Magic Eden
Magic Eden follows OpenSea with NFT royalty enforcement tool
Magic Eden, a Solana-based nonfungible token (NFT) marketplace, has become the latest platform to release a tool allowing creators to enforce royalties on their collections. It follows the announcement of a similar tool from rival NFT marketplace OpenSea in early November. According to a Dec. 1 statement, the open-source royalty enforcement tool is built on top of Solana’s SPL token standard and is called the Open Creator Protocol (OCP). This will allow royalty enforcement for new collections that opt-in to the standard starting Dec. 2. Lu previously floated the idea of NFTs designed to enforce royalties at Solana’s Breakpoint 2022 conference on Nov. 5, citing the need for NFT creators to have a “sustained revenue model.” Creators who use OCP will also be able to ban marketplaces tha...
NFTs still in ‘great demand’ as unique traders rise 18% in Oct: DappRadar
October may have seen a decline in nonfungible token (NFT) trading volume and sales, but analytics firm DappRadar says an 18% growth in monthly unique NFT traders shows the market is still in “great demand.” According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000. This is despite trading volumes falling 30% to $662 million in October, the lowest registered in 2022, while the sales count decreased by 30% to 6.13 million, the firm said, adding: “The rise in the unique traders’ count indicates that new people are entering the NFT market, and it is still in great demand.” Number of monthly unique NFT traders (millions). Source: DappRadar The month was a busy one for the ...
‘Grotesquely overpriced’ — Apple’s App Store wants 30% cut on NFT sales
Non-fungible token (NFT) app developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases. According to a Friday report from The Information, the smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play. The commission rate has however been slammed by some for being “grotesquely overpriced” — particularly when compared to standard NFT marketplace commissions, which are around 2.5%. Tech blogger Florian Mueller called Apple’s “app tax” on NFT sales “abusive but consiste...
Ongoing Solana-based wallet hack seeing millions drained
An ongoing, widespread hack has seen as much as $8 million in funds drained so far across a number of Solana-based hot wallets. At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds themselves, warning anyone with Solana-based hot wallets such as Phantom and Slope wallets to move their funds into cold wallets. Blockchain investigator PeckShield on August 2 said the widespread hack is likely due to a “supply chain issue” which has been exploited to steal user private keys behind affected wallets. It said the estimated loss so far is around $8 million. #PeckShieldAlert The widespread hack on Solana wallets is likely due to the supply chain issue exploited t...
Solana Ventures sets up $100M fund for GameFi and DeFi in South Korea
Solana Ventures and the Solana Foundation have formed a $100 million fund to help support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea. In addition to supporting projects built on Solana (SOL), the fund will help keep some Terra-based projects afloat following the collapse of that ecosystem last month. The Solana Foundation believes the developers from Terra should not be held responsible for what happened on the blockchain network. In an interview reported by Bloomberg on June 8, general manager for games at the Solana Foundation Johnny B. Lee said: “The developers did nothing really wrong, but they’re left in the lurch.” The new fund helps solidify Solana’s aim to become an ideal blockchain for gaming. Solana Ventures l...
Nifty News: AC Milan launches NFT collection, Magic Eden accepts Solana projects’ tokens and more
Italian professional soccer club AC Milan will be releasing its first-ever nonfungible token (NFT) project in collaboration with the BitMEX crypto exchange. Proceeds will go to Fondazione Milan, the clubs’ charity arm. The limited-edition collection will feature 75,817 NFTs, a number representative of the capacity of the club’s home ground, San Siro stadium. It will depict a 3D image of a jersey found in South Sudan by Danish war photographer Jan Grarup who was in the country documenting widespread flooding last December. BitMEX partnered with AC Milan to contribute to the project by providing trading discounts and “other benefits” to the first 10,000 pre-orders. BitMEX will also donate to Fondazione Milan by purchasing a “large number” of the NFTs. As per the announcement, the club says t...
Solana NFT marketplace integration and DApp metrics shine even after SOL’s 20% drop
Solana (SOL) price reached $143.50 on April 2 after an incredible 82% rally over a 20 day period. This positive performance can be attributed to recent NFT markets-related news and a marketwide bounce, but the current 22.7% decline could have investors confused. Solana/USDT at FTX. Source: TradingView The rally started after Coinbase Wallet added support for SOL and other Solana-based blockchain tokens on March 18. The crypto exchange also outlined plans to “further integrate” with Solana by connecting the Coinbase Wallet with the decentralized applications (DApps) and nonfungible tokens (NFTs) hosted on the network. The expectation of OpenSea’s integration of the Solana network also excited investors. This means Solana will join Ethereum, Polygon and Klaytn as the ...
Magic Eden teams up with Overtime to elevate sports NFT utility
Solana nonfungible token, or NFT, marketplace, Magic Eden has announced a partnership collaboration with popular sporting entertainment platform Overtime to launch an NFT collection proposing to enhance fan engagement and exclusive experiences. The partnership is orientated around the 2022 NCAA men’s basketball tournament, a national college championship conference often referred to as March Madness, and considered one of the largest sporting events in the United States. The tournament will commence on March 15 and conclude with a championship match at the near-75,000 seat Caesars Superdome stadium in New Orleans on April 4. Having amassed over 1 million and 6.5 million followers on Twitter and Instagram, respectively, cross-medium entertainment brand Overtime has obtained ≈ $135 million f...
