Tag Archives: Non-Fungible Token (NFT)

NFTs continue to attract not only more users but also capture the eyes of fraudulent entities. Web3 threat actors have set their sights on digital collectibles, with millions of funds being lost through different scams and attacks. A new report suggested that such thefts in the NFT space declined in June but remain rampant. NFT Theft: June Edition Shedding light into the NFT crime landscape for the month, PeckShield’s analysis revealed that fraudsters stole approximately...

CryptoPunks, one of the first non-fungible token (NFT) collections on the Ethereum blockchain, has reached a significant milestone as it celebrates its sixth anniversary. Since its launch in June 2017, CryptoPunks has captivated the world with its 10,000 digital collectibles, leaving an indelible mark on the NFT realm as the largest NFT collection by market cap. According to data compiled by blockchain analytics firm Nansen, CryptoPunks currently has an estimated market cap...

NFT data firm Mnemonic has secured a $6 million seed extension round led by Salesforce Ventures. Other participants of the fundraiser include Polygon Ventures, Orange DAO, FIN Capital, and FJ Labs. The latest capital infusion will be deployed to accelerate the product roadmap of Mnemonic amid rising demand for deeper on-chain insights by expanding the suite of APIs. Mnemonic’s CEO and Co-founder, Andrii Yasinetsky, revealed that the capital funds the company’s “ambitious...

Binance doubled down its efforts on the non-fungible token sector as it announced support for Bitcoin NFTs on Tuesday amidst severe turmoil in the crypto industry. The exchange’s NFT marketplace is the latest contender to step into the Bitcoin NFTs ring following Magic Eden’s support for the same. According to the latest update, the newly added list includes Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, Clay Pepes,...

The world’s leading cryptocurrency exchange – Binance – is launching a new NFT loan feature. It is designed to enable users to borrow cryptocurrency, using their non-fungible tokens as collateral. Binance continues its effort in the world of non-fungible tokens. According to a press release shared with CryptoPotato, the exchange is launching a new feature. It will allow users to borrow crypto while using their NFTs as collateral. However, it is worth noting that the loans...

The ordinals are coming in dank this week. Bitcoin Frogs was the #1 selling NFT collection for the 24-hour period on Wednesday. Frogs sales outpaced Bored Apes Yacht Club, CryptoPunks, and other popular collections for the day. The BRC-20 memecoin project describes itself as “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.” As of publication time, 3,700 frogs had owners. Meanwhile, hundreds were listed for sale on NFT marketplaces. That gecko that...

Savvy investors and NFT influencers have used the recent hype around memecoins as an opportunity to make solid profits. However, the majority of those who made money on such investments have only dealt with Pepe Coin (PEPE), while those diversifying with more than one have not been that successful. Despite its recent price fluctuations, the now-trending memecoin is still intriguing for crypto whales and NFT traders. Certain users have sold digital art part of the Bored Ape...

The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape. A recent report by leading crypto exchange Bitfinex has emphasized the token standard’s potential and the significance of identifying more use cases to expedite...

For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by skyrocketing transaction fees and network congestion as Bitcoin Ordinals reached unprecedented heights. While Bitcoin’s price is cautiously recovering with modest gains, the...

Ordinal inscriptions are on fire. Users are continuously flooding the Bitcoin network with images, video games, and other content. There are now more than 5 million inscriptions. Over the past seven days, the total inscription count has more than doubled from 2.5 million. Ordinals Skyrocket According to data from Dune Analytics, text-based inscriptions, also known as the BRC-20 token standard, accounted for a vast majority of the Bitcoin ordinal inscription. At the time of...