Alien CryptoPunk NFT Sees Record Price In Latest Groundbreaking Sale

As one of only nine alien punks, CryptoPunk 635 is an ultra-rare entity. It was sold as the fourth highest-value piece in the entire collection.

According to Thursday’s statement, the piece was previously owned by CryptoPunk’s parent company, Larva Labs, and last sold by the Christie’s Contemporary Art Evening Sale in May 2021. 

The deal between the NFT collection and the new owner of CryptoPunk 635, who has chosen to stay anonymous, was facilitated by high-value NFT broker, Fountain.

CryptoPunk 635, the Alien originally owned by Larva Labs and sold at the Christie’s Contemporary Art Evening Sale in May 2021, has just been acquired by an anonymous collector in a deal brokered by Fountain. We’re honored to have played a small role in this sale. Congratulations… pic.twitter.com/glisy3MZpv

— Fountain (@Fountainxyz) April 25, 2024

“We’re honored to have played a small role in this sale,” the NFT project said in Thursday’s statement. “Congratulations to the seller and the new owner!”

A Goldmine Minted On The Ethereum Blockchain

Launched in 2017 by Canadian software developers Matt Hall and John Watkinson, CryptoPunks is a collection of an estimated 10,000 uniquely generated digital depictions inspired by the cyberpunk movement. 

The project’s website states, “No two are exactly alike, and each one can be trustlessly collected by anyone interacting with the Ethereum blockchain.”

While most of the project’s collectibles are depicted as human, a few select limited edition pieces are in circulation that represent zombies, apes, and aliens.

Other digital artworks culpable to CryptoPunk 635 sold by the project have retailed for as high as $23.7 million.

Just last month, another anonymous buyer purchased an alien CryptoPunk for $16.03 million, the second-highest recorded transaction in the project’s history.

Good News For The NFT Art World’s Staying Power?

In March 2022, CryptoPunks was acquired by the wildly successful NFT collection Bored Ape Yacht Club (BAYC)’s parent company, Yuga Labs, for an undisclosed amount.

“We’ve long admired CryptoPunks, and the work of the project’s founders, Matt & John,” Yuga Labs said in a post to X shortly following the announcement. “They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga.”

Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from @LarvaLabs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj

— Yuga Labs (@yugalabs) March 11, 2022

Those who missed out on the NFT project’s latest sale need not fret: CryptoPunk 5905, a similar alien punk, is currently on the market for $15.64 million.

Despite NFT art monthly sale prices trending downward in recent years, the sale of CryptoPunk 635 and others may signify staying power for NFTs throughout the art industry.

The post Rare Alien CryptoPunk NFT Sells For Record Breaking $12.38 Million ETH appeared first on Cryptonews.

This multi-year collaboration is set to unveil a collection of Manchester City-themed non-fungible token (NFT) trading cards. This exclusive offering is said to immerse fans in a unique and innovative experience with football memorabilia. 

Quidd Is Facilitating Cityzens Engagement

Big News! @Quidd has officially partnered with @ManCity and the new collection drops on 2 May!

Get ready to collect some of the best players in the game https://t.co/Y3cYAjPHWZ pic.twitter.com/l9hjBkl1pc

— Quidd (@quidd) April 24, 2024

Quidd will be the exclusive platform for fans to acquire these one-of-a-kind digital assets, unlocking a host of special benefits, including merchandise, hospitality tickets, and unforgettable experiences, all designed to make our fans feel genuinely valued.

Quidd chief executive Michael Bramlage expresses the significance of the partnership, stating; 

“This partnership signals our intent to revolutionize the world of sport collectibles, so it makes sense for Quidd to align with Manchester City, the most forward-thinking and progressive soccer club on Earth.”

Tom Boyle, Vice-President of global partnerships marketing and operations at City Football Group, expressed his excitement about the collaboration’s potential to transform the traditional football pastime of collecting cards and memorabilia in the fast-growing tech world. 

Boyle added,

“We’re excited to help transform the traditional football pastime of cards and collectibles in a new digital age alongside Quidd, enabling us to further connect with our fans across the globe.”

The partnership’s inaugural offering will feature over 200 bespoke player cards, which will be released on May 2 through the state-of-the-art Quidd marketplace.

To commemorate the launch, the first 10,000 Cityzens, the affectionate term for Manchester City fans, will receive two free packs and exclusive access to additional “For The Fans” packs within 72 hours of release.

Cityzens who unlock digital rewards through the Quidd packs will also have the opportunity to participate in real-world events and purchase opportunities, including official Manchester City merchandise and hospitality tickets, as well as winning “money-can’t-buy experiences,” such as an exclusive opportunity to watch a first team training session at the City Football Academy.

This initiative engages fans in a novel digital collecting experience and rewards their loyalty with exclusive perks and privileges.

This partnership with Quidd marks Manchester City’s latest foray into the NFT space. It builds upon previous initiatives that garnered much attention in the sports or crypto space.

From commemorating historic moments in the club’s illustrious history to celebrating women’s football and empowering fans to participate in exclusive NFT drops, Manchester City continues to push the boundaries of innovation and strategic partnership in the sports industry.

Manchester City At The Forefront Of Crypto & Web3 Adoption

Manchester City has been actively exploring the NFT space, with recent initiatives including the launch of its “Unseen City Shirts” NFT collection on the OKX blockchain on April 22. 

This collection features limited NFTs tied to physical, limited-edition jerseys featuring hand-painted artwork. Moreover, the club partnered with Sony in 2022 to develop a virtual version of Etihad Stadium, making it reportedly the first officially licensed football stadium built in the metaverse.

Furthermore, Quidd’s partnership with Manchester City adds to the club’s impressive roster of global sponsors, including top-line partners such as airline Etihad Airways and sportswear manufacturer Puma. These partnerships have significantly contributed to the club’s record revenue during the 2022–23 Premier League season.

Notably, this collaboration represents Quidd’s second partnership with a professional football team for the release of themed trading cards. Last month, Quidd secured a similar multi-year partnership with Newcastle United, marking the football club’s first venture into digital collectibles. 

Manchester City’s presence in the NFT space is already established, with previous initiatives such as partnering with PUMA to release an NFT drop commemorating the tenth anniversary of its first Premier League triumph and launching the “Same City, Same Passion” NFT collection celebrating women’s football. 

Additionally, OKX is collectively trying to position itself at the forefront of mass adoption. Last year, OKX signed a $70 million deal to become Manchester City’s official sleeve sponsor, which is evidence of this. 

Manchester City also uses all these to position itself at the forefront of innovation, creating new avenues for fan interaction, revenues, and engagement.

The post Manchester City Teams Up with Quidd to Launch Digital Collectibles and Fan Experiences appeared first on Cryptonews.

Entitled the “Her Live and Gratitude” necklace, Trump’s latest design “can be engraved with names, initials, or significant dates to create a one-of-a-kind piece of jewelry.”

Melania Trump Launches Necklace And NFT On Solana Blockchain

Selling for $245, buyers will also receive a “limited edition digital collectible” minted on the Solana blockchain alongside the gold vermeil pendant.

“Being a mother is one of the most important roles in life,” Trump said in a statement Sunday. “For this Mother’s Day, I have designed the “Her Love and Gratitude” necklace to express immense gratitude and honor all mothers.”

Let’s honor and celebrate all mothers with love and gratitude. https://t.co/ESihnAQ8kg pic.twitter.com/Nj3IKfwzG1

— MELANIA TRUMP (@MELANIATRUMP) April 21, 2024

The customizable necklace and corresponding NFT mark the latest venture for the polarizing political figure, having first cashed in on the craze by selling a digital token called “Melania’s Vision” in December 2021.

