Web3 fantasy shooter Kokodi Arena has officially launched Season 1 on the HyperPlay platform and is now open to NFT holders.
Kokodi Arena combines elements of battle royale and extraction shooter genres, offering a mix of strategy, teamwork, and high-stakes combat.
This new season brings the Play-to-Airdrop feature, where players can earn rewards such as $KOKO tokens, NFTs, and other in-game items by accumulating Play Points (PP) through gameplay.
Source: KOKODI Games
Play-to-Airdrop Mechanics and Rewards
In Season 1, Kokodi Arena introduces Play Points as the in-game currency for earning rewards.
Players can earn Play Points through Quick Match, the game’s primary mode for competitive play. Points are awarded for kills, captures, and victories, with each kill or capture earning 100 PP. Winning a match doubles the points earned during that session.
At the end of the season, players’ accumulated Play Points can be converted into $KOKO tokens. These tokens, set to fully launch in early 2025, will power the game’s economy and provide discounts on in-game purchases. Additional prizes for high-ranking players include rare NFT skins and invite codes, though specific details about these codes have yet to be disclosed.
Source: KOKODI Games
How to participate in Season 1?
Participation in Kokodi Arena Season 1 requires ownership of specific NFTs: KOKODI, Mask, or Lootbox. These NFTs are available for purchase on platforms such as OpenSea and Sphere. Lootboxes, the most affordable option, are currently listed at around $7.50.
To join, players must download Kokodi Arena through the HyperPlay launcher. The Quick Match gameplay, which awards Play Points, is available daily between 18:00 and 20:00 UTC. Whilst the season’s end date has not been announced, this structured play window ensures a consistent and active player base during Season 1.
Kokodi Arena is currently an NFT-gated game but is expected to become free-to-play in the future, with plans to release on the Epic Games Store.
Three years ago, the digital economy and the art world experienced one of the most extraordinary crazes in recent history as NFTs (nonfungible tokens) skyrocketed in popularity and value.
These unique digital assets became both a financial and cultural phenomenon, with wealthy individuals and major organizations investing millions into a new market that promised to be both widely innovative and exclusive.
NFT’s boom was largely driven by the rising value of cryptocurrencies. However, the NFT market and digital art sector weren’t the only industries experiencing a transformative era as a result of the rising adoption of crypto; so too were online casinos. Many online crypto casinos like Dis casino gained momentum due to the rising value of crypto. At these online casinos, players enjoy enhanced anonymity, faster payouts, and elevated security measures, while using the communication benefits of the Discord platform. With the resurrection of NFTs, it’s even possible to create NFT slots, NFT poker, and NFT whatnots at some iGaming websites.
While the NFT craze is not at the same level as what it once was, the market is experiencing a resurgence of sorts.
The Rise of NFTs
Davis referred to the events of 2021 as utter mania and added to that statement with a quippy remark about how manias are also fun.
The moment that the world began to realize the enormous potential of nonfungible tokes came when the former head of digital art at Christie’s, Noah Davis, facilitated an NFT sale of Mike Winklemann’s (also known as Beeple) digital artwork Everydays: The First 5000 Days for $69.3 million with the crypto Ether.
Winklemann’s landmark sale put NFTs on the map and catapulted these unique digital assets into the mainstream market, arousing interest from all sorts of individuals, not just art enthusiasts.
NFT collectors went as far as spending $230 million on NBA Video Highlights that were made into unique digital files, while another anonymous collector bid $560,000 for an NFT on a column about NFTs written by a New York Times reporter.
Another phenomenon in the NFT world during its surge in 2021 was the considerable amount of people, generally young males, who were swept up in the craze to purchase and sell NFT apes from popular NFT collections such as Bored Ape Yacht Club and Pudgy Pidgeon. These collections were made up of CG (computer-generated) artworks of cartoonlike apes and sold for anything from tens of thousands to millions of dollars each on online NFT marketplaces like Open Sea.
Owners of Bored Ape NFTs made these digital artworks their online avatars, which in turn symbolized their memborship to an exclusive club that offers these collectors exciting perks such as access to ApeFest, which featured a star-studded line-up with the likes of Chris Rock and The Strokes performing at the exclusive event.
During the peak of the NFT craze, many celebrities like Jimmy Falon and Paris Hilton showcased their Bored Ape digital artworks on The Tonight Show, further supercharging the craze. This led to Yuga Labs’, a community member of the ApeCoin, reaching a value of $4 billion, which was on par with Disney’s recent acquisition of LucasFilms, which would see mega franchises like Star Wars and Indiana Jones now under Disney’s ownership.
The Decline of the NFT Market
Fast forward to 2024 and the NFT market has not managed to regain its same value as it did a few years ago. Zeke Faux, the author ofNumber Go Up: Inside Crypto’s Wild Rise and Staggering Fall, took this sentiment to extreme lengths and even commented that the NFT space is dead.
