The [Solana Doodle Apes](https://magiceden.io/marketplace/solana_doodle_apes) project is a collection of community-driven non-fungible tokens. If you are into NFTs, you must be familiar with the [Bored Ape Yacht Club](https://boredapeyachtclub.com/) collection, which introduced funky ape avatars. The Doodle Apes are inspired by this project and introduce similar kinds of collectables on the [Solana blockchain](/news/article/solana-price-gbp). 

But this project is not just a rip-off of [Bored Ape](/news/article/bored-ape-nft) Yacht NFTs. It introduces a more adorable, colourful, and cute version of the apes. Let's dive deeper into the project to learn whether it is worth your investment.

## What are Solana Doodle Apes?

Doodle Apes is an SOL-based collection of digital assets. Launched on 7 January, 2022 and introducing 3,333 collectables on [Magic Eden](/news/article/magic-eden-expands), these collectables are ape avatars with distinctive characteristics. The project draws inspiration from a popular Ethereum-based NFT collection by Yuga Labs.

The developers allocate 50% of trading fees royalties for the holders at least once each month. Another 5% of the royalties go to the community fund, which is consumed for marketing, community development, and maintenance.

If you are an NFT holder, you can vote to decide how the platform should spend the fund. Holding these NFTs will also allow you to generate a passive income.  

## Characteristics of Doodle Apes

The team behind this collection describes these doodled apes as intelligent and fast creatures. They like to swim, climb trees, and do high jumps. You can also find these new ape species in the South American jungles.

Each of the ape NFTs has unique attributes like different coloured backdrop, clothing, facial features, hats, and skin tone.

## Where to buy these NFTs

This collection of NFTs is available on some of the best Solana NFT marketplaces, including Magic Eden and SolSea. You can also find them on top-ranked marketplaces like OpenSea and Rarible. Moreover, its roadmap indicates that it may soon be launched on other platforms like Digital Eyes, SolanArt, and others. 

## What’s the floor price of these collectables?

As per the data by Magic Eden, the total volume of these collectables is 8,138.37. The total number of holders is 2,247, and the floor price of each NFT is 0.067 SOL. However, there are a few NFTs whose prices are up to [1049882.4 SOL](/news/article/solana-nft-marketplace).

## Is Solana Doodle Apes NFT legit?

To gauge the legitimacy of any project, its website and socials are important. Currently, the project's website [https://solanadoodleapes.com](https://solanadoodleapes.com/) is not accessible, and it isn’t available on Twitter either. It is pretty concerning; that’s why Magic Eden has also flagged the collection. 

Nonetheless, it is listed on various other [marketplaces](/news/article/solana-nft) like SolSea, OpenSea, and Rarible. It also proposed an exciting roadmap. So, if the project progresses, we might see more activity within the community. If you are considering investing in this collection, it is advisable to conduct your research.



Solana Doodle Apes Explained

Greetings, Whovians, and welcome to Dr Who Worlds Apart.

Have you ever thought of jumping in the TARDIS and travelling across the universe? Well, now you can.
A collaboration between [Reality Gaming Group](https://realityplus.com/) and the [BBC](https://www.bbc.co.uk/) has brought the longest-running and most successful science-fiction television show in the universe to your digital decks.

[Dr Who Worlds Apart](https://doctorwho-worldsapart.com/) is a digital card trading game where players can collect, battle, and trade in real time:

•	Assemble your decks with your favorite characters, objects, and moments from the adventures of the Timelord.

•	Trade - buy and sell cards on the Worlds Apart native marketplace with users from around the globe. Buy card packs and tokens on the online store.

•	Battle it out with friends in the online game to conquer all of time and space!

## How Dr Who Worlds Apart works

By harnessing the power of blockchain technology, Reality Gaming Groups (RGG) has transformed digital collectible cards into secure, protected, and scarce [Non-Fungible Tokens (NFTs)](/wiki#character-n). NFTs give the cards unique identities, which ensures that every gameplay detail is recorded and publicly stored. This allows you and your teammates to see a track record of wins, losses, and all other accomplishments.

## How to enter the Whoniverse 

Users can register their accounts and start collecting cards as well as adding cosmetic Alien frames straight away. These can be purchased in-store or on the secondhand marketplace using Pandaks (named after the original Lord President). $1 is worth 100 Pandaks. What's more, you earn ten free Pandaks every time you log in! The earlier you assemble your deck, the lower the price will be.

## Bringing Dr Who to younger generations

Co-founder of RGG Tony Pearce said: "In the beginning, getting Doctor Who fans to understand what an NFT is had proved difficult. Together with the BBC, we hope to educate the younger Doctor Who fans of why there is value and utility with these cards."

## Paper or digital deck - what’s more sustainable?

There has been much media coverage concerning Bitcoin's intensive energy use. It is estimated that the world's largest cryptocurrency consumes more electricity per year than the entire country of Argentina which, with a population of 45 million people, is a lot of energy!

Context is key when interpreting statistics, and carbon emissions can be difficult to measure across different industries. However, the transparent nature of blockchain's distributed ledgers makes it much easier to perform audits and approximate current and future energy use.

In industries with physical supply chains, it is a complex and often inaccessible process to calculate [scope 3 emissions](https://www.carbontrust.com/resources/briefing-what-are-scope-3-emissions). This is especially so in sectors like [metals mining](https://www.gold.org/news-and-events/press-releases/gold-and-climate-change-the-energy-transition-press-release) which create a much larger carbon footprint than crypto.

All online activity has an associated energy cost. For example, [YouTube uses 250% more energy](https://thefactsource.com/how-much-electricity-does-youtube-use/) per day than the entire Bitcoin network. The [traditional banking system](https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research) uses twice as much energy as the Bitcoin network daily. [Research by Cambridge University](https://www.jbs.cam.ac.uk/wp-content/uploads/2020/08/2019-09-ccaf-2nd-global-cryptoasset-benchmarking.pdf) suggests that the energy that powers crypto mining is already as much as 78% renewable.

There is often a misconception that the energy cost of Bitcoin is the same for all blockchain networks. Ethereum uses about half of the energy of Bitcoin, and the network's overhaul from the Proof of Work consensus model to Proof of Stake has reduced Ethereum's energy usage by 90%.

## RGG’s approach to the climate reality

Using and developing NFTs and blockchain applications require energy, just like any game developer or other industry in the world. [Reality Gaming Group](https://realityplus.com/) understands that blockchain technology has a significant [environmental impact](https://doctorwho-worldsapart.com/sustainability/) and is committed to keeping this to a minimum. To this end, all of the Group's data servers and websites are certified as carbon-neutral.

Dr Who Worlds Apart runs on a fork of Ethereum known as a ‘sidechain’ which uses less energy than the Ethereum mainnet and is more versatile for bespoke development. RGG plans to integrate Polygon and other layer 2 companies to improve energy efficiency and speed further while retaining the security and authentication benefits of the Ethereum network.

