BitMEX founder Arthur Hayes is revealing his altcoin portfolio while predicting that 2023 could be a great year for the crypto industry. In a new article, the crypto capitalist says that he expects the Federal Reserve to begin printing money again next year, which could serve as a catalyst for a massive rally for Bitcoin […]
The post BitMEX Founder Arthur Hayes Reveals ‘Super Power’ Altcoin Portfolio of Ethereum, GMX and One More Crypto Asset appeared first on The Daily Hodl.
While non-fungible token (NFT) sales have slipped since the start of the year, the top five marketplaces, in terms of the largest number of all-time sales, have reached more than $40 billion. Moreover, the NFT marketplace platform Opensea captured over $32 billion worth of sales as the NFT market platform currently dominates the top five […]
LooksRare joins the lineup of NFT marketplaces that have abandoned default creator royalties but says its replacement solution is “competitive.”
Nonfungible token (NFT) marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by default, following the likes of Magic Eden and X2Y2.
The platform tweeted on Oct. 27 that it would not be supporting creator royalties by default, instead choosing to share 25% of its protocol fees with NFT creators and collection owners. Buyers can still choose to pay royalties when purchasing an NFT but it will be on an opt-in basis.
Explaining the changes, it said 0.5% of its 2% protocol fee would go to collections, as long as that collection has a receiving address for the funds.
LooksRare said the willingness of buyers to pay royalties has “eroded” as a result of many NFT markets now moving to a zero-royalty model adding that these disadvantage creators by removing a source of passive income
For this reason, it says it wants to create a “competitive solution” through its fee-sharing model with creators.
That’s why we’re choosing to lead the charge in this new landscape, by creating a competitive solution that still benefits creators: diverting protocol fees directly to creators.
— LooksRare (@LooksRare) October 27, 2022
The reaction from the community was mixed, with some praising LooksRare for the revenue sharing model, but well-known Twitter NFT statistician, the aptly named NFTstatistics.eth, said he doesn’t see the benefit.
“The average royalty paid is around 6%” they tweeted, “I wouldn’t say that giving artists 0.5% [...] is a competitive solution that benefits creators.”
“I do get that everyone is trying to survive in this race to the bottom,” he added.
Twitter’s development team announced on Oct. 27 that it’s testing “NFT Tweet Tiles” with some links to NFTs showing on the platform with a larger picture along with details of the NFT and the name of its creator.
Now testing: NFT Tweet Tiles
— Twitter Dev (@TwitterDev) October 27, 2022
Some links to NFTs on @rarible, @MagicEden, @dapperlabs and @Jumptradenft will now show you a larger picture of the NFT alongside details like the title and creator. One more step in our journey to let developers impact the Tweet experience. pic.twitter.com/AkBisciB1i
Supported NFT marketplaces, for now, include Rarible, Magic Eden, Dapper Labs and Jump.trade. It comes after the platform rolled out NFT profile pictures in January, but only for its paid subscribers on Apple iOS.
The new feature could be a move to appease its most active users, as leaked internal Twitter documents show it found the topics of interest among English-speaking heavy users of the platform have shifted over the last two years, with one of the highest-growing topics now being cryptocurrencies.
There are also circulating rumors that Twitter is developing a crypto wallet, but so far, the claim hasn’t been backed by evidence nor confirmed by Twitter. Regardless, speculation abounds that it could be in the works with the takeover by crypto-friendly Elon Musk.
The top English men’s professional soccer league — the English Premier League (EPL) — is working on signing a nearly $35 million, or 30 million British pounds, NFT deal with Ethereum blockchain-based fantasy soccer game Sorare, according to Sky News.
Sorare is a fantasy soccer league trading card game where players buy, sell and trade NFTs player cards to manage a team. The team can then enter contests and earn in-game points based on the actual on-pitch performances of the corresponding players.
The EPL will hold discussions with its 20 clubs regarding the reported multi-year contract on Oct. 28. The deal will allegedly focus on static images of EPL players assigned to NFTs, which of course, will allow fans to buy, own and likely trade them.