Trump, whose own mother passed away earlier this year, has largely kept out of the spotlight amid Donald Trump’s campaign ahead of the 2024 U.S. presidential election.

In April 2023, the former Republican president released the second edition of his controversial Trump Digital Trading Cards for $99, prompting the value of the first batch of NFTs originally released in December 2022 to drop significantly.

Data from OpenSea reveals that Trump’s NFT brand may be dying, however, with the last documented sale of the tokens occurring over three weeks ago.

Donald Trump’s Crypto Stance

Despite disparaging cryptocurrencies in the past, Donald Trump has been fairly active in crypto, telling CNBC that he likes to “make money” and “do little things for fun with it” earlier last month.

Recent data from digital asset venture capital firm Paradigm revealed that Trump was largely favored over incumbent President Joe Biden by the crypto community at large, receiving 48% of digital asset users’ votes compared to Biden’s 3%.

A number of Trump-themed meme coins have soared in the lead-up to the general election, with MAGA Coin (TRUMP) surging in price in recent months.

In addition to the “Her Love and Gratitude” necklace, Trump is currently selling two other NFTs commemorating Women’s History Month and National Foster Care Month, each retailing at $150.

According to the U.S. political site, The Hill, the former First Lady is set to make her first official public appearance in recent memory at a fundraiser this Saturday at the Trump estate in Mar-a-lago.

The post Former First Lady Melania Trump Selling Mother’s Day Necklace With NFT On The Solana Blockchain appeared first on Cryptonews.

The physical western-inspired varsity jacket, made of suede buckskin and featuring the brand’s logo emblazoned across the front, debuted at Louis Vuitton’s Autumn/Winter 2024 men’s runway show in Paris this past January. 

Louis Vuitton Launches “Phygital” Varsity Jacket To VIA Holders

Holders of the luxury company’s VIA NFT project who purchase the jacket (going for an estimated $8,450) will also gain its digital twin in the form of a collectible NFT, of which only 200 pieces are available.

The piece’s market release plays on the concept of the new concept of “phygital” goods—when both digital and physical copies of a product are made and sold.

The physical varsity jacket is expected to be shipped to purchasers by November or December of this year, while its digital copy will be available immediately for purchase.

Pharrell Williams Embraces The World Of Web3

The latest digital launch from Louis Vuitton marks the French fashion house’s continued efforts to capitalize on Web3 fashion, particularly regarding exclusive NFT-based experiences.

In June 2023, the luxury brand unveiled its application-only VIA project last year, with customers able to purchase its first Web3 creation in the form of a $41,000 digitized version of its iconic LV trunk aptly named “The Treasure Trunk.”

According to a statement from Louis Vuitton at the time, the trunk was “designed for those who seek to travel through new dreams and new realities, and collect unique creations along the way.”

The project marks the second NFT-related product Williams has launched with the brand following his debut last June, featuring the company’s orange monogram Speedy 40 bag, which sold for just over $9,000.

Louis Vuitton VIA. The first VIA journey is now available. Discover the Speedy 40 VIA @Pharrell, revisiting the Maison's iconic bag crafted in 1930. Discover more at https://t.co/FN7LgduFzK#LouisVuittonVIA #PharrellWilliams pic.twitter.com/X2i5G7w9xQ

— Louis Vuitton (@LouisVuitton) July 17, 2023

Additionally, Louis Vuitton’s women’s creative director, Nicolas Ghesquière, launched a $6,400 mini trunk for the brand late last year.

Web3 Fashion’s Growth

As the metaverse continues to expand, the Web3 fashion industry is expected to see a boom in business within the next decade. By 2031, it’s expected to reach $4.8 billion and see a compound annual growth rate of over 26%.

Louis Vuitton has long stayed ahead of the curve of emerging tech in the fashion world, most recently launching a Discord server related to its upcoming endeavors.

The luxury brand’s decision to continue leading the Web3 fashion universe could lay the foundation of what luxury style may look like in the future.

The post Pharrell Williams And Louis Vuitton Launch NFT-Linked Jacket To VIA Holders appeared first on Cryptonews.

On Monday, the company announced it had signed a collaboration agreement with Animoca Brands to strengthen marketing efforts for “Symbiogenesis,” the game and its associated collection of 10,000 Ethereum NFTs.

Square Enix Meets Animoca Brands

Animoca Brands Japan said it would support the game with expertise in expanding its Japanese products overseas, NFT sales, and promoting collaboration with Animoca’s existing portfolio companies.

“Animoca Brands Japan is pleased to be working with SQUARE ENIX, an entertainment company that provides world-class content and IP that Japan can be proud of,” said Kensuke Amo, COO of Animoca Brands Japan.

Symbiogenesis is a PC narrative adventure game based in a “devastated high fantasy world” in which players roleplay as their Ethereum NFT avatars. Players can also interact with other in-game NFTs minted on the leading Ethereum scaling network Polygon. An NFT is necessary to access the Symbiogenesis game.

The game takes place on a ‘floating continent” on a future polluted version of Earth where humans fight to survive the attacks of a fantastical dragon. It will be featured in Animoca Brands Japan’s upcoming NFT launchpad, which is expected to go live this summer with Ethereum and Polygon support.

【Chapter2 Story teaser公開！ 04.アカネと武国の牢獄】明日、2章キャラクター情報公開予定！

……起きたのね。まあ、あのまま……アンタに死なれちゃ目覚め悪いし。
You're up, huh.And, well… I'd look terrible if you died.#SYMBIOGENESIS pic.twitter.com/3rKVdbs7Z9

— SYMBIOGENESIS -NFT Art＆Game Project- | SQUARE ENIX (@symbiogenesisPR) April 22, 2024

Square Enix Loves Crypto

This isn’t the first time Square Enix and Animoca have joined forces. In 2020, Square Enix led an investment round in the popular Animoca-owned NFT game “The Sandbox,” which later featured characters and assets from its Dungeon Siege game in Sandbox’s game-making tools.

Square Enix also launched Final Fantasy VII-based NFTs on Polygon in 2022 and invested $35 million in Bitcoin gaming and payment platform Zebedee that same year.

Last month, Square Enix announced separate investments in crypto-native PC launcher apps Hyperplay and Elixer Games.

“We are very excited about this initiative and look forward to working with Animoca Brands Japan to bring the Web3 experience to a wider audience in an even more strategic way,” said Symbiogenesis Producer Naoyuki Tamate on the partnership with Animoca.

The post Square Enix Is Developing Its Ethereum NFT Game Symbiogenesis With Animoca Brands appeared first on Cryptonews.

According to marketing material released before the event, those attending the upcoming Expo will receive exclusive NFTs of “MYAKU-MYAKU” which is the official character of the EXPO. The non-fungible tokens will be given away at the event starting from April 13, 2025.

At the World Expo 2025 in Osaka (Apr – Oct 2025), official NFTs ("MYUAKU-N") minted on the XRP Ledger will be distributed to millions of visitors!
you can get NFTs by visiting the Expo and completing missions.
you can get additional NFTs by using the Expo mobile payments… pic.twitter.com/a7jblbV48U

— Emi Yoshikawa {X} (@emy_wng) April 18, 2024

NFTs Back in Vogue 2025?

The “MYAKU-MYAKU” NFTs will have no cash value and cannot be bought or sold, although there will be proof of authenticity. No fees will be charged to create a “wallet” (a virtual “box” on the Internet to manage crypto assets) and to mint them on the blockchain.  ID will be required for registration for the app “EXPO2025 DIGITAL WALLET.”

