Cryptonk, Autoglyph NFT
The celebrated modern art museum in Paris, France, announced a permanent exhibition on the Center Pompidou NFT. The museum will feature NFTs from various digital artists from around the world, including Cryptonk #110 and Autoglyph #25.
According to Xavier Rey, director of France’s National Museum of Modern Art, the center is pursuing its interest in blockchain-related digital art. Ray said the collection reaffirms their support for artists in their “triumphs in new media”.
BAYC copy file 10 in opposition to Yuga Labs trademark application
RR/BYC BAC, one of the developers of the copycat NFT portfolio, has rejected 10 trademark applications from Yug Labs in a different twist to the intellectual property dispute between the developers and RR/BYC developers. Jeremy Cahen and Ryder Ripps.
However, the Yug Labs team doesn’t seem fazed by the process. In mainstream media interviews, a Yuga Labs spokesperson said the release was just an attempt to “avoid” the real issue.
Ethereum NFT Cluster to Lose Nearly 60% of Its Market Share by 2022: Report
NFT is not immune to the effects of the crypto winter of 2022. A report by Dapradar studied 81 NFT collections on the Ethereum network and saw a significant reduction in market size in 2022 .
Although the NFT market in Ethereum was valued at $9.3 billion at the beginning of the year, the report suggests that it will drop to $3.7 billion by the end of 2022. According to the report, the decline in value affected its market capitalization could ethereal.
The ETH is
Bitcoin hits a record 44M zero-emission addresses, thanks to Ordinals: GlassNode
The release of Bitcoin NFT, Bitcoin Ordinals, has pushed the number of non-Bitcoin addresses to a new high of 44 million. According to analytics platform GlassNode, this is the first time in BTC’s 14-year history that the platform is being used for other purposes.
Glasnode points out that the increased use of ordinals increased the use of the Bitcoin network. The platform also revealed that this innovation brought new active users and zero-balances to Bitcoin.
Good news: Find love in Paris Hilton’s Metaverse, BTC Cryptopnk and more
Paris Hilton teamed up with Metaverse platform The Sandbox to launch “Parisland,” a virtual reality dating experience that allows players to participate in an in-game dating reality show.
Thanks for reading this rundown of this week’s most notable developments in the NFT space. Check back next Wednesday for more news and insights on this growing field.