CryptoPunk will be split into chunks: Nifty Newsletter, August 3-9

Ethereum co-founder Vitalik Buterin proposed a way to anonymize NFT transactions using smart contracts.

Newsletter

In this week's newsletter, learn about Ethereum co-founder Vitalik Buterin's proposal for ownership of non-fungible stealth tokens (NFTs). Find out how a CryptoPunk will be split into thousands of coins to allow retail investors access to it, and how play-to-earn NFT game Axie Infinity plans to overtake South Korea despite regulatory hurdles. In other news, find out how NFT storage works according to two NFT experts. Finally, find out how a Redditor turned reviews from the NFT space into NFT.

Vitalik Buterin offers stealth addresses for anonymous NFT ownership

Vitalik Buterin, co-founder of Ethereum, has offered what he calls a "low-tech approach" to adding privacy to NFT transactions. According to Buterin, smart contract wallets can add a method for senders to hide their addresses from third parties.

In a tweet, Buterin wrote that, for example, one can send an NFT to an address like vitalik.eth without anyone other than the new owner being able to see where the NFT was sent. However, with this method, senders must have enough Ether (ETH) to pay five to 50 times the fee.

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A slice of punk: CryptoPunk NFT will be split into thousands of pieces

As NFTs become more and more expensive, splitting becomes a solution that allows small investors to have a share of popular NFTs like CryptoPunks. Thanks to a new campaign, a Punk's ownership will be in 56,000 wallet addresses that have signed up for a share.

This effort gives NFT users a chance to participate in a collection of NFTs that were once beyond their reach, but have now become more affordable through splitting. The campaign is facilitated by Unique Network, an NFT infrastructure built on top of Kusama and Polkadot.