NFTs: The Latest Hype in The Virtual World

NFTs, or non-fungible tokens, are the latest trend in the world of  cryptocurrencies. Recently, reports of hallucinatory prices being paid for NFTs have begun to circulate. But what is it exactly? We found out for you.

An NFT is actually no more or no less than a non-replicable digital certificate that proves ownership of an intangible object. It is an indivisible virtual currency that is linked to a virtual good. The digital creation remains available to the general public, but by purchasing an NFT you can show to the outside world that you are the owner and you get an authenticated replica of a digital medium that is unique. You can compare it to a certificate of authenticity.

In other words, it is often a matter of prestige, which immediately explains why the super-rich are willing to pay big money to be the exclusive owners of a copy of a digital work. NFTs have quickly become real collector’s items.

The value is not in the item itself, but in the authenticity and uniqueness it represents.

A few examples:

  • Earlier this year, $2.5 million was offered at an auction for Twitter founder Jack Dorsey’s first tweet from 2006.
  • Also the internet sensation of 10 years ago, Nyan Cat, a GIF animation of a flying cat was sold for a hallucinatory sum of almost half a million euros.
  • The record sale is still in the name of the digital artwork “Everydays: the First 5000 days”, a composition of the first works of artist Mike ‘Beeple’ Winkelmann for a whopping $69.3 million.6
  • The use of NFTs is also gradually gaining ground closer to home. This spring, Club Brugge will launch ‘Club Moments’, a marketplace for NFTs where the football club offers exceptional items or even goals as non-fungible tokens.

Pros

NFTs have proved to be the answer to the problem that certain creations on the internet were just shared and copied, making it very difficult for the creator to prove ownership. As a result, creators of digital creations were often not rewarded for their work. NFTs were therefore developed as a way of ensuring that the original artists could make money from their works.

Because NFTs use blockchain technology, it is unquestionably clear who owns the certificate, and especially who does not. Only the buyer of a non-fungible token will have a digital key to claim ownership and the ability to trade the certificate. This is because a cryptographic hash function has been incorporated into the NFT. In this way, the blockchain can check the code and determine who is the exclusive owner of the NFT.

In this manner, NFTs can also be used in the fight against counterfeit products. Blockchain is kind of a digital journal where transactions can be stored without being deleted or modified. Each new block that is stored will always contain information about the previous block, creating a transaction chain of data.

In other words, Blockchain acts as a kind of digital notary without the need for a third central party. In this way, one can generate (digital) income without intermediaries.

Another big advantage is that one can create NFTs for anything you want to give a value to. Think of digital images, memes, GIFs, music, tweets, the list is endless. This also offers many possibilities for the future. Since NFTs are unique, they could, for example, be used to store birth certificates or identity cards. But also ticket sales of concerts or festivals could soon take place via NFT. Each ticket is unique and could in principle be sold as NFT. For example, earlier this year rock band Kings of Leon auctioned a number of golden tickets via NFT which gave you access to VIP treatment at a live concert.

Cons

Given the fact that NFTs use blockchain technology, this requires a huge amount of computing power from computers. This processing power consumes a huge amount of electricity and energy, which raises the question of whether it is ecologically justified to assign values to digital creations using blockchain.

NFTs, like other virtual currencies such as Bitcoin, are not yet universally regulated by a government in the way that traditional investment products are. Given the volatile market in which crypto currencies circulate, investing in NFTs always involves risk. Just as a hype has a huge peak, it is also characteristic of a fad that the interest of the public declines over time.

Nevertheless, today there are many voices saying that crypto and blockchain in general could be the future. For this reason, we are keeping a close eye on the evolution of these products.

Ownership

An NFT makes you the owner of a copy of a digital artwork, not the original. It is merely a digital receipt that you own a signed version of something, not the object to which it relates.

It is important to always keep in mind that the creator of the digital work that is tokenised in NFT can continue to make copies of the work and can sell these ‘unique’ versions. So more unique versions can be made from the same source. This will cause the value of the NFT to be diluted. The rarer an NFT is, the more value it has. So just because you tokenise a work with an NFT, does not mean you are also the legal owner of the underlying work. You will only be the holder of the digital certificate that you have attached to it.

Copyright

The question of whether an NFT is an intellectual property right must be answered negatively. When purchasing an NFT, only the economic ownership will be transferred and not the copyright of the work. However, under certain conditions, a non-fungible token will have a copyright component. For example, the buyer of an NFT can obtain a licence to use the work or you can agree that the original creator will receive a royalty each time the NFT is sold on.

Furthermore, it is technically possible to complement the sale of NFT’s with a copyright, but this will have to be explicitly programmed in a smart contract. That is a computer program where the parties’ agreements are recorded and from the moment certain conditions are met, the computer program will automatically execute the agreement and transfer the copyright.

