NFT Financial News

Sony Interactive Entertainment, the video game goliath running the PlayStation brand, filed a patent for a framework allowing users to transfer and utilize nonfungible tokens (NFTs) across multiple game platforms. 

Nonfungible token (NFT) marketplaces transacted roughly $82 million in 2020 and a staggering $17.6 billion in 2021, indicating a rising demand and high user interest in NFTs. This meteoric rise of digital asset trading ranged from whimsical cartoon JPEGs to National Basketball Association trading cards, artwork, music and more. One such marketplace for collecting and trading NFTs is Nifty Gateway.

A nonfungible token (NFT) from the CryptoPunks collection worth 77 Ether (ETH) was sent to a burn address to be permanently destroyed. However, the collector intended to borrow some money against it to buy another NFT.

The metaverse, a futuristic concept imagining an interconnected virtual reality where people can socialize, work, and play, has been gaining significant traction as a pivotal element of the future internet. 

Bitcoin NFT inscription activity has remained strong with consistency in the daily number of NFTs inscribed on Bitcoin. At the same time, the infrastructure to foster Bitcoin trading is finally coming together with the development of wallets and marketplaces supporting Ordinals.

IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that aims to tokenize and support the boxing industry.

The crypto-friendly regulations have turned Dubai and the United Arab Emirates (UAE) into a hotspot for Web3 technologies. Since Dubai set a clear regulatory framework for crypto welcomed by most industry players, it has become a second home for many global Web3 projects, including those dealing in the decentralized finance (DeFi) and NFT scenes.

RobotEra, a blockchain-based metaverse game, has been grabbing attention in the metaverse gaming space. The platform is gearing up for launch and has already secured over a million dollars in funding during its presale. 

The Federal Reserve was facing a tough decision as it weighed the stability of the banking system against economic stability in its interest-rate decision--but decided to hike rates by 25 basis points Wednesday in an effort to continue to curb inflation and give its vote of confidence in the stability of the financial system.

The recent collapse of the Silicon Valley Bank (SVB) resulted in dwindling numbers for NFT trading volumes, with traders holding on to their assets amid the banking crisis in the United States.

The term “metaverse” is becoming increasingly common, but while many people have likely heard it used, they often don’t know what it means. 

Entertainment and gaming giant Sonyhas filed for a patent to make non-fungible tokens (NFTs) transferable and usable between various games, devices, and consoles.

Nonfungible token (NFT) marketplace Magic Eden has launched its own “fully audited” marketplace for Bitcoin Ordinals, leveraging the surging interest in “Bitcoin NFTs.” 

The United States Internal Revenue Service said it plans to release guidance on having nonfungible tokens, or NFTs, treated as collectibles under the U.S. tax code.

Bestselling author Neal Stephenson spoke with Cointelegraph at the Paris Blockchain Week 2023, discussing various topics, including problems within the current Web3 ecosystem and the metaverse — a term Stephenson coined in his 1992 book titled Snow Crash. 

Beginning March 20, folks across the crypto industry will be able to mint nonfungible tokens (NFTs) out of Cointelegraph’s 2023 Top 100. Cointelegraph unveiled its 2023 Top 100 list of the most impactful heroes and villains in the crypto and blockchain space in February. It was published in batches throughout the month, counting down to the top-ranked profile, with each entry including a bio and an animated picture.

Paris Blockchain Week 2023 (PBW) is about to kick off its ‍4th year as one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The event hosts over 10,000 attendees and was sold out the previous year. The Cointelegraph team is stationed in Paris for the latest news from the ground.

Arbitrum, a layer-2 Ethereum scalability protocol, announced the airdrop for its governance token ARB on March 16, and eligible receivers are expected to get the token by March 23. The hype around its airdrop has now helped another layer-2 solution zkSync, to see significant week-over-week growth.

The top six nonfungible token (NFT) marketplaces saw a rise in NFT wash trading for the fourth straight month with a total volume of $580 million.

As the United Arab Emirates (UAE) continues to provide a welcoming regulatory framework for blockchain-based technologies, nonfungible tokens (NFTs) continue to prosper within the region and are being used by projects in various ways. 

blockchain technology. To be specific, non-fungible tokens, or NFTs as they are commonly known, have been instrumental in transforming the perception of digital collectibles. Digital collectibles have proliferated in all directions and dimensions. Music, art, limited releases of digital items endorsed by celebrities, and gaming assets have all been subject to this digital collectible revolution. However, just like any technology, there is always an auxiliary aspect of an advancement that proves to be one of the biggest driving forces for it to be adopted by the masses, which includes but is not limited to investors and business pundits. We have seen something like this happen to the Internet when social media came into the picture. While the Internet had quite a lot of utility, social media was the biggest catalyst in driving mass adoption. One of the reasons that contributed to the success of social media was the fact that it was a place where people could engage and interact with each other. Parallel to this, it also offered an advertising opportunity for brands to reach their target audience. Extrapolating the results of the age-agnostic litmus test, it can easily be taken for granted that creating an ecosystem that brings together masses and advertising opportunities is bound to stand the test of time.