5 min read

NFT Innovation Digest #4

Welcome to NFT Innovation Digest! Every Thursday, we bring you a curated digest of the most innovative and relevant topics of the NFT space.
NFT Innovation Digest #4
Image: Steve Johnson

Most innovative (author's pick)

Image: Rari Capital

Rari Capital, the "DeFi protocol created by teenagers", launched permissionless lending pools called Fuse pools. The tool enables anyone to create a lending and borrowing pool for any asset.

More:

  • In less than one week from the launch, the Fuse pools have more than $1.1 billion TVL;
  • NFTX, a project that creates liquidity for liquid markets already started to use the Fuse pools, one of them including PUNK, representing a Cryptopunk locked in NFTX;
  • The project innovates on enabling the permissionless creation of lending pools with any asset, differently than protocol such as Aave and Compound, that enable the lending of just a set of tokens.

Most discussed

Coinbase NFT interface. Image: Coinbase

Coinbase announced the upcoming launch (coming late 2021) of "Coinbase NFT" a peer-to-peer NFT marketplace that "will make minting, purchasing, showcasing, and discovering NFTs easier than ever" according to Coinbase.

More:

  • The company announced a waitlist for consumers and just two days later, more than 1.4 million people signed up;
  • Coinbase is stating that the platform will be "built on top of a decentralized marketplace" and will "never lock creators in";
  • Besides the marketplace, the platform is said to have a curated personal feed focused on social engagement between creators and collectors.
XDEFI wallet NFT display. Image: XDEFI wallet

XDEFI Wallet announced the public release of a cross-chain wallet for DeFi and NFTs. The wallet offers automatic NFT detection and a drag-and-drop grid display for NFTs.

More:

  • The wallet is available as a Chrome extension and aims to compete  by providing access to blockchains not available on the Metamask such as THORChain and Terra;
  • It features "Ape Mode", using a "proprietary gas algorithm to ensure transactions get into the next block every time, on every single chain";
  • XDEFI will also enable crypto purchases with fiat via third-party Ramp without extra fees.
Image: Bored Ape Yacht Club

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), just signed with Guy Oseary, the same talent manager of The Weeknd and Madonna.

More:

  • Oseary’s goal with BAYC is to move from the internet niche to the mainstream adoption;
  • BAYC is the second NFT project to sign a deal with Hollywood representatives, following the Cryptopunks creators, Larva Labs, that signed with United Talent Agency in August 2021.

New products and ideas

FTX NFTs Interface Image: FTX.US

FTX.US launched the Solana NFT Marketplace FTX NFTs that will allow users to trade and mint Solana-based NFTs. The support for Ethereum is planned to be implemented in the near future.

More:

  • FTX will support Solana NFTs that follow the NFT protocol Metaplex's standard. It is capping royalties at 40% and not allowing users to list revenue-sharing projects;
  • The offering process will be open only to users with an FTX account linked to their identity, not allowing anonymous crypto wallet addresses;
  • Besides crypto, the marketplace will accept bank transfers and credit card purchases.
Image: Jakub Novacek

In this Forbes article, Cathy Hackl and Brandon Kaplan explore voice and sonic branding in the future of the internet, questioning how our voices should work on the Metaverse as a more immersive interface.

More:

  • "brands have an opportunity to be able to insert themselves into these engagement moments and use voice and use chat as a means to have really meaningful encounters with people in a virtual world" According to Kaplan.
ENS NFT support. Image: ENS

The Ethereum Name Service (ENS) announced NFT avatar support for ENS profiles. Now it is possible to set an owned NFT as the ENS profile avatar. The specifications can be found here.

More:

  • Besides the ENS Manager App, other dApps can display it alongside the ENS name. At the time of the launch, only Uniswap and 1inch support it;
  • There is a step-by-step guide to setting an NFT as the ENS profile avatar.

New podcasts and shows

  • The Stakeborg Talks: In this episode, Vitalik Buterin is interviewed and spoke about a wide variety of matters, such as the potential of DAOs, his perspective on Bitcoin and the NFT space;
  • Bankless Podcast: In this episode, David and Ryan talk to Jai Bhavnani, the Co-Founder of Rari Capital. The talks explore Fuse, open interest rate protocol that allows users to lend and borrow digital assets including NFTs;
  • NFT Now Podcast: In this episode, Avery Akkineni, President of VaynerNFT, talks about how big brands adoption can leverage NFTs;
  • Edge of NFT Podcast: This episode is a panel on NFTs, Regulation and the Law from Global NFT Summit.
  • The Defiant: In this episode, Camila Russo interviews Yam Karkai, the creator of the NFT project World of Women. Yam gives her artist perspective on the NFT space.

Save the date

  • 1st-4th November: NFT NYC is the leading annual NFT event, don't miss it!

NFT space in numbers

The values below are from 7-14th October 2021. Source: DappRadar.

Top Marketplaces

Marketplace Blockchain Volume Traders
OpenSea ETH, Polygon $643.17M
-18.76%
173,453
+2.78%
Axie Infinity ETH, RONIN $135.25M
+1.33%
164,557
-5.10%
CryptoPunks ETH $20.11M
-71.22%
71
-66.51%
PancakeSwap BSC $15.28M
-26.28%
12,542
-50.36%
AtomicMarket WAX $8.19M
-7.35%
28,261
-35.40%

Top Sales

NFT Collection Price
The Eternal Pump #11 Art Blocks $1.61M
450 ETH
Bored Ape Yacht Club #5199 Bored Ape Yacht Club $1.58M
425 ETH
CryptoPunk #9848 CryptoPunks $1.34M
380 ETH
CryptoPunk #1182 CryptoPunks $1.1M
312.5 ETH
CryptoPunk #6947 CryptoPunks $773.46k
224.95 ETH

Top Collections

Collection Volume Traders Sales
Axie Infinity $135.25M
+1.33%
164,551
-5.11%
464,836
-5.4%
MekaVerse [NEW] $124.29M
-
8,393
-
13,799
-
Art Blocks $21.9M
-55.36%
2,089
-39.11%
1,738
-45.59%
MutantCats [NEW] $21.46M
+53.12%
4,792
-21.85%
5,225
-73.53%
CryptoPunks $20.11M
-71.22%
71
-66.51%
43
-72.26%
Bored Ape Yacht Club $18.53M
-14.17%
194
-22.4%
114
-20.83%
CrypToadz by GREMPLIN $14.68M
-72.36%
526
-57.58%
413
-65.78%
PancakeSwap Squad [NEW] $14.08M
+4.45%
2,475
-5.25%
3,383
-10.03%
Eponym by ART AI [NEW] $10.8M
-
5,194
-
14,858
-
Metasaurs by Dr. DMT [NEW] $10.34M
-
8,245
-
11,975
-

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