In March, it was reported that the EPL tapped blockchain firm ConsenSys for an NFT deal allegedly valued upward of $300 million. Still, Sky News reports that a slide in NFT prices had ConsenSys renegotiating to lower the price of the agreement, which made Sorare’s offer more attractive to the league.
A separate deal between the EPL and blockchain developer Dapper Labs is reportedly also under discussion.
The new NFT marketplace and aggregator Blur hit a record high of 1,610 Ether (ETH), around $2.5 million, in 24-hour trading volume on Oct. 26, according to Dune analytics, placing it only behind the largest marketplace, OpenSea.
It topped its rivals LooksRare and X2Y2 in terms of market share on the day, taking to Twitter to celebrate the milestone.
In the last 24 hours Blur became the #2 NFT marketplace by volume (excluding wash trades)! Blur is also the #1 aggregator.
— Blur (@blur_io) October 26, 2022
This is a huge win for the entire Blur community who will eventually be majority owners of Blur. It's only day 7 and we're just getting started! pic.twitter.com/YpvywTdU5H
The Ethereum-based platform launched a beta version on Oct. 19 with an airdrop of its native token BLUR to anyone who had traded NFTs in the last six months. It says it targets “pro traders” and offers no trading fees and optional royalties.
Related: TV streaming providers should start relying on NFTs
On the same day, NFT marketplace X2Y2 tweeted that it would like Blur “to stop using our listings on your website” and subsequently blocked Blur from its platform, claiming it violated X2Y2’s terms by using multiple application programming interface (API) keys.
NFT marketplace myNFT will showcase its first-ever physical NFT vending machine at the NFT.London event slated for Nov. 2–4. It will allow eventgoers to buy an NFT by purchasing a displayed envelope, scanning a code to create a myNFT account and receiving the NFT in their newly created wallet.
Monkey Drainer, the pseudonym of an alleged phishing scammer, has reportedly stolen $1 million worth of ETH so far this week through creating copycat NFT minting websites, and its possible the scams may have stolen over $3.5 million in total so far.
Non-fungible token (NFT) sales managed to climb higher during the last seven days than the previous week’s overall sales. This week’s NFT sales managed to jump over 6.3% after recording more than $153 million in sales compared to last week’s $144 million. Non-Fungible Token Sales This Week Climb More Than 6% Higher, 2 NFT Collections […]
A widely followed crypto strategist says Ethereum (ETH) challenger Polkadot (DOT) could witness a massive 56% haircut from its current price level before finding some stability. Pseudonymous analyst Altcoin Sherpa tells his 179,900 Twitter followers that interoperable blockchain Polkadot could find support at significantly lower price levels. “DOT: $3-$5 probably good place to start accumulating […]
The post Crypto Analyst Predicts Massive Downside for Ethereum Rival Polkadot, Updates Forecasts for Cosmos and LooksRare appeared first on The Daily Hodl.
Non-fungible token (NFT) sales have managed to stay consistent this week while the crypto economy saw more losses over the last seven days. The week prior, $152.9 million in NFT sales were recorded across 18 blockchains and during the past week, $154.3 million in sales were executed. While Ethereum saw the most NFT sales this […]
A widely followed crypto analyst is predicting that three altcoins, including Solana (SOL) and Polygon (MATIC), appear poised for a corrective move after rallying from their 2022 lows. Pseudonymous crypto trader Altcoin Sherpa tells his 179,500 Twitter followers that he expects one indicator on the four-hour chart to act as a resistance that could send […]
The post Crypto Strategist Warns Solana (SOL), Polygon (MATIC) and One Additional Altcoin Primed for Pullbacks appeared first on The Daily Hodl.
A widely followed crypto strategist is outlining what’s in store for Ethereum rivals Solana (SOL) and Avalanche (AVAX) as well as one under-the-radar altcoin. Pseudonymous analyst Altcoin Sherpa tells his 178,300 Twitter followers that smart contract platform Solana could be carving a local bottom after losing 90% of its value from the all-time high. “SOL: […]
The post Here’s What’s Ahead for Solana, Avalanche and One Low-Cap Altcoin, According to Top Crypto Analyst appeared first on The Daily Hodl.
