Nifty News: NFTs in Space, CryptoPunks Defunct, Ernst & Young Gets Involved

342 CryptoPunks may be lost forever as NFTs are streamed from and to the International Space Station, Unifty decentralizes its administration, and NFTs are streamed from and to the International Space Station.

For NFTs, it’s a Modest step…

On July 28, two firms collaborated to send a recording of Claude Debussy’s “Clair de Lune” to and from the International Space Station, claiming to be the first time a nonfungible token (NFT) has orbited the Earth.

The orbital NFT expedition is the result of a collaboration between Artemis Music Entertainment and Nanoracks LLC, with the two companies minting the music as a nonfungible token after the hard drive containing the song completed one orbit of the Earth in about 90 minutes.

“The cosmic perspective of space inspires a cognitive shift in humans,” said Artemis Music co-founder Bob Richards, adding:

“‘Clair de Lune’ perhaps comes as close as possible to stirring the emotions of awe and wonder experienced by space travelers.”

Debussy’s Clair de Lune was first published in 1905, with the tokenized version capturing a performance of the classic by Wing-Chong Kam, a Hong Kong-based pianist, on July 19, 2021.

Artemis intends to sell the NFT in the future, according to Richards, and the proceeds will go to the Artemis Music Foundation to assist future space endeavors.

On July 28, Debussy’s piece was not the first NFT to reach orbit; Micah Johnson’s tokenized artwork featuring a black child astronaut dubbed “Aku” was also broadcast to and from the space station via Artemis.

CryptoPunks, the Forgotten

Jereon Hesp, the founder of NFT marketplace Masterpiece, has revealed data showing that four wallets containing 342 coveted CryptoPunks had been inactive for at least three years.

Hesp speculated that the proprietors of the address had misplaced their keys or wallet: “If you have this many punks and haven’t sold a single one by now, it’s presumably because you lost access to the wallet.”

Despite — or perhaps because of — their rough, pixelated aesthetics, the pioneering NFTs have enjoyed massive value gain since CryptoPunks launched in June 2017, with just 110 transactions driving over $16.5 million in CryptoPunks trades in the last 24 hours.

NFTs were created using EY OpsChain

CinTech, an Italian blockchain startup, has created nonfungible tokens to commemorate the 22 important scenes from the 2012 Italian film La Leggenda Di Kaspar Kauser.

EY OpsChain, a blockchain-as-a-service platform from Big Four accounting firm Ernst & Young, was used to create the tokens (EY). Staff from EY aided in the development of the NFTs’ sales process and strategy.

Renato Pezzi, Jacopo and Nicolo Lucignano, the founders of CinTech, have said that a portion of the proceeds from the token sale will be used to support a documentary on the nonfungible token market.

“We are proud to support a new and innovative way of driving value for the film industry,” said Giuseppe Perrone of EY.

Unifty is a decentralized governance system.

Unifty, an NFT marketplace, has decentralized its administration by introducing a dual-token economy. On August 3, the platform announced that its original NIF token would henceforth be used solely for governance, as well as the introduction of a new utility token for fee payment and other purposes.

NIF stakeholders will receive the new UNT coin as a reward, with users receiving additional UNT prizes for participating in the project’s governance process. Markus Bopp, Unifty’s CTO, stated:

“Decentralization should always be the answer in crypto. Maybe not right at its start, when the project is still young and its success is heavily reliant on great execution and the founding team’s vision, but it should be the ultimate goal.”

Unifty is currently live on Ethereum, Polygon, Binance Smart Chain, Celo, xDai, and Avalanche.

Source: Cointelegraph

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