## In January, news of a Fall Out Boy NFT dropped. What happened next?

Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley.
On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by [Invisible Friends](https://invisiblefriends.io/), a well-known [NFT](/news/category/nft-news) creator with a significant following.

The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".

Given the band's international fanbase, it was no surprise that the tweet quickly went viral.
However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.

Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena.
The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.

Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.

Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.

Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
 
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.


Fall Out Boy NFT. What Happened?

eBay announced the acquisition of Manchester-based NFT marketplace [KnownOrigin](https://knownorigin.io/) yesterday. The deal's financial details are unknown. eBay said the purchase was finalised in June 2022.

Andy Gray, David Moore, and James Morgan founded KnownOrigin, a UK marketplace where artists and collectors can make, buy, and resell NFTs. The platform is regarded as one of the best nft marketplaces in the UK.

The purchase will bolster eBay’s position as a leading site as our community adds digital collectibles, said CEO Jamie Iannone. “KnownOrigin has a remarkable, passionate, and dedicated network of artists and collectors, making them a fantastic addition to our seller-buyer community. We welcome these inventors to eBay”.

The deal took place a month after launching its inaugural NFT collection. The new "Genesis" NFT Collection will contain 3D and animated versions of Sports Illustrated cover athletes. eBay's first NFT collaboration was spurred by the collectibles sector.

eBay has a large online retail presence, but it will face stiff competition from crypto-native NFT platforms. Its acquisition of KnownOrigin shows it's serious about entering the NFT space.

“As interest in NFTs grows, we think now is the right time to join eBay. We've spent 25 years establishing enthusiastic communities and are delighted to bring a new audience along. This is a new chapter for KnownOrigin, and we couldn't have picked a better time to work with eBay. This cooperation will attract NFT makers and collectors." Stated co-founder David Moore. The company's latest acquisition expands its blockchain and digital collectibles efforts.

KnownOrigin is the best NFT marketplace because it has a passionate community of artists and collectors, making it a perfect addition to eBay's seller-buyer community. The platform was designed to help creators and collectors promote, sell, and acquire real digital objects. As interest in NFTs continues to grow, KnownOrigin is the perfect place to join the marketplace behemoth. This cooperation will attract NFT makers and collectors from all over the world.

For more developments on the best NFT marketplace go to [Latest Moni](/news)


Ebay Buys KnownOrigin For An Undisclosed Amount

## MoonPay launches NFT Platform with Fox, Universal Pictures. 

MoonPay is partnering with Fox Corporation, Universal Pictures, and Death Row Records (from Rapper Snoop Dogg) in addition to other brands to launch HyperMint, a new NFT platform. 

This partnership was announced by Ivan-Soto-Wright, Chief Executive Officer (CEO) as part of this week’s (June 20 to 24) NFT.NYC conference at Radio City Music Hall in New York City. 

This comes as great news for the digital collectibles space after volume for NFT marketplaces reached new high lows in 2022. 
This also bodes well for the adoption of cryptocurrencies despite complaints by investors Bill Gate and Warren Buffett about the [worth of Bitcoin](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334) and digital assets as a whole.   

HyperMint will enable enterprises, agencies, and large brands to mint hundreds of millions of NFTs daily. This will be an upgrade on the minting process of existing NFT platforms are accustomed to, which takes months to complete.
The platform’s underlying technology has laid grounds for a further breakout in NFTs for legacy brands like Fox and Universal which have several intellectual properties that can be rolled out to millions of digital collectibles lovers. 

Non-Fungible Tokens represent real-world objects in virtual reality such as real estate, music, and art. As digital assets that are indestructible, non-interoperable, indivisible, and verifiable, NFTs cannot be replicated in any shape or form. 
In 2022, brands such as the National Football League (NFL), Nike, Gucci, McDonald’s, Coca-Cola, Louis Vuitton, Burberry, Ray-Ban, Adidas, and Givenchy integrated NFTs into their marketing strategies. 

Commenting on the partnership, Soto-Wright pointed out, “The potential of NFT goes beyond collection; it is the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering.”
MoonPay was founded in 2018 and allows users to buy and sell digital assets using traditional payment methods like mobile wallets (Google Pay and Apple Pay), bank transfers, and credit cards. It also sells its technology to NFT marketplace OpenSea and crypto website, Bitcoin.com.

