Monday, January 24, 2022

How can I buy NFT in Australia

How can I buy NFT in Australia

In a magical world where apes ruled the metaverse, a magical thousand-year-old tree sprouted cute baby apes. A flock of storks was the loyal companions of the thousand-year-old tree. One sunny day, a total of 9999 baby apes were born. Storks followed their inner call and delivered all the baby apes. The families were so grateful and elated that they wanted even more baby apes. All were delivered and all lived a joyous life with their parents.

TOP 5 hottest NFT projects in 2021

The Collins Dictionary word of the year is NFT, an abbreviation for a “non-fungible token” that’s traded in the cryptocurrency blockchain. It beat out other timely phrases like “climate anxiety” and “hybrid working.”

An NFT is a certificate that represents ownership of a digital asset, such as a work of art or collectible. Virtually any digital file can be transformed into an NFT, from GIFs and video clips to digital artworks and memes — former Twitter CEO Jack Dorsey’s first tweet was sold as an NFT for $2.9 million, Reuters reported. Below are the Top 5 NFT projects.

This tool helps in quickly organizing all the metadata related to a newly dropped collection and thus, help in a better analysis of that collection.

What is NFT?

To kick-start the topic, we believe it is essential for you all to understand NFTs if you don’t know about them.

NFT stands for Non-Fungible Tokens, which means that NFT is a token that cannot be exchanged or transferred due to its unique properties.

NFT has been in the market since 2015, but it has gained attention in recent years due to the increase in the cryptocurrency market. NFTs trade in digital collectables like games, art and music.

Did you know that many international celebrities have also stepped into NFTs?

Does NFT prevent copying of art?

NFT: The Mona Lisa of crypto-world

Recently, there's a new Ethereum blockchain-based unit of data based around digital art and other collectables. Called Non-fungible Tokens (NFT), some of these tokens are being sold for as high as 69 million US dollars. This has led many to claim NFT's as the digital answer to collectables, while sceptics think it a fad that will soon die out.

What is an NFT?

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In economics, fungibility is a good or asset's ability to be interchanged with other individual goods or assets of the same type. Simplified, it means something of value can be exchanged for another thing holding an equal value. For example, a 100 Taka note is fungible, as it can be exchanged for two 50 Taka notes. On the other hand, a famous painting such as the Mona Lisa by Leonardo da Vinci is non-fungible, as it is a one-of-a-kind artwork that is impossible to reproduce. NFT's are such "one-of-a-kind" assets in the digital world that can be bought and sold for real money.

How does an NFT work?

One of the main reasons art such as the Mona Lisa is deemed so valuable is because it is impossible to replicate. And while it is possible to take a picture of the painting or buy a print, both methods produce significantly different copies from the original.

Things get more complicated when it comes to digital artworks. A digital art —may it be a picture or a video— can be endlessly replicated, with one copy being identical to the other. This makes it hard to put a value on a digital collector item, as it is almost impossible to tell which copy was the first. NFT, solves this issue by creating a blockchain-based digital certificate for an artwork. And since such a certificate is virtually impossible to forge, they give the art a unique identifier similar to that of a physical painting.

Does NFT prevent copying of art?

No. Any item sold as an NFT can still be freely copied and shared. In many cases, the artist even retains copyright ownership. The buyer of an NFT receives a digital certificate that proves he owns the "original" work. Many compare the practice to purchasing a signed copy or an autograph.

What is the point?

Much like a rare car or a painting, NFTs are a speculative asset. Meaning a buyer can later sell it for a profit.

However, many are on the fence about the NFT's success. David Gerard, the author of Attack of the 50-foot Blockchain, told BBC he saw NFTs as buying "official collectables", similar to trading cards. Beeple - real name is Mike Winkelmann -, is an artist whose art NFT ended up selling for $69 million at an auction. In an interview with the BBC, he also said: "I actually do think there will be a bubble, to be quite honest… And I think we could be in that bubble right now."

