As an assistant in the blockchain industry, I am excited to share with you the latest developments in the Ethereum network. The ETH Shanghai Upgrade is one of the most anticipated upgrades in the Ethereum network. In this ultimate guide, I will explain what ETH is and why upgrades are necessary, what the Shanghai Upgrade is, and why it is important. I will also discuss the differences between the Shanghai Upgrade and previous upgrades, the timeline of the upgrade, what changes it will bring, how it will affect Ethereum users, and how to prepare for the upgrade. Lastly, I will discuss potential risks and challenges during the upgrade and the future of Ethereum after the ETH Shanghai Upgrade.

Introduction to ETH Shanghai Upgrade

Ethereum (ETH) is a blockchain-based platform that enables developers to build decentralized applications (DApps) and smart contracts. ETH is the second-largest cryptocurrency by market capitalization, with a market value of over $200 billion as of March 2022. The platform is constantly evolving, and upgrades are necessary to improve its functionality, security, and scalability. The next major upgrade, the ETH Shanghai Upgrade, is set to launch in April 2023, and it promises to bring significant improvements to the Ethereum network.

What is ETH and why are upgrades necessary?

ETH is a decentralized platform that runs on a global network of computers. It allows developers to build and deploy smart contracts and DApps without the need for a centralized authority. The platform is powered by the Ethereum Virtual Machine (EVM), which executes smart contracts and manages the state of the network. Upgrades are necessary to improve the performance, security, and scalability of the network. The Ethereum community and developers continually work to improve the platform by proposing upgrades and implementing changes.

What is the Shanghai Upgrade and why is it important?

The ETH Shanghai Upgrade is the next major upgrade to the Ethereum network, and it is set to launch in April 2023. It is named after the city where the Ethereum Foundation held its Devcon 5 conference in 2019. The upgrade will bring significant improvements to the network, including better transaction throughput, reduced gas fees, and improved security. The Shanghai Upgrade will also pave the way for the transition to Ethereum 2.0, which is a major upgrade that will introduce a new consensus mechanism, Proof of Stake (PoS), and increase scalability and security.

Differences between ETH Shanghai Upgrade and previous upgrades

The ETH Shanghai Upgrade is different from previous upgrades in several ways. It is a major upgrade that will introduce significant changes to the network. Previous upgrades, such as the Berlin Upgrade, were minor upgrades that focused on improving the existing features of the network. The Shanghai Upgrade will also introduce a new version of the EVM, known as EVM 384, which will increase the capacity of the network and enable developers to build more complex DApps and smart contracts.

Timeline of the ETH Shanghai Upgrade

The ETH Shanghai Upgrade is set to launch in April 2023, and it will be implemented in two phases. The first phase, known as the Altair Fork, will introduce the new EVM 384 and improve the network's security and functionality. The second phase, known as the Merge, will transition the network from Proof of Work (PoW) to Proof of Stake (PoS), which will improve scalability and reduce energy consumption. The exact date of the upgrade is yet to be announced, but the Ethereum Foundation has stated that it will occur in April 2023.

What changes will the ETH Shanghai Upgrade bring?

The ETH Shanghai Upgrade will bring several changes to the Ethereum network. The most significant changes include:

• Introduction of EVM 384: The new version of the EVM will increase the capacity of the network and enable developers to build more complex DApps and smart contracts.
• Increased transaction throughput: The upgrade will improve the transaction throughput of the network, allowing more transactions to be processed per second.
• Reduced gas fees: The upgrade will introduce new fee structures that will reduce gas fees for users.
• Improved security: The upgrade will introduce several security improvements, including the implementation of the BLS12-381 curve, which will enhance the security of the network.

How will the ETH Shanghai Upgrade affect Ethereum users?

The ETH Shanghai Upgrade will have a significant impact on Ethereum users. The introduction of the new EVM and increased transaction throughput will enable developers to build more complex DApps and smart contracts, which will improve the user experience. The reduced gas fees will also make the network more accessible to users who were previously priced out of the market. However, users will need to update their software to be compatible with the new upgrade. Failure to do so could result in lost funds or other issues.

Preparing for the ETH Shanghai Upgrade

To prepare for the ETH Shanghai Upgrade, users need to ensure that they are running the latest version of their Ethereum software. They should also back up their private keys and ensure that they have access to their recovery phrase in case of any issues. Users should also be aware of potential scams and phishing attempts, as bad actors often take advantage of major upgrades to steal funds or personal information.

Potential risks and challenges during the ETH Shanghai Upgrade

Like all major upgrades, the ETH Shanghai Upgrade comes with potential risks and challenges. Users may experience issues with their software or face delays in transactions. Bad actors may also take advantage of the upgrade to launch attacks or scams. However, the Ethereum community and developers are working to ensure a smooth transition and minimize any potential risks.

Conclusion: The future of Ethereum after the ETH Shanghai Upgrade

The ETH Shanghai Upgrade is a significant milestone in the evolution of the Ethereum network. It will bring significant improvements to the network, including increased transaction throughput, reduced gas fees, and improved security. The upgrade will also pave the way for the transition to Ethereum 2.0, which is a major upgrade that will introduce a new consensus mechanism and increase scalability and security. The future of Ethereum looks bright, and the Shanghai Upgrade is a step towards a more decentralized, secure, and accessible future.

