A widely followed crypto strategist believes that Bitcoin (BTC) is gearing up for a massive rally next year. Analyst Michaël van de Poppe tells his 642,700 Twitter followers that he expects Bitcoin to ignite big rallies toward his targets of $42,313 and $50,324 by June 2023 based on key Fibonacci levels. “Relief rally targets for […]
The post Top Analyst Forecasts Massive 2023 Bitcoin Rally, Updates Outlook on Ethereum and Cosmos appeared first on The Daily Hodl.
Since January 2022, the entire crypto economy has shed $1.36 trillion in value, as the market capitalization dropped from $2.34 trillion to today’s $979 billion. While the crypto economy is down in value, trade volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) […]
Following the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) banning Tornado Cash and a number of associated Ethereum-based addresses, an anonymous Tornado Cash user has dusted a swathe of well known wallets tied to ENS domain names. Onchain data shows that a number of celebrities and organizations received 0.1 ether from the platform. […]
The number of Ethereum Name Service (ENS) domains is nearing the two million mark as 1,888,209 ENS names have been etched into the Ethereum blockchain to date. The project recently detailed that July saw the largest monthly rise in revenue scoring 5,400 ether worth roughly $2.48 million during the course of the month. ENS Registrations […]
Before it expired, the offer stood at approximately 10x the amount of the domain's last sale.
On Tuesday, the Ethereum Name Service, or ENS, domain Amazon.eth received an offer for 1 million USDC (a stablecoin pegged to the U.S. dollar) from an anonymous wallet address on OpenSea. The offer to buy the ENS domain went unanswered however, and no transaction took place. This is despite the last sale of the domain name being five months ago for 33 Ether (worth around $100,000 at that time).
The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea
It is unclear at the time of publication whether the owner simply was not informed of the offer, or did not consider it to be near fair value, or if the bidding and domain owner accounts were linked in an attempt to boost the price of the asset (in what is known as a "wash trade"). According to data from Opense, other bid offers for the ENS domain stand at just around $6,200 USDC. The domain name is verified as official by ENS and is owned by anonymous OpenSea user 4761BF.
The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea
ENS is a blockchain naming protocol that allows users to store avatars and profile images for use across devices and send or receive crypto and nonfungible tokens. To sell a .eth domain on OpenSea, users would first need to connect their wallet and register an address at manager.ens.domains then list it on their OpenSea account.
While many crypto enthusiasts took up interesting or creative names for the ENS service, others have embarked on the practice of domain-flipping. That is, registering ENS domains containing names of prominent entities beforehand and then later demanding a high price for the domain should the said entity wishes to enter the Web 3.0 space later on.
Since its inception in 2017, there have been over 1.67 million .eth domain registrations across approximately 482,000 owners. More than 154,100 registrations were made recentl between July 5 to July 18, partly due to lower gas fees and continued interest from entities seeking to enter the Web 3.0 space. To date, the ENS collection on OpenSea has witnessed approximately 46,200 ETH ($71.5 million) in cumulative transaction volume.
The console's creators say it will be compatible with eight blockchains and have its own digital wallet, token, and marketplace, with a prototype coming in “a few months.”
Polium, a company that markets itself as “building the products and infrastructure for Web3 gaming,” has said it's launching a gaming console that will support multiple blockchains and nonfungible tokens (NFTs).
The “Polium One” console announced on July 3 is slated for an initial Q3 2024 release and will support the Ethereum (ETH), Solana (SOL), Polygon (MATIC), BNB Chain (BNB), ImmutableX, Harmony, EOS, and WAX blockchains.
We are introducing the Polium One, A multi-chain console for Web 3 Gaming. #Web3OnConsole pic.twitter.com/tkRaP2O13A
— Polium (@Polium__) July 2, 2022
Currently, the only specifications listed for the console are that it will support a 4K Ultra HD resolution at 120 frames per second. Polium says its community will help them build the console’s hardware and software and states it will have a functional prototype in “a few months.”