Are NFTs dead?

As Japan’s SBI steps up its efforts to drop NFTs during a 2025 event several American firms have been removing NFT purchase protection as trading declines.

Earlier this week it emerged the payments giant PayPal plans to remove non-fungible token (NFT) purchases from its purchase protection program from May 20. In an online announcement, PayPal said amendments to its protection program will exclude NFTs and any payments that you initiated via a third-party platform using the PayPal Balance.

In January, GameStop revealed it had shut down its NFT marketplace, signalling its withdrawal from the cryptocurrency space. The announcement was made via a statement on the platform with the firm stating “the continuing regulatory uncertainty of the crypto space” as the primary reason behind this decision.

Trading of NFTs has been in decline for over a year. Data compiled by Statista shows the number of active wallets involved in NFT trading has declined.

Crypto-Friendly Osaka

The World Expo 2025 will be held in Osaka, Japan, In 2023, it emerged Osaka Digital Exchange Co. is set to revolutionize Japan’s financial landscape by introducing the country’s first-ever digital securities trading.

Osaka Digital Exchange (ODX)  launched Japan’s first-ever digital securities trading. The platform will feature security tokens issued by real estate firms Ichigo Inc. and Kenedix Inc., with the inaugural trading focusing on securities backed by property investments from Ichigo.

The post Japan’s SBI Group Plans to Issue NFTs Built on XRP Ledger for World Expo 2025 in Osaka appeared first on Cryptonews.

Yuga Labs simultaneously announced that Spencer Trucker, its chief gaming officer, would join Faraway as its new chief product officer. This move is structured to maintain continuity between the two companies and their games.

Yuga Labs’ Strategic Partnership with Faraway

Yuga Labs and Faraway have had a close partnership for a while now, with Faraway developing Serum City, a game based on the mutant Ape Yacht Club theme.

We have some exciting news to share. Our friends @Farawaygg are acquiring the HV-MTL and LoTM brands, where they’ll focus on rewarding these communities. To help manage this transition, @EverydayZukini will be joining the Faraway team as the new CPO.

More info in the thread… https://t.co/twXnFsUYG1

— Yuga Labs (@yugalabs) April 17, 2024

HV-MTL is a non-fungible token (NFT) game where players can progress at their own speed and in local environments. Legends of the Mara is an adventure game set in the metaverse. It was launched on April 30, 2022.

Yuga’s decision to hand over its gaming IP to Faraway reflects a broader move to refocus the organization’s efforts. Co-founder Gred Solana introduced the idea when he rejoined Yuga and replaced Dnaiel Allegre.

On February 22, Greg Solano announced his return to X, stating that he wanted to give the BAYC team at Yuga more focus and agility to execute their vision.

The State of BAYC NFTs Amidst Yuga Labs’ Restructuring Efforts

BAYC NFTs have been among the top NFT collections most affected by the broader market downtrend. The flagship collection and other prominent NFT projects have experienced a substantial price decline.

The bottom price of the BAYC collection is 12.34 Ether, and the current trading price of Ether is $3,009. Overall, BAYC has seen a 92% fall from its all-time high of 153.7 ETH on May 1, 2022.

On January 7, Yuga Labs caused controversy within the NFT community by announcing the acquisition of the Moonbirds collection and appointing Kevin Rose as an adviser.

The post Yuga Labs Sells IP Rights of Two NFT Games in Strategic Move – Here’s the Latest appeared first on Cryptonews.

In an online announcement, PayPal said amendments to its protection program will exclude NFTs and any payments that you initiated via a third-party platform using the PayPal Balance.

We are revising PayPal’s Seller Protection Program to exclude from eligibility Non-Fungible Tokens (NFTs) with a transaction amount of: $10,000.01 USD or above (or equivalent value in local currency as calculated at the time of the transaction); $10,000.00 USD or below (or equivalent value in local currency as calculated at the time of the transaction), unless the buyer claims it was an Unauthorized Transaction and the transaction meets all other eligibility requirements. [PayPal]

Over the years, PayPal has been exploring ways to integrate NFTs into its platform, allowing users to buy, sell, and hold NFTs directly through their PayPal accounts. This move signified PayPal’s recognition of the growing interest in NFTs and its willingness to cater to this emerging market.

On Monday, NFT sales volume was down 24% over the last 24 hours, standing at $35,628,790. While the number of sellers is down 1%, buyers and transactions are up 3% and 9%, respectively, according to CryptoSlam. Half of the top 10 collections by sales were up. Among these green coins, Bored Ape Yacht Club’s sales increased the most.

In 2021, buyers were willing to part with millions on digital collectables for NFTs offered by artists and luxury brands. It seems the chatter and hype around NFTs has faded into the background.

In January, GameStop revealed it had shut down its NFT marketplace, signalling its withdrawal from the cryptocurrency space. The announcement was made via a statement on the platform with the firm stating “the continuing regulatory uncertainty of the crypto space” as the primary reason behind this decision.

NFT Trading in Decline 

Trading of NFTs has been in decline for over a year. Data compiled by Statista shows the number of active wallets involved in NFT trading has declined.

The NFT bear market continues which can be linked to the crypto market which has been stagnant. Is it game ove for NFTs? Or will the digital collectible make a comeback?

PayPal’s Stablecoin PYUSD

In 2023 PayPal launched its native dollar-pegged Stablecoin “PYUSD” which is backed by cash and short-term treasuries. Recently the Silicon Valley-based company announced the new feature powered by its money transfer platform Xoom. The service was made available to U.S. users starting from April 4.

The post PayPal Says NFT Purchases No Longer Backed By Its Protection Program appeared first on Cryptonews.

During the 2021 cryptocurrency bull run, Bored Apes Yacht Club (BAYC) NFTs became one of the most in-demand collections, but ultimately succumbed to the decline in NFT demand that impacted the whole NFT market.

Bored Apes is a collection of 10,000 unique digital monkey cartoon figures on the Ethereum blockchain. 

Despite initial hype and celebrity endorsements, BAYC NFTs and other Ethereum-based NFT collections‘ value have declined due to waning retail interest and new collections on Bitcoin and Solana.

Each BAYC NFT was worth $400,000 in Ether in May 2022 when Ether was trading at $3,000. As of writing, the value of each Bored Ape NFT has dropped to just over $30,000.

Google search data also suggests a waning retail interest in Ethereum NFT collections, while investors are turning towards Solana and Bitcoin NFTs. 

The Rise and Fall to August 2022 Levels

In 2021, BAYC NFTs quickly gained popularity in the 2021 bullish market, with several celebrities claiming to have purchased the NFT for over $300,000 each. For instance, Justin Bieber bought a “rare” Bored Ape worth over $1.2 million.

Google reports suggest that Moonpay may have gifted the Bored Apes to some people and celebrities to raise investor confidence, however. 

Despite declining NFT prices, BAYC maintains its position as a leading NFT collection with a market capitalization of $340 million as of Tuesday.

BAYC holders are granted benefits, such as access to in-person events and a private online club. On top of this, it’s a way to show one’s wealth off online.

The post Bored Ape NFT Prices Plummet to August 2022 Levels, Down 90% From Previous High – Are NFTs Going to Zero? appeared first on Cryptonews.

NFT Market Data Today

The non-fungible token (NFT) sales volume is down 24% over the last 24 hours, now standing at $35,628,790.