It can be argued that the emissions involved in manufacturing and transporting physical cards may have more impact on the environment than collectible digital cards using NFT technology.

Built using blockchain for integrity and utility, Dr Who Worlds apart is the perfect platform to inspire existing and future fans. So, don’t waste any more time. Go forth, assemble your deck, and get collecting to master the universe.


Dr Who Worlds Apart: The Time is Now

Cyberpunk is one of the new trends to make it big in the NFT space.

The non-fungible token market has come a long way. It started in the early years of the last decade with the mere introduction of coloured coins. Then, [Ethereum emerged](/news/article/eth-to-gbp) and provided a platform where they flourished. Post-2018, NFTs have become a buzzword in the industry, with even memes being minted as NFTs.

But 2021 was the real game changer for these tokens. The year saw a record [$17 billion worth of NFT sales](https://www.cnbc.com/2022/03/10/trading-in-nfts-spiked-21000percent-to-top-17-billion-in-2021-report.html) and was dubbed "the year of NFT". Today, you see brands, celebrities, and artists promoting them.

Along with the tremendous market growth, it has also transformed digital art. Now, various genres have emerged in digital collectables. One of them is cyberpunk NFT. 

## What is a cyberpunk NFT?

Neon lights, smoke, femmes fatale, a person standing at the fringes of the city, late nights, and tall buildings - these best define cyberpunk. It is a distinctive subgenre of sci-fi. It has gained popularity in the non-fungible token market, notably among Gen-Z, who love to collect digital art pieces.

## The main themes you can observe in this new genre of NFTs are; 

•	Quantum computing.

•	AI (Artificial intelligence).

•	Technologies beyond AI.

## The rise of cyberpunk NFT genre

[Web3-based games](/news/article/web3-games) and the emergence of [Metaverse](/news/article/farming-games-in-metaverse) are the two reasons behind the skyrocketing popularity of this genre. In the last couple of years, various RPG titles have surfaced that share cyberpunk themes. 

Among them, [Cyberpunk2077](https://www.cyberpunk.net/us/en/) is one name that triumphed. It introduces a world that shows the concepts of the sci-fi subgenre, like dystopian cities, technology, and aggressive capitalism. The game's sequel will likely have NFTs. The dark fantasy game [DRKVRS](https://alephzero.org/blog/drkvrs-dark-metaverse-aleph-zero/) is also working on launching NFTs for their community. 

Other notable names include Ghostrunner, [Citizen Sleeper](https://www.fellowtraveller.games/citizen-sleeper), Deus Ex: Mankind Divided, and [The Ascent](https://store.steampowered.com/app/979690/The_Ascent/). These games have directly and indirectly promoted the new genre of NFTs.

## Popular cyberpunk NFT projects

Recently, many NFT projects that share the characteristics of this new genre have entered the marketplaces. [CryptoPunk](https://larvalabs.com/cryptopunks) is one of the oldest ones among them. Though these pixelated NFTs might not look similar to the more recent projects of this genre, the project's fundamentals align. It is a collection of pixelated avatars that could become your identity in the digital world.

[Cyberpunk by Yagatoshi](https://opensea.io/collection/cyberpunk) is another fine example. It introduces excellent art pieces depicting all the features of futurism and advanced tech. You can also check [Blockrunrs](https://opensea.io/collection/blockrunrsnft), which introduces avatars with anime aesthetics. Other noteworthy names include [Cyberpunk Ape Executives GENESIS](https://opensea.io/collection/cyberpunk-apes), Loot, [Cyberpunkz Official](https://opensea.io/collection/fandom-central), and others.

## Closing thoughts

Cyberpunk has recently emerged as a new genre in digital art. The futuristic themes and the AI are the main characteristics of these NFTs. The popularity of sci-fi games and the rising use of advanced computer technology have significantly encouraged this genre. With the increasing popularity, we may experience a rise in cyberpunk NFT projects in the future.


Cyberpunk NFT: A New Genre

The entire crypto market is reeling from the [crash](/news/article/ftx-collapse-blockfi-suspend-withdrawals) of the FTX exchange. Amid this, the price of all the major cryptocurrencies, including [Bitcoin](/coins/btc), [Ethereum](/coins/eth), and others, have plunged. On the other hand, NFTs have also felt some impact from this crash. But one of the collections that suffered the most is the [Bored Ape Yacht Club](https://boredapeyachtclub.com/) (BAYC) NFT collection.

The data from several sources suggest that the price of NFTs for this project is continually decreasing. One of the primary reasons behind it is the tumbling value of Ether. This has forced the holders to panic sell their digital art collectables. 

## The plunging value of the BAYC NFT collection

The data from [NFT Price Floor](https://nftpricefloor.com/) indicates that the CryptoPunks collection has replaced Bored Ape collectables. The floor price of CryptoPunks is 66.49 ETH, whereas the value for the [Bored Ape Yacht](/news/article/bored-ape-nft) collection is only 52.00 ETH. 

Besides, the data aggregator for collectables, [CryptoSlam](https://cryptoslam.io/bored-ape-yacht-club/sales/summary), further shows that the sales of NFTs have decreased over the past month. Last month, the total traded volume was $31,275,729.82. However, in November, till now it was $26,838,932.67.

## Why is the price falling for the BAYC NFT project? 

It is one of the most popular projects in the digital art market. The falling costs of these NFTs are quite alarming for the collectors. Though there are numerous factors for the decline in its value, [FTX collapse](/news/article/ftx-bankrupt-who-to-blame) is a major one. 

According to Wu Blockchain, the creators of BAYC, Yuga Labs, had stored around 18,000 ETH on the FTX’s Blockfolio for royalties.

![bayc.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bayc_7a1534ef34.png)
 
Because of this, its collectables have experienced a more than 10% decline in value. Moreover, the project lost its first position due to the drop in market capitalisation. The collectors are now inclined towards owning a [CryptoPunks](/news/article/jay-z-cryptopunks-nft) collectable instead of this project’s NFTs.


Why BAYC NFTs Suffered Most from the FTX Crash

One exciting Solana project is [Okay Bears NFT](https://www.okaybears.com/). Launched on 26 May and quickly gaining popularity, the project has introduced 10,000 NFTs. At the time of the launch, each Bear NFT cost was around 1.5 SOL (approximately $150). However, now its floor price has reached 49.99 SOL.

[Solana](https://solana.com/) is becoming a famous ecosystem for digital art collectors and artists. Also, recently, its [mints reached all-time high](/news/article/solana-nfts), and new projects are continuously entering the marketplaces. This signifies the potential of [SOL-based non-fungible tokens](/news/article/solana-nft-marketplace). 

## The idea behind Okay Bears 

The project is led by an anonymous team of 12. Its co-founders identify themselves as [Suby](https://twitter.com/suby_sol) and [Kais](https://twitter.com/powerofpixel). They have built it around the idea of shaping a vibrant community that preaches acceptance and spreads positivity. 

