Unique or non-fungible tokens (NFT) continue to take the art world by storm. World-renowned art broker Sotheby’s announced on March 16 that it will enter the NFT area to facilitate the sale of tokenized works by the artist known as “Pak”.
As the aforementioned developments take place, protocols producing NFT services also gain in value. One is Everipedia (IQ), a blockchain-based encyclopedia with a vision to create “a world where data is accessible to everyone”.
The Everipedia ecosystem is also home to the decentralized knowledge base PredIQt system as well as the DeFi platform, which includes the prediction marketplace where users can make predictions about future market events and earn cryptocurrency in return for successful predictions.
According to data from Cointelegraph Markets and TradingView, the IQ price rose 400 percent from its lowest level on March 8 with $ 0.00781 last week, reaching a two-year high of $ 0.039 on March 16.
Everipedia sees itself as a new generation encyclopedia redesigned for the modern age, and in just a few years the project has become the world’s largest British encyclopedia in terms of content.
NFT drawings increase interest in Everipedia
On March 3, the token price rose when the Associated Press announced that Everipedia would auction an NFT created in collaboration with Everipedia using data published on Ethereum with OraQle technology.
In the future, every historic event will be called on-chain and archived with NFTs.https://t.co/QkmcXN7hc5
– Everipedia (@Everipedia) March 3, 2021
Following the initial surge in transaction volume following the announcement, IQ remained flat until March 10, when the auction for 100 Ether, roughly equivalent to $ 180,000, took place.
Announcing the winning bid tweetAs part of the Associated Press, “Stay tuned for more NFT collaboration between AP and Everipedia!” He wrote in the form. Shortly after this announcement, IQ’s trading volume increased from $ 3 million to $ 252 million.
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