NFTs – thetop10news.com http://www.thetop10news.com/ Tue, 18 Jan 2022 15:49:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.5 NFT blockchain games https://www.thetop10news.com/2021/10/05/nft-blockchain-games/ Tue, 05 Oct 2021 16:14:20 +0000 https://www.thetop10news.com/?p=9 Using the blockchain, NFTs let you acquire and sell ownership of one-of-a-kind digital objects while also keeping track of who owns them. NFT is an abbreviation for non-fungible token. It may potentially include anything digital, such as paintings, music, animated GIFs or video games. An NFT can be one-of-a-kind, like a real-world artwork, or one ... Read more

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Using the blockchain, NFTs let you acquire and sell ownership of one-of-a-kind digital objects while also keeping track of who owns them. NFT is an abbreviation for non-fungible token. It may potentially include anything digital, such as paintings, music, animated GIFs or video games. An NFT can be one-of-a-kind, like a real-world artwork, or one of many copies, like trading cards. But the blockchain maintains track of who owns the file.

Supdrive

Dom Hofmann, one of Vine’s founders and developer of Byte and Peach, is working on a new program called Supdrive. In his announcement tweet for Supdrive, he refers to it as a on-chain fantasy gaming console. This doesn’t necessarily make it any clearer what this project would look like however. He’s since clarified in an announcement article, which you can read below, that it’ll be a video gaming system that plays classic games (like Pacman or Space Invaders), with NFTs functioning as a sort of virtual cartridge.

Hofmann stated in a Supdrive Discord that the games will be NFTs that operate on virtual firmware. Because games will be distributed as NFTs, there will only be a limited number of “editions” or copies available. Hofmann further claims that each copy of a particular game will be unique, with distinct color schemes, difficulty levels, and other features.

Art Blocks

While describing Supdrive, Hofmann compares it to another blockchain project, Art Blocks. This may give us a sense of what it would be like. The idea behind Art Blocks is that it allows authors to write programs that produce art procedurally which is then saved on the blockchain. The programs will always produce the same art for a given seed, but altering the seed causes the art to change. Then, users buy NFTs for an Art Block project, which contains a seed that allows them to create that art.

This appears to be consistent with Hofmann’s description of an on-chain console that will play unique games. The specifics, such as how it will operate, how many copies of each game will be available, and how much they will cost, will be disclosed later.

According to Hofmann’s article, if the initiative is successful, the aim is to allow the community to build games for the Supdrive. He also intends to improve the console’s capabilities, enabling more complex games; the initial collection of games will be arcade style. The first game, Origin, was created by Hofmann.

Supdrive also includes a metagame, with users divided into Red, Green, and Blue teams a la Pokémon. According to Hofmann’s announcement post, the team you’re on may have an impact on the game you’re playing.

Release date

According to Hofmann, the release date for Supdrive is set for October.
Hofmann stated in the Discord discussion that he hoped to start the project in October. He also stated that he will provide updates “every week or so” till the debut.

Hofmann’s post-Vine initiatives haven’t been as successful as the original video app; the app for his social network on iOS, Peach, hasn’t been updated in over three years, and the successor to Vine, Byte, was bought by a TikTok competitor named Clash. User App Store reviews have not been positive about the changes made. Only time will tell how Supdrive works out for Hofmann. But it appears to be an intriguing idea assuming you’re onboard with entering the NFT market to acquire the games.

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Fake Banksy NFT sold for £244,000 https://www.thetop10news.com/2021/09/01/fake-banksy-nft-sold-for-244000/ Wed, 01 Sep 2021 13:12:00 +0000 https://www.thetop10news.com/?p=15 In retrospect, it seemed too good to be true; the opportunity to purchase Banksy’s maiden venture into the lucrative realm of non-fungible tokens (NFTs). But at a fraction of his skyrocketing market pricing. The work (titled Great Redistribution of the Climate Change Disaster) was convincing enough to persuade a customer – confusingly dubbed Pranksy – ... Read more

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In retrospect, it seemed too good to be true; the opportunity to purchase Banksy’s maiden venture into the lucrative realm of non-fungible tokens (NFTs). But at a fraction of his skyrocketing market pricing.

The work (titled Great Redistribution of the Climate Change Disaster) was convincing enough to persuade a customer – confusingly dubbed Pranksy – to spend hundreds of thousands of pounds. Eventually the money was returned after turning out to be what looks like an elaborate prank by a fraudster.

It has been described as a stunt for publicity. But whatever the actual reasons are, the event has shone attention on the weaknesses of NFT trading. This has already been highlighted by artists who claim their work was sold without their knowledge or agreement.

The photograph depicts a man smoking in front of several industrial chimneys.

It was put up for sale on the Open Sea site, dubbed eBay, but for NFTs.

Banksy’s official website did contain a page named NFT that has since been removed. It featured a link to an auction site offering a work of the same name.

Pranksy is famed for his collection of NBA Top Shots NFTs and was persuaded to bid £244,000 in bitcoin despite the fact it didn’t look genuine. He claimed he realized he had been duped when the offer was instantly approved.

He claims that the vendor ultimately refunded all of the money except for the transaction charge of £5,000.

The event calls into question one of the features that made NFTs so appealing; their ability to provide cryptographically secure authentication.

Authenticity is reliant on the vendor being who they claim to be.

Other artists, notably Damien Hirst, have embraced the NFT market, although some of their work has been sold without authorization. Banksy’s staff has been eager to disassociate the artist from the forgery. “The artist Banksy has not been involved with any NFT artworks,” his team said in a statement. They didn’t elaborate in any way on how his website was hijacked.

Artists have expressed concern about the ease with which some NFT platforms allow them to “tokenize” other people’s material. Some, for example, let users transform every tweet into a marketable digital commodity, while artworks have become attractive tokenisation products.

Pranksy claims that, despite his moniker, he didn’t want to jeopardize any future possibility to talk with Banksy’s crew or any other artists regarding NFTs. He claims instead that the rapid return of the money meant it was more likely it was someone seeking to make a broader point.

“I did not anticipate anything to be returned; it appears the hacker had more goals than money,” Pranksy explained. When asked what such motives could be, he responded, “to point out weaknesses in the website and with validation inside NFTs?”

Banksy’s art has previously been the topic of NFT debate.

The Burned Banksy NFT, which included a picture of a Banksy print named Morons, was sold for about £300,000 and featured an image of a Banksy work titled Morons. The tokenised print, which was originally sold in an edition of 500, was publicly burnt when the token was coined. Its makers said it moved the value of the actual artwork onto the NFT.

Pranksy said he wanted to hear from Banksy’s team regarding the security of his website and if it had been hacked; but that the event had not affected his interest in NFTs.

He stated he had not lost trust in NFTs as a result of the experience. When he finds one connected through an artist’s website, he’d just be a bit less excited, he added.

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