While many were excited when Yuga Labs announced its first ordinals NFT collection last month, the exact nature of its auction process is proving highly controversial. Casey Rodarmor – the inventor of Ordinals – called the NFT giant’s sale “degenerate” due to putting its participants’ Bitcoin holdings at risk. The Problem With Bitcoin Auctions In...Read More
The emergent NFT marketplace Blur may have raised an open battle against the once-market leader, but the latter appears to be making a comeback, albeit slowly. According to Dune Analytics data compiled by sealaunch.xyz, the percentage of unique users on OpenSea saw an uptick since taking a plunge in mid-February. Simultaneously, it was found that...Read More
Coffeezilla – the popular YouTuber and “Internet Detective” covering crypto scams – is now accusing the mixed martial arts legend Khabib Nurmagomedov of “scamming” his followers with NFTs. The former UFC lightweight champion said his new collection will give fans access his his “private club,” while enabling holders to mine Bitcoin. Khabib’s NFT Collection Nurmagomedov...Read More
Blockchain intelligence platform Glassnode published a report on Wednesday analyzing how Blur – the new hotspot for NFT trading – is slowly reigniting the non-fungible economy on-chain. The firm noted a 94% increase in gas consumption from NFT-related transactions on Ethereum over the past 2 months. The Rise of Blur As the report explained, Ethereum...Read More
Indian crypto exchange WazirX has wound up its NFT marketplace operations with immediate effect. Currently, the WazirX NFT site displays a message to this effect. WazirX NFT Sunsetted “The WazirX NFT marketplace has been sunsetted. You can still trade your NFTs on OpenSea,” the message reads. In a statement on its site, Wazir said despite creating a...Read More
On Feb. 23, Dapper Labs CEO Roham Gharegozlou sent a letter to the team announcing a “corporate restructure” and the layoffs. It is the second round of company layoffs following its downsizing of employees by 22% in November. Gharegozlou stated: “As part of this restructure, we have made the difficult decision to part ways with...Read More
Dapper Labs will be forced to face a lawsuit from the Securities and Exchange Commission (SEC) alleging that the NFT Top Shot NFT Moments on its platform are unregistered securities, following a judge’s refusal to dismiss the case on Wednesday. United States District Court Judge Victor Marrero ruled that such NFTs may plausibly qualify as...Read More
On February 21st, Friendsies, a non-fungible token (NFT) collection that recently raised approximately $5 million, announced in an unexpected way that it would be taking a “pause” on its roadmap, sparking rumors in the community of a possible rug pull. According to the Friendsies team, “the volatility and challenges of the market” complicated the project’s...Read More
Chasing a bounty of over $2000, a coder has successfully imported the Ordinals NFT protocol to Litecoin. The new functionality arrives shortly after Bitcoin – the network on which Ordinals initially launched – surpassed 150,000 inscriptions this week. Why Litecoin Gets Ordinals On Sunday, a coder named Anthony Guerrera launched Litecoin Ordinals on GitHub by...Read More
Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. Users willing to join can apply until March 6, 2023. Focusing on NFTs and DAOs According to a document seen by CryptoPotato, the program will run from...Read More
NFTs have come to Bitcoin – and they’re quickly taking the network by storm. On Wednesday, BitMEX blog provided reviewed the adoption of Ordinals, the NFT-enabling protocol that’s been a subject of heated debate in the Bitcoin community over the past week. Just how much steam is the new feature generating on-chain? Ordinals: The Data...Read More
Ordinals – a new and controversial Bitcoin-based protocol – is making its mark on-chain with a record number of Taproot-related transactions, according to the blockchain data provider Glassnode. Nevertheless, the debate is still hot within the Bitcoin community as to whether the technology should be celebrated or cursed. The Popularization of Ordinals Ordinals were designed...Read More
American media personality, professional wrestler, and actor Logan Paul is one of the defendants in a class action lawsuit filed against failed non-fungible token (NFT) project CryptoZoo. The class action, filed by police officer Don Holland on behalf of 20,000 other victims, alleges that Paul and other defendants executed a rug pull after manipulating the...Read More
The popular on-chain sleuth ZachXBT recently called out two growing Twitter accounts for perpetrating multiple NFT-related scams over the past month. The analyst explained the timeline of events on Friday, including their sudden rise to prominence and the rug pulls they’ve managed to pull off. Calling Out the Scammers As outlined in the analyst’s Twitter...Read More
In a surprising turn of events, Logan Paul deleted his response video targetting Coffeezilla’s series on CryptoZoo, where he accused the latter of spreading misinformation and even threatened to take him to court. From posting sketches on Vine to transitioning to YouTube and even fighting in the WWE, controversy and legal issues have followed Logan...Read More