“NFTs are proofs of ownership stored on the blockchain,” Ekin Genç explained for VICE, “that are supposed to show whose wallet owns which digital file, how much it cost to receive it, and who has previously owned it.” The price of NFTs, as they are attached to unique images, he continues, have skyrocketed recently with everyone from musicians to CryptoPunks, and other creatives churning them out. Consider British producer Mura Masa, who participated in an NFT art exhibition at the beginning of March 2021. “It's fair enough saying, ‘Oh yeah, NFTs are a way for finance bros to buy crypto art for ridiculous money,’” he told VICE, “[but] the devaluation of art, music, creative work in general in the digital age is in my opinion a huge problem, and NFTs present a potentially interesting alternative to music streaming, etc.” So, call it what you will, but you can’t say that the art of crypto isn’t trying.  

Where to Buy Affordable NFT Art

It took me a minute to understand cryptocurrency. I mean, the Dogecoin, blah blah, Elon Musk, I get it, but I still think a non-fungible token (NFT) sounds more like a kind of mushroom trade run by a bridge troll than the future of odorless, tasteless currency. We lick our pennies in this house.

“NFTs are proofs of ownership stored on the blockchain,” Ekin Genç explained for VICE, “that are supposed to show whose wallet owns which digital file, how much it cost to receive it, and who has previously owned it.” The price of NFTs, as they are attached to unique images, he continues, have skyrocketed recently with everyone from musicians to CryptoPunks, and other creatives churning them out. Consider British producer Mura Masa, who participated in an NFT art exhibition at the beginning of March 2021. “It's fair enough saying, ‘Oh yeah, NFTs are a way for finance bros to buy crypto art for ridiculous money,’” he told VICE, “[but] the devaluation of art, music, creative work in general in the digital age is in my opinion a huge problem, and NFTs present a potentially interesting alternative to music streaming, etc.” So, call it what you will, but you can’t say that the art of crypto isn’t trying.  

You can use various currencies to buy NFTs, including ye olde credit card, although the most common way they're purchased is, unsurprisingly, with crypto. If you’ve never dabbled in crypto, check out well-vetted sites like Coinbase that will walk you through the steps of investing in currencies like Ethereum and Bitcoin. Above all, we’re here to dispel the myth that you have to be super rich and/or a Finance District Bro to dabble in the world of NFT art collecting. Turns out, there are tons of digital sellers and marketplaces for crypto art that feature rad pieces by people like you and me (so, bad! JK) and offer a range of themes and price ranges. 

If you’re looking to become the proud owner of some NFT art, the following vendors are a solid place to start, both for their range in price and content, and their familiarity. I mean, who doesn’t love eBay? Hop on the hoverboard, and let’s go shopping for some pixels, whether you have a budget of $3 or much more…

Many are jumping at the opportunity to make landmark moments in internet culture their own digital asset and transforming the blockchain into an immaterial museum in the process. Minting these moments as NFTs contextualizes them in a digital form that reflects the culture they produced.

What is an NFT? How Non-Fungible Tokens Took Over Crypto

nft non-fungible token

So what exactly are NFTs? Non-fungible tokens certify the ownership of a one-of-a-kind piece of digital media — most commonly art, but can include anything from photography, music, memes, podcasts, tweets, etc — when NFT’s are purchased at auction, they are subsequently “minted” on the blockchain, where they become a file that cannot be manipulated, edited, deleted, or copied in their original form.

NFTs exist on the Ethereum blockchain (ETH), and this information about who owns them, what kind of media they are, and who created them makes them exist differently than an ETH coin. Another crucial aspect of this difference is the token’s non-fungiblity.

What are non-fungible tokens?

Grecian Delight supports Greece

Their non-fungibility means that these tokens are unique and singular, and cannot be traded with an identical currency. Cryptocurrencies like bitcoin or fiat currencies like the U.S. dollar, where each coin or ten dollar bill are identical in value to each other, are considered fungible.