While the number of sellers is down 1%, buyers and transactions are up 3% and 9%, respectively, according to CryptoSlam.

Half of the top 10 collections by sales are up today.

Among these green coins, Bored Ape Yacht Club’s sales increased the most over the past day: 227% to $954,303.

Pudgy Penguins follows it, with an increase of 110% to $864,394.

On the other hand, $PUPS BRC-20 NFTs dropped the most. Its sales fell 71% to $2.6 million.

$WZRD BRC-20 NFTs is next, with a decrease of 37% to $2.5 million.

Meanwhile, when it comes to the top five blockchains, only one has seen an increase in sales. Polygon’s sales are up 76%.

Bitcoin and Ethereum are in the first and second place, respectively.

The former is down nearly 40%, recording sales of $18.4 million over the past day. The latter fell 2% to $7.93 million.

MetaMask Partners with Daylight for NFT Airdrop Eligibility Checks

Popular non-custodial crypto wallet MetaMask announced its integration with Daylight API to allow users to find and claim airdrops and NFTs easily.

According to the blog post, they can do so on the “Explore” page in MetaMask Portfolio. There, they will find a section for “Eligible Airdrops.”

The Daylight integration enables all interested users to tap into existing and potential claimables based on their onchain identity.

They can check their eligibility across six networks: Ethereum, Optimism, Arbitrum, Base, Zora, and Polygon.

We’ve also added trending NFT mints based on your onchain activity for collections we think you’ll love. No more missing out on the hottest new drops!

Questions? Read all about the integration here: https://t.co/WFBkDYYF90

— MetaMask (@MetaMask) April 9, 2024

While it can be difficult to keep track of “all your onchain reapings and hottest NFT collection,” said the team, Web3 “helps us build an identity and social graph that we can leverage to find existing airdrops and new NFTs.”

Daylight API uses a variety of social factors to suggest unique NFT recommendations for each user, it added.

These include: the user is on the allowlist, they hold the required token or a related token, the NFT is made by a popular creator, it’s made by a creator the user has minted from before, it’s minted by someone the user follows on Farcaster, it’s completed by an influencer, it’s trending among holders of a popular NFT collection, and it’s trending onchain.

Users just need to click on each card to learn more about an NFT and mint it if they like it, MetaMask said.

Wilder World Partners with Samsung

Massive multiplayer metaverse Wilder World has partnered with the electronics giant Samsung to bring the metaverse, NFTs, blockchain, and gaming experiences to the company’s smart TVs.

Per the announcement, “the primary aim of this partnership is to ensure the global accessibility of Wilder World on Samsung TVs and other hardware.”

This is a shared goal that the partners will collaboratively pursue, they said.

https://t.co/tFbauEBY1V

— Wilder World (@WilderWorld) April 12, 2024

Meanwhile, the integration of Wilder World into the Samsung ecosystem will be a phased process.

It will start with the inclusion of Wilder World assets and information on Samsung platforms like Samsung.com/de, Gen3.samsung.com, and other upcoming Web3 platforms.

According to the Wilder World team, “by leveraging Samsung’s vast distribution network, we will bring Wilder World into the living rooms of millions, enhancing our distribution and visibility exponentially.”

Founder Frank Wilder commented that the team is creating a next-gen gaming metaverse with an emphasis on immersion and realism.

Therefore, Samsung’s global distribution will help Wilder World in its mission to make the latter “accessible to all.”

Meanwhile, Wilder World is an immersive, open-world metaverse experience. Its economy is built on Ethereum and ZERO tech, utilizing the native WILD token for transactions, governance, and rewards.

The first micro-experience will be focused around the Wheels Racing game and will be released for beta in 2024. The racing game will consist of a win-to-earn model.

To play, players must own a compatible Wilder World NFT, such as a Wheel NFT.

The team plans to enhance accessibility when they launch publicly.

The obtained and traded NFTs create an economy that replicates the tangibility of real-world ownership, said the team.

“The limited nature of NFTs allows our players to buy, sell, and trade with an active community of Wilders, fostering the growth of their Wilder World collection,” it added.

The game has recently gone live on Epic Games as an early-access game.

We’re thrilled to go live on @EpicGames!

A HUGE step forward to making Wilder World for all.

Wishlist us on the Epic Store NOW https://t.co/ohak6H9Hu7 pic.twitter.com/fw3AIdi11I

— Wilder World (@WilderWorld) March 28, 2024

Nova Frontier X Launching Spaceships Tomorrow

Nova Frontier X, a mobile game developed by The Tipsy Company, will launch its spaceship NFTs on Tuesday, April 16.

According to the website, the NFT collection consists of 9,999 spaceships with different attributes.

Claiming one means owning “a piece of the future with high potential for value appreciation,” the team claims.

Furthermore, owners can boost their earnings with elite spaceships. They can also upgrade their spaceships to explore and conquer ringworlds.

Additionally, legendary spaceships have the ability to transform into robots, “elevating your gameplay and investment value.”

The price of spaceships starts at $400 and goes up to $10,000.

Currently, however, there is a 50% early bird offer on all available ships.

3 DAYS till you can own a Nova Frontier Spaceship! Epic battles, customization, earning potential… This is your ticket to the stars. Mark April 16!

Sign up for the 50% discount: https://t.co/dgE9CRGGNk
Spaceship sale link: https://t.co/k8PlHXd1UU pic.twitter.com/d679VIWxRv

— The Tipsy Company | Nova Frontier | Gate of Abyss (@TipsyCoin) April 13, 2024

Nova Frontier X is a mobile Web3 game that invites players to “dive into a universe where technology meets opportunity” and to “claim your spaceship and embark on a journey of exploration, advancement, and financial prosperity.”

Players meet characters that include humans, aliens, and AI.

The game will launch on Google Play and Apple App stores.

Tipsy, founder and CEO of The Tipsy Company, told Decrypt that, to download the game, “you create an account with usual credentials, username, password, email address, zero wallet connection.”

Players can connect their wallets to “amplify your gaming experience.” They’ll be able to do this on the web app that the company will be launching.

However, “if you don’t want to connect your wallet, no big deal,” Tipsy said.

He added that Nova Frontier X is not a pay-to-win game, saying: “You can have the best ship out there, but you need to be able to pilot it, you need to be able to control it with micro level precision.”

Over 100,000 users have already signed up for the game’s waitlist.

The post Here’s The Latest NFT News Today appeared first on Cryptonews.

According to an announcement by Animoca Brands, the launchpad will be officially introduced this summer, aiming to support creators and projects in selling their NFTs. The company has designated early May 2024 to reveal the name of the platform.

＼今夏にNFTローンチパッドを公開！／

Animoca Brands Japanは、NFTローンチパッドを今夏に提供開始します

これに伴い、本日よりNFTローンチパッドでNFTの販売を希望するプロジェクトの募集を開始しました！
募集フォームhttps://t.co/7B9cslOjKP

プレスリリースhttps://t.co/IKMMihvbWR…

— Animoca Brands Japan (@Animocabrandskk) April 12, 2024

New NFT Platform to Connect Japan to World

The launchpad is now inviting applicants to submit their web3 projects. Once selected into the program, the platform will also provide “multifaceted support for sales strategies and marketing.”

Founded in 2021, the company’s subsidiary in Japan seeks to serve as an entrance into web3, connecting Japan with the international community by utilizing the extensive network.

Together with over 400 portfolio companies and partners, Animoca Brands could reach more than 700 million users globally.

Animoca Brands Japan facilitates the international growth of Japanese intellectual property and content creators within the web3 space. The company has recently started offering comprehensive support to foreign projects operating in the country.