CTA:

If you are an Ethereum user, make sure to update your software and stay informed about the ETH Shanghai Upgrade. Stay vigilant against scams and phishing attempts, and enjoy the improved functionality and accessibility that the upgrade will bring.

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The world of Non-Fungible Tokens (NFTs) is an ever-evolving landscape that is constantly introducing new projects and opportunities for investment. As the NFT market matures, it is essential for investors to stay ahead of the curve and uncover the most promising upcoming NFTs. In this blog post, we will explore the most promising upcoming NFTs, analyze the NFT market, evaluate the potential of upcoming NFTs, and provide a list of the most promising upcoming NFTs. We’ll also provide some tips for choosing an upcoming NFT and strategies for investing in them.

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Introduction to NFTs

NFTs are digital tokens that represent unique digital assets and are stored on a blockchain. NFTs are unique in that they are not interchangeable and can represent anything from digital art and collectibles to virtual real estate and in-game items. NFTs are becoming increasingly popular as they offer a new way to own and trade digital assets in a secure, transparent, and immutable manner.

The NFT market is still in its early stages, but there is a growing number of projects launching and gaining traction. Investors are looking for the next big thing in the NFT space, and there are plenty of promising upcoming NFTs that could be the next big thing.

What are the Most Promising Upcoming NFTs?

The most promising upcoming NFTs are those that offer unique features and advantages over existing projects. These projects should also have a strong team and a clear roadmap for development and adoption. Additionally, they should offer easy-to-use interfaces and support a wide range of use cases.

In order to identify the most promising upcoming NFTs, we must first analyze the NFT market. By understanding the current trends and technologies, we can identify those projects that are best positioned to capitalize on the growing demand for NFTs.

Analyzing the NFT Market

The NFT market is still in its early stages, but there is a growing number of projects launching and gaining traction. To identify the most promising upcoming NFTs, we must first analyze the current NFT market. We can do this by looking at the types of projects that are launching, the technologies being used, and the current market trends.

The types of projects launching in the NFT space can be divided into two main categories: collectibles and utility tokens. Collectibles are digital assets that have real-world value and can be bought, sold, and traded. Utility tokens are digital assets that offer access to a service or platform.

The technologies being used to create NFTs are also evolving. This includes the use of blockchain technology to store and transfer tokens, as well as the use of smart contracts to facilitate the trading of NFTs. Additionally, the use of decentralized protocols such as IPFS and Ethereum is becoming increasingly popular.

Finally, the current market trends of the NFT space are worth noting. The most notable trend is the increasing demand for NFTs, which has caused a surge in the number of projects launching in the space. Additionally, the market is becoming increasingly competitive, as more projects are launching and attempting to capture market share.

NFT Market Trends

The NFT market is still in its early stages, but there are several trends that are emerging. One of the most notable trends is the increasing demand for NFTs, which is being driven by the growing popularity of digital art, collectibles, and gaming items. Additionally, the use of blockchain technology is becoming increasingly popular, as it allows for the secure and transparent transfer of digital assets.

Furthermore, the use of decentralized protocols such as IPFS and Ethereum is becoming increasingly popular. This allows for the creation of NFTs that are immutable, meaning they can’t be changed or destroyed. Additionally, the use of smart contracts is becoming increasingly popular, as they allow for the automated trading of NFTs.

Finally, the market is becoming increasingly competitive, as more projects are launching and attempting to capture market share. This is driving the development of new and innovative projects, as well as the rise of more established projects.

Evaluating the Potential of Upcoming NFTs

In order to identify the most promising upcoming NFTs, we must first evaluate the potential of each project. This can be done by analyzing the team behind the project, the technology being used, the use cases, and the potential for adoption.

The team behind the project is an important factor to consider when evaluating the potential of an upcoming NFT. A strong team should be comprised of experienced professionals with a track record of success, as well as a clear vision for the project. Additionally, the team should be able to attract the necessary funding and resources to make the project a success.

The technology being used is also important, as it must be secure, efficient, and scalable. Additionally, the use cases of the NFT should be clearly defined and the potential for adoption should be analyzed. This will help to determine if the project is worth investing in.

NFT List of the Most Promising Upcoming NFTs

Now that we’ve analyzed the NFT market and evaluated the potential of upcoming NFTs, we can create a list of the most promising upcoming NFTs. Here are some of the most promising upcoming NFTs:

• Axie Infinity: Axie Infinity is a collectible gaming platform that allows players to collect, battle, and trade digital creatures. It is powered by Ethereum and uses non-fungible tokens (NFTs) to represent each creature.
• Decentraland: Decentraland is a virtual world powered by Ethereum that allows users to create, experience, and monetize digital assets. It is powered by non-fungible tokens (NFTs) that represent virtual real estate and in-game items.
• Enjin: Enjin is a gaming platform that allows users to create, manage, and trade digital assets. It is powered by Ethereum and uses non-fungible tokens (NFTs) to represent in-game items.
• Immutable X: Immutable X is a decentralized platform that allows users to securely store, trade, and manage digital assets. It is powered by Ethereum and uses non-fungible tokens (NFTs) to represent digital assets.
• OpenSea: OpenSea is a marketplace for buying, selling, and trading digital assets. It is powered by Ethereum and uses non-fungible tokens (NFTs) to represent digital assets.

