Bitcoin NFT Sales Dip, Roblox's Real-Time Translations, and Samurai Lifestyle NFTs by Japan Airlines
Summary:
The week's key developments include a 61% sales dip for Bitcoin-based NFTs in January, Roblox's introduction of a real-time, AI-powered translation feature, the collaboration between GoDaddy and Ethereum Name Service (ENS) to link Web3 and Web2 domains at no extra cost, and Japan Airlines unleashing an immersive NFT project allowing holders to live a virtual samurai life. Despite the slowing NFT sales, a resurgence is expected due to the upcoming Bitcoin halving.
This week's update highlights the slump in sales of Bitcoin-based nonfungible tokens (NFTs) in January, Roblox's new real-time translation feature, a collaboration between GoDaddy and Ethereum Name Service (ENS) to link Web3 and Web2 domains, and the launch of NFTs by Japan Airlines that offer a virtual samurai experience. Bitcoin's NFT sales experienced a 61% drop, going down from $868 million in December 2023 to $335 million in January. NFT author, Anndy Lian, in an interview with Cointelegraph, attributed this to an oversaturated market with a multitude of new projects. However, he anticipates that the impending Bitcoin halving will stimulate renewed interest in Bitcoin's NFTs.
The online gaming platform Roblox has introduced a real-time translation feature powered by artificial intelligence, allowing users to chat in different languages. Developed in-house, the large language model (LLM) can currently translate 16 languages.
A recent partnership between ENS and domain registrar GoDaddy allows Web3 users to link their .eth domains to Web2 domains at no extra charge. This move circumvents high gas fees that have previously discouraged users from porting domain names to ENS. Given that ENS domains are favoured by NFT holders for their user-friendly formatting, this cost-free transition is facilitated by new smart contracts.
In collaboration with marketing firm Hakuhodo, Japan Airlines is offering a unique NFT project called Kokyo NFT, which tokenizes local experiences and physical assets. The goal of the project is to foster relationships between holders and local communities. Among the offering is an NFT that simulates life in a samurai mansion, as part of a samurai family.
On another note, reports claim that in January, NFTs recorded superior performance compared to Ether (ETH). NFT indexes showed almost a 10% gain during the month, while ETH increased only by 2.3%.
Be sure to check back next Wednesday for further updates and developments in the NFT realm.
Published At
2/7/2024 11:00:00 PM
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