The targeted content producers and holders include major publishers, brands, education, sports teams, athletes, artists, and game companies.

Animoca Brands Partners with HashKey Exchange

In January, HashKey Exchange and Animoca Brands formalized a strategic partnership to foster joint initiatives and strategic advancements in the realm of virtual assets, including public educational activities on Web3 and the potential listing of specific virtual assets on HashKey Exchange.

“As pioneers in the digital entertainment space, they’re set to elevate the Web3 ecosystem in Asia,” said HashKey in a social media post. “Stay informed about cutting-edge trends and innovations!”

The partnership aims to propel growth and innovation within the digital entertainment sector. Under the terms of the agreement, Animoca Brands would establish an account on HashKey Exchange to underscore their shared dedication to lawful virtual asset trading.

The post Animoca Brands Japan Plans NFT Launchpad for Summer 2024 appeared first on Cryptonews.

The documentary sheds light on Paul’s perspective on the project and features journalist Graham Besinger detailing the demise of the NFT project and the backlash and allegations that sprung up.

Logan Paul Admits Allegations Has “Element of Truth”

Besinger alleged in the documentary that Logan Paul’s CryptoZoo NFT was a mess that caused huge losses for people, leading to a spate of allegations and threats against the YouTuber.

Paul admitted that while the allegations had an element of truth, the NFT project was not a scam.

“Everything you just said has an element of truth to it,” he said. “Here’s the problem. What you just described isn’t a scam. I took on a project that I was simply incapable of handling at the time.”

He further disclosed that he didn’t profit from the project but suffered a loss of “half a million dollars.”

JUST IN:

YouTuber Logan Paul argues CryptoZoo ‘isn’t a scam’ in new documentary

— Whalefud.eth (@WhaleFUD) March 28, 2024

Meanwhile, the YouTuber noted that the failure of CryptoZoo led him to have suicidal thoughts.

“For the first time in my life I was having suicidal thoughts,” he stated. “I was just spiraling, Graham. Spiraling. I was crying, like sobbing … I felt weak, which is uncommon for me. I’m supposed to be the leader.”

Logan Paul first announced the CryptoZoo NFT project on his YouTube podcast in August 2021.

The project was inspired by Pokémon but was designed as a fun game where collectors could purchase eggs and breed them to produce rare NFTs.

And while the project generated a lot of excitement, it never really took off. This was after collectors had purchased the initial 10,000 collectibles (priced at 0.1 ETH at the team). The dev team found it difficult to bring the game to fruition, as they announced multiple delays as time passed.

Shortly after CryptoZoo’s collapse, Coffeezilla, a popular YouTube journalist, published a three-part docuseries to expose issues with the game, detailing the tribulations of investors who suffered financial losses.

Coffeezilla’s exposè revealed that Logan Paul employed multiple con men to work on the project, including a developer known as “Z,” who held the CryptoZoo source code hostage for $1M.

A class-action lawsuit was filed against Logan Paul in February 2023 based on the allegations that CryptoZoo was a “fraudulent venture.”

Despite the lawsuit, Paul announced a $2.3M buyback program in January 2024, pledging to purchase all NFTs at their original prices. The tokens are down 99% from their all-time high of $0.0004963 in August 2021.

Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at https://t.co/XIQzLAGKiG. Claims can be submitted through this site… pic.twitter.com/VMPDHvdXkq

— Logan Paul (@LoganPaul) January 4, 2024

Crypto Scams Continue to Soar High

While the CryptoZoo NFT fiasco has gotten some publicity, crypto scams continue to increase, right along with the growing number of traders and investors interested in digital assets.

According to BBB Scam Tracker annual data, over 67,000 scams were reported in 2023 representing huge financial losses.

The Chainalysis 2024 crypto crime trends report also showed that illicit addresses received $39.6B and $24.2B worth of cryptocurrency in 2022 and 2023, respectively.

Another report by Scam Sniffer revealed that hackers used a phishing crypto scam to drain $300M from 320K traders and investors in 2023. The web3 anti-scam solution company also reported that $46.86 million worth of crypto was stolen by scams in February 2024.

The post Logan Paul Fights Back, Says CryptoZoo Project Wasn’t A Scam appeared first on Cryptonews.

Ghozali announced the second edition of “Ghozali Everyday” on March 224th. This project uniquely blends meme coins with NFTs on the Base blockchain. The project’s presale surpassed its initial target of 400 Ether (ETH), reaching 527 ETH.

Ghozali Returns to X with Meme Coin and NFT Hybrid Project: Announces Second Iteration of ‘Ghozali Everyday’

Uploading my photo into nft lolhttps://t.co/E3Q4sBmN26#NFT #opensea pic.twitter.com/rD51rdcpzp

— Ghozali (@Ghozali_Ghozalu) January 10, 2022

In January 2022, Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, made waves in the crypto world by minting nonfungible tokens (NFTs) featuring daily selfies he took over five years. He captured nearly 1,000 self-portraits that chronicled his journey from 18 to 22.

These selfies, taken as a personal reflection on his academic journey, depicted him sitting or standing in front of his computer in various poses. This collection, named “Ghozali Everyday,” quickly gained traction within the crypto community, earning Ghozali, a student at the time, more than $1 million.

Just took the last selfie when I graduated from college and finally i can stop this doing this shit almost every day

6 years taking selfies every day is the stupidest idea I ever came up with, but luckily I can make money from it pic.twitter.com/qftRH6WRua

— Ghozali (@Ghozali_Ghozalu) August 24, 2023

Reflecting on his success, Ghozali expressed gratitude for the support and opportunity to turn a personal project into a profitable venture. He announced on X that with his graduation, he would no longer continue the daily selfie tradition, marking the end of an era that unexpectedly brought him financial success and recognition in the NFT space.

On March 22, after being absent from X for several months, Ghozali returned amidst the rising interest in meme coins. He made a significant announcement about the second iteration of his project, “Ghozali Everyday,” which now combined meme coins and NFTs in an ERC-404 format on the Base blockchain. To kick things off, he initiated an airdrop for the holders of the first Ghozali Everyday NFTs.

TuRn On NOtIfIcaTioN, Drop sOmE NeWs SoOn pic.twitter.com/7zJ7BIrA2j

— Ghozali (@Ghozali_Ghozalu) March 22, 2024

Following this, on March 24, Ghozali unveiled the launch of the second part of “Ghozali Everyday.” He disclosed the presale address with an intended cap set at 400 ETH. However, the presale quickly exceeded this limit, reaching 527 ETH, equivalent to around $1.8 million at the time of writing.

launching the second part of Ghozali Everyday: a memecoin and nft hybrid on Base 🛜

PRESALE is open, send eth to 0x4553555f6a451EC415f698A524B5e02E38acFB6C (eth mainnet/base only)

min 0.05 ETH
max 2 ETH
cap 400 ETH
100% of ETH raised goes to LP 🛜

Ghozali 404 … pic.twitter.com/HYAfHkh1z3

— Ghozali (@Ghozali_Ghozalu) March 24, 2024

Despite the overwhelming response, Ghozali took to X to announce that he would refund those who sent more than 2 ETH after the cap was reached. He also clarified that the cap would not increase, ensuring fairness and transparency in the project’s execution.

Solana’s Meme Coin Craze: Traders Flock Amid Bitcoin’s Bullish Surge

Amidst the recent bullish run of Bitcoin (BTC) prices, there has been a resurgence of interest in meme coins, mainly driven by traders on the Solana blockchain. Notably, data indicates that presale projects on Solana raised an astounding $100 million within just three days, from March 15 to 18.

