Ethereum co-founder Vitalik Buterin has proposed a way to anonymize NFT transactions using smart contracts.
In this week’s newsletter, read Ethereum co-founder Vitalik Buterin’s proposal to own a cryptocurrency’s token (NFT). Find out how CryptoPunk is breaking up into thousands to provide access to small investors, and how for-profit NFT game Axie Infinity plans to double its operations in South Korea despite regulatory hurdles. On the other hand, learn how NFT storage works according to two NFT experts. Finally, see how this Redditor turned NFT space critiques into NFTs.
Vitalik Buterin proposes private addresses for anonymous NFT ownership
Ethereum co-founder Vitalik Buterin has proposed what he calls a “low-tech approach” to adding privacy to NFT transactions. According to Buterin, smart contract wallets could add a way to allow senders to hide their addresses to third parties.
In a tweet, Buterin wrote that an NFT could be sent to an address like Vitalik.eth, for example, without anyone else being able to tell where the NFT was sent from, except the new owner. However, using this method, senders must have enough ether.
To pay five to 50 times the fare.
A Slice From The Bank: CryptoPunk NFT split into thousands of blocks
With the cost of NFTs rising, fragmentation has become a solution that allows small investors to take a stake in popular NFTs like CryptoPunks. With a new campaign, Punk’s ownership will be at 56,000 wallet addresses registered for one share.
This effort gives NFT users a chance to join the NFT pool that they weren’t able to access before, but is now more accessible to all through hashing. The campaign is facilitated by Unique Network, an NFT infrastructure built on Kusama and Polkadot.
Axie Infinity wants to ‘double up’ South Korean market
Jeffrey Zerlin, co-founder of Sky Mavis, the company behind the Axie Infinity NFT game, spoke to Cointelegraph at Korea Blockchain Week. He said that despite regulatory hurdles in South Korea, the team is still looking at the region and how the team can design the game to serve its players in the region.
Zerlin noted that their team wanted to “double” the field. He said that since Koreans do not speak much English, there are obstacles for Korean players to get the game. For this reason, the co-founder of Sky Mavis said that the company wanted to localize.
Experts say that non-duty tokens do not live on the blockchain
In an interview with Cointelegraph, NFT experts Jonathan Victor and Alex Salnikov talk about misconceptions about NFT storage. According to the two, the NFT is not stored on the blockchain, but on other decentralized storage platforms such as the Interplanetary File System (IPFS) and Filecoin.
Salnikov explained that because NFTs are a relatively new concept, many people do not know how NFT storage works. Clarifying the matter, Salnikov said that NFTs in a user’s wallet only point to the file they represent. According to the CEO of NFT Marketplace Rarible, the actual file called NFT metadata is stored elsewhere.
Worthless JPEGs: Redditor turns NFT criticism into NFTs
In a quest to mock NFT critics, Reddit user u/busterrulezzzz presented the NFT collection in the r/cryptocurrency subreddit to entertain community members as experts rejoice in the bear market.
“Worthless JPEGs!” Compile a group named
Thank you for reading this summary of the week’s highlights in the NFT space. Come back next Wednesday for more reports and insights into this actively developing field.