NFTs
Cristobal Balenciaga NFT To the Moon drop inspired by founder’s original designs is live
Lorenzo Riva, the artist director of the luxury fashion brand Balenciaga during the 1980s, launched a much anticipated Cristóbal Balenciaga: To the Moon nonfungible token (NFT) collection on July 21 in collaboration with Cointelegraph. The NFT collection comprises 8,300 original, never-before-seen designs from Cristóbal Balenciaga himself. Cristóbal had humble beginnings as a local tailor’s apprentice and eventually rose to prominence in the fashion industry as a pioneer of novel garment shapes. These fashions, such as the sack dress and the cocoon coat, changed the course of women’s fashion in the 1950s. Lorenzo Riva and models wearing his unique designs During the 1980s, Lorenzo Riva served as the artistic director of Balenciaga and received the original designs created by Cris...
What is Enjin (ENJ) and how does it work?
What is Enjin and what are its main features? With blockchain-based nonfungible tokens (NFTs) powering the rise of Web3, a number of NFT-based projects are gaining significant importance, as they provide the technological means of assembling important data on blockchains in a visually appealing manner. Related: Nonfungible tokens: How to get started using NFTs Leading among them is Enjin, a world-class blockchain software co-founded by Maxim Blagov and Witek Radomski in 2009. Enjin helps build an entire Enjin ecosystem consisting of products that individuals, businesses and developers can use to develop, trade, monetize and market NFTs. Allowing users to manage NFTs and crypto through the Enjin wallet, lets them share NFTs through simple QR codes and provides them access to a dedicated mar...
$1-Million Up for Grabs in African Startups Competition
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Inside Superfly’s Web3-Powered Music Festival and How You Can Be a Part Of It
Superfly, Velvet Sea Ventures (VSV) and Tom Brady’s Autograph. io are officially unveiling their latest partnership: SuperNFTs. The project’s debut event will be SUPERF3ST, a community-built and Web3-powered music festival taking place in 2023. On Friday (July 15), 3,000 NFTs (dubbed SUPERPASS NFTs) will be minted and distributed to fans, who will in exchange receive the opportunity to help plan the upcoming festival as a SUPERF3ST Founder. SUPERPASS NFT owners will be a part of key decision-making moments from choosing a lineup to merchandise to location and more. Ahead of the minting, SuperNFT completed a $7 million Series A investment round with participation from JDS Sports, Art Blocks founder Erick Calderon (Snowfro), Pixel Vault, Inc. founder Sean Gearin (GFunk), marketing executive ...
Momint to Tokenise Iconic South African Coins
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Nifty News: Yuga Labs breaks silence, X2Y2 outpaces OpenSea and more…
Yuga Labs has finally broken its silence over the conspiracy theory that alleges the team embedded alt-right and Nazi memes/imagery into the artwork and branding behind the Bored Ape Yacht Club (BAYC). As Cointelegraph previously reported, the BAYC conspiracy theory was once again brought into the limelight on June 20 after YouTuber Philion published a video exploring the supposed evidence that artist Ryder Ripps initially compiled at the start of this year. In a Medium blog post shared via Twitter on June 25, Yuga Labs co-founder Gordon Goner said that the team finally decided to clear the air after the theory had gotten so much attention that one of their favorite podcasters was talking about it. “We’ve not responded in further detail to these allegations because frankly they are insanel...
Mark Zuckerberg Officially Launches Meta Pay
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New video revives debate over Bored Ape Yacht Club’s alleged ‘racist’ imagery
A video released by investigative YouTuber Philip Rusnack, known as ‘Philion,’ has revived the debate over whether Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection employs racist imagery and white supremacist esotericism. In the hour-long video released June 20 on YouTube, Rusnack laid out his case, claiming that BAYC is “one massive alt-right inside joke” using language, symbols, and memes from the anonymous image board website 4chan. He alleged the NFT images featured racist caricatures of Black and Asian peoples and drew comparisons between the symbology and language used by Yuga Labs and the BAYC with that used by the Nazis. For instance, an example widely used by supporters of the claims draws a comparison between the BAYC logo and the Nazi Totenkopf...
Avenged Sevenfold’s M. Shadows: Why the Future of Music Is Web3 (Guest Column)
Over the past year, I’ve had dozens of conversations with bands, managers and labels looking to get into NFTs. Many, I feel, are missing the point when it comes to the possibilities of Web3. Beneath the flashy ape jpegs, FOMO and hype is a tool that, if used correctly, facilitates a new form of engagement and transparency for artists and communities alike. In fact, we now find ourselves at the crossroads of an old business model and a burgeoning technological breakthrough. Building the future is exciting, no doubt, but will bring a battle for power between the old guard and the musicians, artists, and creators shaping the Web3 music industry. The new world will bring artists and their communities closer than ever while providing true ownership over assets and relationships that music...
Floor price of popular NFT collections collapse due to bear market
It appears there is no respite anywhere in the crypto realm in the face of Monday’s extraordinary market sell-off. Based on data from NFT Price Floor, the floor prices for Bored Ape Yacht Club (BAYC) and CryptoPunks, two of the most popular nonfungible token, or NFT, collections on the market, have fallen to 74 ETH ($92,223) and 48 ETH ($69,473), respectively. In comparison, pieces in the BAYC collection had an all-time high floor price of 153.70 ETH, while the same metric amounted to 123 ETH for CryptoPunks. The data aggregator tracks 380 collections with a total market cap of $5.58 billion at the time of publication. The sell-off among NFTs was partly exacerbated by a warning just a day prior, where Gordon Goner, co-founder of Yuga Labs — the firm owning both BAYC and CryptoP...
Hong Kong’s Securities and Futures Commission warn of nonfungible token risks
On Monday, Hong Kong’s Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote: “As with other virtual assets, NFTs are exposed to heightened risks, including illiquid secondary markets, volatility, opaque pricing, hacking and fraud. Investors should be mindful of these risks, and if they cannot fully understand them and bear the potential losses, they should not invest in NFTs.” However, it appears that the SFC’s specific concern lies in the securitization of NFTs. “The majority of NFTs observed by the SFC are intended to represent a unique copy of an underlying asset such as a digital image, artwork, music or...
CertiK shares security tips following third BAYC security compromise in six months
On June 4, the popular nonfungible token, or NFT, project Bored Ape Yacht Club (BAYC) suffered its third security compromise this year. Nearly 142 Ether (ETH) ($250,000) worth of NFTs was stolen after hackers gained access to the Discord account of a BAYC community manager and posted a message with a link to a fake website. The link advertised a limited-time free-NFT giveaway to users who connected their wallets, which were then drained of NFTs. During two prior occasions in April, hackers breached BAYC’s Discord and Instagram pages and managed to siphon 91 NFTs, worth over $1.3 million at the time of the second attempt, via a phishing link. As told by blockchain security firm CertiK, hackers quickly moved stolen funds to obfuscation platform Tornado Cash, making it imposs...