An NFT is therefore no more or no less than a digital certificate in the blockchain that proves the ownership of a copy of a digital artwork. The creator or buyer of an NFT will not become the owner of the digital work himself, but will only become the owner of the unique certificate that is linked to the digital work.

In a nutshell, the rise of NFTs offers many future perspectives, but also leaves many questions unanswered. Is it ecologically justified to attach values to digital creations via blockchain that require an enormous amount of electricity and energy? What about a legal framework for NFT’s? After all, it is likely that non-fungibles tokens will become a normality in our society within a few years. According to some business leaders and experts, it is the new industrial revolution of tomorrow.

To be continued…

If you have any questions after reading this article, please do not hesitate to contact us via email or call us on 03 216 70 70.

ICOA Announces Launch of NFT Program

McapMediaWire – ICOA Inc. a publicly traded Nevada company and a national provider of wireless and wired broadband Internet networks in high-traffic public locations, currently entering the DeFi, Blockchain, Crypto and NFT space through multiple acquisitions, announces the launch of an initiative with the Transforming Education Donor Fund and Scholas Occurrentes which will work to support their mission of fostering education across the globe.

ICOA has signed an agreement to tokenise and distribute two paintings from Scholas Occurrentes, with the participation of His Holiness Pope Francis and renowned artists Mr. Brainwash, Domingo Zapata, and Martha Saenz as non-fungible tokens on the blockchain.

Scholas Occurrentes, an international organisation present in 190 countries on five continents through its extensive educational network was created by His Holiness, Pope Francis. Its mission is to create the Culture of Encounter; by bringing young people together from diverse backgrounds in an educational experience that generates understanding across the globe.

With the growing popularity of non-fungible tokens, ICOA will be looking to the blockchain to bring the NFT project to fruition through its most recent acquisition, iBG, whose vision is to enable users to navigate the complexities often associated with Decentralised Finance and blockchain with ease.

iBG brings its expertise in blockchain and the iBG token will enable the distribution of the NFTs that will be created from this partnership with Scholas.

“Everyone at ICOA is honored to partner with such an important platform and organisation such as the Transforming Education Donor Fund and the Scholas Occurentes to help them raise money to further their mission of promoting education around the world. This partnership will kickstart the launch of our NFT platform, and we are excited to enter this booming field as we see great value in building this expertise within our company” said Hadria Wong, CEO of ICOA Inc.

This collaboration between ICOA, Transforming Education Donor Fund and Scholas Occurentes is a way to make art more accessible to a global audience through digital technologies.

We invite shareholders and investors to follow our social media handle on Twitter for daily updates on the latest developments.

Twitter: https://twitter.com/icoa_inc

About ICOA INC.

ICOA Inc. is a national provider of wireless and wired broadband Internet networks in high-traffic public locations. ICOA provides design, installation, operation, maintenance, and management of WI-FI hot-spot and hot-zone Internet access. ICOA owns or operates broadband access installations in high-traffic locations across 40 states, located in airports, quick-service restaurants, hotels and motels, travel plazas, marinas etc.

ICOA networks are compatible with widely used 802.11x technology and with virtually all Internet service providers. ICOA is currently entering the DeFi, Blockchain and Crypto Space through multiple acquisitions.

About iBG Finance

iBG is a Decentralised Finance wealth management platform designed to bring simplicity to users interested in entering the cryptocurrency and the DeFi market. iBG is equipped with the latest Robo Advisory technology to offer algorithm-driven recommendations.

Website: https://ibg.finance

Twitter: https://twitter.com/IbgFinance

About Transforming Education Donor Fund

The Transforming Education Donor Fund aims to combine art, sports and technology in order to promote culture through education, bringing together global agendas and empathy among humans to build a better tomorrow, starting with our youth. TEDF was developed as a partnership between Scholas Occurrentes and PVBLIC Foundation with a mission to bring investments to achieve the integration of students with the help and the commitment from various social actors, bringing together schools and educational networks around the world with different technological, athletic and artistic proposals.

The Transforming Education Donor Fund is a Donor Advised Fund that can be supported with any asset contribution – cash, stock, or other assets.

For additional information about Transforming Education Donor Fund, visit the official website: transforming.org

About Scholas Occurrentes

Since its inception, Pope Francis dreamed of Scholas as the possibility of giving a concrete response to the call of this era, conferring on him the task of educating in the openness to the other, upon hearing that gathering the pieces of an atomised and empty of meaning world, and start creating a new culture: the Culture of Encounter. Today, more than twenty years after his first experience in Argentina, dreamed up by the then archbishop Jorge Bergoglio -today Pope Francis- Scholas is constituted as an International Organisation of Pontifical Law, with offices in Argentina, Vatican City, Chile, Colombia, Spain, Haiti, Italy, Japan, Mexico, Mozambique, Panama, Paraguay, Portugal, Romania and the United States; present with its network in 190 countries, integrating more than 400 thousand educational centres and reaching more than one million children and young people around the world.