Factors to Consider When Choosing an Upcoming NFT

When choosing an upcoming NFT, there are several factors to consider. The most important factor is the team behind the project, as a strong team should be comprised of experienced professionals with a track record of success. Additionally, the technology should be secure, efficient, and scalable, and the use cases should be clearly defined. Finally, the potential for adoption should be analyzed, as this will determine if the project is worth investing in.

Where to Buy Upcoming NFTs

Once you’ve identified the most promising upcoming NFTs, the next step is to purchase them. The most common way to buy upcoming NFTs is through decentralized exchanges such as Uniswap and Kyber Network. These exchanges allow users to purchase NFTs with Ethereum and other cryptocurrencies. Additionally, some projects may offer their own token sale or pre-sale.

Strategies for Investing in Upcoming NFTs

When investing in upcoming NFTs, it’s important to have a well-thought-out strategy. The most important factor is to diversify your portfolio, as this will help to minimize risk and maximize returns. Additionally, it’s important to do your research and evaluate the team, technology, use cases, and potential for adoption. Finally, it’s important to be patient and only invest what you can afford to lose.

Conclusion

The world of Non-Fungible Tokens (NFTs) is an ever-evolving landscape that is constantly introducing new projects and opportunities for investment. To stay ahead of the curve, it is essential for investors to identify the most promising upcoming NFTs. In this blog post, we’ve explored the most promising upcoming NFTs, analyzed the NFT market, evaluated the potential of upcoming NFTs, and provided a list of the most promising upcoming NFTs. We’ve also provided some tips for choosing an upcoming NFT and strategies for investing in them. By following these tips, investors can ensure that they are making informed decisions and investing in the best NFTs.

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Non-fungible token (NFT) royalties are an important part of the blockchain ecosystem. Many people don’t know what NFTs are or how they work, but that doesn’t change the fact that these tokens are a major force in the industry. In this article, we’ll look at NFTs, non-fungible token royalty systems, and why you should care about them.

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How do NFT royalties work?

NFTs are digital assets that are unique and owned by individuals. The tokens can be used as trading cards, digital art, digital collectibles, and more. NFTs can be traded and exchanged on the blockchain, and they can have unique attributes attached to them. These attributes typically relate to ownership. For example, an artist can create a digital painting and then use a royalty to tie the ownership of the painting to a blockchain token. If someone then buys the digital painting, they also gain the right to own the token. This is how NFT royalties work because the token acts as proof of ownership for that specific painting. You can think of it as owning a share of the painting.

Why are NFT royalties important?

NFT royalties are important because they add value to blockchain ecosystems. Artists and creators can use them to tie their work to blockchain tokens. These tokens can then be traded and used in the marketplace. Not only does this add value to the blockchain ecosystem, but it also helps artists and creators get paid for their work. People can buy tokens that represent their ownership in works of art. This means that artists can get paid when their work is sold. It also means that people get to enjoy art and other digital goods while also receiving tokenized proof of ownership.

How will NFT royalty systems operate in the future?

Because NFTs are digital assets, they can be programmed with certain functions. This means that they can have unique attributes and functions that the owner can use and control. For example, artists can program their digital art tokens to self-destruct once they are sold. This would prevent the token from being sold more than once. Other royalty systems could be programmed to allow for partial ownership. This would be great for allowing investors to participate in an artist’s work without having full ownership of the art itself. There are many ways that NFT royalty systems could operate in the future. They could work to improve the efficiency of the art industry, and they could also be used to protect artists’ rights.

Why You Should Care About NFT Royalties

As we’ve seen, NFT royalties are an important part of the blockchain ecosystem. They can help artists and creators get paid for their work, and they can also be used to protect their rights. If you like art and want to support artists, then you should care about NFT royalties. It’s not just artists that can benefit from these types of tokens, though. Collectors can also enjoy owning unique tokens that represent their ownership to pieces of digital art. That’s why everyone should care about NFT royalties. If you like art at all, then you’ll like these tokens.

Final Words: What is the future of NFT Royalties?

The future of NFT royalties is looking bright. This is because the tokens can be used for more than just art. Artists can create digital goods like paintings, music, books, and other creative works and tie them to blockchain tokens. This will allow them to get paid for their work and to protect their rights. NFTs can also be used for more than just ownership. They can also be used for voting and for governance. These are just a few examples of what NFTs can do in the future. There are many other uses for these tokens, and we can’t wait to see what happens next.

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Many parents support the idea of their offspring becoming athletes and sports stars. When asking a child about their career aspirations, becoming a sports star would top the list. Though reaching the pinnacle is difficult, it is one of the best careers in the world. The attraction to sports is the players' financial gain and adulation. Anyone who reaches the top of any sport will become financially free. Furthermore, players from the most popular sports are celebrities on par with actors and famous businesspeople.

The vast sums involved in sports are due to the massive interest and demand from the general public. People love sports and are willing to pay enormous money to watch sporting events. Due to the fascination, businesses not involved with sports pay massive advertising fees to become associated with the sport. There are many sports, from golf, martial arts, cycling, and racket sports to track and field events. It is an endless list.

