It is noticed by a significant drop in floor prices for some of the biggest collections in the NFT market.

In the recent crypto meltdown, the NFT market has taken a hit!

The floor prices for many of the most valuable NFT collections have tanked along with Bitcoin and Ethereum, with the entry price for some collections dropping by more than 17%.

Here the “floor price” refers to the cheapest piece available on the secondary market. It’s a popular metric for determining the value of NFT collections. 

What Different NFT Data Shows in the Crypto Meltdown?

According to NFTGo data, the floor price for Bored Ape Yacht Club NFTs is down 12.57% in the last 24 hours, falling from around 84 ETH to 73.43 ETH. Meanwhile, the floor price for Moonbirds, one of the standout collections of the year, has plummeted to 14.88 ETH, down 17.33%. Interestingly, CryptoPunks has come out relatively unscathed, with the price for the cheapest Punks falling only 2.67% at the time of writing.

Furthermore, as NFT specialist punk9058 pointed out on Twitter earlier today, OpenSea has seen its wrapped ETH (wETH) trading volume as a percentage of total volume reach a yearly record of 0.2%. wETH trades frequently occur when sellers accept low bids on their assets, indicating that holders may have sold in panic in search of liquidity during the weekend downturn. 

The NFT market has been suffering from the broader crypto meltdown this year. While a handful of collections have defied the downward trend at different points, with Bored Ape Yacht Club leading after topping $430,000 on May 1, the market has struggled to hold up in the latest crash. At a 73.43 ETH floor price, with ETH trading at around $1,260, the cheapest apes are now going for about $92,450. That’s a 78.5% drop from the peak.

Note: These prices may vary later.

Read More From This Week: Why is Crypto Crashing and Will It Recover?

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Users can easily find the ticket for the next major conference on Salesforce’s new NFT marketplace, launching to the general public in October 2021. However, unlike the famous market, OpenSea, you won’t find cartoon pictures of bored primates or pixelated 8-bit characters here.

Furthermore, Non-fungible tokens are records of ownership on the blockchain that have netted marketplaces like OpenSea significant trading volume. However, some say that the boom is over with the crypto exchange. But somehow, Coinbase recently launched its NFT marketplace to a tepid reception. 

Moreover, Veebits creator Gary Vaynerchuk believes that the crash happened naturally in accordance with other hyped products. However, we all know that the long-term future for NFTs still holds promise.

Heightened Security On Nft Cloud Marketplace

Salesforce hopes that its new marketplace will address issues from phishing attacks to insider trading plaguing marketplaces like OpenSea. Further, there will be a more secure environment to create and sell NFTs. 

Moreover, the customers of Salesforce are usually enterprises, and they can list their NFTs on their own website. The Salesforce will handle back-end security, the writing of smart contracts, and authentication. Also, the service will be available to a few customers in a testing phase. The service availability is followed by an official launch in October.

According to Caplan, customers using the NFT cloud marketplace seek engagement from NFT buyers rather than an appreciation of the value of the NFT.

To address employee concerns that the new marketplace would fly in the face of Salesforce’s sustainability goals, Caplan said that clients would use more environmentally-friendly blockchains and be able to buy carbon offsets. 

Just like the NFT marketplace, Rarible offers the option to mint (create new) NFTs on Tezos, an environmentally-friendly blockchain.

Regarding the proliferation of scams totaling over $1B since the beginning of 2021, Caplan said there would be an ability to pause assets and wallets suspected of being involved in fraud.

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Humanity is always growing and stepping out of the borders of this world into new realms. The Metaverse trend shows no signs of slowing down companies such as Facebook creating their own.

So, why are people interested in it? And are there any ways to make money in Metaverse?

How to Make Money in Metaverse?

The Metaverse employs what is known as play-to-earn (P2E), where users can accumulate wealth or assets for completing tasks within a Metaverse. Further, this varies with projects as some create a social hub where other more advanced Metaverse environments offer lucrative P2E incentives. 

People spend between four and five hours a day with leisure time. So why not have this leisure time earn you money? Why not make passive income from this? 

Metaverse is a P2E project that aims to provide a world of opportunity, fun, and profit-making. Profit-making consists of either earning their native cryptocurrency ($MTVT) or non-fungible tokens (NFTs) by completing tasks, missions & challenges within Metaverse. Although Metaverse is a high-quality product designed by experienced professionals, it offers far more than just the above. 

These are the few ways that you can earn an income in Metaverse while having fun:

• Mining

Mining in Metaverse is more straightforward than the real-world alternative, requiring only a house, a mining rig, and a small 5% revenue as an electricity fee. In addition, Metaverse adds incentive as each element is an NFT with value. 

• Land & Housing

You can buy homes in Metaverse that have value and utility. You can also purchase and obtain alternative land types with unique benefits. This includes industries producing electricity for miners (meaning you get some revenue) and transport services. Grocery stores supply unique NFT items to players that fuel a player. Land may also have a billboard that is rentable.

