Tag: NFT

Yuga Labs says SEC has dropped its investigation into the NFT firm

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Non-fungible token (NFT) conglomerate Yuga Labs says the US Securities and Exchange Commission has closed its investigation into the company. “After 3+ years, the SEC has officially closed its investigation into Yuga Labs,” the company said in a March 3 X post. “This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.” Bloomberg first reported in October 2022 that the SEC opened a probe into Yuga Labs to determine if certain NFTs were more like traditional stocks and, therefore, securities under US…

Trump company files trademarks for branded metaverse, NFT marketplace

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Trump-owned company DTTM Operations filed for trademarks on Feb. 24 for the word ‘TRUMP’ in connection with a metaverse and NFT marketplace built around the US President’s brand. In this Trump-themed virtual world, users would be able to shop for physical and virtual goods, dine in a Trump restaurant, enjoy simulated transport by limousine, aircraft, train, and automobile, and watch public service programs about social issues, current events, and fundraising. Notably, the Trump metaverse would also feature virtual training services, personal coaching services, and guided tours of hotels and public…

NFT sales surge 19.6% to $152.9m, Doodles dethrones Pudgy Penguins

The NFT market has rebounded despite crypto price weakness, with Bitcoin dipping to $96,000 and Ethereum unable to break past $2,700, hovering around $2,600. As per the latest CoinMarketCap, the global crypto market cap has dropped to $3.18 trillion from last week’s $3.24 trillion. According to CryptoSlam data, NFT sales volume has grown to $152.9 million, marking a 19.60% increase from the previous week. The market has seen expanded participation across all metrics. The weekly data reveals growing market activity: NFT sales volume rose to $152.9 million from $112.7 million…

SEC Drops OpenSea Investigation Easing Pressure on NFT Market

The U.S. Securities and Exchange Commission (SEC) is closing its investigation into major non-fungible token marketplace OpenSea, the platform’s founder and CEO Devin Finzer said on social media. The regulator issued a Wells notice against OpenSea in August 2024, indicating it was planning on pursuing an enforcement action against it. The regulator alleged the platform may have been operating as an unregistered securities marketplace. The SEC’s move comes as the regulator is slated to vote on a deal negotiated with Coinbase to drop its lawsuit against the exchange, which is…

Trump-Biden bet led to obsession with ‘idiotic’ NFTs —Batsoupyum, NFT Collector

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Batsoupyum is one of the most prolific and respected NFT and digital art collectors there is. Prior to discovering NFTs, he’d invested in Bitcoin and participated in various venture and liquid token funds.  But crypto was more of a side interest than a full time job. That changed in late 2020 when he tried to place a bet on the Biden vs. Trump election on Polymarket. Whilst stirring the pot on the site, he ended up getting connected to Polymarket’s CEO, Shayne Coplan.  “I went on that website and I…

‘DOOD’ Token Revealed: Doodles’ Latest Play in the High-Stakes NFT Arena

The non-fungible token (NFT) enterprise Doodles has unveiled plans to debut a Solana-powered digital currency, capped at roughly 10 billion units. NFT Project Doodles Sets 10 Billion ‘DOOD’ Tokens in Motion On Thursday, the brand’s X account proclaimed the arrival of *DOOD*, its official blockchain asset. “Introducing DOOD, the official token of Doodles,” the announcement […] Source CryptoX Portal

NFT sales drop 33% to $119.5m, Pudgy Penguins still in lead

The NFT market has pulled back sharply alongside a broader crypto selloff, with Bitcoin falling to $96,000 and Ethereum tumbling to $2,600. The latest data shows that the overall crypto market cap has contracted to $3.13 trillion from last week’s $3.5 trillion. According to CryptoSlam data, NFT markets have cooled this week as both prices and trading activity fell. The total sales volume reached $119.5 million — a 33% drop from the previous week’s activity. The market data shows an ongoing pullback in trading: NFT sales volume has fallen to…

NFT sales hit second-highest level of 2024 in December, data shows

Ending the year on a high note, December’s sales of non-fungible tokens climbed to $877 million, making it the second-best month in 2024. Blockchain-based digital collectibles had a strong December, with $877 million in sales, making it the second-best month of 2024. This boost wrapped up a wild year for the NFT market, which saw a sharp recovery in the last quarter. CryptoSlam data shows that NFT sales for 2024 finished at $8.83 billion, surpassing 2023 by over $100 million. While the 1.1% growth might not seem huge, it highlights…