Tag: NFT

Google Play Joins The Tokenization Bandwagon With Blockchain Gaming And NFT Recognition

According to a recent report by VentureBeat, Google Play has updated its policies to allow blockchain-based digital content, including non-fungible tokens (NFTs) and other tokenized digital assets, in its app store.  The move is in response to the growing interest in NFTs and their unique user experiences. Google has been working with Web3 game makers such as Mythical Games to bring blockchain gaming recognition to the masses. Google Play’s Blockchain And NFT Policy Update Previously, blockchain game companies had difficulty distributing their games, as they often relied on the open…

Google Play Store officially allows NFT games, but not gambling ones

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The Google Play store now allows video game publishers to sell nonfungible token (NFT) games in its store, according to a July 12 blog post from the store’s group product manager, Joseph Mills. In the post, Mills states that Google Play is “pleased to share that we’re updating our policy to open new ways to transact blockchain-based digital content within apps and games on Google Play,” including “boosting user loyalty through unique NFT rewards.” 1) A new blockchain-based content policy that states that devs must complete a declaration for apps…

Jackson Pollock Studio Releases Inaugural NFT Collection

In collaboration with Web3 art collective Iconic Moments, the “Beyond the Edge,” collection features four perspectives from Pollock’s studio floor, where he splattered and dripped paint in his iconic style. The artwork features elements from his paintings including “Number 3,” “Blue Poles” and “Convergence,” which currently reside in museums across the globe. Source

Blockchain gaming platform creates refundable NFT program

Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refunds for nonfungible token (NFT) purchases.  In an announcement sent to Cointelegraph, the team explained that within the program, users who acquire NFTs called “Reverties” are eligible to get a full USD Coin (USDC) refund. The project also allows users to stake this new series of NFTs in Spielworks’s game called Dungeon Master and purchase them using USDC via a separate minting mechanism. Through the partnership, Spielworks will leverage Mycelium Network…

DeFi borrower uses luxury watch-backed NFT as collateral for a loan

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A nonfungible token (NFT) collector shared the story of how a decentralized finance (DeFi) loan was collateralized through a luxury watch and was facilitated with an NFT representing the asset.  On July 11, pseudonymous DeFi project adviser CirrusNFT explained how a user was able to borrow $35,000 from another user by using an NFT that represented a physical item as collateral for the loan. According to the exec, a user sent a Patek Phillipe luxury watch to 4K Protocol, an escrow firm that deals with NFTs backed by physical items.…

BAYC NFT floor price drops 90% from $600,000 in 18 months

The floor price of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) is down by 90% in roughly 18 months as the NFT scene grapples with bear market conditions that spilled over from 2022. BAYC floor price falling The BAYC NFTs, a collection of 10,000 unique Bored Ape NFTs, have been significantly impacted by the current bear market conditions, which can be traced to last year. The BAYC NFT floor price, which once soared to $600,000 in 2021, is now down by over 90%. According to analytics from OpenSea, an NFT marketplace,…

ZachXBT’s research cited in Canadian NFT rug pull class action lawsuit

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The investigative work of independent blockchain sleuth ZachXBT has been cited in a class action lawsuit in Canada against Boneheads, an alleged $3.1 million nonfungible token rug pull. Tweeting on July 7, ZachXBT highlighted that lawsuit as he reiterated accusations that the Boneheads team “quickly disappeared and spent the mint funds on BAYCs [Bored Ape Yacht Club NFTs], luxury goods, and other items never fulfilling the roadmap.” “Yet another case where my research has been cited,” ZachXBT added. A class action lawsuit was filed in Canada against the Boneheads team…

Sega exec calls P2E games ‘boring,’ Tom Brady’s NFT firm switches it up and more

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Sega co-COO yawns at P2E games The co-chief operating officer of Sega has called play-to-earn games “boring” amid the firm’s retreat from franchising some of its hottest properties to the blockchain gaming space. Bloomberg reported on July 6 that Shuji Utsumi, the co-COO of the gaming company behind Sonic The Hedgehog, said Sega would shelve plans to develop blockchain games for now. Third-party blockchain gaming projects would also not get access to Sega’s biggest franchises, with Utsumi adding: “The action in play-to-earn games is boring, what’s the point if games…