• Racing & Tasks

If you are more into racing and stuff, then you shouldn’t have this question in mind How to Make Money in Metaverse. Unlike traditional games, the cars you acquire will be unique and tradeable NFTs. A player could trade their way to their perfect vehicle or use the income to buy it. Variety exists with the cars as a player may either complete challenges and missions to earn prizes (including money) or aim to win the monthly championship racing tournament. Missions also consist of gun-related challenges for those who do not want to race.

The post How to Make Money in Metaverse? Passive Income Ideas! appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Avatar influencers work the same way traditional influencers do. For instance, Yves Saint Laurent’s collection appears on the runway, and the Avatars model it. The biggest names in fashion journalism feature front row and central in avatar form. They will try to show the rest of the world the latest digital wearables, some of them corresponding to real-life pieces and others simply existing in NFT format. 

The metaverse might seem like some dystopian future similar to Ready Player One, where we live out the rest of our days in the realm of virtual reality. Further, the truth is the metaverse is totally and well upon. Whether in the fashion or healthcare industry, many industries are rapidly transacting to the metaverse. 

For instance, many of the major fashion houses have already joined Metaverse Fashion Week (MVFW) last March in Decentraland.

In short, Decenterland is hosting daily shows, after-parties and talks. Further, the fashion industry is pushing the boundaries of what people believe to be possible. Thus, virtual influencer marketing is becoming the new norm. 

Influencer Marketing: Is It The End?

But what about influencers and models who have already built up a social media presence? They don’t want to be left behind. How can they make the transition over to the metaverse and continue to be included in fashion shows – rather than brands creating their own avatars?

Similarly, how can other brands access things like front-row seats? They need to ensure their brand is at the forefront of new tech and how it’s applied to fashion. How can everyone use digital PR to create their brand image within the metaverse? How can they solidify it as an extension of their social image? 

Avatar Influencers: The future of digital PR

Digital PR is a relatively new field in itself, but the metaverse will undoubtedly change the playing field. With brands increasingly using virtual fashion shows and influencers, digital wearables in the form of NFTs will become increasingly significant too.

Some of these have identical real-life pieces that the NFT can be traded for. Others are one-off digital wearables. They can potentially provide access to specific events, like gated after shows or front-row seats.

The future of digital PR will change rapidly as Future PR packages have the potential to be completely digital. Models and influencers may receive high-value NFTs rather than traditional gifted items like clothes and makeup. 

Ultimately this will only occur when the metaverse becomes more normalized within society and is easily accessible by the masses. In the meantime, we’ve seen brands like Roksanda launch an AR function. It virtually allows consumers to try on an NFT outfit via an Instagram filter. This merges traditional social media with the potentiality of the metaverse. Social media allows traditional influencers to share this with their following. It gives the consumer access whilst maintaining exclusivity. 

Avatar Influencers

There are obvious benefits to using Avatar influencers who are completely computer-generated. They can be used as a complete visual representation of a brand and its values. 

Not only this, but they are also completely under the control of the brand and do not have separate opinions in the same way that real-life influencers do. Therefore, this can also be a way for the brand to comment on social and political issues without directly involving the brand. This adds new layers to the brand’s image and builds rapport with its target audience. 

Read More: Corporations in the Metaverse: Innovative? Or Maintaining the Monopoly

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As per the PR that is detailing the multi-year partnership, Candy Digital will serve as the exclusive NFT marketplace developer for the company. This company currently harbors more than 465 million images. These images include over 135 million analog images from Getty Images’ photographic archive.

Getty Images is one of the pioneers of cultural representations and creative ingenuity through photography and other audio-visual content.

However, the partnership, photography and NFT collectors will be able to purchase, sell and trade official digital collectibles seamlessly. It will be through the Getty Images marketplace on Candy.

CEO of Getty Images Craig Peters also said that “With the very best content at our core, innovation is woven into the fabric of Getty Images. This partnership speaks to our mission to connect people with our high quality, exclusive visual content,” 

“We are proud to work with Candy Digital to expand our offering to the fast-growing global audience of NFT collectors, representing significant opportunities for the company and our global photographer community,” he added.

What do Will Getty Images and Candy Digital Will do?

According to Candy Digital’s official website, the company is Major League Baseball’s official NFT ecosystem. This is where fans and collectors will be able to purchase, trade, and share officially licensed NFTs. 

Moreover, Getty Images will be the latest multinational brand that will be with the NFT world. This brand will be the one after the music platform Spotify. Also, Spotify will begin trialing NFTs for selected users in the summer.

Additionally, Instagram has also shown a unique interest in digital collectibles. They will be providing one form of support for the offshoot of blockchain technology.

Overall, NFTs are projected as one of the foundational innovations. It will drive the next set of a billion users into the blockchain and Web3.0 ecosystem.

