Itâs been interesting again lately as the market has been mostly green. We did find the first NFT on the Ethereum blockchain and this time, the title isnât likely to go away. Visa launched itâs Universal Payments Channel concept on the Ropsten testnet. TikTok decided to launch itâs first ever NFT collection on Ethereum and Societe Generale refinanced itâs Maker DAO loans. Letâs delve in.
First NFTs On The Ethereum Blockchain Terra Nullius?
Whatâs the first NFT on the Ethereum blockchain? The previous title holder was the digital real estate or land NFT Etheria. But, it seems that thereâs a new contender, depending on your definition of what constitutes an NFT, that is. Famous NFT archaelogist Adam McBride announced on Sep 28 that his team has found the new contender for the first ever NFT on Ethereum. Enter Terra Nullius.
Terra Nullius (from Latin: Nobodyâs Land) was deployed on Aug 07, 2017. If we can accept to this new definition of NFTs, that would make it almost 2.5 months earlier than Etheriaâs 21 Oct, 2015 deployment. But, there is a problem. The actual contract doesnât have a transfer ownership function, but allows users to âstake their claimâ on the blockchain by binding messages on blocks.
To make things worse, the original contract doesnât even have any limit and anyone can mint as much as they want, which would essentially make it worthless, except for certain special cases. However, the new âwrapperâ allows the original âstakes or claimsâ to be traded on OpenSea and imposes an artificial limit of 4000 claims.
Would you consider it an NFT? How far should we allow the wrapper to modify the properties of the original contract? Well, itâs a long debate and we leave it for you to decide. As for the community, it doesnât seem to be convinced, since even general transactions on the Ethereum blockchain can include messages. Nevertheless, itâs an interesting find.
Visa Launches Universal Payments Channel On Ropsten
The worldâs largest payment processor Visa has launched on Ethereumâs testnet. On Sep 30, it was announced that Visa is now testing a concept called âUniversal Payments Channelâ on Ropsten testnet. Itâs aimed at allowing the future expect Central Bank Digital Currencies (CBDCs) to be interoperable with each other and being allowed to be used through one interface. Visa is a significant multi national player and this gives new credibility to Ethereumâs vision of becoming the global settlement layer.
SociĂ©tĂ© GĂ©nĂ©rale Refinances Itâs Bonds On Maker DAO
SociĂ©tĂ© GĂ©nĂ©rale - the third largest French bank also announced on Sep 30 that it was refinancing itâs OFH security tokens issued last year for a total of $20M on the Ethereum blockchain through the Maker DAO protocol. They submitted a collateral onboarding application, which if approved, will allow the protocolâs DAI to be backed by security tokens. Itâs a significant development, considering that it allows the traditional finance and itâs decentralized counterpart to work together.
TikTok Launches NFT Collection On Immutable X
TikTok â the popular video sharing focused social networking service announced on Sept 30 that itâs launching âpopular momentsâ based NFT collection on Ethereum L2 solution Immutable X. Itâs worth noting here that TikTok has an extremely high following among the young crowd. They recently crossed over 1B monthly users in traffic. The collection titled âTikTok Top Momentsâ hasnât been released yet. On the other hand, they will be available for sale once they goes live here. This is BIG NEWS because this will introduce 1B+ TikTok users to the world of NFTs mostly found on Ethereum. This happens by granting the nascent field legitimacy and approval as part of the culture and the latest trend.
Thatâs it from our side, letâs see you next week with more interesting happenings from the crypto industry. To stay updated, visit our website. Or join our Twitter and Telegram - News, Crypto Talk & Blockchain Gaming and Trading Central. Want to get an edge in crypto trading and profit generation? Consider, subscribing to our premium plan.
Come to see our Terra Nullius collection
https://opensea.io/collection/terra-nullius