The main reason behind his view is that the NFT trend was largely dependent on the soaring value of cryptocurrency. However, despite the crypto market bouncing back after a two-year slump and reaching record highs, the NFT market has failed to regain its previous hype and has experienced a drop in cultural relevance.
There is no doubt that NFTs had significant cultural relevance when the market was peaking; however, much of its initial enthusiasm from investors was backed by financial speculation rather than solid evidence of a sustainable market. The massive spikes in values for cryptocurrencies like Ether only fueled the craze, as the market could be likened to a modern-day gold rush. Promises of wealth and the pursuit of profit undermined the genuine interest or underlying value of the digital art itself.
When Faux was still busy writing his book in 2022, NFT prices were already sinking. The author purchases a Mutant Ape NFT, which was part of a spinoff collection produced by Yuga Labs, for $20,000 for the sole purpose of gaining access to an ApeFest party so that he could research his book. To put this in perspective, a similar NFT was sold for almost double that amount just weeks earlier.
Today in the current market, the least expensive Bored Ape on sale is known as the “price floor can be purchased at around $70,000 according to recent prices from NFTpricefloor.com. In April this year, a similar NFT was valued 90% lower than what it was in 2021. However, many NFT values have increased alongside cryptocurrencies like Mutant Ape, which is currently priced at approximately $12,800, thus showing signs that the NFT market may be on the verge of experiencing a resurgence.
NFTs are Bouncing Back
Despite the overall downturn, various NFT collections managed to retain their value and many investors plan to stick with the NFT market. Popular NFT collections like Pudgy Penguins still manage to maintain relevance within the digital art space (with its NFT floor price sitting at around $50,000) and beyond through branching into other lucrative avenues.
The collection’s creators launched a line of plush toys available at major retailers like Walmart, generating millions in revenue. Similarly, Doodles, another popular NFT series, expanded into diverse ventures, including digital wearables, a record label, and collaborations with high-profile figures like Pharrell Williams, who serves as the brand’s creative director.
These examples highlight a critical shift in the NFT market: the need for tangible utility and community engagement. As speculative trading diminished, projects that offered real-world applications or sustained cultural relevance stood out in a crowded field. Yet for many early adopters, the dream of striking it rich through NFT trading faded, replaced by a more pragmatic approach to the technology.
One area where NFTs have maintained a degree of legitimacy is the art world. Prestigious institutions and events, such as Art Basel Miami Beach, continue to explore the intersection of digital technology and traditional art. In 2023, Sotheby’s set a record for algorithmically generated art with the sale of a piece from Dmitri Cherniak’s Ringers series for $6.2 million. Museums have also begun to embrace blockchain art, with the Los Angeles County Museum of Art acquiring its first NFT. While these milestones indicate growing institutional recognition, they also signal a transition from a speculative frenzy to a more thoughtful integration of NFTs into the broader art landscape.
Shifting Trends in Digital Assets
While NFTs are making a comeback so is the general interest around other digital assets. Meme coins, cryptocurrencies inspired by internet jokes, became the new focal point for speculative investors. Tokens like Dogecoin and Bonk gained traction, often riding waves of viral popularity. Even celebrities joined the trend, with rapper Iggy Azalea and former NBA star Scottie Pippen launching their own meme-based currencies. These developments underscored the adaptability of digital asset markets, where trends shift rapidly and unpredictably.
A New Era of Digital Art
For those still active in the NFT space, the focus has shifted from rapid trading to long-term value creation. Former Christie’s digital art head Noah Davis, who played a key in the $69.3 million sale for Beeple’s Everydays: The First 5000, helped drive the initial NFT Mania, and three years later has now co-founded Fountain, a brokerage aimed at connecting buyers and sellers of high-value digital art.
This new phase of the market prioritizes artistic integrity and sustainable growth over quick profits. Fountain has facilitated significant transactions, such as the sale of a rare CryptoPunk alien NFT and a set of 10 Autoglyphs, each exceeding $10 million. Events like Art Blocks, hosted by generative art platform Art Blocks, continue to draw dedicated enthusiasts, demonstrating that NFTs still hold appeal for a committed community of collectors and creators.
As the speculative energy that once defined the NFT market dissipates, the industry faces a critical juncture. Projects with genuine artistic or practical value are more likely to endure, while others risk becoming relics of a fleeting trend. Whether NFTs will achieve their transformative potential in art, finance, and technology remains an open question, but their story thus far offers valuable insights into the intersection of culture, innovation, and human behavior.
Ragnarok Landverse, a new Web3 version of the classic MMORPG Ragnarok Online, will launch on Sky Mavis’ Ronin Network in early 2025. Ragnarok Landverse: Genesis is the result of a partnership between Ronin Network and blockchain gaming studio Zentry. Terms of the deal have not been disclosed, but this brings more players and fans into Web3 gaming.
