NFT

Instagram to Allow Users to Mint and Sell NFTs 🎭

Rahul Kaushik
.
Web 3.0 Research Analyst
Written by
Rahul Kaushik
Published on
November 7, 2022
Read time
3 min read
Category
NFT
Nov 15, 2022

Find out the full story in our weekly NFT Newsletter 👇

Headlines 📰

  • The Company Behind STEPN, FIND SATOSHI LAB, Launches its Own NFT Marketplace
  • Instagram to Allow Users to Mint and Sell NFTs
  • Ripple Launches a Powerful new NFT Token Standard

The Company Behind STEPN, FIND SATOSHI LAB, Launches its Own NFT Marketplace

Image: ameronomics.net

Find Satoshi Lab (FSL), the company behind the STEPN fitness app has launched MOOAR, its own NFT marketplace. According to a press release issued earlier today. The launch is the third product in the FSL ecosystem, following the release of STEPN last year and DOOAR, a decentralized exchange (DEX).

The NFT marketplace aims to empower traders and creators by offering a “unique membership model with zero platform fees and no optional royalties.” However, the marketplace will allow users to create and launch their own collections through MOOAR’s launchpad, which functions similarly to a “community-driven hackathon.”

Instagram to Allow Users to Mint and Sell NFTs

Image: META

Instagram recently announced that in the near future, digital creators will be able to mint and sell non-fungible tokens (NFTs) directly from the social media platform.

The image-focused app recently launched its Digital Collectibles feature in 100 countries, allowing users to connect to their digital wallets and display NFTs that they created or purchased. The linked NFTs will appear in your feed with a shimmery effect to show authenticity.

The most recent update will enable creators to create their own digital collectibles and sell them on and off Instagram, providing them with a “zero-to-one toolkit” for creating, displaying, and selling NFTs.

Ripple(XRP) Launches a Powerful new NFT Token Standard

Over the last 24 hours, an infamous scammer known as Monkey Drainer has drained approximately 700 ETH ($1 million) in crypto and non-fungible tokens (NFTs).

Ripple has launched its own cutting-edge NFT token standard on its XRP Ledger Mainnet.

Over the last year, the Ripple network has made significant progress toward its NFT goals. As a result, a massive $250 million creator fund has been established to support NFT development within its ecosystem. Ripple, on the other hand, has taken its initiative a step further by introducing its sleek new XRP-20 token standard.

Thanks to the collective effort of the #XRPL community and @RippleXDev engineers, XLS-20 is now enabled on the XRP Ledger Mainnet and a few NFTs have already been minted. (1/4)

— David “JoelKatz” Schwartz (@JoelKatz)

Ripple intends to heavily promote NFT-backed physical objects through the development by leveraging its cutting-edge technology to promise faster, super-efficient, and ultra-secure transactions by harnessing the power of the XRP Ledger, all while ensuring fair compensation for artists by administering creator royalties entirely on chain.

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Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

Rahul Kaushik

Rahul is a former software engineer who is now a writer. After working as a full-stack developer early in his career, he realized that coding was not his forte and began writing blogs, poetry, and articles for sports magazines. He is always torn between Football and Bitcoin as his first love. In his spare time, he enjoys reading books on economics, startups, and business, as well as educating people on personal finance, cryptocurrency, and Web 3.0 on Instagram.

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