Report Wire

Tag: non-fungible tokens

  • Instagram to permit posting NFTs from Ethereum, Polygon, Solana, Flow: Report

    Instagram customers will now have the ability to showcase their blockchain artwork within the type of non-fungible-tokens (NFTs) on the platform, says a brand new report by Coindesk. According to the report, Meta-owned Instagram will combine with Ethereum, Polygon, Solana and Flow blockchain networks to facilitate this. Users should add their crypto wallets resembling Metamask and show their NFT possession earlier than showcasing it on the platform.

    The pilot launch received’t cost customers for posting and sharing an NFT. Initially, Twitter did for its hexagonal NFT profile footage in January. Currently, it isn’t instantly clear whether or not Instagram would assist NFT from all 4 chains at launch. As per the report, Instagram will permit a small group of NFT fanatics based mostly within the US to check the function.

    Earlier in March, Meta Inc. CEO Mark Zuckerberg stated Instagram is exploring plans so as to add NFTs to the platform. “We’re working on bringing NFTs to Instagram in the near term,” stated Zuckerberg whereas talking at a session by Southwest, reported Engadget.

    However, he didn’t make clear how Meta needs to implement NFT to its platforms. “Over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment,” Zuckerberg was quoted as saying by The Verge.

    In January, a Financial Times report stated Meta is exploring plans to permit customers to create, showcase and promote NFTs on Facebook and Instagram.

    Notably, Instagram chief Adam Mosseri stated in December final 12 months that his social community was “actively exploring” NFTs. In an Instagram Q&A posted to his Stories, Mosseri was responding to a query about his ideas on integrating NFTs into Instagram.

    He stated, “Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience.” Before that, Zuckerberg additionally spoke in October about how the metaverse might want to assist “ownership of digital goods or NFTs.”

    Meanwhile, the NFT storm is declining, with fewer trades being locations on NFT marketplaces. According to the info obtained from CryptoSlam NFT tracker, in January the gross sales in NFT plunged to $4.6 billion. By the top of March, the NFT gross sales stood at $2.44 billion, a decline of 53 per cent in NFT gross sales. The information additional exhibits that the variety of distinctive consumers dropped from 9.98 lakhs in January to six.4 lakhs in March and presently stands at 3.81 lakhs for the month of April, a lower of 66.5 per cent distinctive consumers.

  • NFT sector propelled to maneuver round $800 billion by 2024: Coingecko

    Fueled by the rising curiosity in metaverse and gaming, the non-fungible-token (NFT) sector is projected to maneuver round $800 billion by 2024, says a brand new report by crypto market tracker Coingecko. NFT buying and selling quantity hit $5 billion at its peak in August 2021, nevertheless, since then the NFT market has tapered off barely however it’s nonetheless one of many hottest buzzwords on the town and continues to grace headlines.

    According to a survey carried out by CoinGecko, out of the 871 respondents, virtually 72 per cent of them are homeowners of NFTs, with greater than half of them having 5 or extra NFTs. Over 45.2 per cent of the customers from age 18 to 30 personal NFTs adopted intently by 43.6 per cent, between 30 to 50 years previous.

    Metaverse and gaming NFTs are essentially the most owned collections, 35.8 per cent, adopted by a comparatively even cut up between PFPs (27.4 per cent) and Art NFTs (25.3 per cent).

    The survey additional revealed that half of the respondents are ‘HODLing’ the NFTs, believing that the costs of NFTs will growth in close to future. Meanwhile, lower than half of the respondents (43 per cent) have profited from NFT buying and selling, whereas 23 per cent are HODLers by selection with no regard for making income off NFTs.

    Additionally, the report highlights that the 38.5 per cent respondents  cite “Floor Price” as an important for crypto buying and selling. The ground worth is a typical metric used to gauge affordability and potential upside of a set/piece.

    NFT collector are additionally influenced by the rarity index and influencer endorsement to sure extent—30 and 18 per cent respectively. The rarity index ranks an NFT primarily based on how uncommon it’s, making it simpler for customers to decide on the suitable NFT.

    “NFT owners value NFTs that are perceived to deliver the most ‘practical’ value, rather than intangible qualities such as its aesthetics. Recent NFT projects are also trending towards having some form of utility (e.g. exclusive access, future airdrops), instead of being just “onchain JPEGs”, the corporate added.

