Tag: NFT

Fractional NFT Is The New Trend To Unlock Barrier-Less Investment

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Can you imagine how a virus spread and made the entire world go digital for literally everything? Schools, jobs, shopping, food, and almost everything went virtual. It was difficult for most of us to move from physical to digital. However, from a business perspective, the year 2020 gave a potential boost to various businesses, especially startups. The Fractional NFT market went mainstream during this period and exploded more than anticipated. In the early days, NFTs were exclusively used by passion-led creators. But then, we have come a long way while…

New Year Brings Strong NFT Sales, Up 26% in First Week of 2023 With Top 5 Blockchains Seeing Double-Digit Increases – Markets and Prices Bitcoin News

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The first week of 2023 saw an upswing in non-fungible token (NFT) sales as seven-day volume increased 26.01% compared to the previous week, totaling approximately $208.99 million in NFT sales. Additionally, the top five NFT-issuing blockchains saw increases over the last week. Bored Ape NFT Collection Leads the Way with $19 Million in Sales, 52.82% Increase from Previous Week According to NFT sales statistics, the first week of the new year saw a 26.01% increase compared to the last week of 2022. Cryptoslam.io metrics show that there were 1.2 million…

Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions – Bitcoin News

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Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On Friday, Wyre stated that it is now “exploring strategic options.” Crypto Industry Turmoil: Wyre Modifies Withdrawal Policy, Topps Suspends NFT Marketplace Transactions Three days ago on Jan. 4, Bitcoin.com News reported that crypto payments firm…

Bluechip NFT project Moonbirds signs with Hollywood talent agents UTA

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The NFT-focused company was founded by early-stage Facebook and Twitter investor Kevin Rose, and designer Justin Mezzell in February 2022. The company also has the Proof Collective and Oddities NFT collections in its catalog. Announcing the move via Twitter on Jan. 6, Rose suggested that the goal of the deal is to get the Moonbirds brand known on a “global” mainstream scale, as opposed to just being recognized as a big hitter in the Web3 space. “What does UTA bring to the table? They are 1,400 people strong, with divisions…

NFT project accepted $3M to move its collection to Polygon

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The team behind y00ts and DeGods were paid $3m to move their collections off Solana and onto Polygon, according to a January 6 announcement from the company. The statement was made on Discord and copied to Twitter by Frank III, founder of the two projects. Here is a screenshot of our latest @y00tsNFT Discord announcement. pic.twitter.com/qWxjBsexv6 — Frank III (@frankdegods) January 6, 2023 The developers had previously announced on Dec. 27 that the projects would be moving to Polygon. This was widely seen as a possible death blow to the…

NFT Steez and Lukso co-founder examine the implications of digital self-sovereignty in Web3

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Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities. One is federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it? On this episode of NFT Steez met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to discuss the state of blockchain-based…

Industry seeks solutions for NFT image-hosting disasters

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The image-hosting aspect of nonfungible tokens is in need of major improvements. First, people saw NFTs on FTX break after it declared bankruptcy. More recently, NFTs on the marketplace Magic Eden showed some questionable images instead of their actual thumbnails.  As the problem continues to persist, Cointelegraph reached out to various industry executives to get their thoughts on how NFT projects can solve the issue. NFT marketplace Magic Eden showing pornographic images. Source: Twitter From using dependable blockchains to exploring the storage technologies available in the Web3 space, various executives working…

Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT ‘fraud’

The developer of a Mutant Ape Yacht Club knock-off collection — Mutant Ape Planet — has been arrested in New York, charged with allegedly “defrauding” investors of $2.9 million in a “rug pull scheme.” The arrest took place on Jan. 4 at the John F. International Airport in New York, with homeland security agent Ivan J. Arvelo alleging that French national “Aurelien Michel perpetrated a rug pull scheme” and stole “nearly $3 million from investors for his own personal use,” stating: “Purchasers of Mutant Ape Planet NFTs thought they were…