gm Explorers,
As mentioned in the start of 2022 the institutions are here! What better evidence than the world’s largest asset manager partnering with a centralised crypto exchange?
In other news other blockchains are showing their presence in the ever growing world of non fungible tokens. And two big sales when it comes to name services.
Yuga Labs continues to dominate with four collections in the top NFT Blue Chips.
This Week in NFTs
Cross-chain for tomorrow’s Non Fungible market. Magic Eden is the largest marketplace for Solana based NFTs. This integration provides more competition for OpenSea (largest Ethereum based NFT marketplace) and will be good for the space.
Did you know that the retirement savings and investment plan for Federal employees and members of the uniformed services standard offerings are managed by BlackRock?
BlackRock is the world's largest asset manager, they have $10 trillion in assets under management as of January 2022. Add this to the list of institutional crypto adoption.
Reddit a social news aggregation, content rating, and discussion website is exploring an Ethereum Layer 2 (L2) solution with the Arbitrum Blockchain.
Note: Layer 2 refers to networks built on top of other blockchains.
Direct purchase of cryptocurrencies in the Polygon network which is another Ethereum L2. Rather than transferring ETH or MATIC from the Ethereum network where users will incur high gas fees, a direct purchase already has your crypto on Polygon’s network.
Facebook, Google, and Shopify are some names that’s already building on the Flow Blockchain. They have notable partnerships in entertainment sports like NBA Top Shot, NFL All Day, and UFC Strike showcasing digital collectibles. In 2021 there were 1.2 billion monthly active users of Meta's Instagram. 2022’s NFT integration will be one to keep an eye on.
A huge sale for OpenSea.eth at 99 ETH (~$170k) and an even bigger sale for NFTS.com
Note: Ethereum Name Service (ENS) is your web3 username, a name for all your cryptocurrency addresses, and decentralised websites.
Instead of using the address: 0x5b3256965e7C3cF26E11FCAf296DfC8807C01073 you can use OpenSea.eth
Conclusion
A lot of household names continue to enter Web3 and a plethora of different blockchains will arise. Currently Ethereum (ETH) is the reigning champion when it comes to NFTs. In no particular order, ones to keep an eye on will be: Flow (FLOW), Solana (SOL), and Polygon (MATIC) to name a few. It looks like a multi-chain future much like there are different apps that serve its own purpose for the end user.
If you want to learn more about NFTs and Web3:
Liked this post from NFT WKLY, why not share it?
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. I’ll always disclose when this is the case.