For additional information about SCHOLAS, visit the official website: scholasoccurrentes.org

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This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

FOR MORE INFORMATION, PLEASE CONTACT:

Contact: Kim Halvorson
Email: [email protected]

NSAV Announces Exclusive LuxFi NFT Token Bonus for Shareholders

NSAV, a cryptocurrency, blockchain and digital asset technology company, today announced that its NFT partner, LuxFi, a real-world luxury asset-backed NFT marketplace, is offering an exclusive 10% Token Bonus of its $LXF Token to NSAV shareholders x Roadshow supporters.

The LuxFi $LXF NFT token is over-subscribed due to overwhelming demand and this offer is available only to NSAV shareholders.

LUXFI will give a 10% $LXF token bonus, based on the total number of $LXF tokens that an individual is holding in their wallet.

To obtain this 10% $LXF token bonus, individuals must hold at least 40,000 shares of NSAV on or before LuxFi’s IDO.

NSAV shareholders and other interested parties are advised to read the below terms and conditions of this special $LXF token bonus.

TERMS & CONDITIONS:

  1. Eligible Transaction Period: 6 October 2021 to 6 January 2022. Only the $LXF token buy transactions within this period, will be counted for the $LXF token bonus.
  2. The $LXF tokens that an individual holding in their wallet must be bought from exchanges. All the transactions of $LXF tokens must be traceable. $LXF tokens received from third parties are invalid and will not be counted.
  3. The special $LXF token bonus will end once NSAV shareholders have purchased $LXF tokens and the total $LXF token value has reached 1,000,000 USDT. The $LXF token value milestone is calculated based on the market value of each $LXF token buy transaction.

The eligible value of $LXF tokens for this special token bonus is calculated based on the timestamp and market price of the transaction, and the eligible value must meet the below criteria:

  1. The maximum total value of $LXF token buy transactions from 1 unique wallet address is 100,000 USDT.
  2. The maximum value of 1 single buy transaction from 1 unique wallet address is 100,000 USDT.
  3. If the total value of $LXF token buy transactions or the value of 1 single buy transaction from 1 unique wallet address exceeds 100,000 USDT, ie, LuxFi will only give the $LXF token bonus to the first 100,000 USDT based on the timestamp and market price of $LXF of that transaction.
  4. Individuals must hold their $LXF tokens in their wallet for at least 3 months to get this special $LXF token bonus. LuxFi will give out the $LXF token bonus to qualified addresses after 3 months.
  5. The special $LXF token bonus has a 1 year lock-up period.

NSAV further announced that it has made major upgrades to its wholly owned NSAV Premium OTC Crypto Trading Desk. The Desk is now fully operational, with substantially increased client capacity. NSAV’s OTC Desk offers private and personalised service to institutions and high net-worth individuals that trade large blocks of cryptocurrency.

OTC Crypto Trading Desks offer increased liquidity, price protection, anonymity, Fiat support, unlimited purchases and the purchase of rare tokens, which are not available on exchanges.

NSAV’s OTC Desk provides its clients with execution and settlement services that are secure, competitive and discreet.

Last week, NSAV announced the acquisition of a 40% stake in Hong Kong Premium OTC Crypto Trading Desk. HKOTC.CO is one of Hong Kong’s most popular OTC crypto trading services, with 16 strategic crypto and blockchain partners, including Binance, Huobi, ZB.com and BW.com.

HKOTC.CO offers fast settlement, flexible payment methods and secure trading, as unlike other digital asset and bitcoin exchanges, it doesn’t hold client’s assets.

Today’s LuxFi NFT announcement reflects the explosive growth and expanding applicability of the NFT marketplace sector. According to NonFungible.com, over $2 billion was spent on non-fungible tokens during the first quarter of 2021 — an increase of about 2,100% from Q4 2020 and already far surpassing the total $250 million NFT market in 2020.

The management of NSAV believes that now is the perfect time to expand into the NFT market. As an accelerator and solutions provider to the cryptocurrency, blockchain and digital assets industry companies; NSAV is glad to join LuxFi in engaging multiple applications to LuxFi’s NFT marketplace.

NSAV will use its resources to support LuxFi in becoming a leader in the real-world luxury asset-backed NFT Marketplace. LuxFi is targeting real-world luxury assets that hold value well, including but not limited to art pieces, diamonds, luxury watches and branded bags.

