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NFTs Are on the rise. Here Are the Latest NFT Updates

NFTs have been on the rise recently and this came with a few NFT updates.NFTs refer to non-fungible tokens that are part of the Ethereum Blockchain. They seem to have taken the world by storm this year and continue to rise each day .

NFTs represent digital assets used in crypto. They could either be a work of art or digital music. Furthermore,NFTs are usually bought and sold online using cryptocurrencies.

Read also:7 Crypto Updates You Should Know

NFTs are usually original versions of digital assets that cannot be reproduced or copied. Moreover,they are sold at varied prices and are presumed to be more valuable as time goes by.

If you are interested in NFT here are a few updates.

NFT Latest updates

1.New NFT project honors Robin William

First and Foremost,a new NFT project is underway to honor the late comedian Robin William. Mental health will be the main beneficiary of the funds collected. In addition to this, the service will be for underprivileged persons in society. The project is a collaboration of two visual artist Jesus Martine’s and Zac Williams .Zac Williams also happens to be the son of the late comedian.

2.Binance and SM partner to create Eco fund

One of the largest digital assets platforms Binance has teamed up with SM entertainment. The two companies want to create a play to create NFT Eco system. This will help people create music, games, and any other type of content. Furthermore, the items can be converted into non-fungible tokens.Thye will not only collaborate on the play to create but also a joint eco-fund.

3.FTX launches gaming unit with NFT support

Crypto exchange platform FTX has launched a gaming unit that will be integrated with NFT. In addition, the gaming unit will allow the launch of digital tokens for its players.The launch will not only focus on adoption of NFT but also cryptocurrencies in general.

4.Axie infinity $4 biliion NFT sale

Finally,Axie Infinity has reached to close $4 billion in NFT sales. The game is one of the top p2E(Play-to-earn games ) in the market.“@Axie Infinity just hit $4Bn traded NFT between players. It’s the most traded NFT collection ever!” read a tweet from its co-founder. Moreover, trading of NFTs on the video game went to over $2.5 billion in a span of 24 hours.

Raveena is an online content writer eager to inform, inspire and teach.


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