NFT Financial News

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The founder of NeoNexus, a Solana-based NFT project, has stated the team is no longer developing the project, blaming the drop in Solana (SOL) prices for the decision.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Major crypto derivatives exchange BitMEX is finally embracing ethereum (ETH), telling its customers that they can now make deposits, withdrawals, and trades using the coin, and that more coins will be added “over the coming weeks.”

cryptocurrency. Now, suddenly, it's inescapable. Look one way, and there are Matt Damon and Larry David doing ads for crypto startups. Swivel your head — oh, hey, it's the mayors of Miami and New York City, arguing over who loves Bitcoin more. Two NBA arenas are now named after crypto companies, and it seems as if every corporate marketing team in America has jumped on the NFT — or non-fungible token — bandwagon. (Can I interest you in one of Pepsi's «Mic Drop, genesis NFTs? Or maybe something from Applebee's „Metaverse Meals, NFT collection, inspired by the restaurant chain's “iconic, menu items?) Crypto! For years, it seemed like the kind of fleeting tech trend most people could safely ignore, like hoverboards or Google Glass. But its power, both economic and cultural, has become too big to overlook. Twenty percent of American adults, and 36% of millennials, own cryptocurrency, according to a recent Morning Consult survey. Coinbase, the crypto trading app, has landed on top of the App Store's charts at least twice in the past year. Today, the crypto market is valued at around $1.75 trillion — roughly the size of Google. And in Silicon Valley, engineers and executives are bolting from cushy jobs in droves to join the crypto gold rush.

The global cryptocurrency market-capitalisation tumbled 1.68 percent over the last 24 hours to stand at $1.86 trillion, while trading volumes dipped 5.61 percent to $77.97 billion during this period.

Cointelegraph journalists at South by Southwest, or SXSW, in Austin, Texas reported that NFTs were everywhere this year, marking a new phenomenon for what began as a music festival in 1987. Since evolving into a film, tech and general culture gathering, and after a two-year hiatus, SXSW added blockchain programming to the mix with crypto-related panels, blockchain company sponsors and NFT community interactive experiences. 

COVID-19 brought many things to a halt, motorsports included. Although disruptive, the resulting digital reality boosted the sims racing experience, a reality driven by popular drivers now making an experience in virtual events. This list includes Formula 1’s Virtual Grand Prix, The Race: All-Star Series and eNASCAR featured on ESPN, FOX and other major TV broadcasters.

The Bored Ape Yacht Club (BAYC) has officially revealed their ERC-20 utility and governance token ApeCoin (APE), marking a diversification from profile-picture projects (PFPs) into "culture, gaming and commerce" within the Web3 sphere.

Popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC) and Ethereum (ETH) wallet MetaMask have confirmed their respective plans for tokens and decentralized autonomous organizations (DAOs) in a bid to reward some early adopters.

Owners of Bored Ape Yacht Club (BAYC) NFTs — including celeb holders like Eminem, Steph Curry, Jimmy Fallon and Mark Cuban — are set to receive a brand new token called ApeCoin (APE) as yet another incentive for being part of the exclusive digital asset club. 

Despite the fall of nonfungible token (NFT) prices, play-to-earn NFT gaming carries on as more people see it as a potential way to make a living. 

This week's Nifty News round up follows a weekend full of Yuga Labs announcements, the start of Austin's SXSW conference and added NFT support for 1inch Wallet users.

The world loves a good underdog story. At its core, many associate themselves with the underdog, recognizing the uphill battle they have overcome in their own lives. The capability to relate has since made the story universal, with similar narratives of constant difficulty being met with miraculous achievements occurring across sports, business and now cryptocurrencies aimed at evening the financial playing field. Not only do these stories give the world the inspiration needed to inspire their own forms of change, but with decentralized technologies, they also give participants a chance to be a part of the success.

Meta-owned major photo and video social network Instagram might start supporting “some” NFTs “over the next several months,” according to multiple reports, citing Meta CEO Mark Zuckerberg. He also stressed the importance of the metaverse for his company.

Nonfungible tokens (NFTs) have received a lot of media attention, but experts agree that their impact will go beyond selling digital artwork or tweets and alter how people communicate ideas forever.

Meta CEO Mark Zuckerberg has revealed that its video and photo sharing app, Instagram, is preparing to add non-fungible tokens (NFTs) to the platform.

The market for non-fungible tokens (NFTs) has outperformed the broader crypto market this year both when measured in ethereum (ETH) and US dollar terms, according to the Ethereum-focused data analytics firm Nansen.

Kimbal Musk, Nadya Tolokonnikova and Alex Zhang took to the SXSW stage on Monday to participate in the "Move Over NFTs. Here Come the DAOs" panel at Austin's Convention Center. Tolokonnikova is a former member of the Russian protest punk rock group Pussy Riot, and the co-founder of UnicornDAO and UkraineDAO. Zhang co-founded the social club, DAO Friends With Benefits, and serves as its mayor, while Musk cofounded the philanthropic Big Green DAO. Journalist Michael Casey moderated.