NFT
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...
deadmau5 and Richie Hawtin’s PIXELYNX to Launch NFT Scavenger Hunt In Miami
Like the Pokémon universe, there’s a certain urgency to catching all of what deadmau5 and Richie Hawtin‘s ELYNXIR has to offer. The first opportunity to experience the DJs’ upcoming NFT game arrives this week with the advent of a special augmented reality scavenger hunt from their music metaverse company, PIXELYNX. Taking place in Miami Beach, the hunt for 20 fractionalized pieces of an NFT is set to unfold alongside the start of the annual Art Basel event, which kicks off the first week of December. The gameplay experience has been described as “Rock Band meets Pokémon Go” by PIXELYNX’s co-founder, Inder Phull. The company’s strategy is to present the game in such a way that it bridges the gap between the real world and the digital realm. Scroll t...
deadmau5 and Richie Hawtin’s PIXELYNX to Launch NFT Scavenger Hunt In Miami
Like the Pokémon universe, there’s a certain urgency to catching all of what deadmau5 and Richie Hawtin‘s ELYNXIR has to offer. The first opportunity to experience the DJs’ upcoming NFT game arrives this week with the advent of a special augmented reality scavenger hunt from their music metaverse company, PIXELYNX. Taking place in Miami Beach, the hunt for 20 fractionalized pieces of an NFT is set to unfold alongside the start of the annual Art Basel event, which kicks off the first week of December. The gameplay experience has been described as “Rock Band meets Pokémon Go” by PIXELYNX’s co-founder, Inder Phull. The company’s strategy is to present the game in such a way that it bridges the gap between the real world and the digital realm. Scroll t...
Coachella NFTs Left in Limbo After FTX Crypto Exchange Goes Bankrupt
Music fans who have purchased NFTs from Coachella could be left twisting in the wind after the cryptocurrency exchange FTX recently filed for bankruptcy. The festival launched a longterm partnership with FTX back in February to offer $1.5 million in NFTs on a new marketplace. According to Billboard, a Coachella staff member revealed on the festival’s Discord server that they were unable to contact FTX. “Like many of you, we have been watching this news unfold online over the past few days and are shocked by the outcome,” they said. “We do not currently have any lines of communication with the FTX team. We have assembled an internal team to come up with solutions based on the tools we have access to. Our priority is getting Coachella NFTs off of FTX, which appears to be disabled at the...
Nike Launches .SWOOSH, A New Digital Community and Experience
HipHopWired Featured Video Source: NIKE / NIke Nike is launching .SWOOSH, a web3-enabled platform that champions athletes and serves the future of sport by creating a new, inclusive digital community and experience and a home for Nike virtual creations. Source: NIKE / NIke As spotted on Nice Kicks the new digital community and experience is a home for Nike virtual creations and uses blockchain-powered technology — or what many call “web3” — to offer an inclusive, equitable place for athletes, creators, collectors and consumers to design and own the future of sport. To ensure it is a safe, trusted space, .SWOOSH has its own domain: welcome.swoosh.nike. There, Nike Members will be able to learn about and collect virtual creations, which are typically interactive digital objects, such as...
3LAU Faces Lawsuit Over Royalty Dispute Related to $11 Million NFT Sale
One of 3LAU‘s collaborators has served the artist a lawsuit, claiming she has been under-compensated based on the terms of their agreement. 3LAU has been one of the music industry’s most steadfast purveyors of NFT technologies. As a result of his efforts, his own Ultraviolet NFT offering was met with much excitement, fetching over $11 million at auction and serving as a watershed moment. Now, Luna Aura, his collaborator on “Walk Away,” says she is owed a 50% royalty share of the NFT proceeds pertaining to that track, but instead was met with a $25,000 lump sum offer from 3LAU’s team. Aura’s camp also maintains they were not provided notice of the NFT sale itself and she has not received any revenue thus far, Billboard reports. Scroll to Continue Recommended Articles...