The concept of non-fungibility has always existed in analog forms, in fact, it is part of what drives the value of rare, one-of-a-kind trading cards and collectors items, and, most significantly, fine art.

The art market has always been built on the concept of scarcity and non-fungibility– paintings are unique, original objects, and while some prints and photographs can run in editions of up to a dozen or more, they still represent only a handful of highly sought after works in a huge market of collectors — the less there are of them, the more they’re worth.

This fundamental compatibility between the model of the art market and that of NFTs has transformed both art collecting and cryptocurrency, synthesizing the two into a booming new community of artists and investors which include everyone from celebrities like Elon Musk’s partner Grimes, Twitter CEO Jack Dorsey, and the digital artist Beeple, who sold one of his NFTs for $69 million at the traditional fine art auction house Christie’s.

The digital existence of NFTs, and the system by which they are minted on the Ethereum blockchain, has lead the crypto community to explore the limits of ownership and digital object-hood.

Dorsey sold the first tweet he ever made on his now ubiquitous social media platform Twitter for over $2.9 million dollars. The tweet reads “just setting up my twttr.”

Many are jumping at the opportunity to make landmark moments in internet culture their own digital asset and transforming the blockchain into an immaterial museum in the process. Minting these moments as NFTs contextualizes them in a digital form that reflects the culture they produced.

NFTs have been met with criticism despite their popularity

But NFTs are far from perfect. These digital assets and the high prices they fetch have created mountains of discourse. Much of that conversation is centered around what it means to buy a work of art or media that is non-physical, and in the case of images, videos, and posts like Dorsey’s, can be easily saved as a .JPG or accessed for free on twitter.

Basically, why would you spend $69 million for a digital art work that you could drag on to your desktop for no cost? Well, the response is a simple one: no matter how easy it is to view or save a copy of the NFT someone owns, they will always be the sole owner of it. Even in the case of a Van Gogh or a Picasso, millions of people can own prints of the Starry Night or Guernica, but none of those people own the original artwork.

Here’s where you might be thinking, well, those are paintings, and NFTs are entirely digital — at least the owners of those pieces get a physical object to call their own.

And you’d be right. NFTs hinge on a belief in the power of investing in ownership more than anything. The crisis of value involved in NFTs’ object-hood is in the eye of beholder: many collectors relish in the support of purely digital work that utilizes contemporary ways of creating and see ownership as the only true lasting aspect of art collecting, rather than the hoarding of physical objects.

NFT

Another thing to consider is that physical works of art are often kept in storage, out of view from the public or their owners, and are frequently loaned out by their owners to institutions for shows. When artworks are viewed as assets, the imperative is often to own them for long periods of time while they become more valuable during the course of an artist’s career or post-mortem legacy — living with the physical works is secondary.

NFTs have also faced backlash over their toll on the environment, a criticism they share with Ethereum and cryptocurrency at large. The debate over the energy usage involved in minting NFTs rocked the art world, causing heated denouncement from artists who believed the tokens to be a “ecological nightmare pyramid scheme.”

One website, cryptoart.wtf, dedicated itself to tracking the energy consumption involved in each NFT minted on the blockchain, but this information became so inflammatory that the site was forced to take itself offline, leaving a note that read:

“CryptoArt.wtf was designed to share the best available information about the energy use and environmental impact of the growing Proof-of-Work (PoW) based CryptoArt and non-fungible token, or NFT markets. Just as we can find information regarding the ecological costs of flying, iPhones, watching Netflix, or training Artificial Intelligence models, I believe similar information should be available for CryptoArt, so that we can understand the impact of our actions, and we can make informed decisions. Unfortunately, the information on this website has been used as a tool for abuse and harassment, so I am taking the site offline.”

The site’s findings were incendiary throughout the NFT community, with one entry stating that a single NFT of a digital animation of a cat, called “Space Cat,” had the same carbon footprint as an EU resident’s electricity consumption for two months.

