Newsletter #139
More NFT-Blockchain Innovation and China's Growing Influence
This week’s featured collector is Akkileish
Akkileish’s collection is a pastiche of styles ranging from Wild West figures to cyberpunk characters, highlighting a blend of historical and futuristic themes. The collection features techniques ranging from stark monochrome to vivid neon, suggesting an appreciation for aesthetic complexity. Check it out at lazy.com/akkileish
The results of last week’s poll: How frequently do you seek out news and updates on NFTs?
A significant majority, 44%, reported they rarely seek out news about NFTs. A notable minority, 31%, report doing so a few times a week, suggesting an enduring but not daily interest. Only 6% check daily, which points to a smaller core of highly engaged individuals. The absence of any respondents who check multiple times a day could imply that Lazy users do not see the NFT market and/or news cycle as warranting constant attention. The results of this poll suggest that the NFT community has varied levels of engagement, with a substantial portion not actively seeking frequent updates, which could reflect the ongoing NFT bear market or a preference for less frequent, substantial news over constant, incremental updates.
Frame: A Royalty-Focused NFT Blockchain is Launched
Two weeks ago, we covered the launch of RARI Chain, an NFT-focused blockchain that promises to mandate royalties. This week, Frame, a second NFT blockchain designed to protect creator royalties has been launched.
Frame is a Ethereum Layer 2 engineered to prioritize NFT transactions with an emphasis on cost efficiency and speed. Central to Frame is the integration of Palette Protocol, a system purpose-built to administer NFT royalties.
With Palette Protocol, Frame aims to ensure enforcement of NFT royalties. Additionally, Frame will allocate a portion of the fees generated by the blockchain to the Frame Creator Fund, an initiative designed to support and bolster the creative community within its platform, with details on its implementation and governance yet to be disclosed.
With RARI Chain and Frame now in the wild, the battle to become a home for NFT royalties is heating up. Will there be a third contender? Time will tell. In any case, it is increasingly looking like NFT-specific blockchains will be a key component of the next wave of NFT innovation.
China Strategizes to Lead in Web3 Era by Embracing NFTs
A recent statement by China’s Ministry of Industry and Information Technology suggests the country is advancing efforts to develop and integrate Web3 technologies, with a special focus on the NFTs. The statement argues that China's approach to Web3 development places significant emphasis on exploring NFTs, as part of its broader strategy to embrace blockchain technologies. This exploration extends to various sectors such as healthcare, education, and tourism, where NFTs are anticipated to play a critical role. Meanwhile, companies are actively contributing to this development, launching digital collectibles and Metaverse-related products that integrate NFT technology.
Until now, China has not played a major role in the global NFT ecosystem. However, if this statement is to be believed then that may be changing in the years ahead.
This week’s poll: How significant do you think China's impact will be on the global NFT market in 2024?
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