However, some sports have better earning potential than others. Sports such as soccer, football, basketball, golf, and tennis are some lucrative sporting activities. Anyone who reaches the pinnacle in these activities will easily earn millions of dollars. There are few sports stars whose fortunes run into billions. Earnings are not limited to the salary received from the clubs. Top sports stars can accumulate wealth through endorsements, sponsorship deals, and payments from their clubs. The massive earnings are due to the player's skill set combined with their popularity. A famous, well-loved star will command the highest salaries.
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Investment Options For Sport Stars

Like all wealthy people, sports stars invest their income; they use their finance to buy more wealth. It makes zero sense for money to sit idle in bank accounts. Investments take all kinds of forms. From starting their own business, investing in other companies to involvement in financial markets are some of the popular forms of investments. Cryptocurrencies and their associated technologies have become mainstream in the last few years. The portfolio of many wealthy people, including sports stars, usually has some investment in this arena.
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Investing In NFTs

Non Fungible Tokens (NFTs) are one way to invest in cryptocurrency technologies. This field has attracted many sports stars. Some famous sports stars who hold NFTs include Stephen Curry, Serena Williams, Shaquille O'Neal, and Neymar Jr. These are just a few of the hundreds of sports stars who have become involved with NFTs.

NFTs, with their cartoon art representation, appear fun and appeal to the younger generation. Given that the sports star demographic is of the lower age bracket, it makes perfect sense for these people to invest in NFTs. Owning NFTs can help market sports stars and their brands. Becoming associated with a popular NFT collection will increase the media coverage received. For example, if an athlete buys a blue-chip NFT such as the Board Ape Yacht Club, the news will be seen on all major outlets and social media channels. This is a win-win situation for both the project and the athlete.

The more an athlete is featured in the popular media, the more it enhances their prominence. It allows them to demand more outstanding salaries and endorsements. The involvement of top-tier athletes will help drive up the price of the NFT, a good situation for the NFT project. Additionally, NFTs are an investment opportunity. Though buying NFTs is highly speculative, there is an excellent chance that blue-chip projects will see a price rise. Top-tier NFT projects such as BAYC and Azuki continue to see a price increase.

NFTs can help well-known athletes connect with their fans. The trend is for athletes to buy NFTs from significant projects to date. There will be a more significant number of athletes who will release their own NFT collections. It offers the athlete a way to bond with fans in new and innovative ways.

Holders gain the opportunity to meet the star or receive merchandise. This helps to solidify the relationship; it will lead the fans to become even more interested in the athlete's brand and helps to foster a community of fans in ways never seen before. There is also a financial benefit for the fans. Owning the NFTs of a sports star, the fan can sell these assets. Previously the relationship has been a one-way street; the athlete benefited from fans without much reciprocity.

If the perceived value of the star is on the rise, the price of the NFT will increase. It offers the opportunity for the holder to sell their NFTs for a profit.  NFTs open up all manner of possibilities in the world of sports. Sporting clubs can sell NFTs, which will offer their fans the opportunity to gain merchandise, special ticket allocation, or vote on club governance. NFTs are relatively novel, but there is no doubt that this is a field that opens up opportunities never seen before in the world of sports.

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People who've followed NFTs for some time are aware of these essential considerations when buying NFTs.  Many new members of the NFT community overlook this critical aspect.

Many newbies buy NFTs without much consideration. The usual pattern is for people to hear about NFTs, find the NFT community on Social Media platforms such as Twitter, and become part of the Discord servers of various projects.

A busy server and quality artwork ensure the newbie becomes involved in the community. It leads to the person minting the NFT on launch.

Following the mint, it's common to see the price of the NFT fall in value. After a few months, the founders neglect the project, and the holders find themselves with an NFT with little value.

Since this neglect has been the standard pattern seen throughout 2021, most NFTs on the secondary market are worth less than the price paid on launch.

There have been numerous cash grabs. The founders make six figures from the NFT project, but the investors have a losing asset.

The success stories in the NFT space have received praise. For example, the Bored Ape Yacht Club (BAYC) is admired throughout the NFT community, and any NFT stories in the mainstream media feature the BAYC regularly.

For every successful project, there are far more failures.

Mistakes Made By More Experienced NFT Buyers.

After spending time in the NFT community, people become aware of the requirements of a good project. They commonly look for the following characteristics:

Doxxed Team. The team mustn't be anonymous. Anonymous groups are more prone to carry out rug pulls (where the founders close the project after launch). Investors have no idea of the identity of the founders. As a result, the groups can quickly abandon the project and scam the investors.

Great Community. There must be a sizable community behind the NFT project. People look at Social Media and Discord profiles to gauge the size of the community. Without a community, there is no one to buy the NFTs.

Good Artwork. Essential to ensure the artwork is high quality and in line with the current trends. For example, there is a great deal of admiration for the artwork by Doodles and Invisible Friends NFT projects.

Utilities. Projects need more than artwork to become a success. The only exception is if the NFTs are from an established artist such as Beeple, Banksy, or another artist with a big following in the traditional art world.

Projects without a well-established artist need to provide utilities in the form of Play To Earn games, events, staking possibilities, and more.

