Immutable X has announced that it has saved traders of NFTs over $1.3 million in gas fees. Thanks to its launch of Immutable X.

Immutable X allows users to trade NFTs without having to worry about paying gas fees. The use of zk-rollups means users can now mint and trade cheaper priced NFTs without the hassle of paying enormous gas fees on the ethereum network.

Immutable X saves traders $1.3 million
The technology currently only supports a part of the trading card game Gods Unchained. While the technology will likely expand to add more projects in the future, Immutable X saw 33,479 Gods Unchained NFT trades completed within one week. Savings traders a staggering $1.3 million in gas fees.

The Ethereum layer-2 solution is built specifically for the creation and transfer of NFTs. The technology is set to change the way traders transact, allowing microtransactions to now occur thanks to the no gas fee feature.

Cofounder of Immutable Robbie Ferguson commented on the highlight, “The reason why I’m incredibly proud of the average trade $20 stat, is no $20 trades are happening on mainchain right now due to gas costs. Through Immutable X, we’ve opened up artist experimentation and whole new economies of high volume, micro trades. That’s  31k trades for people, never before possible. Immutable exists for emerging creators and artists and this is immensely rewarding to deliver for our community,” said Ferguson.

The importance of such technology is clearly evident as Immutable X saw 2.8x more transactions through its layer-2 technology than ethereum Layer 1 saw in the same time period. 

The future of zero gas fees looks bright
Immutable CTO Alex Connolly commented on the difficulties of trading NFTs on the ethereum network, “Building an NFT application on Ethereum is even harder. Together with StarkWare and their incredible STARK-rollups, we’ve built a new solution to make NFTs ready for mainstream users and developers without compromising the decentralisation of Ethereum,” said Connolly .

The future of NFTs has begun to look brighter than ever with the release of Immutable X. The technology is set to save NFT traders significant amounts in gas fees. Immutable X is set to change the landscape of how NFT trading is done with their latest feature.

With ethereum gas fees continuously on the rise, traders are looking for ways to save on gas fees. Ferguson sees this as the first step in transforming the way assets are owned and traded.

Immutable X Saves NFT Traders $1.3 Million in Gas Fees
https://cryptonews.net/551138/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Celebrity Paris Hilton has joined the non-fungible token (NFT) movement by launching her very own NFT collection.

Paris Hilton has collaborated with designer Blake Kathryn to launch her own collection of NFTs. The series features three unique pieces.

Two out of the three pieces offered multiple sales. ‘Hummingbird in my metaverse’ and ‘legend of love’ both featured 11 editions for sale. With the ‘Iconic Crypto Queen’ NFT only offers one edition.

Hilton NFT series sells out
Both ‘Hummingbird in my metaverse’ and ‘legend of love’ have sold out at $10,000 each. Brining in $220,000 in sales for Hilton.


Source: NiftyGateway
Currently the ‘Iconic crypto queen’ auction is set to conclude on Sunday. With the current bidding sitting at $1.11 million.

Hilton describes herself on her Nifty Gateway NFT bio as “an icon in every endeavor she’s pursued, from the original influencer to a wildly successful dj and innovative business woman.”

Hilton further explains her journey into NFTs which she says began last year with her charitable NFT titled ‘Cryptograph of Munchkin.’

NFT adoption continues to grow
Hilton’s new series called Planet Paris is currently a huge success. With her latest set of NFTs set to rake in $1.5 million. Hilton states on her bio “We hope it transports you to an ethereal moment of peace like it has for us”

NFT adoption continues to grow as celebrities, athletes, musicians and artists continue to offer their own NFTs to fans. Auction houses such as Christies have also begun to adopt the idea of auctioning of digital art.

Paris Hilton Launches Own NFTs, Selling for Over $1.11 Million
https://cryptonews.net/552082/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Luxury auction house Sotheby's has auctioned off a non-fungible token (NFT) for nearly $17 million.

