NFT project Azuki launches Physical Backed Token
The company said that the open-source token standard intends to tie a physical item to a digital token on the Ethereum blockchain. Anime-inspired nonfungible token (NFT) project Azuki has released a Physical Backed Token (PBT) — an open-source token standard that ties a physical item to a digital token on the Ethereum blockchain. Azuki shared on its Twitter account that the first implementation of the PBT will use the BEAN Chip; a physical cryptographic chip that self-generates an asymmetric key pair. The combination of the PBT and the BEAN Chip introduces a feature, which the project is....
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The idea behind Azuki is phenomenal. To mix NFT culture with anime-style drawings, with a global community working together behind the scenes as a kicker. Azuki defines itself as a “decentralized brand for the metaverse.” This brand’s main product is a collection of 10K anime-style avatars in NFT form. The collection is also called Azuki and at inception was one of the NFT space’s biggest success stories… … until admissions and revelations by one of the project’s creators cast a shadow on Azuki as a whole. Let’s review the project’s history, its characteristics, and the interview that....
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Last week, non-fungible token sales saw an improvement after tumbling week after week in terms of sales volume. This week, NFT sales are down 2.15% from last week’s $544.6 million to this week’s $539.2 million. The top NFT collection in terms of weekly sales was the Azuki compilation of collectibles, as the project saw a 318% increase in sales during the last seven days. Weekly NFT Sales Drop 2%, Cronos and Solana NFT Sales Spike Data stemming from the non-fungible token (NFT) economy indicates that sales are down this week by 2.15%. Statistics indicate that NFT sales across....
Gold-backed tokens are getting increasingly popular as a more accessible alternative to investing in physical gold. What is a gold-backed cryptocurrency?A gold-backed cryptocurrency is a type of digital currency that is backed by physical gold. The currency’s value is based on the current market price of gold and can be used for transactions just like any other type of cryptocurrency.Some cryptocurrencies are backed by gold in order to tie the derivative asset (crypto) to a tangible asset (gold), thereby preventing excessive fluctuations in price. Thus, gold-backed cryptocurrency is often....
The founder of the Azuki NFT project has been accused of abandoning three projects and Instagram has partnered with Dapper Labs to roll out Flow NFT support. The founder of the $723.5 million Azuki NFT project who goes by “Zagabond” online caused a sh*tstorm yesterday after revealing that they had previously worked on three noabandoned NFT projects. After facing strong backlash from the NFT community, they have since apologized for their “shortcomings.” The three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and Cryptozunks. Zagabond suggested all three had failed....