Avalanche Launches Avaissance to Boost NFT Ecosystem

The Avalanche Foundation has launched Avaissance, an initiative aimed at supporting digital artists and boosting the growth of the Avalanche NFT ecosystem. Avaissance includes two main components: the Artist in Resident program (AIR) for over 50 artists and the Mona Lisa Initiative (MLI) to curate digital art and expand the collections of art-focused DAOs. The AIR program will provide funding, mentorship, and virtual workshops for six months to artists of any skill level. Meanwhile, the MLI will collaborate with DAOs’ curatorial teams to promote emerging Avalanche NFT artists and establish an “Avalanche Permanent Collection.”

In other NFT news, Ticketmaster has announced a new feature called token-gated ticket sales, which allows artists to reward NFT holders with exclusive benefits such as special presales, prime seats, custom travel packages, and access to unique concert experiences. This functionality was developed after American heavy metal band Avenged Sevenfold (A7X) approached Ticketmaster and its Web3 team, Bitflips, for help implementing a service that would allow holders of its NFTs – Deathbats Club, a collection of 10,000 unique Deathbat NFTs – to unlock perks and access to events. The feature works with tokens minted on Ethereum and stored in decentralized application (DApp) wallets like MetaMask or Coinbase.

Patrick Amadon, a popular NFT artist, recently withdrew his work from a major auction house, Sotheby’s upcoming “Natively Digital: Glitch-ism” art sale, to protest a lack of female representation. He shared his decision with his 142,400 Twitter followers, and Sotheby’s responded the next day by announcing that it would pause the sale to “redress the imbalance in representation within the sale” and relaunch later with a “more equitable and diverse group of artists.”

Mike Winkelmann, also known as Beeple, recently shared a video with his Twitter followers, revealing his new 50,000-square-foot studio in South Carolina. According to Beeple’s website, he will use the space to create his artwork and host events to “showcase the very best art and communities.” The website stated that they are looking to partner with the most cutting-edge artists and communities to put on events that are not possible at any other venue.

On March 25, an NFT from the popular CryptoPunks collection valued at approximately $135,000 was accidentally burned by an investor attempting the process of NFT wrapping to potentially borrow liquidity from it. While the loss was unfortunate, it highlights the importance of proper education and caution when dealing with NFTs.

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Sony Files Patent for NFT Transfer Framework

Through the years, Sony Interactive Entertainment, the company that owns the PlayStation brand, has shown that it is interested in virtual currencies such as bitcoin and ethereum by entering into a number of agreements and registering trademarks in connection with these cryptocurrencies. These actions demonstrate that Sony Interactive Entertainment is interested in virtual currencies. Bitcoin and ethereum are two examples of virtual currencies. The signing of agreements and the application for registration of trademarks are examples of this kind of action. The industry behemoth that focuses on video games has taken a number of steps recently, the most recent of which was to submit a patent application for a non-fungible token (NFT) architecture. This activity was the most recent phase that the firm completed in its process. By using this framework, the transfer and exploitation of digital assets across a broad range of gaming platforms would be simplified. This would be a beneficial outcome. In the application for a patent, the invention that is being suggested is referred to as a “NFT framework for transferring and using digital assets between game platforms.” Its name originates from the in-depth technical explanation provided for the innovation. If the infrastructure that is outlined in the application for the patent were to be put into place, users would be able to move and use their digital assets in a manner that is not only streamlined but also secure. This would be possible if the infrastructure were to be put into place. The patent application includes a comprehensive description of the system’s architecture. The creation and maintenance of NFTs would become achievable on a variety of different gaming platforms if this architecture were to be used. In light of the proliferation of non-fungible tokens (NFTs) in the gaming industry, Sony’s efforts to create a framework for the transfer of NFTs might put the corporation in a position where it can become a market leader in this particular sector. This is due to the fact that the gaming industry has seen an increase in the number of non-fungible tokens (NFTs). This would be a response to the fact that non-traditional bets are getting more and more popularity in the gaming industry. In other words, this would be a reaction.

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