Moving NFTs Byond GIFs and JPEGs

[Featured Content] Even though NFTs have been one of the largest real-world use cases of blockchain and smart contracts to date, their adoption has been unidimensional. NFTs have been restricted to GIFs and JPEGs in popular culture, failing to incorporate the vastness the technology is actually capable of. Lepasa is a project that aims to …

Kawaii Islands – an NFT Play-to-Earn Game

[PRESS RELEASE – Tortola, British Virgin Islands, 12th October 2021] Kawaii Islands, an NFT play-to-earn game that launched in September of this year, will be conducting an IDO via the Polkastart platform at 13:00 UTC, Tuesday (October 12, 2021) and TGE on PancakeSwap at 14:00 UTC. The token’s initial market cap stands at around $800,000 …

ShoeFy Announces $3.65 Million Raise For Innovative NFT Platform With Utility Layers

ShoeFy, a decentralized project that has combined nonfungible tokens (NFTs) and fungible tokens (FTs) on one platform to add new utility layers to NFTs, has announced a $3.65-million round of fundraising. Investors include DuckDao, MoonWhale, ExNetwork, AU21, Basics Capital, Dutch Crypto Investors and more. Despite a heavily oversubscribed private sale, there are still two rounds …

Colors on Chain Announces Exciting Reward Game Based on NFT Colors

For the purpose of staying decentralized, Colors On Chain was built without specifying any specific rarity or characteristics. It is a collection of 8,888 distinct yield-revealing NFT colors produced and kept on-chain in perpetuity (art included). With the tokenId and position in a hex code string (length 6), a random number was chosen from a …

Solana NFTs are now live on the FTX marketplace

In its latest effort to expand its NFT services to its clients, FTX US has announced its support for a Solana NFT marketplace. This means that users of the exchange can now mint, trade, auction, and authenticate NFTs based on the Solana blockchain through the platform. FTX now supports Solana NFTs Previously, this was not …

Airdrops, DAOs, token issuance and public domains are the next frontier for NFTs

Volatility continues to be the name of the game for nonfungible tokens (NFTs) amid the rollercoaster valuations and volume surges, but a new trend appears to be emerging in the sector.  Aesthetic appeal aside, for many investors, buying an NFT is akin to casting a bait-laden hook into an opaque body of water and hoping …

Coinbase to Launch Its Own NFT Marketplace

Coinbase, a US-listed cryptocurrency exchange, announced on Tuesday the launch of its waiting list for its non-fungible tokens (NFTs) marketplace, Coinbase NFT. According to a press release shared with Finance Magnates, users will be able to mint, purchase, and showcase NFTs. The initial launch will support Ethereum-based ERC-721 and ERC-1155 standards, and Coinbase confirmed it …

Exclusive: Music Producer Rico Love to Sell NFTs on Corite’s Upcoming Blockchain Platform

Corite, a New York-based fan-powered music platform, announced on Tuesday that it would launch the latest project from music producer Rico Love, whose project expects to launch a sale of exclusive NFTs. According to the news shared exclusively with Finance Magnates, Love, who has written and produced tracks for artists like Beyoncé, Usher, Nelly, Trey …

Vitalik talks DAOs, Ethereum and NFTs in new interview

In a recent podcast interview with The Stakeborg Talks, co-founder of Ethereum Vitalik Buterin spoke candidly on a wide range of issues, including his early attraction to mathematics and problem-solving, the potential of decentralized autonomous organizations, or DAOs, his perspective on Bitcoin’s community and the nonfungible token, or NFT, space. Answering an inquiry as to …

Coinbase follows FTX and Binance in launching NFT marketplace

Major crypto exchange Coinbase has announced it will be opening a waitlist for a nonfungible marketplace it plans to launch later this year. In an Oct. 12 blog post, Coinbase vice president of product and ecosystem Sanchan Saxena said the nonfungible token, or NFT, marketplace would allow its users to mint, purchase, discover, and showcase …

New bridge connects Binance Smart Chain tokens and NFTs to Ethereum and Solana

Wormhole, the interoperability protocol that facilitates any type of data to be passed between different networks, announced the addition of Binance Smart Chain (BSC) support to its already existing ETH <> SOL token and NFT bridge.  Now, with more than $200 million in total value locked (TVL) in the protocol from its Solana and Ethereum …

Crypto NFT unicorn Sorare hit by UK regulators over operating a ‘gambling’ platform

The U.K. Gambling Commission, the country’s premier gambling watchdog, has launched an investigation into cards trading platform Sorare, said a notification released Monday.  The commission alleged Sorare offered and operated an unregistered gambling platform targeted towards UK citizens. The country has strict laws to keep gambling and other speculative activities in check and requires such …

FTX Launches Marketplace for Solana NFTs But Ethereum Still Leads

NFTs are attracting more interest around the world and Ethereum is at the center of the trend. With the goal of targeting the digital economy and digital transformation, many high-tech companies have taken steps to be part of this new hype. Following a plan to roll out a marketplace to feature Solana-based NFTss, FTX US …

This crypto investor lost an NFT worth $342,000 on a mere $12,600 loan

While many people are still not familiar with the use cases of nonfungible tokens (NFTs) in the crypto world, a creative NFT collector has found an interesting use for his NFT in Defi. How it happened Three months ago, a NFT collector took a loan of 3.5 ETH which as of press time was worth …

NFTs Expand as New Industries Break into The Metaverse

Development in the blockchain and cryptocurrency space creates hopes of the Metaverse’s future in the real world. NFTs are an important part of the metaverse and the talking point of mainstream media. More companies are working with NFTs, and given how flexible NFTs are as a format, it is likely the space has a lot …

UK Gambling Commission Flags NFT Fantasy Football Platform Sorare

The United Kingdom’s Gambling Commission has issued a notice against Sorare.com, a non-fungible token (NFT)-based fantasy football platform. According to last week’s notice, the NFT platform is not licensed by the UK gambling regulatory authority and is now under scrutiny. “This means that any activity completed on the site by consumers in Great Britain is …

Chess grandmaster Magnus Carlsen awarded NFT trophy after tournament win

For the first time in chess history, grandmaster Magnus Carlsen has been awarded a nonfungible token (NFT) trophy for winning an international chess tournament, Meltwater Champions Chess Tour (MCCT). The tournament minted a number of NFT trophies and collectibles to indefinitely preserve the game’s most defining moments.  Speaking to Cointelegraph, Carlsen shared his appreciation of …

Texas Democratic Party aims to use NFT sales for fundraising efforts

Front Row, a marketplace geared towards progressive organizations, has said it will be partnering with the Texas Democratic Party to pilot a program aimed at raising money for candidates and causes using nonfungible tokens. In an Oct. 11 announcement, Front Row said it had already minted digital images of key moments related to the progressive …

FTX.US expands NFT marketplace to support Solana tokens

FTX.US’s NFT marketplace has expanded support to the Solana blockchain, enabling users to trade, deposit and withdraw nonfungibles that conform to the Metaplex token standard. The U.S. registered branch of FTX announced the expanded functionality on Oct. 11, revealing the marketplace also plans to support Ethereum-based tokens in the near future. The marketplace is open …

FTX Launches Solana NFT Marketplace in the United States

The Solana NFT Marketplace has been officially launched, according to an Oct. 12 tweet from the FTX exchange. Any NFT pieces or collections on the new platform must be on the Solana blockchain; however, there are also plans to support Ethereum-based tokens, which are the industry standard. The FTX.US North American affiliate of the popular …