NFTs and Paid-to-Game. Opportunity? Or game over?

[drbubb]

NFTs / Non-Fungible Tokens

Top 3 - TKAT is on the list of NFT related stocks

TKAT / Takung Art Co. Ltd. (ASE) ... update: Last: 2.49

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What is Teeka’s Number 1 Stock for the NFT Boom?

Not everyone wants to buy NFTs or get involved in NFT projects. That’s why Teeka recommends a “pick and shovel play,” where you buy shares of a publicly-traded company that could rise as NFTs take off.

...Although we can’t disclose the name of the stock upfront, the stock has the following benefits:

Teeka describes the stock as a “pick and shovel play;” instead of seeking it rich in the gold rush by searching for gold ore, you’re playing it safe by selling things miners need, including picks and shovels

During the internet boom of the 1990s, some of the biggest gains came from picks and shovels plays     > https://www.rentonreporter.com/national-marketplace/teeka-tiwari-palm-beach-letter-review-must-see-nft-craze-picks/

 

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NFT Stocks List 2022: 10 Names to Know to Play the Non-Fungible Tokens Boom

NFT stocks continue to be a hot topic among investors looking to jump into the non-fungible token trend and we’re helping with a list for 2022!

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• Takung Art (NYSEAMERICAN:TKAT) offers a collection of artwork for investors to buy and is getting into NFTs. It didn’t start out with NFTs as its creation goes back to 2009. Shares of TKAT stock are up 4.8% as of Tuesday afternoon.

• Oriental Culture Holding (NASDAQ:OCG) is up next with its online platform that lets customers to buy, sell, and trade collectibles. The company was founded in 2018. Shares of OCG stock are up 5.7%.

• ZK International (NASDAQ:ZKIN) is another Chinese company with this one focusing on engineering but expanding to modern tech. It was founded in 2015. ZKIN stock is up 4.5% as of this writing.

• Dolphin Entertainment (NASDAQ:DLPN) joins the NFT stocks list for 2022 with recent expansion into the market. The PR company was founded all the way back in 1995. Shares of DLPN stock are up 2.4% as of Tuesday afternoon.

• Funko (NASDAQ:FNKO) may be mainly known for its collectible figures but it also has ties to NFTs. The company’s been around longer than many realize with its founding taking place in 1998. Shares of FNKO stock are down slightly today.

• 7 High Risk Stocks That Are Worth The Volatile Vibes

• Liquid Media (NASDAQ:YVR) is another company that didn’t start with NFTs and instead focuses on intellectual properties. It was founded in 1986. Shares of YVR stock are up 2.9% this afternoon.

• CurrencyWorks (OTCMKTS:CWRK) is a company dedicated to developing and launching branded corporate digital currencies. It’s been around since 2010. Shares of SWRK stock are down 7.5% as of this writing.

• Jiayin (NASDAQ:JFIN) is an operator of an online financial marketplace. The company was founded in 2011 and operates out of China. Shares of JFIN stock are up 2.7% as of this writing.

• Plby Group (NASDAQ:PLBY) is selling NFTs from its famous photoshoots that traders can collect. That’s a major shift from its founding as a lewd magazine in 1953. Shares of PLBY stock are up 2.4% this afternoon.

• eBay (NASDAQ:EBAY) also got in on the NFT game recently by allowing the buying and selling of the tokens on its platform. The company has been around

> https://finance.yahoo.com/news/nft-stocks-list-2022-10-180704192.html

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Takung Art Co., Ltd Announces Management Update

BY GlobeNewswire
— 4:50 PM ET 01/07/2022

HONG KONG, CHINA, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Takung Art Co., Ltd (TKAT) , an operator of three online fine art and collectibles platforms, today announced the appointment of Mr. Kuangtao Wang as Co-Chief Executive Officer (Co-CEO) to help develop and guide the Company’s strategies in Non-Fungible Token (NFT) related businesses.