  • NFT market studying to identify worth over hype, say specialists

    On 13 April, an public sale for an NFT of the primary tweet ever, which was offered for $2.9 million by Twitter co-founder Jack Dorsey in March final 12 months, garnered simply $277 as its highest bid—an enormous drop from its unique value.

    This, in line with specialists, is an indication that NFT patrons are more and more studying to worth these digital belongings appropriately, as an alternative of merely going after web hype.

    “Most NFT creators fall for the hype with out understanding create worth,” said Sidharth Sogani, founder and chief executive of CREBACO, a crypto analysis firm. “They are too focused on the price,” he added.

    “There have been greater than 6,000 NFT tasks. There have been so many NFT choices and other people have invested giant quantities, however they’ve managed to promote lower than 10-15% of generic NFTs. They simply flip it to extend costs,” he famous.

    Sogani isn’t the one one to identify this pattern. Tosehndra Sharma, founder and chief govt officer of NFTically, which presents software-as-a-service for companies to arrange their very own NFT marketplaces, stated the “actual worth is displaying available in the market” now.

    View Full Image

    Mint  

    According to blockchain evaluation agency Chainalysis, 110 NFT wash merchants collectively made practically $8.9 million in income final 12 months. Such actions might be troublesome because the market learns to acknowledge true worth. Chainalysis defines “wash buying and selling” as a transaction the place the vendor is current on each side of the commerce in an try to create a deceptive image of an asset’s worth and liquidity.

    “The hype interval is gone. Going ahead, no funding will occur based mostly on hype,” Sharma stated, noting that investments in NFT startups may also cut back consequently.

    The hype round NFTs has helped startups increase hundreds of thousands in funds. According to funding monitoring agency Venture Intelligence, VCs invested $520 million in Web3 startups in 31 offers in 2021. In 2022, they’ve already invested $522 million in 20 offers to date.

    Though the jury remains to be out on the variety of NFT house owners in India, it’s believed to be rising, given the big person base of cryptos within the nation and the hype generated by cricket and Bollywood NFTs. For occasion, final November, the public sale of an NFT assortment of veteran Bollywood actor Amitabh Bachchan’s father’s poems and film posters fetched $9,66,000 (approx ₹73 crore).

    To make certain, startups are conscious of this modification available in the market, too. For occasion, giant corporations similar to MakeMyTrip and MG Motor India offered NFTs over the previous 4 months utilizing fiat currencies as an alternative of cryptocurrencies. They did so utilizing a platform known as nGageN created by homegrown blockchain agency KoineArth.

    Alternatively, crypto trade WazirX’s NFT market began permitting creators to submit collections as an alternative of singular NFTs, since March. The firm calls these “nano-NFTs” and the thought is to permit creators to construct a group round their artworks, music, and many others., as an alternative of promoting one NFT at a time.

    Sandesh B. Suvarna, vp, WazirX NFT Marketplace, famous that globally NFT 10K tasks similar to Cryptopunks and Bored Ape Yacht Club (BAYC) have been probably the most profitable, however such tasks normally require creators to spend on creating their very own infrastructure, and the nano-NFT initiative hopes to supply that infrastructure to creators.

    The so-called 10K tasks are these the place the creators launch a complete host of NFTs and construct a group round them. Such tasks have been capable of associate with manufacturers for NFT-related advertising actions too similar to BAYC’s partnership with footwear model Adidas final 12 months. BAYC and Cryptopunks, each of which encompass a line of digital avatars, rank among the many most precious NFT tasks globally, in line with information from blockchain monitoring agency DappRadar. Not everyone seems to be satisfied that the market is altering. Prashant Garg, associate and know-how guide at EY, stated it is likely to be too early to name this a pattern simply but.

    “What has occurred right here is that the perceived worth of an NFT hasn’t turned out to be true. What this may occasionally do is that NFT lovers might be cautious as they put money into belongings of low utility and perceived worth similar to cool cat or BAYC,” added Garg.

    With inputs from Prasid Banerjee.

    Subscribe to Mint Newsletters

    * Enter a sound e mail

    * Thank you for subscribing to our publication.

  • Tax implications of minting NFTs

    What is the distinction between the portray of Mona Lisa displayed on the Louvre and its duplicate offered at numerous reward retailers? Authenticity. While copies of the portray may be simply printed from the web, the worth of the unique solely appears to understand over time. The authentic bodily portray can simply be recognized among the many copies by conducting a bodily examination. But the identical can’t be stated for digital artwork.

