NFT News

Rally Digital Creator Platform Ends NFT Sidechain Support

February 1, 2023 1 min read

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

Coinbase Wallet Introduces New Safety Measures in Wake of NFT Scams

January 31, 2023 1 min read

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

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

January 31, 2023 1 min read

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

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

January 31, 2023 1 min read

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

Taproot-Powered Bitcoin NFTs Spark Discussion

January 30, 2023 1 min read

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

China’s Hainan Province Tightens NFT Regulations

January 30, 2023 1 min read

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,

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

January 28, 2023 1 min read

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

Amazon to Launch NFT Platform

January 27, 2023 1 min read

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

Yuga Labs Takes Action: Blacklists NFT Marketplaces that Don’t Support Royalties

January 19, 2023 1 min read

Bored Ape Yacht Club (BAYC) creator Yuga Labs has taken a stand on the ongoing debate around NFT royalties by blacklisting certain addresses related to marketplaces that do not support royalties for NFTs. These marketplaces include LookRare, SudoSwap, Blur, and NFTX. Royalties are payments made to NFT creators each time their assets are sold on a marketplace. Some platforms, like OpenSea, mandate creator royalties of up to 10%, while others

Yuga Labs Confirms Mailchimp Hack, Assures NFTs Remain Secure

January 19, 2023 1 min read

On January 19th, Yuga Labs, the company behind popular NFT projects such as Bored Ape Yacht Club, Meebits, and CryptoPunks, announced that their Mailchimp account had been hacked. However, they were quick to assure the community that the hack did not impact their NFTs in any way. In a tweet, Yuga Labs confirmed that the hack had occurred on January 11th and that an unauthorized actor may have accessed data

Digital Fashion Brand Syky Secures $9.5 Million in Series A Funding Led by Seven Seven Six

January 18, 2023 1 min read

Digital fashion brand Syky has raised $9.5 million in a Series A funding round led by Seven Seven Six. The round also saw participation from Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures. Syky, led by former Ralph Lauren Chief Digital Officer Alice Delahunt, aims to build a blockchain-enabled luxury platform that will equalize creative opportunities for aspiring designers and showcase the best of fashion from

Polygon-based Intella X raises $12 million before Q1 launch

January 18, 2023 1 min read

Web3 gaming platform Intella X has raised $12 million in funding ahead of its launch on the Polygon blockchain. The platform, developed by South Korean gaming firm Neowiz in partnership with Polygon, aims to remove high entry barriers and improve user experience in web3 gaming through features such as streamlined wallet creation and meta transactions. A number of prominent investors participated in the funding round, including Animoca Brands, Magic Eden,