This surge in funding reflects a trend where meme coin founders are leveraging token presales to raise significant amounts for unreleased coins. The presale mechanism typically involves investors sending cryptocurrency to a specified wallet address in exchange for the distribution of tokens once the coin is officially launched. Nevertheless, there’s no guarantee of receiving tokens in return, making presales susceptible to fraud and scams.

The recent frenzy surrounding meme coin presales peaked with the launch of Book of Meme on March 14. Created by the pseudonymous artist Darkfarms1, the coin initially held a valuation of approximately $4 million but skyrocketed by an astonishing 36,000% within just 56 hours, reaching a peak market capitalization of $1.45 billion.

While the profitability of meme coins has captivated the crypto space, concerns about the presale model and its associated risks surfaced.

The post Indonesian College Student Behind NFT Selfies Success Returns with $1.8 Million Meme Coin Presale appeared first on Cryptonews.

On Wednesday, an anonymous collector purchased CryptoPunks #7804 for 4,850 ETH, or $16.38 million.

This marks the second-largest CryptoPunks sale, both in terms of ETH and USD value, according to CryptoSlam data. The first most expensive CryptoPunks #5822 NFT sale took place in February 2022, valued at 8,000 ETH worth $23.7 million.

Additionally, the recent sale surpassed Punk NFT #3100, which was sold early this month set at a value of 4,500 ETH or $16 million.

Punk 7804 bought for 4,850 ETH ($16,421,614.53 USD) by 0x9bc2d5 from 0xf4b4a5. https://t.co/PhIbbqdu5B #cryptopunks #ethereum pic.twitter.com/n7QsO74UtY

— CryptoPunks Bot (@cryptopunksbot) March 20, 2024

The seller of CryptoPunks #7804 wrote on X (Twitter) that he bought the NFT in 2021 for 4,200 ETH, equivalent to $7.57 million at that time. The person has been searching for a potential buyer for over an year.

Under the pseudonym Peruggia, the seller wrote on X that the sale marks “End of an era”.

“I’ve long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.”

End of an era. I've long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.

After over a year of looking around I feel I've found the right buyer with the right vision to appropriately elevate this asset https://t.co/onngtTumrJ

— Peruggia (@peruggia_v) March 20, 2024

Cryptopunks was launched in June 2017 by the Larva Labs studio. The most expensive NFT sale is affiliated to Beeple’s digital artwork collage titled “Everydays: The First 5000 Days,” auctioned for a staggering $69.3 million in March 2021 by Christie’s.

Is the NFT Hype Back?

NFT environment has been bleak for the past few years, however, the sale of the CryptoPunk #7804 NFT marks the beginning of an NFT revival.

Per data from Statista, NFT sales volumes in 2023 were well below 2022 and 2021 numbers. However, it noted that revenue in the NFT market is projected to reach US$2,378 million in 2024.

“In the NFT market, the number of users is expected to amount to 16.35m users by 2028,” the data noted.

Though the market has been volatile, this recent sale could inspire investors to take another look at the NFT market. Further, it could also inspire creators to begin pumping out new projects, which eventually would make a resurgence overall.

The post CryptoPunks Recent NFT sale Breaks Record, Sold for 4,850 ETH or $16.4M appeared first on Cryptonews.

Spritmuseum’s MetaBirkins NFT Display Would Cause “Deep Concerns,” Judge Says

Rothschild (also known as Sonny Estival) was found liable for trademark infringement last month after French fashion house Hermès sued him over the MetaBirkins NFT project. 

Rothschild claimed the project, which depicted the designer company’s iconic Birkin bag on NFTs, was well within his rights to make. 

Last June, Hermès was granted a permanent injunction against the digital artist, effectively banning him from using the company’s trademark within his work.

MetaBirkins: Collection One

Now available on @rarible https://t.co/G2GNpF431k pic.twitter.com/GR3xiDPgyZ

— MetaBirkins (@MetaBirkins) January 1, 2022

In January, Rothschild sought to find out if he could still display MetaBirkins at the Swedish Spritmuseum given the scope of the injunction. 

According to ArtNet News, Spirtmuseum had contacted Rothschild in late 2023 to discuss exhibiting the MetaBirkins NFT on a screen inside the museum. Both Spritmuseum curator Mia Sundberg and art critic Blake Gopnik were called to testify.

According to the March 13 court filing, U.S. Southern District of New York Judge Jed S. Rakoff denied Rothschild’s request, citing “deep concerns” about trademark issues the exhibition might create.

Violation of Trademark Rights or Groundless Claims?

The case has opened up an interesting dialogue regarding legal rights within the Web3 space, with key players in the crypto industry like the Chamber of Digital going so far as to file an amicus curiae brief in support of Hermès prior to the litigation’s verdict in early February.

“The fact that a company offers its goods in a digital space should not result in those products or that company receiving any less trademark protection than physical goods sold in the real world,” the Chamber of Digital Commerce stated, claiming the case could “set a precedent for the entire digital economy.”

A statement in response to: Hermès International, et al. v. Mason Rothschild. pic.twitter.com/pil6brfGTl

— MetaBirkins (@MetaBirkins) January 17, 2022

Following news of the lawsuit in January 2022, Rothschild took to X to defend the MetaBirkins NFT, calling Hermès’ allegations “groundless.”

“I am not creating or selling fake Birkin bags,” Rothschild said in a statement. “I’ve made artworks that depict imaginary, fur-covered Birkin bags.”

Rothschild Ordered to Pay Substantial Fees in Damages

In addition to trademark infringement, Rothschild was found guilty of trademark dilution and cybersquatting, the practice of registering domain names extremely similar to established entities and trademarks.

Rothschild has been ordered to pay $133,000 in damages as well as $23,000 from cybersquatting.

Cryptonews reached out to the Spritmuseum for comment but didn’t receive a response prior to publication.

The post MetaBirkins NFT Creator Barred from Museum Display After Hermès Lawsuit appeared first on Cryptonews.

According to the press release,through the standard, Ethereum has backed CARV’s plan for data self-sovereignty.

CARV stated that this is “a major step in bridging disparate digital identities and enabling users to own their online history, relationships, and experiences across platforms.”

“It’s been an exciting journey to get to this point,” CARV Co-Founder Victor Yu told Cryptonews.

ERC-7231 was initiated by CARV with a proposal submission in June 2023.

Following drafts and revisions, the Ethereum Foundation “greenlit” the proposal with a last call and final acceptance at the start of February.

Moreover, ERC-7231 is publicly available.

Yu stated that the team looks forward to the ecosystem adopting it and bringing users in on the value generation of their information.

Merging Multiple Identities Into One

The announcement explained that ERC-7231 binds multiple Web2 and Web3 identities to one NFT. It also achieves encrypted aggregation of multi-domain identity data.

Per CARV,

“The result is an “identity of identities” that enables self-authentication, social overlapping, and commercial value generation from targeted user data.”

Yu commented that “this solution breaks down identity silos and rewrites the rules of data ownership.”

The new standard, he said, enables a “new era of data-to-earn” in and beyond blockchain gaming. “Data self-sovereignty is now a reality across Ethereum and the sky’s the limit,” said Yu.

The standard offers three benefits:

• the protocol’s integration with account abstraction wallets makes Web2 and Web3 onboarding – hence, adoption – easier;
• uniting multiple identities into one enables greater interoperability between different platforms and services;
• users have control over their data to decide how it’s used.

