Azuki NFT Floor Plummets as Collectors Blast 'Identical' Elementals Art

After the huge Azuki Elementals drop, the new NFTs are trading under the mint price—and the originals are falling fast#BinanceTournament #nftcommunity 👍

Alien Worlds is a game of exceptional depth which can be intimidating, but if you are armed with some methods to gain an edge, you can soar past other explorers.

With these three strategies, you can radically improve your Trilium $TLM mining results.

Learn More: https://tokengamer.io/3-strategies-to-master-the-rarity-pools-update-in-alien-worlds/ 

#nftcommunity 👍 #p2e

NFTs for Beginners: A ULTIMATE Guide to Making Money with Non-Fungible Tokens in 2023

As the world of digital assets and cryptocurrency continues to evolve, the use of Non-Fungible Tokens (NFTs) has become a hot topic. NFTs are digital assets that represent ownership of unique items such as art, music, or videos. These assets have gained popularity and have become a source of income for many people. If you are a beginner looking to make money with NFTs, then you have come to the right place. In this ultimate guide, we will provide you with everything you need to know about NFTs, including how they work, how to create and sell them, and tips on how to make a profit.

Understanding NFTs

NFTs are unique digital assets that are stored on a blockchain, similar to cryptocurrencies like Bitcoin and Ethereum. The main difference is that NFTs are non-fungible, meaning that they cannot be exchanged for other tokens on a one-to-one basis. Each NFT is unique and represents ownership of a specific asset, making them valuable to collectors.

One of the most exciting aspects of NFTs is their potential to revolutionize various industries, including gaming, sports, and music. For example, NFTs can be used in video games to create unique in-game items that players can purchase and own. In the sports industry, NFTs can be used to represent ownership of a specific moment in a game or even ownership of a sports team. Musicians can also utilize NFTs to sell ownership of a specific song or album, creating a new way for fans to support their favorite artists.

Creating NFTs

To create an NFT, you will need to choose the asset that you want to sell and mint it on a blockchain. Minting an NFT means creating a unique digital asset on the blockchain that is verified and recorded. Several marketplaces allow you to mint and sell NFTs, such as OpenSea, Rarible, and Nifty Gateway. These platforms offer different features and fees, so it’s important to research and compare them before choosing one.

Once you have chosen a platform, you will need to connect a digital wallet that supports the blockchain on which you want to mint the NFT. Commonly used digital wallets include MetaMask, Coinbase Wallet, and Trust Wallet. After connecting your wallet, you can then upload the asset that you want to turn into an NFT, such as an image or a video. Some marketplaces also allow for the creation of interactive NFTs, such as those that respond to user input.

Selling NFTs

Once you have minted your NFT, it’s time to sell it. You can list your NFT on a marketplace and set a price for it. The price of an NFT can vary depending on factors such as rarity, demand, and the artist’s reputation. It’s important to price your NFT competitively and promote it to potential buyers. Social media platforms like Twitter and Discord can be effective for promoting your NFT to a wider audience.

Another way to sell your NFT is through an auction, where potential buyers can bid on your NFT and the highest bidder wins. This can create a sense of excitement and competition among buyers, potentially driving up the price of your NFT. Some marketplaces allow for both fixed-price sales and auctions, so you can choose the method that works best for you.

Making a Profit with NFTs

Making a profit with NFTs requires some strategy and patience. One way to make a profit is to buy low and sell high. You can purchase NFTs that are undervalued and hold onto them until their value increases. Another way to make a profit is to create valuable NFTs that are in high demand. This requires research and understanding of the market trends and what collectors are looking for.

#dyor #nftcommunity 👍

✓OpenSea: OpenSea is one of the largest and most popular NFT marketplaces. It supports a wide range of digital assets, including artwork, collectibles, virtual real estate, and more.

✓Rarible: Rarible is a decentralized marketplace for creators and collectors to buy, sell, and trade NFTs. It offers a user-friendly interface and allows users to create their own NFTs.

✓SuperRare: SuperRare is a curated NFT marketplace focused on digital art. It emphasizes the uniqueness and scarcity of digital artwork and offers a platform for artists to showcase and sell their creations.

✓Nifty Gateway: Nifty Gateway is an NFT platform known for collaborating with popular artists, musicians, and celebrities. It provides a user-friendly interface and supports the sale of various types of NFTs.

