Understanding the NFTs-Future of the digital art

Ubisoft Quartz Platform

Ubisoft, a French video game publisher, announced its first foray into nonfungible tokens (NFTs) with the launch of Ubisoft Quartz. This new platform will go into beta this week with Ghost Recon Breakpoint PC players on Ubisoft Connect. According to a statement on the Ubisoft website, players can obtain collectible Digits. These are “the first NFTs playable in AAA games and running on energy-efficient technology.”

Digits, such as in-game vehicles or weapons, will come in limited quantities and editions. They will be given away for free to early adopters in the United States and Canada on December 9, 12, and 15. Quartz will be available in various countries, including Brazil, Spain, France, Belgium, Germany, Italy, and Australia. Previously, Ubisoft collaborated with distribution platform Ultra to leverage its games on the EOS blockchain. Cointelegraph enquired with Ubisoft about their relationship with Ultra.

Bitcoin

The stock market rose sharply on growing optimism that the new omicron coronavirus variant would be less harmful to the economy than previously thought. Bitcoin spent the majority of Tuesday trading above $51,000.

Bitcoin’s price had retreated by the time this article was published. It had fallen slightly in the previous 24 hours. According to blockchain analytics firm Santiment, the market crash over the weekend resulted from a “weak hand purge. The Bitcoin network realized profit/loss chart shows that Saturday’s correction resulted in one of the most significant drops in bitcoin’s NPL this year.

NPL divides the price at which bitcoin last moved on the blockchain – assuming it was bitcoin’s acquisition price – by the price at which bitcoin changes addresses again, which is the price Santiment takes as the selling price.

Bitcoin is attempting to recover from its weekend sell-off, but the cryptocurrency’s price may encounter short-term resistance around 53,000-55,000. BTC was trading around $50,000 at the time of publication, up about 3% in the previous 24 hours.

The four-hour relative strength index is rising from extreme oversold levels. This indicated that buyers may continue to be active in the near term. Still, BTC is in a month-long downtrend, as defined by the four-hour chart’s downward sloping 100-period moving average. As sellers outnumber buyers, downtrends tend to limit price increases.

On the weekly chart, price momentum is still negative, implying that bitcoin will take more time to break above its short-term downtrend decisively.

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