A Classic Goes On-Chain
Ragnarok Online was first released in 2002 by South Korean company Gravity. It became a global phenomenon, with over 100 million players and over $2 billion in revenue. Over the years, the franchise has been known for its immersive quests, detailed character customization, and strong player communities. It’s especially popular in Southeast Asia, where its player-driven economies and social features make it stand out.
Source Ragnarok
By going on-chain, Ragnarok Landverse aims to add more value and engagement. According to Zentry, this Web3 version stays true to the original experience. Still, it adds the ability to earn, own and trade digital assets. Players can complete familiar quests, kill monsters and explore the game world while collecting on-chain resources like adamantine fragments and earning tokens.
This added layer of digital ownership could mean stronger in-game economies and more player involvement. In fact, by 2024, a community of over 400,000 Landverse players had already generated more than $15 million in revenue through sales of in-game items and NFTs.
Pre-Register and Future Plans
Want to play Ragnarok Landverse on Ronin? Pre-register now. Pre-registration is easy:
Visit rolg.maxion.gg/pre-register
Click “Pre-Register”
Create a Maxion account with your email
Link your Ronin Wallet to unlock possible mystery rewards
This is the entry point to Web3 gaming. The Ronin Wallet is a bridge where you can store and manage your on-chain items. For many, it will be their first Web3 game, where they can experience digital ownership and community-driven economies.
Zentry’s flagship studio, Maxion, has an official partnership with Gravity, the publisher of Ragnarok, to ensure the new game stays true to the original experience and story.
Zentry will also operate a node validator on the Ronin Network to help maintain and secure the blockchain infrastructure for these games.
This could be a big moment for Web3 gaming. If this succeeds, more developers might bring their IP into the blockchain. For players, it’s an opportunity to play a classic game again with the added benefits of digital ownership and a more connected economy.
Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.
Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.
The Sharjah Archaeology Authority (SAA) has introduced a metaverse platform that allows users to explore Sharjah’s cultural and archaeological heritage.
Named the “Archaeology Centre in the Metaverse,” it is the first platform of its kind in the world.
The platform offers an immersive educational experience, allowing users to visit key archaeological sites in Sharjah virtually. These include rock carvings in Khorfakkan and Kalba, as well as the excavation site known as the “Camel Cemetery.”
The platform provides audio explanations in both English and Arabic. It is currently accessible through Meta Quest, giving worldwide users an interactive way to learn about the region’s rich history.
This is not Sharjah’s first venture into Web3 technology. Last year, the Sharjah Government launched a platform for NFT-based certificates. This shift marks a move away from traditional paper certificates to more secure digital documents.
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Additionally, in 2023, Zepeto partnered with Sharjah Media City to enhance virtual innovation and content creation, further emphasizing Sharjah’s focus on digital transformation.
The adoption of Web3 technology is not limited to Sharjah. In June, Digital Dubai, in collaboration with ITU and UNICC, launched the Global Initiative on Virtual Worlds (GIVW). This initiative is aimed at using the metaverse to improve urban planning, tourism, and education.
Dubai has also embraced metaverse technology in its government services. Last year, the Dubai General Directorate of Residency and Foreigners Affairs (GDRFA) entered the metaverse, providing a virtual platform for service requests and interactions.
This move aligns with Dubai’s broader efforts to develop into a smart city. In 2022, Dubai introduced its Metaverse Strategy, which aims to make the city one of the world’s top 10 metaverse economies, create 40,000 new virtual jobs, and generate $500 million in revenue for the national economy.
A few years back, buying a domain name involved typing it into a search bar, paying a small annual fee, and hosting a website. Today, as the internet evolves into a more decentralized environment, traditional domain names have begun to share the spotlight with a new, blockchain-based alternative: NFT domains. These aren’t just web addresses—they’re digital assets that you can truly own, trade like collectibles, and even use to simplify crypto transactions. Whether you’re intrigued by the idea of an online identity that isn’t controlled by a single corporation or you’re excited about the prospect of turning a small investment into a profitable flip, learning how to register and trade NFT domains is a skill worth adding to your toolbox.
In this article, we’ll walk through what NFT domains are, why they matter, and how to register them without hassle. Then we’ll dig into the nitty-gritty of trading NFT domains for profit, covering everything from price research to negotiation tactics. Along the way, you’ll find tips to help you avoid common pitfalls and position yourself for success in this frontier of the decentralized web.
What Are NFT Domains?
If you’ve ever typed in a familiar “.com” or “.net” address, you know how traditional domains work. They rely on centralized registries and can be subject to censorship, takedowns, or control by third parties. In contrast, NFT domains—often known as Web3 domains—exist as tokens on a blockchain. Instead of “renting” your web address from a registry, you own it outright. Each NFT domain is recorded on a public ledger that can’t be altered by a single authority.
