We see many more brands using NFT, but now there is news that an entire nation is using them to generate war revenues.
Ukraine is desperately trying to fund its war effort to repel Russian forces from its borders. It is used to NFTs to fund the cause.
According to a Newsweek report, Ukraine has launched an NFT collection that will allow anyone to fund the war to push back against the Russians.
In other NFT news, the average price of an NFT has fallen significantly since the beginning of the year. However, put that into perspective. As the technology and idea of NFTs become more mainstream, the market is flooded with more options for buyers.
In January of this year, the average price of NFTs was $6,800, according to NonFungible. And the sales data is also lower across the board for daily, primary and secondary sales. For all the people who have said that the NFT market is a bubble about to burst, they may be right. But this doesn’t stop new NFT drops from being launched by both small and big creators.
According to our own data from a weekly list of the most popular and best-selling NFT collections, the price and number of sales are showing a decline. However, sales of rare NFTs and those that people consider “real” art continue to rise.
NFT News – March 20, 2022
Here are the latest NFT news headlines relevant to small business owners, freelance artists, and entrepreneurs:
Pixar NFT drops and sells out in 24 hours
Within 24 hours of its release, 54,995 pieces of the collection sold out for the Disney Pixar Pals NFTs. The NFTs are made of the famous characters that came out of the Pixar Animation Studios. COINTELEGRAPH reports that the pieces include Sheriff Woody, Mike Wazowski, Lightning McQueen, The House from Up and Edna Mode.
JPMorgan and HSBC enter the metaverse
According to Crytponews, two of the largest banks in the world JPMorgan and HSBC are in the metaverse. For JPMorgan that will be Decentraland and HSBC in The Sandbox. The goal is to be present in what many see as the future.
American Express Files for NFT and Metaverse Trademarks
American Express has filed seven trademark applications as it ventures into the Metaverse and non-replaceable tokens. With these trademarks, it aims to explore the possibilities of Web 3 as more global brands add their presence in the metaverse.
Top women-led projects
In honor of Women’s History Month, NFT Plazas has a number of women-led NFT projects worth checking out. What sets these NFTs apart is that they support foundations that help women and girls in different segments of society.
Solana-based NFT Marketplace Magic Eden Raises $27 Million
A round led by Paradigm, along with contributions from Sequoia and Solana Ventures, raised $27 million in Series A funding round. According to CoinDesk, Magic Eden has surpassed SOL 7.5 million in transactions in the past six months.
US regulator launches probe for NFT sales
The US Securities and Exchange Commission (SEC) is investigating NFT makers and marketplaces to find out if assets are being sold illegally. This also includes violating the SEC’s securities offering rules.
LimeWire is relaunching as an NFT marketplace
The peer-to-peer file-sharing company that has shut down is making a comeback by partnering with Algorand as an NFT marketplace. According to CNET, it will have digital collectibles and also focus on music, entertainment content and art. The official LimeWire Marketplace launch is in May.
Assessing the value of an NFT
At first glance, there may seem no rhyme or reason why some NFTs are worth a lot of money while others are worthless. According to COINTELEGRAPH, there are several factors. So before you buy one, you should know what they are.
Check out our latest weekly collection:
If you are new to the NFT space, check out the following articles to learn more about NFTs, including how to earn, sell, and monetize them.
Image: Depositphotos
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This post Ukraine uses NFT to fund war effort against Russia
was original published at “https://smallbiztrends.com/2022/03/nft-news-ukraine-nft-funding-war-against-russia.html”