Logan Paul has been at the receiving end of seemingly endless controversies since his career took off as a media star. His two-year-old NFT venture – Crypto Zoo – is now under intense scrutiny. The latest development has ruffled a lot of feathers in the space. The crypto scam allegations are yet to fizzle out,...Read More
New year or not, NFT thefts are on the rise. Nikhil Gopalani, the COO of RTFKT, has become the latest victim. The exec took to Twitter to reveal losing a significant number of NFTs from his wallet in a phishing attack. “Hey Clone X community – I was hacked by a clever Phisher (same phone...Read More
DeGods and y00ts – have announced their departure from Solana and revealed that they would be migrating to Ethereum and Polygon. The two top NFT projects on Solana anticipate moving to new chains in the first quarter of 2023, according to their respective updates on Twitter. The duo stated, “The details of the bridge will...Read More
Nonfungible Token (NFT) sales are still in the gutter since their boom in popularity last year – and FTX’s bankruptcy has done nothing to help their prospects. Weeks after the exchange’s collapse, NFT volumes have plummeted to a 16-month low. According to data provided by Dappradar, NFT trading activity hasn’t seen such lows since July...Read More
The non-fungible token (NFT) space may have been spared the brunt of the catastrophic fall of FTX, but the battle for market share continues. Amidst the chaos, Magic Eden – the most popular marketplace for Solana NFTs – announced the launch of a new tool that will enforce royalties on all new collections that opt-in....Read More
Hong Kong-based blockchain gaming giant Animoca Brands is all set to roll out a massive $2 billion fund, dubbed “Animoca Capital,” to invest in metaverse businesses, according to co-founder and executive chairman Yat Siu. While speaking to Nikkei Asia, the exec revealed that the upcoming metaverse fund, which will make its first investment in 2023,...Read More
OpenSea – the world’s largest NFT marketplace – is bringing NFTs based on BNB Chain to its platform. The network’s collectibles will soon be available for listing and sale on OpenSea’s standard core marketplace. OpenSea Meets BNB Chain Per a press release shared with CryptoPotato, OpenSea’s Seaport protocol will launch BNB Chain starting in Q4...Read More
The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient. Centralized services are on the losing side. With the contagion unfolding, the decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears...Read More
Monkey Drainer has wreaked havoc yet again after stealing $800k worth of seven Crypto Punk and twenty Otherside NFTs, according to on-chain sleuth ZachXBT. Blockchain security firm, PechShield, also confirmed that the theft was carried out by a wallet tagged as Monkey Drainer. The stolen funds were then transferred to the coin mixer Tornado Cash....Read More
Last year’s NFT gold rush marked the ascent of OpenSea into a $13 billion company, but its competitors have been increasingly capturing market share. A new report suggests the transition of a previously monopolistic non-fungible token (NFT) market into an oligopoly. OpenSea Faces Stiff Competition According to the latest edition of Binance’s Market Pulse, NFTs had...Read More
On Oct. 4, the 1inch network announced a partnership with nonfungible token (NFT) domain name provider and digital identity platform Unstoppable Domains. The new collaboration signals a move into the decentralized domain space, which is currently dominated by the Ethereum Name Service (ENS). According to the announcement, the partnership will allow 1inch Wallet users to...Read More
Controversial crypto entrepreneur Jason Falovitch on Sunday reported that hackers breached his crypto wallet on OpenSea and stole four NFTs and six ETH. The value of the stolen assets is estimated to be in the range of $150,000, media reports said. In a similar incident, earlier this month, famous American actor and comedian Bill Muray became a...Read More
On September 15, American video game development company Epic Games announced the official launch of Blankos Block Party on its Game Store, making it the first NFT game to be included in the platform’s Marketplace. The beta version of Blankos Block Party was launched in 2020 by Mythical Games and has already gained more than...Read More
The overall demand for NFTs may be faltering, but those on the Solana are not. In fact, Solana NFT transactions skyrocketed to one million weekly, according to Nansen data. Pushing the trading volume across Solana-based NFT marketplaces are Magic Eden and Metaplex, that has increased their respective market shares of the overall NFT space this...Read More
Seoul-based TV giant LG Electronics announced the launch of its non-fungible token (NFT) marketplace – LG Art Lab – potentially opening up NFT collecting to a much broader audience. With the latest platform, based on the Hedera blockchain, users will be able to explore, buy, sell and trade NFTs on LG’s smart television sets. LG...Read More
