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The NFTs Revolution: LuxFi Is Launching Asset-Backed NFT Marketplace for Luxury Assets

The NFTs Revolution: LuxFi Is Launching Asset-Backed NFT Marketplace for Luxury Assets

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Buying a Rolex watch or a Chanel bag with Bitcoins? LuxFi makes it possible. LuxFi announced that it will launch its NFT marketplace with the goal of bridging the gap between digital assets (NFTs) and real-world luxury assets. LuxFi’s marketplace will allow anyone to purchase, sell, and invest in luxury assets using NFTs. It also allows for traditional and cryptocurrency payment options.

The phygital world of luxury evolved into an integral part of human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The global digital revolution has captured the attention of consumers all over the world and the flourishing global luxury market is not slowing down.

LuxFi’s NFT Marketplace

LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. LuxFi will launch a platform that assists consumers in overcoming existing problems and creating a sustainable luxury market ecosystem. The world’s first asset-backed NFT marketplace, for luxury assets, is now available. It integrates with advanced technologies that allow for permanent traceability, authentication, and asset transferability.

With this marketplace, LuxFi is able to establish an ecosystem for buyers and sellers. LuxFi works directly with manufacturers and brands to enable people to sell, buy and invest in luxury assets. All transactions are verified by professionals in the network. The new owners do not have to redeem the products in order to resell them. However, their luxury asset-backed NFTs are able to be used as collateral for loans or sent and transferred on different platforms, such as live streaming and games. The physical items can be redeemed by new owners in the real world.

LuxFi’s innovative platform goes beyond solving the pain points previously mentioned, it provides consumers with an alternative method to invest and potentially assist those who otherwise have difficulty accessing loan banking services to get financing services.

LuxFi also collects data from global online and offline sales channels, and social media platforms for luxury assets. To provide accurate pricing for each NFT, the data is analysed and compared to global trends.

A consumption item that was once viewed as mere satisfaction for consumers to splurge on, now possesses the ability to be transformed into assets that are not only valuable but also investible. The launch of LuxFi NFT marketplace will be a big deal and will revolutionize the luxury sector through the innovative use blockchain technology.

LuxFi is on its path to transform the luxury industry for a brighter future. Follow LuxFi on social media to learn more about its progress and future plans.

You May Win a Rolex with 0. 01ETH – LuxFi’s NFTs Auction & Lottery on 26th Sep

LuxFi is grateful for all the genuine support that their community has given to them. To celebrate their upcoming launch of their NFT marketplace, LuxFi is going to hold its Auction & Lottery on 26th Sep at 10: 00AM UTC to 3rd Oct at 10: 00AM. Each 0. 01ETH, the participant will get 1 Lottery Ticket to get a chance to be a winner of the top prize, a Rolex watch NFT!

Non-Fungible Tokens

Non-fungible tokens (NFTs), a form of token that provides the ability to tokenize assets online through a certificate of ownership, has inspired luxury brands and their recent evolutions. NFTs are a way for buyers and sellers to securely buy, sell, and invest in luxury assets.

Blockchain is the missing piece in the luxury market puzzle, it allows for the creation of physical-to-digital links between goods and their digital identities. The physical identifier of the product is the serial number or seal. Brands are betting on this digital identity, and experts believe blockchain will make a significant impact on that micro-scale. LuxFi’s professional retailers network will be key to ensuring that luxury brands are authenticated at the very beginning of manufacturing. They also act as verifiers for any existing luxury assets on the market. They can sell products that are linked to digital identities. This fosters trust between the customer and the brand, as well as improving the customer-brand relationship.

Using blockchain technology the entire lifecycle of any product can be monitored and tracked with a decentralized, tamper-proof digital ledger, all while maintaining the owner’s privacy and security.

Aidaa Wong, CEO and Founder of LuxFi said: “New technologies are unlocking limitless possibilities in the luxury market. LuxFi’s CEO and Founder, Aidaa Wong stated that our goal is to create the first asset-backed NFT market for luxury assets. The industry is moving towards a more positive, sustainable environment. Blockchain technology is a significant milestone in many industries. Today, blockchain is the new black on the luxury market. Our NFT marketplace will allow people to use cryptocurrency to purchase, sell, and invest in authentic luxury assets. Our NFTs are backed by real world data. We are looking forward to exploring further the multiple possibilities of what our luxury asset-backed NFTs, blockchain-based data intelligence system and ecosystem could offer. This is a revolutionary time in the way we consume luxury assets!”

About LuxFi

LuxFi is the world’s first luxury asset-backed NFT marketplace, leveraging on a big data intelligence system and unique algorithm for automated data collecting and data processing. LuxFi prevents counterfeiting by minting NFTs on multi-chain blockchain networks. They also provide accurate NFT pricing that’s backed up with real-world data. IDO will take place on October 6, 2021.

