17/06/2021 GMO Enters NFT Business Forming a New Joint Venture
The internet giant has partnered with Samurai Partners for the NFT initiative.
Arnab Shome Thursday, 17/06/2021 | 10:51 GMT+2
Japanese flag
Japanese giant GMO has entered the non-fungible token (NFT) business with the establishment of a new joint venture. GMO Financial Holdings is the largest partner in the venture with a 73.46 percent stake while GMO Internet and Samurai Partners hold 12.24 percent and 11.02 percent, respectively.
The official press release published on Wednesday detailed that the Japanese giant will establish an NFT marketplace, called GMO Adam, through joint capital investment. According to the company, its new NFT business will help in âvalue creation and to enhance its corporate valueâ.
Is It a Good Time to Start NFT Business?
The conglomerate entered the NFT space at a time when the market saw a massive demand across spaces, from tech enthusiasts to celebrities. The newly brewed space has witnessed transactions worth billions of dollars over a few months.
However, many viewed the demand as another crypto bubble. Recent data also shows that crypto transactions related to NFTs decreased by 90 percent from the peak. But, the industry still remains promising as many well-known artists are launching their art on NFT markets.
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GMO Adam will leverage the network of Samurai Partners, which is a big name in local manga illustrations, to tap creators to launch their art on the marketplace.
âEntering crypto assets business has enabled GMO Internet to accumulate a customer base, expertise and blockchain technology. GMO Adam will make full use of them and is intended to release its new marketplace that will allow customers to trade NFT,â GMO stated.
GMO entered into the crypto business in 2017 with the launch of a cryptocurrency exchange. In addition, it is focusing on crypto payments, and one of its subsidiaries launched a Japanese yen-pegged stablecoin.
Meanwhile, other established crypto companies are entering the NFT space. Furthermore, Binance and local Japanese crypto exchange, Coincheck have opened their own NFT marketplaces.
Arnab Shome Thursday, 17/06/2021 | 10:51 GMT+2
Japanese flag
Japanese giant GMO has entered the non-fungible token (NFT) business with the establishment of a new joint venture. GMO Financial Holdings is the largest partner in the venture with a 73.46 percent stake while GMO Internet and Samurai Partners hold 12.24 percent and 11.02 percent, respectively.
The official press release published on Wednesday detailed that the Japanese giant will establish an NFT marketplace, called GMO Adam, through joint capital investment. According to the company, its new NFT business will help in âvalue creation and to enhance its corporate valueâ.
Is It a Good Time to Start NFT Business?
The conglomerate entered the NFT space at a time when the market saw a massive demand across spaces, from tech enthusiasts to celebrities. The newly brewed space has witnessed transactions worth billions of dollars over a few months.
However, many viewed the demand as another crypto bubble. Recent data also shows that crypto transactions related to NFTs decreased by 90 percent from the peak. But, the industry still remains promising as many well-known artists are launching their art on NFT markets.
Suggested articles
Get Paid to Learn about Cryptocurrency TradingGo to article >>
GMO Adam will leverage the network of Samurai Partners, which is a big name in local manga illustrations, to tap creators to launch their art on the marketplace.
âEntering crypto assets business has enabled GMO Internet to accumulate a customer base, expertise and blockchain technology. GMO Adam will make full use of them and is intended to release its new marketplace that will allow customers to trade NFT,â GMO stated.
GMO entered into the crypto business in 2017 with the launch of a cryptocurrency exchange. In addition, it is focusing on crypto payments, and one of its subsidiaries launched a Japanese yen-pegged stablecoin.
Meanwhile, other established crypto companies are entering the NFT space. Furthermore, Binance and local Japanese crypto exchange, Coincheck have opened their own NFT marketplaces.
Arts
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Right Place & Right Time (bitcoin hourly price offset)
Each day, a new composition for the Master is generated autonomously using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer. Astute viewers will surmise the day's price volatility simply by examining the artwork.
While the daily image generation is the result of autonomous API calls, utilizing an algorithm the artist wrote, the artist has chosen to retain a control token. This token allows him to fine-tune variables associated with his algorithm, in addition to addressing aesthetic concerns within the life-cycle of the artwork. Layer state, alpha, hue, saturation, and brightness are elements the artist has retained control of in order that this artwork remain a living work-in-progress.
An earlier iteration of this artwork was featured as a nightly projection mapping video on the face of the Daniels Fisher Clocktower, as part of ETH Denver 2020.
Access to this and additional exclusive content awaits the master token owner at the artist's NFT Portal: https://collect.mattkane.com/minted-works/right-place-right-time-bitcoin-hourly-price-offset/
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There are infinite worlds in the Universe with infinite sentient beings inhabiting them.
Master autonomously updates once a day at 12am with one of 366 original artworks, showcasing some of the rarest beings, their cities, transport, technology and nature.
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Good day! I'm Kitty #352568. I want to live in a world where people believe the world is flat. In my free time, I can usually be found despicable or talking about how much I lift. We can be friends, but keep the ultra purrsonal stuff to yourself, please.