Browsing:NFT News

WeTransfer Embraces NFTs with Partnership Deal with Minima
2 months ago 1 min read

WeTransfer Joins Forces with Minima to Launch NFT Platform

WeTransfer, a leading global file transfer company, has announced a partnership with Swiss blockchain firm Minima, to launch NFTs (non-fungible tokens) on Minima’s network. The network is set to go live in 180 countries in March, offering creators the right to manage their digital property. This partnership will provide consumers with the ability to generate NFTs from their smartphones or any other device, and control how they share their digital assets. Additionally, they will have access to tools that will allow them to monetize their NFTs. Minima, founded in 2018 in the crypto hub of Zug, Switzerland, uses a proof-of-work

Yuga Labs has won a trademark infringement lawsuit
2 months ago 1 min read

Yuga Labs Claims Win in Legal Battle Over Bored Ape Trademark with RR/BAYC

Yuga Labs, the company behind the popular NFT project Bored Ape Yacht Club (BAYC), has won a trademark infringement lawsuit against Thomas Lehman, who collaborated on the RR/BAYC project. The case was brought by Yuga Labs in the District Court of New York, alleging that Lehman helped create the smart contract for the RR/BAYC collection, which was similar to BAYC and earned $1.6 million in sales, of which Lehman received 15%. The terms of the settlement include Lehman acknowledging Yuga Labs’ ownership of the BAYC trademark and not using the trademark, destroying any materials with the mark and burning any

2 months ago 1 min read

OpenSea Introduces Advanced Tools for NFT Creator Drops

OpenSea, a non-fungible token (NFT) marketplace, has launched a new suite of tools for creators launching NFT collections on its platform. The first version of Drops offered a unique experience to select partners, but the next phase of the roll-out will give creators the tools to manage their own minting process, including deploying smart contracts, configuring drop mechanics, and personalizing landing pages. The new toolkit will gradually be made available to select creators in the coming weeks before eventually opening to the public. OpenSea aims to expand the product so that anyone can easily drop collections across any blockchain with

First NFT ETF Ceases Operations as Market for Non-Fungible Tokens Dips
2 months ago 1 min read

NFT ETF Shuts Down as Demand for Metaverse Assets Wanes

The Defiance Digital Revolution ETF, the first ETF focused on NFTs and metaverse assets, will close by the end of February. The fund’s portfolio assets will start liquidating on February 16 and will not accept new orders after that day. Launched in December 2021, the ETF is down 72% since its debut, due to the cooling hype over NFTs and metaverse assets and the broader market downturn that has seen major cryptocurrencies like Bitcoin and Ethereum lose 70% of their value. NFT sales fell 83% YoY in 2022, and NFT transaction volume across all markets plummeted 83%. Despite the NFT

The Rally Digital social platform has shut down its Ethereum NFT
2 months ago 1 min read

Rally Digital Creator Platform Ends NFT Sidechain Support

The Rally social platform has shut down its Ethereum NFT sidechain due to tough market conditions. The sidechain, which allowed users to create social tokens, was built in 2018 but was “expensive to maintain” according to the CEO. In an email sent to users, Rally explained that the challenges and macro headwinds in the crypto industry were too overwhelming to overcome. The shutdown caused a disruption in withdrawal services, making it difficult for users to access their NFTs and the NFTs cannot be transferred to the mainnet. The closure of the website and the decision to shut down the sidechain

Coinbase has announced new safety features to its NFT Wallet app
2 months ago 1 min read

Coinbase Wallet Introduces New Safety Measures in Wake of NFT Scams

Coinbase, one of the leading crypto firms, has announced new safety and user experience features to its Wallet app in order to combat the growing number of phishing scams, malicious airdrops, and other scams targeting crypto users. The new features, including transaction previews, token approval alerts, a blocklist of flagged dApps, and improved revoke features, will help Wallet users better understand how engaging with a smart contract will affect their Wallet balances before they sign, and will also help to protect users from malicious activity. This move from Coinbase comes days after a high-profile incident of a phishing attack that