According to Polium, the console will feature its own multichain cryptocurrency wallet, and the controller will have a wallet button for users to make trades more efficiently. Security and verification of transactions from the console will be enabled via a fingerprint scanner on the controller.
The console's price is unknown, but Polium does plan to mint a “Polium Pass” NFT, which will allow holders to claim a console on the initial launch day. Pass holders will receive another NFT, which in the future can be staked for a “PLAY” token, the console's native token for transacting on its marketplace app.
Polium plans on releasing 10,000 consoles to Polium Pass holders and partners on the Q3 2024 initial launch, with more units manufactured for the public in Q3 2025. It has set a goal of selling over 1 million units.
The company has already received criticism for its logo looking similar to another popular console, the Nintendo GameCube. Polium said it didn’t copy the logo and is already creating a new logo “that is original.”
Man logo looks kinda familiar... pic.twitter.com/bruj4gX35D
— ben shambrook (@shambrookben) July 4, 2022
China’s NFT industry players and the country’s largest technology firms have signed an agreement to check the identity of users using digital collectible trading platforms, according to a report on July 4 from the South China Morning Post.
A so-called “self-discipline initiative” document was signed by companies with a stake in China’s NFT market, such as JD.com, Tencent Holdings, Baidu, and digital payments platform Ant Group, an affiliate of Alibaba Group.
The document was published on June 30 by the China Cultural Industry Association and, while not legally binding, calls on the firms to “require real-name authentication of those who issue, sell and buy” NFTs, and “only support legal tender as the denomination and settlement currency.”
The initiative also seeks for the companies to promise not to create secondary marketplaces for NFTs to combat trading speculation.
The popularity of NFTs in China is on the rise, and digital collectable platforms have grown 5X in just four months from February to mid-June 2022 despite multiple warnings from the government.
A patent filed by Nike Inc. on June 30 with the United States Patent and Trademark Office (USPTO) shows the fitness clothier is interested in a “video game integration” of NFTs.
As per the filing, Nike seeks to patent a method where a “virtual object” will display in games, where that object is a “virtual shoe, article of apparel, headgear, avatar, or pet.” Other language in the filing suggests Nike plans to sell the physical shoes and clothes represented within the NFTs.
Related: NFT hype evidently dead as daily sales in June 2022 dip to one-year lows
The reasoning presented in the filing suggests Nike is concerned with counterfeit digital collectibles and says there “exists a need for a retailer to more directly influence and control the nature and ultimate supply of digital objects within this virtual market.”
It also reasons an opportunity exists for it to capitalize and engage with video game players as most games feature customizable characters, which could make them “more engaged with a brand in the physical world.”
The second-largest sale of an Ethereum Name Service (ENS) domain not only in U.S. dollars but also in Ethereum happened on July 3 when the domain “000.eth” sold for 300 ETH, roughly $320,000. The highest sale of an ENS domain was for “paradigm.eth” in October 2021, which fetched 420 ETH, around $1.5 million at the time.
Social media platform Facebook will add support for NFTs, and a “digital collectibles” tab will appear on the pages of selected creators in the U.S., with a feature to cross-post between Instagram and Facebook rolling out eventually.
During the early years of the cryptocurrency space, decentralized autonomous organizations (DAOs) and smart contracts were discussed in theory. Nowadays many people consider The DAO, launched in 2016 by members of the Slock.it development team, to be the first smart contract-based DAO. In 2022, there’s a lot more DAOs, as statistics show that $10 billion […]
Other notable NFT news this week includes Larva Labs deleting all of its Tweets and Elon Musk briefly changing his Twitter PFP to Bored Ape Yacht Club collage.
This week's Nifty News sees the arrival of Louis Vuitton to the nonfungible token (NFT) gaming scene, Johnnie Walker's entry into Web3 and Elon Musk's apparent embrace of Bored Ape Yacht Club.