The NFT, titled "The Fungible," was created by Pak, an anonymous digital artist, and was auctioned in a two-day sale on NFT marketplace Nifty Gateway. In the two days, the sale garnered a total of $16,825,999.

The collection included NFTs in the form of digital "cubes." The individual NFTs were: A Cube (1), Five Cubes (5), Ten Cubes (10), Twenty Cubes (20), Fifty Cubes (50), Hundred Cubes (100), Five Hundred Cubes (500), and Thousand Cubes (1,000).

While the total amount made from the sale pales in comparison to the staggering $69.4 million that popular auction house Christie's made on its Beeple 5000-day collection sale, the collection still fetched numerous bids in the 48 hours it was listed.

The sale encountered some technical difficulties which Sotheby's says were resolved. Nifty Gateway experienced issues with processing credit card payments on April 13, but the sale was restarted shortly afterward.

Pak, whose identity remains a mystery, has been active in the world of digital art for over twenty years. In addition to using technology to create artwork, they are also the founder and lead designer of the studio Undream. In addition to this, Pak also created Archillect, an AI that finds and displays visual media.

"This was an incredible journey with you all. Thank you," they tweeted. "Now, we keep building."

Auction house Sotheby's Pak NFT sale yields nearly $17M
https://cryptonews.net/549486/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

The beginning of 2021 was marked by an unprecedented high interest in nonfungible token, or NFT, technology in various fields, the peak of which occurred in March. Nowadays, news about art deals with NFTs appears every day. What is more interesting is that NFTs are becoming fashionable among people who were previously ignorant of crypto.

Examples of how the NFT mania is reaching its peak can be seen through Beeple selling his art piece for almost $70 million and the likes of the Hermitage Museum in Saint Petersburg, Russia, announcing that it will hold an exhibition of NFT art in 2021.

What is the reason for such interest in NFTs, besides the hype generated by celebrities supporting the technology? Can a regular crypto enthusiast actually engage with NFTs in a user-friendly way?

So, why are NTF platforms developing so quickly, and what exactly are they? Here’s why NTF platforms are becoming crucial for attracting the art community, how these platforms actually work, and what they can offer their users apart from just being a type of marketplace.

The basics
The whole point is in the NTF itself, in its uniqueness. It cannot be replaced, faked or divided. The author of the token can prove their ownership, or the fact that a transfer of said ownership has taken place. That is, the owner of such a product can tokenize it by releasing an NFT, assigning a price to it and putting it up for auction. The buyer of such tokens receives the right to own and dispose of the goods, while information about this is recorded on the blockchain.

Operations with tokens are obviously cheaper, easier and faster than operations with real objects, although platforms for creating and selling NFTs have just begun to develop. However, NFTs are not completely covered by law, and proving ownership in terms of intellectual property rights may be challenging. Yes, unfortunately, not everyone accepts that blockchain is a legal record-keeping method.

What rights does the buyer have who spends their hard-earned dollars on the author’s token? If there is no legal agreement between the creator and the buyer of the NFT, the exclusive rights do not simply pass to the buyer with the purchase of the token.

Other rules may be established by the platform, but today, the standard terms of the largest platforms do not contain such rules. It is likely that the platforms will give the NFT creators the right to choose the licensing terms themselves.

Of course, any financial instrument cannot live long without state regulation. Here, NTFs are likely to take the path of conventional cryptocurrencies, and some believe that lawmakers will eventually intervene.

First is security, second is NFT
NTF platforms offer content in a variety of formats, so everyone can choose what sphere of art they wish to enter. But before getting in the industry, it is worth understanding how they work and whether they are safe, with regard to the potential risks.

For example, an NFT exists on the Ethereum blockchain. Having chosen the NFT platform, the user would need to create an Ethereum wallet, from which unique tokens will be bought and sold. Wallets help to authorize users on the platforms, in most cases without entering additional data like a username or password, as the wallet identifies the user using their wallet address. Some platforms require users to buy a native token to then purchase the artwork.

