#NFT #NFTS

1- In the art world, seemingly simple paintings can be sold for tens to hundreds of millions of dollars. The value of art does not come from the painting's ability or the time it took to create it, but rather from its position in relation to an idea, concept, history, or context.

2-Value is created by the combination of "position in the art historical context" x "artist's thought and embodied style. ・It brings a new interpretation and expression to the artistic history. ・It expresses the artist's underlying desire in an original way.

3- Review the idea that "art = self-expression." People in the actual art market know that self-contained expressions of desire are only the style of some genres and times, and they are sometimes looking for the intersection of the artist's personality, society, history, etc.

4- There are various types of art. Living by art means devoting all one's time to researching one's interests, studying the market to the fullest, and learning about history and culture. He digs deep into his inner self, analyzes it, and strives to give it shape.

Technology startup TravelX is helping an Argentinian airline offer NFT tickets to its customers, and the firm expects a handful of other air carriers to adopt this model by the end of the year.

Customers of Buenos Aires-based Flybondi now have the option to activate NFT versions of their tickets, which allow them to make a name change on the reservation or transfer the ticket to someone else.

The new feature enables companies purchasing tickets, for example, to decide which of its staff members will be traveling later on.

“What we believe is this is going to become the new standard,” Chief Product Officer Alejandro Nardi told Blockworks. “If you think about the travel industry, it’s the only one where you’re buying an asset but you’re not the real owner of that asset. That’s basically what we’re changing within the industry.”

TravelX’s technology, called NFTicket, uses blockchain Algorand. Algorand Foundation CEO Staci Warden said in a statement the tech, which integrates ticket-related rules into the smart contract, “likely represents the largest use case of utility NFTs we’ve seen.”

Flybondi’s newest capabilities comes after the airline last September launched its NFTicket Marketplace. Flybondi connected to the marketplace at the time, making tickets available for tokenization as a sort of proof of concept. About 1% of Flybondi tickets sold monthly were tokenized.

But starting last week, every ticket Flybondi sells is tokenized and built directly into the infrastructure of Flybondi’s online platform, according to TravelX, which is headquartered in Miami.

Flybondi CEO Mauricio Sana said in a statement the new ticket distribution method is set to boost efficiency — reducing the airline’s customer service costs and increasing its revenue.

Bryan DiSanto, head of Web3 brand and marketing for gaming studio InfiniGods, said the new airline tickets are significant for widening the adoption of NFTs, adding that such efforts can help airlines build loyalty.

“For decades, airlines have dictated strict travel terms and rules, in a way that I would deem to be unfairly restrictive,” Disanto told Blockworks. “This represents a big step in the direction of consumer empowerment and flexibility.”

How it works

TravelX executives sought to make sure there was no friction for Flybondi flyers.

A customer buys a ticket on the airline’s website with a credit card. They will then receive a confirmation email. A second email shares a link to activate what the airline calls Ticket 3.0 — the user-facing name for the NFTicket technology.

Each user creates an account that is associated with an Algorand address. The traveler doesn’t get their private keys, however, and must use the platform to modify or transfer tickets.

Flybondi is intentionally staying away from crypto- and blockchain-related branding to avoid alienating people intimidated by the technology.

“From a user perspective, it is [Ticket] 3.0,” Nardi said. “There is no Algorand here, there is no blockchain, there is no MetaMask.”

Once travelers have an account, they can pay a fee — amounting to 282 Argentine pesos (about $1.34) during a TravelX demo with Blockworks — to change the name on the ticket or transfer it to someone else. FlyBondi collects a percentage of each secondary transaction fee.

This request alerts the airline and Algorand. The ticket can be transferred in minutes.

Similar to the way e-tickets work today, TravelX executives explained, an NFT ticket may not be able to be transferred within a certain time frame before departure, depending on a country’s regulations.

Between 10% and 15% of Flybondi customers had initially activated the NFT capabilities of their tickets. TravelX says they expect that number to go up to 90% once they include the activation link as part of the confirmation email.

“This is the first airline,” Nardi said. “They really want to go step by step and don’t want to create confusion for their customers.”

What’s next?

In the coming weeks, Flybondi travelers will be able to re-sell their NFT tickets via the Ticket 3.0 accounts, TravelX CEO Juan Pablo Lafosse said.

“It’s going to be published on a secondary marketplace that we have built,” he told Blockworks. “Anybody will be able to buy and sell tickets from other people — not only from the airline.”

FlyBondi is set to receive a portion of the price increase of every resale transaction.

TravelX executives said it has met with roughly 70 other airlines — across Europe, Latin America, the US, Asia and Africa — about the NFTickets technology. It expects most low-cost carriers around the world to adopt the model in the next 12 to 18 months.

“If the Flybondi experiment is well-received and creates opportunity, I would imagine that you’ll see a large carrier follow suit in short order to grab headlines — and gain first mover advantage in the industry to gain loyalty and preference from broader groups of travelers,” DiSanto said.

Bureaucracy is likely holding back some of the larger legacy airlines, Nardi said. Such companies have also shared concerns about losing revenue linked to penalties for no-shows, for example.

