Michael Jackson on Blockchain, Web3 Gaming Trends in 2024: Nifty Newsletter
In this week's newsletter, read how Michael Jackson's first recording is coming to the blockchain and why the non-fungible token (NFT) lending protocol ParaSpace is turning into parallel finance. See how the Rarible ecosystem is growing its commitment to royalty enforcement, and find out what executives working in the gaming industry think about the future of blockchain gaming in 2024.
Michael Jackson's first studio album to be released on blockchain.
A track titled “Big Boy (One-Derful Version)” by Michael Jackson hits NFT in another block on the music scene. The track is the first studio recording of a young Michael Jackson.
The track was recorded in In 1967, eight-year-old Michael Jackson recorded his first studio session with his brothers at the One-Derful in Chicago. OtherBlock CEO and co-founder Michele Traore told Cointelegraph that dropping the track on the chain elevates the song beyond mere merchandising.
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When converting to parallel financing, ParaSpace NFT to continue lending
The NFT lending protocol brings parallel finance back to parallel finance, with a greater focus on decentralized finance and NFT lending. Yubo Ruan, CEO and founder of Parallel Finance, told Cointelegraph that he believes NFT margin lending is viable despite the market downturn.
Ruan added that NFT loans serve a “substantial yet growing sector of collectors” who want to leverage their investments.
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RARIBEL RARI Foundation Taps Arbiter on Royalty-Embedded EVM Chain
NFT marketplace Rarible's nonprofit arm, the RARI Foundation, has launched a testnet for an Ethereum virtual machine-compatible blockchain called RARI Chain. According to the announcement, blockchain royalty payments will be integrated into the nodes, further strengthening the Rarible ecosystem's commitment to royalty enforcement.
Jana Bertram, executive director of the RARI Foundation, said in a statement that it is important to provide tools and environments that contribute to the success of innovators. “Our commitment lies in preventing the fragmentation of developers from Web 3 development,” Bertram said.
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Web3 Gaming Trends in 2024: Execs Weigh in on the Future of Blockchain Gaming
As blockchain gaming continues to rise to the mainstream, executives working in the gaming industry are considering possible trends in 2024. Henry Chang, CEO of the game development company, said that as developers become more confident, there will be more complex usage. Blockchain elements in in-game mechanics and gameplay.
Meanwhile, G2A Capital Group founder and CEO Bartos Sukarsek believes there should be a true triple-A rated Web3 game in 2024, which will serve as a catalyst to further advance the development of blockchain gaming.
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Check out the Cointelgraphs NFT SteEZ podcast
Thanks for reading this roundup of the week's most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively growing space.