Despite businessman and celebrity [Elon Musk](/coins/doge) being sued for allegedly misleading people into buying crypto, MoonPay has more than 60 celebrity investors on its balance sheet.
HyperMint will be joining NFT platforms such as LooksRare, Nifty Gateway, and Magic Eden among others. 


MoonPay launches NFT Platform

Since their inception, Non-Fungible Tokens (NFTs) have been seen as a way to create and manage unique digital assets. But many people don't know about NFT collaborations.

Here, we explore some of the ways that [NFT](/news/category/nft-news) collaborations are changing the future of the internet.

## What are NFTs, and do they matter to the future of blockchain technology?

NFTs are a type of digital asset that is unique and cannot be interchanged. NFTs are stored on a blockchain and can represent ownership of assets like property, art, or collectibles.
The key difference between NFTs and other digital assets is that NFTs are not interchangeable. This means that NFTs can be bought, sold, or traded like other assets, but they cannot be replaced by another token.

NFTs are ideal for storing valuable items like property deeds, art, or rare collectibles. They also have the potential to revolutionize the way we collaborate.
By allowing the creation of unique digital assets, a new world of potential NFT collaborations opens up.
The possibilities of NFT collaborations are endless. So far, NFTs have been mostly used to represent ownership of digital items like property or art.
However, the potential applications of NFTs go far beyond that. They could one day be used to create entire virtual worlds or even new economies. The possibilities are limitless.

## Can NFTs be used to create a more collaborative world?

Given the popularity of non-fungible tokens (NFTs), it's no surprise that they are being used in a variety of ways to create new opportunities for collaboration. One of the NFT collaborations is creating digital art collections that can be shared and exchanged between artists and collectors.
This allows for a more direct and transparent exchange of value between creators and their audience. Additionally, NFTs can also be used to create unique experiences that can be shared with others.

For example, one company is using NFT collaborations to create virtual reality (VR) experiences that multiple people can enjoy simultaneously. This type of collaborative experience would not be possible without the use of NFTs.

As more people discover the potential of NFTs, we will likely see even more innovative ways in which they can be used to create new opportunities for collaboration.

## Examples of how NFTs are being used to improve various industries

In the music industry, NFT collaborations are becoming more common. This type of collaboration allows artists to create new and innovative music that can be sold as an NFT.
In the fashion industry, NFTs are being used to create one-of-a-kind fashion items. This allows designers to create truly unique pieces that can be sold for a high price.
In the gaming industry, NFTs are being used to improve game design and development. Developers can use NFTs to create games that are more immersive and interactive.
Finally, in the art world, NFTs are being used to sell and trade artworks such as [Bored Ape](https://boredapeyachtclub.com/). This allows artists to reach a wider audience and sell their art for a higher price.
NFTs are revolutionising the way different industries operate. It is evident that they will continue to do so.

## The challenges to address to make NFTs more successful

For NFTs to be more successful, a few challenges need to be addressed.

One is the lack of NFT collaborations. There are few examples of NFTs working together, making it difficult for NFTs to get exposure and build a following.
This is a chicken-and-egg problem, as NFTs need collaborations to get exposure, but creators are sometimes hesitant to collaborate because they don't want to give up their autonomy. Another challenge is the high transaction fees.

Because NFTs are stored on a blockchain, each transaction incurs fees. This makes NFTs less attractive as a means of exchange since users are often reluctant to pay high fees. Finally, NFTs also suffer from a lack of liquidity.
There are few places to buy and sell NFTs, and the prices can be volatile. This makes it difficult for NFT owners to cash out their investments. It also makes NFTs less appealing as a speculative investment.

These are just examples of the challenges that need to be addressed for NFTs to reach their full potential.


NFT Collaborations and a Better Future

A leading social networking platform, WeChat is reinforcing China’s strict policies for crypto and NFT trading. The platform will be increasing the surveillance on accounts connected with crypto tokens or digital assets. Following the policy change, web WeChat has also banned a few accounts that were involved in trading NFTs.
A crypto reporter, Colin Wu ([@WuBlockchain](https://twitter.com/WuBlockchain/status/1538839036583784448?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1538839036583784448%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fchina-s-wechat-bans-crypto-and-nft-related-accounts)), from Hong Kong, first highlighted the WeChat update. On 20 June 2022, Wu identified the change in its code of conduct section. 

