NFT News

South Korea’s KT Corp shuts down NFT platform MINCL

January 26, 2024 1 min read

KT Corporation, South Korea’s telecommunications giant, has decided to close its NFT platform, MINCL, citing changing business conditions as the primary reason. This move is consistent with a larger trend in the region, in which several companies are reconsidering their participation in Web3 projects. MINCL users are urged to transfer their NFTs to alternative e-wallets before the platform is shut down on March 4. MINCL, which launched in April 2022,

OpenSea NFT Marketplace Disables Ledger Connect Amid Ledger Connect Security Breach

January 25, 2024 1 min read

The security breach at Ledger Connect has sent shockwaves through the community, with many NFT enthusiasts worried about potential losses. The incident has had a significant impact on users such as Muro, an OpenSea user who suffered a $50,000 financial setback and lost some NFTs. As the crypto world deals with the aftermath, OpenSea, a major NFT marketplace, has taken proactive steps to protect its users. OpenSea, a leading NFT

X (Twitter) Deactivates NFT Profile Images Feature for Users

January 11, 2024 1 min read

In an unexpected move, Twitter, dubbed the “X” of the online world, has disabled support for non-fungible tokens (NFTs) in its premium membership section. Premium subscribers initially had the unique ability to showcase their NFT holdings through personalized profile pictures, adorned with a distinct hexadecimal profile photo. Users could seamlessly feature an NFT as their profile image after establishing a temporary link to their cryptocurrency wallets. When finished, the digital

Logan Paul pledges $2.3 million to refund CryptoZoo NFT investors

January 7, 2024 1 min read

Logan Paul is stepping up to the plate, pledging over $2.3 million to compensate investors who were let down by his doomed NFT project, CryptoZoo. Paul took to X to announce a buy-back program, admitting the project’s failure and pledging to make things right. Despite admitting that the venture fell short of expectations, Paul blamed CryptoZoo’s demise on “bad actors.” Despite initial excitement and comparisons to popular games, the project

Nifty Island Launches $ISLAND Token for Public Access to Social Metaverse Game

December 22, 2023 1 min read

Nifty Island, Nyft Studio’s open social metaverse game platform, has announced plans to launch its native token, $ISLAND. This scarce digital commodity aims to turn Nifty Island into a public good that can be accessed by communities all over the internet. The token distribution event is set to begin on January 17, 2024. In contrast to traditional methods such as minting or pre-sale, $ISLAND tokens will be distributed via a

OKX NFT Marketplace Surpasses $50M Daily Trading Volume

December 19, 2023 1 min read

OKX‘s NFT has outperformed major players such as OpenSea, Blur, and Magic Eden, with a staggering daily trading volume exceeding $50 million. This milestone, reported by DappRadar, occurred around 10:00 a.m. UTC on December 18, demonstrating OKX NFT Marketplace’s market dominance. While the platform’s daily trading volume has decreased slightly to $35 million, it still has a significant lead over other well-known NFT markets. The combined 24-hour trading volume of

Massive NFT Heist: NFT Trader Platform Hacked, Millions Worth of NFTs Stolen

December 18, 2023 1 min read

The peer-to-peer trading platform NFT Trader was hacked in a major security breach, resulting in the theft of numerous valuable NFTs, including those from the renowned Bored Ape Yacht Club (BAYC). Following the incident, NFT Trader contacted its user base urgently, urging them to revoke access to two compromised smart contracts to prevent further exploits. In a Twitter post responding to the hack’s aftermath, NFT Trader emphasized the importance of

Donald Trump Launches Exclusive ‘Mugshot Edition’ NFTs at $99, Offering Unique Rewards

December 13, 2023 1 min read

Donald Trump, the former President of the United States, has again entered the world of NFTs with a new ‘Mugshot Edition’ collection priced at $99 each. This announcement has not only sparked interest among collectors, but it has also resulted in a price increase for Trump’s previous NFT releases. The ‘Mugshot Edition’ NFT collection is inspired by Trump’s legal history and includes one-of-a-kind cards, some of which are personally signed

Cristiano Ronaldo Faces Lawsuit Over Binance Crypto Promotions Amid SEC Charges and $4.3B Fine

November 29, 2023 1 min read

Cristiano Ronaldo, the football sensation, is now at the center of a lawsuit over his promotion of the crypto exchange Binance. The lawsuit, filed in Florida on November 27, alleges that Ronaldo promoted and sold unregistered securities in collaboration with Binance. Binance collaborated with Ronaldo in 2022, using the football star’s celebrity to promote a series of non-fungible tokens (NFTs) featuring the renowned athlete. According to the lawsuit, Ronaldo’s support

Crypto Scammer Faces $1.2M Payout for NFT Theft through Apple Support Deception

November 29, 2023 1 min read

In the most recent crypto-related case, Amir Hossein Golshan, a 25-year-old Los Angeles man, was sentenced to eight years in federal prison and ordered to pay $1.2 million in restitution. Golshan orchestrated a series of scams in which he posed as an Apple support representative, stealing non-fungible tokens (NFTs) and crypto through tactics such as SIM swapping and social media account takeovers. Over the course of several years, Golshan’s crimes

The Simpsons Features NFTs and Blockchain in Halloween Episode

November 6, 2023 1 min read

In a special Halloween episode of The Simpsons, titled “Treehouse of Horror 34,” non-fungible tokens (NFTs) and blockchain technology took center stage. The episode, known for its spooky and satirical takes on pop culture, made several humorous references to the world of on-chain NFTs in its first chapter, titled “Wild Barts Can’t Be Token.” For those not familiar, NFTs are a unique type of cryptocurrency asset that allows holders to

Leading NFT Exchange, OpenSea, To Cut Off 50% Of Its Workforce

November 4, 2023 2 mins read

OpenSea, the largest NFT marketplace, announced on Friday that it was parting ways with half of its workforce. CEO Devin Finzer shared a detailed nine-part Twitter thread outlining their plans to revamp the OpenSea product line and corporate culture. This decision is a crucial part of OpenSea’s strategy to streamline operations and foster innovation, a plan that Finzer had recently discussed on social media. The goal is to create a