    Digital artwork may be within the type of an image, a graphic, music or video. For many years now, artist everywhere in the world, struggled with onslaught of piracy and, again and again problems with digital authenticity had been raised. The query was easy methods to set up proof of possession of content material saved digitally.

    Non fungible tokens (NFTs) signify an possession curiosity in any tangible or intangible asset. It contains a singular and non-interchangeable unit of information saved such that the unique asset may be simply recognized. This offers the proprietor with proof of possession and allows the artist to digitally switch this possession on-line in a protected and safe method.

    The finance ministry vide Finance Act 2022, launched the time period ‘virtual digital asset’, the definition of which incorporates non-fungible tokens. As per the modification, a digital artist who transfers his digital artwork by an NFT route is unreasonably taxed at a a lot larger charge as in comparison with different artists.

    In the following paras, we’ve got in contrast the taxability of a digital artist who sells his artwork by minting it as an NFT with every other artist.

    Computation of taxable revenue

    Generally, revenue obtained by artist are thought of to be skilled charges taxable beneath the top ‘income from business and profession’. Under this head, taxable revenue is decided after deduction of bills incurred for producing that revenue.

    However, in case of NFT’s, even in case you are minting NFTs as an expert, its switch will likely be thought of to be revenue from switch of digital belongings and computation of revenue will likely be as per the provisions of part 115BBH of the Act.

    View Full Image

    NFT taxation

    Non-deductibility of bills

    Apart from the time and assets required for creating digital artwork, minting that artwork to create NFT, is a course of by itself. This includes creating crypto pockets for transaction and discovering your required market place. There may additionally be prices related to firing up your account, itemizing an NFT, and transacting on the platform.

    Under the modification, no deduction in respect of any expenditure (aside from value of acquisition) is allowed whereas calculating taxable revenue. Since these NFTs are self-generated, the tax division could take an aggressive view that the price of acquisition of such belongings are Nil and tax is leviable on your entire consideration.

    Non-applicability of Section 44ADA

    Generally, professionals, whose gross receipts are under ₹50 lakh have the choice to compute their earnings on presumptive foundation. Under part 44ADA, 50% of the gross receipts are deemed to be the earnings and the taxpayer will not be required to keep up any books of accounts.

    However, as per the modification, this part is not going to be relevant to creators of NFTs. Accordingly, regardless of the quantity of gross receipts, your entire gross receipts could also be thought of taxable by the tax division.

    Tax Rate

    Now that we’ve got mentioned the revenue that’s taxable, let’s focus on the tax charge at which NFTs are taxable. Income {of professional} people are typically taxed on the prescribed slab charges. However, revenue from switch of NFTs are to be taxed at a flat charge of 30%.

    This implies that even when, the worth of the NFT offered is lower than INR 2,50,000, which is the essential exemption restrict, revenue tax @30% (excluding surcharge and cess) is payable on switch of NFTs.

    Recently, Meta CEO introduced his plans to deliver NFTs to Instagram and this could present numerous alternatives to artist in India. However, given the unstable and unregulated nature of cryptocurrencies, that are integral to NFT’s, the federal government appears to be discouraging its use. Though, there was a number of debate about taxability of NFTs and stakeholders of cryptocurrency are urging the federal government to rethink the modification. As artists, it could be prudent to deposit the relevant taxes prematurely in order to keep away from cost of any extra curiosity.

    (The article is written by Neeraj Agarwala, companion, Nangia Andersen LLP, with inputs from Neetu Brahma.)

    Subscribe to Mint Newsletters

    * Enter a legitimate e-mail

    * Thank you for subscribing to our publication.

  • NFTs on Instagram? What Mark Zuckerberg says

    Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg confirmed that the corporate is constructing the technical performance in order that customers can show their NFTs on Instagram and even “mint” some NFTs inside the app, as per Bloomberg report.

    “We’re engaged on bringing NFTs to Instagram within the close to time period,” he stated throughout an interview on the South by Southwest convention Tuesday, however declined to share specifics on when and the way the function may work. Zuckerberg spent many of the practically 50-minute lengthy dialog speaking concerning the so-called metaverse, his imaginative and prescient for a extra immersive model of the web.

