Tag Archives: Non-Fungible Token (NFT)

The investment firm Tiger Global has reportedly reduced the valuation of its holdings in Bored Ape Yacht Club and OpenSea. Per a Bloomberg report, the company marked down the value of its investment in Bored Ape Yacht Club (BAYC) by 69% and its stake in the NFT marketplace OpenSea by 94%. The move follows Tiger Global’s decision to write down its $38 million investment in FTX to zero. Tiger Global Investors Experience Losses The Tiger Global’s Private Investment Partners 15...

In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses. Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users alone outnumbered NFT and layer 2 scaling users by more than twice, solidifying the sector’s central role...

Vitalik Buterin, the co-founder of the second-largest blockchain, Ethereum, had his X account hacked to portray a phishing site that reportedly drained over $800,000. The fraudulent post has been deleted since, and the account has been restored. The blockchain security resource PeckShield was among the first to alert about the ongoing hack later last night, showcasing the suspicious post coming from Buterin’s account. It read that Consensys has decided to distribute...

Portuguese soccer legend Cristiano Ronaldo has taken a lie detector test for the world’s largest crypto exchange, Binance, an activity he called one of his hardest challenges. The lie detector test stirred mixed reactions and speculation from the crypto community regarding Binance’s aim for subjecting the soccer megastar to such activity. Ronaldo’s Partnership With Binance Ronaldo’s lie detector challenge comes barely two months after he launched his second non-fungible token...

Data analyzed by the on-chain analytics platform Nansen shows that blue-chip non-fungible tokens (NFTs) are struggling, and their floor prices have plunged significantly. According to the firm, the floor prices of most blue-chip NFTs crashed by more than 25% in the last 30 days. At the same time, the prices of a few collections recorded significant growth. Blue-Chip NFTs are Struggling Blue-chip NFTs are collectibles expected to have sustainable long-term value because of...

Following an appearance by former President Donald Trump on Tucker Carlson’s X-based interview show, the value of Trump’s baseball card-style NFT collection saw a notable surge. According to reports, the 45,000-card polygon-based Trump Digital Trading Cards’ price increased from 0.1 ether ($150) last week to approximately 0.13 ether ($215) after the viral interview. Trump: “When I debated Biden, this was in front of probably not a friend of yours, Chris Wallace was the...

Nathaniel Chastain – former head of product at the NFT marketplace OpenSea – will spend three months in jail after being found guilty of insider trading. Prosecutors maintained that he bought numerous non-fungible tokens before they were featured on the platform’s home page and later sold them at much higher prices.  Chastain maintained he was not guilty of the accusations that he conducted wire fraud since the NFTs were not securities or commodities. US District Judge Jesse...

In recent years, the non-fungible token (NFT) space has expanded into a billion-dollar industry, with Ethereum traditionally leading the way as the dominant ecosystem. Cardano, on the other hand, faced criticism from numerous quarters, being labeled a “ghost chain” due to its absence of a DeFi and NFT economy. However, the NFT landscape is undergoing a shift. According to the weekly chart shared by Stocktwits NFTs, the Cardano NFT floor price index sits 22% above that of...

RECUR, a non-fungible token (NFT) company that raised $50 million in an investment round nearly two years ago, has become the latest victim of the current bear market. Over the weekend, the NFT platform announced that it plans to gradually shut down its operations starting this month, with a full business closure slated for November. RECUR Calls It Quit At the time of the announcement, RECUR said it had halted primary and secondary sales on August 18. However, the firm will...

Bitcoin Ordinals stirred up a frenzy in the community soon after its launch in January 2023. More than eight months later, ordinal inscriptions have maintained their prominence in the Bitcoin network’s activities over the past week. Despite a sharp drop in sales volume, Bitcoin Ordinals remains very much active. Ordinals Account for 85% of Activity on Bitcoin Much like NFTs, ordinal inscriptions are digital assets engraved on satoshis, which are the smallest units of Bitcoin....