Media Contacts

Website: https://www.luxfi.io

Twitter: https://twitter.com/luxfiofficial

Telegram Official Group: https://t.me/Luxfiofficial

Telegram Announcement Channel: https://t.me/luxfinews

Medium: https://luxfiofficial.medium.com


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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to purchase or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Bitcoin Mining Difficulty Drops to 4.33%, Largest Reduction in 10 months

Bitcoin Mining Difficulty Drops 4.33%, Biggest Reduction in 10 Months

It’s now 4. 33% easier to mine bitcoin over the next two weeks as the difficulty adjustment algorithm (DAA) dropped from 31. 25 trillion to today’s 29. 85 trillion. It’s the largest DAA drop since July 17, 2021, when the difficulty dropped 4. 81% at block height 691,488.

Bitcoin Mining Difficulty Drops 4. 33% — The Largest Drop Since July 2021

  • Mining bitcoin is a lot less difficult than it was before May 25, 2022, as Bitcoin’s difficulty adjustment algorithm (DAA) saw a 4. 33% reduction in difficulty.
  • Prior to the drop, Bitcoin’s difficulty was approximately 31. 25 trillion and today, it’s approximately 29. 85 trillion after the largest drop since July 2021. The DAA change occurred at block height 737,856 on Wednesday.

Bitcoin Mining Difficulty Drops 4.33%, Biggest Reduction in 10 Months

  • Bitcoin’s USD value has been lower in recent times, so a downward difficulty adjustment helps miners recoup some of the losses by making it 4. 33% easier to find bitcoin block rewards. Currently, a Bitmain Antminer S19 Pro+ Hyd. with 198 terahash per second (TH/s) in hashpower can get an estimated $9. 24 per day in BTC profits.
  • Bitcoin’s global hashrate has been consistent and above the 200 exahash per second (EH/s) region for quite some time now. On May 2, 2022, Bitcoin’s hashrate tapped an all-time high at 275 EH/s at block height 734,577.
  • Right now, there are 1,864 bitcoin (BTC) blocks left to be found until the next DAA change on June 8, 2022, and 101,992 blocks left until the next reward halving. There will be roughly 51 consecutive DAA changes every two weeks before the block reward halving occurs.
  • Bitcoin’s current difficulty, the USD value, and a cost of $0. 12 per kilowatt-hour (kWh) makes it so machines that produce 30 terahash per second (TH/s) are not very profitable, unless the miner pays less than $0. 12 per kWh. For example, the Innosilicon T3+ (52 TH/s), gets around $0. 21 per day in BTC profits if electricity costs $0. 12 per kWh.
  • Three-day mining pool statistics indicate that there are 12 known mining pools today dedicating SHA256 hashpower to the BTC chain. Around 1. 44% of the global hashrate is operated by unknown or stealth miners with roughly 3. 04 EH/s of hashpower.
  • Metrics over the past 72 hours show Foundry USA has been the top bitcoin mining pool in terms of global hashrate and blocks found. At the time of writing, Foundry’s hashrate is approximately 24. 28% of Bitcoin’s global hashrate or 51. 10 EH/s. The pool found 101 BTC block rewards out of the 416 blocks found during the past three days.
  • Bitmain’s Antpool managed to find 61 blocks out of the 416 found in three days, making it the second largest pool in terms of computational power. Antpool’s 30. 86 EH/s of hashrate equates to 14. 66% of the global aggregate.
  • With BTC‘s difficulty running at 29,850,529,410,160 estimates currently show another reduction is in the cards, but 13 days can change the estimation a great deal. The DAA has a reduction of 0. 16% lower.

What do you think about the downward difficulty change on May 25 at block height 737,856 on Wednesday? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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LimeWire signs major deal with Universal Music Group to provide music-based NFTs

LimeWire, the new NFTs marketplace that sprung from the discontinued popular music app of the early 2000s, has scored a huge deal with Universal Music Group (UMG). LimeWire’s continued rise into the spotlight is due to the partnership with UMG. UMG is a global leader in entertainment and music. Per a press announcement released on…

LimeWire, the new NFTs marketplace that sprung from the discontinued popular music app of the early 2000s, has scored a huge deal with Universal Music Group (UMG).

LimeWire’s continued rise into the spotlight is due to the partnership with UMG. UMG is a global leader in entertainment and music.

Per a press announcement released on Tuesday, the deal with Universal Music allows the firm to offer its digital collectibles marketplace to several iconic record labels and revered artists.

UMG to license artists to LimeWire’s NFT marketplace

Labels could tap into LimeWire NFT Marketplace to increase fan engagement through digital music NFTs. These include Virgin Music, Virgin Music and Republic Records.

Paul, LimeWire coCEOs, commented on the collaboration. Julian Zehetmayr and Paul, LimeWire coCEOs, stated that the partnership was “true evidence of the speed at which the music business embraces Web3”.