The principle of operation of any NTF platform is simple: Users come to the platform in order to secure the right to the created or purchased content, and as a confirmation, they receive a token, which can be freely traded with another user. From the point of view of security, the NTF itself already acts as a guarantee, as the blockchain contains information about the owner, whether they are a creator or a buyer.

But this does not mean that by buying an NFT, users can relax, as they are not safe from thefts on NFT platforms. For example, in March, the Nifty Gateway trading platform reported that some users were faced with account hijacking, theft and purchase of NFTs using a credit card without their knowledge. However, it turned out that none of the accounts had two-factor user authentication enabled.

It is not a question of poor security of NTF platforms, rather of the lack of knowledge on behalf of the users. All valuable items need to be stored safely, and NFT tokens are no exception. It’s not enough just to buy a token and store it on the platform — users need to protect their account and enable two-factor authentication, keep their password in a safe place, and indeed, most platforms provide such opportunities. Each owner of a valuable NTF must understand their responsibility and protect their item.

The NTF platforms
A regular person will usually purchase NFTs on special platforms — marketplaces, where tokens can be bought or sold. One of the largest and most popular marketplaces is OpenSea. This site contains thousands of different NFTs, from game cards to paintings by contemporary artists. The platform also maintains their ratings and tracks the most popular tokens.

Another marketplace is SuperRare, where digital art can be bought and sold but cannot be traded directly between users. On this platform, artists validate their work by creating a tokenized certificate. They set a selling price and allow potential buyers to bid on their pieces. The investment aspect of SuperRare is its aftermarket. Anyone can resell a purchased piece of art as if it were at a regular auction.

In the field of sports, the most interesting platform as of yet is NBA Top Shot. The concept of the project is to publish and sell digital basketball collectible cards. However, instead of static images of players, NBA Top Shot cards contain video clips from past games. Each token is truly a unique piece of memorabilia.

But is there something else besides marketplaces? Is the NFT industry limited to such projects with a buy-and-sell concept? Of course not. Today, some interesting projects are emerging, representing a variety of financial opportunities.

Some platforms are striving primarily for the convenience of NFT purchases, where a user can buy an item they like with a regular credit card. For example, Crypto.com’s NFT project does this by attracting as much unique content as possible, not only in the field of games but also from popular artists, musicians and athletes — to be multifaceted. It will be possible to purchase valuable items on the platform using cryptocurrencies.

The platform Rarible has become very popular, as it enables artists to collect royalties every time their work is resold. Rarible introduced a governance token called RARI and is taking steps toward developing itself into a decentralized autonomous organization. RARI tokenholders, who include NFT creators and collectors, can vote on platform updates and participate in market moderation.

The developers of the project are also planning to launch an NFT index — a special search engine for those who want to invest in the NFT market but are not sure which works of art to choose.

For those who like creative design, there is a project called Art Block. It’s one of the first platforms focused on the automatic generation of programmable content that is stored on the Ethereum blockchain. The uniqueness of the platform lies in the creation of an endless amount of content that can be bought and sold as NTFs.

Users on the platform can choose the art style that suits them and pay for the piece of work, and the platform will randomly generate a piece of content in the form of an image, 3D model or interactive design.

In general, it seems that crypto enthusiasts need much more than simple marketplaces to buy or sell NTFs. This is where multiplatforms come into play, enabling its various groups of users to create both unique content and invest in art. NFT platforms are no longer only a place for tokenizing digital art and various collectibles, they are also a mechanism for attracting users.

“Tehn,” a community manager at Blockchain Cuties Universe — a game that operates on four blockchains at once and stores game inventory in the form of NTFs — believes that NTF platforms can eventually offer a much more interesting approach than simple marketplaces:

“I believe that a vast majority will be marketplaces at first. But there’s more uses for NFTs. Games already utilize them to store value in the game asset and give players full control of their inventories and even monetize their ingame time. That’s the beauty of it. Blockchain allows developers to create great assets, and empower players to play their game, while having full control of their account.”