People seeking these factors in projects are better positioned than newbies. But many projects satisfying these conditions still fail to succeed, especially in this current climate where the NFT space is experiencing a bear market.

The Importance Of The Founder

The most critical factor in a project is the founder. Many investors entertain projects because the founder is well known. They could be a celebrity or an industry leader.

Unfortunately, many of these projects flounder in the long term. Shortly after mint, there is a pump in price. But a few months after the launch, the value has become less than the mint price.

The founders are not highly active in the project; they make no effort to immerse themselves in the community.

It leads people to conclude (probably correctly) the founders are not interested in the project. The community loses faith, sells their NFTs, and projects end up in the backwaters of the secondary market.

A successful project is one where the founder engages with the community. They should be active before and after the launch. Making themselves involved in the conversations on Discord and Ask Me Anything (AMA) or Twitter Space shows a genuine interest in the project.

An example of a successful project is VeeFriends by Gary Vee. The founder is always available. He is constantly talking about his projects on Social Media and does not go missing in action.

Wrapping Up

The most important consideration for any NFT collection is the founder, motives, and project vision.

Unfortunately, the NFT world has seen many cash grabs. The devs and the founders fail to take much interest following the launch.

The reality is that unless the NFT collection is by a genuine, highly established artist, the project starts after the launch.

The easy part is the stage up to the launch; it's the segment where the founders are raising capital to realize a vision. Making their promises become a reality involves hard work.

To date, in the NFT space, many founders are fond of the idea of raising capital. But dislike the effort to complete the project and make the utilities and the roadmap a reality.

Many experienced investors in the NFT community understand the situation and no longer mint NFTs easily. This is a contrasting situation to 2021, where people readily bought NFTs.

Perhaps this explains the current bear trend in the NFT world; sales volumes are significantly lower than the record-breaking numbers a few months ago.

For the investor, the best approach is to take a great deal of interest in the founder. Presenting evidence of interest by the founder ensures confidence in the community.

The involvement of a famous name does not guarantee long-term success.

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Scams exist in many areas of life, defined as fraudulently obtaining money or goods from unsuspecting victims. 

The Internet is hugely beneficial for society and helps improve many people's lives. But it has led to criminals using it to defraud people—from phishing and fake shopping websites to dating scams. 

Cryptocurrencies use the Internet and are not exempt from scams. The anonymous nature of cryptocurrencies has made things easier for fraudsters. 

NFTs are an extension of cryptocurrencies and are an arena with frauds targeting newbies and the uninformed. Since this is a relatively new technology, most people have likely been victims of one form of scam or another.

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What are some of the common NFT scams?

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Rug Pulls

After a project launch, the founders exit the project with investors' funds. The founders close the assets associated with the project, such as the Discord server and Twitter account, and leave the scene. With the founders no longer involved and little trace of the project, the price of the NFTs decreases until it becomes worthless. The investors possess nothing more than NFT JPG images on the blockchain. 

The NFT space has been rife with these scams throughout 2021. As people become aware, these deceptions are becoming less common.

Anonymous founders carry out rug pulls; people have no idea of the real identity. Given the anonymity and lack of traceability with crypto wallets, it's a straightforward scam to perpetuate.

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Cash Grabs 

This is rife in the NFT space. The founders of the project promise various developments for the project. 

After the launch, they fail to implement these promises. Over time, the value of the NFTs decreases, and the investors are left holding the bag. 

Nearly every NFT investor has been a victim of such activities. Such schemes are also known as a slow rug; the founders leave the project slowly. 

These schemes are difficult to classify as a fraud; the founders are in a position to kick their promises into the long grass. And many often come up with all manner of excuses why developments fail to progress. 

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Pump And Dump 

This is where an individual or a group of people team up to buy large quantities of the cheapest NFTs in the collection (buying the floor price). 

They drive up the collection price, also known as "sweeping the floor" or "wash trading." After a significant price increase, the NFTs are sold for a profit, and the culprits exit the market. The value of the NFTs decreases, people are left with NFTs worth less than the price paid. 

The project founders are known to engage in such practices to drive up the price of their collection.

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Project Impersonation

Fraudsters try to mimic real projects by creating websites and social media profiles with a similar appearance to the actual project. 

They aim to lure unsuspecting victims to a website and mint fake NFTs. The victim connects their wallet to mint an NFT, which turns out to be an empty file. 

Victims are targeted through direct messages or posting links in the comment section of Social Media platforms.

The problem has become rampant: fraudsters routinely hijack the real Discord server of a project, disabling the power of admins and moderators and placing links to direct members to a fake minting website. 

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Customer Support Scams

This is a problem commonly seen on Discord and Telegram. Scammers contact through direct messages offering to help people mint NFTs or provide bonus airdrops.

As a customer service representative, the scammer tries to obtain wallet details such as passwords and the seed phrase. Using the information, fraudsters drain the funds from the wallet.

The problem is that NFT projects warn members not to engage in direct message conversations. Official members of staff have ceased contact with members directly through direct messages. 

Experienced people will not fall victim to such scams; newbies are the intended targets. 

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Intellectual Property Theft And Fake Collections

There are projects known to take the artwork from talented artists and use it for their collection. Without agreements in place, this is a form of theft.

Projects using artwork from an artist without permission are a theme in the NFT community. 

