NFT Financial News

In the last two weeks, Azuki, Bored Ape Yacht Club, CloneX, and Mutant Ape Yacht Club have seen significant increases in floor prices and total sales volume. Over the last 7 days alone, all four projects have generated an estimated $365.9 million in value according to data from OpenSea. 

Just before the turn of the 19th century, Carl Benz announced what is now widely considered as the world’s first commercial automobile. At the time, it would have been impossible to predict how this one product could spur the development of a multi-trillion-dollar industry over the course of the next century — but it did.

Australia-based Immutable has announced that its layer 2 (L2) scaling protocol for Ethereum (ETH) and non-fungible tokens (NFTs), Immutable X, has partnered with the US-based videogame retailer GameStop (GME) to launch an NFT marketplace.

crypto assets in the Union Budget has boosted the morale of the crypto industry, particularly the new players or startups. In the light of recent developments at home and across the globe, there are voices that India is poised to emerge as a global hub for crypto players and enterprises. Market participants believe that cryptos can be viewed as an emerging asset because it is an intangible, digital currency that uses a highly sophisticated type of encryption to secure and verify transactions.

American singer-songwriter John Legend is solidifying his position among the ranks of celebrities flocking to the world of nonfungible tokens (NFTs), helping to launch a new NFT platform for musicians and other entertainers.

Speaking to ANI, Finance Secretary said, «Digital rupee will be backed by RBI which will never default. Money will be of RBI but the nature will be digital. The digital rupee issued by RBI will be the legal tender. We can purchase non-digital assets with the digital rupee like we purchase an ice cream or other things using our wallet or payments through UPI platform.» «Rest all are not legal tender, will not, will never become legal tender. Bitcoin, Ethereum, or any picture of Actor become NFT will never become a legal tender,» he added. Presented ByDid you Know?Sunny Leone took the lead among Indian actors to secure her digital assets when she broke the news about her association with NFT, two months back. This made her the first Indian a

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

The Coachella Valley Music & Arts Festival has partnered with FTX US to launch a series of NFT collectibles that includes tokenized lifetime access passes to its annual music festivals.

The Tezos network has seen impressive growth over the past 12 months in smart contract addresses and general adoption, primarily driven by non-fungible tokens (NFTs).

The global cryptocurrency market capitalisation dipped 5.66 percent over the last 24 hours to $1.65 trillion, while the trading volumes were up 29.45 percent to $82.63 billion.

In 2020, newly launched NFTs projects experienced costly gas wars that are gas priority auctions where buyers battle to secure their spot on the next block, potentially losing ETH to failed transactions. In 2021 digital scarcity and utility drove the NFT hype in the constantly surging markets and toward the end of the year, how much attention any collection received seemed to be at the mercy of influencers’ opinion. 

Rap superstar Ye, who changed his legal name from Kanye West last October, is not planning to roll out a non-fungible token (NFT) -- at least not for now. However, he could change his mind later, according to the artist’s recent Instagram post.

Famed digital artist Pak, also known as Murat Pak, aims to collaborate with WikiLeaks founder Julian Assange to release a new non-fungible token (NFT) collection dubbed 'Censored'.

virtual digital assets at a flat rate of 30 per cent, with no deduction and no provision to set off against any other income. Gift of virtual digital assets is also proposed to be taxed in the hands of the recipient. The government has also proposed a 1 per cent tax deducted at source (TDS) in order to track the transactions. Many see this as a masterstroke that will help the government track every transaction as market players will be liable to deduct taxes and report the transaction to the government. The clarification on the taxation of cryptocurrency was a long pending demand from the industry.

Let's start off the week with the latest nonfungible token (NFT)-related news in today's Nifty News. The following collections are either ongoing or launching the first week of February.

NFT projects have seemed to divert from what once was traditional minting, to now requiring potential buyers to join whitelists to access the pre-sale before the collection goes public. 

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

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Non-fungible tokens (NFTs) data aggregator CryptoSlam has identified more than USD 8.3bn worth of wash trading on LooksRare, a new NFT marketplace. Subtracting this volume, it turns out that major NFT marketplace OpenSea is still the dominant player in the field.

LooksRare made its debut on Jan.10 and the recently launched NFT marketplace has drawn a lot of attention, not only because its daily trade volumes were more than double Opensea’s on the second day of trading, but also because it has become the new playground for wash traders.