NFT platforms: Going beyond marketplaces to deliver unique content
https://cryptonews.net/550454/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

April 15th, the anniversary of Leonardo da Vinci's birthday, was chosen by UNESCO and IAA to celebrate World Art Day. Here's how Tezos (XTZ) blockchain allows digital artists to take part in the global initiative.

Tezos-based NFT marketplace will help free flow of information
According to the official announcement by Tezos (XTZ) developers, a Tezos-based platform for NFT minting, storage and trading, Hic Et Nunc, is a part of the global celebration of World Art Day.

Hit et Nunc invites artists for World Art Day
Digital artists from around the world will be creating their artwork on Hic Et Nunc to cover the #NFTForAll theme. Then, an auction will take place.

All funds raised will be donated to Creative Commons non-profit organization, the global network of enthusiasts who advocate free sharing of information between people.

Tezos (XTZ) initiative is coordinated by several recognized artists who desire to promote NFT marketplaces as the new-gen method of art trading and raise money to achieve ambitious charity goals.

Reconsidering art markets and NFT trading: What is Hic Et Nunc?
The Tezos (XTZ) team adds that artists from the United States, Belgium, Philippines, Turkey, Germany, Malaysia, Mexico, Ireland, Canada, Croatia and Spain confirmed their participation in the event by Hic Et Nunc.

Hic Et Nunc, which is Latin for Here and now, is a unique NFT marketplace. It gained traction in the last few weeks, ending up ranked the tenth NFT platform in the world by The New York Times.

Unlike Ethereum (ETH) and Tron-based marketplaces, Hic Et Nunc by Tezos (XTZ) proudly adheres to a "low-to-no" carbon emission model—thus, becoming the first-ever environment-friendly marketplace for digital raribles.

Tezos-Based NFT Platform Hic Et Nunc Celebrates Leonardo da Vinci's Birthday, Here's How
https://cryptonews.net/548602/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

The sector of non-fungible tokens has reached the living soccer legend, Pelé. The Brazilian will have his own NFT collection honoring his legacy, dropping on May 2nd on the popular Ethernity Chain platform. 90% of the proceeds will be donated to the Pelé Foundation.

Pele’s Legacy to Live as NFTs
Edson Arantes do Nascimento, better known in the soccer world as simply Pelé, is the latest celebrity to embrace the rapidly growing world of non-fungible tokens. According to a press release shared with CryptoPotato, the three-time FIFA World Cup winner will have his illustrious career immortalized on the blockchain-based NFT platform Ethernity Chain on May 2nd, 2021.

The statement outlined the massive adoption from fans in regards to physical vintage Pelé soccer cards, some of which would serve as inspiration for the upcoming digital NFTs. Following the first batch scheduled to be released on May 2nd, Ethernity Chain plans a follow-up later in the year.

It’s worth noting that the majority (90%) of the proceeds will be used to fund the Pelé Foundation. It’s a charity organization that focuses on empowering and educating children battling poverty around the world.


Prior to announcing plans to create 3D collectible trading cards following the career of one of the greatest soccer players of the 20th century, Ethernity Chain had already made a name for its self with numerous large projects.

Previous endeavors included NFTs for the artist BossLogic and the skateboarding legend – Tony Hawk. Furthermore, Ethernity Chain intends to launch a digital collection for the late, great boxing behemoth – Muhammad Ali.

FIFA World Cup Champion Pelé NFT Collection to Drop on Ethernity Chain
https://cryptonews.net/548606/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Renowned NSA whistleblower and computer analyst Edward Snowden is the latest public figure to throw his hat into the digital collectible ring, with the launch of his first non-fungible token (NFT).