To commemorate Louis Vuitton’s bicentennial birthday in late 2021, the French luxury brand launched a NFT game called "Louis: The Game." At the time of publication, the game has been dowloaded more than 2 million times on both Android and iOS devices. "Louis: The Game" follows its protagonist, Vivienne, as she overcomes challenges, collects candles and other collectibles. NFT artist Beeple designed 30 NFTs embedded within the game, which are up for winning. At the end of April, new levels were released and with it new opportunities to win NFTs that will be distributed via a raffle through August 4, 2022.
In a curious and quiet move, the Twitter account handled by the founders of Larva Labs (LL) reset its Tweet count to zero on May 2. Since Yuga Labs acquired Larva Labs collections CryptoPunks and Meebits in March, most Tweets concerning these collections have been moved to @cryptopunksnfts and @MeebitsNFTs accounts.
However, LL founders, Matt and John, stated that they would continue posting on @LarvaLabs. The company continues to run various other Web3 projects under its belt, including Autoglyphs, as well as some mobile apps.
We’ve changed our handle following the acquisition announcement. Follow along here for CryptoPunks updates, and keep up with Meebits over at @MeebitsNFTs. The projects’ founders, Matt & John, will keep posting as @larvalabs.
— CryptoPunks (@cryptopunksnfts) March 22, 2022
For fans nostalgic about the OG NFT collection, one user known as "@swissdegen" has backed up all of Larva Labs’ Tweets since 2017. Why? "For the culture," he tweeted.
Twitter's new owner, Elon Musk, changed his Twitter profile picture (PFP) to a collage of Bored Ape Yacht Club NFTs for less than one day and caused quite a stir on Crypto Twitter. Musk’s profile photo also sent soaring the value of ApeCoin, Yuga Labs' cryptocurrency. The image has since been deleted because Michael Bouhanna, a Sotheby's executive, had originally created it for the Sotheby’s sale of the NFT and requested credit for it.
@elonmusk as much I admire your work I’d like you to remove your pfp that I created for our Sotheby’s sale. Or you credit me . Happy to send you the original file minted with the buyer approval pic.twitter.com/e83ZyxWGH5
— Michael Bouhanna (@michaelbouhanna) May 4, 2022
Users who traced some of the NFTs in the profile pic confirmed that Elon indeed has an impressive collection of Bored Apes, including three gold apes. The wallet also holds Doodles, Azuki and Moonbirds, all transferred from MoonPay's vault. However, some of the Bored Apes in the PFP collage are not owned by Elon Musk, as user "@franklinisbored" pointed out, raising concerns of copyright breaches.
Scotch Whiskey Johnnie Walker and parent company DIAGEO partnered with Gary Vaynerchuk's NFT project VeeFriends to provide holders of the Gift Goat VeeFriends NFTs with spirits-related offerings. Gift Goat is one of the 268 characters in the original VeeFriends collection. There are 555 Gift Goat tokens in total.
All Gift Goat tokens will unlock 18 luxury gifting experiences curated by Gary Vaynerchuk over the course of three years. Each experience combines a bespoke physical gift with a unique NFT from a notable artist in the space. The Johnnie Walker collaboration will also set up an activation at the upcoming VeeCon NFT-ticketed conference.
Two weeks after Coinbase launched the beta version of its NFT marketplace, the crypto exchange opened it up for everyone on Wednesday. Coinbase clarified on Twitter that having an open beta means that more features will continuously be added, but with the help of the public.
The last week of April saw a sudden surge in the demand for 3- and 4-digit Ethereum Name Service, or ENS, domain names, marking a trend of NFT investors who prefer a shorter NFT token ID. Coinciding with new registrations was a sharp price increase for ENS token. Additionally, secondary sales for ENS names on OpenSea reached a peak 446 Ether (ETH) worth of volume in the last week.
