NFT News

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

Ubisoft Expands Web3 Presence with Launch of Rabbids NFTs on The Sandbox

February 23, 2023 1 min read

Ubisoft, the video game publisher behind popular franchises such as Assassin’s Creed and Just Dance, has released Rabbids NFT avatars for The Sandbox, an Ethereum metaverse game. This is not Ubisoft’s first venture into the Web3 world, as it previously released in-game NFT items for Ghost Recon Breakpoint. The Rabbids NFT avatars are being sold for 100 SAND, or about $78, each on the Ethereum scaling network Polygon. The sale

OpenSea Eliminates Trading Fees, Reduces Creator Revenue

February 20, 2023 1 min read

OpenSea, the leading NFT marketplace, has announced a set of changes to its fee and royalty structure. These changes will have a significant impact on user activity, including that of collectors and creators. OpenSea tweeted on Friday, February 17, that it would be implementing a 0% transaction fee policy, albeit only for a limited time. Previously, OpenSea had charged a 2.5% trade levy that formed a substantial part of its

BAYC Community Accuses Yuga Labs of IP Theft for Trademarking Logo

February 19, 2023 2 mins read

Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has been accused of illegally trademarking the BAYC wolf skull logo without proper licenses. The logo was allegedly taken from a company specializing in drawing tutorials for beginners and children. NFTs were created to protect artists and their intellectual property. However, Yuga Labs has been accused of the very thing NFTs were created to prevent.

Napster Expands Web3 Presence with Acquisition of Mint Songs

February 16, 2023 1 min read

The Napster brand, known for its controversial peer-to-peer music-sharing platform in the late 90s and early 2000s, is taking its next step into Web3 with the acquisition of startup Mint Songs. Napster announced its move into blockchain last June with a plan to launch a token using the Algorand blockchain, and today, the Mint Songs acquisition will be the foundation for the company’s first Web3 offerings. Mint Songs co-founder and