A popular crypto trader and analyst is expressing bullish sentiment for Bitcoin (BTC) with a caveat. Pseudonymous crypto trader Altcoin Sherpa tells his 174,900 Twitter followers that he is “cautiously bullish” on Bitcoin while noting that corrections have typically followed BTC’s upward moves in the past. According to Altcoin Sherpa, his bullish thesis will be […]
The post Top Trader Is ‘Cautiously Bullish’ on Bitcoin (BTC), Charts ApeCoin (APE), Ethereum-Rival and One Other Altcoin appeared first on The Daily Hodl.
The Solana layer-1 blockchain network has risen to third place all-time in total NFT sales and now sits just behind Ronin and Ethereum, each of which have a commanding lead.
The Solana network is gaining traction among nonfungible token (NFT) traders as total sales have surged past $1.6 billion, making it the third most active blockchain by NFT sales volume.
Data from NFT transaction tracker CryptoSlam confirm that total sales on Solana has reached the milestone. Solana’s visibility among traders is clear as it has also ranked second behind Ethereum (ETH) in total sales over the last 30 days.
The Ronin sidechain to Ethereum for the Axie Infinity game is still firmly in second place in the all-time figures with $4 billion in total sales, but the recent Ronin bridge hack stunted weekly and monthly numbers for the network.
Although Ethereum is still the leader by a vast margin with $21 billion in total sales, Solana is closing in on second place while creating greater distance from its own competitors.
Solana transaction volume is expected to rise after the NFT marketplace OpenSea integrates Solana onto its platform this month.
The second biggest NFT marketplace by transaction volume, LooksRare, looks as if its still generating most of its volume through wash trading.
Bloomberg reported on April 5 that NFT tracker CryptoSlam data shows that about $18 billion, or 95% of the total trading volume on the platform is from wash trading.
Wash trading is when the operators or users of a trading platform create a series of back-and-forth trades in order to inflate seemingly organic trading volume. In the case of LooksRare, traders are incentivized to wash trade due to the platform’s rewards structure.
Investors who stake tokens on LooksRare are rewarded with LOOKS tokens and Wrapped Ether (WETH) proportional to the amount of transaction volume in the marketplace. The high volume of wash trading appears to be masking a drop off in the overall NFT market, with Dune Analytics data shows that leading NFT marketplace OpenSea’s volume has been dropping every month since January.
DappRader senior analyst Pedro Herrera said that organic trading was slowly starting to rise on LooksRare however.
Rapper Ja Rule has sold an NFT of a painting from the infamous Fyre festival.
The NFT, which depicts the Fyre festival’s logo and the word fyre across it, sold for $122,000 on the Flipkick NFT auction platform.
Goodnight... pic.twitter.com/2xOXcjJ37L
— Ja Rule (@jarule) March 24, 2021
The purchaser will receive the NFT and the physical painting. Ja Rule has four other NFTs of Fyre festival artwork for auction on Flipkick, including one starting at $600,000.
In 2017, producer Billy McFarland decided to promote a party on a tropical island. He hired several influencers and artists, including Ja Rule, to make promotional content for it. However, the festival did not live up to the hype — or even meet basic promises to provide adequate facilities — and McFarland was forced to pay millions of dollars in fines for defrauding ticket buyers.
Metaverse yacht company Cyber Yachts hopes to sell the most expensive NFT ever, consisting of a virtual 120 meter mega yacht named "Indah" going on sale for the princely sum of $400,000,000. The NFT isn't providing all the value however as the purchaser al gets a real-world 394 foot mega yacht based on the same design, built by a respected luxury yacht shipbuilders.
The NFT yacht will be an exact virtual replica of the physical yacht deployed on Monsoon Blockchain Corporation's NFT platform.
Ledger is now partnered with Metaverse platform and NFT game The Sandbox to promote education for the virtual world. Ledger’s chief experience officer Ian Rodgers said that the partnership is expected to bring more security to The Sandbox, as well.
Corporate NFT creator Skey Network has begun a strategic investment round worth $5 million to develop the Go2NFT platform. This platform will provide NFT solutions to corporations looking to protect their products from counterfeiting, which accounts for 2.5% of world trade.
