Tag: NFT

Illuvium DAO blocks NFT pack-opening event involving 3AC founder Su Zhu

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The community supporting Illuvium, an interoperable blockchain game, has demonstrated the power of decentralized autonomous organizations (DAOs) after blocking a scheduled nonfungible token (NFT) pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. Warwick was scheduled to go against Zhu in what’s called an “Influencer Illuvitars D1sk Battle” where prominent crypto personalities go against each other to open NFT packs. However, due to the controversies surrounding Zhu and 3AC, the Illuvium community expressed concerns over the potential risks of being associated with Zhu, who…

Bitcoin core dev calls out ‘misleading’ auction selling his code as an NFT

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One of the original core developers behind Bitcoin (BTC), Luke Dashjr, has taken to social media to call out an auction site that has used his name and code without his consent to create and sell a “misleading” NFT. The core developer said he hasn’t been the first Bitcoin developer to have his name or his work used in this way. In a Feb. 27 post on Twitter, the developer revealed a non-fungible token (NFT), featuring a picture of code he wrote, was sold at auction site for 0.41 Bitcoin (BTC),…

Korea’s Lotte Group Partners Multi-Chain Network Polygon on NFT Global Drive Scheme

Lotte plans to push its NFT endeavors with the help of the scalable Ethereum-compatible network provided by Polygon.  South Korean multinational conglomerate Lotte Group partnered with Polygon to expand its non-fungible token (NFT) business. According to reports, Lotto plans to use the popular blockchain to usher its NFT affairs onto the global market. Lotte’s marketing and NFT hub, Daehong Communications, also provided further information on the Polygon partnership. The collaboration begins with rebranding the profile picture (PFP) digital collection of BellyGom NFTs or Lotte Homeshopping. According to Daehong, the rebranded collection will be…

Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’

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According to data from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially as Machi Big Brother — dumped 1,010 tokens for a total of 11,680 Ether (ETH) or $18.6 million in the space of 48 hours. In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman highlighted the trading activity over the previous two days, and noted that it’s “likely the largest NFT dump ever.” The major selling event included 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and…

NFT Sales Soar 138% in Past Week, Blur Market Dominates This Week’s ETH-Based NFT Sales – Markets and Prices Bitcoin News

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Non-fungible token (NFT) sales have soared this past week, climbing 138.15% higher than the week before. Sales recorded between last Friday and Feb. 24, 2023, indicate that $801 million in NFT sales have been settled over the last seven days. Ethereum Digital Collectibles and Mutant Ape Yacht Club Lead NFT Sales Surge While crypto asset prices took a step back on Friday, the last seven days have shown a significant rise in NFT sales compared to the previous week. Bitcoin.com News reported last week that NFT sales had surged 43%,…

NFT Steez and Victor Solomon discuss building in Web3 and the metaverse

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NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey in bridging his in-real-life artwork with NFTs and how he cultivates the community and culture that surrounds his art.  Solomon’s work centers around basketball — not just the object, but the sport itself. For Solomon, the inspiration for his work comes from wanting to play hockey in his early childhood. At the time, this was a sport that was not accessible for him, but it led to his eventual discovery of basketball, which he…

Dapper Labs to Cut Down Staff by Another 20% amid Rebounding NFT Market

The CEO is linking the new job cuts to restructuring. Barely four months after laying off 22% of its staff, Dapper Labs is set to dismiss another 20% of its remaining staff. According to the letter sent to the team by Dapper Labs CEO Roham Gharegozlou, the latest decision is in line with the company’s restructuring plans. Part of the letter reads: “We are restructuring the Dapper Labs organization to improve our focus and efficiency, strengthening our position in the market and better serving our communities.” Gharegozlou also noted that…

Stop treating NFT drops like ad campaigns

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The rise of Non-Fungible Tokens (NFTs) has created a new frontier for brands looking to engage with consumers in a more meaningful way. However, as more and more brands enter the space, many are discovering that what they have committed to actually requires methodical, continuous effort and engagement that escalates with each milestone. Basically, brands are finding themselves in a type of ‘engagement Ponzi scheme’ that their marketing teams are not equipped to handle. Here’s why.  The challenge stems from two things: Many users ask for “utility” from NFTs, but…