Tag: NFT

Here’s how to prevent NFT theft, according to industry professionals

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As nonfungible tokens (NFTs) attract more users, they also capture the eyes of scammers. Bad actors in Web3 have set their sights on digital collectibles, with millions being lost through scams and various attacks.  However, according to professionals working in the Web3 space, there are multiple ways and tools to prevent being a victim of NFT theft. In addition, users can also take various actions after losing their digital collectibles to hacks. Ronghui Gu, the co-founder and CEO of blockchain security firm CertiK, told Cointelegraph that the first and most…

Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them – Featured Bitcoin News

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Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used, and how this new use case will affect bitcoin nodes and fees in the future. Ordinals Enable Bitcoin NFTs Courtesy of Taproot A newfound use case for the Bitcoin chain is now being tested by…

China’s Hainan to boost NFT oversight as digital yuan trial ramps

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Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. In a separate announcement, the People’s Bank of China (PBoC) also announced that it is working on new features for its Central Bank Digital Currency (CBDC) pilot program, referred to as the digital yuan or eCNY. NFT oversight In a public notice posted on Jan. 29, Hainan’s market regulator and nine other agencies from the…

Bitcoin Community Erupts In Existential Debate Over NFT Project Ordinals

The protocol’s opponents argue that Ordinals will compete with traditional payment transactions by crowding blocks and driving up transaction fees. Rodarmor disagrees. “To that I say, well, there’s this fee market pricing mechanism that bitcoin has, that lets people pay the amount of fees according to how valuable doing the transaction is to them,” Rodarmor told CoinDesk in an interview. “And that applies both to financial transactions and to inscriptions. And so, the fee market already handles what people pay for transactions, what they think they’re worth and then miners…

Top 5 NFT Presents To Surprise Your Special Person

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A digital portrait of the two of you together A digital portrait of the two of you together can make for a unique and personal NFT gift. There are many artists and studios that specialize in creating digital portraits, and some may even offer the option to have the portrait animated or in 3D. You can also have the portrait framed in a virtual world or game to add a special touch. You can also find several marketplaces and platforms where you can buy and sell NFTs, and you can…

Artists Weigh In on the Battle Over NFT Creator Royalties

“No other industry was affected by piracy like music was in the early 2000s,” Guerrero said, explaining that royalty payments suffered as streaming and torrent services gained popularity. “Musicians are already fighting for royalties of any use of music independent of Web3, but some big voices in the space are saying that musicians should only be paid through actual NFT sales, and in some cases, royalties only through secondary sales.” Source artistsBattleCreatorNFTRoyaltiesweigh CryptoX Portal

NFT trademark stoush heads to trial in Manhattan

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The trademark infringement trial between French luxury brand Hermès and digital artist Mason Rothschild is set to go ahead on Jan. 30 in a Manhattan federal court. The luxury brand accused the nonfungible token (NFT) artist of trademark infringement for promoting and selling MetaBirkins, an NFT collection said to be inspired by the group’s Birkin bags. The trial and its related lawsuit in the United States District Court for the Southern District of New York can be first traced back to Jan. 14, 2022, when Hermès first filed a complaint against Mason Rothschild…

Breaking Down 5 NFT Collections by Sales Volume  – Markets and Prices Bitcoin News

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Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have collectively accrued $12.7 billion in sales volume. 5 Non-Fungible Token Projects Capture $12.7 Billion in Sales Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 out…