Its community is quite active in organising [charity events](/news/article/web3-games), particularly for promoting basketball. For this reason, they have collaborated with several organisations like HEIR and Lonzo Ball.  

## Bear NFT Blueprint

1. Bear Market
It might resonate with the crypto [bear market](/news/tag/bear-market). However, it's the platform's own marketplace. Here the members get access to Web3 marketplaces, Web2 online stores, and physical pop-up stores. 

2. The Park
The Park is the Discord group of the platform. It represents a safe space for everyone. All community members are equal, and there are designated roles for anyone.

3. Platform
All events, meetups, and conferences are planned on the platform. It helps connect the Solana industry leaders to shape the fraternity. Okay Bears might also launch an incubator through the platform.

4. Gallery
Here the entire collection of NFTs is showcased. Moreover, there are also plans for fan art and IRL pop-up exhibitions.

5. Workshop
All the labour for public awareness and community engagement campaigns is done in the workshop. There is also a focus on CSR, for which its team collaborates with several brands.

## Final take

This is an ideal project if you want to be part of charity campaigns. It focuses on spreading positivity and only good vibes. Its vibrant community promotes acceptance and equality to bring positive societal change. Besides, it also has collections that include rare [Solana-based NFTs](/news/article/solana-nft) that can be rewarding.



Okay Bears NFT Explained

[DeGods](https://www.degods.com/) NFT is a deflationary collection of gods dressed in a creative aesthetic of modern streetwear that meets ancient deity vibes, emphasising community utility. The collection has more than 4,300 owners and is one of the most popular Solana projects on both OpenSea and Magic Eden.

There are currently 9,465 NFTs, as the team has burned the remaining 535 DeGods NFTs. They have characteristics that range from Common to Uncommon, Rare, Super Rare, and Mythic. The Divine Robe, Heaven Background, Night Vision Goggles, Mythic Helmet, Smoke Ring, and other Super Rare and Mythic traits are included in the collection. The Medusa Head is the rarest trait in the collection.

DeGods NFT can be purchased on the [Magic Eden](/news/article/magic-eden-expands), Alpha Art, OpenSea, and [Solanart](/news/article/solanart-nft-marketplace) marketplaces.

## DUST

DUST is the DeGods community token designed to further the project's utility. It is a [Solana](/news/article/solana-nft) blockchain SPL token with a zero starting supply. The team intends to limit the supply of DUST to 33,300,000. The only way to mine DUST is staking a DeGods or DeadGods NFT. 

## What are DeadGods?

DeadGods are the new version of DeGods NFT. The upgrade allowed collectors to purchase a "fine art" version of their existing NFT. 

DeGods holders could pay 1,000 DUST (the community's utility token) to obtain the new version of their NFTs (which featured the same rarity but had their attributes re-illustrated). 

Because the DeadGods NFTs were added to the metadata of collectors' original NFTs, they are considered identical and cannot be sold separately. As a result, the addition of DeadGods did not dilute the collection's supply while increasing its value. It gave holders a much-needed boost and drew the attention of many people outside the community. The new NFTs resemble undead and decaying versions.

## DeDAO

DeDao is the community's autonomous decentralised organisation. It is supported by the DeGods' 9.99% marketplace fee, divided into two parts. The 3.33% goes directly to the core team, while the remaining 6.66% goes to DeDAO to help fund project development.

The DeDAO leadership comprised DAO Leads, the DeAlpha Team, and the Divine Council. It also holds community raffles and collaborates to make DAO acquisition decisions.

## Is DeGods a worthy investment?

DeGods can be a decent investment because of their deflationary basis. To preserve the value of holders' investments, the creators have implemented special measures such as the Paper Hand Bitch Tax. 

Furthermore, the ability to eventually convert DeGodz into DeadGods, which generates even more DUST, adds to the benefits of ownership.

DeGods holders may benefit from market news and events for other NFTs. This has been particularly revealed by the recent launch of y00ts, developed by the same mastermind as DeGods, thereby drawing more attention to the NFT due to the launch. Future market events may generate additional interest in this NFT. With all these considerations, DeGods NFTs could be a wise long-term investment.


DeGods NFT: A Solana Project

The non-fungible token market has, in recent years, made tremendous progress. Novel [NFT projects](/news/article/how-to-create-an-nft) are entering the marketplaces, left and right. Recently, one project dubbed a masterpiece is [the Merge NFT](https://opensea.io/collection/m) by Pak, which has made it to our list of “top five [most expensive NFTs](/news/article/most-expensive-nft sold”). 

The project made record sales of [more than $91.8 million](https://www.barrons.com/articles/paks-nft-artwork-the-merge-sells-for-91-8-million-01638918205) by selling 312,686 units to 28,983 collectors within two days. But what makes it unique is that these are interactive and dynamic NFTs. They have an unconventional smart contract that gives them the merging power. 

We understand that it can be quite a puzzling mechanism. Therefore, this article will explore the curious case of the Merge NFT.

## What is the Merge NFT?

It is one of the projects of a highly acclaimed pseudo-anonymous digital art creator [Pak](https://twitter.com/muratpak). It is a collection of interactive NFTs launched in December 2021 with an open edition sale containing bizarre circle-shaped NFTs representing mass units.

However, these NFTs are unconventional as they can be combined as one. They are programmed so that one [wallet](/news/article/best-crypto-wallet) address can only have one Merge at a time. 

To break it down, if you already own an m(1) and go to buy m(2), both these mass units will be fused into one, making m(3). Their masses will add up, and the circle will expand.

m(1) + m(2) = m(3)

In essence, all the units of this collection are one. So, scarcity increases as tokens are fused into one. 

## How does ‘the merging’ mechanism work?

The mechanism is quite similar to the burning mechanism. When two masses are merged, the previous one is burned, and a new and bigger unit emerges. 

Its mechanism works in two parts. Firstly, when these NFTs are being transferred from one wallet to another, it identifies whether the recipient address has a token or not. If yes, it proceeds with merging the smaller unit into the larger one. Essentially, the smaller token is burnt in this process. Meanwhile, at the back end, it tracks the number of merges.  

The second part is for the shape of the new circle. An SVG generator is simply applied to create a circle based on accumulated masses. 

## What makes this NFT distinctive?

The Merge NFT project is distinctive in various ways. For one, it can be regarded as a single token as all of them can be fused if stored in one wallet. Secondly, it creates scarcity uniquely, that is, the 'true burn' process.

Unlike the usual burning, where 0xdead is used, NFTs are transferred to 0x0 to eliminate them from the smart contract.

The introduced [smart contract](/news/article/smart-contracts-blockchain) may have various use cases. For example, [play-to-earn games](/news/article/farming-games-in-metaverse) can use the mechanism to upgrade the players’ avatars, weapons, etc. Additionally, it can be used in credit cards to accumulate credit scores.  

