NFT Financial News

Artifacts recovered from the wreckage of the Titanic are set to be tokenized using blockchain technology through a partnership driven by the company that acts as the steward of the sunken vessel.

Cardano is a proof-of-stake (PoS) platform launched in September 2017 by Ethereum co-founder Charles Hoskinson. In September 2021, Cardano added support for smart contracts, which paved the way for developing decentralized finance (DeFi) and nonfungible token (NFT) applications. NFTs landed on Cardano’s blockchain in 2022, with Cardano’s native cryptocurrency ADA (ADA) utilized to buy and sell them.

The co-founder of the social media website Reddit, Alexis Ohanian, reportedly bought 50,000 Ether (ETH) for just $15,000 during the cryptocurrency’s presale in 2014, a cost of just 30 cents per coin.

Nonfungible token (NFT) collection Friendsies has refuted claims it is “abandoning” its NFT project following a tsunami of “rug pull” accusations aimed at its founders.

crypto market started the week with a correction after the US-based crypto exchange, Kraken, paused its staking service and paid a fine of US$30 million to the SEC last week for failing to register the service. Bitcoin started by trading at US$22,000 level and dropped to US$21,000 before the release of the US CPI data. After the release, most cryptocurrencies rallied. Bitcoin hit its highest peak since August on Thursday. BTC traded at the US$25,250 level. However, BTC could not sustain the gains and fell back to the US$23,000 level after the PPI data release, which was higher than expected, raising concerns among investors and traders over the inflation. Whenever there is a fear of inflation, BTC falls as it does not like it. Investors run short of funds to spend when interest rates go up. Hence BTC falls. Despite the decline, BTC is up by more than 72% from its cycle’s lowest point in January.

Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds has confirmed that their flagship conference “Proof of Conference” scheduled for May has been canceled, citing “less interest than anticipated.”

A small monetary bounty and an aptitude for coding were all it took to fork the Ordinals protocol to the world’s second-ever cryptocurrency network, Litecoin (LTC) earlier this week, its creator told Cointelegraph.

Real Vision CEO and co-founder Raoul Pal believes nonfungible tokens (NFTs) will act similar to “high-end property” in the traditional economy, outperforming Ether (ETH) during crypto market boom cycles.

Crypto exchange Binance has launched a new update to its fan token platform that focuses on helping sports teams engage with their fans by offering various rewards to token holders. 

The logo for the Bored Ape Kennel Club (BAKC) from nonfungible token (NFT) conglomerate Yuga Labs is getting a refresh after recently surfaced allegations of intellectual property theft.

The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive outcomes for each user.

The iconic wolf skull logo of Bored Ape Yacht Club (BAYC), Yuga Labs’ premier nonfungible tokens (NFTs) collections, was allegedly illegally trademarked without proper licenses. The image was originally released by a company specializing in drawing tutorials for children and beginners.

Bitcoin (BTC) NFTs will have a positive impact on Bitcoin ecosystem by improving its security and incentivizing developers to build on the network, according to independent developer Udi Wertheimer. 

The game industry has taken notice of the growing GameFi sector, which utilizes blockchain technology, and many brands have launched their own unique blockchain games. However, many of these games lack the engaging gameplay mechanics and enjoyment found in successful traditional games. Undeads aims to bring these elements to the forefront with high production values, high entertainment and replayability values not yet seen in the Web3 space.

Major nonfungible token (NFT) marketplace OpenSea announced a massive structuring around lower platform fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base.

Google-owned YouTube has appointed Web3-friendly exec Neal Mohan as its new CEO following the departure of Susan Wojcicki this week.

Non fungible tokens (NFTs) started as what are essentially tamper-proof ledgers to verify authenticity and guarantee collectors’ ownership rights over artworks. However, since their emergence several years ago, NFTs have become much more than that. Now, many projects claim to seek to deliver new forms of value and utility. So far, many have centered around community building and intellectual property. As of yet though, no notable projects have tried to center their build around the potential of the core technology that is blockchain.

On this week’s episode of NFT Steez, co-hosts Alyssa Expósito and Ray Salmond continue their chat with Justin and J.P. Alanis, the co-founders of StoryCo — an open media platform — on the prospect of a community of creators franchising intellectual property (IP) through collaboration and soulbound tokens. 

According to a new twitter post on Feb. 16, e-commerce platform eBay's nonfungible tokens (NFT) marketplace KnownOrigin will launch creator smart contracts for its artists. With the new contract, artists will be able to split earnings and earn royalties as co-creators. As told by KnownOrigin, users have been testing its Creator Contract beta release for the past few weeks, with 84 contracts thus far deployed and 250 edition of NFTs minted. From Feb. 24 onwards, all approved creators on KnownOrigin will be able to deploy and mint work on their own contract for public release. Deployment will not require coding knowledge.

While cryptocurrencies have been quite the rage over the past couple of years, nonfungible tokens (NFTs) have risen as an alternate asset class within the cryptocurrency ecosystem. This ecosystem is revolutionizing the world of art and gaming, among a host of other industries.

Abu Dhabi's tech ecosystem has launched a new initiative with over $2 billion of capital committed to funding Web3 startups, blockchain technologies, and metaverse apps in the United Arab Emirates capital.