✓Foundation: Foundation is a curated marketplace that focuses on supporting artists and promoting their work. It requires an invitation to join as a creator but provides a high-quality platform for selling NFT art.

✓KnownOrigin: KnownOrigin is an NFT marketplace dedicated to digital artwork. It aims to empower artists and provide collectors with a platform to discover unique digital creations.#nftcommunity 👍 #dyor

One of the most crucial things you should look out for when starting crypto trading and investing is choosing the proper crypto exchange.

People have lost money from some exchanges,

While some exchange doesn't offer essential features, you need them as a crypto trader and investor. 

Some of the things to look out for when choosing an exchange include

∆. Variety of coins:  one of the things you should look out for when choosing and exchanging is the variety of cash available to trade; not all exchanges offer a wide variety of currencies. Therefore it's essential to research before registering with them.

∆. Ability to trade fiat currency: Another thing you should look out for is whether or not the exchange allows the trade of fiat money, like local currency USD, Euro, and others.

And Binance provides all of this, and that is why they remain the best crypto exchange.

 #cryptocurrency #bitcoin #BTC #technology #blockchain #defi #nftcommunity 👍

LOUIS VUITTON LAUNCHES NFT COLLECTION

Everyone was talking about one thing this week: Louis Vuitton’s new Treasure Trunks NFT collection.

What do we know about the collection so far?

Each of these NFTs will be priced at €39,000, or around $42,000

The supply will be ‘several hundred’

The Treasure Trunks will be soul-bound tokens, meaning they will be tied to the wallet that acquires the NFT

Each of these Treasure Trunks will come with a made-to-order physical twin

Phew, this isn’t just an expensive digital collectible.

What gets interesting is holders of the Treasure Trunks will periodically have the opportunity to purchase Keys. Each of these Keys provides access to never-before-seen Louis Vuitton designs as well as the physical counterparts for them.

The first release of the collection will come out later this month in collaboration with Pharrell, LV’s menswear creative director.

Why does this matter?

Fashion has been one of the more practical applications for NFTs, and many fashion brands are exploring how the digital can augment the physical. Louis Vuitton’s parent company, LVMH, has been exploring crypto and NFTs with its family of brands:

Louis Vuitton launched a mobile game that rewarded players with NFTs

Rimowa partnered with RTFKT for a custom luggage collection

Tag Heuer accepts crypto

Tiffany & Co. launched a limited collection of CryptoPunks pendants

The price tag might be high, but luxury brands understand how to combine exclusivity to make it worth the cost. Meanwhile, I’ll be looking for spare change under Milk Man’s couch cushions.

#nftcommunity 👍 #news #nft #NFTs

Just as with other crypto projects, NFT gaming scams are rife. Here's to spot one.

Blockchain games are becoming more popular. However, there are ongoing debates in the gaming community about the advantages of NFTs. Some see it as exploitative, while others see it as legitimately useful. Nevertheless, we cannot argue that some investors have made money from NFT games.

Considering this, how can you invest in NFT games without getting your hands burnt?

What Is an NFT Game?

Simply put, NFT games are games that use non-fungible tokens. They are more than simply a way to store crypto-collectibles in your wallet; they include player interactions, the purchase of avatars and weaponry, and the potential to generate income from NFT games via the play-to-earn model.

NFTs are expected to play a significant role in driving growth in the gaming industry. They allow developers to profit from their work while allowing players to earn simply by interacting with them. In addition, NFTs employ blockchain ledgers to validate unique digital collectibles, which is vital to how NFT games work.

CryptoKitties, released in 2017 on the Ethereum blockchain, was one of the earliest games to incorporate NFT characters. It allows players to purchase virtual cats, add them to their collections, breed them, and sell them. The project is one of the early attempts to leverage blockchain technology for recreation and leisure activities.

How Do NFT Games Work?

NFT games blend conventional gaming designs with traditional gaming architecture to give users greater control over in-game assets such as characters, weapons, skins, virtual territories, etc. These games are built on blockchains and run on digital assets. Having an NFT token standard for in-game assets also helps developers keep their rarity and uniqueness.

NFT games are comparable to regular video games. The main difference is that prizes and loot won in an NFT game don't have to be kept in the NFT game. You can instead transfer your items to another game or swap them for cryptocurrencies.