Users can opt to share certain on-chain and off-chain identity information and then passively earn whenever brands leverage it.

CARV's not loud, but our impact is clear

ERC-7231 is now an official standard, bringing every piece of your online self together, safely in your hands. Own your data, protect your privacy.

Join us in this silent revolution
Learn more: https://t.co/4lrWGscXw7#CARV…

— CARV (@carv_official) February 22, 2024

Moreover, CARV ID is integrated with the standard.

Per the announcement, more than 800,000 users are playing games and earning rewards across CARV’s solution, which includes numerous layers, from foundational data stack to its gaming-focused application layer.

That said, ERC-7231 is “the key to stringing everything together,” it stated.

Seeing High Numbers

CARV has already seen great integration and use of the standard, said Yu for Cryptonews.

CARV ID, which follows ERC-7231, is adopted by more than 900,000 users globally across Southeast Asia, Japan, CIS, US, UK, and Latin America.

Daily active numbers are close to 500,000 across games and ecosystems.

Before this standard, Yu argued, understanding gamers has been difficult for games.

Users increasingly opt out of app tracking (IDFA), and shifting privacy regulations (CCPA) make data collection difficult.

With ERC7231, users can not only aggregate, own, and control their reputation, identities, and behavior across Web2 and Web3, but this quality zero- and first-party data can support games and artificial intelligence (AI) companies to create customized experiences.

As for future plans, CARV aims to work with more Web2 and Web3 studios. The team wants to enable users to move across platforms interoperably.

On the tech side, “we welcome all user identity solutions to adopt ERC-7231 and usher in a new age of identity-aggregated NFTs,” said Yu.

ERC-7231 and ERC-404: Key Differences

ERC-404, launched shortly before ERC-7231, made quite an entrance in early February. It quickly became popular.

The ERC-404-based collection Pandora, though no longer in the first place, still ranks among the top 10 NFT collections per sales volume, per CryptoSlam.

Per GitHub, ERC-404 is an experimental, mixed ERC20 / ERC721 implementation with native liquidity and fractionalization. This means that it combines the ERC-20 (token standard) and ERC-720 (NFT standard).

Which ecosystem should we bring 404s to next?

— Pandora (@Pandora_ERC404) March 16, 2024

Then in the second half of February, CARV launched ERC-7231.

“First and most importantly, ERC-404 is an experimental standard yet to be formally proposed for inclusion in Ethereum Improvement Proposals (EIPs),” Yu told Cryptonews. ERC-7231, on the other hand, is a fully finalized and approved ERC standard.

However, per Yu,

“It must be said that 7231 and 404 both move the needle toward democratizing asset ownership and the share of value creation – this is a good thing. However, each standard works in a different way.”

ERC-404 is a semi-fungible token that allows multiple wallets to own an NFT. But ERC-7231 binds multiple Web2 and Web3 identities to a single NFT holder.

Via this holder NFT, users can standardize their identities, modify the NFT based on behavior (data aggregation), and share in value generation from user targeting whenever brands leverage it on-chain and off-chain.

“The result is an “identity of identities” that achieves encrypted aggregation of multi-domain identity data, offering something for both games and gamers. A data win-win,” said Yu.

CARV is starting with gaming but there are many ways this technology can be used.

“Imagine AI-based healthcare solutions making earth-shattering breakthroughs with the help of access to clean and encrypted data from users, and then rewarding these users with the monetary value such breakthroughs are creating, enabled by smart contracts,” Yu concluded.

Notably, in mid-February, a different team of developers announced the launch of the ‘Divisible NFT’ standard (DN404), calling it “a hybrid ERC20/721 token.

This team’s approach was to have two contracts: a “base” ERC-20 with a “mirror” ERC-721. You can read more about it here.

Ethereum's Dencun upgrade @ethereum, it's a big step towards a more open and free economy.
At CARV, we are proud to align with this vision. Our significant achievement? The final approval of CARV's ERC-7231 identity-aggregated NFT standard! Together, we're building a more… pic.twitter.com/3nZjn52U31

— CARV (@carv_official) March 13, 2024

The post New ERC-7231 NFT Standard Enters The Space appeared first on Cryptonews.

The program, known as the “Odyssey Beta program,” will officially conclude on March 31, according to a recent statement. 

The initiative allowed customers to participate in coffee-themed games and challenges, earning digital collectible stamps in the form of non-fungible tokens (NFTs) that could be used to access exclusive benefits and interactive experiences.

Alongside the closure of the marketplace where users traded their digital stamps, Starbucks’ community discord server will also be shut down. 

However, the company announced that the Odyssey marketplace will transition to the Nifty marketplace, enabling users to continue buying, selling, and transferring their Odyssey stamps on the new platform.

Starbucks Terminates NFT Program to Perpare for New Ventures

The reasons behind Starbucks’ decision to terminate the program remain undisclosed.

Nevertheless, the company stated the need to “prepare for what comes next as we continue to evolve the program.”

Starbucks first launched the Odyssey program in September 2022, a challenging period for the cryptocurrency industry. 

It was introduced following significant collapses within the Terra-Luna ecosystem, Celsius, and the impending collapse of major crypto exchange FTX. 

When creating the program, Starbucks opted for the Polygon network due to its lower energy consumption compared to proof-of-work blockchains.

The move by Starbucks follows a trend of companies discontinuing their involvement in the NFT space. 

In January, gaming retailer GameStop announced the closure of its NFT marketplace after scaling back its crypto services over the past two years. 

Similarly, tech giant Meta (formerly Facebook) terminated its NFT features across its social media platforms, Facebook and Instagram, just 10 months after their initial integration.

More recently, X (formerly Twitter), under the ownership of Elon Musk, discontinued a feature that allowed premium users to use NFT images as their profile pictures.

What Does the Future Hold for NFTs?

Looking ahead, industry experts have varying predictions for the future of the NFT market in 2024. 

Vineet Budki, CEO of Web3 venture firm Cypher Capital, anticipates that NFTs will mature into valuable tools with real-world applications. 

Meanwhile, Oh Thongsrinoon, chief marketing officer of Altava Group, which connects luxury fashion brands with Web3, believes that NFTs will extend beyond being mere profile pictures (PFPs). 

Thongsrinoon envisions the implementation of NFTs in industries such as precious metals and real estate throughout the year.

It is worth noting that the market for NFTs has been on an upward movement recently amid the recovery in crypto prices.

In October, NFT trading volume surged by $99 million, reaching $405 million, signifying levels of sales not seen since August.

Likewise, sales of NFTs on the Bitcoin (BTC) network reached a new milestone in December 2023, surpassing $881 million for the first time ever. 

This included 111,713 buyer addresses and 98,744 seller addresses, both setting the highest single-month records to date.

The post Starbucks Ends NFT Rewards Program, Paving the Way for New Ventures appeared first on Cryptonews.

Yuga Labs claims Ripps’ actions were made in “bad faith” and that he misled the court. They are requesting the court punish Ripps for these actions.

Request for Sanctions Against Artist Ryder Ripps in Ongoing Legal Battle

In a filing last week in a California District Court, Yuga Labs requested sanctions against Ripps for his alleged actions. The company stated that Ripps’s deliberate destruction of private keys was an attempt to thwart the court’s injunction.

In April 2023, a judge ruled in favor of Yuga Labs in its claim against Ripps and Cahen for violating copyright laws by creating unauthorized versions of BAYC nonfungible tokens (NFTs). This came after the pair played on the words of the well-known BAYC brand, launching the Ryder Ripps BAYC (RR/BAYC) collection in May 2022.