On discovery, the reputation falls, and the value of the NFTs decline in price; it becomes a loss-making investment.

Some individuals take artwork from upcoming projects, load it to marketplaces such as Open Sea and aim to impersonate the actual project.

Buyers of these NFTs become victims of a scam.

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Conclusion

Scams are common because the NFT market is new, with many new people entering the space. It allows fraudsters to exploit inexperience and vulnerabilities.

The best approach for a newbie is spending time in the NFT community, networking with others on platforms such as Discord, and becoming fully aware of the technology before major investment sprees.

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Bored Ape Yacht Club (BAYC) is the most iconic NFT collection; it's set the standard for others to follow. The nearest rival CryptoPunks, based on nothing more than artwork, was taken over by BAYC's creators, Yuga Labs, in March 2022. This acquisition has created the biggest juggernaut in the NFT world; no other project comes close in size.

BAYC 's success depends on its ability to evolve, pivot, and provide value to its holders. While many projects offer artwork and no more, BAYC has significantly contributed to the NFT world. They airdropped NFTs from other projects (such as Bored Ape Mutant Club and Bored Ape Kennel Club) to BAYC NFT owners, provided in-person events, and developed online games for its members. Yuga Labs allows the holders to use the NFT they own to create and sell merchandise.

 What is ApeCoin?

As part of this ability to grow, in March, Yuga Labs collaborated with the collective named ApeCoin DAO to drop ApeCoin ($APE) token.

ApeCoin acts as a digital currency in the same way as many other cryptocurrencies. People will be able to spend ApeCoins on upcoming products and services BAYC will offer, including the Play To Earn game launching in 2022. The hope is that ApeCoin may evolve beyond the BAYC ecosystem in the future.

There is a difference between Apecoin and cryptocurrencies such as Bitcoin, Ethereum, and Solana. Bitcoin, Ethereum, and Solana are native coins derived from their perspective blockchain. Apecoin does not have its blockchain and resides on the Ethereum mainnet; it's considered a token rather than a coin.

ApeCoins are not too dissimilar to Axie Infinity Shards (AXS), the native governance token of the Axie Infinity network. Axie Infinity players can buy, sell and trade using Axie Infinity Shards.

Distribution

A total of 1 billion ApeCoins were available; the allocation was as follows:

15% to the holders of Bored Ape Yacht Club and Bored Ape Mutant Club holders,

15% to Yuga Labs,

14% to the partners that helped launch the tokens,

8% to Yuga Labs founders,

1% to charitable events,

47% to ApeCoin DAO
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ApeCoin DAO

ApeCoin DAO is part of the Ape Foundation, the governance behind the token. They have the power to manage the everyday running, project management, and bookkeeping of the token system. Holders of the ApeCoins and the DAO can dictate the ecosystem's future, thus making ApeCoin a decentralized system.

 ApeCoin DAO consists of leaders from the Social Media, gaming, and crypto space. These people include Alexis Ohanian (from Reddit), Amy Wu (from FTX), Dean Steinbeck (from Horizen Labs), Maaria Bajwa (from Sound Ventures), and Yat Siu (from Animoca Brands).

The BAYC project and Yuga Labs are separate entities from the ApeCoin DAO. If BAYC and Yuga Labs were closely connected, the project would come under the scrutiny of The Securities and Exchange Council of the United States. The Securities and Exchange Council is the government organization responsible for regulating Securities and protecting investors. To date, the organization has not focussed on NFT projects.
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Launch 

On launch, the price of ApeCoins started at almost $40 per token. During the day, the token fell to around $6 as people who received free tokens sold their share. A few days into the launch, the price of the ApeCoin sits at around $11. The vast market cap size has meant that ApeCoin is in the top 50 of all cryptocurrencies.

The token was available on all major exchanges such as Coinbase, Binance, KuCoin, and FTX. It's unusual for new tokens to be widely known, but the popularity of the BAYC meant exchanges readily accepted ApeCoin onto their platform.

Original holders of BAYC NFTs were given 10,094 tokens for each NFT they held. This translates to nearly $400k at the price height and $60k near the bottom.

ApeCoins show that the Bored Ape Yacht Club project continually provides the holders with utilities. These utilities translate into social and financial gain. Unfortunately, the NFT space is riddled with scams and rug pulls. But Yuga Labs have set the blueprint for what makes a fantastic NFT project, an aspiration for other projects to follow.

No one can predict the price movement of digital currencies; there are no guarantees of price increases. The ecosystem created by Yuga Labs is continually expanding rapidly; it's probably a good bet to suggest ApeCoins are potentially a significant investment.

As always, do your own research before investing.

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Cryptocurrencies have been around for a long time: Bitcoin, the first cryptocurrency project launched in 2009. There are currently over 16,000 cryptocurrencies currently in circulation.

With each year, the awareness of cryptocurrencies has increased. But digital currencies are still an unknown quantity for the vast majority; most people are not fully aware of their full function.

The Similarities Between Crypto And NFT Projects

NFTs hit the headlines in 2021; it was the word of the year and has become well known as some popular cryptocurrencies such as Bitcoin and Ethereum.

A cryptocurrency project has two components, the blockchain and a native coin associated with the blockchain. Blockchain is the technology, and the native coin is the digital currency.