## Bottom line

Though this NFT project may look bizarre, it is fascinating because of its innovative scarcity through which NFTs can be eliminated entirely. The possibility of one collector owning all the tokens as one is quite compelling. And this mechanism has several other use cases as well.



The Merge NFT Explained

World of Women NFT is the epitome of purpose-driven NFT art. It describes itself as a "thriving community" celebrating "representation, inclusivity, and equal opportunities for all".

Yam Karkai founded these non-fungibles in 2021, and since then, they have been skyrocketing in popularity.

World of Women NFTs are generated randomly using a sequence of 11 traits, making each piece unique. Each NFT has a different level of rarity, which allows for further randomisation and, as a result, influences the resale price.

World of Women started as a collectable NFT project of 10,000 generative PFPs made available on OpenSea. They comprised 200 visual assets drawn by hand by WoW artist and co-founder Yam Karkai. The project aims to foster a diverse and positive community for all and encourage women to explore the opportunities on Web3.

The blue-chip NFT project is rapidly growing. Karkai and the WoW team expanded their community's universe in March 2022 by releasing World of Women Galaxy- a collection of 22,222 NFTs created using NFTs from the original collection. The WoW Galaxy collection also comprises 16 1/1 NFTs called Champions and Guardians that were hand-drawn by Karkai.

## What made World of Women so famous?

There are several reasons why World of Women NFT became so popular. One is that, in an NFT space dominated by men, many women were looking for a project that would speak to them. WoW is the NFT ecosystem's leading women-led project. It has arguably done a better job of onboarding women into a Web3 environment heavily biased along gender lines before the project's existence. The community had awaited a project like this to emerge to give women a prominent voice in the crypto world.

The second reason is that many high-profile celebrities jumped on board with the project and began using PFPs on their social media accounts. The project has received support from Eva Longoria, Shonda Rhimes, Napheesa Collier, Reese Witherspoon, and others. Gary Vee, a well-known collector, has acquired 15 NFTs from both collections. These events undoubtedly assisted in raising awareness of the community, firmly securing its current level of fame.

Witherspoon was so fascinated by the project that, in February, she announced that her production company, Hello Sunshine, would collaborate with WoW to expand their universe into various intellectual property types, including feature films and TV series.

## WoW NFT utility

Apart from the eye-catching art, original WoW NFT holders receive various in-community benefits. To begin with, collectors own their image and all rights to it, which means they can use it as they wish, including for commercial purposes.

Holders also gain access to exclusive Worlds of Women Artdrops, a monthly collaboration between WoW and established artists in the community. These WoW-collaboration NFTs were released in "seasons" and came from seven "worlds" with varying themes: Night Realm, Golden Star, Rainbow Orb, and more. 

Another benefit is that possessing a genuine 800x800 WoW NFT grants collectors exclusive access to the 4000x4000 pixel file of the same artwork. This allows users to produce high-resolution prints, derivatives, or anything else they desire. Additionally, WoW NFT owners had the chance to win one of 100 framed prints that Karkai had personally signed. 

Owners of WoW NFTs with rare attributes can also join various clubs. The first is the Curator's Club, in which members choose an artist from whom the WoW Fund will purchase artwork monthly. Members of the Royalties Club, of which only 19 NFTs are eligible, have access to a fund whose proceeds are divided equally among club members.

These are derived from 50% of all secondary sales from the original WoW collection. Finally, the Investor's Club distributes 50% of profits generated by the World of Women Fund to members every month. The primary goal of the Wow Fund is to highlight local artists.

WoW Galaxy NFTs have utility and perks, such as owners being invited to a major gala event in the summer of 2022. Also, holders can access private channels in the project's Discord, allowlist opportunities, concert ticket discounts, and more. WoW Galaxy NFT holders, like with the original collection, own their artwork in every way. Collectors can also contribute to the DAWoW, the project's governing board.

The project team has also revealed surprise airdrops, exclusive access to merchandise for Galaxy owners, and a Sandbox metaverse version of WoW Galaxy NFT characters for NFT holders from both collections.

## WoW works for organisations

World of Women NFT has donated 2.5% of all primary sales. They've given more than $40,000 to She's the First, an organisation supporting local solutions to educate and empower girls in 26 countries.

They also gave a whopping $44,000 to Too Young to Wed, an organisation that deals with child marriage. Charity auctions are also held. GaryVee won one auction, and the proceeds ($44k) were donated to the Rockflower fund.

They also have an emergency fund of $500k to help humanitarian causes in various conflict zones worldwide. This fund has aided people in Ukraine, Yemen, Gaza, and many other places.

## What is the future of the World of Women?

The Sandbox connection indicates where the project will go next. The WoW website says they are "heavily investing in the metaverse." In March 2022, they revealed a new collaboration with the Sandbox to co-found the WoW Foundation.

The WoW Foundation will receive $25 million from the Sandbox over five years. The funds will be used to improve women's representation in decentralised spaces. The initiative is built on four pillars:

•	Giving back to charity organisations.

•	Boosting the ecosystem by supporting artists and funding projects.

•	Voicing to raise awareness of women-centric causes.

•	Educating newcomers.

In addition, 10% of all WoW Galaxy sales will be donated to the foundation.

The WoW Foundation will serve as an incubator, offering mentoring and free online lessons on Web3 topics via the Sandbox, with participants earning an "NFT diploma." Participants in the fund will also have the opportunity to develop business opportunities through the Sandbox's network of partners.

## Bottom line

The WoW universe has become a cultural powerhouse in the NFT ecosystem. It shows no signs of losing momentum. Yam Karkai and her team have crafted a project to be proud of in a uniform NFT ecosystem. With luck, it will continue to inspire women worldwide to build, create, and take advantage of Web3 opportunities.


World of Women NFT Ultimate Guide

[VeeFriends](https://veefriends.com/) has grown to be one of the largest NFTs in volume and community size since its launch in 2021. The founder, Gary Vaynerchuk, also known as GaryVee, became well-known by investing in start-ups experiencing rapid growth. In 2021, he was among the first people to show interest in the NFT market and the potential of Web3.

GaryVee's project, VeeFriends, was launched in 2021 to unite like-minded NFT collectors and celebrate each collection's unique human traits. It was one of the first promises of IRL utility for an NFT, as it doubles as a VeeCon ticket.

VeeFriends and Vaynerchuk have since grown to other NFT collections, but VeeFriends Series 1 remains the most popular and valuable.

## VeeFriends NFT: What is it?

GaryVee's VeeFriends was founded to build a community around Gary's business and creative passions through NFTs. Now, it is one of the most successful NFT membership use cases.

VeeFriends is the umbrella name for GaryVee's NFT collection, which debuted on Tuesday, 11 May, 2021. The VeeFriends brand includes Mini Drops, Book Games, and a large-scale "Series 2" collection, all of which stem from the initial drop of 10,255 VeeFriends tokens.