As a result, Ripps and Cahen were ordered to pay a total of $1.57 million in damages to Yuga Labs, along with covering legal fees, supposedly bringing the lawsuit to an end. The Court’s findings of fact and conclusions of law on October 25, 2023, confirmed that the injunction would be enforced due to the irreparable harm caused by the infringing conduct—the injunction aimed to allow Yuga Labs to regain control over its brand and reputation.

On February 3, 2024, the Court issued a final judgment in favor of Yuga Labs, mandating that defendants destroy or transfer their RR/BAYC NFTs within two weeks. However, on February 21, 2024, Mr. Ripps, through counsel, disclosed for the first time that he had allegedly destroyed the private keys for wallets containing RR/BAYC NFTs back on December 9, 2023.

Yuga Labs argues that Ripps acted in bad faith by destroying his private keys, providing misleading information, and continuing to misrepresent facts to both Yuga Labs and the Court. As a result, Yuga Labs is urging the Court to hold Ripps in contempt for his actions.

However, in response to Yuga Labs’ request for sanctions, Ripps and his partner, Jeremy Cahen, have filed a request for the Court to reject the sanctions. They claim that Ripps complied fully with the October injunction, except for orders tied to wallets he lost access to. They also highlight that Ripps’ counsel had reached out to Yuga Labs’ counsel, contrary to Yuga Labs’ claims.

Yuga Labs Raises Concerns Over Ryder Ripps’ Compliance Efforts in NFT Lawsuit

Critics argue that Ripps’ actions frustrate the effectiveness of the Court’s judgment, as Ripps retains potential access to the NFTs through various means, including backups or recovery options. Furthermore, it was disclosed that Mr. Ripps had yet to fully disclose all wallets containing RR/BAYC NFTs, raising questions about the sincerity of his compliance efforts.

The lawsuit added that Ripps and his co-defendant have failed to fulfill other obligations outlined in the Court’s judgment, including the payment of attorneys’ fees and reimbursement for fees paid to a Special Master.

Furthermore, Yuga Labs alleges that Ripps disclosed only on February 21 that he had destroyed the private keys for the wallets containing the NFTs in December of the previous year. Ripps claimed this action was to prevent accidental engagement with the wallets, which could be seen as a violation of the court injunction. However, Yuga Labs argues that Ripps’ actions further harm their case and frustrate the purpose of the Court’s injunction.

Yuga Labs also questions the validity of Ripps’ explanation, suggesting that he may still be able to recover access to his NFTs if he has physical or digital backups of his private keys. Additionally, they claim that Ripps continued to use wallets tied to RR/BAYC after the initial court injunction.

The legal battle between them continues. Both parties are presenting their arguments before the Court as they seek resolution in the ongoing dispute over intellectual property rights related to NFTs.

The post Yuga Labs Accuses Ryder Ripps of Destroying NFT Keys to Evade Court Order appeared first on Cryptonews.

The announcement from Tensor comes at a time when its protocols have traded over $2 billion worth of Solana NFTs. “In the last 90 days they facilitated over 70% of Solana’s NFT trading volume,” Tensor wrote on X (Twitter).

To date, Tensor protocols have traded over $2bn worth of Solana NFTs. In the last 90 days they facilitated over 70% of Solana’s NFT trading volume (wash trading removed).https://t.co/m9LLxLweWA pic.twitter.com/DhqzBnaGTc

— Tensor Foundation (@TensorFdn) March 12, 2024

Tensor Foundation revealed the launch of its TNSR token, however, it did not provide more details on the launch.

“TNSR will govern Tensor protocols that have already traded over $2bn worth of NFTs on the fastest, most scalable blockchain – Solana.”

Introducing $TNSR – the future of NFT trading.$TNSR will govern Tensor protocols that have already traded over $2bn worth of NFTs on the fastest, most scalable blockchain – Solana. pic.twitter.com/eff2IxGOwr

— Tensor Foundation (@TensorFdn) March 12, 2024

The organization further noted that, “NFTs today are a niche community on the fringes of the web.” It also predicted that NFT traders will go from thousands to billions, as these asset class will power products, businesses and entire industries in the coming months.

“Shortly, Tensor protocols will be adopted by the Tensor Foundation and governed by Tensor community using $TNSR,” another post read.

Tensor NFT marketplace debuted in late 2022 and ever since, has seen significant price increases. In April 2023, the trading volume of Tensor in the Solana ecological NFT market surpassed that of Magic Eden.

Tensor did not state whether there would be an airdrop of the token. However, in May 2023, the platform hinted an upcoming massive airdrop for Solana NFT traders after completing its first season.

Tensor Foundation also noted that TNSR will play a pivotal role in incentivizing the ecosystem of creators and NFT builders.

Solana’s Booming NFT Sales

NFT sales on Solana blockchain has experienced a surge in the recent past, even surpassing Bitcoin and Ethereum.

In December 2023, SOL NFT projects, particularly Mad Lads and Tensorians saw significant price increases. The collective trading volume of the non-fungible tokens on SOL surpassed that of Ethereum, representing growth of 92%.

Early this year between Jan. 18 to Jan. 25, NFT sales on Solana blockchain exceeded $62 million, nearly 17% compared to Bitcoin’s volume.

The post Solana-Based NFT Marketplace Tensor to Launch TNSR Governance Token appeared first on Cryptonews.

According to Christie’s website, the works are “a form of digital graffiti” that recasts “the tradition of color field paintings” made popular by abstract painters in the mid-nineteenth “as a celebration of the RGB color spectrum that characterizes digital art.”

Christie’s and Alice Make History With New Collection

“Referencing the importance of blockchains as a new form of publishing, and the idea of NFTs as fundamentally made out of text, the works poetically distill the pre-history of NFTs into large contemporary digital color fields paintings,” Christie’s stated. “Each artwork, made entirely out of text, is a collision of two of these source texts, violently collided together using NLP algorithms to create new histories.”

Starting at a price of 5 ETH, the cost of each NFT piece will diminish “until all 400 works are either sold out or the price lands at its resting price of 0.3 ETH.”

TODAY! The auction for SOURCE [On NFTs], @robertalice_21 begins at 11am EST

Dutch Auction: 11am – 1pm EST
Starting price: 5 ETH, decreasing 0.175 ETH every 3 minutes until 1.5 ETH, then slowing to increments of 0.06 ETH

Mint here: https://t.co/F7zrPFxnEM

— Christie's (@ChristiesInc) March 12, 2024

“The source material was intentionally selected by the artist to reveal the cultural ecology of the origin of NFTs,” Christie’s continued. “Disparate histories entwine to create new meaning, as works of science fiction collide with seminal digital art history manifestos while cryptography whitepapers collide with 7th-century Chinese philosophical texts.”

A Book For NFT and Art Enthusiasts Alike

Alice has a storied legacy of art within the crypto space himself, having originally been the first artist to sell an NFT through Christie’s in October 2020.

The on-chain generative art auction coincides with the release of On NFTs, a physical book edited by Alice featuring 10 academic essays and illustrated profiles of 101 artists working with NFTs.

Published by luxury art book publisher Taschen, On NFTs offers “a deep dive into the sphere of non-fungible tokens” by encompassing everything from “algorithmic art to avatars.”

“This book is one of the first major survey publications on blockchain-based art and the wider on-chain cultural ecosystem,” Alice said.

Works minted for 1.5 Eth or higher at Christie’s will receive a special edition of On NFTs hand-signed by Alice.

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