Axie Infinity to double down on Korea, Redditor turns criticism into tokens, and NFTs don't live on the blockchain. All that and more in our latest Nifty Newsletter.
With NFTs becoming more expensive, fractionalization is becoming a solution that lets smaller investors have a share of popular NFTs like CryptoPunks. Through a new campaign, a Punk’s ownership will be in 56,000 wallet addresses that signed up to get a share.
This effort gives NFT users a chance to participate in an NFT collection that was once out of their reach but has now become more affordable through fractionalization. The campaign is facilitated by Unique Network, an NFT infrastructure built on top of Kusama and Polkadot.Jeffrey Zirlin, co-founder of Sky Mavis — the company behind the NFT play-to-earn game Axie Infinity — spoke to Cointelegraph at the Korea Blockchain Week.
Zirlin noted that their team wants to “double-down” on the region. He said that as Koreans don’t really speak a lot of English, there are barriers to Korean players getting their hands on the game. Because of this, the Sky Mavis co-founder said the company wants to localize.In a Cointelegraph interview, NFT experts Jonathan Victor and Alex Salnikov talked about the misconceptions surrounding NFT storage.
Salnikov explained that because NFTs are a relatively new concept, there are many people who don’t know how NFT storage works. Clarifying the topic, Salnikov said that the NFTs that are in a user’s wallet only point to the file that it represents. The actual file, called the NFT’s metadata, is stored somewhere else, according to the CEO of NFT marketplace Rarible.
Compiling a collection dubbed “Worthless JPEGs!,” the Redditor curated quotes from the internet along with lines from prominent critics, such as Warren Buffet, Peter Schiff and Dan Olson, minting their anti-NFT sentiments into NFTs.