NFT Financial News

Early Wednesday, Twitter suspended access to nine accounts associated with promoting nonfungible tokens, or NFTs, on the Solana (SOL) ecosystem. The move comes just ahead of the highly anticipated launch of the y00ts NFT collection, a follow-up to DeGods, the most popular NFT collection on Solana, this Friday. Shortly after the suspension, Austin Federa, head of communications at the Solana Foundation, stated:

Australians may not ever see their nonfungible tokens (NFTs) take them “to the moon,” but they might be able to get to the next best place — the edge of space.

PROOF, the private community behind the Moonbirds NFT collection, has announced it is shifting its blue-chip collection completely “in chain” — allowing images to be fully contained within the underlying smart contract. 

Changpeng Zhao (CZ), CEO of Binance, criticized the creation of a novel "free-to-own" business model in the GameFi space on Tuesday, writing:

 

Facebook and Instagram users can both post nonfungible tokens, or NFTs, and digital collectibles to their accounts by linking their wallets.

OpenSea, the world's largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow.

NFT enthusiasts hard, who either own them or wish to own them Only one NFT collection in the top 25 platforms by market capitalization has attempted to confer intellectual property rights to the purchasers of digital arts, the report added. According to the report, the majority of NFT operators apparently have 'misled NFT purchasers' about the extent of their rights, and this has faced some backlash from the buyers. However, NFT players have come out in defence. The question of ownership, both intellectual and actual, when talking about an NFT is way more nuanced than it is with physical art and assets, they said.

Bengaluru-based weTrade eliminated trading fees for more than 50 coins available on its platform, including Bitcoin, Solana and Ethereum, to make it both simple and rewarding for users. The company offers the most user-friendly KYC experience, while ensuring the highest levels of monitoring to ensure the safety of customer assets. The platform also includes a mature audit and tracing mechanism to ensure customers trade without worry and receive benefits while complying with tax regulations.

NFT friendly rap iconsEminem and Snoop Dogg will be performing at MTV’s Video Music Awards (VMAs) together on Sunday, in a performance inspired by the Otherside metaverse and Bored Ape Yacht Club (BAYC) NFTs.

 

Confectionary giant Mars, which is maker of M&M's, Snickers, Mars Bars, Milky Way Bars, Twix and more, has joined hands with Metaverse brand KINGSHIP to create a limited edition box of M&M's featuring content from the Bored Ape Yacht Club (BAYC).

Global confectionery giant Mars has teamed up with virtual metaverse band KINGSHIP to create limited edition boxes of M&M'S featuring content from the Bored Ape Yacht Club (BAYC).

The hype surrounding nonfungible tokens, or NFTs, may have died down in recent months due to the crypto bear market, but that hasn’t stopped digital artists from experimenting in the new and exciting space. Gal Yosef, a globally renowned self-taught artist in the field of 3D art and animation, has proven his versatility by launching two successful NFT collections. In an exclusive interview with Cointelegraph, Yosef explained why NFTs are a “natural” transition for digital artists and why the industry is poised to grow despite current headwinds.

 

In this week’s newsletter, read about how the Metaverse is a catalyst for nonfungible token (NFT) adoption. Check out how GameStop’s NFT marketplace revenue dropped and how MTV added a metaverse award at the VMAs. In other news, learn about how Telegram’s founder has been floating the idea of integrating NFT-like smart contracts for Telegram usernames. And don’t forget about this week’s Nifty News roundup featuring Decentraland’s Metaverse Art Week. 

In Decentraland’s third annual Metaverse Art Week held on Aug. 24-28, curators turned to new ways to utilize digital space to bring more interactive and true-to-life experiences of art. 

Crypto exchange Uniswap engaged in talks with multiple nonfungible token (NFT) lending protocols, according to a social media post from Uniswap's head of NFT product Scott Lewis.

Chingari has launched its video NFT marketplace named 'Creator Cuts.' The company said that it is the world's first ever video NFT (v-NFT) marketplace, enabling creators to mint video NFTs Launched in 2018 and powered by Gari Token, Chingari is an on-chain social app and claimed this launch as a revolutionary new offering, fostering and proliferating the creator economy. However, only marquee videos from top creators will be minted as NFTs. Creator Cuts is aimed at empowering the creators with a financial and community engagement opportunity, along with enabling the community to connect with their favourite creators by owning a piece of their unique art. Creators will be able to derive monetary benefits from the same. Buyers of these NFTs will get 10 per cent of the daily income in Gari tokens earned by the creator on the engagement they receive on their videos on the Chingari app.

The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles. 

G4AL, a Spanish game studio, has partnered with India's Yield Guild Games (YGG) — IndiGG. The partnership will focus on launching a blockchain game named — 'Elemental Raiders'. After its recent partnership with YGG, Manel Sort and his team are focusing on expanding across continents through YGG’s sub-DAOs, offering cohort NFT Chests to gamers and guild members, and the opportunity to play G4AL’s upcoming Elemental Raiders. The game will be out on the net and available on mobile by the last quarter of the current year. However, its beta version is already live, and IndiGG users can play with the allocated NFT Chests with potential $GGT tokens up for grabs. Polygon-backed IndiGG is a subDAO of YGG aiming to create a Web3 and GameFi ecosystem flourishing in India. Sophistication, scaling and growth have been the heart of the country in terms of gaming, with over 400 million gamers, making it one of the largest markets in the world.