November 2023 proved to be a pivotal month for NFTs, with total sales skyrocketing to a staggering $915 million. Interestingly, this figure nearly tripled the preceding month’s return and hit an eight-month high since March 2023. This surge in sales volume signals a potential end to the extended ‘NFT Winter’, a term coined to reflect…
Investment firm Tiger Global has taken a significant step back from the NFT and crypto markets as it significantly reduces valuations of holdings in Bored Ape Yacht Club (BAYC) and OpenSea. The sharp markdowns of BAYC by a staggering 69% and OpenSea by a massive 94% reflect the firm’s concerns about the state of the…
Blur NFT marketplace brought its second season to a remarkable close with a substantial airdrop. The event resulted in a lucrative windfall for one trader, who pocketed over $8.4 million. Active Participation Rewarded in Style The trader, known to us only by the alias “Hanwe,” reaped the fruits of their active engagement throughout the second…
Standard Tokenization Protocol (STP) has announced the launch of the Autonomous Worlds Naming Service (AWNS), a significant new addition to the gaming environment landscape. Based on the ERC-6551 token standard, AWNS is an identity solution designed to transform how we integrate in the Web3 and blockchain-based spaces. AWNS Enhances User Interaction in Decentralized Environments The…
GS Partners, a company operating in the Web3 domain, is facing a wave of regulatory scrutiny across many U.S. states. Accusations levelled at GS Partners include violation of securities laws, false claims, and omissions regarding the sale of unregistered tokenized assets to retail investors. The legal action instigated by regulators directly targets several entities under…
PancakeSwap, a leading multi-chain decentralized exchange (DEX), is branching into blockchain gaming. A newly launched initiative, the PancakeSwap Gaming Marketplace, marks the platform’s venture into the play-to-earn sector. PancakeSwap Gaming Marketplace Featured Games To kick off the launch, PancakeSwap is featuring two games on its marketplace—’Pancake Protectors’ and ‘Pancake Mayor’. Both games cleverly incorporate PancakeSwap’s…
MetaMask Web3 wallet has recently introduced a significant update targeting non-fungible tokens (NFTs). This update seeks to augment the functionality and increase the quality of the user experience connected to NFTs. A noteworthy feature of this update is an NFT-specific tab implemented within the MetaMask Wallet. By simplifying the viewing and transferring procedures of NFTs,…
The NFT market is experiencing a remarkable turnaround, with sales volumes experiencing a notable surge. Despite broader market headwinds, the NFT space has not only demonstrated resilience but also hinted at a potentially bullish future. Current State of the NFT Market According to blockchain analytics firm, Nansen, the NFT market has seen a substantial uptick in…
Smart contracts are self-executing contracts containing an agreement between two or more parties directly written into code. They represent a collection of conditions and actions that automatically execute when predetermined requirements are satisfied. By leveraging blockchain technology, smart contracts provide a secure, transparent, and decentralized approach to executing transactions. This nitigates the need for intermediaries,…
Leading NFT marketplace OpenSea announced it will lay off half of its workforce in a significant restructuring move. CEO Devin Finzer expressed in an X thread that this change is to direct focus on “the next version” of their product. Early Achievements and Reception Founded in 2017, OpenSea arrived in the market when the term…
Elon Musk recently sparked a debate about NFTs on an episode of the Joe Rogan Experience podcast. His critique, suggesting that NFT projects should “encode the JPEG in the blockchain,” has drawn significant attention to the concept of in-chain storage for digital assets. Bitcoin Ordinals: The Case for On-Chain NFTs Musks comments highlighted the case…
Backpack, a popular NFT wallet app based on the Solana blockchain, has revealed its intentions to enter the regulated cryptocurrency exchange market with the upcoming launch of Backpack Exchange. This news comes after the company recently obtained a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). The VARA license…
The U.S. Marine Corps has undertaken a pilot project to harness the metaverse’s power to enhance its logistics operations. The initiative involved the construction of a digital twin of the Earth. By assimilating vast datasets related to assets, sensor data, telemetry, and more, this digital twin provides a comprehensive view of logistics operations. Realism in…
The ApeCoin DAO, following the approval of Ape Improvement Proposal (AIP) 209, has announced its partnership with Forj, an NFT platform under the umbrella of Animoca Brands. This collaboration aims to introduce an NFT accelerator program, designed to bolster projects that focus on augmenting the functionality and worth of the ApeCoin. Community-Driven Ape Accelerator The…
While NFTs have been the subject of both hype and skepticism, Head of Partnerships for ByBit, Anndy Lian, has taken a positive view of the current landscape. In a recent article, Lian dismantles the notion that the NFT market has reached its end. Contrary to popular belief, he argues that NFTs serve as a catalyst…
The University of Glasgow has taken a significant stride towards blending education with digital innovation through the launch of the £5.6 million “Museums in the Metaverse” project. With financial support from the UK Government’s Innovation Accelerator programme, this initiative seeks to combine history, heritage, and culture with extended reality (XR)—an umbrella term encompassing virtual reality,…
The International Cricket Council (ICC) is stepping up its engagement with technology, aiming to foster enhanced fan interaction during the 2023 Cricket World Cup in India. The recent announcement confirms the partnership between ICC and the Near Foundation. The objective? To provide fans with an interactive Web3 platform built on Near’s Blockchain Operating System. The…
Japanese conglomerate Hitachi has unveiled a pioneering training program, transforming the way employees acquire and hone their skills. By harnessing the power of the metaverse and virtual reality (VR) technology, Hitachi is set to redefine workforce development in a manner that is both immersive and dynamic. Bridging the Theory-Practice Divide Hitachi aims to bridge the…
Immutable X (IMX) has recently been at the center of heightened activity in the cryptocurrency market, with notable whale transactions drawing attention. Detailed examination of these transactions reveals significant movements involving IMX tokens. Whale Purchases IMX Tokens Worth Over $18 Million Data sources have identified that a whale, an individual or entity holding a substantial…
The blockchain gaming industry sees continual development with companies constantly seeking ways to offer richer user experiences. The latest player to enhance its offering in this space is Aavegotchi, with the launch of its Gotchi Game Center. Aimed at expanding the Aavegotchi universe, this center is not just an addition, but a focal point for…