Titled "Stay Free", the NFT depicts the face of a pensive Edward Snowden as a cut-out, with the background made up of the complete documented court decision ruling that the National Security Agency's mass surveillance violated U.S. law. The portrait of Snowden was taken by prominent British photographer Platon, and was used with permission.

Edward Snowden is now on Foundation. 🌐

A vocal advocate for pioneering uses of technology to empower journalists, readers, and the public, @Snowden will release his first NFT tomorrow.

All proceeds will go to @FreedomofPress.

→ https://t.co/GQOmbP71jh pic.twitter.com/XWQqLiITUG

— Foundation 🌐 (@withFND) April 15, 2021

NFTs are unique crypto tokens that can be used to lend scarcity to digital content such as images and videos. In recent months there's been an explosion of interest in them, with artists selling NFT images and GIFs for millions of dollars.

Edward Snowden Set to Auction His First Ever NFT
https://cryptonews.net/544396/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

The ‘Godzilla vs. Kong’ movie, a spin-off of movie characters Godzilla and King Kong, has now got its own exclusive line-up of non-fungible tokens (NFT), CryptoSlate learned in a release.

There's still a chance to get hold of one of these glowing Godzilla 3D figures!

4 left of ONLY 10 MINTED.#NFTCommunity #NFTdropVsKong https://t.co/8YNy3HwDRA

— Terra Virtua HQ | Collecting. Reinvented. (@TerraVirtuaHQ) April 13, 2021

So what does Elon Musk have to do with it? He loves the movie (according to his most recent Tweets)!

Godzilla vs Kong is so amaze much wow!
Most insane movie I’ve ever seen!
Love letter to conspiracy theorists!
And yet heartwarming in the end.

— Elon Musk (@elonmusk) April 5, 2021

The Godzilla movies have always been popular, in fact in the series there have been 38 movies made so far, so Godzilla might look scary but the scaly giant has found his way into the heart of movie fans everywhere.

Terra Virtua Godzilla Collectibles
To mark the latest epic movie, Terra Virtua, a blockchain-powered marketplace, has released their incredible Godzilla NFT collectibles to fanfare. The marketplace focuses on NFTs while even providing ‘exhibition’ spaces for those.

Unlike other marketplaces, Terra Virtua users can work with major brand owners to create digital collectibles from their intellectual property which they then sell, they also display the NFTs by providing the utility for using the NFTs clients purchase.

the Terra Virtua ecosystem offers 3 different virtual exhibition spaces—The Fancave, The Terradome, and the Art Gallery—and users can show them off via augmented reality apps on their mobile phones or PCs after the purchase is made.

There's still a chance to get hold of one of these glowing Godzilla 3D figures!

4 left of ONLY 10 MINTED.#NFTCommunity #NFTdropVsKong https://t.co/8YNy3HwDRA

— Terra Virtua HQ | Collecting. Reinvented. (@TerraVirtuaHQ) April 13, 2021

Who Are Terra Virtua?
It started off in a Starbucks, as so much often does. Jawad Ashraf, the cofounder pitched the first concept to Gary Bracey. From there they started fleshing out the idea.

Jawad was always working on building companies based on disruptive technologies and saw blockchain and the permanent ownership of digital assets as the next step from in-app and in-game purchases.

Both Jawad and Gary wanted to take this idea of theirs mainstream, as Gary had an extensive track record in licensing properties from Hollywood and beyond, and the duo saw VR as key to the next step of interactivity.

Initially, with an NFT focus on VR, they expanded the vision to include every digital touchpoint for an asset owned by a person, such as an online marketplace, mobile, 3d desktop, and VR.

They successfully raised $2.5 million in September 2020 in a massively oversubscribed funding round, which was a long time before ‘NFT’ mania hit the mainstream. And that has since converted into Terra Virtua becoming one of the top digital collectible platform that offers truly immersive experiences for users.

Elon Musk's favourite 'Godzilla' movie has got its own exclusive NFTs
https://cryptonews.net/539008/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared