Nifty Newsletter

YouTuber Logan Paul and his CryptoZoo NFT team face a lawsuit alleging that they executed a rug pull.

In this week’s newsletter, read about how Yuga Labs settled a lawsuit with one of the creators of a copycat nonfungible token (NFT) collection. Learn how the Bitcoin Ordinals creator fixed the first instance of porn uploaded to the protocol and how YouTuber Coffeezilla tricked MMA fighter Dillon Danis into promoting fake NFTs. In other news, Logan Paul and his team face a class-action lawsuit for allegedly executing a rug pull, and don’t forget this week’s Nifty News, featuring Mastercard’s former NFT lead minting his resignation letter as an NFT. 

Yuga Labs settles lawsuit with developer involved in copycat BAYCs

Yuga Labs — the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection — settled a lawsuit with Thomas Lehman, one of the creators of a collection called RR/BAYC, which copies the original BAYC NFTs.

The NFT firm sued the developer in January for his role in the copycat project. In the settlement, Yuga Labs and Lehman agreed on a permanent injunction that bans Lehman from using imagery similar to BAYC.

Continue reading…

Bitcoin Ordinals creator looks for fix after first instance of shock porn

The creator of the Bitcoin Ordinals, an NFT-like protocol running on the Bitcoin mainnet, had to look for a fix when a pornographic image was inscribed into the blockchain on Feb. 2. The image has been removed from the Ordinals website but will forever live on the blockchain.

Speaking with Cointelegraph, Ordinals creator Casey Rodarmor, said he acted quickly to remove the image from the website. However, Rodarmor said there’s not much that can be done to prevent future instances because of the nature of the protocol.

Continue reading…

YouTuber baits MMA fighter into secretly shilling fake NFTs for $1K

Crypto investigator Coffeezilla recently revealed he tricked mixed martial artist and influencer Dillon Danis into promoting a fake NFT project without disclosing that he received payment for the ad.

In the advertisement, Danis tweeted an image and a site URL for the fake project. Despite many signs that the website is fake, the incident shows Danis did not do any sort of checks before posting the ad.

Continue reading…

Logan Paul and CryptoZoo hit with lawsuit as investors take action

YouTuber Logan Paul and his NFT project CryptoZoo were hit with a class-action lawsuit for allegedly executing a rug pull and stealing millions of dollars. In a court filing, plaintiff Don Holland alleged Paul and his team promised benefits for NFT holders but then abandoned the project after.

The lawsuit was submitted by lawyers from Ellzey & Associates and Attorney Tom and Associates, which is a firm run by the YouTuber Attorney Tom.

Continue reading…

Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more

Satvik Sethi, the former NFT lead at Mastercard, slammed the firm for mismanagement and inefficiency as he resigned from his position. Sethi also asked his followers for support, minted his resignation letter as an NFT and put it up for sale.

Continue reading…

CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Professionals working in the Web3 space shared various ways and tools that can help users prevent NFT theft.

In this week’s newsletter, read about how Moonbirds founder Kevin Rose lost nonfungible tokens (NFTs) worth more than $1.1 million. Find out why an NFT collector is suing NFT marketplace OpenSea over locking his account for three months and how the Porsche NFT collection gained almost $5 million in sales volume, despite a failed launch. In other news, find out how NFT trademarks could potentially be a reliable signal for NFT traders. Lastly, professionals within the Web3 space shared various ways to combat NFT theft. 

Moonbirds creator Kevin Rose loses $1.1M+ in NFTs after one wrong move

Moonbirds co-founder Kevin Rose lost over $1.1 million in NFTs after falling victim to a phishing scam. According to various analysts, Rose approved a malicious signature that let the attacker transfer tokens from his wallet. An on-chain analyst named “Quit” on Twitter said that the malicious signature was enabled by the Seaport marketplace contract, which is the platform that powers the OpenSea NFT marketplace.

After the hack, Rose urged his followers on Twitter to avoid buying NFTs from the Squiggles collection until everything has been flagged to avoid purchasing stolen NFTs.

Continue reading…

NFT collector sues OpenSea for locking account after being scammed

An NFT collector has taken legal action against OpenSea for various allegations, including locking his account for over three months. Speaking to Cointelegraph, NFT investor Robbie Acres shared that two of his NFTs were stolen through a phishing scam, which he reported to the NFT platform.

However, Acres claimed that the marketplace asked him to perjure himself before finally unlocking the account after three months, resulting in alleged financial losses. Responding to the allegations, OpenSea claimed the theft happened outside its marketplace and had already disabled the items and unlocked the account.

Continue reading…

Porsche NFT trading volume nears $5M despite launch woes, minting halt

Despite what some considered to be a failed launch, sales volume for Porsche NFTs surged to almost $5 million on Jan. 26, according to data tracking website NFTScan. The rise in trading volume came as a surprise as the car manufacturer stopped the minting process abruptly after its launch, following various complaints from users.

Continue reading…

Keep an eye out for major company NFT trademark filings this year

NFT-related trademark filings may be “reliable signals” for collectors and traders. In an interview with Cointelegraph, intellectual property lawyer Michael Kondoudis pointed out that it’s impossible to register a trademark without any intentions for use.

Kondoudis also shared that in 2023, one of the most noticeable trends is liquor companies filing for NFTs. According to Kondoudis, well-known alcohol brands like Absolut Vodka, Chivas Regal and Malibu Rum have filed for NFT-related trademarks.

Continue reading…

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

As more people jump into NFTs, the space becomes a target for bad actors in Web3. However, professionals working in the crypto space believe some ways and tools could help users prevent hacks.

Due diligence, segregating NFTs in different wallets and using tools to check and revoke permissions are some of the ways highlighted by the industry experts who spoke with Cointelegraph.

Continue reading…

CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Lawyers believe that NFT court orders could help reach defendants that cannot be contacted using ordinary means.

In this week’s newsletter, read about how nonfungible token (NFT) sales reached 101 million in 2022. Learn how NFTs can be used to summon defendants who cannot be reached using traditional methods, and see how toys play a role in the NFT and Web3 ecosystem. Check out how Binance is tightening its rules on NFT listings, and don’t forget this week’s Nifty News, featuring the resurgence of former U.S. President Donald Trump’s NFTs. 

NFT sales topped 101 million in 2022: DappRadar report

A report published by decentralized app tracker DappRadar shows that NFT sales in 2022 reached 101 million, representing a 67.57% increase compared with 2021.

The report also shows that the Ethereum blockchain remains the top contender in the NFT ecosystem, with 21.2 million transactions processed in the year. The network is followed by WAX (14.5 million), Polygon (13.3 million) and Solana (12.9 million).

Continue reading…

NFT court orders could become a norm in crypto-related litigation: Lawyers

In blockchain-based crimes where defendants are unreachable, crypto lawyers believe that serving court orders through NFTs could be a solution. Agustin Barbara, managing partner of The Crypto Lawyers, said that summoning defendants through NFTs is a good tool for blockchain crime when it’s impossible to identify bad actors.

In this situation, summoning the unknown entity would be conducted by sending an NFT court order to the blockchain wallet address where the stolen assets are held. Barbara believes that this is a good way to reach the accused when standard methods like sending an email don’t work.

Continue reading…

NFT Steez and Cryptoys CEO discuss the future of toys and entertainment within Web3

Cointelegraph’s podcast NFT Steez interviewed Will Weinraub, founder of Cryptoys, to talk about the role of toys in the NFT and Web3 space. Weinraub discussed various points, including the adult craving for the element of play and the evolution of play in gaming and NFTs.

Apart from this, the NFT executive highlighted that crypto and tokenomics are an important foundation in blockchain gaming and said that the sector would likely develop more in the next year.

Continue reading…

Binance tightens rules on NFT listings

Crypto exchange Binance has made stricter rules for NFT listings. In an announcement on Jan. 19, the exchange said it would delist NFTs with an average daily trading volume below $1,000 from Nov. 1, 2022 to Jan. 31, 2023. This will apply to NFTs listed before Oct. 2, 2022.

Apart from this, NFT artists will only be able to mint up to five digital collectibles in a day starting Jan 21, 2023. The company said that all NFTs not meeting the new requirements would be delisted from the platform on Feb. 2, 2023.

Continue reading…

Nifty News: Trump NFTs surge 800%, Yuga Labs blacklists NFT exchanges and more

The NFTs released by former United States President Donald Trump spiked in sales volumes, up to 800%, according to NFT sales tracker CryptoSlam. Some believe the surge is connected to Trump’s return to social networks ahead of the 2024 U.S. elections.

Continue reading…

CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Professionals working within the NFT space spoke about the NFT gaming trends to watch out for in 2023.

In this week’s newsletter, read about how independent creators can use music-based nonfungible tokens (NFTs) to build a fanbase and monetize their work. Check out what industry professionals are saying about NFT gaming trends in 2023 and how an NFT influencer lost his assets by clicking an advertisement on Google. In other news, find out how social media influencer Logan Paul plans a recovery for his controversial NFT project, CryptoZoo. And don’t forget this week’s Nifty News featuring Shiba Inu’s NFT project, Shiboshis. 

Music NFTs are helping independent creators monetize and build a fanbase

Cointelegraph podcast The Agenda interviewed the host of the Web3 Mint podcast, Adam Levy, and rapper Jay Kila to discuss music NFTs and how they can help independent creators. Levy discussed the advantages of ownership-based NFTs and patronage-based NFTs, while Jay Kila spoke of how he was inspired by the technology’s ability to help artists make a living.

According to Jay Kila, NFTs may be the “last hope” for independent artists to get money more directly and he highlighted that it would be disruptive.

Continue reading…

NFT gaming trends in 2023: Industry execs expect more big players to jump in

Cointelegraph reached out to executives in the NFT gaming space to get their insights on trends to look out for in 2023. Aleksander Larsen from Sky Mavis, Zoe Wei from BNB Chain and Carlos Pereira from Bitkraft Ventures believe that many traditional gaming studios may soon jump into NFT gaming.

Meanwhile, the industry execs believe blockchain gaming models like play-to-earn (P2E) and move-to-earn will need some tweaks. Larsen said that the P2E model does not work in its current state, while Wei said that further experimentation and analysis are necessary.

Continue reading…

Google Ads-delivered malware drains NFT influencer’s entire crypto wallet

A pseudonymous NFT influencer called NFT God recently claimed their wallet was drained after clicking a sponsored advertisement on Google containing malware. The social media influencer tweeted that they lost a “life-changing amount” because of the exploit.

NFT God, also known as “Alex” online, claimed that he used Google to download the video streaming software, called OBS. However, he mistakenly clicked a sponsored ad instead of clicking the actual website. He later realized that he had downloaded malware along with the software.

Continue reading…

Logan Paul unveils $1.5 million CryptoZoo recovery plan

YouTuber Logan Paul recently posted a three-step recovery pan for his controversial NFT project, CryptoZoo. The social media celebrity highlighted that he is no longer pursuing legal action against Coffeezilla for publishing various allegations against Paul in a series of videos investigating the project.

According to Paul, he will commit 1,000 Ether (around $1.5 million) to a program that lets unhappy investors burn their NFTs to get their money back.

Continue reading…

Related: NFT index grades the trading performance of collectors’ wallets

Nifty News: Price drops on ‘Cryptohouse’ with NFT decor, mint your personality as an NFT and more

The collaboration between Shiba Inu’s “Shiboshis” NFT project and luxury handbag firm Bugatti Group sold out in less than two minutes. The handbag manufacturer created NFTs and offered custom luggage to those who minted.

Continue reading…

CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

A cybersecurity firm warned users of a fake Pokemon NFT game that spreads malware and targets gamers.

In this week’s newsletter, read about how the metaverse may integrate touch and smell. Check out how the nonfungible token (NFT) project Moonbirds plans to become a global brand and how NFT marketplace Magic Eden will refund users affected by a recent exploit. In other news, find out how NFT image hosting issues can be resolved, according to executives within the NFT space. And don’t forget this week’s Nifty News featuring a warning to gamers about a fake Pokemon NFT game spreading malware. 

Touch and smell become the next big thing for the metaverse at CES 2023

One of the catalysts for the metaverse to generate $5 trillion in value in 2030 is the development of a more human experience. With the senses of smell and touch added to virtual reality (VR) experiences at the Consumer Electronics Show (CES) 2023, the metaverse is set to deliver more positive experiences to users.

A metaverse-focused firm showcased a VR headset that features a cartridge containing eight different aromas. The aromas can be mixed to generate various scents. The VR headset is scheduled for release later this year.

Continue reading…

Bluechip NFT project Moonbirds signs with Hollywood talent agents UTA

Proof, the firm that built the Moonbirds NFT project, inked a representation deal with United Talent Agency (UTA), a Hollywood talent agency representing various artists and other professionals.

According to Proof founder Kevin Rose, the goal for this move is to push the Moonbirds brand to a “global” scale and not just a big name within Web3. Rose highlighted that UTA has a lot of manpower and connections within various sectors and could transform Moonbirds into a global brand.

Continue reading…

Magic Eden to refund users after fake NFTs sold due to exploit

Due to a recent exploit on the NFT marketplace Magic Eden, the platform has promised to refund users who were sold fake NFTs on the website. According to the firm, a bug within its activity indexer allowed fake NFTs to bypass verification and get listed with authentic collections.

CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

The platform highlighted that it had resolved the problem of unverified NFTs shown as verified by disabling the entry points for the fraudulent NFTs. The NFT marketplace also promised that they would refund those who were affected by the exploit.

Continue reading…

Industry seeks solutions for NFT image-hosting disasters

With recent image-hosting incidents occurring in the Web3 space, Cointelegraph reached out to several industry professionals who worked in the NFT space to give insights on potential solutions to the problem.

From using dependable blockchains to exploring the storage technology available in Web3, executives in the NFT space gave Cointelegraph their thoughts on how NFT projects can avoid problems in NFT image hosting.

Continue reading…

Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer to launch metaverse and more

Hackers have used a fraudulent Pokémon-like NFT game to spread malware targeting gamers. The site offers an NFT marketplace and a way to stake NFTs. However, the site is a phishing site, according to cybersecurity experts. Meanwhile, data from market aggregator Cryptoslam shows that seven days into the new year, NFT sales jumped by 26%, showing some positive movements at the start of the year.

Continue reading…

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Investment firm Fidelity recently filed trademarks that showed its intentions to enter the NFT and metaverse space.

In this week’s newsletter, read about investment giant Fidelity planning to enter the nonfungible token (NFT) space and how Italy’s NFT market will grow. Check out how North Korean hackers use phishing websites to target NFT holders and listen to a conversation with Crypto Raiders in the NFT Steez podcast. And, don’t forget this week’s Nifty News featuring Japanese gaming firm Square Enix investing millions in an NFT game developer. 

Fidelity plans NFT marketplace and financial services in the metaverse

On Dec. 21, investment firm Fidelity filed three trademark applications to the United States Patent Trademark Office. The trademark filings cover NFTs, NFT marketplaces and metaverse investment services, suggesting that the firm has plans to enter the space.

One of the firm’s focuses appears to be the metaverse, showing that it may someday offer investment services within virtual worlds. The offerings may include various funds like mutual funds and retirement funds.

Continue reading…

Italy to create the crypto art renaissance: NFT market report

A recent report released by Research and Markets predicted that Italy is set to have a 47.6% growth in its NFT market by the end of 2022. With this, the Italian NFT market’s total value will be $671 million.

The report also projected that the country’s NFT industry will have an annual growth rate of 34.6% for the next five years, with the spending value predicted to hit around $3.6 billion in 2028.

Continue reading…

North Korean hackers stealing NFTs using nearly 500 phishing domains

A day before Christmas, blockchain security firm SlowMist highlighted that North Korean hackers had launched a broad campaign targeting NFT users. According to the report, the attackers created almost 500 phishing domains to lure potential victims.

Some websites have impersonated popular NFT marketplaces like OpenSea, X2Y2 and Rarible. The fake websites have also tried to imitate a project associated with the recent World Cup.

Continue reading…

Nifty News: Square Enix invests into NFT gaming firm, Beeple speaks on NFT art future and more

Japanese gaming giant Square Enix recently invested around $53 million to create mobile and blockchain games and start a metaverse initiative. An announcement hinted that the company is partnering with game developer Gumi to make a game-NFT-focused marketplace.

Continue reading…

Check out Cointelegraph’s NFT Steez podcast

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

A new Amazon documentary will explore NFT culture and aims to become the MTV of NFTs.

NFTs and soulbound tokens define Web3 filmmaking, says director

With Web3 making its way to various industries like filmmaking, one movie director believes that tools like NFTs and soulbound tokens — digital identity tokens representing a person or entity — can serve cinema in various ways.

In an interview with Cointelegraph, Stephen Fung, director of the Web3 film project Departed Apes, shared his perspective on integrating Web3 tools into cinema. According to Fung, there are many potential intersections between Web3 and film, such as fan engagement in movies shown in the metaverse and film characters coming from the Web3 space.

Continue reading…

Amazon’s new series "NFTMe" explores NFT culture and disruption worldwide

A new Amazon documentary series, NFTMe, explores NFT culture and how NFTs have disrupted industries. Artists, collectors, influencers and professionals are featured in the show, highlighting how NFTs affected their lives.

According to the producers, the show wants to become the “MTV of NFTs” and provide go-to information about the topic. It will present NFTs in an easy-to-understand way, introducing viewers to the opportunities in Web3.

Continue reading…

Family-friendly NFTs bring the next generation of youth into Web3

Adoption and onboarding are two of the biggest challenges in Web3. However, by making projects family-friendly, the NFT space can solve the adoption challenge.

Speaking to Cointelegraph, Jeremy Fisher, the founder of NFT project Lucky Ducky, shared his belief that introducing NFTs and Web3 concepts to kids is a good way to encourage adoption. Additionally, while parents can handle buying and selling assets, NFTs can be a great way to teach kids about investing.

Continue reading…

Community baffled by Trump’s bizarre SimpDAO NFT collection

Former United States president Donald Trump recently announced his NFT project through the social media platform Truth Social. The 45th president revealed a collection of 45,000 NFT cards, portraying him in different outfits.

Various people reacted to the NFT drop, with some labeling the project as a SimpDAO, referring to fans labeled as “simps” who will take any opportunity to show their love and support for their idols.

Continue reading…

Comic-Con guru says storytelling is the key component for successful NFT projects

Speaking to Cointelegraph on the NFT Steez podcast, Gareb Shamus, the founder of Kumite NFT, shared his thoughts on how NFT projects can engage with their communities via storytelling. According to Shamus, engagement allowed him to reach billions of people around the world.

In this week’s newsletter, read how nonfungible tokens (NFTs) and soulbound tokens can help Web3 films. Amazon’s new documentary explores how family-friendly NFTs can help onboard kids to Web3. Find out how people reacted to Donald Trump’s NFT release. And, don’t forget this week’s Nifty News featuring Manchester United Football Club’s NFT launch and stolen Bored Apes. 

Check out Cointelegraph’s NFT Steez podcast

The executive also explained that Web3 allows great participation where stories can be told and expressed through multiple points of view. In addition, Shamus described the Kumite NFT project as a place where users can be a hero in their journey. 

Continue reading…

Nifty News: Building bridges in the metaverse, elaborate Apes scam and more

Manchester United Football Club recently launched its NFT collection on the Tezos blockchain. The initial drop was free of charge, requiring only a Tezos wallet to claim the NFTs. Meanwhile, 14 Bored Apes were recently stolen through a phishing and social-engineering scam that took a month to execute.

Continue reading…

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Because of the “ridiculous amount” of NFTs being minted, entrepreneur Gary Vaynerchuck argued that it’s unlikely for another market boom to happen.

In this week’s newsletter, read about how nonfungible tokens (NFTs) hosted on the FTX exchange are now showing blank images. Check out how NFTs can solve diamond certification fraud and how the NFT space is held back by oversupply. In other news, find out how celebrities are facing a class-action lawsuit. And don’t forget this week’s Nifty News featuring classic media player Winamp adding support for NFTs.

NFTs minted on FTX break, highlighting Web2 hosting flaws

NFTs hosted on the embattled FTX exchange have been affected by the collapse of the organization. After FTX filed for bankruptcy, its FTX.US domain was redirected to a page giving details on bankruptcy proceedings.

Because of this, the NFT hosted within the platform are now showing blank images instead of their original artworks. Owners of the NFTs are still able to see that the NFTs exist. However, the images cannot be seen when listing the NFTs for sale or even within their wallets.

Continue reading…

NFTs could help solve diamond certification fraud

As diamond certificate fraud becomes more common, some believe that NFTs can be a good solution to combat the issue. Speaking with Cointelegraph, Diamond Dawn founder Mike Moldawsky said that diamond certification reports should be placed on a public blockchain, ensuring that the documents cannot be tampered with.

According to Moldawsky, a diamond certificate running on the Ethereum blockchain will ensure immutability, proof-of-ownership and visibility for consumers and retailers.

Continue reading…

NFT market held back by oversupply, greed and bad projects: Gary Vee

Social media guru and NFT supporter Gary Vaynerchuck recently argued that oversupply, short-term greed and subpar projects are the cause of the falling NFT market in the last year. According to Vaynerchuck, the demand for NFTs will not be able to keep up with the high supply.

Because of the “ridiculous amount” of NFTs being minted, Vaynerchuck said that it’s unlikely for the NFT space to have another market boom, similar to 2021. However, the entrepreneur argues that there will be 1-3% of NFT projects that will survive to become the “Amazons and eBays” of the industry.

Continue reading…

Yuga Labs, Moonpay faces lawsuit over celebrities’ NFT promotion

The creators of the popular Bored Ape Yacht Club (BAYC) NFT collection and the crypto fintech firm Moonpay are facing a lawsuit for allegedly using celebrities to mislead consumers and promote NFTs.

Celebrities like Paris Hilton, Snoop Dogg, Justin Beiber and Madonna have been named as defendants in the class-action lawsuit. The suit was filed by John T. Jasnoch, claiming the crypto companies used their Hollywood connections to market digital assets without proper disclosure.

Continue reading…

Nifty News: Winamp adds NFT support, Atari gets physical and more

Classic media player Winamp announced its support for Ethereum and Polygon-based music NFTs through its latest update. The music player has been around since 1997 and is known to support a wide range of file types. On the other hand, Crypto.com and Coca-Cola partnered to launch NFTs showing player heat maps during World Cup 2022 matches.

Continue reading…

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Meta CEO Mark Zuckerberg highlighted that the company is hopeful about the metaverse despite costing billions of dollars.

In this week’s newsletter, read about how the word “metaverse” placed second in Oxford’s Word of the Year. Check out how Meta is pushing forward its metaverse plans amid doubts and how the nonfungible token (NFT) marketplace Magic Eden announced a tool to enforce royalties. In other news, find out how the Opera Crypto Browser is integrating NFT minting. And, don’t forget this week’s Nifty News featuring a new all-time high for Reddit avatar minting. 

Metaverse comes in second place as Oxford’s word of the year

The term “metaverse” have gotten second place in Oxford University’s Word of the Year 2022, coming after “goblin mode,” which depicted the mood of people who did not like the idea of coming back to normal life after the pandemic lockdowns.

According to Oxford’s data, the use of the word metaverse increased by four times in 2022, mostly due to Facebook’s rebrand to Meta in October 2021. Oxford highlighted that the word gained traction because of the crypto community.

Continue reading…

Meta ‘powering through’ with metaverse plans despite doubts — Zuckerberg

Mark Zuckerberg, the CEO of Meta, remains hopeful when it comes to the company's metaverse project, even though it costs the company billions of dollars. In an interview at the DealBook Summit, the Meta CEO highlighted that things will look different in a ten-year time horizon compared to just a few years coming ahead.

Zuckerberg believes that communicating in the 2030s will be vastly different from the way people communicate now. The Meta CEO highlighted that “someone has to build” and invest in it.

Continue reading…

Magic Eden follows OpenSea with NFT royalty enforcement tool

Solana-based NFT marketplace Magic Eden has announced that it will be allowing creators to enforce royalties on their collections. This follows OpenSea's announcement of a similar tool back in November.

Jack Lu, the CEO of Magic Eden, previously floated the idea of enforcing royalties at a Solana conference, pointing out creators’ need for a more sustainable revenue model.

