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NFTs Surge in Late Summer, New Player Enters Focused On Accessibility

Non-fungible tokens (NFTs) have returned to the fintech spotlight after seeing a bit of a lull in recent months as trading surged by orders of magnitude in August. According to recent data from Dune Analytics and provided by MarketWatch, Ethereum-based transactions on OpenSea, the biggest NFT marketplace running, totaled a whopping $3.4 billion last month; this represents a tenfold increase over July, it noted.

ethereum 3660218 1920NFTs, which are non-interchangeable digital assets stored on a blockchain, come in all sorts of shapes and sizes. Sometimes they represent artwork, other times video files, and in other instances they can even represent items in online games.

The space is becoming increasingly populated by everyone from art collectors to professional athletes with many hoping to generate mainstream interest. And just as the NFT market has enjoyed a recent surge in attention and spending, a new player has entered the arena looking to do just that. Sm-ART NFT announced a new platform aimed at disrupting the emerging high-end art market by making top-tier NFT items accessible to investors of every kind.

“Sm-ART NFT is the first platform of its kind which allows anyone, including the small investor, to buy, sell and take advantage of part ownership of fine art masterpieces, sculptures and luxury jewellery as well as limited editions and one-of-a-kind items through blockchain ownership using dual blockchain protocols,” according to the announcement.

According to the company, the assets are fractionalized on the ERC20 protocol. “Owning fine art and luxury jewellery outright is out of many people’s reach, but with Sm-ART NFT, anyone with an interest in art and investments can experience the joy of having ownership in a masterpiece,” Danny Sangha, co-founder and CTO of Sm-ART NFT , said in a statement. “In creating Sm-ART NFT, we wanted to open up an opportunity for people to make beautiful investments—not only in terms of financial appreciation, but also in terms of co-owning something visually stunning.”

From Twitter

Tommy Wilson @tommy_wilson_

"Got some of the boys on the team to start dabbling in crypto, fun to see them winning. Next challenge is to get them a Metamask and starting minting/collecting NFT’s"

Among some of the items available for trading include photography from Gabriel Dean Roberts, artwork from Pasquale Cuppari and a watch from Patek Philippe Nautilus, according to the platform.

As the emerging industry finds its footing among industry elites and small investors alike, there will undoubtedly be a good deal of regulatory hemming and hawing, as well as some deep thought from key players about how to proceed in the market. For example, The Athletic recently noted that the NFL has privately told its teams that they will be prohibited from selling sponsorships to crypto trading firms. They will also be prohibited from selling NFTs, at least for now, as the league figures out a long-term strategy.

From Twitter

Dez Bryant @DezBryant

"The NFL is banning NFTs for all clubs, Athlete understand how this can benefit you. I’ve created a #blueprint that I want to share. Tap in and see how NFTs hold the power to create a lasting legacy and provide ownership for you. Don’t get left behind, this is the future. https://twitter.com/i/status/1435045082604965889"

The article also points out that NFL has been traditionally conservative and cautious with new marketing concepts, and other leagues have been a little quicker to adopt emerging ideas. For now, the NFT space will continue to evolve as institutions and investors decide how, and if, they want to engage.

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