NFT transfer activity on Ethereum exceeds that of Stablecoins, ERC-20s

NFTs have formed a relatively large part of the Ethereum ecosystem in terms of token transfers since last summer, according to data published by Coin Metrics today.erc20 token creator Additionally, the number of non-fungible token transfers is still hovering around all-time highs.

According to Coin Metrics’ State of the Network issue today, non-fungible tokens, generally based on Ethereum’s ERC-721 token standard, have been outperforming both stablecoins and major ERC-20 tokens. in terms of total token transfers within the Ethereum ecosystem since July. of the so-called NFT summer of 2021.

NFT transfers are currently near all-time highs. Data from Coin Metrics shows that ERC-721 transfers typically exceed 300,000 on most recent days.

NFT adoption has been a dominant theme in the digital asset space since last summer, perhaps attracting more users to the space than other crypto use cases. OpenSea, one of the world’s most popular NFT marketplaces, reached a valuation of $13.3 billion last month following its breakout year in 2021, in which its transaction volume ($14 billion) increased 646 times during 2020. Coinbase’s NFT marketplace (which has yet to launch) also garnered over 1.5 million registrations for its waiting list within two days of the announcement.

In addition to retail users, many major companies have also gotten involved, especially after Facebook’s rebranding to Meta and the resulting Metaverse hype. For example, last month YouTube CEO Susan Wojcicki publicized possible NFT plans for the video streaming giant, and McDonald’s filed ten new trademarks earlier this month related to virtual goods.

Investors can now buy portions of home equity through fractional NFTs

A real estate startup has launched a service that allows homeowners to part with a fraction of their equity through fractional NFT sales. Vesta Equity leveraged the Algorand blockchain for its NFT (non-fungible token) marketplace,erc20 token generator which is the first peer-to-peer exchange that allows owners to leverage and sell a portion of equity with digital collectibles.

Fractional NFTs, which do not confer residential rights: are packaged as a security and registered as such with the Securities and Exchange Commission. Holders, Carpentier said, can build a portfolio of real estate assets to supplement traditional equity investments. Qualifying as a security and meeting SEC regulatory requirements have often been points of ambiguity for crypto companies.

Last year, a class action lawsuit was filed against Dapper Labs, the creator of popular NFT collections like NBA Top Shot Moments, claiming that some of the digital collectibles acted as unregistered securities. Vesta sees a little gray area in the SEC’s interpretation: Carpentier says no "I feel like the regulatory environment is unclear." "The SEC’s position on fractionalized real estate assets is very clearly articulated," he said. The market joins a growing number of NFT projects competing for real-life use cases. Blockchain startup Propy last month auctioned off a house in Florida as NFT for more than $653,000. Propy CEO Natalia Karayaneva told us that the company’s services could "become a standard in the [real estate] industry." portion of that market," Karayaneva said.

Sports and NFT: a strong link

This certainly isn’t the first time the sports and NFT worlds have come together. Indeed, the Italian football club AC Milan itself has been working with the French company Sorare for almost a year, which has created a project to bring fantasy football to the Ethereum blockchain.

Milan is also a partner in various crypto projects such as the BitMEX exchange and ROInvesting. In the world or In sports, there are many realities that are combined with NFTs, such as NBA Top Shot or Formula 1 and MotoGP, which has become part.

Soccer teams, as well as Sorare, have also entered the world of cryptocurrencies thanks to Binance, which now sponsors Lazio in Italy, or thanks to Socios and Chilliz who create for various decisions related to their favorite teams.

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