Within the first collection, or "Series 1," there is a special set of tokens known as G.O.O. (Gary Originally Owned). GaryVee reserved 1,242 tokens (more than 12% of the supply) for his collection, implying that only 9,013 NFTs were initially available.

Each token in the Series 1 is based on one of 268 characters created by Vaynerchuk as representations of human traits that he admires. Gary Vee's NFTs also provide their owners with a variety of benefits.

## VeeFriends Series 1

Series 1 consists of 10,255 NFTs divided into 268 characters. The collection is divided into three levels: Access (300 NFTs), Gift (555 NFTs), and Admission (9,400 NFTs). Of these, 1,242 NFTs belong to Gary and are labelled Gary Originally Owned (G.O.O.), making them more valuable than others.

All of the NFTs in this collection have human characteristics that Gary admires and believes can bring happiness. The Admission NFTs are classified into five rarities: Core, Rare, Spectacular, Very Rare, and Epic, with Epic being the rarest. 

Like most others, each Admission NFT in this collection has amusing animal names such as Karma Kiwi, Keen Kingfisher, Quick Quail, Zestful Zebra, Confident Cobra, Conviction Cockroach, and so on.

Courtside Cat, Keynote Koala, Poker Pirate, Shadow Me Scorpion, and other names are used for Access NFTs. These Access NFTs are utility NFTs that provide Gary with one-on-one access on various occasions.

This collection is available on [OpenSea](/news/article/nft-hackers-passports) for purchase or acquisition using ETH, WETH, DAI, and USDC. 

## Book Games NFT collection

The Book Games were released in August 2021. The Series 1 collection was minted on [Ethereum](/news/article/the-merge-ethereum-nft-impact) (layer 1), whereas the Book Games is a layer 2 NFT minted on Immutable X (an Ethereum layer 2 chain) to reduce gas fees. The game's scope was inspired by his book "Twelve and a Half," making it a valuable tool in the VeeFriends ecosystem.

He used the game to incentivise his community to buy copies of the book in order to receive NFTs because he linked his book to the ecosystem. This collection, according to Gary, contains 125,000 burnable game tokens, and the game can be played indefinitely.

An airdrop announcement stated that for every 12 books ordered by any user during a one-day promotional period, the buyer would receive one NFT. Gary used this strategy to sell one million copies of the book in less than 100 days.

The Book Games collection is divided into three categories: Attributes, Spectacular, and Token Frame. The Spectacular divisions are the same as in Series 1: Bubble Gum, Diamond, Gold, Hologram, and Lava.

Accountability, Ambition, Conviction, Curiosity, Empathy, Gratitude, Humility, Kind Candor, Kindness, Optimism, Patience, Self-awareness, Tenacity, and Special are the 14 attributes that the book's character may drive.

## Mini Drops 

According to Gary, VeeFriends Mini Drops is a sub-collection of VeeFriends that focuses on collaboration, scarcity, and cultural longevity. It is a limited-edition collection distributed to Series 1 collectors as an airdrop.

## VeeFriends Series 2

Series 2 is a massive collection of 55,555 NFTs derived from Series 1. Series 2 includes 236 characters from Series 1 and 16 new characters, totalling around 252 characters. Except for Gift Goat, each character in Series 2 has a total supply of 220 NFTs, with the exceptional Gift Goat having 555 1/1 NFTs.

Series 2 has 76 backgrounds, nine poses, and eight spectacular characters, compared to Series 1's five and one property (984 G.O.O.). Emerald is the first of these Spectacular characters to be revealed, followed by Bubble Gum, Hologram, Diamond, Lava, Gold, and another yet to be announced.

The opportunity to mint Series 2 at 0.335 ETH plus gas costs was given to community members who already owned Series 1 and Book Games. Holders of Book Games (also known as Friend list) received 32,000 NFTs, and the Series 1 holder received 10,255 NFTs. Each collection was given a specific number of NFTs.

On 18 April, 2022, 10,000 NFTs worth of unminted coins was added to the public supply. The 16 newly added characters, totaling 3,300 NFTs, were minted on 27 April, 2022, after the public minting on 25 April, 2022.

## Bottom line

VeeFriends has become one of the market's most influential and distinctive NFT collections. Gary Vee worked hard to establish his name in the [Web3](/news/article/web3-games) industry by meticulously attaching real-world utilities to his NFT collections.

In addition to the projects mentioned above, Gary hosted a special conference in Minneapolis from 19-22 May 2022. The speakers included well-known individuals like Steve Aoki, Danny Cole, Kevin Smith, and Beeple.

This also gave rise to VeeCon, a different NFT ticket that served as a pass for the event to which community members were already granted access. Except for the Book Games, which can be found on VeeFriends and TokenTrove, all of Gary's collections are accessible on OpenSea. The [NFT](/news/article/prime-ape-planet-nft) collection commands a high premium price, as it is associated with GaryVee.





VeeFriends NFT: A Comprehensive Guide

A free NFT giveaway rewards users who take part in the promotion. Free NFT is the new meta in 2022. Everyone wants to reward their community with exciting prizes, whether they are whales, influencers, or brand-new [NFT projects](/news/article/upcoming-solana-nft-projects).

## How to get a free NFT giveaway

The project determines it. Some giveaways are only available to NFT holders, whereas others are intended to attract new community members. In either case, they both seek the same thing: exposure.
There are two types of giveaways you can join:

1.	Retweet and like contests

The rules for these contests are simple and clear. Typically, the project team will ask participants to like and retweet a specific post. Tagging others in the comments section or following other accounts is also sometimes required.

Some organisers reward multiple winners with NFTs, cryptocurrencies, or even cash.
Twitter influencers, projects, and even marketplaces regularly hold such contests. You can find them on Twitter by searching "NFT giveaway”.

2.	Fan art contests

Nowadays, many digital asset initiatives and influencers hold fan art contests. Participants must create original works of art to win NFTs and other exciting prizes. The artwork submissions must frequently draw inspiration from the organisers' projects.

For example, [Deadfellaz's](https://www.deadfellaz.io/) famous "Draw the Undead" derivative art contest required participants to create artwork based on their NFTs. Nonetheless, the team allowed non-holders to participate by drawing inspiration from two of the collectables.

Of course, these competitions require time and effort. They are, however, an excellent way for an artist to gain exposure.

## Who is handing out free NFTs?

Giveaways can be found everywhere these days, from Discord to Twitter and even Reddit. But who is organising these competitions, and where can you find them?

Two types of creators organise them. They are: 

1.	NFT projects giveaways

Giveaways are an effective strategy for growing one's audience, and projects are aware of this. Most new projects run giveaways on Twitter or Discord to gain more followers. Some giveaway their first-ever NFT collectables, while others distribute money, cryptocurrencies, or other resources.