Some have objected to the outrage, saying its logic is misguided. Joseph Pallant, founder of the nonprofit Blockchain for Climate Foundation, told the Verge that NFTs should be compared to other energy consumption scenarios where cause and effect becomes hard to trace:

“If you’re on the plane, you’re obviously responsible for a portion of its emissions. But if you hadn’t bought the ticket, the plane probably would have taken off with other passengers and polluted the same amount anyway.”

By Lory Kehoe, Zakie Twainy

By Lory Kehoe, Zakie Twainy

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What do Jay-Z, Mark Cuban, Marc Benioff, Google Ventures, and Andreesen Horowitz have in common? They’ve all recently invested in non-fungible token (NFT) marketplaces.

NFTs are virtual data units stored on a blockchain—often used to certify unique ownership of a digital asset that could represent a myriad of digital and real-world items, such as art, music, games, videos, or collectibles. 1 The recent surge of interest in NFTs, which the media has described as a “bubble,” is most clearly illustrated by a couple of recent events. 2 For instance, Mike Winklemann, a digital artist known as Beeple, sold an NFT for approximately $69 million through Christie’s auction house in March 2021. This made him one of the top three most valuable living artists, despite, before October 2020, the highest price paid for one of his prints being $100. 3 Similarly, a New York Times reporter sold an NFT image of his column on NFTs for more than $558,000.

Developments such as these have created an interest in the sector, as demonstrated by Google Trends (see Figure 1). 5

Business concept - high speed abstract MRT track of motion light for background in tokyo, japan

Source: Google Trends. Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as popular.

With interest surging, buyers are flooding the market, incentivizing more digital artists to create and sell their art as NFTs. In early May, the most searched NFT term on Google was “buy nfts,” but the second most searched was “sell nfts.” 6 The desire to be able to trade these assets has created the need for the infrastructure to perform these transactions. Enter the NFT marketplace, a website or mobile application that connects NFT sellers and buyers and facilitates the overall shopping experience.

Top Venture Capitalists Are Investing in NFT Marketplaces

In the last four months, notable investors and celebrities alike have made investments in these NFT marketplaces, as shown in Figure 2 below, which signals that NFTs may not be a “fad” as originally believed.

Marketplace Models

The operational models of the NFT marketplaces vary quite widely.

While there are more traditional NFT marketplaces, platforms that simply connect buyers and sellers, similar to eBay or Etsy, there are also hybrid marketplaces, in which a company’s business model of creating digital experiences is supported by the NFT marketplace itself, and specialized marketplaces that focus on one type of asset.

Prominent and traditional marketplaces such as OpenSea and Rarible have a spectrum of items for sale, e.g., art, trading cards, and collectibles, for wide ranging prices. As of the publication of this paper, NFTs for sale on those platforms ranged from a Bored Ape Yacht Club NFT that listed for over $18,000, to an image of Elon Musk’s face superimposed on DaVinci’s painting Salvatore Mundi with one hand holding a dollar bill and the other holding a fishbowl with a jumping Dogecoin in it for approximately $148. The OpenSea and Rarible models differ, however, in that OpenSea includes the minting of the NFT as part of their process, 7 whereas with Rarible, a seller has to pay to mint the NFT before the sale. 8

Hybrid marketplaces, such as Genies, which closed a $65M funding round in May 2021, is a company that allows buyers to create custom avatars and is building tools and a marketplace where a consumer can create or buy customized wearable NFT goods, such as digital Gucci and North Face jackets, for those avatars. 9 Dapper Labs, as another example, owns a series of gaming franchises and also co-created and operates Top Shot, an NFT marketplace with over $500 million in sales for animated trading cards for the NBA. 10

Moreover, some marketplaces specialize in only a single type of NFT. For example, SuperRare, which raised $9M, is a marketplace that only focuses on higher-end digital art and has a more sophisticated user interface with more curated inventory. During a recent four-hour period, for example, SuperRare listed prices ranging from $564 to $1.2 million. 11

Finally, companies such as Bitski are developing technology that helps NFT creators set up their own storefronts, similar to Shopify in the retail space. 12

What Does “Ownership” of NFTs Offer?