    Former Meta govt David Marcus stated final August that the corporate was wanting into constructing NFT options alongside the corporate’s Novi digital pockets. At the SXSW convention, held in Austin, Texas, Zuckerberg additionally mentioned the battle in Ukraine, calling it “massively destabilizing world occasion” — his first public feedback because the battle started final month, the Bloomberg report stated.

    According to The Verge, simply final yr, Instagram lead Adam Mosseri stated the group was “actively exploring NFTs” however did not have any precise bulletins. In January, we heard a report that groups at Facebook and Instagram had been engaged on NFT integrations. The report talked about that there was progress on options to allow you to use an NFT as a profile and mint NFTs on the platform and discussions round making a market.

    Instagram will not be the primary main social community with an NFT integration. Earlier this yr, Twitter launched a function that permit some customers set an NFT they personal as their profile image. They then present up as hexagons, and anybody can click on by way of to see the NFT’s metadata. Given how typically TikTok options find yourself with a close to carbon-copy on Instagram, it would not be stunning to see Meta’s photo-sharing (er, “entertainment”) app do one thing comparable.

     

    Subscribe to Mint Newsletters

    * Enter a legitimate electronic mail

    * Thank you for subscribing to our e-newsletter.

    Never miss a narrative! Stay linked and knowledgeable with Mint.
    Download
    our App Now!!

  • Universal Music label acquires ape NFT to guide digital music group

    Universal Music Group is capitalizing on the recognition of non-fungible tokens by buying one of many cartoon apes which have taken the world of digital collectibles by storm to guide a completely digital music group.

    On Friday, Universal’s 10:22PM label stated it paid $360,817 to buy Bored Ape #5537 – a feminine character now often called Manager Noët All, to guide the group it based in November known as Kingship.

    Kingship, which exists solely in digital kind, may have its personal web site and presence on messaging platform Discord, and can finally produce new music and provides digital performances within the metaverse, a unfastened time period generally used to explain a spot the place the bodily and digital worlds meet. Like Manager Noët All, all of the band members are NFTs – three Bored Apes and a Mutant Ape, on mortgage from collector Jim McNelis.

    “For it to become part of culture, I think that would be an amazing thing,” stated McNelis.

    The concept of making digital bands from digital characters is just not a brand new one. Gorillaz, a digital band fashioned in 1998 by musician Damon Albarn and comedian artist Jamie Hewlett, launched seven albums on Warner Music Group’s Parlophone label. One of Japan’s pop stars, Hatsune Miku, is a hologram.

    For Kingship, Universal’s 10:22PM label sought out one of many best-known NFT collections on the blockchain, the Bored Ape Yacht Club, comprised of 10,000 anthropomorphic apes, every with distinct clothes, fur and expressions.

    Bored Apes have change into a standing image for celebrities, with buyers together with “The Tonight Show” host Jimmy Fallon, pop star Justin Bieber, NBA famous person Steph Curry and billionaire investor Mark Cuban.

    For Universal Music, Kingship presents a possibility to learn to create characters and tales that generate pleasure within the metaverse.

    “It’s about understanding the ethos of the space,” stated 10:22PM founder Celine Joshua, whose label serves as a laboratory for experimenting with new types of leisure.

  • BAYC NFT costs shoot up by 18 per cent, after buying CryptoPunks, Meebits

    Days after Bored Ape Yacht Club (BAYC) non-fungible-token (NFT) creators introduced acquisition of NFT assortment CryptoPunks and Meebits from Larva Labs, the ape avatar assortment have soared in value by over 18 p.c.

    On March 11, when the Yuga Labs, creators of BAYC NFTs introduced the acquisition, a single piece of BAYC NFT was being offered at $1,85,363 (roughly Rs 1.41 crores) or 73 Ethereum in cryptocurrency. However, after the announcement the value soared to 89 Ethereum which is $22,5991 (roughly Rs 1.72 crores), in accordance with CoinGecko market cap tracker.

    Yuga Labs now owns 423 CryptoPunks and 1711 Meebits. For the uninitiated, BAYC is a well-liked assortment of 10,000 distinctive bored NFT apes created by Yuga Labs. It has generated greater than $1 billion in whole gross sales amid celebrities flocking into the NFT bandwagon.