Read More: Twitter NFT Scammers That Are Looting People With the Fake Followers and Ads

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South Korean auto giant Hyundai Motor has entered the non-fungible token (NFT) market after collaborating with the ‘Meta Kongz’. It is the NFT brand to enhance its customer community and brand awareness.

So, Hyundai Motor became the first automaker to penetrate the NFT space with its own community. This includes channels on Twitter and Discord and the Hyundai NFT official website. Per the announcement:

“The Hyundai NFT community will provide its users with the brand experience in the metaverse by sharing NFTs depicting its mobility solutions.”

Further, the channels will help the Hyundai NFT community to manage the non-fungible tokens’ value.

Hyundai also released a short film showcasing its NFT universe concept dubbed “Metamobility Universe”. That was first rolled out at the Consumer Electronics Show earlier this year. 

Collaboration of Meta Kongz and Hyundai 

Meta Kongz is a famous NFT gorilla character. The film reflected the ‘Metamobility’ concept, which is expected to offer a smart device-metaverse connection.

Hyundai also intends to offer 30 limited editions of the NFTs on April 20 to commemorate the film release. 

Moreover, Profits are expected to be channelled towards community members and the project’s management.

In addition, Various auto giants, such as Lamborghini, McLaren, and Mercedes-Benz, have entered the NFT space. However, the concept adopted entails representing exotic and luxury cars as digital assets.

Last month, McLaren partnered with InfiniteWorld to showcase its luxury hypercars and hypercars in the metaverse in the form of NFTs. 

Users were to have the chance to own McLaren-branded products. Irrespective of whether they could afford an automobile from the company or not.

The post NFT Automotive Industry: Hyundai Emerges as First Automaker to Roll Out Community-Based NFTs appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Reports on Thursday 7th indicate that Jack Dorsey’s original digital tweet is up for sale on the OpenSea marketplace. These reports come from Sina Estavi, the current owner of the digital tweet NFT. Moreover, Mr. Estavi is the CEO of Bridge Oracle, a Malaysian Blockchain service network.

Since April 1st, Mr. Estavi has shown signs of the intended sale of this digital tweet. For instance, on the 1st, Mr. Estavi started a poll on Twitter. In this pole, he asked for people’s opinions on the value of that NFT. 

His tweet read,

In your opinion, What is the value of the world’s first-ever tweet #NFT ?”

Moreover, His poll collected 428 votes, with 43% of people saying the tweet could be worth more than $30 million.

Later, Mr. Estavi pointed out on April 4rth that someone had offered around $10 million for the NFT. He even likened the NFT to the value of digital Monalisa. Later, Mr. Estavi noted that he listed the asset on the Open sea.

According to reports, Mr. Estavi will sell this NFT for about $48 million(R705 million) on the Open sea. Reports also show that Mr. Estavi purchased this NFT for just about $2.9 million, and this sale will make 16 times what he paid for the NFT.

Estavi to Give 50% to Charities

After announcing his offer of the “just setting up my twitter” NFT, Mr. Estavi also highlighted some of his plans with the proceeds he will get. In one of his most recent reports, Mr. Estavi said that.

“I decided to sell this NFT ( the world’s first-ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly.”  

Mr. Estavi plans to donate some amount of the income to a charity called Give directly. Give Directly is a charity platform allowing people to send donations directly to people living in poverty. Donating $25 million to the charity will go a long way to helping the poor.

Jack Dorsey, the CEO of Twitter, suggested that Mr. Estiva donates 99% of the profit to the charity. While Mr. Estiva has other blockchain-related plans for some of the funds, he said he is open to donating even the complete 100% of proceeds to the charity suggested.

The idea of charitable giving has increased in popularity over the recent month in the crypto space. As the Russia-Ukraine war continues, NFTs and cryptos have been used in charity collections.

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What are Riot Racers?

Riot Racers is a play-to-earn car racing game with all the purchasable game assets as NFTs. Also, players are able to purchase cars and race them to earn cryptocurrency. Further, this concept has many similarities to the Zed Run game. However, rather than horses, in Riot Racers, players can now buy and run a wide variety of cars with PFP-like drivers. 

Moreover, Riot Racers is more about racing strategy. Plus, all the cars are similarly able to win when there are no “mule” cars in Riot Racers. Nonetheless, one can’t help but notice that the team gained inspiration from other play-to-earn games like Zed Run and Axie Infinity.

In addition, the in-game currency of Riot Racers is the $RIOT token. It is a fungible ERC-20 token on the blockchain of Ethereum. Also, players use the RIOT tokens to upgrade vehicles, enter races, earn in-game rewards and more. The $RIOT token is currently available to purchase on Uniswap.

Riot Racer’s Excellent Team

The reason behind the launch success is that the Riot Racer team has a well-written whitepaper and clear development plan. They also have accountability between the community and developers. Further, this game’s visuals are sharp, as seen by the quality of the NFTs they’ve created. 

The gameplay sounds extremely fun, and the secret ingredient may just be the team behind the project!

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