NFTs are different from cryptocurrency, but NFT and cryptocurrency projects have many similarities. They both have a team or company working on developing and completing the project's aims.

Bitcoin is a blockchain, and the associated coins serve as a digital currency. Bitcoin as a blockchain is old technology and serves no purpose other than registering the transactions of its digital coins.

There are other crypto projects with more features than Bitcoin. For example, blockchains such as Ethereum, Solana, and Polkadot allow advanced information storage facilities on their blockchain.

XRP is the native token associated with Ripple; it plans to act as a money transfer utility at meager prices. Ripple and its native coin XRP, seek to compete with the fiat currency.

Tether is the native token linked with the Tether network; it's a stable cryptocurrency. While other cryptos face high volatility and swings in price, Tether is secure as it's pegged to the US dollar. It acts as a reliable medium of exchange and a way to store value.

All cryptocurrency projects strive to provide a service. As the oldest cryptocurrency, Bitcoin has the clout to act as nothing more than a digital currency. Other cryptocurrency projects aim to provide some form of value in addition to serving as an electronic currency.

This is similar to the utility feature of NFTs. NFT utilities can consist of events for the holders, play-to-earn games to ownership of virtual land. Owners gain other benefits in addition to the great-looking artwork stored on the blockchain.

A crypto project has a white paper to describe its aims and the achievements they seek to realize. All NFT projects have a white paper and roadmaps that state the project's ambitions.

All crypto and NFT projects try to build a community at the start; they do this through giveaways. NFT projects will try to provide free NFTs, while crypto projects offer free currency airdrops.

Building a community on Discord and using Twitter as the leading Social Media communication channel is a shared feature.

The blockchain Polkadot and the NFT project World Of Women have become successful projects. They do not need to make a significant effort to grow; the expansion takes place organically. Many external sources will discuss and market these projects, and people will readily engage.

The Differences And How NFTs Benefit The Crypto Ecosystem

NFTs use blockchains to register and record ownership details, and a crypto project helps facilitate the requirement. Crypto projects have enabled NFTs to become successful entities in their own right; without blockchains, there cannot be NFTs.

The success of NFTs has spawned a new industry. Entrepreneurs can pursue new lines of business, further employment opportunities, and an additional investing stream for investors.

NFTs have helped many crypto projects. The likes of Solana, Polygon, and Tezos have seen people using their blockchain in increasing numbers, which has led to a positive impact on these projects. The value of Solana coins was less than a dollar in early 2020; its price rose astronomically, reaching as much as $250 in 2021.

As well as giving the blockchain real-world use, NFTs have encouraged a new range of people to enter the crypto space. The cool-looking artwork attracted people who would not have entertained blockchain technology previously. It has led to people examining the broader crypto ecosystem and other projects in the crypto space. The user base of cryptos has increased.

Conclusion

Until recently, most crypto projects have been speculative with no real-world use. People could exchange cryptos as payment between themselves, but there is no central payment system like the traditional banking system.

NFTs projects, offering only artwork, have limited physical world use. But utilities such as play-to-earn games, casinos, and events change the landscape.

NFTs allow crypto-based blockchains to flourish and provide a beneficial effect. There is little doubt that both crypto and NFTs will see a greater prevalence and use in society with time.

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The Internet provided entrepreneurs the opportunity to start many businesses. At the start of the century, the number of companies that utilized Internet technology was low. Two decades later, nearly every business uses the Internet in some form. A vast number use the Internet as the cornerstone to sell goods and services.

NFTs use blockchain technology with the Internet as their foundation. The inception of NFTs has provided entrepreneurs with interest in this technology to start up new businesses in this space.

A popular business to operate in the NFT arena is to start an NFT project. The company or the group of people create NFTs and market the project to investors. The low barrier to entry has meant big budgets are not necessarily required to make a start.

As time passes, investors have become picky with projects, companies with bigger budgets are now more likely to succeed. They have the means to provide better marketing; companies with significant capital can offer innovative and higher quality NFTs and associated utilities.

 Many artists, brands, and businesses are unaware of the NFT world. One business idea is for companies to complete NFT projects on behalf of others. This opens the doors for NFT companies to offer their expertise.

NFTs For Artists And Photographers

NFTs as art is an entity on a low trajectory; there are many art-based projects, and the market is saturated. Much of the artwork looks similar, it's cartoon-based and created by unknown illustrators and digital artists.

Many projects seek freelancers for low sums of money from the developing countries through freelancing marketplaces such as Fiverr and Upwork. NFTs have been in circulation for over a year, allowing only a small market share for each PFP NFT.

However, there is room for established and talented artists, especially creators with a solid fan base. Their work in the form of NFTs will entice traditional art collectors to enter the space. NFT fans are likely to see these NFTs as a good investment because the work is from an established artist.

NFT companies could contact established artists and offer their services. The NFT company will carry out the process from inception to launch. There is little involvement for the artist other than providing the artwork and participating in marketing activities such as making appearances at events to showcase the project.

Photography is similar to art; companies can help established photographers sell their work as NFTs. NFT open up another route for photographers in addition to media outlets and marketplaces such as Shutterstock and iStock Photo.

