NFT News

South Korean Court Rules NFT Game Items Unfit for Trading

January 17, 2023 1 min read

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

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

January 12, 2023 1 min read

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

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

January 10, 2023 1 min read

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

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

January 10, 2023 1 min read

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.

OpenSea expands platform capabilities with Arbitrum Nova integration

January 9, 2023 1 min read

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

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

January 6, 2023 1 min read

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

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

January 5, 2023 1 min read

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

SideKick Finance launches decentralized NFT crowdfunding platform

January 4, 2023 1 min read

Decentralized finance (DeFi) platform SideKick Finance has launched JumpStart, a decentralized non-fungible token (NFT) crowdfunding platform. JumpStart is deployed across multiple Ethereum Virtual Machine networks and aims to provide a scalable and interoperable crowdfunding platform for use cases including gaming, music, art and charity. The platform uses NFTs and smart contracts to allow creators to crowdfund projects securely, transparently and decentralized, while also offering contributors the ability to verify and

NFT creator allegedly spent investor money on crypto gambling addiction

January 4, 2023 1 min read

DNP3, a well-known streamer and founder of several NFT projects, has admitted to using investor funds to support his gambling addiction at the Stake crypto casino. In a statement, DNP3 revealed that he had become addicted to gambling and had spent all of his life savings at the casino. He also acknowledged using investor funds in an attempt to recover his losses, which he called “wrong for so many reasons.”

COO of RTFKT falls victim to NFT phishing scam, loses collection valued at $175,000+

January 4, 2023 1 min read

The Chief Operating Officer of RTFKT, a crypto brand owned by Nike, had his NFT collection worth at least $175,000 stolen in a phishing scam. According to Nikhil Gopalani, who is the COO and tweeted about the incident to the Clone X community, he was hacked by someone who used the same phone number as his Apple ID and sold all of his Clone X and other NFTs. OpenSea activity

NFTpay Integrates with Polygon Blockchain

December 30, 2022 1 min read

Florida-based company NFTpay has announced support for the Polygon blockchain. NFTpay enables blockchains to accept credit card payments for non-fungible tokens (NFTs). In addition to Polygon, NFTpay already supports Ethereum, Algorand, Binance Smart Chain, Fantom, Avalanche, EOS, Solana and Cronos. The company aims to simplify the process of buying and selling NFTs by allowing sellers to easily add a credit card option to their sales process. NFTpay verifies users securely

China State-Backed NFT Trading Platform to Launch in January

December 29, 2022 1 min read

A non-fungible token (NFT) marketplace called “China Digital Asset Trading Platform” is set to launch on January 1, 2023, according to state media outlet China Daily. The platform was founded by a Beijing-based private firm, Huaban Digital Copyright Service Center, and two state-backed entities, China Technology Exchange and Art Exhibition China. It has obtained a compliance license through China Technology Exchange and will offer NFT and digital copyrights trading services.