“We used to believe the best way to handle royalties is to give both parties, creators and traders, the right to choose,” the marketplace wrote on Twitter. “Putting belief aside, if there was anything self-evident in crypto, it’s the ‘code.” Source
Electronics giant Sony has filed a patent that describes the usage of NFT (non-fungible token) and blockchain technology to track the history of in-game digital assets. The filing describes the usage of this tech in order to record the story of modifications and ownership of the digital assets from a given game. Sony Might Use Blockchain to Track in-Game Items Sony has filed a patent to use NFT and decentralized ledger technology in order to record the movements and changes undergone by in-game digital assets. The filing, titled “Tracking Unique…
Cryptocurrency and blockchain technology firms continue to feature in the world of Formula 1, with a nonfungible token (NFT) making its mark on Red Bull Racing’s vehicles to close out the 2022 calendar. Red Bull Racing dominated the F1 season, topping the constructors’ standings, while Max Verstappen closed out the drivers’ standings for a second consecutive season. With the curtain closing on 2022’s race schedule in Abu Dhabi on Nov. 20, the team’s cars will feature an NFT on their livery in what is being called a first in F1.…
In this week’s newsletter, read about how the FTX contagion led to the sale of a collection containing high-ticket nonfungible tokens (NFTs). Check out the struggles in onboarding artists to Web3 through NFTs and find out about OpenSea’s decision to finally enforce royalties on all collections within its NFT marketplace. In other news, a tool that allows layer-2 networks to showcase NFTs on social platforms like Twitter was released. And don’t forget this week’s Nifty News featuring Nike’s Dot Swoosh NFT platform. FTX contagion victim Deepak.eth puts NFT collection up…
During the last five days, non-fungible tokens (NFTs) stemming from the Cryptopunks NFT collection have surpassed Bored Ape Yacht Club (BAYC) NFTs in terms of floor value. Statistics over the last ten days show the floor value of Cryptopunks NFTs remained above the 60 ether zone, while BAYC-based NFT floor values dropped below the 60 ether range. Cryptopunk Floor Values Race Ahead of Bored Ape NFTs Statistics recorded on Tuesday, Nov. 15, 2022, indicate that Cryptopunks NFTs are now more valuable than Bored Ape Yacht Club (BAYC) NFTs, as far…
Why NFT Tax-Loss Harvesting Remains a Challenge for Investors Source
Nike’s “Dot Swoosh” platform lands Footwear and apparel giant Nike has unveiled its latest foray into the non-fungible token (NFT) and Metaverse space with the launch of an NFT marketplace named “.Swoosh” While .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the eb3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base. ✅ About .SWOOSH ♂️ .SWOOSH is a platform for @Nike‘s virtual creations, for them to be more accessible and to…
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“Figge, Beeple, and the WENEW team have found a way to create a captivating serialized story for Web3, while also managing to tap into the passion people have for their digital avatars and customization,” said Greg Solano, co-founder of Yuga Labs, in a press release. “Storytelling and world-building are foundational at Yuga and I’m thrilled that we get to work with the creative mind hive at WENEW in a much more robust way.” Source
But for the donor, it’s a big deal. Probably the most important question is whether the donor can claim a tax deduction, and if so, for how much. Typically, when an art collector donates an artwork to an art museum, the collector can deduct the value of the donated artwork from their taxable income, lowering their federal tax bill. Why? Art museums are usually charities and donations to charities are tax deductible. Source