Reddit NFT Trading Volume Hits All-Time High: Nifty Newsletter October 19-25, 2022

Apple first released rules for NFTs that included a 30% NFT "tax" and geo-limiting trades.

Newsletter

In this week's newsletter, learn how Apple released its first-ever set of rules for non-fungible tokens (NFTs), including a 30% "tax" and limits on how NFTs can be bought and traded. Learn how NFTs have the potential to change museum experiences in the future and how OpenSea revised its NFT rarity ranking protocol after community feedback. In other news, find out how NFTs are being used to democratize scheduled TV programming in the age of Web3. Finally, the volume of NFT transactions on Reddit reached an all-time high with nearly 3 million wallet holders.

New Apple Rules Double NFT 'Tax' to 30% and Geo Boundary Trades

Big Tech company Apple has released new rules for its App Store regarding NFTs and cryptocurrency exchanges. This is the first time the company has specified rules for NFTs specifically.

These new guidelines dictate many crypto-related activities, including taxation of NFT purchases, how they can and cannot be used, and rules on when a crypto exchange app can be listed in the App Store.

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Will the museums of the future be just giant NFT galleries?

Recent developments in the NFT scene have seen celebrities, brands and major institutions such as museums reinvent themselves for consumers. Museums, in particular, have used technology to verify collections and even fundraise.

Speaking to Cointelegraph, Hussein Hallak, Founder and CEO of Next Decentrum Technologies, helped answer the question of whether museums will become giant NFT galleries in the future and how ownership really works in a such scenario.

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OpenSea Revises NFT Rarity Ranking Protocol After Community Feedback

The Twitter community has called on OpenSea to solve several issues related to OpenRarity, the new rarity ranking protocol implemented in the NFT market...