Services like the Ethereum Name Service (ENS), Unstoppable Domains, and Handshake are well-known platforms offering these blockchain-based domain names. They usually come with unique extensions like “.eth” or “.crypto,” and they can be used for more than just websites. For example, you can link an NFT domain to your crypto wallet, simplifying addresses into human-readable names. This flexibility helps make the decentralized web feel more accessible, memorable, and user-friendly.
Benefits of Owning an NFT Domain
True Digital Ownership:With NFT domains, you’re holding a token in your own wallet. There’s no middleman who can take it away, revoke it, or freeze it. This ownership model aligns perfectly with the broader philosophy of Web3—empowering users rather than giant corporations.
Branding and Identity:Whether you’re a content creator, a business owner, or a member of a DAO, having an NFT domain lets you establish a unique identity. It’s like a digital nameplate that can’t be forged or copied. As more people enter the Web3 space, owning a memorable NFT domain could become a powerful branding asset.
Simple Crypto Transactions:Managing long, complicated wallet addresses can be daunting. NFT domains allow you to send or receive cryptocurrency by simply typing in a short, easy-to-remember domain. This convenience can help onboard newcomers and foster trust in a decentralized ecosystem.
Potential for Long-Term Value:Just as certain traditional “.com” domains became immensely valuable over time, early NFT domain names—especially short, brandable, or keyword-rich ones—could appreciate in value. As Web3 adoption grows, the right NFT domain might become a valuable collectible or commercial property.
How to Register NFT Domains
Choose a Blockchain Domain Provider
Before you can own an NFT domain, you need to select a reputable provider. Popular platforms include:
ENS (Ethereum Name Service): Well-established, focusing on “.eth” domains.
Unstoppable Domains: Offers a variety of extensions, including “.crypto” and “.nft,” often sold as a one-time purchase without ongoing fees.
Handshake: A decentralized naming protocol with numerous TLDs.
When picking a provider, consider factors like transaction fees, domain availability, and the platform’s reputation. Look into the roadmap, community support, and whether the domain can integrate easily with other decentralized services.
Connect a Crypto Wallet
Registering an NFT domain typically requires a Web3-compatible wallet, such as MetaMask or Coinbase Wallet. If you don’t have one yet, set it up by:
Installing the browser extension or mobile app.
Writing down and securely storing your seed phrase.
Funding the wallet with a small amount of cryptocurrency (often ETH) to cover registration fees and gas costs.
Once funded, connect your wallet to the domain provider’s website. The connection is usually a one-click process.
Search and Select Your NFT Domain
Next, think about the name you want. Short, brandable domains tend to hold more long-term value. You might also look for terms related to emerging trends—anything from AI, GameFi, or Metaverse keywords could be valuable down the line.
Once you’ve brainstormed a few options, use the domain provider’s search tool. If your chosen name is available, you’ll see a price and the option to register it. If it’s taken, try variations or different extensions.
Pay the Registration Fee
When you’ve settled on a domain, proceed with the purchase. Depending on the platform, you might pay a one-time fee or an annual renewal cost. Always double-check the total amount, including any gas fees for the transaction. Confirm and sign the transaction through your wallet, and wait for the blockchain confirmation.
Verify Domain Ownership in Your Wallet
Once confirmed, the NFT domain will appear in your wallet’s NFT section or on your account dashboard. You now officially own it. It’s wise to keep your seed phrase secure and enable any available security features to protect your new digital asset.
How to Trade NFT Domains for Profit
Owning an NFT domain is only half the story. Trading these domains can be a way to capitalize on your foresight or luck in snagging valuable names early.
Understanding Marketplaces
To sell or buy NFT domains, you’ll need to visit NFT marketplaces. Big names like OpenSea often feature NFT domains, and there are also niche platforms focused solely on Web3 naming. Before listing, check the marketplace’s listing fees, user reviews, and liquidity. A platform with a large, active community increases the odds of finding a buyer at a fair price.
Pricing Your NFT Domain
Determining the right asking price can be tricky. Start by researching recent sales of similar NFT domains. Analyze comparable names, the length, and any brandable qualities. Keep an eye on market trends—when a certain technology or community is on the rise, names related to it often gain value. If you’re unsure, consider starting with a slightly higher price and being open to offers.
Listing and Marketing Your NFT Domain
Creating a listing is straightforward. Connect your wallet, choose a fixed price or auction format, and add a description that highlights the domain’s potential use cases. Then, promote your listing. Share it on social media, Web3 forums, or Telegram and Discord groups dedicated to NFT trading. Engaging with potential buyers and educating them on the domain’s value can help close a deal faster.
Negotiation and After-Sales Service
When offers roll in, don’t hesitate to negotiate. Ask yourself: Is this name likely to appreciate if I hold longer, or is it better to sell now and move on to another opportunity? Once you’ve agreed on a price, finalize the transaction through the marketplace’s standard process. Make sure the buyer knows exactly how to receive and manage the NFT domain. Professionalism and clear communication can earn you a good reputation as a seller, potentially leading to repeat buyers or referrals.