Continue reading…

Opera Crypto Browser to enable instant NFT minting through launchpad

Meanwhile, Opera Crypto Browser has dived into NFTs through an integration with the Alteon LaunchPad. With a new tool, the browser will let anyone mint NFTs through a drag-and-drop interface.

Susie Batt, an executive at Opera, said that this integration allows users to explore and contribute to the Web3 ecosystem. In addition, the tool will not have platform usage fees to allow people to explore NFTs freely.

Continue reading…

Related: Cointelegraph Historical collection is live: Mint the biggest crypto news stories now!

Nifty News: Reddit NFT mints reach all-time high, EU’s $400K metaverse party flops and more

Social forum Reddit's NFT collection hit an all-time high record of avatars minted in one day. On Dec. 3, the platform saw a new record of 255,000 minted avatars, surpassing the previous record of 200,000 avatars minted in a day back on Aug. 30. Meanwhile, watch manufacturer Timex has partnered with the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) projects to create watches that match BAYC and MAYC NFTs.

Continue reading…

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

At the height of the bear market, two NFT collectors have paid almost $1 million to purchase Bored Ape NFTs.

In this week’s newsletter, read about how two Bored Ape nonfungible tokens (NFTs) sold for almost $1 million during the bear market and how the word “metaverse” made it into the top three finalists for Oxford Word of the Year. Check out how the metaverse can generate passive income through royalties and how NFT marketplace OpenSea has integrated BNB Chain into its platform. And, don’t forget this week’s Nifty News featuring COVID-19 protests in China being converted into a Polygon-based NFT collection. 

‘Metaverse’ a top 3 contender for Oxford’s Word of the Year

The word “metaverse” has made it through to the top 3 finalists for the Oxford Word of the Year (WOTY) competition. The word will go against other contenders, including “IStandWith” and “Goblin Mode.”

In a video pitch, the Oxford University Press (OUP), the publisher of the popular Oxford English Dictionary, described the metaverse as “a hypothetical virtual reality environment in which users interact with one another’s avatars and their surroundings in an immersive way.”

Continue reading…

OpenSea’s Seaport Protocol onboards creators and NFT holders on BNB Chain

OpenSea has announced its plans to integrate BNB Chain into its NFT marketplace by the end of 2022. The integration will enable the platform’s users to buy and sell NFTs based on BNB Chain. According to the announcement, the integration will allow creators within the BNB Chain to have multiple payouts, real-time payouts and collection management.

An executive at BNB Chain said that their aim is to provide better experiences to both platforms’ users, suggesting that the integration will bring creators into a wider system and empower NFT initiatives within the BNB Chain ecosystem.

Continue reading…

ApeCoin geo-blocks US stakers, two Apes sell for $1M each, marketplace launched

While the rest of the crypto community weathers the effects of the bear market, some collectors are continuously beefing up their NFT collections. BAYC #232 was bought by the anonymous NFT collector Keungz for 800 Ether (ETH), which was around $950,000 at the time of purchase.

On the other hand, BAYC #1268 was transferred in a transaction between two unknown wallets. The NFT piece was sold for 780 ETH, which is estimated to be around $940,000 at the time of the transaction.

Continue reading…

The metaverse is a new frontier for earning passive income

In an article, Cointelegraph dived deep into the metaverse as a means of generating passive income. In an interview, a metaverse app executive John Burris told Cointelegraph that the metaverse is full of opportunities to earn money.

According to Burris, blockchain and NFTs unlocked true ownership and created a new royalty model that allows funds to continue to flow back to the original creator, providing a “well-deserved passive income” as items get traded.

Continue reading…

Nifty News: China’s lockdown protest NFTs emerge, Candy Digital cuts staff and more

Meanwhile, images showing COVID-19 protests in China have been uploaded to OpenSea as NFTs. A collection based on Polygon called Silent Speech featured 135 NFTs that show pictures of protesters, signs, graffiti and screenshots that relate to the ongoing protests against China’s zero-tolerance policy for COVID-19. On the other hand, NFT firm Candy Digital has laid off a significant portion of its employees as NFT trading volumes went down in 2022.

Continue reading…

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.