Tag: NFT

4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading

NFT wash trading creates a phoney appearance of popularity to push up prices and rip collectors off. But you can learn how to spot the signs. Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme. 10% of Blurs total token supply was distributed to users based on their trading activity in its second token reward scheme from Feb. 14. The platform has seen a surge in trading volume in comparison…

NFT Artist Beeple Opens Digital Art Gallery in Charleston

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What is NFT rarity, and how to calculate it?

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An NFT’s rarity plays a role in its perceived cultural and artistic significance. For example, an nonfungible token (NFT) that is the only one of its kind and possesses significant cultural or historical value may be considered a rare and must-have artifact. But why is NFT rarity important? NFT rarity is important because the market worth and appeal of an NFT can be significantly influenced by the nonfungible token’s rarity, which can also influence its resale value. Moreover, NFT collectors frequently look for unusual and distinctive nonfungible tokens to add…

Starbucks Launches its NFT Collection Which Sold Out in Minutes

Just like the name, the Siren Collection featured the firm’s iconic brand Siren and they were priced at $100 each. American multinational chain of coffeehouses, Starbucks Corporation (NASDAQ: SBUX) has launched its latest Non-Fungible Token (NFT) collection dubbed “The Siren Collection.” The collection made up of 2000 collectibles dubbed stamps was floated under the Odyssey program and reportedly sold out in just about 18 minutes. This record selloff was despite the hitches that the launch caused as users experienced some forms of difficulty accessing the website which was overwhelmed with…

NFT Company Palm Teams up with Pussy Riot to Foster Activist Art

Additionally, Palm and Tolokonnikova will continue to empower artists through an upcoming feminist art contest set to take place in April during the NFT.NYC conference. PalmDAO is calling on activists and artists to submit their work to the competition. From there, Tolokonnikova will select five finalists to be showcased during the event, where one winner will earn $1,000 and a special display of their work. Source

Mirror Launches New Feature to Empower NFT Creators

Mirror, a platform designed as a mainstream publishing outfit for Web3.0 innovators has launched its latest product dubbed “Subscribe to Mint.” As announced by the firm, the new feature is designed to help expand Mirror’s hallmark web3-native publishing features like Web3 Subscriptions and Writing NFTs to make it an even more powerful tool for creators and their projects. Subscribing to Mint will enable creators to gather to harness existing tools on Mirror, affording them the luxury to compose with Writing NFTs. The idea behind the Mirror protocol is to enable…

Ordinals team criticizes Yuga Labs’ handling of bitcoin NFT auctions

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The Ordinals team recently raised concerns about Yuga Labs’ handling of bitcoin NFT auctions. Yuga Labs allegedly set a negative precedent by requiring all bidding funds to be transferred to their address, violating the principle of self-custody.  Yuga Labs, the parent company of the popular non-fungible token (NFT) collection, Bored Ape Yacht Club (BAYC), recently concluded a successful 24-hour TwelveFold auction, which generated an impressive $16.5 million and awarded 288 NFTs to the highest bidders.  However, Yuga Labs is now facing criticism from some users who are unhappy with the…