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DeFi sector TVL rises as investors return to a bullish crypto market
The month of March has been a tale of two halves for the cryptocurrency market and the weakness seen since the start of the year has began to fade. Bitcoin’s (BTC) strong move above the $40,000 level is helping to lift sentiment across the sector, and DeFi tokens are also beginning to move upward. Crypto Fear & Greed Index. Source: Alternative.me Data from cryptocurrency market intelligence firm Messari shows that a majority of the top tokens in the DeFi sector have posted double-digit gains over the past 30 days, led by THORChain (RUNE), which has increased by 199.81%, and Aave (AAVE), which has seen its price increase 53.95% Top 12 DeFi assets. Source: Messari Here’s a rundown of the state of DeFi as the sector attempts to get back to its former glory and kickstart a new ...
GameStop NFT Marketplace now live and powered by Loopring L2
GameStop has confirmed its integration with Loopring (LRC), an Ethereum Layer 2 zkRollup protocol designed for powering decentralized cryptocurrency exchanges, into their highly anticipated NFT marketplace. Adam Browman, Loopring’s Head of Growth, announced on Medium on Wednesday that the beta version of GameStop’s marketplace had gone live. The future of #NFTs are here + they’re powered by #Ethereum‘s second layer Loopring L2 x @GameStop Power to the players.Power to the creatorsPower to the collectors.#L222https://t.co/0gdvKLivfp — Loopring☠️ (@loopringorg) March 23, 2022 According to Browman, GameStop, in partnership with Loopring L2, aims to provide “fast, cheap and secure” access to digital ownership for the masses. Th...
OpenSea planned upgrade stalls as phishing attack targets NFT migration
Just yesterday, OpenSea announced a smart contract upgrade, which requires users to migrate their listed NFTs from Ethereum (ETH) blockchain to a new smart contract. As a direct result of the upgrade, users that don’t migrate over from Ethereum risk losing their old, inactive listings — which currently require no gas fees for migration. Major nonfungible token (NFT) marketplace OpenSea has reportedly fallen victim to an ongoing phishing attack within hours after announcing a week-long planned upgrade to delist inactive NFTs on the platform. However, the urgency and short deadline opened up a small window of opportunity for hackers. Within hours after OpenSea’s upgrade announcement, reports across multiple sources emerged about an ongoing attack that targets the soon-to-be-delis...
OpenSea smart contract upgrade to delist inactive NFTs on Ethereum
OpenSea, one of the most popular nonfungible token (NFT) marketplace, has rolled out an upgrade to its smart contract, a proactive measure to weed out inactive listings on the platform. As a part of the planned upgrade, all OpenSea users will need to migrate their NFT listings — currently hosted over the Ethereum (ETH) blockchain — to the new smart contract. The new contract is live! Start migrating your listings now: https://t.co/W1w9ciCK2D — OpenSea (@opensea) February 18, 2022 According to the OpenSea announcement, the NFT listings created before Feb. 18 will automatically expire within a week by Feb. 25 by 2 PM ET: “This new upgrade will ensure old, inactive listings on Ethereum securely expire and allow us to offer new safety features in the future.” Upon successful migration, the NFT...
‘The industry will need to have dynamic NFTs,’ says Vivid Labs CEO Halsey Minor
Cointelegraph spoke about the nonfungible token, or NFT, market with Halsey Minor, CEO of the NFT publishing platform provider Vivid Labs. Vivid Labs offers the VIVID NFT platform that allows creators to build NFT marketplaces on its native blockchain. According to the company, they specialize in marketplaces that create NFTs with multimedia capabilities to bundle videos, images, audio and files into a single asset, called NFT+. Halsey argues that NFTs, however multimedia rich they may be, “can be more valuable if connected to real world products.” He is making a distinction between NFT creators that “sell media” like a song or artwork that “tends to be static” with immutable data, and creators who make dynamic assets with data that can be continuously updated tied to real world experience...
