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    NFT News and Updates From This Week

    By Wasim Omar

    Oct 20,2022

    10:09 AM UTC

    In what comes as a breakthrough in the sub-realm of NFT Real Estate, the first ever real-world house was sold to an interested party. The transaction was fully digital and took place via the Roofstock on Chain NFT market platform, however, the ownership of the physical property is real. The transaction holds a wide range of implications that go beyond NFT Real Estate and demonstrates how real-life transactions can be conducted by means of non-fungible tokens on the blockchain.

    The American broadcasting giant, CNN has announced the closure of its NFT project dubbed ‘Vault’ after more than a year of it being operational. This untimely end faces mixed reactions from supporters, with many now accusing CNN of rug-pulling. The broadcasting company states that the project was to last for six weeks, but saw an extension due to the widespread support from interested parties. The official discord server of the Vault NFT is awash with accusations of rug-pulling, demands for refunds, as well as threats of legal action.

    A recent report by Reddit has shown that users have created up to 3 million crypto-wallets in response to the social media company’s launch of its Polygon NFT initiative. This will allow Redditors to buy, use, and trade avatars based on the classic Snoo character, otherwise referred to as the Reddit Alien. Prior to Reddit, a number of social media platforms launched profile picture NFTs, but none have been as well received as the case of Reddit, with millions of its users showing excitement and willingness to be a part of the change.

    NFTs to Watch

    Nyolings

    The Nyolings NFT collection is one that has been seeing significant hype in the NFT market, increasing in price by 123% in the last day alone. The collection features 7,777 lovable characters in a cutesy art style, with a wholesome vibe. The project aims to deliver high-quality artwork, whilst simultaneously establishing a tightly-knit and cohesive community of like-minded users.

    The brains behind Nyolings is its development team, who state that their ambitions are to look towards the future, with long-term and sustainable growth.

    DigiDaigaku Genesis NFT

    The DigiDaigaku Genesis NFT is another exciting collection that has been turning heads in the market and gathering serious interest amongst fans of the project. The collection essentially caters to enthusiasts of the anime art style of female characters, which has a giant following on the internet and in popular culture as a whole.

    A large aspect of the appeal of DigiDaigaku Genesis is the mystery surrounding it. There is little information available to outsiders about the world in which the characters reside, yet NFT holders have the opportunity to explore inside details and value their characters more with the newfound information.

    To keep up with similar weekly updates on the exciting world of NFTs, be sure to keep track of our publications on Stocks Telegraph.

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