21/06/2021 GMO Enters NFT Business Forming a New Joint Venture
The internet giant has partnered with Samurai Partners for the NFT initiative. 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 ‘value creation and to enhance its corporate value’. 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. 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. “Entering 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,” 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.
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Interesting NFTs
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan.
The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body.
The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results.
That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
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Artist notes: the halving ceremony is the most unusual part of modern bitcoin production in which the owners bet on how efficiently an alpha can inseminate the market.
Auto-Erotic Sphinx with Toys
In this image, a giant sphinx spoons itself in erotic play within an aquatic styled environment littered by various denizens. These creatures include symbols and archetypes both current and nostalgic–each inhabiting a rootedness within mass cultural adolescence. Among the roster are Servbots, video game inspired mushrooms, a Pacman-like creature, a distant sea faring rubber duck, creatures sporting the symbols reminiscent of popular anime, and a Pokemon-like rabbit (a novel incarnation of Ganesha indicated by the Shiva trident on its nose). In addition, a few sea creatures partly inspired by sea monsters of western antiquity conglomerate along the mid left side of the composition. The Sphinx itself is an amalgam of aquatic, fetishist, ancient Egyptian, and 80’s style adornments, both living, as in a clown fish, or material, such as a cassette tape. Nautically colored antennae receive somatic signals from the atmosphere, perhaps from the 8 Ball moon or giant ringed planet beyond.
Snaggle-Tooth Tiger
Aloha! My name's Snaggle-Tooth Tiger. I once peed on Martin Luther King Jr.'s cat. They had it coming. Sometimes I daydream of a life full of hitting on yo' man, salad, and talking about how much I lift. I think you'll love me beclaws I have cattitude.