NFT Financial News

A new free-to-mint NFT project called The Saudis has become the second most traded collection on major marketplace OpenSea over the past seven days.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Dunamu, a major fintech firm in South Korea that operates crypto exchange Upbit and several other blockchain and securities platforms, is planning to invest 500 billion won ($380 million) to create about 10,000 new Web3 jobs in the next five years.

As nonfungible tokens (NFTs) continue to garner interest, the United States Patent and Trademark Office and U.S. Copyright Office are set to launch a study into their impact on intellectual property rights.

The crypto-powered play-to-earn (P2E) game Axie Infinity (AXS) is again showing signs of life, after being hit hard by a price collapse in the NFT and P2E sectors in crypto. However, sales of NFTs for the game have still fallen significantly in May and June.

NFTNYC, one of the largest nonfungible token (NFT) events of the calendar year, is preparing to open its doors for a fourth year, celebrating the diversity of NFTs across sixteen sectors, including art, film, sports and ticketing. 

According to a July 11 announcement, this virtual version of the Playboy mansion will feature a host of gaming, social and programmed events, along with future NFT collectible releases from the firm.

Gaming giant GameStop (GME) launched its own non-fungible token (NFT) marketplace on July 11. The new NFT marketplace intends to deliver low fees and high speeds. 

crypto holdings by showing them as capital gains or business income and paying the appropriate tax. Hence, with the introduction of new income tax rules on cryptocurrency, it was apparent that there would be some discomfort in the crypto industry. The new tax rules require crypto investors to pay tax at 30% (the highest tax bracket) on profits from the sale of crypto and NFTs. Unlike in other asset classes, retail investors will not be able to set off losses incurred against crypto coins, claim expenses or deductions, or benefit from a reduced slab for long-term capital gains. To trace crypto transactions, the government has imposed 1% TDS on every crypto transfer. This has come into effect from 1st July 2022. The new TDS provision would significantly impact intraday trader's capital. The funds will be locked up to a year until the income tax returns are filed for refunds.

Crypto exchange OKX has announced that it has made a deal with English Premier League (EPL) champions Manchester City to become the team’s training kit sponsor for the 2022-23 season.

Play-to-earn (P2E) Metaverse game Axie Infinity appears to be on the mend, with its NFT sales volume pumping 205% over the past seven days.

On Friday, Web3 subscription and ticketing solution provider Revuto announced a novel subscription model for Netflix and Spotify, using a nonfungible token (NFT) solution.

When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games. So can NFTs contribute any additional value to traditional games, other than turning them into play-to-earn "moneymakers?"

The idea underlying digital fashion can be difficult for many to grasp since buying/trying out clothes that only exist in a virtual world can seem quite strange at first. However, with this niche market continuing to gain a lot of traction recently, many experts are beginning to view the idea of the Metaverse reshaping the future of fashion a lot more seriously.

Community-driven gaming firm, Planetarium Labs, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next and WeMade. The funds will be used to build a blockchain-based gaming ecosystem in which players can participate in the game network while also allowing members of the community a seat at the table.

A new NFT collection is driven by Egyptian mythology — and has bold ambitions to be at the heart of an immortal world.

Ethereum domains showed an increase in demand as Ethereum Name Service (ENS) registration totaled 126,141 registrations in just one week. 

Web3, the third iteration of the internet, is rapidly approaching the consumer mainstream with the promise of disrupting the status quo of digital interactions and creating a new paradigm for democratic engagement. 

American automaker Chevrolet has seen (nearly) zero interest in its first non-fungible token (NFT) event, even though it's promised to come with a free 2023 Corvette Z06.

Embattled crypto investment firm Three Arrows Capital (3AC), which has recently filed for bankruptcy, ostensibly holds more than USD 7.5m worth of blue-chip NFTs.

Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini's motorsport department, has announced its partnership with nonfungible token (NFT) platform Go2NFT to launch a program that certifies racing car parts.