NFTs have shaken the world of Art. As the global sales of art and antiques reached an estimated $50.1 billion in 2020 – with online sales reaching record highs and doubling in value – the art sector is one potential industry NSAV and LuxFi are willing to explore more together by way of partnership.

By creating an extensive hub of major players internationally in the industry, NSAV will help LuxFi to become a dominating force in the art industry and both parties will form a consortium for upcoming projects.

LuxFi is launching the world’s first real-world asset backed NFT marketplace for luxury assets. Users can use the NFT Marketplace to buy, sell and invest into luxury assets. One of the main features in the platform is the possibility to use cryptocurrencies or traditional payment methods to buy and sell luxury assets.

LuxFi works directly with retailers and professional experts to eliminate counterfeit items while minting NFTs on a multi-chain blockchain network and provide accurate NFT pricing that is backed by real-world data for each NFT on the platform.

LuxFi has an extensive network of brands and retailers. Our data intelligence system is collecting real-world data from global retailers and social media channels to provide accurate pricing that benchmark against global trends. Fingerprint technology is used to tie the real-world asset with its virtual NFT on the blockchain. The product fingerprint is unique for each item.

On Wednesday, September 15, 2021, NSAV Director and a Managing Partner at Bitmart Cryptocurrency Exchange, Mr. Yuen Wong, gave a presentation at the Emerging Growth Conference.

Please see the link below to view Mr. Wong’s presentation. Joining Mr. Wong at the conference was Ms. Aidaa Wong, founder and Chief Executive Officer of LuxFi.

Aidaa Wong, Founder and CEO of LuxFi, stated, “We would like to thank NSAV’s management team for their professional work and treasure very much the opportunity to work with such a high quality company.  We are delighted to announce that our private sale is over-subscribed, and we would like to take this opportunity to thank you NSAV shareholders by offering this exclusive offer to NSAV shareholders only.”

About NSAV:

NSAV Holding’s vision is the establishment of a fully integrated technology company, which provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, financial services, advisory services and information technology.

For further information please contact NSAV at [email protected]

The NSAV Twitter account can be accessed at https://twitter.com/nsavtech 

The NSAV corporate website can be accessed at http://nsavholdinginc.com 

The NSAV Premium OTC Crypto Trading Desk website can be accessed at https://nsavholdinginc.com/otc-desk/

The NSAV Hong Kong OTC Crypto Trading Desk website can be accessed at https://hkotc.co/

About LuxFi:

LuxFi is a real-world luxury asset backed NFT marketplace, leveraging on our big data intelligence system and unique algorithm for automated data collection and data processing. We eliminate counterfeiting while minting an NFT on our multi-chain blockchain network and provide accurate NFT pricing that is backed by real-world data.

To know more about LuxFi’s mission, check our social media channels listed below.

Website: https://www.luxfi.io

Twitter: https://twitter.com/luxfiofficial

Telegram Official Group: https://t.me/Luxfiofficial

Telegram Announcement Channel: https://t.me/luxfinews

Medium: https://luxfiofficial.medium.com

Silverbear Capital Inc., a leading, global investment banking firm, will be advising NSAV on strategic matters related to this transaction.

Silverbear Capital Inc. has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of Partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice.

Disclaimer: Silverbear Capital Inc. does not constitute investment advice, or an offer or solicitation to sell, or a solicitation to buy, or any other investment product in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbours created thereby.

Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link Inc. to accomplish its stated plan of business. Net Savings Link Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate.

In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link Inc. or any other person.

Contact
Net Savings Link Inc.
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What You Need to Know About NFTs

Non-fungible tokens or (NFTs) are a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.

NFTs, or non-fungible tokens are a digital asset that exists on similar blockchain technology to Bitcoin. Non-fungible tokens can be used to represent items such as photos, videos and audio digital files. Access to any copy of the original file, however, is not restricted to the buyer of the non-fungible token.

Each non-fungible token generally differs in its digital makeup, and therefore likely differs in value as well.

The non-fungible token market value tripled in 2020, reaching more than £180 million. During the first quarter of 2021, non-fungible token sales exceeded £1.5 billion.

Almost overnight, non-fungible tokens have taken the art, sports, and entertainment worlds by storm. Many celebrities have made millions selling NFTs, including 3LAU, Eminem, Grimes, Logan Paul, Mark Cuban, Paris Hilton, and Steve Aoki.

Non-fungible tokens have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.

In the physical world, British pounds are fungible. No value is forfeited if a person trades any given paper British pound for a different paper British pound.

On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory” as both artworks are unique, deriving value as such.

There are a number of common non-fungible token marketplaces, including Foundation.app, Mintable.app, OpenSea.io, Rarible, and SuperRare.