2.	NFT influencer giveaways

Most NFT influencers are as concerned with their community as their projects. Indeed, their free NFTs could be surprisingly inventive!

GaryVee, for example, offered a free [VeeFriends](https://veefriends.com/) for every 12 copies of his book sold during the first 24 hours. This clever campaign made his book "Twelve and a Half" a best-seller, while buyers received free collectables.

However, you should double-check the influencer's account before participating in a giveaway.

## Free NFT giveaway - Legitimate?

"It depends" is the brief response. The digital market is still new to many people compared to other markets, and scammers are aware of this. Unfortunately, thousands of [digital wallets](/news/article/crypto-wallet-multiple-currencies) or accounts have been compromised by hackers.

One of their tricks, for example, is to host free NFT giveaways that requires you to connect your wallet to a specific platform. This should raise a red flag because legitimate influencers or projects do not request personal information or a digital wallet connection in exchange for a giveaway.

Second, keep an eye out for the giveaway prize. If, as the old cliche goes, something seems too good to be true, then guess what? It probably is. Naturally, some initiatives and influencers can be kind, but few would provide large cash prizes.

## Bottom line

NFT giveaways are a fantastic way to grow a community while rewarding current members. You can enter free Twitter contests that require liking and retweeting posts or compete in art competitions to show your talent.

NFT projects and influencers frequently host giveaways, but double-check their accounts before participating! 


Is a Free NFT Giveaway Legit?

GameStop NFT Marketplace is simply described as a non-custodial marketplace built on the Ethereum blockchain, using Loopring, a layer 2 scaling solution, to process transactions. It is a product of GameStop, the world's largest video game retailer.

## History

The GameStop NFT marketplace launched on 11 July, 2022, allowing users to connect their digital wallets, including the GameStop Wallet, to buy, sell, and trade [NFTs](/news/category/nft-news) minted on the platform.

Its wallet was launched in May, even before it went live. It is non-custodial and works as a browser extension for Google Chrome and Brave. Other non-custodial wallets compatible with it include MetaMask and WalletConnect.

Its launch was a great success, resulting in more than 5,000 ETH (almost $7.2 million at the time) in trading volume within the first week. This was more than double the Coinbase all-time trading volume.

The video game retailer built its NFT platform on [Loopring](/news/article/loopring-price-prediction) because of its cheaper transaction fees and scalability. The protocol uses zero-knowledge roll-ups to offer services with cheaper transaction fees and boost scalability.

## Services

Still new in the market, only approved creators can mint non-fungible tokens on it. However, its team is working on adding more functionalities, including categories such as Web3.0 gaming and other Ethereum-based applications.

There are also plans to enable it to support non-fungible tokens from other platforms that live on blockchains it supports.

## How to Use It

### Step 1: Create or connect a wallet

New users have to create or connect a compatible wallet to start using the platform.

### Step 2: Funding

After creating the wallet, it will have to be funded with some [ETH](/coins/eth) to perform any transaction. There are two ways to fund it.

Firstly, users can buy ETH directly from any of the payment providers permitted by the platform. ETH will then be deposited into the user's wallet, allowing them to buy NFTs.

Another way is to transfer ETH from their connected wallet on Ethereum layer 1 to the layer 2 network (Loopring). Because Ethereum layer 1 is involved in the transaction process, users who use this method will incur gas fees.

### Step 3: Buy NFTs

Finally, users can buy their desired NFTs. There is an option to search through the available collections before settling on the one to buy. A "buy now" button will take the user to the checkout window to confirm the transaction.

The platform charges a service fee of 2.25% for every transaction. It also takes a creator royalty fee (in the range of 0-10%, as set by NFT creators). Creators get a royalty fee whenever their NFT is traded on the platform.

## Conclusion

[GameStop](https://nft.gamestop.com/) may still be a new player in the market, but it has already proven it is worth watching. Good things are expected from the platform as it continues to grow and offer more market-competitive services.


GameStop NFT Marketplace

[Liverpool Football Club](https://www.liverpoolfc.com/) made history with the launch of its groundbreaking first official NFT collection, the LFC Heroes Club.

The team developed two types of digital collectibles to ensure that NFTs are available to all its supporters. One is a set of 24 one-of-a-kind "Legendary" NFTs. The other is a collection of generative "Hero Edition" NFTs that combine multiple player illustrations to create an exceptional digital collectable for each supporter.

The LFC Heroes Club Collection shows the Liverpool team in cartoon avatars. Holders of tokens have access to a variety of recurring benefits.

This was a huge step forward for Liverpool and the [blockchain](/news/category/blockchain-news) industry, and it's exciting to wait and watch how the NFT industry matures and grows with time.

## What is the Liverpool Football Club NFT?

Liverpool thinks technology can close the gap with its global fan base. Hence, in April 2022, Liverpool FC unveiled its first official NFT line. It claimed that the 'LFC Heroes Club' will allow supporters to become a part of an 'innovative fan community'. This included access to a community forum, one-of-a-kind experiences, virtual hangouts, tournaments, and retail discounts.

LFC Heroes is the club's charity's second-highest earner. The dynamic manager Jürgen Klopp and the team are portrayed as superheroes in the NFT collection.

The "Legendary" NFTs, made up of 24 heroes, were made available during the sale window through a live auction.

## What benefits would you have if you purchased the Liverpool FC NFT?

You can now become a part of the LFC [fan community](/news/article/music-nfts-fans-community) by purchasing an NFT. The Liverpool Football Club NFT collections have various benefits, including virtual hangouts, competitions, guest appearances, shop discounts, and a Discord chat where collectors can communicate with other members.

Half of LFC's revenues from the 'Legendary' auction go to LFC Foundation, which funds life-changing philanthropic and community programs. An extra 10% of LFC's limited edition 'Hero' sale and 10% of any future resale royalties also go to LFC Foundation.

The benefits of owning an [NFT](/news/article/apple-crypto-and-nft-rules) include access to exclusive content and merchandise and the opportunity to join the LFC Heroes Club fan community.

## Why did the Liverpool FC NFTs see substantial price drops?

The "Legendary" and "Hero Edition" digital collectables were made available for the first time during a three-day sale which ended on Friday, 1 April, 2022, at 2 pm BST. But the club's NFT launch, which appeared ambitious at first, rapidly devolved into a catastrophe, resulting in some supporters losing money, igniting intense resentment. Since just 9,000 of the 171,072 NFTs produced by Liverpool were sold in their first week of availability, the project was an abject failure.

These NFTs were the subject of a significant marketing push, with Liverpool promoting them as a fun and inventive way to celebrate being a Reds supporter. However, if you analyze their campaign, you would find that the advertising was missing one crucial component - a description of what purpose they serve.

Liverpool hasn't necessarily closed the door on a return to the NFT space.

