The establishment of the JUST NFT Fund follows a recent successful bid by Sun on Beeple’s NFT artwork ‘Ocean Front’ for a whopping $6 million.
Tron Foundation founder and Rainberry Inc CEO Justin Sun has officially announced the JUST NFT Fund to further venture into the digital art world market. Through a Medium open letter, Sun noted that the fund will only focus on top-notch artists who have been in the traditional and digital art world for a long period.
“The highly sought-after NFT market calls for the birth of JUST NFT fund, which aims to be the ARK Funds in the NFT space to register world-class artworks as NFTs on the blockchain. JUST NFT fund was born to build a bridge between top-notch artists and blockchain, and to support the growth of native crypto NFT artists,” Sun noted.
Further, Sun noted that only digital artworks worth more than $1 will be covered by the JUST NFT Fund. “JUST NFT only focuses on top-notch artists and artworks. In principle, the fund only accepts art pieces with a price tag of no less than $1 million and a median value of $10 million. We believe the art space is also subject to the 80–20 rule, or the Pareto Principle, where only the value of the artists sitting at the tippy-top of the pyramid can stand the test of time,” Sun explained.
JUST NFT Fund by Justin Sun
The establishment of the JUST NFT Fund follows a recent successful bid by Sun on Beeple’s NFT artwork ‘Ocean Front’ for a whopping $6 million. Mike Winkelmann, better known as Beeple has taken the NFT market by storm after his $69 million digital artwork auction last month. Recent market data reveals that Winkelmann is at the top of the NFT market having sold approximately $100 million worth of digital artworks.
Beeple’s artworks are representatives of something deeper and he intends to use his influence to change the world for the better. As for the ‘Ocean Front’ artwork, Beeple noted that he is sensitizing people on the effect of global warming.
“The piece auctioned off represents what will eventually happen if we were to do nothing. Water levels will continue to rise until eventually, Ohio will be ocean front property. I am even more confident though that will not happen after yesterday. This is a community that cares about its carbon footprint and is taking active steps to make things better. This $6M bid will fund years of research so it’s truly an honor to be a part of this project with Justin,” Winkelmann noted after the auction.
The NFT market has grown tremendously in the past three months, taking the blockchain and crypto industry by storm. Last year, the NFT market recorded a trading volume of $250 million. Interestingly, the total sales in the past one month have already surpassed $220 million.
Reddit Working on NFT Platform
The Reddit message board is getting into the NFT market, a new job posting suggests
Online message board Reddit is preparing to develop a platform for non-fungible tokens, according to a new job posting.
The San Francisco-headquartered company is looking for a senior backend engineer who will be responsible for building services that will make it possible for “millions” of users to mint and trade NFTs.
The job description highlights the importance of NFTs, predicting that they are going to “rewrite” the way we think about goods. It highlights a slew of use cases that are linked to the new technology:
Beyond visual art, there are already NFTs for music, videos, articles, and even memes. Many believe that NFTs will become the standard for items in online games, as well as items in the eventual metaverse.
Five years of experience in backend development and the ability to design complex distributed systems are the key qualifications required for the position.
Reddit co-founder Alexis Ohanian is a big fan of Ethereum and NFTs. At the MET Fashion Gala, he even wore a CryptoPunk NFT that he purchased for his wife, Serena Williams.
Playboy Releases Ethereum-Based Rabbitars NFTs, Presale Begins in 2 Days
Playboy has created Ethereum-based Rabbitars NFTs as ERC-721 tokens. The project’s website describes Playboy Rabbitars as a “lagomorphic-themed civilization of unique and non-fungible rabbits.” There are 11,953 of them, inspired by Playboy iconography, heritage and lore.
The news was shared by Chinese crypto journalist and blogger Colin Wu. He posted a screenshot from the project’s website, featuring some of the Playboy Rabbitars.
Playboy launched Rabbitars NFT, which will be officially sold in two days, with a Mint price of 0.1953 ETH. https://t.co/HzCIf6W9nT pic.twitter.com/FaQRskQEQZ— Wu Blockchain (@WuBlockchain) October 22, 2021
The sale will begin in two days at a mint price of 0.1953 ETH ($803). The website explains that in order to become an owner of such an NFT, a user needs to set up a Metamask wallet. However, NFTs will be available for sale both for fiat and crypto.
Those who want to pay in ETH need to load up their wallet at least two days before the sale starts. Presale for ETH will begin on Oct. 24. The public sale for U.S. dollars will start on Oct. 26, and the next day, users will be able to buy Rabbitars for ETH.
It is possible to order 1-2 NFTs during the presale. At a public sale, one user is allowed to buy up to ten Rabbitars.
Mars Land NFTs Released on Ethereum, MARS4 Tokens Listed on Bittrex, Sushiswap
Here’s how land plot on Mars can be obtained in a new-gen manner through NFT marketplace
Shortly after the release of an eccentric NFT-focused metaverse, the Mars Land project sees its core native utility asset, MARS4, listed by Tier 1 centralized exchange Bittrex and leading DEX SushiSwap (SUSHI).
Here’s how NFT instruments allow crypto enthusiasts to purchase land on Mars
The Mars4 team behind Mars Land, a novel digital collectibles project, has modeled a 3D map of Mars’ terrain based on the latest NASA data. The total area of Mars’ terrain is divided into 99,888 tokenized plots.
Then, the NFTs associated with segments of Mars Land are available for sale as non-fungible tokens. Mars Land NFTs are minted on Ethereum (ETH) blockchain and can be utilized in various digital economic initiatives.
Namely, Mars NFTs can be locked for staking and utilized for liquidity mining; therefore, Mars Land NFTs evolved into a full-stack instrument of passive income for cryptocurrency enthusiasts with various levels of expertise.
Mars Land NFTs are released in batches; 10,000 tokens are listed per epoch. Starting from Epoch 1, 51% of the income generated is redistributed among current NFT holders. By mid-October, there are more than 50,000 NFTs in circulation.
MARS4 listed on CEXes and DEXes: Why is this crucial?
Mars Land adheres to a dual tokenomic design: its architecture includes NFTs and MARS4 dollars. In total, there are four billion MARS4 tokens in circulation.
MARS4 tokens are now available on Bittrex, a veteran centralized cryptocurrency trading ecosystem. Bittrex offers the widest range of assets amidst all CEXes working in the United States.
Also, MARS4 tokens can be purchased on leading Ethereum-based decentralized exchange, SushiSwap (SUSHI). On SushiSwap (SUSHI), MARS4 tokens can be staked as well.