3LAU Faces Lawsuit Over Royalty Dispute Related to $11 Million NFT Sale
One of 3LAU‘s collaborators has served the artist a lawsuit, claiming she has been under-compensated based on the terms of their agreement. 3LAU has been one of the music industry’s most steadfast purveyors of NFT technologies. As a result of his efforts, his own Ultraviolet NFT offering was met with much excitement, fetching over $11 million at auction and serving as a watershed moment. Now, Luna Aura, his collaborator on “Walk Away,” says she is owed a 50% royalty share of the NFT proceeds pertaining to that track, but instead was met with a $25,000 lump sum offer from 3LAU’s team. Aura’s camp also maintains they were not provided notice of the NFT sale itself and she has not received any revenue thus far, Billboard reports. Scroll to Continue Recommended Articles...
What are crypto whale trackers and how do they work?
There are dedicated solutions to track the actions of crypto whales. These solutions can provide analytics on whale actions and, in some instances, can also make investment/trading decisions for the user. Crypto traders and investors constantly track the amount of cryptocurrencies going in and out of exchanges. When a cryptocurrency like Bitcoin or Ether (ETH) is moved in large quantities into an exchange, it is expected to see some sell action resulting in a fall in price. Conversely, if cryptocurrencies flow out of exchanges into wallets, it is considered a precursor to a rise in price. This is because when exchanges have a high net outflow of cryptocurrencies, they have reduced supply resulting in an increase in price. Oftentimes, a whale could buy cryptocurrencies on an exchange and mo...
NFT pricing strategy: How to price your NFTs?
Early in 2021, markets for nonfungible tokens (NFTs) started to gain some notoriety, and by the end of March 2021, this new market for digital assets had a total lifetime traded volume of about $550 million. Any digital asset can be an NFT including collectibles, artwork, video game characters, virtual world objects and digitized sports. A blockchain, often one on the Ethereum network, is where an NFT’s ownership is recorded. However, the sale of this digital asset will result in ownership transfers and the blockchain recording of the crypto payment received. This isn’t to say that NFTs and cryptocurrencies are the same. In general, one of the fundamental properties of cryptocurrencies and fiat money is fungibility or interchangeability, whereas the nonfungibility characteristic of N...
UK lawmakers open inquiry into NFT regulation — ‘there are fears that the bubble may burst’
Members of the United Kingdom’s Digital, Culture, Media and Sport Committee have opened an inquiry to hear from the public on the potential benefits and risks of nonfungible tokens, or NFTs, and blockchain on the country’s economy. In a Nov. 4 announcement, the DCMS committee said its inquiry was related to the sudden growth of the NFT market, responding to fears the assets may be overvalued and at risk of the bubble bursting. According to the committee, NFT regulation in the U.K. is “largely non-existent,” with the DCMS planning to assess the assets ahead of a review by the treasury department. What are the risks, and benefits of NFTs and the wider blockchain? We want to consider whether NFT investors, especially vulnerable speculators, are put at risk by the market and whether there is a...
Come one, come all! Meta to bring NFT minting and trading to Instagram
Social media platform Instagram is set to introduce a number of nonfungible token (NFT)-related tools that will allow creators to mint, show and sel NFTs. Instagram parent company Meta said on Nov. 2 during its Creator Week 2022 event that the platform would allow its creators to make “digital collectibles” and sell them “both on and off Instagram.” Meta says creators will have an “end-to-end toolkit” from creating, showing, then selling NFTs within the platform and has chosen the Polygon (MATIC) blockchain as an initial partner for this functionality. Concept images of Meta’s NFT interface for Instagram. Image: Meta It says a “small group” of United States-based creators will be eligible to test the new features and expansion to other countries will follow, but provided no information on ...
NFT vending machine to make digital art more accessible at London event
Multi-chain nonfungible token (NFT) marketplace myNFT has announced it will showcase its first-ever physical NFT vending machine at this year’s NFT.London event scheduled for Nov. 2–4. The NFT platform hopes to provide an easy and accessible way for people who want to start buying and trading digital assets without needing deep knowledge of the Web3 industry. The vending machine will allow users to purchase an NFT without owning a digital wallet. Users who want to purchase an NFT through myNFT’s vending machine will need to select one of the envelopes on display, and then key in the code provided. After paying, they’ll be able to scan the QR code in the envelope, which will come with an invitation to set up a myNFT account, complete with an NFT wallet, in which they’ll receive ...
