Magic Eden revealed that it will refund all the users who mistakenly bought unverified NFTs that showed up on the collection pages as a result of a recent breach. In a statement, the Solana-based NFT marketplace said that a bug was deployed in an update to two of its features – Snappy Marketplace and Pro Trade...Read More
Solana’s largest non-fungible token marketplace Magic Eden recently found itself in a bizarre situation after the platform displayed pornographic images and stills from the award-winning comedy series The Big Bang Theory instead of NFT collections. Shortly after the incident, users began speculating that the NFT marketplace may have been compromised. However, Magic Eden clarified that...Read More
Crypto traders are converting worthless NFTs into tax breaks. They’re using a service started just for that purpose. Others are taking advantage of IRS tax loopholes for tax breaks on their losses from BTC, ETH, and others this year. That’s how bad the crypto winter is getting as the frost sets into planet earth’s northern...Read More
A recent report published by blockchain analytics firm Dune revealed that nearly 60% of non-fungible token (NFT) trading volumes this year were wash trades. Wash trading is a form of market manipulation in which a trader buys and sells a security to create the appearance of increased trading volume and activity in the market. In...Read More
Despite his seemingly poor market timing, former U.S. President Donald Trump’s recently launched collection of digital “baseball cards” sold out within 24 hours of their release. The crypto community has reacted with amusement – especially given Trump’s prior statements berating crypto as a “scam.” Trump Has an NFT Collection? As CryptoPotato reported on Thursday, Trump’s...Read More
The American multinational chain of coffeehouses – Starbucks – launched its blockchain-based loyalty program, called Starbucks Odyssey, to its first group of US beta testers. The effort is an extension of the company’s existing project – Starbucks Rewards – and includes coffee-themed NFTs that relate to real-world experiences. The entity displayed its intentions to hop...Read More
The FTX meltdown may have laid the groundwork for an unprecedented shift in user activity from centralized finance (CeFi) to decentralized finance (DeFi), but the total value locked in the services provided by the latter has taken a serious hit. A new report by Dapp Radar suggested that the non-fungible token (NFT) market has not...Read More
The decentralized exchange Uniswap enabled NFT trading on its platform by listing digital collectibles a part of leading marketplaces, such as OpenSea, LooksRare, Sudoswap, and more. The initiative comes a few months after Uniswap acquired the NFT aggregator Genie. The DEX revealed that as of today (November 30), its users could trade a variety of...Read More
Despite the negative news surrounding the crypto ecosystem, NFTs continue attracting large entertainment companies’ attention. This November 21, Mattel, one of the world’s largest toy companies, announced the launch of its own NFT marketplace, “Mattel Creations,” which will offer direct-to-consumer services. According to the company’s press release, the first collection to be launched by the...Read More
The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%....Read More
Football icon Cristiano Ronaldo will soon launch his CR7 NFT collection on Binance NFT. The athlete partnered with the crypto exchange in June to introduce non-fungible tokens and Web3 to his multi-million fan base. One of the most successful soccer players of all time – Cristiano Ronaldo – will drop his first NFT collection later...Read More
Web 3 companies are feeling the crunch of a bear market. The latest one to announce slashing its team size to cope with the deteriorating economic conditions is NFT powerhouse Dapper Labs. Citing the macroeconomic environment, the firm said it is laying off 22% of its staff. The company’s founder and CEO, Roham Gharegozlou, said...Read More
Apple users will be able to enjoy certain NFT features on their devices, according to the firm’s latest update on the matter. However, the Cupertino, California-based giant wants to keep control over the entire process. The new guidelines updated by the company on Monday provided more information on how it sees the entire crypto industry,...Read More
The first half of October has seen numerous crypto-related companies securing multi-million fundraisers. Some examples include Horizon Blockchain Games, Step, Uniswap Labs, Copper Technologies, and the investment start-up Pillow. Since the beginning of the year, digital asset firms have raised over $30 billion. Andreessen Horowitz and Sequoia Capital played a key role, both completing $9...Read More
Scammers have reportedly sent consumers a new Solana Phantom security update assuring it will grant additional protection. However, wrongdoers have installed password-stealing malware through airdropped NFTs and used them to drain cryptocurrency from the affected wallets. Another Scam in the Space A recent coverage revealed that the scheme started two weeks ago when NFTs called...Read More
