Tag Archives: Non-Fungible Token (NFT)

Cardano’s network is reportedly attracting considerable interest, at least according to the Marketing and Communications Director of IOHK: Input Output. Back in September 2021, Cardano went through one of the most important mainnet upgrades called Alonzo. It was part of the development cycle of Cardano known as the Goguen era and the most important part of it was the integration of smart contracts. Since then, the network went through other important upgrades and saw...

Singapore’s income tax treatment will be determined based on the nature and use of the NFT. Taxing NFTs According to the latest report by The Business Times, Singapore Finance Minister Lawrence Wong while addressing the parliament revealed that the prevailing income tax rules will apply to the income derived from non-fungible token (NFT) transactions or trading in it. Due to the absence of a capital tax regime in Singapore, individuals deriving capital gains from the NFT...

Non-fungible tokens (NFTs) became particularly popular in 2021, and the trend continues, albeit a bit slower, in 2022. Users flock to create, sell, and collect various NFTs for many reasons. Some of them like the art, others are trying to speculate on their value, third are used as a part of a blockchain-based game, and so forth. Whatever the reason might be – it appears that NFTs are here to stay. Naturally, Ethereum emerged as the dominant network for their creation, and...

The Bored Ape Yacht Club hinted at another initiative earlier today without providing any specifics and once again sparked the curiosity of many. However, upon following the provided link, users were met with a KYC prompt, and many were less than happy. Earlier today, the official Twitter account of the Bored Ape Yacht Club posted a link carrying the domain somethingisbrewing.  The team further explained that it’s something they’ve been working with Animoca Brands. This has...

Remember Ether Rocks – the plain rock jpegs that became incredibly valuable NFTs last year? A lucky owner recently tried to cash in on one of those collectibles – but accidentally sold it for under a cent. Twitter user @dino_dealer (aka Rock Dust) once held EtherRock #44, and planned to sell it for 444 ETH. At today’s price, that’s over $1 million. The idea wasn’t crazy: multiple other ‘worthless’ images within the same collection sold for well over $500,000 last August....

The popular cryptocurrency exchange – CryptoCom – announced the airdrop of its non-fungible token collection in collaboration with the LA Lakers’ star LeBron James. It is called “The Moment of Truth” and will be airdropped to 5,550 randomly selected viewers who scanned a hidden QR code. LeBron James NFTs to The Lucky Winners One of the top sports events in the USA – the Super Bowl – is among the most viewed matches of the year. It usually attracts numerous companies, which...

FTX Europe – the European subsidiary of the US crypto exchange FTX – collaborated with the music festival Tomorrowland. As part of the agreement, the trading venue will help its partner bring its “truly unique and magical events to the digital space by supporting their Web3, NFT, and crypto-related initiatives.” ‘People of Tomorrow’ to Jump in The World of Crypto The European affiliate of FTX – FTX Europe – joined forces with arguably the world’s largest dance music festival...

LimeWire was one of the many P2P filesharing companies that had earlier pushed illegal downloading of music onto the masses before shutting its operations in 2011 following lengthy court battles. But the now-defunct site is set to make a comeback this year as a music-focused NFT marketplace. LimeWire’s Comeback The new owners of the defunct LimeWire have revealed that it will be relaunched as an NFT marketplace. The focus will initially be on music and related collectibles....

Immutable X – a layer 2 NFT trading platform built on Ethereum – announced the closing of a $200 million Series C funding round on Monday. Led by Singaporean investment company Temasek, the round brings Immutable’s valuation up to $2.5 billion. Expanding the Team 5 other new investors also partook in the round, including Princeville Capital, Arrington Capital, ParaFi Capital, Mirae Asset, and Liberty Global. Meanwhile, existing investors such as Prosus Ventures, AirTree...

Last year, Facebook rebranded its company name to Meta in a bid to pioneer the metaverse field, and ever since, this word has spread around like wildfire. Non-fungible tokens (NFTs), on the other hand, were undoubtedly the hottest topic of 2021, and this trend seemingly carried through in 2022 as well. Now, however, it appears that retail interest in both is fading. Google Trends Data Alarming Data from Google Trends is usually a good way to gauge the retail interest in...