Once a consumer purchases an NFT from one of these marketplaces—what does that mean?

With the purchase of an NFT, you are buying a verifiable digital token that represents the buyer’s ownership of the asset on that blockchain. The "non-fungible" part of the name means the tokens are unique and cannot be exchanged, which sets them apart from fungible “tokens,” such as cryptocurrencies, that can be used as a medium of exchange. 13 However, even the buyer purchases an NFT representing a share of a particular piece of digital art, you are not necessarily acquiring any intellectual property rights in the art itself.

Jordan Romanoff, BNY Mellon’s Vice President and Counsel for Intellectual Property, Brand Protection and Marketing, explained.

“When lawyers talk about copyright rights, whether for a piece of digital art or a movie, we are referring to the ‘bundle of rights’ that a copyright owner receives under the law. These rights include the right to reproduce the work, make a derivative (or a sequel) of the work, distribute copies of the work, publicly perform the work, or publicly display the work. With NFTs the issue is a bit more complicated.”

He made the comparison of rights obtained via ownership of physical art, such as a Jeff Koons sculpture, versus shares of digital art purchased as an NFT.

“With the purchase of a piece of physical art (such as a sculpture), you naturally have the right to display the art in your home or possibly exhibit it at a museum. However, if you want to distribute t-shirts using an image of the sculpture or reproduce the sculpture for a friend, you may not have the right to do so as the copyright rights may still belong to the artist. Applying those same principles to NFTs, the purchase of an NFT for a piece of digital art does not inherently provide the NFT owner with any of the copyright rights I described earlier—not even the right to display the digital art in your home.”

So, what can be done to solve for this issue of ownership? In general, the rights that flow to the purchaser of a NFT are determined by the copyright owner, but the transfer of rights can be facilitated by the marketplaces themselves. 14 For example, Dapper Labs, operator of NBA Top Shot platform, created a template NFT license that NFT sellers can adopt to outline what rights are being licensed to the NFT buyer. The license clarifies that the buyer of the NFT receives (i) a personal license to use and display the art associated with the NFT, as well as (ii) a commercial license to make merchandise that displays that art associated with the NFT, a license subject to a $100,000 gross revenue per year limit. 15

Romanoff continued, “The issue of IP ownership can also play a role in determining whether an NFT can even be issued. If the underlying digital asset involves the work of multiple copyright owners, the ‘seller’ of the NFT would need authorization to issue the NFT from each of the rights owners as a derivative work. For example, when TikTok star Nathan Apodaca wanted to sell an NFT of his viral skateboarding video which included the Stevie Nicks song Dreams, and the Ocean Spray logo, it was reported that he was required to remove the music and blur out the logo before the NFT could be issued.” 16

Beyond Art: Potential Financial Implications


If you’re not an art fan, you still may want to pay heed to NFTs. Ultimately, NFTs are a vehicle by which one can sell specific ownership rights of an asset, without granting full benefits of the ownership itself, provided that the asset’s value is not dependent on physical use. Although NFTs are trending primarily in the art world at the moment, there are other assets , such as diamonds, gold or land, that could be the next NFT trend. The marketplaces will need to adapt to these new asset categories to survive.

Dylan Hunzeker, an investor at Struck Capital Crypto, which invested in NFT marketplace Pylons, explained her vision for the future of the NFT marketplaces: "In the future, there will be numerous marketplaces for NFTs, in the same way that there are numerous stores for goods and services. Further, NFTs will transform the global macro economy by becoming a key component in Web3 applications."

Lory Kehoe, BNY Mellon Director of Digital Assets and Blockchain, concurs with Hunzeker’s sense that the NFT market will expand.

