Tag Archives: Non-Fungible Token (NFT)

The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%. Bieber’s Massive Paper Loss Justin Bieber was among the famous individuals who dived into NFTs when the hype around them was at its peak. The superstar bought...

Football icon Cristiano Ronaldo will soon launch his CR7 NFT collection on Binance NFT. The athlete partnered with the crypto exchange in June to introduce non-fungible tokens and Web3 to his multi-million fan base. One of the most successful soccer players of all time – Cristiano Ronaldo – will drop his first NFT collection later this week. The digital collectibles will feature the Portuguese megastar and be available exclusively on the Binance NFT Marketplace. “Since our...

The first half of October has seen numerous crypto-related companies securing multi-million fundraisers. Some examples include Horizon Blockchain Games, Step, Uniswap Labs, Copper Technologies, and the investment start-up Pillow. Since the beginning of the year, digital asset firms have raised over $30 billion. Andreessen Horowitz and Sequoia Capital played a key role, both completing $9 billion fundraisers. The Beginning of October At the start of the month, the blockchain...

Defying a trend of decreasing NFT sales, award-winning actor Sir Anthony Hopkins has sold out his debut collection, “The Eternal Collection,” in just seven minutes. The record sale was announced by NFT design agency Orange Comet Inc. on Oct. 14. The firm, which worked with the octogenarian actor on the digital artwork, claimed that it was the fastest sellout in OpenSea history. The collection was originally announced in mid-August to celebrate the actor’s long and diverse...

The team behind the decentralized exchange – Uniswap Labs – raised $165 million in a Series B funding round, which will be allocated for NFT investments and developer tools. Shortly after the announcement, Uniswap’s native token – UNI – spiked by nearly 6%. Uniswap’s Latest Fundraiser Per a recent announcement, the multi-million initiative was led by prominent names in the financial field, including Polychain Capital, Andreessen Horowitz (a16z), SV Angel, Paradigm, and...

The diminishing interest in NFTs and the plunge in trading volumes have severely affected the soccer star – Neymar Jr. – and the renowned rapper – Eminem in terms of their digital art purchases. At the beginning of the year, the Brazilian athlete purchased two digital collectibles part of the Bored Ape Yacht Club for over $1 million, while their current valuation is around $340,000. Eminem’s paper losses as of the moment are approximately $330,000. More Celebrities Affected...

Scammers have reportedly sent consumers a new Solana Phantom security update assuring it will grant additional protection. However, wrongdoers have installed password-stealing malware through airdropped NFTs and used them to drain cryptocurrency from the affected wallets. Another Scam in the Space A recent coverage revealed that the scheme started two weeks ago when NFTs called “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM” reached some Phantom users. Upon opening, they were...

The American YouTuber, actor, and social media personality – Logan Paul – sits on a $623,000 unrealized loss due to his investment in a non-fungible token (NFT), part of the Azuki collection. His interaction with cryptocurrencies is not successful, too. Due to the market crash, the valuation of his holdings has shrunk by over $500,000. Logan Paul’s Crucial Paper Losses Similar to many other individuals, the popular YouTuber hopped on the crypto bandwagon last spring when the...

Despite starting on a promising note, the global macroeconomic environment influenced and adversely impacted the crypto market, which sustained several damaging corrections. The same could be said for the NFT market. However, new data suggest that the NFT business continues to be in great demand. High Demand for NFTs In Q3, the NFT trading volume climbed to $2.71 billion and was down by 67% from the previous quarter. But there has been an 8.3% increase in the sales count from...

As NFT games boom, the traditional video game industry is starting to take an interest in Web3 development, investing large sums of money in blockchain gaming companies. On October 04, Horizon Blockchain Games, a startup focused on Web3 game development, announced the raising of $40 million in a Series A funding round, which involved large traditional video game companies such as Ubisoft and Take-Two Interactive. According to Horizon’s press release, the funding round was led...