Investing Strategies and Tips for Long-Term Profit
Just like conventional domain investing, profits in NFT domains often hinge on patience, market knowledge, and foresight.
Identify Trends Early: If you anticipate a new blockchain network or a popular metaverse project, consider registering related terms before they explode in demand.
Diversify Your Portfolio: Don’t put all your resources into one theme or extension. Spread out across different platforms and name types, increasing your chances of success.
Hold Premium Names for Value Appreciation: If you own a short, brandable NFT domain or one tied to a long-lasting concept, holding might yield higher returns than a quick flip.
Stay Informed: Regularly read up on Web3 news, join NFT domain communities, and track domain auction results. The more you know, the better you’ll be at spotting profitable opportunities.
Common Mistakes to Avoid
Overpaying for Generic Names: Don’t fall into the trap of buying just any NFT domain because it’s cheap. Focus on memorable, keyword-rich, or brand-friendly names.
Ignoring Renewal Fees (if applicable): Some NFT domains, like ENS names, may require periodic renewals. Failing to renew might cause you to lose the domain.
Neglecting Security: Keep your wallet and seed phrases safe. A compromised wallet means losing your domains.
Falling for Scams: Always use trusted platforms and double-check URLs before connecting your wallet. Scammers often create fake phishing sites to trick new investors.
Frequently Asked Questions (FAQ)
Q: What blockchain platforms support NFT domains?A: Leading options include Ethereum Name Service (ENS) for “.eth” names, Unstoppable Domains for extensions like “.crypto,” and Handshake for a variety of unique top-level domains.
Q: Do NFT domains expire?A: It depends on the platform. ENS names typically require periodic renewals, while providers like Unstoppable Domains offer NFT domains as a one-time purchase without ongoing fees.
Q: Can I host a website on my NFT domain?A: Yes. Many NFT domain platforms support hosting decentralized websites, although it may require additional steps like IPFS hosting and some technical know-how.
Q: Are NFT domains guaranteed to increase in value?A: No guarantees exist. The value of an NFT domain depends on market trends, brandability, scarcity, and buyer interest. Like any investment, there’s a risk involved.
Q: How do I transfer my NFT domain to another wallet?A: You can transfer ownership just like any other NFT. On your marketplace’s platform, select the “transfer” function, enter the recipient’s wallet address, and complete the transaction.
Conclusion
NFT domains represent a new frontier where ownership, digital identity, and investment potential intersect. Learning how to register NFT domains and understanding how to trade them profitably can give you a foothold in the evolving Web3 ecosystem. By recognizing trends, picking memorable names, staying organized, and approaching negotiations thoughtfully, you have the chance to reap both practical and financial rewards.
As the decentralized web continues to grow, early adopters who grasp the value of NFT domains may be well-positioned for long-term success. Now is the perfect time to explore these unique digital assets, do your research, and carve out your own place in the expanding world of Web3.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Owen Skelton.
Owen Skelton is an experienced journalist and editor with a passion for delivering insightful and engaging content. As Editor-in-Chief, he leads a talented team of writers and editors to create compelling stories that inform and inspire.
As we spend more time online—collecting digital goodies, and exploring virtual worlds—we might need better ways to prove who we are and protect what we own. Passwords and security questions don’t always cut it anymore. That’s where a new idea comes in: Biometric NFTs. These special tokens combine blockchain technology with unique parts of your biology, like your face or fingerprint, to keep your digital assets safe.
What Are Biometric NFTs?
An NFT is like a one-of-a-kind digital asset stored on a blockchain. It could represent a piece of digital art, fractionalized real estate, or an asset in a video game. Now imagine tying an NFT to your biometric data—for example, your facial features. This creates a direct link between you (a unique human) and your NFT. Instead of just hoping a password is strong enough, your face or fingerprint helps prove you own something. In other words, it’s a more personal and foolproof way of proving ownership and verifying identity in the digital world.
Why Better Security Matters
Digital assets—from rare digital art and virtual collectibles to entire digital worlds—have greatly increased popularity and value. But as more people buy, sell, and trade these items, the risk of fraud and theft also grows. Traditional logins can be guessed or stolen; even two-factor authentication can fail against determined scammers.
Biometric NFTs could add an extra layer of security ensuring that no one else can slip into your accounts or snatch your tokens without passing the ultimate test: being you.
How Biometric Authentication Works for NFTs
Biometric authentication uses physical traits that are uniquely yours. It might scan your face, read your fingerprint, or listen to your voice. When you access your NFT marketplace or digital wallet, a quick facial scan can replace typing long passwords.
The blockchain then confirms the NFT belongs to the person with these unique traits. Because these traits are hard to fake, scams and break-ins are much less likely.