“NFTs are digital assets where we are seeing increased interest from our clients, whether that be NFTs of art or sporting moments,” said Kehoe, “Look at Kinsale Spirit’s recent auction of a digital representation of a rare cask of 20-year single malt which raised over €80,000. 17 The convergence of digital and physical experiences are what NFTs can enable. As digital assets continue to evolve, we’re closely watching NFTs and exploring how we support clients today, and in the future.”

Whether you want to fight your way to dominance or take a different path, the game will cater to different styles. With three distinct characters, businessman, scholar, and fighter to select from, and lots of possibilities to alter them, or change the character. Ultimately, players themselves can create their own narratives. Moreover, the game has been balanced so every type of player activity makes a difference.

Ertha NFTs

Ertha is divided into 350,000 NFT hexagons which generate rewards for landowners for every transaction that occurs within that plot. Moreover, the game is designed to replicate a real-life environment, simulating the actions that people have to perform in order to earn a living. Meaning potentially thousands of transactions per day on land plots. Importantly, different areas of the map are filled with common and exclusive resources. So players need to pick their plots wisely.

Below are a few examples of the taxes NFT land plot owners can collect:

  • Employment Tax (Salary portion that is payed by the employer)
  • Sales Tax (Purchaser tax when buying goods from the market)
  • Company Fees (Company building, repairs, upgrades)
  • Companies Revenue (Sold items, job contract fines, penalty taxes)
  • Warehouse Fees (Warehouse building and upgrades)
  • Delivery Fees (Goods delivery into specific warehouse in an owned HEX)
  • Airfare Fees (Flight tickets)
NFTs are a kind of cryptocurrency that consists of blockchain-encrypted authentication designating a specific digital product as an 'original' despite how many copies may exist, owned by the holder of the NFT.

Official Marvel NFT digital collectibles are in the works

Marvel / VeVe

Marvel Entertainment is getting into the NFT game, announcing a new collaboration with digital collectibles company Orbis Blockchain Technologies Limited to build and launch "a global digital collectibles experience for millions of Marvel fans and collectors around the world" via Orbis's mixed reality VeVe Digital Collectibles app in the coming months.

VeVe's app promises to "add a digital layer to the world around us," letting users "interact" with their collections and bring their "toys, statues, and other collectibles to life."

Per the announcement, the collaboration will mean Marvel fans will be able to "purchase and interact" with Marvel NFT digital collectibles like 3D statues and digital comic books through VeVe's app platform later in 2021.

The VeVe app is available on iOS and Android, and according to Marvel by purchasing its own currency 'Gems' with a credit card, users can then use Gems to buy and sell official Marvel NFT collectibles with others in VeVe's secondary marketplace, "trade and hunt for rare (and even secret-rare) NFT comic books and collectibles," and display their collection through customizable virtual showrooms.

NFTs are a kind of cryptocurrency that consists of blockchain-encrypted authentication designating a specific digital product as an 'original' despite how many copies may exist, owned by the holder of the NFT.

NFTs, which consume a vast amount of electricity, have drawn scrutiny due to the environmental costs of creating them. Some NFT producers have moved toward a more environmentally friendly form of NFT blockchain verification that relies on the trusted reputation of the maker and designer of the NFT in question to prove its authenticity rather than energy-intensive computing algorithms.

VeVe NFT digital collectibles are minted on the blockchain, although earlier in 2021 VeVe announced its intention to be the "first-ever carbon neutral NFT platform" and declared a commitment to 100% carbon neutral NFTs and by "offering grants to environmental nonprofits to raise money for causes," according to the Marvel announcement.

VeVe says its app also utilizes distributed ledger technologies, which they "estimate" are more energy-efficient than competitors in the marketplace.

"Since the beginning, collecting has always gone hand in hand with being a Marvel fan," says Dan Buckley, president, Marvel Entertainment in the announcement. "Like us, VeVe understands collecting is about the experience just as much as the product, and we look forward to extending that experience for our fans over the years to come."