    Bored Apes and CryptoPunks NFT collections are probably the most offered NFTs. Both the collections maintain a mixed value at a minimal of some $3.6 billion at present costs. “We’ve long admired CryptoPunks, and the work of the project’s founders, Matt & John. They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga,” a tweet from the Yuga Labs Twitter account reads.

    Meanwhile, this acquisition doesn’t imply that co-founders of CryptoPunks and Meebits are becoming a member of Yuga. They’re going to proceed operating Larva Labs and can preserve doing what they’re doing.

    BAYC NFT is owned by well-known celebrities, akin to basketball icon Steph Curry, music artist Post Malone, and even American TV host Jimmy Fallon. More not too long ago, rap artist Eminem is the newest to leap into the NFT craze along with his first BAYC buy that price 123.45 Ether value $452,000 (Rs 3.36 crore approx.).

    Earlier, in December, somebody mistakenly offered a BAYC NFT value Rs 2.27 crore for Rs 2.27 lakh. The NFT offered for $3,000 was purported to be listed for 75 Ethereum (ETH) about $300,000. However, the proprietor of the NFT, who goes by the username maxnaut, ended up with a typo error and entered a list value of 0.75 ETH moderately than 75 ETH.

  • Ukraine to launch an NFT assortment depicting Russian-Ukrainian struggle

    The Ukrainian Government stated it should launch a non-fungible-token (NFT) assortment to inform the story of its Russia’s invasion. Alex Boryakov, the nation’s deputy minister of digital transformation instructed The Guardian that the gathering can be “like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format.”

    For the uninitiated, NFTs are any digital objects reminiscent of drawing, portray, music, GIF, and many others., which are recorded on a Blockchain distributed database. NFTs are immutable, that means that when uploaded they can’t be modified or edited.

    Bornyakov stated every NFT artwork would signify a narrative from the struggle. Every piece of artwork can be backed with a dependable information supply. “We want it to be cool, good-looking, and it takes time,” he instructed The Guardian.

    According to information collated by Merkle Science, Ukraine has already obtained over $88 million in cryptocurrency donations alone, and the federal government at the moment has about $7 million in Ethereum in its pockets. The Ukrainian authorities has been asking for monetary assist in cryptocurrency reminiscent of Bitcoin, Ethereum, Tether, and Polkadot, Dogecoin, TRON, Solana, and in NFTs.

    In a tweet on March 11, Boryakov defined that the crypto funds obtained are getting used to purchase goggles, optics, helmets, bulletproof vests. Atleast 5500 bulletproof launches, 500 ballistic plates, 3,427 medicines, 60 walkie talkies, 410,000 packed lunches, 3,125 thermal imager and 500 helmets have been purchased utilizing the cryptocurrency donations obtained globally.

    Earlier this week, the Bored Ape Yacht Club (BAYC) NFT assortment introduced that it has donated $1 million in cryptocurrency Ethereum to Ukraine’s official crypto pockets deal with. In a tweet, BAYC’s official deal with stated: “It’s been inspiring seeing our community come together in support of Ukraine – almost $1m in ETH has been donated to Ukraine by wallets containing a BAYC ecosystem NFT. Today we’re matching that with a $1m ETH donation of our own.”

    BAYC NFT is owned by well-known celebrities, reminiscent of basketball icon Steph Curry, music artist Post Malone, and even American TV host Jimmy Fallon. More just lately, rap artist Eminem is the newest to leap into the NFT craze together with his first BAYC buy that price 123.45 Ether value $452,000 (Rs 3.36 crore approx.)

    Meanwhile, cryptocurrency pockets Metamask and NFT market OpenSea are banning all accounts based mostly within the sanctioned nations by the US authorities. This growth comes because the US and its allies imposed sanctions on Russia following Moscow’s invasion of Ukraine.

  • Remember LimeWire? Shuttered file-sharing service is again with NFTs

    File-sharing service LimeWire, which shut down in 2011 below fireplace from the music trade, is making a comeback as a digital collectibles market for artwork and leisure, initially specializing in music. Launched in 2000, LimeWire turned the world’s greatest outlet for individuals to share music, motion pictures, and TV reveals freed from cost over the web, attracting 50 million month-to-month customers at its peak reputation.

    Blaming piracy as one of many principal causes for declining music gross sales, file firms sued LimeWire in 2006, forcing it to close down 5 years later. But now LimeWire plans to leap on the most recent web bandwagon: NFTs.