## Web WeChat updated its policy for crypto and NFT trading 

WeChat has updated its terms and conditions for digital assets trading. The platform introduced the policy regarding the prohibition of crypto and NFT trading accounts in the Code of Conduct section.
As per the recent update, any involvement with digital tokens or assets will be against web WeChat’s policies. Now, it will be an offence against the law to trade NFTs and crypto tokens on the platform. 

## Key points from web WeChat update

Here are some of the key points from the WeChat update for the activities related to crypto and NFTs:

1.	Business through cryptocurrencies is prohibited.
2.	Sharing information regarding any transaction involving cryptocurrency is not allowed.
3.	Digital currency derivatives, aka non-fungible tokens trading, are also prohibited.
4.	Digital assets’ secondary transactions will be illegal. 
 
## Crypto activities might lead to ultimate ban from web WeChat

With the current development regarding a [Dogecoin](/coins/doge) investor suing the CEO of spaceX and Tesla, Elon Musk, for $258 billion, and Tech Giants like Bill Gates and Warren Buffet questioning the worth of Bitcoin, web WeChat is enroute to distance itself from the tech.

Now, accounts might face a permanent ban if they are observed to be involved in transactions related to digital currencies and assets. However, in the beginning, the platform will allow users a rectification period and will limit the features of the platform. 

If the user fails to comply with the rules, the account will be permanently banned by WeChat. In addition, the severity of the violation will determine the action web WeChat officials take against the account. As WeChat has over 1.1 billion users in China, this move reiterates China's strict policy against crypto. 

 





Web WeChat to ban users for crypto and NFT trading

If you're a fan of non-fungible tokens (NFTs), you're in for a treat! There are many upcoming Solana NFT projects to watch out for.

## Using Solana for NFTs

Solana is a blockchain with a significant NFT sector. It is considered useful to create a safe and secure environment for artists to sell their work and buyers to complete their purchases.
It also has lower transaction fees than Ethereum.

## About NFTs

Non-fungible tokens (NFTs) are unique digital assets used to represent ownership. Unlike traditional cryptocurrencies, which are fungible and can be exchanged for other currencies or goods, each NFT is unique and cannot be replaced by another token. This makes them ideal for representing digital art, collectibles, or game items.
Recently, the Solana Foundation announced plans to launch a new NFT standard, which will make it easier for developers to create and issue NFTs on the Solana blockchain. This is just one of many upcoming Solana NFT projects that could help boost the adoption of this emerging technology.

## Upcoming Solana NFT Projects

Here are some of the upcoming NFT projects that are being built on Solana:
- [Decenturion](https://www.coingecko.com/en/coins/decenturion): Decenturion is a decentralised autonomous organisation (DAO) that is based on the principles of blockchain democracy. It is one of the first DAOs to utilise NFTs as a means of governance, and it plans to use Solana to issue its own currency, the Decenturion Dollar.
- Aquarius: Aquarius is a platform that allows users to buy, sell, or trade digital collectibles. It plans to utilize Solana to issue NFTs that represent unique collections of digital art, music, and other media.
- DTube: DTube is a decentralised video sharing platform powered by the STEEM blockchain. It plans to migrate to Solana to take advantage of its faster transaction speeds and lower fees.

These are just examples of the many projects that are being built on Solana. With its support for [NFTs](/news/category/nft-news), Solana is quickly becoming one of the most promising platforms for decentralised applications.


Latest Moni

#NFT

Read the latest NFT news.

Fall Out Boy NFT. What Happened?

Ebay Buys KnownOrigin For An Undisclosed Amount

MoonPay launches NFT Platform

NFT Collaborations and a Better Future

Web WeChat to ban users for crypto and NFT trading

Upcoming Solana NFT Projects

SEC crypto chronicles- Gary Gensler affirms BTC as commodity

FTX founder says no talks to buy Robinhood

Bitcoin Scam Instagram: Why this Phrase Matters