Browsing:NFT News

Amazon is planning to launch a new initiative using NFTs
1 year 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

Yuga Labs' decision to blacklist NTF marketplaces without royalty program affects its Sewer Pass NFT
1 year ago 1 min read

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

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 like LookRare and SudoSwap have made the royalties model optional. Yuga Labs’ decision affects its Sewer Pass NFT, which grants holders access to the company’s Dookey Dash interactive skill-based game.

Yuga Labs
1 year ago 1 min read

Yuga Labs Confirms Mailchimp Hack, Assures NFTs Remain Secure

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 in their account, but that no data had been exported. They also stated that the data in the Mailchimp account was only from an email campaign involving a few people

Digital Fashion Innovator Syky Raises $9.5 Million in Series A Funding Led by Seven Seven Six
1 year ago 1 min read

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

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 emerging and established brands. Delahunt, who has also served as a global director of digital and social at Burberry, said the company plans to cultivate a community passionate about the

Web3 gaming platform Intella X
1 year ago 1 min read

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

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, Planetarium, Big Brain Holdings, Crit Ventures, JoyCity, Pearl Abyss, XL Games, Wemix, and Global Coin Research. Intella X plans to reward contributors to its ecosystem, including game developers and users,

NFT game Five Stars
1 year ago 1 min read

South Korean Court Rules NFT Game Items Unfit for Trading

On Friday, a court in South Korea ruled against the release of a blockchain-based play-to-earn (P2E) game called Five Stars. The Seoul Administrative Court dismissed the developer’s appeal against the Game Rating Administration Committee’s decision not to process the age rating for the game. At the heart of the issue is the use of non-fungible tokens (NFTs). The court ruled that NFTs are not game items if they are traded on exchanges, as is the case with Five Stars. NFTs minted in-game can be used to purchase items and characters, and can be sold on exchanges. As such, the court

Yuga Labs introduces ‘Dookey Dash’ to make NFT minting more engaging
1 year ago 1 min read

Yuga Labs turns NFT minting into a game with ‘Dookey Dash’

Yuga Labs, the creator of the popular Bored Ape Yacht Club NFT collection, has announced plans to gamify the process of minting NFTs. The startup has created an online game called “Dookey Dash,” in which players navigate a sewer to claim rewards in the form of NFTs. The game will be available starting Jan. 17 and players will have until Feb. 8 to record a high score and claim power sources, the purpose of which remains unclear. The prizes will “evolve throughout 2023,” according to Yuga Labs’ website. To play the game, players must claim a free “Sewer Pass,” which

Yuga Labs and Bored Ape NFT
1 year ago 1 min read

Yuga Labs’ Lawsuit Against Bored Ape Could Have Far-Reaching Implications

A federal judge has ruled that the co-founders of Yuga Labs, the company behind the popular Bored Ape Yacht Club NFT collection, must face deposition in the company’s ongoing trademark infringement lawsuit against conceptual artist Ryder Ripps. This ruling comes as a continuation of a legal battle between Yuga Labs and Ripps which began in early 2022, when Ripps alleged that the Bored Ape Yacht Club NFTs contained latent, intentional racist and pro-Nazi imagery. In May, Ripps then sold a copycat collection of 10,000 Bored Ape NFTs, stating that the collection highlighted Yuga’s supposed Nazi ties and raising legal questions

Rolls-Royce Motor Cars has collaborated with Sacha Jafri, to release six hand-painted vehicles with their NFTs
1 year ago 1 min read

Rolls Royce collaborates with artist to unveil ‘Six Elements’ NFT series

Rolls-Royce Motor Cars has collaborated with renowned artist Sacha Jafri to produce a series of six unique hand-painted Phantom Extended Series II cars, named “The Six Elements.” These cars draw inspiration from Jafri’s “Journey of Humanity” painting, embodying the emotion of each elemental force. The collaboration also includes an NFT (non-fungible token) initiative, “Rolls-Royce That Keeps on Giving,” where each car is associated with a unique NFT featuring flythrough animations. Through this initiative, the companies aim to raise $1 million for charity organizations that focus on education, health, and sustainability, with 20% of royalties from every NFT sold being donated

OpenSea partners with Arbitrum
1 year ago 1 min read

OpenSea expands platform capabilities with Arbitrum Nova integration

OpenSea NFT marketplace has implemented Arbitrum Nova, a Layer 2 blockchain designed to provide low-cost data availability. Through this integration, OpenSea customers will now have an economical way to purchase and sell digital collectibles compared to transactions on Ethereum. This integration follows OpenSea’s implementation of Arbitrum, another scaling network developed by Offchain Labs, in September of 2022. All collections on the Arbitrum Nova blockchain will be organized with the other Arbitrum collections on the OpenSea website. OpenSea may not be the first NFT marketplace to use Nova, which is also utilized by smaller competitors like Trove by TreasureDAO, Babylons, and

Mutant Ape Planet creator accused of $2.9M NFT fraud, arrested in New York
1 year ago 1 min read

Creator of Mutant Ape Planet arrested for alleged $2.9M NFT fraud in New York

The developer of a knock-off NFT collection called Mutant Ape Planet has been arrested in New York and charged with defrauding investors of $2.9 million in a “rug pull scheme.” The developer, French national Aurelien Michel, is accused of making false representations about the collection and using the funds for personal gain. Michel allegedly admitted to the community via social media that he had perpetrated a rug pull, saying “we never intended to rug but the community went way too toxic.” The collection, which is a knock-off of the popular Mutant Ape Yacht Club NFT collection, has had 567 Ether

NFT influencer suffers significant losses due to cyberattack, loses over $300,000 in CryptoPunks
1 year ago 1 min read

NFT influencer loses over $300,000 worth of CryptoPunks in cyberattack

NFT influencer CryptoNovo announced on January 4 that he had fallen victim to a cyberattack, resulting in the loss of two CryptoPunks and other NFTs including Meebits, CloneX, Mutant Ape Yacht Club, and Bored Ape Yacht Club. The two CryptoPunks were quickly sold by the attacker, one for 70 Ether (worth $88,434 at the time of publication) and the other for 199 ETH (worth $251,404), resulting in losses of over $300,000 for CryptoNovo. CryptoPunk #3706, which is associated with the influencer, was also transferred to a different address and sold for 75 ETH (worth $94,751), although it is not clear

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