Marvel promised more details about the NFT collaboration in the coming weeks.

"Today, we're seeing more fans than ever gravitate toward their screens," says VeVe co-founder and CEO David Yu. "Fans want to watch and post about their favorite characters, talk about them on social media, and find ways to interact with these characters however they can. The VeVe Digital Collectibles app takes that idea of collecting to the next level by embodying that element of fun while also making the growing trend of NFT digital collectibles accessible for everyone."

I'm not just the Newsarama founder and editor-in-chief, I'm also a reader. And that reference is just a little bit older than the beginning of my Newsarama journey. I founded what would become the comic book news site in 1996, and except for a brief sojourn at Marvel Comics as its marketing and communications manager in 2003, I've been writing about new comic book titles, creative changes, and occasionally offering my perspective on important industry events and developments for the 25 years since. Despite many changes to Newsarama, my passion for the medium of comic books and the characters makes the last quarter-century (it's crazy to see that in writing) time spent doing what I love most.

In the wake of a new wave of growth in NFT, let’s look at fresh NFT projects, which, according to experts, are ambitious enough to disrupt the NFT market.

When the dragons and the NFT team up, expect something really hot. The full-fledged breedable and collectible dragon Metaverse with the first blockchain DNA, earning and the blockchain-run fighting Arena is a reality. The CryptoDragons Metaverse will release 10K limited Eggs with NFT dragons inside. After minting and hatching them the Metaverse will emerge, letting those lucky ones who own the Legendary type earn 50% of the platform’s breeding earnings.

NFT dragon holders will be able to breed, sell, rent, or even fight their NFTs to earn on either the platform’s or secondary marketplaces. CryptoDragons are generated out of 12,000 attributes, 25 genes with 16 variations of each gene and 30 color shades of each variation. “CryptoDragons is a genuine cutting-edge technology and the original digital art”,- Nari, CryptoDragons CEO and co-founder says.

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Ubisoft's NFT announcement video is overwhelmingly disliked

Ubisoft Quartz was revealed a few days ago—and folks don't like it.

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Correction: The original version of this article claimed the video had been de-listed from YouTube. A spokesman for Ubisoft says that trailer was never publicly listed on YouTube, as it is embedded on the Quartz website.

Original story follows:

It seems like only yesterday we were reporting on Ubisoft's plans to capitalise on the NFT trend by, erm, selling helmets with little numbers on them. Oh wait, it pretty much was. And it looks like folks are just as impressed as you'd expect—using a Chrome extension to restore YouTube dislikes, we can see the video attracted an extraordinary 31,000 dislikes to just over 1,000 likes.

The Ubisoft Quartz announcement can still be viewed, and the website remains live albeit bereft of any content (as was the case when the video launched).

Ubisoft only announced this was coming in November, and it's part of a wider trend among big tech companies toying with the idea of NFTs, not all of whom are sold. EA called NFTs 'the future of our industry', but Xbox boss Phil Spencer's worried they might be 'exploitative', Discord teased their integration then swiftly u-turned after major backlash, while Steam's just decided to ban them altogether.

The thing with the Ubisoft Quartz pitch is, as many have pointed out, these items don't actually seem to be doing anything that games haven't already incorporated for a long time. The 'unique' element of them, a numbering system, is hard to get excited about. And fundamentally Ubisoft couldn't have picked a worse game to showcase cosmetics with: Breakpoint is by its grim mercenary nature a game with a rather drab aesthetic. It's bonkers to have gone for this over, say, the more recent Rider's Republic. Although perhaps the whole point is that, if it's all a disaster, at least it's with an older game and can all be swept under the rug more easily.

A major publisher announcing a new foray into a tech trend is big news, whatever one thinks of NFTs, but it's pretty clear that the public doesn't think much. Ubisoft is clearly already some way up the path on this technology and so a u-turn may be out of the question.

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