Tag: NFT

FIFA shifts NFT platform to new Ethereum-compatible blockchain

The Federation Internationale de Football Association (FIFA) plans to launch a new blockchain network to support its non-fungible token (NFT) collectibles, the organization announced on April 30. FIFA will launch its “FIFA Blockchain,” with Ethereum Virtual Machine (EVM) compatibility and aims to provide “better performance, future features, and improved scalability.” As part of the move, FIFA Collect — its official NFT collection — will migrate from the Algorand blockchain to the new FIFA Blockchain. The migration is scheduled to begin no earlier than May 20, FIFA said. FIFA announces new…

FTX sues NFT Stars and Kurosemi in push to recover tokens

Bankrupt crypto exchange FTX has filed lawsuits against the non-fungible token marketplace NFT Stars and the blockchain gaming firm Kurosemi, which operates as Delysium, accusing them of withholding tokens they owed. The lawsuits, both filed in the Delaware bankruptcy court, alleged that NFT Stars and Delysium failed to deliver all the tokens paid for by FTX despite repeated attempts to resolve the matter. FTX claimed in an April 28 statement that it made “numerous unanswered attempts” to engage with both firms, and it would be “contacting numerous other token and…

PENGU rallies with strong NFT sales – new ATH soon?

Key Notes PENGU reached a local high of $0.0141 earlier today. Pudgy Penguins NFT collection saw a 300% rise in sales volume. Analyst expects a pullback to key support levels before another breakout. Pudgy Penguins, a popular non-fungible token collection of 8,888 penguins, started to gain momentum as World Penguin Day, April 25, came closer. The NFT collection, featuring flightless birds, recorded a spike in sales as the leading firms in the industry, CoinGecko, VanEck, Uniswap, MetaMask, and Phantom, shared their penguin-styled collectibles on X on World Penguin Day. A…

Nike sued for $5 million over its shutdown of NFT platform RTFKT

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Nike has been hit with a class-action lawsuit that accuses the sportswear giant of operating a rug pull for shuttering its non-fungible token (NFT) platform RTFKT in January.  A group of RTFKT users led by Jagdeep Cheema claimed in the proposed class suit filed in a Brooklyn federal court on April 25 that they suffered “significant damages” as a result of Nike touting its sneaker-themed NFTs to gain investors, then shuttering the platform. The suit claimed the NFTs were unregistered securities, as Nike sold them without registering with the Securities…

NFT project plans crowdfund purchase of Cold War nuclear bunker

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A doomsday-themed Solana NFT project is looking to sell 100,000 non-fungible tokens (NFTs) to buy a Cold War-era nuclear bunker in Rutland, England. Dead Bruv, the creators of the narrative-driven NFT project Meatbags, plan to mint 100,000 NFTs, with Meatbags holders being airdropped 10,000. The the rest will be sold off starting April 21, starting at $14 a pop, according to a post on the Meatbags X account.  Holders will gain entry into a decentralized autonomous organization (DAO), called the Billionaire Bunker Club, a “fully decentralized, community-governed real-world asset onchain,”…

NFT Marketplace Magic Eden Launches Season 2 Rewards Program

Magic Eden has launched Season 2 of its rewards program, offering users new ways to earn incentives for trading non-fungible tokens (NFTs), swapping tokens, and staking on the platform. Magic Eden Enhances User Rewards with Season 2 Launch The NFT marketplace Magic Eden has introduced Season 2 of its rewards program, designed to incentivize user […] Source CryptoX Portal

NFT sales plunge 4.7% to $95.9m, CryptoPunks sales fall 80%

Despite the modest crypto market recovery, the NFT market sales volume has dropped by 4.7% to $95.9 million. Bitcoin (BTC) has recovered to the $85,000 level. At the same time, Ethereum (ETH) has shown a modest 2.4% recovery in the last seven days and is hovering at the $1,600 level. The global crypto market cap is now $2.69 trillion, up from last week’s $2.63 trillion. Surprisingly, while sales are down, market participation has surged with NFT buyers increasing by 96.6% to 252,354. NFT sellers have also grown by 79.2% to…

BNB Chain Dominates NFT Market, Daily Sales Reach $8.2M

Key Notes The NFT sales volume increased by 66% in 24 hours. BSC dominated the market with over $8 million in daily sales. NFT sales on the BSC network reached a new all-time high. Investors are showing strong interest in non-fungible tokens (NFTs), with BNB Smart Chain (BSC) stealing the spotlight from Ethereum and Polygon. According to data from CryptoSlam, the daily NFT sales volume increased by 66%, reaching $21.5 million. The rise comes with increased interest from buyers. CryptoSlam data shows that the number of buyers rose by 9%…

Bybit shuts down four more Web3 services after axing NFT marketplace

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Bybit is shutting down more of its Web3 services after axing its non-fungible token (NFT) marketplace earlier in April. According to an April 16 announcement, the exchange is shutting down its Cloud Wallet (a hosted custodial wallet​), Keyless Wallet (non‑custodial multiparty computation wallet with no seed phrase​), NFT marketplace, multi‑chain decentralized exchange (DEX)​ DEX Pro and the Swap & Bridge cross‑chain swap widget​ on May 31. Source: Bybit Web3 On April 28, Bybit will also discontinue Web3 Points, its internal loyalty program that rewarded onchain activity with redeemable points for fee discounts, airdrop boosts and early-bird perks.​…

NFT trader faces prison for $13M tax fraud on CryptoPunk profits

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A non-fungible token (NFT) trader could face up to six years in prison after pleading guilty to underreporting nearly $13 million in profits from trading CryptoPunks, according to the US Attorney’s Office for the Middle District of Pennsylvania. Waylon Wilcox, 45, admitted to filing false income tax returns for the 2021 and 2022 tax years. The former CryptoPunk investor pleaded guilty on April 9 to two counts of filing false individual income tax returns, federal prosecutors said in an April 11 press release. Back in April 2022, Wilcox filed a…