Despite starting on a promising note, the global macroeconomic environment influenced and adversely impacted the crypto market, which sustained several damaging corrections. The same could be said for the NFT market. However, new data suggest that the NFT business continues to be in great demand. High Demand for NFTs In Q3, the NFT trading volume...Read More
Major social media platform Meta has now enabled the NFT sharing feature for all Facebook and Instagram users in the United States, as well as allowing them to connect their wallets. Also, creators and collectors across 100 countries can access the feature. In May, Meta announced that it would test the NFT sharing feature using...Read More
The blockchain company Ripple joined forces with the music integration platform Styngr and the record label Armada Music to release an exclusive album in Maladroids (a video game built on the XRP Ledger). It is worth noting that Armada Music is one of the leading entities in its field, while the renowned DJs – Armin...Read More
After the announcement of a $54 million funding round, Doodles’ sales volume spiked by over 1,000% in a matter of just a few hours earlier this week. Doodles’ record-breaking traction comes despite a slowdown in the NFT market. According to data from DappRadar, the project’s volume was recorded to be $2.48 million, with an uptick...Read More
According to a report by the data acquisition and analysis company DappRadar, Web3-based games and Metaverse projects raised $748 million since August 1, 2022. Last month, on average, 847,000 daily Unique Active Wallets (UAW) interacted with blockchain games, an 11% decline compared to July. One of the most popular games in the field – Axie...Read More
The Japanese government is handing out non-fungible tokens (NFTs) as a supplementary award to local authorities that excelled in utilizing digital technology to solve local issues as well as fostering the digital economy. A total of seven mayors received NFT awards for various initiatives. As per the report from CoinPost, the tokens, which were distributed...Read More
Queen Elizabeth II passed away yesterday (September 8) at the age of 96, after wearing the British crown for 70 years and 214 days. The death of the longest reigning monarch in the UK’s history was met with sorrow all over the globe, but it also attracted the crypto community. Hours after the news, memecoins...Read More
Seoul-based TV giant LG Electronics announced the launch of its non-fungible token (NFT) marketplace – LG Art Lab – potentially opening up NFT collecting to a much broader audience. With the latest platform, based on the Hedera blockchain, users will be able to explore, buy, sell and trade NFTs on LG’s smart television sets. LG...Read More
As bad actors continue to perform hit-and-run attacks on projects in the crypto space, it was inevitable that watchdogs, auditors, and the like would also become more sought after. One such auditor is Rug Pull Finder, an NFT watchdog who investigates alleged scams upon request and attempts to keep the community updated via Twitter. Unfortunately,...Read More
Famous American actor and comedian Bill Murray has become the latest victim of hackers, losing $185,000 worth of Ether (ETH) just a few hours after closing his non-fungible token (NFT) charity auction. According to on-chain data from Etherscan and additional information from Murray’s team, the hackers breached and started to drain the actor’s wallet at...Read More
The crypto unit of Silicon Valley Andreessen Horowitz (a16z) is all set to release a set of free, public “Can’t Be Evil” licenses. The firm has designed the licenses specifically for non-fungible tokens (NFTs) and is inspired by the work of Creative Commons. As per the official press release, the community can freely use these...Read More
The world-leading NFT marketplace OpenSea has publicly declared its support for the Ethereum Merge later this month. As such, it will not support any speculative Ethereum forks that follow its activation – such as a potential ETHPoW fork. The marketplace confirmed its support for the Merge in a tweet on Wednesday. “We are committed to...Read More
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs. Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted...Read More
Social media giant Meta announced the integration of non-fungible tokens (NFTs) to Facebook, adding that NFT creators can now showcase their digital collectibles across Facebook and Instagram. Some of the wallets supported by the social media giants include Coinbase Wallet and MetaMask Wallet. In an updated blog post on Monday (August 29, 2022), Meta revealed...Read More
The highest class of automobile racing – Formula 1 – filed two trademarks related to non-fungible tokens (NFTs) and cryptocurrencies for the Las Vegas Grand Prix event, scheduled for November 2023. This is not Formula 1’s first interaction with the digital asset sector. One of the leading exchanges – CryptoCom – served as its Global...Read More
