NFT News

Sony Explores Cross-Platform NFT Transfers with New Patent

March 25, 2023 1 min read

Sony Interactive Entertainment, the powerhouse behind the PlayStation brand, has filed a patent for a new framework that could revolutionize the way nonfungible tokens (NFTs) are used in gaming. With a history of interest in the crypto industry, the company’s latest move highlights the potential for integrating NFTs into gameplay across multiple platforms. The patent, titled “NFT framework for transferring and using digital assets between game platforms,” outlines Sony’s plan

Playboy’s Crypto Catastrophe: $4.9M Loss on Ethereum NFTs

March 17, 2023 1 min read

PLBY Group, the parent company of Playboy, has announced a $4.9 million impairment loss on the Ethereum it held last year. The loss was incurred due to the significant decline in market prices during the crypto winter, according to the company’s annual filing. Playboy accepted Ethereum as payment for its “Rabbitars” non-fungible tokens (NFTs), which were launched in 2021. These NFTs are held in the company’s balance sheet as digital

Polygon and Salesforce Collaborate to Launch Innovative NFT Management Platform

March 17, 2023 1 min read

Salesforce, the leading CRM software company, has partnered with Polygon blockchain to add NFTs to their suite of tools. This move marks another significant win for Polygon, which has already established partnerships with Starbucks, Reddit, and other big names. According to independent researcher Mike Sonders, Salesforce is the biggest SaaS company on a U.S. stock exchange. The partnership with Polygon will help Salesforce clients create token-based loyalty programs. The move

Meta to Abandon NFTs on Facebook and Instagram, Prioritize Different Services

March 15, 2023 1 min read

Meta Platforms, the parent company of Facebook and Instagram, announced that it will wind down its non-fungible token (NFT) operations on both social media services. This move is part of the company’s plan to pull back from Web 3.0 technologies and focus on other ways to expand support for creators and businesses. According to Stephane Kasriel, Meta’s head of commerce and financial technologies, the company will shift investments from NFTs

German Regulator BaFin Advocates Customized Strategy for NFTs

March 9, 2023 1 min read

The Federal Financial Supervisory Authority of Germany (BaFin) recently published an explanatory note addressing the legal classification of nonfungible tokens (NFTs). The note revealed that BaFin is not prepared to categorize NFTs as securities, and instead suggests that NFTs should be classified on a case-by-case basis. BaFin has stated that, at present, it doesn’t see how NFTs meet the criteria to be classified as securities. However, the regulatory authority has

Cardano’s Founder Hails NFTs as the ‘Energetic Heart’ of ADA Ecosystem

March 6, 2023 1 min read

Despite recent fluctuations in the cryptocurrency market, Cardano (ADA) founder Charles Hoskinson remains positive about the progress of his ecosystem, particularly in regards to non-fungible tokens (NFTs) issued on Cardano. In a recent podcast, Hoskinson stated that NFTs were “the most vibrant part of Cardano at the moment,” with 8 million assets already issued and more than half of the projects in some way NFT-related. Among the top Cardano projects

Snoop Dogg is Now a Co-Founder of Web3 Live-Streaming App

March 6, 2023 1 min read

Snoop Dogg’s Web3 partnership has been making waves in the creator economy movement, and the latest venture is no exception. The rap star has been revealed as a co-founder of the Web3-powered live streaming app, Shiller, which is set to launch in April. Shiller is a live broadcast platform that combines Web3 technology with real-time live-streaming content. Along with technology entrepreneur Sam Jones, Snoop Dogg plans to revolutionize the way

HyperPlay Launches Alpha Version with Built-In Web3 Wallet for Gamers

March 2, 2023 2 mins read

HyperPlay, a new Web3-native game launcher with a built-in crypto wallet, has announced its early access launch. The online game launcher was built in collaboration with crypto wallet provider MetaMask and aims to integrate players’ crypto wallets with game libraries such as Epic Games Store, GOG, and its own HyperPlay Store. Founded by former MetaMask operations lead JacobC.eth, HyperPlay does not charge developers any commissions and instead plans to rely

Binance’s AI NFT Generator Sells Out 10K Mints in 2.5 Hours

March 2, 2023 1 min read

Binance has launched an artificial intelligence-powered non-fungible token (NFT) generator that has already made waves in the digital art world. Known as “Bicasso,” the AI-powered image-generation tool reached its cap of 10,000 NFT mints in just 2.5 hours after launching in beta on March 1st. Bicasso allows users to upload an image or type in creative prompts to generate a bespoke image created with AI. Similar to other AI-art platforms

Yuga Labs Launches TwelveFold: A New NFT Collection for Bitcoin Enthusiasts

February 28, 2023 1 min read

Yuga Labs is once again shaking up the world of NFTs, this time by introducing a new Bitcoin Ordinals collection called TwelveFold on February 28. With a limited edition of only 300 generative pieces, each piece will be inscribed on satoshis, the smallest unit of Bitcoin. The new collection is set to be released via auction, with the bidding token being Bitcoin. Interested buyers will be notified 24 hours in

NBA and Ant Group team up to bring NFTs to China

February 23, 2023 2 mins read

The National Basketball Association (NBA) is teaming up with Ant Group, Alibaba’s fintech affiliate, to bring NBA-themed non-fungible tokens (NFTs) and content to the virtual space in China. NBA China, the league’s Chinese business arm, made the announcement on Tuesday, revealing the partnership’s goal to enhance fan engagement in China. The partnership will see the NBA launch a mini-app on Alipay, Ant Group’s flagship mobile app and China’s largest third-party

Court rejects Dapper Labs’ motion to dismiss NBA Top Shot securities case

February 23, 2023 1 min read

Dapper Labs, the company behind the popular non-fungible token (NFT) collection, NBA Top Shot, has been denied its request to dismiss a lawsuit alleging that the collection is an unregistered security. District Judge Victor Marrero ruled that the NBA Top Shot collection appears to meet the requirements of a security under the Howie Test. The collection allows users to collect video highlights from the National Basketball Association in the form