When you want to transfer or sell your NFT, you need transaction confirmation. Using your biometric data means you’re essentially “signing” the transaction with your own face or fingerprint.
This biometric digital signature ensures that even if someone got hold of your device, they still couldn’t move your NFT without passing that biometric check.
Government and Services
Biometric NFTs can also help governments and large organizations manage identities online. Instead of carrying multiple IDs or memorizing many passwords, you could use a single token tied to your face or fingerprint.
Governments could control access to sensitive information or secure virtual reality spaces, confident that only the right person gets through. This kind of identity management could streamline everything from logging into public services to proving who you are in a digital voting booth.
Looking Ahead: Virtual Worlds and Beyond
The future looks bright for NFT technology. As we spend more time in virtual reality spaces—whether for entertainment, shopping, or work—we’ll need better ways to confirm who we are.
Biometric NFTs could make these virtual experiences more trustworthy. When you enter a virtual world to see a digital art gallery, for example, your face or voice could let you in, give you access to your unique collection, or even unlock special features.
Privacy Matters: Protecting Your Data
Of course, nobody wants their personal information floating around online. That’s why privacy-preserving methods are so important. An example comes from a South Korean company called Privasea, which developed an app called ImHuman.
This app uses fully homomorphic encryption (FHE), a fancy way of saying it can process your biometric data—like a face scan—while it’s still encrypted. In other words, even if someone got into the system, they’d never see your raw data.
With ImHuman, you simply use your phone’s camera to prove you’re a real, unique person. The app then creates a secure, encrypted NFT tied to your biometric data. You can use this NFT as proof without revealing your name, email, or other personal information. Privasea is currently working on its mainnet and testnet to bring this technology to more users, letting them safely access services, airdrops, and rewards in the crypto space.
Putting It All Together
Combining biometrics with NFTs and blockchain technology may sound complex, but it could be the key to a safer digital future. Instead of trusting easily stolen passwords, we trust something unique to each of us—our biology—backed by the secure mathematics of encryption and blockchain.
As developers figure out the best ways to store and manage this data, we could see more tools that let everyday people, governments, and companies tap into biometric NFTs.
Biometric NFTs offer a fresh, practical way to protect digital items, confirm our identities, and ensure we deal with real humans online. They take the security of NFTs to a higher level, making it easier to buy and sell valuable collectibles, manage digital identities, and interact safely in virtual environments.
Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.
Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.
Dates: November 15 – December 21, 2024Location: Pace Gallery, 508 W 25th Street, New York, NY
The Pace Gallery in New York City will host Irving Penn: Kinship, a thoughtfully curated exhibition by artist Hank Willis Thomas, celebrating the extraordinary career of legendary photographer Irving Penn. Running from November 15 to December 21, 2024, the show offers an intimate look at Penn’s timeless works, curated and contextualized by Thomas to highlight the universal humanity that courses through Penn’s oeuvre.
Irving Penn: A Master of the Lens
Irving Penn (1917–2009), celebrated for his transformative contributions to fashion photography, portraiture, and still life, left an enduring legacy over a 70-year career. His work for Vogue redefined visual storytelling in the postwar era, showcasing both innovation and technical brilliance. Beyond the pages of magazines, Penn pioneered methods in the darkroom, particularly through platinum-palladium printing, creating works that exude richness and depth.
This exhibition places Penn’s global travels and intimate portraiture, including images from his Worlds in a Small Room series, at its heart. These works, produced during Penn’s travels to places like Cuzco, Morocco, and New Guinea, provide a window into his approach of using a portable studio to create portraits imbued with dignity and authenticity.
Hank Willis Thomas: Curating Through Connection
Thomas, known for his multidisciplinary work that interrogates perspective and framing, brings a fresh curatorial lens to Penn’s work. Inspired by Penn’s ability to capture the essence of his subjects in a single frame, Thomas situates the photographs within a star-shaped installation. This innovative structure echoes the simple plywood studio corners Penn used and invites viewers into a shared space of connection.
Thomas’s curatorial statement highlights Penn’s ability to elevate the ordinary:
“In Penn’s work, I see a profound reverence for the overlooked and the mundane. By juxtaposing these images, I want to highlight how Penn’s meticulous attention to detail elevates the ordinary to the extraordinary.”
Highlights of the Exhibition
Portraiture and Fashion: From Penn’s iconic images of cultural luminaries to his still lifes of everyday objects, the exhibition offers a comprehensive view of his artistic range.
Innovative Presentation: Thomas’s installation encourages viewers to engage with Penn’s work as an immersive experience, bridging the gap between subject and observer.
Universal Themes: The pairing of Penn’s photographs reflects a transcendent kinship across cultures, eras, and subjects.