We’re thrilled to open up the LimeWire NFT ecosystem to Universal Music Group artists and fans and can’t wait to see the first creative projects being launched on the marketplace,” they added.

Important milestone reached! We’re thrilled to announce our partnership with Universal Music Group @UMG, opening up opportunities for music NFTs to all artists signed to Universal and UMG labels.

Read more here https://t.co/VHolELPC1e pic.twitter.com/JfE3IfMEQ0

— LimeWire (@limewire) May 17, 2022

The partnership will enable the marketplace to access the licenses it needs to partner artists signed up by UMG. The collaboration will translate to original music-based NFT project.

The NFT market continues to grow, as major players, including governments, embrace technology that allows the creation and security of digital items on blockchain.

Monetization possibilities make the industry a great fit for artists and other people looking to improve their revenue streams. LimeWire will offer that opportunity to UMG artists.

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Smart Token Labs supports Carla Chan & La Prairie in First NFT drop

Manly, Australia, 17th May, 2022, Chainwire Bringing Art and Beauty Lovers Into Web3 The first NFT art collection by La Prairie, the leading luxury skincare brand in the world, was created with the help of Carla Chan, a world-renowned digital artist. It is more than just the inspiring and innovative art it contains. “Space Beyond”…

Manly, Australia, 17th May, 2022, Chainwire

Bringing Art and Beauty Lovers Into Web3

The first NFT art collection by La Prairie, the leading luxury skincare brand in the world, was created with the help of Carla Chan, a world-renowned digital artist. It is more than just the inspiring and innovative art it contains.

“Space Beyond” by Carla Chan involves 365 + 1 editions of unique, forever-changing artworks generated in real-time with weather and demographic data. Each artwork represents a day in the year of the 31 most populated cities across the globe.

The artwork will be dropped on May 18 at FRIEZE New York and proceeds will benefit the preservation of glaciers around the world.

The drop can be accessed at www.nft.carlachan.com from 11am EDT on May 18.

Smart Token Labs supports Carla Chan, La Prairie and brings the NFT drop to life in order to attract an art buyer audience that isn’t necessarily crypto-native.

“Our TokenScript framework was used to make it simple for people to buy the NFT without having a digital wallet, and then to unlock unique experiences using the La Prairie brand via NFT,” stated Victor Zhang, CEO of Smart Token Labs.

‘ The payment flow allows you to buy the NFT using a credit card. A magic link attestation will be sent to the buyer to prove ownership. The magic link can be used to mint the NFT at a later date via a digital wallet.

NFT holders will have access to exclusive experiences and custom software via TokenScript Brand Connector, which connects the NFT with a La Prairie brand website.

Carla Chan stated : “We are thrilled that holders of Space Beyond NFTs can seamlessly interact with La Prairie brands at locations around the globe via experiences such as events and product reveals. Smart Token Labs has provided world-class technology and support to us in bringing art buyers from all over the globe into our first NFT collection. We are grateful for their help. We couldn’t have been happier with the scope and excitement of this project. Now I’m super excited to launch my collection at Frieze New York and Art Basel Hong Kong. It will certainly bring/attract old collectors into web3 with no hassle “

About Smart Token Labs

Smart Token Labs has set a new standard in tokenized future. Since 2017, it has been building two core bridges to this future: AlphaWallet, a superuser agent for smart tokens and TokenScript, the smart token interface for token composability. TokenScript is a token-centric framework that allows you to build composable smart tokens across all NFTs, PlayFi and DeFi.

About Carla Chan

Carla Chan, a media artist based in Berlin from Hong Kong, is . Her approach to media art is similar to the ever-evolving technology. It challenges conventional perceptions of media interfaces and opens up new possibilities for artistic expressions. Chan’s work has been exhibited at many international venues, including the Hong Kong Museum of Art (HK), ZKM (DE), Art Basel (HK), Frieze New York (US), Today Art Museum (CN), among others. At the Hong Kong Arts Development Awards, she was awarded the Toy Berlin Masters Award in DE and Young Artist Award in Media Arts. Her works are in the Burger Collection (CH/HK), and M+ Museum, (HK )

).

About La Prairie

La Prairie is the leader in luxury skincare, present in 90 countries around the world. Rooted in Switzerland, La Prairie evokes innovation, performance, high-touch service and Swissness — the purity, precision and excellence inherent to the extraordinary land that saw the brand’s inception in 1978.

About La Prairie and Art

La Prairie is intrinsically connected to the world art from its inceptions. It finds inspiration in contemporary aesthetic codes which fuel the House’s creative approach. Paul Niehans, La Prairie’s founder, has been a tireless pursuer of timeless beauty. La Prairie creates new connections with other art worlds in an effort to preserve beauty for all time.

Contacts

Chief Marketing Officer, Brent Annells, Smart Token Labs, [email protected]

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