Billy Hogan, the CEO of Liverpool, hinted during the summer that the club hadn't ruled out a return to the NFT market.

Also, Drew Crisp, senior vice president of digital marketing, media, and technology at Liverpool, acknowledged that the launch had been a bit of a learning curve.



Does Liverpool Football Club NFT Hold Value?

As an official partner of Haas F1, they will collaborate with the team and external [contributors](https://www.haasf1team.com/news/haas-f1-team-partners-opensea-future-nft-collaborations) to create a range of branded NFTs. The F1 Team and OpenSea will work together to create an outstanding utility that will bring fans closer to the team and fascinating collections to the NFT community. 

They seek to present new and differentiated collections to the NFT community, with a shared vision of increasing participation and creating unique, best-in-class Web3 experiences.

## Where will the OpenSea logo appear on Haas F1 car? 

In support of the collaboration, the [emblem](/news/article/nft-hackers-passports) will feature on the F1 Team's VF-22 entry for increased exposure. 

"We've been looking for the perfect partner in the NFT area, and we've found it in Guenther Steiner, Team Principal of the respective F1 Team".  

Haas added that they know they will be in excellent hands with the leading peer-to-peer marketplace guiding them on their collections and fan interaction opportunities since OpenSea is an industry leader with innovation at the heart of all they do.  

According to Shiva Rajaraman, [NFTs](https://www.thepaddockmagazine.com/opensea-and-haas-f1-team-sign-a-partnership-agreement/) can unlock new experiences and provide a canvas to bring people together in new ways around the things they love. We're excited to work with the F1 team to create unique collections, new experiences for their devoted fan base, and new opportunities for everyone to come even closer to the action.

## What is OpenSea? 

OpenSea is the world's leading peer-to-peer marketplace for NFTs. They are on a mission to help the world's creators, collectors, and collaborators own and shape their relationships directly. We're building the world's most trusted and inclusive NFT marketplace with the best selection.

The leadership team is based in New York and includes Google, Palantir, Lyft, Uber, Stanford, and Berkeley members. a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital are among the investors.


Haas F1 racing team's collaboration with OpenSea

The newly announced Coinbase NFT platform already has more than 1.35 million people on the waiting list.

Coinbase Global Inc., a popular and heavily used ‘gateway’ for new investors making their first purchases of cryptocurrency like bitcoin and Ether, recently announced a soon-to-be-launched platform dedicated exclusively to trading of Non-Fungible Tokens (NFTs). It will be known as Coinbase NFT.

Since being founded in June 2012, Coinbase has experienced explosive growth in terms of the company’s popularity with cryptocurrency newcomers. The popularity of the exchange can be attributed primarily to how well the company’s trading platform accommodates newbies making their initial cryptocurrency purchases.

## Coinbase Announce NFTs

Now, with Coinbase NFT it hopes to become the next “first stop” for investors who have developed an appetite for the raging NFT market. And why not? The NFT market went stratospheric in the third quarter, recording a mind-boggling sales volume of more than $10 billion. 

Historically, much of the NFT trading activity has taken place on exchanges like Nifty Gateway, [Rarible](https://rarible.com/), and OpenSea. The latter of the three, OpenSea, has thus far handled the lion’s share of the market’s NFT trading volume. In fact, the site saw more than $3 billion in transaction volume in the last 30 days alone. Should Coinbase NFT be as successful as the company was with their original cryptocurrency platform, the company stands to gain considerably from a very lucrative NFT exchange market.

## What are NFTs?

While it’s hard _not_ to be aware of the recent NFT mania, there are those of us still struggling to gain a clear understanding of what these little rascals truly are. For my part, NFTs are certainly a niche market, _very_ niche. And their explanation is comically simple: NFTs are _digital versions_ of collectible items, like digital art. That’s it. Ultimately, NFTs give investors the ability to lay claim to digital content that they can store in personal digital wallets like they can with other cryptocurrencies. The types of NFTs are widely varied, but the NFTs that have been especially newsworthy lately are digital artwork NFTs.

According to Coinbase, their new NFT platform will be a digital marketplace “where you can mint, collect, discover, and showcase your NFTs, all in one place.”  If the new Coinbase NFT platform is successful at demonstrating that the process of buying NFTs can be just as simple as it is to buy cryptocurrencies, then Coinbase popularity will only further accelerate once their NFT site is online. 

## A New Way of Art Collection

The fun and pride-of-ownership that are so inherent in certain collectibles, like baseball cards, has always been something we enjoyed not only as kids, but as adults as well. Once an easy-to-use platform like Coinbase NFT is available, it will likely generate an entirely new segment of art collectors in our society, and that’s a good thing for the artists behind the NFTs.

1.3 Million in Line for New Coinbase NFT Platform

Instagram is set to launch nonfungible token-related tools that allow NFT minting and trading. 

Instagram parent company Meta [announced](https://www.facebook.com/creators/2022-launching-new-creator-tools) at its Creator Week 2022 event on November 2 that the platform would allow its creators to create "digital collectables" and sell them "both on and off Instagram."

## Instagram to launch NFT minting and trading toolkit

Meta claims that creators will have an "end-to-end toolkit" for creating, displaying, and selling NFTs on the platform and that the Polygon blockchain has been chosen as an initial partner for this functionality.

According to the company statement, Meta will first roll out the new NFT features to a chosen group of artists and content creators before making them available to a wider audience. Those selected for early access to the new Instagram NFT features are photographer DrifterShoots, visual artist Ilse Valfré, and artist Amber Vittoria.

In addition to [Ethereum](/news/article/the-merge-ethereum-nft-impact), Flow (FLOW), and [Polygon](/news/article/polygon-nft-drops-2022), Meta has revealed its support for the Solana blockchain and its widely known wallet, Phantom.

Support for video NFTs will be added, allowing retrieval of NFT metadata from OpenSea to display collection names and descriptions on Instagram.

Stephane Kasriel, Meta's head of commerce and financial technology, stated that Meta will not charge fees to create or trade digital assets until 2024 and that blockchain gas fees for purchasers will be covered by Meta "at launch." However, he did not specify how long the launch timeline would be.

Kasriel also stated that digital asset trading would still be subject to app store charges referring to [Apple's 30% commission on NFT sales](/news/article/apple-crypto-and-nft-rules), which has been heavily criticised for being higher than the average 2.5% commission imposed by marketplaces such as OpenSea.

Buyers will not be able to buy Instagram NFTs using [crypto](/news/article/crypto-wallet-multiple-currencies) through the app because both Google and Apple only allow in-app purchases using fiat currencies. Both prohibit buttons, external links, or other actions that enable users to avoid commissions.

Meta has not disclosed how much of a commission it intends to take from NFT sales, nor has it revealed the details of its creator royalty's system. It is also unclear whether it will follow recent [NFT marketplace](/news/article/magic-eden-expands) pushes to move to opt-in royalty models.




