As we spend a larger portion of our lives online, bridging the physical and digital worlds becomes increasingly important.” The NFTs most people have heard about are for digital assets. “It also adds a completely new dimension to NFTs. For example, we give brands skin-in-the-game in secondary-market trading,” said Richard Li, CEO of 4K. “4K adds completely new dimensions to the market for collectibles and luxury items. If owners decide to save the NFT, they can return it in exchange for the physical item. Owners receive an NFT representing the item’s value, authenticity, and ownership that can be used as collateral to take out a decentralized finance loan or sell. Customers send their assets to a storage facility where it’s insured and authenticators determine its value. The website will only market items that have been previously authenticated. However, this process takes time and adds significant cost.ĤK’s solution is going one step further in addressing these concerns. Some platforms are tackling this issue by putting a layer of authenticators after the product is sold and before it reaches the buyer. Buyers can’t tell whether an item is in good condition or authentic from the pictures, and the website is not liable for false advertisement. Marketplaces such as eBay pose several issues for people looking to buy and sell high value items. The platform looks to combine physical items with non-fungible token ( NFT) technology to create an eBay-like marketplace for luxury items. Rarify is backed by leading investors, including Pantera Capital, Greycroft, Eniac Ventures, Circle, and others.Luxury goods blockchain-based marketplace 4K announced a $3 million round of funding led by Electric Capital, Crosscut Ventures, Colab+Currency, ConsenSys and IDEO CoLab Ventures. With a mission to significantly lower the barrier to entry for NFT technology and enable companies to fully participate in the new digital economy, Rarify’s API solutions are designed to improve market intelligence so that businesses and traders alike can understand the performance and history of NFT collections and individual items. “We are honored to work with the BitGo team and help them provide unique NFT analytical insight to their clients.” Our Data API enables developers to build with ease and empowers users to make smarter decisions,” said Lasha Antadze, Co-founder, Rarify. Without these data points easily at hand, it’s challenging to make key decisions such as investment and appraisal. “We understand that NFT data is the foundation for anyone trying to build in Web3. Rarify provides holistic indexing of the leading NFT marketplaces and this partnership allows BitGo to provide our clients with the most secure and robust NFT solutions on the market,” said Joe Kinney, Product Manager at BitGo. “It’s essential to strengthen BitGo’s Wallet offering with metadata and insights for NFTs. Marketing Technology News: Boosted Commerce Announces Key Executive Hire, Martin Dunstheimer, Former CFO of TOMS Rarify’s Data API leverages data from multiple marketplaces and DEXs, aggregating all metadata for various tokens across different standards and converting that data into actionable insights for NFT holders and helping them make more informed decisions on their assets. Through Rarify’s Data API, developers and investors are able to access the most accurate data on any given NFT’s pricing history, ownership history, trade performance, volume, and authenticity across all marketplaces on the Ethereum and Polygon protocols. Rarify, an API-based NFT infrastructure provider that enables companies to easily introduce NFT natively in their platforms, announced a partnership with BitGo, the leader in digital asset custody, liquidity and security solutions to provide BitGo’s 700 institutional clients with access to valuable NFT analytics by leveraging Rarify’s Data API solutions. Strategic Partnership Leverages Rarify’s Data API to Strengthen BitGo’s First-of-its-Kind NFT Wallet Solution
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