As a General Manager for Yongbao Culture and Media Co. Ltd. since 2007, Mr. Wang is a seasoned industry veteran with a deep understanding and practical experience in the business of art auctions and exchanges. At Yongbao, Mr. Wang built an offline art exchange platform for the company’s art business. Following that, in 2020, Mr. Wang joined Wuwei Tongju Digital Technology Hangzhou Co. Ltd. as CEO where he was responsible for managing technical resources, infrastructure setup, and architectural design. With his in-depth analysis and industry insight from his experience working with the development of Alipay’s ant chain, Youbanquan, Tencent Huanhe, and other NFT platforms, Mr. Wang brings years of extensive experience ready to be applied to the Company’s expansion into NFTs.

A Strange Acquisition Adds To The Questions Surrounding Takung Art Stock

From one perspective, the rally made sense, given Takung Art's end markets, its existing platform, and its presence in Asia. From another, however, the rally itself, and not just its size, seemed bizarre. Most notably, unlike PLBY Group (PLBY) or Topps (which is merging with Mudrick Capital Acquisition Corporation II (MUDS)), Takung Art never actually said it had plans to enter the space. In fact, the company said nothing at all: it still hasn't issued a press release in more than three years.

Despite the company's silence, through the end of May, TKAT stock managed to maintain a decent chunk of the March gains. Then on June 1, the company disclosed in an SEC filing that it had invested in a company that "engaged in the operation of an NFT platform related to collectibles." Takung Art shares gained 24% on the news, and amid volatility since then are up about 13% from where they traded before the release.

But the deal looks odd, to say the least, in terms of both structure and cost. Takung Art is paying a dear price for a small slice of a company that, as yet, does not appear to have an actually working product. The acquisition raises the question of how TKAT shareholders can profit from NFTs, even if the speculative pipe dreams come to fruition.

Cultural Objects Provenance Holdings Limited

(Author's note: the information taken in this section comes solely from Takung Art's recent filing with the U.S. Securities and Exchange Commission, as attempts to reach the company were unsuccessful. A representative of the investor relations firm currently listed on the Takung Art website confirmed there is no longer any relationship with Takung Art. That IR firm's website now consists of content that is absolutely not suitable for work. An email sent to the Takung Art corporate website bounced back; a phone call was not answered.

> https://seekingalpha.com/article/4434869-takung-art-stock-cultural-objects-acquisition-adds-questions?external=true&gclid=Cj0KCQiA09eQBhCxARIsAAYRiyk7e0JDPjkq0-_wYKpC9zys8N_1sSwfEONUjDecuP1XOQ07Cnpw1noaApCzEALw_wcB&utm_campaign=14926960698&utm_medium=cpc&utm_source=google&utm_term=127894703426^aud-1457157706959%3Adsa-402690192841^^552341146519^^^g

Press Releases

Non-Fungible Token (NFTs) Market Size to Reach USD 3,57,316.3 Million in 2030 | Increasing Use of NFTs in Supply Chain and

Jan 19, 2022

Takung Art Co., Ltd Announces Management Update

Jan 7, 2022

Rise of Non-Fungible Token Market (NFT Market) Says Brandessence Market research

Nov 11, 2021

 

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Non-Fungible Token (NFTs) Market Size to Reach USD 3,57,316.3 Million in 2030

| Increasing Use of NFTs in Supply Chain and

VANCOUVER, B.C., Jan. 20, 2022 /PRNewswire/ -- The global Non-Fungible Token
(NFT) market size reached USD 340.0 Million in 2020 and is expected to
register a rapid revenue CAGR during the forecast period, according to latest
analysis by Emergen Research. Increasing use of NFTs in gaming is one of the
major factors expected to continue to drive global market revenue growth.

