Utilities not Included
_________ is one of the many markets in the world. No ____ is the exact same, it has different colors, styles, finishes, layouts, architecture, etc.
Value is based on a few variables; where is it located, who made it, and how unique is it? If a buyer likes a ___ enough they willingly overpay to satisfy their desire to own the property.
The blanks in that last passage could be filled in with Real Estate, or NFTs.
Well, some avant-garde thinkers enlightened us with an act of pure genius, they listed their homes for sale on OpenSea.
The house had listings on other websites like Realtor.com. Interestingly enough however the market place that oversaw the transaction was on OpenSea, for 130 ETH a home in South Carolina was purchased.
The seller even went through the trouble of noting the different “attributes” of this NFT like any other dignified project.
We’ve now seen this trend a few times in the last year. I wonder where NFT-backed Real estate will go in the next year. One guess: only Up.
Source: https://nftevening.com/nft-tied-to-real-house-in-south-carolina-sells-for-175k/
Apple drops the hammer on NFTs
Apple has drawn a line in the sand regarding its stance on NFT in the App Store.. The company has made clear that it does not approve of the full use of the technology like we're used to.
They cleared up their business plan regarding NFT in-app purchases.
they're taking a 30% cut of all sales. this comes in around 600% higher than the 5% industry platform standard.
I know what you’re thinking: this sounds like a terrible deal! And it is! But it gets worse…
Apple also says that all apps must comply with their terms of service.
According to those terms of service, there are very strict rules about how apps can handle digital goods. NFTs in their App Store "may not use their own mechanisms to unlock content or functionality."
This move was met with dismay by many enthusiasts who were hoping to use NFTs in new ways with Apple’s blessing.
But it’s far from over for NFTs on iOS devices. There are still plenty of ~decentralized~ ways users can participate.
Apple has a long way to go to match the decentralized future our industry deserves and envisions.
Yuga labs under SEC microscope
Yuga Labs, founded in 2021, has grown to become one of the most successful brands in Crypto. They are also the creators of the iconic NFT collection, Bored Ape Yacht Club, and now own many others’ rights through acquisition.
At one point, Bored Ape Yacht Club NFTs were commonly selling for hundreds of thousands of dollars. Now, the creators are under investigation by the SEC.
The SEC is doing its best to determine if the nonfungible tokens should be treated like stocks and therefore follow the same disclosure rules.
The examination of cryptocurrency by Wall Street has been going on for quite a while now, and although Yuga Labs has not been accused of any wrongdoing, the investigation is still uncovering the details.