A Broader Artistic Context
Concurrent with Kinship, Thomas’s own solo exhibition, Kinship of the Soul, will be on view at Pace’s London gallery. A retrospective of Penn’s work, organized by The Metropolitan Museum of Art in collaboration with The Irving Penn Foundation, will also open in Spain on November 23, 2024. These overlapping exhibitions underscore the lasting impact of Penn’s artistry and his continued relevance in the global art conversation.
About Pace Gallery
Since its founding in 1960, Pace Gallery has become a beacon for modern and contemporary art. With locations spanning New York, London, Hong Kong, and Tokyo, the gallery fosters connections between audiences and groundbreaking artists. Pace’s commitment to its artists is reflected in its dynamic programming, which includes exhibitions, public installations, and scholarly publications.
TLDR
Irving Penn: Kinship at Pace Gallery in New York (November 15–December 21, 2024) showcases the iconic photography of Irving Penn, curated by Hank Willis Thomas. The exhibition explores themes of connection and humanity through an innovative installation echoing Penn’s portable studio. Penn’s celebrated career, spanning fashion, portraiture, and travel, is highlighted alongside concurrent exhibitions in London and Spain.
Tags: Irving Penn, Hank Willis Thomas, Pace Gallery, New York Art Exhibitions, Photography, Fashion Photography, Portraiture, Platinum-Palladium Prints, Worlds in a Small Room, Contemporary Art
SK Telecom, South Korea’s largest mobile operator, has decided to shut down its metaverse platform “ifland” to shift focus toward artificial intelligence (AI).
The company confirmed that “ifland” will be fully closed by March 31, 2025, with services gradually being discontinued leading up to that date.
SK Telecom also stated it will refund users for any paid content, including virtual items like “stones” and customizations.
An official from SK Telecom explained: “We will further accelerate the transition to a global AI company by utilizing the accumulated metaverse capabilities to strengthen AI competitiveness.”
To support its AI ambitions, SK Telecom recently invested $3 million in Twelve Labs, a startup specializing in AI video analysis.
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The closure of “ifland” comes after nearly four years of operation, following its launch in 2021. Over this period, SK Telecom introduced several initiatives for the platform.
In 2022, the company sought to expand “ifland” globally, aiming to build international partnerships and offer localized content.
In 2023, SK Telecom made another push to expand, adding 16,000 new virtual items, integrating non-fungible tokens (NFTs) via “TopPort,” and introducing a virtual currency called “Stone.” During the same year, the company announced international collaborations with telecom and tech giants to create tailored experiences.
The shutdown isn’t surprising, as other companies have also scaled back their involvement in the Web3 space.
Earlier this month, Nike’s NFT studio RTFKT revealed plans to wind down operations by January 2025. Similarly, Kraken plans to close its NFT marketplace by February 2025. Other companies, including Immutable, Lacoste, Reddit, Starbucks, and GameStop, have also made similar moves.
NFT staking has become a popular trend in the blockchain space that allows users to earn passive income from their digital collectibles. Instead of just holding NFTs in your wallet, you can “lock” them up on specialized platforms to get rewards over time. This turns a static investment into a dynamic asset that gains value even when you’re not trading. In this post we’ll go over the basics of NFT staking, how to get started and share some tips to help you get the most out of it.
The Basics of NFT Staking
What is NFT Staking
NFTs are unique digital assets often representing art, virtual collectibles or even in-game items. Unlike standard cryptocurrencies, each NFT has its own attributes. NFT staking is depositing these tokens into a dedicated smart contract or platform. In return you get staking rewards – often in the form of native platform tokens or other digital assets – for holding your NFTs in a safe environment.
How NFT Staking Works
It’s similar to traditional crypto staking but with a twist: you’re using NFTs instead of fungible tokens. To stake your NFTs you connect your crypto wallet to an NFT staking platform, select which NFTs to lock up and then wait while the smart contract distributes rewards. Behind the scenes your NFTs are helping to support the platform’s ecosystem, liquidity and overall market health.
Key Benefits of Staking NFTs
Passive Income: Instead of leaving your NFTs idle, staking gives you consistent passive income.
Supporting Project Ecosystems: By staking NFTs you’re actively supporting the projects and communities behind them.
Long Term Value Appreciation: Over time as the platform grows and the NFTs appreciate you may see higher returns on your investment.
NFT Staking vs Traditional Investments
Passive Income Generation
Traditional investment vehicles like savings accounts give very low returns. NFT staking gives you much higher yields so it’s a great option for those looking to diversify their portfolio. With crypto passive income opportunities like NFT staking you can beat many traditional financial instruments.
Portfolio Diversification
Leveraging just stocks or bonds can be risky, especially in volatile markets. Adding NFTs to your investment strategy gives you an alternative asset class that behaves differently from traditional investments. Diversifying your portfolio with NFT staking helps to spread risk and stabilize long-term returns.
Supporting the NFT Ecosystem
When you stake NFTs you’re not just getting rewards – you’re also supporting the growth and sustainability of the project. This involvement can extend the project’s life and market value and benefit everyone involved.