Drivers:

Global non-fungible token market revenue growth is expected to be driven by
rising use of NFT in supply chain and logistics. NFTs prevent counterfeiting,
assist in tracing the movement of products across the supply chain, and ensure
originality. This can apply to supply chains for high-end fashion businesses.
NFTs could also provide information about each material and component in a
specific product for industries such as automotive. This could also aid in
cost-cutting. NFTs could also be beneficial to enterprises concerned about
tracking the usage of reusable and sustainable materials.

Restraints:

Concerns regarding fraud and scams and lack of standardization are major
factors hampering revenue growth of the market. Using NFTs and blockchain in
the real world might be an effective approach to check titles and validate
ownership histories. However, this type of application poses security risks.
Though blockchain improves the security of NFTs, hacking is still a
possibility. A major problem in the NFT market is unpredictability in
determining NFT pricing. The price of any NFT can be determined by the buyer's
and seller's originality, uniqueness, rarity, and a variety of other factors.
As there are no formed standards for any particular type of NFT, the prices of
NFTs fluctuate significantly.

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Visual artist Carlos brings his works to life through NFTs

https://mb.com.ph › 2022/02/23 › visual-artist-carlos-br...

9 hours ago — At 72, Carlos may be one of, if not the oldest NFT artists to date ... The latest to enter this world of digital art is painter and sculptor ...

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Global Art Market Soars 29% in 2021 to Reach $65 Billion in Sales

The global art market rebounded strongly in 2021 despite the challenges of the pandemic, according to a global art market report released Tuesday.

Aggregate sales, including sales by dealers and auction houses, jumped 29% from 2020 to an estimated US$65.1 billion last year, surpassing pre-pandemic levels in 2019, according to the annual report jointly published by Art Basel and UBS and authored by Clare McAndrew, founder of Dublin-based Arts Economics.

“The art market has demonstrated incredible resilience in 2021, with a strong uplift in aggregate sales, despite still operating under some very challenging conditions,” McAndrew said in the report. “Dealers and auction houses successfully adjusted to a new two-tier system of online and offline sales and events, and the rising wealth of the high-net-worth collectors helped to support demand at the higher end of the market.”

> https://www.marketwatch.com/articles/global-art-market-soars-29-in-2021-to-reach-65-billion-in-sales-01648527118?siteid=bigcharts&dist=bigcharts

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Not Sellable?

NFT for Dorsey's first tweet is almost unsaleable!   How profound. The story.  Not the tweet. haha.  

‘Jack Dorsey’s First Tweet’ NFT Went on Sale for $48M. It Ended With a Top Bid of Just $280
Crypto entrepreneur Sina Estavi bought Twitter founder Jack Dorsey’s first-ever tweet as an NFT for $2.9 million last year. He listed the NFT for sale again at $48 million last week.   >  https://www.coindesk.com/business/2022/04/13/jack-dorseys-first-tweet-nft-went-on-sale-for-48m-it-ended-with-a-top-bid-of-just-280/

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Gaming Startup Promised Riches and Delivered Disaster

Axie Infinity’s vision of a “play-to-earn” video game has crumbled, and the company behind it now tells the players who bought into the hype it was never about the money, anyway.  

> https://www.bloomberg.com/news/features/2022-06-10/axie-infinity-axs-crypto-game-promised-nft-riches-gave-ruin

LOL.

They thought it was a JOB.  hahaha.  Fantasy has replaced reality

Even many Axie regulars say it’s not much fun, but that hasn’t stopped people from dedicating hours to researching strategies, haunting Axie-themed Discord channels and Reddit forums, and paying for specialized software that helps them build stronger teams. Armentia, who’s poured about $40,000 into his habit since last August, professes to like the game, but he also makes it clear that recreation was never his goal. “I was actually hoping that it could become my full-time job,” he says.

WHO came up with this Game?