Fortnite player Mongraal set a high score on Bored Ape Yacht Club's game Dookey Dash
2 months ago 1 min read

Fortnite Star Mongraal Scores Big on Bored Ape’s Dookey Dash NFT Game

Professional Fortnite player Mongraal set a new high score on Bored Ape Yacht Club’s game Dookey Dash and posted a screenshot on Twitter. The high score may attract the attention of Mongraal’s 2 million Twitter followers and 4.6 million YouTube subscribers to NFTs and crypto gaming. The move may direct attention to Yuga Labs, the creator of Bored Ape Yacht Club, and the crypto gaming industry. Blockchain-based gaming has been a major focus in crypto VC space but hasn’t seen sustained traction yet. Yuga Labs’ latest NFT drop, Sewer Pass, is tied to the high score in Dookey Dash, with

"EthBoy" NFT collection in celebration of Ethereum co-founder
2 months ago 1 min read

The Evolving Art of EthBoy NFT Paintings: Edition 4 Unveiled!

Artist Trevor Jones is releasing the fourth edition of the generative artwork “EthBoy” in celebration of Ethereum co-founder Vitalik Buterin’s birthday. The latest edition, titled “TRANSCEND,” was created in collaboration with Grammy-winning DJ Sasha and will be displayed in London. The NFT, which is part of the “ETHEREAL” collection, changes over time in response to Ethereum’s price and network gas fees. Jones partnered with artists Alotta Money and DJ Don Diablo to release a new Ethboy iteration every six months for the next five years. The first edition of EthBoy sold for 260 ETH ($141,536) in 2020. The goal of

Bitcoin now has NFTs
2 months ago 1 min read

Taproot-Powered Bitcoin NFTs Spark Discussion

Bitcoin now has NFTs (non-fungible tokens) that are completely on-chain and can hold up to 4 MB of data. This makes it possible to publish short videos and other digital assets on the blockchain. Some bitcoin developers, such as Adam Back of Blockstream, have raised concerns about the use of these NFTs for non-essential data and called for censorship. The Ordinals platform is currently the main platform for minting these NFTs, and it stores the data in the segregated witness part of the transaction, which results in a 75% discount on transaction fees compared to Ethereum’s NFTs. Although the NFTs

China's Hainan
2 months ago 1 min read

China’s Hainan Province Tightens NFT Regulations

Hainan Province in South China announces a plan to regulate NFTs, citing concerns over fraud, money laundering, and illegal fundraising. The province’s market regulator and 9 other state agencies have called for digital collectible firms to register with relevant authorities and have their operations approved based on artwork, internet and blockchain information management rules. The authorities aim to monitor and prevent financial risks related to NFT trading platforms in Hainan, as the province works to develop its free-trade port and cultural tourism. China has banned cryptocurrency transactions but has yet to set specific regulations for NFTs, with state media criticizing

Azuki NFT
2 months ago 1 min read

Azuki NFT Project Hit by Twitter Hack, Loses $750K

Hackers have taken over the Twitter account of the top non-fungible token (NFT) project, Azuki, and have stolen over $750,000 worth of crypto assets. The hackers posted a wallet-draining link disguised as an invitation for users to participate in a virtual land mint in The Garden, Azuki’s native metaverse platform. Wallet drainers are phishing mechanisms that trick victims into approving transactions that transfer crypto assets from their wallet to that of the hackers. The attackers made off with over $751,321 worth of USDC, 3.9 ETH, 11 NFTs, and $6,742.62 in USDC from other crypto wallets. Azuki has since reclaimed control

Amazon is planning to launch a new initiative using NFTs
2 months ago 1 min read

Amazon to Launch NFT Platform

Amazon is reportedly planning to launch a new initiative using non-fungible tokens (NFTs) in the spring, according to a report by Blockworks. The initiative is said to have over a dozen partners, with a focus on gaming. The report suggests that the platform may involve a push to get Amazon customers to play crypto games and claim free NFTs. The initiative is still in development and a launch date of April has been suggested by some sources. It’s noted that the platform would be run out of Amazon rather than AWS, Amazon’s cloud computing subsidiary. This move is in line