NFT Financial News

Decentralized finance (DeFi) protocols experienced a boom in total value locked across different staking pools in January 2023. The market hit $74.6 billion worth of staked assets, increasing by 26% from December.

A big concern for users in decentralized finance (DeFi) involves the industry’s susceptibility to exploits. A report from Privacy Affairs revealed hackers stole $4.3 billion worth of cryptocurrency in the time period from January to November 2022 — a 37% increase from the previous year.

The rise of Web3 functionality has been a boon for decentralized domain name services over the past two years, with millions of blockchain-based domains registered to date. Challenging market conditions may have hampered exponential growth, but industry leaders believe that utility-driven adoption will continue in the future.

Only days after the launch of the Bitcoin (BTC)-based Ordinals protocol, its creators have had to deal with its first shock pornographic image which has been inscribed into the blockchain.

The first-ever exchange-traded fund focused on NFTs and metaverse assets has announced closure as the crypto winter continues to take more victims. 

The latest report by the security-focused ranking platform CertiK revealed two individuals behind a several-million-dollar-heavy scam – and there is a twist to the duo’s partnership.

The potential behind the metaverse is becoming greater as virtual and physical worlds converge. Market intelligence firm Contrive Datum Insights recently found that the global metaverse market is estimated to surpass $1.3 trillion by 2030. According to the study, this growth will be driven by newly adopted virtual economy trends, combined with the rise of both crypto and online games.

Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects.

As nonfungible tokens (NFTs) attract more users, they also capture the eyes of scammers. Bad actors in Web3 have set their sights on digital collectibles, with millions being lost through scams and various attacks. 

In 2021, the world witnessed nonfungible tokens (NFTs) as a possible short-term investment opportunity and a way to make a quick buck.

Non-fungible token (NFT)-based fantasy game and marketplace Sorare: Football has partnered with the Premier League in a multi-year licensing deal - crypto drama or not.

Blockchain-powered fantasy sports firm Sorare has sealed a deal with the English Premier League to mint Ethereum-based digital player cards on its platform.

Should people who purchase nonfungible tokens (NFT) be entitled to refunds if they decide they don’t like their digital pictures? Some Europeans are beginning to make that case under a 25-year-old law.

The trademark infringement trial between French luxury brand Hermès and digital artist Mason Rothschild is set to go ahead on Jan. 30 in a Manhattan federal court.

The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it’ll be good for the Bitcoin ecosystem. 

Nonfungible token (NFT) entrepreneur Wylie Aronow of Yuga Labs — the team behind Bored Ape Yacht Club (BAYC) and CryptoPunks — will be taking a leave of absence from the office to manage a host of heart failure symptoms.

About two months after the FTX collapse, the Solana network is stronger than ever, according to Austin Federa, head of strategy and communications at the Solana Foundation. 

Crypto proponents would be wise to keep their eyes on nonfungible token (NFT) and metaverse trademark applications this year, which are “reliable signals” of future-use plans.

German luxury car manufacturer Porsche's nonfungible token (NFT) collection reached 2,839 Ether (ETH) ($4.5 million) in total sales volume, according to data from NFTScan at the time of writing on Jan. 26. The collection had a floor price of 2.74 ETH and a high price of 9.18 ETH, with over 1,705 total sales. 

Kevin Rose, the co-founder of Moonbirds non-fungible tokens (NFTs) and the CEO of Proof Collective, has fallen victim to a phishing attack due to which he lost about $1.1 million worth of tokens.Some of the stolen NFTs include The Currency artwork by popular British artist Damien Hirst, one Autoglyph, 25 Art Blocks, one Cool Cat, as well as nine OnChainMonkey tokens, among others. "I was just hacked, stay tuned for details - please avoid buying any squiggles until we get them flagged (just lost 25) + a few other NFTs (an autoglyph)," the entrepreneur said in a tweet. In a thread retweeted by Rose, Arran Schlosberg, the vice president of Proof Collective, provides his take on how the hacker managed to seize control over the businessman’s NFT collection. On the evening of January 25, Rose "was phished into signing a malicious signature that allowed the hacker to transfer a large number of high-value tokens. Here is a breakdown of what happened, our immediate response, and our ongoing efforts," Schlosberg said.

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