NFT hype evidently dead as daily sales in June 2022 dip to one-year lows

Nonfungible tokens (NFT) took center stage in the year 2021 as artists, influencers, A-list celebrities and the sports industry finally came across a fan engagement tool that empowered the general public to cash in on their success. However, the hype around NFT did not manage to stand its ground as sales plummeted to one-year lows amid the ruthless bear market of 2022. The NFT boom, which started in early 2021, upheld its glory until May 2022 — supported by a healthy and bullish crypto ecosystem and positive investor sentiment. However,…

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Ashanti aims to bring women to Web3, says “owning is important” at NFT music meetup

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York.  Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti…

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Binance Seals New NFT Deal Involving Football Star, Cristiano Ronaldo

Although many crypto firms are experiencing the bite of the bearish cryptocurrency season, Binance looks to up its game by taking an aggressive stance and signing a deal with football superstar Cristiano Ronaldo. This deal with Ronaldo will be centered around NFTs. Last week saw many layoffs in the crypto space. Binance CEO Changpeng Zhao was caught in attention when he posted a tweet at competitors who fired workers during the meltdown. It didn’t take much time for Crypto twitter to find the hilarity in the post, as the photo…

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NFT, DeFi and crypto hacks abound — Here’s how to double up on wallet security

The explosiveness and high dollar value of nonfungible tokens (NFTs) seem to either distract investors from upping their operational security to avoid exploits, or hackers are simply following the money and using very complex strategies to exploit collectors’ wallets. At least, this was the case for me way back when after I fell for a classic message sent to me over Discord that caused me to slowly but all too quickly lose my most valuable assets. Most of the scams on Discord occur in a very similar fashion where a…

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TAG Heuer has an NFT smartwatch: Nifty Newsletter, June 15–21

This week’s newsletter highlights Yahoo’s plans to get involved in nonfungible tokens (NFTs) and metaverse-based projects. Also, watch manufacturer TAG Heuer is dipping its toes into NFTs, and digital collectible platforms in China have increased in number despite warnings from the government. On a positive note, a CryptoPunk that was donated to Aid For Ukraine sold for more than $100,000. And don’t forget about this week’s Nifty News roundup featuring the new brand lead for CryptoPunks and a phishing attack on a Solana-based project. Yahoo is launching metaverse events for Hong…

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Uniswap acquires NFT marketplace aggregator Genie to further ‘universal ownership’ goals

Decentralized exchange Uniswap announced the acquisition of the NFT marketplace aggregator Genie on June 21st. Uniswap said this move is part of its mission to unlock universal ownership and exchange on its platform. Uniswap is now integrating NFTs into its product line beginning with the Uniswap web app and later integrations are said to include developer APIs and widgets. This isn’t the first time Uniswap has worked with NFTs. In the spring of 2019 it launched Unisocks which offered NFT liquidity pools backed by real-world assets. Uniswap said in the…

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Leading Solana NFT Marketplace, Magic Eden Raises $130M After Reaching $1.6B Valuation

The leading NFT marketplace on the Solana network, Magic Eden, has raised a total of $130 million in a Series B funding round. This funding round was co-led by Electric Capital and Greylock. The seeding round, announced on Tuesday, values the platform at $1.6 billion, making it level with Series B of OpenSea, the top Ethereum NFT marketplace. OpenSea is already valued at $13 billion after its Series C round, which was announced earlier this year. The leading Solana NFT marketplace disclosed that it plans to use the funds raised…

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Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation

On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital  valued the firm at $1.6 billion. The newly-infused capital will be used to expand the company’s primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development. Since its…

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Ex-Sushi CTO Raises $8 Million for Astaria, an NFT Lending Platform

Astaria, a non-fungible token (NFT) lending platform and liquidity engine, has acquired $8 million in early capital to support its development throughout the down market. True Ventures, Arrington Capital, Ethereal Ventures, Wintermute, Genesis Trading, LedgerPrime, Hypersphere Ventures, The LAO, and several other investors participated in the preliminary round of funding.   Users can use Astaria to generate instant liquidity by putting up their NFTs as collateral. According to Justin Bram, the co-founder and CEO of Astaria, the recent drop in NFT sales, coupled with signs of a bear market, makes Astaria’s…

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How to identify toxic NFT gaming projects

Over the last couple of years, games using blockchain technology have been actively developing and attracting new players, and the decentralized games market — broadly referred to as GameFi — has gained great popularity.  The GameFi industry started back in 2013, and since then, the sphere has been slowly developing, but in 2021 the popularity of decentralized games exploded along with the boom in nonfungible tokens (NFT). According to the DappRadar analytical service, the total value of one of the most popular blockchain-based games, Axie Infinity, exceeds $550 million. But…

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