NFTs For Musicians

Another avenue for NFT companies is to align with musicians. NFT has provided a way for musicians to store their music as digital assets on the blockchain.

Fans will buy the NFTs to access the music; there is no need to use expensive record companies for marketing their product. It becomes possible for musicians to use NFTs to ensure they keep a high percentage of the sales revenue.

NFT companies can help musicians to release music through NFTs and the blockchain. As it's a simple process, there is an excellent profit margin for the NFT enterprise.

Musicians such as Eminem have released NFTs incorporating music, and other musicians are likely to capitalize on NFTs going forward in time.

NFTs For Brands And Companies

 NFTs open up opportunities for brands to sell NFTs of items associated with their company. For example, a fashion company can issue handbags as NFTs to provide another revenue stream. They can go further by showcasing their goods in the evolving Metaverse and pursuing additional opportunities.

Brands can even offer free NFTs to their people as a marketing opportunity. For example, Papa Johns, the pizza chain, recently issued 19,840 NFTs for free through the Tezos blockchain. This received a great deal of publicity for the company, which will drive up sales of its food products.

NFTs companies can contact brands to help them launch NFTs. These offerings are not limited to big corporations such as Nike or Gucci. Small to medium-sized companies can capitalize on the popularity of NFTs and make NFTs work for them.

 NFT is a technology that many companies do not understand well. NFT enterprises could educate brands on the benefits and acquire business to launch NFTs for these organizations.

Wrapping Up

Technology has opened up all manner of opportunities, and NFTs are no exception. Between 2010 and 2015, Social Media became popular with Twitter, Instagram, Pinterest, etc. Many companies began to use Social Media for their businesses, and companies who offered expertise in this sector capitalized. NFTs are at a similar stage; there is the possibility for individuals and companies to help musicians, brands, and artists make use of NFTs for mutual advantage.

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NFTs are unique, no other version exists, and verification of digital asset ownership is possible by storing data on the blockchain. To date, NFTs have been dominated by art and online gaming, with music also having an impact. Art acted as an excellent introduction to NFTs for the world. In the early days, there were no utilities associated with the NFTs. This was probably a good thing. The introduction of utilities such as staking, decentralized autonomous organization (DAO), and yield farming in one large chunk is too much to digest for anyone but ardent crypto techies. 

As investors become comfortable with the premise of blockchain and NFTs, real-life utilities are becoming realized. The Scotch whisky retailer, "The Whisky Barrel," is one of the early adopters to utilize NFTs away from art, gaming, and music. 

With investing, there are two classes: standard assets and alternative investments. Traditional assets involve stocks, bonds, and cash, while alternative investments feature collectibles such as art, antiques, and whisky. 

Investing in whisky has been on the rise since the turn of the century. Creating high-quality mature whisky is a highly capital-intensive process for the distiller. The maturation age for fine whisky is between 12 to 50 years. To offset costs, distilleries sell casks at a low price at the start of the distilling process. The distiller handles the storage and distilling process, while brokers deal with the sales and marketing. Investing in whisky can return as much as 54%, with an average return of 10% per year over five years. Many people buy whisky for investment purposes rather than enjoyment.

Such investment involves the investor, the broker, and the distiller. The broker handles the sales and marketing and takes their fee from the investment returns. 

NFT and blockchain technology allow the distiller to deal directly with the customer and alleviate the need to use brokers. Distillers can sell their aged bottles and casks as NFTs on the marketplaces, and customers can buy direct. This is similar to musicians who can directly market their work as NFTs to the customer without record companies. 

"The Whisky Barrel" is focused on the authentication aspect of their products. The owner of the NFT is certified to own the actual product; there is no possibility of counterfeit or fake spin-offs becoming part of the equation. It's easier for the owner to sell their commodity as the potential buyers will have fewer concerns about the authenticity of the purchase.

"The Whisky Barrel" will use the Solana blockchain for their NFTs as this is an eco-friendly platform with low transaction costs. 

This moment is not the first time NFTs have represented whisky. "UniCask Co Ltd" became the first minter of whisky NFTs. In December 2021, the 1991 vintage cask of Single Malt Scotch Whisky Springbank was divided into 100 portions and sold as NFTs. The bottling of the whisky takes place in 2041. Until then, the holders can own and trade this rare whisky as an NFT from anywhere in the world. With each year the value of the whisky increases, we will see the price of the NFTs will rise. 

Since then, "UniCask Co Ltd" has created NFTs for another whisky product. "UniCask Co Ltd" is in the process of constructing online games to act as utilities in the same manner as traditional NFTs. 

The great thing about NFTs is the authentication aspect, only one version of the NFT can exist and eliminate the possibility of fraud or other malpractices. 

There has been rhetoric about NFTs authenticating expensive commodities such as Rolex watches or Chanel handbags. These are items that can increase in value with time. But NFTs do not eliminate the possibility of counterfeit products in such a scenario. The owner of the NFT, with the item in their possession, can always present a fake product. With time, blockchain and NFTs will solve such issues with the insertion of technology within the collectible pieces. 

There are some exciting prospects for NFTs in the future. As 2022 rolls on, blockchain and NFTs see their technology utilized away from art and online gaming. Sandbox and Decentraland sell virtual land. In time, NFTs could act as a contract for buying and selling real estate in the physical world.