Tag Archives: Non-Fungible Token (NFT)

Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs.  Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected. The Sad State of NFTs According to DappRadar’s statistics page, the daily trading volume of...

The extensive report published recently by crypto auditing firm Elliptic shows the methods used by cybercriminals to misappropriate and profit from the immense hype generated by NFTs, extolled for the benefit of wary consumers. Between phishing, scam projects, stolen and plagiarized NFTs, market manipulation, and rugpulls, the total value of financial crime connected to NFT trading adds up to over $100 million, with an average of $300k for every instance of monkey business....

Two of the iconic American rappers – Eminem and Snoop Dogg – will perform their mutual single “From D 2 the LBC” live on the MTV-sponsored Video Music Awards (VMAs) this Sunday. Bored Ape Yacht Club (BAYC) holders will be allowed to watch this event live at the “Otherside” Metaverse. The song includes the artists’ personal non-fungible tokens, who spent hundreds of thousands of dollars to acquire them. The Duo’s Song Goes Live on Air The renowned musicians have not always...

The leading athletic apparel company – Nike – has surpassed many prominent names with its NFT sales this year. According to the latest stats, Dolce & Gabbana, Tiffany, Gucci, and Adidas are reaping millions from NFTs, but it’s Nike that tops the chart. Dune Analytics researcher Noah Levine’s data showed the above businesses leading the NFT wave. Nike’s NFT-related projects have generated over $185 million in revenue, placing itself as the biggest earning brand. The iconic...

SudoRare – a decentralized non-fungible token (NFT) marketplace – is reportedly the latest crypto project that had rug-pulled its customers. The project, established earlier today, shut down its operations six hours after launch after it was rug-pulled for 519 ETH (around $850,000 going by current prices). The blockchain security company – PeckShield – indicated that the wrongdoers behind the protocol have already sent the drained funds to three different wallets, each...

Ripple’s latest Value Report estimated that 76% of financial institutions plan to use cryptocurrencies in their operations in the next 36 months. The majority of those entities, though, said they will delve into the industry, assuming there is an appropriate regulatory framework applied to it. The study also revealed that 20% of global consumers would only buy sustainable cryptocurrencies. However, the company pointed out that many people are not aware which digital assets...

CryptoPunks is arguably one of the most iconic collections of NFTs – the one that ignited the niche’s bull market in 2021 and throughout the first few months of 2022. It appears that users are showing renewed interest in the non-fungible tokens as data reveals a soaring trading volume over the past 24 hours. Data from popular DApp resource DappRadar reveals that the interest in the CryptoPunks NFT collection is soaring over the past couple of days. The total trading volume...

American video game retailer GameStop announced the launch of its digital asset wallet. Following the development, shares of GameStop (GME) rose by more than 2% premarket on Monday to $98.02. It was currently trading at $95.66. GameStop Wallet GameStop’s new self-custodial Ethereum wallet will allow users to store, send, receive and use cryptocurrencies and non-fungible tokens (NFTs) across decentralized apps without having to leave their web browsers, the company said. It is...

DeFi Land, a multi-chain agriculture simulation gaming project built on the Solana blockchain, has unveiled its first play-to-earn game created to gamify all aspects of decentralized finance (DeFi). DeFi Land Launches New P2E Game As per the press release shared with CryptoPotato, the game, scheduled to go live on May 18th at 8 PM UTC, will allow players to fish, shoot, farm, drive harvesters, carter for pets and do lots more. In return, players will earn DFL and GOLDY, the...

The blockchain security service provider – Fireblocks – introduced a new Web3 Engine that will aid developers’ efforts to build NFT, DeFi, and GameFi products and services. Additionally, the platform enabled access to exchanges, decentralized applications, and non-fungible token marketplaces for capital market participants and alternative asset managers. The New Fireblock Web3 Engine According to a recent announcement, the platform’s new Web3 Engine will allow developers and...