Axie’s creator, a startup called Sky Mavis Inc., heralded all this as a new kind of economic phenomenon: the “play-to-earn” video game. “We believe in a world future where work and play become one,” it said in a mission statement on its website. “We believe in empowering our players and giving them economic opportunities. Welcome to our revolution.” By last October the company, founded in Ho Chi Minh City, Vietnam, four years ago by a group of Asian, European, and American entrepreneurs, had raised more than $160 million from investors including the venture capital firm Andreessen Horowitz and the crypto-focused firm Paradigm, at a peak valuation of about $3 billion. That same month, Axie Infinity crossed 2 million daily users, according to Sky Mavis.

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Bill Gates on crypto and NFTs: '100% greater fool theory'

Anna Golubova Thursday June 16, 2022

(Kitco News) As crypto investors watched their market dramatically crash this week, Microsoft co-founder Bill Gates compared NFTs (non-fungible tokens) to "greater fool theory." Here's what he meant.

Digital assets like NFTs are "100% based on the sort of greater fool theory that someone is going to pay more for it than I do," Gates said during a TechCrunch conference this week.

The Microsoft co-founder was replying to the question on cryptos when he made fun of the Bored Ape Yacht Club - a collection of non-fungible tokens built on the Ethereum blockchain. The collection consists of profile pictures of cartoon apes generated by an algorithm, which have been known to sell for a very hefty price tag.

However, following the crypto crash, the lowest price for a Bored Ape Yacht Club NFT has fallen to below $100,000 — the first time since August 2021, according to NFT Price Floor.

-- > MORE:  https://www.kitco.com/news/2022-06-16/Bill-Gates-on-crypto-and-NFTs-100-greater-fool-theory.html

[drbubb]

NFTs have been a disaster.  One that will be remembered... and keep people away.  Is this how Cryptos die? 

NFT Trading Volume Plunges 97% Since January, Raising Questions About Their Future

The downturn has raised questions about whether there is a sustainable future for NFTs in the art world. While NFT trading volume reached a record high of $17 billion in January, it fell to $466 million by September, as reported by Bloomberg.  

> https://observer.com/2022/09/nft-trading-volume-plunges-97-since-january-raising-questions-about-their-future/

Is there an ACTUAL NEED?   It was about the Crypto, not the quality of the ARTwork:  Others are less positive about the future of digital art. “I don’t really understand why NFTs are in the art world to begin with,” said Lisa Schiff, founder of art advisory firm SFA Advisory. She believes any artwork included in NFTs are overshadowed by the fact that NFT values are determined by how much people are willing to pay, as opposed to the quality of the art. “I don’t consider them art at all,” she said.

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GOODBYE UGLY ART!   Goodbye PC LIes!

Frankly, a lot of the art documented by NFTs was Ugly.  Post the Mid-terms, America and the world may move into a period of Restoration, where TRUTH and BEAUTY are desired ... more than PC Lies and Ugliness.  The Crash of this market can be seen as an early bellwether of a renewed Search for Beauty.

Report: NFT Trading Volume Collapses 97 Percent from January High

Bloomberg reports that the trading volume of NFTs has tumbled by 97 percent from a record high in January. NFTs are usually digital art and collectibles recorded on blockchains, creating a transparent record of who owns the digital item.

> https://www.breitbart.com/tech/2022/10/10/report-nft-trading-volume-collapses-97-percent-from-january-high/

 

 

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NOW... There's Metaverse Property..

"Attending an event talking about Metaverse here at Dubai World Trade Center"

The Ultimate Guide to Metaverse Real Estate:

• What Is Metaverse Real Estate?
• Why Purchase Metaverse Real Estate?
• How Much Is Metaverse Real Estate Worth?
• How to Buy a Metaverse Property?
• Where to Buy Metaverse Real Estate?
• How to Choose Which Parcels of Land to Buy on the Metaverse?
• Statistics on Metaverse Real Estate
• Risks and Challenges of Investing in the Metaverse
• Big Risks with Potentially Big Rewards

> https://influencermarketinghub.com/metaverse-virtual-real-estate/