NFTs in the world of Crops, Genetics, and Hollywood

The market capitalization of non-fungible tokens (NFTs) has surpassed USD 2.5 Billion in the first half of 2021, and a variety of initiatives are ongoing to expand NFTs to genetics, push non-fungibles in Hollywood, and utilize the innovation to simplify grain trade, among several other things.

Harvard Medical School genetics professor George Church will auction off his genome as an NFT on the first of that kind occasion, opening the door for the technology's wider usage in genetics. Church, who developed the first direct genomic sequence technology in 1984, will process one of the first genomes ever sequenced. Church told The Scientist that the sale would be done through Nebula Genomics, a business he co-founded.

A blockchain firm in Switzerland has tested the deployment of technology that will enable the grain to be exchanged utilizing virtual currencies. As per Filipe Pohlmann Gonzaga, CEO of Cerealia SA in Pully, Switzerland, the business produced an NFT supported by 30k metric tons of Mexican white corn. Mercanta provided the token for grain held at the Triple T terminal, both of which are controlled by Grupo Ceres in Mexico.

Token transactions might help reduce the documentation and expenses involved with many grain sales that occur over the counter. Trade houses and other grain owners may create tokens for their supplies, which can then be sold on Cerealia's blockchain platform, eliminating the need for conventional documentation, which currently underlies the majority of commodities transactions.

In a telephonic conversation, Pohlmann stated, "The token could be readily traded." It also allows hedging funds, financial institutions, and other stakeholders to participate in trade.

A new crop trading company in Switzerland has launched. Cerealia is experimenting with a system that will allow the grain to be traded using non-fungibles. As per Bloomberg, the business has established a token backed by 30k tons of corn with the goal of lowering prices and improving supply chain traceability.

Another effort by online marketplace Rarible, Metaversal, and AdVenture Media was aimed to popularize NFTs by dispersing them to 25 of the 115 nominees in this year's event, which was set for April 26.

Twenty-five Hollywood insiders received three non-fungibles apiece as part of the project, per Nomine (eth). The identities of those nominated in their individual category will be engraved on the tokens, which will feature the best actor, best actress, best supporting actor, best supporting actress, and best director.

An NFT produced in honor of the late American actor Chadwick Boseman, best known for his portrayal as the Black Panther in the 2018 blockbuster film, is among the works. The money from the Boseman tribute NFT will go to the Colon Cancer Foundation in New York.

In addition, Project Ark, a platform for unique digital artifacts founded by Genentech start-up Carbonbase and the World Wildlife Fund's Panda Labs division, unveiled a collaboration with HiVive Agency to offer NFTs to Oscar candidates, with revenues benefiting the Panda Labs. Celebrities will be able to interact with 3D representations of exotic species, and film recordings will be turned into NFTs that can be purchased.

Furthermore, Grammy-nominated singer Steve Aoki and digital artist Maciej Kuciara have collaborated with Tom Bilyeu of Impact Theory Studios to create Neon Future by Steve Aoki x Maciej Kuciara, a hybrid art and music NFT collection inspired by Aoki and Bilyeu's Neon Future sci-fi comic book. On April 27, the compilation was released on the NFT platform Nifty Gateway, combining 2D anime graphics and 3D technologies with original music produced for this project.

“Steve Aoki's second NFT drop builds on the success of Dream Catcher, which achieved over USD 4 million in sales and a record-breaking USD 888,888 bid,” stated Impact Theory Studios, adding that 10 NFTs will be available in future.