“But once they understand they can offer the customers a better product, they can increase demand as they are unlocking a lot of use cases that right now are restricted,” the TravelX product lead added. “The early adopters will show the data and how this is bringing value not only to the customers, but also to the airlines.”    

#nftcommunity #NFT #NFTS  

In a rare sign, a Stan Lee NFT collection by Kartoon Studios got sold out almost instantly on Monday, adding much needed confidence to the non-fungible token (NFT) market. In the recent times, the NFT market struggled to gain traction as demand for digital collectibles slowed down.

Stan Lee NFT Sales: In Phases

According to Kartoon Studios, a batch of over 8,000 Stan Lee digital collectibles was sold out almost instantaneously. This was the first phase of the NFT collection on the occasion of Lee’s 100th birthday recently.

Also Read: Ex-SEC Chief Calls Jack Dorsey’s First Tweet NFT “Worthless” & NFT Marketplace A “Scam”

Stan Lee, a comic book writer, is known for creating popular superheroes including Spider-Man, the Hulk and Iron Man. The latest flash sale out of NFTs gives a glimmer of hope for stakeholders in the digital assets market, which saw a decline during the crypto winter following a phase of phenomenal demand in the bull run in 2021.

The sale of 8,294 NFTs led to a revenue generation of $120,000 for Kartoon Studios. Earlier, the NFT prices in the collection rose by as much as 5 times. The cheapest NFT available was valued at $81 while the highest valued NFT was for $749. Meanwhile, details about the next phases of Stan Lee NFT sale are yet to be revealed.

#REXBOX #NFTS #NEWS

The emergence of blockchain technology has undeniably transformed how we understand and interact with the digital world. Most distinctly, the breakthrough of Non-Fungible Tokens (NFTs) is reshaping our conceptualization of ownership and value. NFTs have captivated audiences worldwide, sweeping the cryptocurrency sphere like an unstoppable storm. This revolution is not only making waves through the broader crypto world but it's also triggering exponential growth in two novel, digital sectors - art and real estate.

NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated. Unlike cryptocurrencies such as Bitcoin, known for their fungibility where every token is identical to every other token; NFTs are each distinct and hold value in their rarity. This differentiates NFTs from other digital assets and fuels their application in signifying ownership of unique items or content.

In the realm of digital art, NFTs are innovatively reconstructing the concept of art ownership. Artists can now mint their digital artworks as NFTs on the blockchain, giving these works a stamp of authenticity. Digital art, a form previously without a physical manifestation that could cause value and ownership disputes, now has a home within NFTs. It provides artists with the ability to monetize their work in ways previously unreachable in the digital realm. High-profile sales such as the $69 million acquisition of Beeple's artwork "Everydays: The First 5000 Days" at Christie's auction have more than demonstrated the potential in this arena.

The revolution doesn't stop at digital art; it is surging towards another significant aspect of our society – real estate. Digital real estate NFTs represent ownership of virtual land. Platforms like Decentraland and CryptoVoxels allow users to purchase plots of virtual land as NFTs, then build and monetize virtual environments on them. This creates an entirely new marketplace, where participants can not only buy, sell, and trade digital real estate but can also create significant virtual experiences and establishments.

These developments signal more than a trend – they represent a shift in society's understanding and appreciation of the digital world's value. A new era is being ushered in, one where digital ownership is secured, verifiable and tradeable, and can form the basis of substantial economic activity.

In conclusion, NFTs have become the latest frontier of the digital economy. Their rise embodies the maturation of the crypto ecosystem and a new paradigm in the art and real estate industries. As we look towards the future, the role of NFTs in the economic infrastructure of the digital world seems not only important but inevitable. This revolution is just beginning.

#NFTS

An NFT, or Non-Fungible Token, is a unique cryptographic token traded on a blockchain network. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable, NFTs represent ownership of specific digital assets. They are well-suited for representing one-of-a-kind items in the digital realm, such as artwork, game items, virtual real estate, and collectibles.

Blockchain technology provides a decentralized and transparent infrastructure for verifying and tracking ownership of NFTs. The blockchain records information about the asset, including its origin, ownership history, and metadata, making it tamper-proof and easily verifiable.

NFTs have gained popularity as a way for creators to monetize their digital creations. Artists and content creators can mint their work as NFTs, selling them directly to collectors and potentially earning royalties from future sales. This has opened new opportunities for artists to showcase and profit from their digital art in ways previously challenging in traditional markets.

For collectors, NFTs offer a means to own unique digital assets and prove ownership through blockchain records. NFTs are easily transferable and storable, overcoming the physical limitations of traditional collectibles. Collectors can buy, sell, and trade NFTs on online platforms and marketplaces, fostering a vibrant ecosystem of digital ownership.

While NFTs have experienced significant growth, it's important to note that the market is still evolving and subject to speculation and volatility. The long-term impact and sustainability of NFTs in the art and digital asset space are yet to be fully determined.

$ETH

#WebGTR #NFT #NFTS #NonFungibleToken #ERC721