The proliferation of layer 2s, which have been developed to help Ethereum scale and increase its capacity, has also contributed to bringing down fees, the report noted. While the development is positive for Ethereum users who can execute transactions cheaper than before, it impacts ETH’s supply by keeping it inflationary by burning fewer tokens than new issuance. Source
The NFTs are available for free. To claim a CR7 ForeverZone Box, users have to open the Binance Promotion Page, complete and pass KYC verification, and collect an NFT. Portuguese football legend Cristiano Ronaldo and crypto exchange Binance have announced the release of a non-fungible tokens (NFTs) collection. Called the CR7 ForeverZone, the NFT collection is the third time Cristiano Ronaldo and Binance have collaborated to offer the player’s fans “unprecedented experiences” in the Web3 world. Myself and #Binance are giving away 50,000 free surprises! And one lucky winner will win the…
A bipartisan parliamentary committee has urged the government of the United Kingdom to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets. In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights arising from the ease and speed at which NFTs can be minted, compared with the slow process for artists looking to enforce their rights. “Artists are at risk of seeing the fruits…
The Culture, Media and Sport Committee, which includes representatives from several political parties, started an inquiry into non-fungible tokens in November. Source
The reason for the surprise was that the average sale price for CrypToadz is typically under $1,000, making the sudden hundredfold increase in value in a short period of time seem questionable to experts. On October 9th, an anonymous crypto user bought a CrypToadz NFT on the popular NFT marketplace OpenSea for a shocking price of 1,055 Wrapped Ethereum (wETH), equivalent to around $1.6 million. This expensive purchase of a single non-fungible token representing one of over 6,000 illustrated amphibians raised eyebrows within the NFT community. The Surprising Price for…
One of the CrypToadz nonfungible tokens (NFTs), whose average price doesn’t exceed $1,000, was bought for an astonishing 1,055 Wrapped Ethereum (wETH), an equivalent of $1.6 million. The deal occurred on the OpenSea market on Oct. 9. The NFT represents “a small, warty, amphibious creature,” one of the 6,969 units minted by the pseudonymous digital artist Gremplin. The CrypToadz collection was launched during the NFT boom of 2021 and surpassed a trading volume of 12,000 Ether (ETH) ($38 million) during its first 10 days on the market. The purchasing wallet…
China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its very own metaverse and nonfungible tokens (NFTs) platform. According to a recent announcement, China Daily is awarding 2.813 million Yuan ($390,000) to a third-party contractor that can design the NFT platform within its budget specifications. The contractor can be “either a Chinese or foreign” firm specializing in blockchain, China Daily wrote. In addition, the mainnet of the blockchain firm that wins the contract must be capable of handling upwards of 10,000…
The astrology-themed NFT project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an October 9 report from blockchain security firm Certik. The project’s deployer account called the ‘withdrawToken’ function on both the NFTMerge and AdwardCenter contracts, removing over $1 million in LSC from them. These tokens were then swapped for Binance USD (BUSD) stablecoin and sent to another account. #CertiKSkynetAlert We can confirm an exit scam on @AstrAstrol75591 LSC token Bsc: 0x2b3559c3DBdB294cbb71f2B30a693F4C6be6132d EOA 0x9Ef withdrew LSC tokens from the AwardCenter contract. Tokens were then…
Cutbacks at Yuga Labs Bored Ape Yacht Club creator Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.” The exact number of layoffs hasn’t been specified, however, in an Oct. 6 blog post shared via X ( formerly Twitter), Yuga Labs CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities.” Yuga Labs is announcing a restructuring that will better focus our team on our core priorities. While certain roles have been impacted,…
If there’s ever been an artist suited for the digital renaissance of putting art on the blockchain, it would be Matt Kane — a traditional artist who transitioned into digital art by writing his own software and pushing boundaries impossible in the physical art world. Kane is most known for his collection “Gazers,” which launched in December 2021 and is considered by many to be an OG among generative artists. He recently released his collection Anons, which is centered around understanding identity through art and immortalizing true anons from yesteryear.…