Instagram plans to launch NFT minting and trading

The Adidas NFT collection earned more than $23 million with its first drop of the shoe company's 'one of a kind' Into the Metaverse non-fungible token.

Adidas reported raising $5,924 in Ethereum (ETH) via the sale of the [Adidas NFTs](https://twitter.com/adidas) at 0.2 ETH each, for a total of 30,000 digital assets, just minutes after the drop.

Non-fungible tokens have rapidly evolved from a niche use case in blockchain to a game-changing idea that major corporations are rushing to adopt. In November, the Adidas Twitter profile announced a deal with cryptocurrency exchange [Coinbase](https://www.coinbase.com/) and made a sizable land purchase on [The Sandbox](/news/article/sandbox-games).

Rather than a one-time deal, Bloomberg reports that the Sportswear firm has applied for seven trademarks. This makes sense, as NFTs are a crucial part of the Adidas Metaverse.

## The beginning of Adidas NFT minting

The company's Into the Metaverse series of NFTs began with the announcement of a cooperation with gMoney, [Bored Ape Yacht Club](/news/article/bored-ape-nft), and PUNKS comic before sales even started.

Adidas describes the Metaverse as a space where anyone can express their ideas and be their authentic self, in 'whatever for that may take'. It adds the platform invites 'original thinkers and doers' to join the company for a 'new age of originality'.

Anyone owning one of these NFTs has access to The Sandbox plot, where they can experiment with the merging of real-world and digital goods and locations.

Despite the fact that the auction has concluded, the team has taken to social media to reassure early adopters that the opportunity to acquire tokens is still very much open to them. Also, the Opensea marketplace is still a viable option for people interested in purchasing one.

It's currently perceived by many as the best public exchange allowing for the buying and selling of the Adidas series.


Adidas NFT Brings in $23m with first drop

Tech powerhouse Apple has published crypto and non-fungible token-specific rules in its App Store policies.
The new rules specify what uses of NFTs are permitted and prohibited. It also discusses when a cryptocurrency exchange app can be listed. 

It allows apps to make use of in-app purchases to "sell and sell services" associated with NFTs, such as "listing, minting, and transferring."

Additionally, it restricts NFTs obtained elsewhere to viewing only.

Furthermore, new Apple crypto guidelines prohibit apps from including "external links, buttons, or other calls to action", which may allow users to avoid app-store transaction fees when buying NFTs. It will also forbid apps from using "QR codes, cryptocurrencies, and cryptocurrency wallets" to unlock any content or functionality.

The guidelines also do not allow the use of cryptocurrency for in-app purchases, instead allowing only fiat purchases such as debit or credit cards with a "valid payment method".

The tech company seems to be stepping up its NFT "Apple tax", which comprises in-app NFT purchases in its standard 30% fee on all purchases, by mandating that all [NFT](/news/category/nft-news) transactions take place within apps.

## Apple NFT taxation

Apple has been working on a framework for NFT sales for quite some time. Regarding token taxation, Apple has integrated in-app purchases to apply a standard 30% commission rate on all purchases. 

The tech firm has been criticised for charging a 30% commission on NFT sales made via apps from popular NFT marketplaces such as OpenSea or Magic Eden. Many people have described this taxation as "grotesquely overpriced". The average commission on NFT purchases is around 2.5%.

Because of the high taxes, Magic Eden has reduced their functionality and removed its services from the App Store. 

Users can only browse and view their NFTs with the [Magic Eden](/news/article/magic-eden-expands) Apple app.

## Bottom line

The new Apple crypto guidelines do not alter the company's existing policy on cryptocurrency trading apps provided by exchanges such as [Binance](/news/article/guide-to-binance-uk) and [Coinbase](/news/article/coinbase-singapore-approval), where crypto trading is exempt from the 30% "Apple [tax](/news/article/uk-crypto-tax-regulations)".

New language, however, was added to clarify that crypto trading apps can only be provided in "countries or regions where the application has appropriate licencing and authorisations to provide a cryptocurrency exchange".



Apple Crypto and NFT Rules Published

[Axie marketplace](https://app.axieinfinity.com/marketplace/) is the authorised marketplace for the popular NFT game Axie Infinity. This marketplace is your convenient go-to option to find in-game items, including Axies, digital lands, and bundles of things players could use in this NFT game.

[Axie Infinity](/news/article/axie-infinity-price-prediction) is a blockchain-based play-to-earn game where players buy NFTs of digital creatures called Axies and use them to engage in combat with one another. The gamers can use these creatures in battle, exploration of the game world, and breeding to produce young Axies. The Ethereum blockchain has a unique genetic profile for each Axie. Six of the many possible bodily parts are available to each of these creatures, where every body part has a combat manoeuvre. Thus there are countless possible combinations to make one-of-a-kind miniature combatants.

## How would one purchase in-game items on the Axie marketplace?

You will need three Axies to begin playing this game, which you may purchase from other players through the official exchange.

Utilise Ronin Bridge to transfer funds from an Ethereum wallet to a Ronin wallet. Most participants typically make deposits or withdrawals via a centralised exchange using their MetaMask wallet. The second method involves using the Ramp Network to purchase ETH on Ronin with fiat currency. Unfortunately, Ramp Network is still in its development stage and is not available in all countries.

## What is the fee structure for buyers and sellers on the Axie Infinity marketplace?

The buyers can purchase [NFTs](/news/category/nft-news) without any fee, which attracts many curious and eager gamers to this play to earn the crypto game. However, the Ethereum gas fees need to be covered for depositing Ethereum to your Ronin Wallet, which is required to use this platform.

Sellers do have to pay a 5.25% selling fee. If there is a creator code, 1% of the charge goes to the NFT's creator and 4.25% goes to the Community Treasury. The Community Treasury gets the entire 5.25% if there is no creator code.

## Is it secure to use the Axie marketplace?

Hackers have previously tried to attack this marketplace, and some players witnessed their accounts getting compromised. 

Hackers used phony job interviews to steal $620 million from [Axie Infinity](/news/article/axie-infinity-price) this past spring in 2022. Also, in November 2021, the platform experienced one significant security lapse when its Discord channel was compromised. The hacker distributed a false bulletin with a link to an Ethereum theft website. In retaliation, Axie Infinity paid back everyone who had lost money due to the announcement and improved the security of their Discord channel.

Your Ronin Wallet is where your NFTs are kept, so as long as no one else gains access to it or learns your seed phrase, they will be secure.


Axie Marketplace: The In-Game Purchase Platform

Latest NFT News 

Moni Talks brings you the latest in NFT news, drops and analyses. 

Non-fungible tokens (NFTs) are unique digital assets that cannot be copied or exchanged for another type of digital asset. They are usually in the form of art, music and games.

An NFT allows someone to own a unique digital item. Popular NFT drops include Bored Ape Yacht Club, Disney, Adidas and Hugo Boss.

Latest Moni

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