Tom Brady’s NFT platform Autograph raises $170M to scale operations
The nonfungible token (NFT) marketplace Autograph co-founded by Super Bowl champion Tom Brady has announced it closed on a $170 million funding round. In a Wednesday announcement, Autograph said Andreessen Horowitz, or a16z, and VC firm Kleiner Perkin co-led the $170-million Series B round with contributions from crypto investor Katie Haun’s firm, Nicole Quinn of Lightspeed Venture Partners, and San Francisco-based venture firm 01A. The company said it planned to use the funds to scale its NFT technology and hinted at a series of partnerships aimed at expanding its user base. In addition to the funding round, Haun, a16z general partner Arianna Simpson, and Kleiner Perkins partner Ilya Fushman will join Autograph’s board of directors, with a16z general partner Chris Dixon joining the firm’s...
OpenSea acquires Dharma Labs and a new CTO
OpenSea announced Tuesday the acquisition of Dharma Labs, a cryptocurrency lending platform and digital wallet, for an undisclosed amount. According to the statement, Dharma Labs would effectively shut down and its co-founders, Nadav Hollander and Brendan Forster, will become OpenSea’s new chief technology officer and its head of strategy, respectively. OpenSea claimed this acquisition will help accomplish its mission to scale product development, grow its team, expand its safety and reliability efforts and invest in the nonfungible token (NFT) and Web3 ecosystem. I’m happy to finally share that we’ve acquired @Dharma_HQ to help us scale our engineering, product and customer support! https://t.co/NnJdSFBzvo — Devin Finzer (dfinzer.eth) (@dfinzer) January 18, 2022 Devin Finzer, OpenSea’s co...
Anyswap, Keep3rV1, WEMIX follow Bitcoin’s move to $44K with double-digit rallies
The cryptocurrency community is back in high spirits on Jan. 12 after a majority of tokens in the top 200 flashed green following Bitcoin’s (BTC) spike to $44,000. The return of bullish momentum has come as a boon to several altcoin projects, with multiple tokens seeing gains in excess of 20%. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Anyswap (ANY), Keep3rV1 (KP3R) and WEMIX (WEMIX). Anyswap expands its list of supported networks Gains in the altcoin market were led by Anyswap, a decentralized exchange that specializes in allowing users to transfer and swap tokens between 25 distinct networks. Data from Cointelegraph Markets Pr...
5 NFT marketplaces that could topple OpenSea in 2022
OpenSea has been the dominant decentralized platform for users looking to mint, buy, sell and trade nonfungible tokens (NFTs). Serving more as an NFT aggregator than a gallery, OpenSea locked in $3.25 billion in volume for December 2021 alone, according to data from Dune Analytics and from December 2020 to December 2021, the total volume increased by a whopping 90,968%. No stranger to contention and criticism, OpenSea has had its fair share of perils and pitfalls. Most notably, its former head of product, Nate Chastain, found using insider information to front-run and profit from selling the platform’s front page NFTs. Adding to the overall feeling of distrust, the community felt devalued after newly appointed chief financial officer (CFO) Brian Roberts hinted at going public. However, he ...
Crypto exchange Kraken’s new NFT marketplace to issue loans
Kraken founder and CEO Jesse Powell recently shared in an interview with Bloomberg News that the crypto exchange will launch a nonfungible token (NFT) marketplace that will enable users to borrow funds against their NFTs. Powell explained that the company plans to enter the NFT space in early 2022 and hopes to add the feature to determine the liquidation value of an NFT and if it can be put up as collateral for a loan. “If you deposit a CryptoPunk on Kraken, we want to be able to reflect the value of that in your account,” said Powell. “And if you want to borrow funds against that.” The value of NFTs, however, is all over the spectrum and only a small percentage of token owners hold a digital collectible valued for as much as a CryptoPunk, whose floor price is 66.9 ...
Apple’s App Store hosting multi-million dollar scams – developer
Mobile app developer Kosta Eleftheriou has a new calling that goes beyond software development: taking on what he sees as a rampant scam problem ruining the integrity of Apple’s App Store. Eleftheriou, who created the successful Apple Watch keyboard app FlickType, has for the last two weeks been publicly criticizing Apple for lax enforcement of its App Store rules that have allowed scam apps, as well as apps that clone popular software from other developers, to run rampant. These apps enjoy top billing in the iPhone marketplace, all thanks to glowing reviews and sterling five-star ratings that are largely fabricated, he says. Up to now, I’ve been in the “Apple *wants* to do the right thing” camp. My viewpoint is starting to change. How to spot a $5M/year scam on the @AppS...
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