Common NFT Staking Models and Approaches
Single Asset Staking
This is the simplest model where you stake one NFT. It’s a great starting point for beginners as it’s easy to understand and manage. You stake one NFT and get rewards based on that asset’s contribution to the network.
Pool Staking or NFT Yield Farming
Yield farming with NFTs is pooling multiple NFTs together, either on your own or with other investors. By combining assets you can tap into more liquidity and potentially get higher staking rewards. This model can be complex and is suited for more advanced investors.
Staking Through NFT Marketplaces
Some NFT marketplaces have staking built in to their platforms. This makes it easy for newbies to start earning passive income from NFTs right away.
Comparing Popular NFT Staking Platforms
Criteria for Choosing a Platform
When choosing an NFT staking platform consider:
Security: Look for audits, reputable partners and solid smart contracts.
Liquidity: Higher trading volumes means more stable and better rewards.
User Interface: A beginner-friendly platform makes staking easier.
Fees and Terms: Check out platform fees, lock-up periods and withdrawal conditions.
Read Platform Reviews and User Feedback
Before you stake your NFTs check out community forums, Reddit and Discord channels for unbiased opinions. User reviews will help you spot potential pitfalls and discover hidden gems. Do your research.
A Step-by-Step Guide to Staking Your NFTs
Set up your Crypto Wallet
You’ll need a compatible crypto wallet like MetaMask to store and stake your NFTs. After installation, store your seed phrase in multiple offline locations. Consider enabling 2FA for extra security.
Selecting NFTs to Stake
Not all NFTs are created equal. Look for assets with strong community support, established project roadmap and utility within their ecosystem. Risk and reward balancing is key: a rare NFT with high potential upside might give better returns than a common one.
Connecting to a Staking Platform
Go to your chosen platform, connect your wallet and approve the smart contract interactions. Once you’ve confirmed the transaction your NFT will be staked and you’ll start earning rewards.
Monitoring Your Staking Rewards
Keep an eye on your staking dashboard to see your earned rewards, market fluctuations and NFT values. Monitoring performance will help you decide when to unstake, re-invest or move your NFTs to other platforms for better returns.
How to Optimize
Timing the market
Market conditions affect your staking rewards. Staking your NFTs during a bull run will give you higher returns as demand increases. Stay up to date with market news, DeFi and NFTs trends and project announcements.
Diversify Staked Assets
Spread your NFTs across multiple platforms and projects to minimize risk. This way, even if one platform underperforms, your overall returns will be stable.
Re-invest and Compound
As you earn rewards, consider re-investing them into new NFTs or additional staking pools. Compounding will accelerate your portfolio growth over time.
The Cons of NFT Staking
Market Volatility
NFT values can fluctuate wildly. If you’re earning staking rewards and the underlying NFT value drops your overall returns will suffer. Consider risk management strategies like setting target sell points.
Liquidity
Some platforms have lock-up periods so you can’t liquidate your NFTs immediately. If you need quick access to funds, illiquidity can be a problem. Always check the platform’s terms before staking.
Regulatory and Tax
As NFT staking and crypto passive income models evolve, so do the regulations. Keep records of your gains and losses and consult a tax professional to ensure you comply with local laws.
What’s Next for NFT Staking and DeFi?
Cross-Chain Staking
The future of NFT staking might be cross-chain solutions. This would give investors more flexibility to move NFTs and capture opportunities on multiple chains.
Metaverse and Gaming NFTs
As the metaverse grows NFT staking will intersect with gaming NFTs. Imagine earning passive income by staking in-game items or virtual land, creating new revenue streams and adding value to digital worlds.
Changing Rewards
Future staking platforms will have dynamic reward structures and incentives. From special NFTs to flexible APYs, the models will get even better.
Start Earning Passive Income With NFT Staking
NFT staking is a game changer for digital collectibles. Instead of sitting in your wallet, NFTs can be engines of passive income, boosting your crypto portfolio and supporting the most innovative blockchain projects. By choosing good platforms, doing your research and diversifying your assets you can navigate the NFT staking space.
Get started today: set up your wallet, choose good NFTs and start earning passive income from these digital assets. With planning, informed decisions and a long-term view, NFT staking can be a key part of your crypto strategy.
FAQs
Q: Is NFT staking safe?
A: Staking can be safe on good, audited platforms. Always research, read the security audits and understand the platform’s reputation before committing.
Q: How much can I earn staking NFTs?
A: It varies. NFT rarity, platform APY and market conditions all come into play.
Q: Are staked NFTs locked up?
A: Some platforms have lock-up periods, others let you unstake anytime. Check the terms before you commit.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Owen Skelton.
Owen Skelton is an experienced journalist and editor with a passion for delivering insightful and engaging content. As Editor-in-Chief, he leads a talented team of writers and editors to create compelling stories that inform and inspire.
Source: KOKODI Games