    A non-fungible token (NFT) is a crypto asset which makes use of blockchain to file who owns a digital file comparable to a picture or video. While NFTs would permit artists and musicians to have extra management over digital copies of their work — repairing the harm brought on by unlawful streaming — the nascent market is rife with scams, fraud and market manipulation.

    It was a posh course of for the brand new workforce – led by co-CEOs Paul Zehetmayr and Julian Zehetmayr – to personal LimeWire mental properties after 12 years of inactivity.

    LimeWire mentioned it can associate with the music trade and the artists, who can promote pre-release music, unreleased demos, graphical paintings, unique dwell variations, in addition to digital merchandise and backstage content material.

    The new LimeWire workforce, unfold over Austria, Germany and the UK, plans to launch the service in May that may permit music followers and collectors to purchase and commerce a wide range of music-related property.

    “We want to open up the gates for small, medium and big artists with a lot of moderation and curation,” Zehetmayr mentioned.

    It plans to surrender to 90% of the income to the artists and seeking to onboard a million customers inside the first yr.

    “LimeWire kind of laid the foundation for music streaming … it’s a piece of internet legacy and we are thankful that we can turn it around at something for the music industry,” Zehetmayr mentioned.

  • 15 per cent of the NFT dialog in India comes from girls: Twitter

    Twitter has grow to be a go-to place for crypto fanatics to interact in studying and discussing, all vital occasions occurring within the crypto world. Non-fungible-tokens (NFTs) are a brand new burning curiosity on the microblogging platform, with NFT dialog rising by 3000 per cent in India in January alone.

    According to Twitter, not less than 375 million tweets have been despatched out on NFTs globally. Notably, 15 per cent of the dialog in India comes from girls. The most Tweeted hashtags amongst NFT conversations on Twitter are:#NFT #NFTs, #NFTgiveaway, #NFTcommunity, #NFTart, #NFTcollector.

    The knowledge shared by Twitter reveals that globally, practically 40 per cent of girls have by no means heard of NFTs, 26 per cent girls imagine that NFTs generally is a profitable funding, 25 per cent see it as a chance for exclusivity and to help impartial artists, and 24 per cent of girls assume NFTs are a great way for manufacturers to share new and unique content material.

    Twitter notes that a number of Indian girls NFT artists are taking the lead in bringing extra fellow girls into the fold of this rising dialog.

    Akanksha Badaya (@art_lover_09), a licensed graphic designer from Jaipur, who has been engaged on a mixture of digital and conventional artwork. She believes that Web 3 is the longer term and that, by NFTs, her artwork can attain a wider viewers. “My NFT journey started when I came across people sharing their NFTs on Twitter. That got me intrigued to know more about the space and research about it. I attended a few Twitter Spaces that helped me gain knowledge about the background of NFTs. To all the women artists aspiring to be part of the NFT community, it’s important to be original and confident about your work. Also, interact and connect with fellow artists.”

    To amplify the work and tales of girls, some NFT artists, together with Akanksha, might be serving to to launch Twitter’s first ever international female-led NFT Community known as – ‘Women in NFTs’.

    The platform, believes that the rising curiosity in NFTs presents the necessity to deal with misconceptions and doubts—22 per cent imagine NFTs are just for wealthy individuals and 15 per cent imagine NFTs will devalue bodily artwork—thus, the objective of the Community “will be to create a safe space for women to share and get information, create connections and support each other,” Twitter added.

    Twitter in a press launch added that “it’s open and conversational nature is enabling women to participate in this growing community of NFTs and own the conversations,” highlighting that ladies are leaning “into the conversation and are ready to #OwnIt.” The #OwnIt Twitter emoji (woven spark), as per Twitter, symbolises “the interweaving of different intersections, and as the spark spirals outwards from the center it encourages both individual and collective action from women.”

    “We’re super charged to see women become such an active part of the NFT conversation on Twitter and #OwnIt. At Twitter, our purpose is to enable open public conversations and we’re thrilled about how more women are increasingly making the most of the service to not only become aware, but also become empowered through their own creations. We’ve got a lot of exciting stuff planned to fuel the spirit of female NFT creators, and can’t wait to see this conversation become more inclusive,” stated Cheryl-Ann Couto, Head of Partners at Twitter India.