Tag Archives: Non-Fungible Token (NFT)

Investors’ appetite for trading non-fungible tokens (NFTs) seems to have significantly decreased after the all-time highs recorded in August. In fact, during the last three days, Ethereum-based NFT trading volumes have not surpassed $100 million, while at the end of August, they exceeded $500 million for a single day. NFT Trading Volumes Heading South According to a recent analysis by Alex Thorn – Head of Firmwide Research at Galaxy Digital – non-fungible tokens’ daily...

Immutable X, an Ethereum-based layer 2 scaling solution for non-fungible tokens (NFTs), said it recently raised $60 million in a Series B round of funding, which was co-led by BITKRAFT Ventures and King River Capital. According to a press release shared with CryptoPotato today, Immutable also received investments from a host of crypto-related and venture capital firms. These include Alameda Research, Galaxy Interactive, Apex Capital, VaynerFund, Fabric Ventures, Reinventure,...

Almost all of the Bored Yacht Ape NFT collection – a popular collection of cartoon drawings featuring over 107 monkeys – has now sold for more than 24 million dollars. The 24 Million Dollar Monkey-Deal According to a recent tweet from Sotheby’s, the art merchant hosting the meme-inspiring NFT collection, 101 of 107 Bored Yacht Club NFTs have now sold for roughly $24.4 million. Similarly, 101 Bored Ape Kennel Club NFTs sold for another $1.8 million in their “Ape in!” auction....

Nick Johnson, the lead developer of the Ethereum Name Server (ENS), recently unveiled a bug on the NFT marketplace OpenSea, which caused him and other traders to lose about $100 000 in NFTs to burn addresses. The bug has been patched since, but the damage is irreversible. What Happened? Johnson explained the bug in a Twitter thread yesterday, where he announced that he’d “accidentally burned the first ENS name ever registered.” It began with him attempting to transfer the...

The NFT season continues to boom, and it shows little signs of slowing down, despite the talks of an NFT bubble. The most recent example of it is the ‘TEST’ NFT created by the CEO of FTX – Sam Bankman-Fried. ‘TEST’ NFT Sells for a Whopping $270K As CryptoPotato reported yesterday, FTX allowed users to mint custom non-fungible tokens (NFTs) on their exchange. Fun fact: once they did so, users flooded the platform with drawings of fish. In fact, the images were so many that SBF...

Opening up to the growing artistic marketplace, FTX recently announced the ability to mint custom NFTs directly on their exchange. However, they were quickly forced to place a pricey paywall behind the feature in response to a wave of spam images. NFTs on FTX Exchange The new feature was announced by FTX CEO Sam Bankman Fried (aka SBF) on Twitter earlier today. His tweet linked to a simple test NFT that he posted on the exchange as a sample. The image– merely a white...

The NFT market continues to rage, and it shows no signs of slowing down. At the time of this writing, Sotheby’s is hosting a dedicated online sale of NFTs of Bored Ape Yacht Club (BAYC,) and the current bid is just short of $20 million. $19 Million for NFT Apes It goes without saying that non-fungible tokens are where all the rage is within the past couple of months, with multiple collections selling for astronomic figures across a variety of blockchains such as Ethereum,...

Last month, Justin Sun, the founder of the popular blockchain TRON, purchased one Ether Rock for $500,000 and he believes that the art is like Picasso in 1932. Ether Rocks is one of the oldest non-fungible token collectibles that started gaining traction earlier this year. The NFT collection was launched in December 2017 and consists of 100 digital rocks that were tokenized on the Ethereum blockchain. Shortly after they were created, ETHRocks sold for 0.0999 ETH which was...

Decentralized fundraising cross-chain platform Poolz has launched a $2 million crypto fund that will enable it to invest in promising non-fungible tokens (NFTs) and blockchain-based gaming projects. Poolz to Invest in NFTs and Metaverse Projects The fund will be used to support developers who are into NFTs and metaverse gaming and to eliminate any financial constraints they may encounter while working on their projects, Poolz said in an official release shared with...

Binance NFT will soon open a premium collection from The State Hermitage Museum to their marketplace, which includes recreations of the museum’s masterpieces. The Collection: “Your token is kept in the Hermitage” As Binance just announced, The museum’s NFT collection is titled “Your token is kept in the hermitage” and includes 5 digital reproductions of artworks by legendary artists whose physical works they own. Specifically, the collection will include virtual copies of:...