The play-to-earn NFT model allows users to develop income streams. The more you play and the longer you play, the greater your profit potential. As a result, the reward is not just competitive but also monetary.

An NFT has no intrinsic value; it is valuable to the extent of the value it provides its holders and how much people want to own them. The value of an NFT could also fluctuate depending on factors like its content, utility, and scarcity.

NFTs keep track of who owns what in-game assets. They are also made in defined quantities and can't be changed. NFT games are built on a blockchain, meaning all gamers can see and interact with the game.

Understanding How Scam NFT Gaming Projects Work

Many NFT game scams use social media accounts. Scammers hack or buy verified social media accounts or ones with thousands of followers, usually on Twitter or Discord, and use them to impersonate popular NFT game projects. They typically have an army of accounts that they tag to make comments supporting the project. They also use bots to send automated replies, retweets, and tag other users.

These scam projects offer high compensation to lure you in and sometimes send links that contain malware designed to help them hack into your computer. Then, after a series of attacks, they often block access to their website or comments on social media.

Some NFT gaming scams use the rug pull scam technique. The promoters use marketing to attract buyers or investors and suddenly stop trading activity, running away with the money raised from the sales. One of the more recent examples of this is the Squid Game Token Scam. The digital token was inspired by the popular Netflix series "Squid Game." First, it marketed itself as a play-to-earn cryptocurrency, then the game developers made off with more than $3 million.

The numerous other NFT-related scams raise the need to be careful when getting involved in NFT games.

5 Ways to Spot a Scam NFT Game

Below are five things to check to avoid being involved in an NFT game scam.

1. The Project Team

It is important to understand who is behind the project and how long they have been involved in the NFT community. You can determine this by looking at how long the founders' or developers' accounts have been active. A well-known project may be more reliable than one involving unknown individuals.

If the information on the project teams cannot be verified, this could be a red flag. Although the NFT system fosters anonymity, even the most anonymous NFT developers leave a paper trail in the community. However, not knowing who the developers are doesn't automatically imply that a project is a scam.

2. Reviews

What people say about the project matters. Checking out reviews will allow you to see what other people think about the project and even the developers.

Unfortunately, reviews may not be entirely accurate. Companies pay experts to post favorable reviews of their products and services. Some set up hundreds of accounts to create these reviews to create a false public image. For this reason, you shouldn't rely solely on reviews.

3. Social Media Engagement

Twitter and Discord are key platforms for building NFT communities. You may monitor projects on these official social networks to see how people interact with them via comments and chats. But, of course, this is not an absolute standard for verifying the authenticity of a gaming project.

People buy false followers and engagements to make their social media accounts appear larger. Therefore, you should be wary of an account that was only created recently but has many followers. However, some projects become appealing very quickly and so gain a large number of followers in a short time.

4. Project Roadmap

A strategic plan should show the project's goal and desired outcome. The plan should include practical steps and milestones needed to reach the goal. The road map must be clear and easy to understand; it must also be flexible and, at the same time, centered around the big picture and the solutions it brings.

Having a well-defined roadmap is not a guarantee of success. It just reveals the creators' goals and expectations for the project, and there is no assurance that they will be realized. A strategy that appears overly ambitious and a project that appears too good to be true could be red flags. It's also not a good idea to invest in any NFT game if you're not confident in its long-term viability.

5. Verify the NFT

Using a blockchain explorer to verify the blockchain metadata is one way to validate the authenticity of an NFT. A blockchain explorer like Etherscan will provide details of an NFT. For example, it allows you to view block mining activity, transaction fees, ownership history, number of uses, and the total number of tokens issued. In addition, verifying the in-game NFTs will help you differentiate the counterfeits from the original ones.

Avoid NFT Gaming Scams

In checking the genuineness of a gaming project, you should not leave any stone unturned. Take your time to investigate the project, the people behind it, and the goal, using all the methods we have shown you. As more NFT projects launch, unfortunately, scammers also develop new ways to defraud gamers and investors. With this in mind, you must remain on guard and verify the transparency of all NFT gaming projects you intend to invest in.

#dyor #nftcommunity 👍

Coinbase Slams 'Evasive Response' from SEC to Court Order

The SEC was told to respond to a Coinbase petition, but its response was noncommittal

#nftcommunity 👍 #bitcoin