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Tensor on SOL NFT Marketplace Surge to $640M in Trading Volume
SNEAK PEEK
TNSR’s launch skyrockets to $640 million in volume, redefining market engagement.
Community benefits from over $200 million in airdropped TNSR tokens.
Price fluctuations and strategic rewards underscore the dynamic NFT landscape.
Today, the crypto sphere buzzed with activity as Tensor’s TNSR token, a newcomer in the Solana NFT marketplace, saw its trading volume soar to an impressive $640 million within just seven hours of its launch. With over $200 million in tokens distributed via airdrop rewards, the marketplace’s innovative approach to token distribution has clearly paid off, echoing the successful model pioneered by Blur on Ethereum. The TNSR token, now trading at $1.60, experienced a significant drop from its $2.45 peak, a common occurrence for freshly launched tokens grappling with market volatility.
$TNSR is live.
All treasure boxes (S1, S2 and S3) are now opened.
You have 180 days to claim your $TNSR . pic.twitter.com/SqZjAZtw9I
— Tensor Foundation (@TensorFdn) April 8, 2024
Tensor’s reward initiative, spanning four seasons since March 4, has played a crucial role in its community engagement strategy. Through this initiative, participants were rewarded with loot boxes, leading to the creation of Tensorian NFTs. These NFTs, integral to the ecosystem, encouraged users to hold and stake, with one fortunate individual bagging 712K TNSR tokens, equivalent to roughly $1.15 million.
The Tensor team has earmarked 55% of the TNSR token’s 1 billion supply for community distribution, underscoring its commitment to community-led governance. The initial airdrop accounted for 125 million tokens, or 12.5% of the total supply, showcasing the project’s dedication to its user base. However, it’s worth noting that users in the United States were excluded from this airdrop, a decision likely rooted in regulatory considerations.
As the NFT marketplace continues to evolve, strategies like token drops have become pivotal for projects aiming to capture the market’s attention. Despite the initial surge in engagement that such drops bring, maintaining interest over time remains a challenge that projects like Tensor must navigate.
In the broader landscape, Tensor’s launch positions it as a noteworthy player in the Solana ecosystem, even as competitors like Magic Eden continue to expand their presence across multiple blockchains, including Bitcoin and Ethereum. The unfolding dynamics within the NFT marketplace highlight the ongoing efforts by platforms to innovate and retain relevance in a rapidly changing digital asset environment.
Tensor’s strategic move to distribute TNSR tokens has not only garnered significant market attention but also set the stage for an intriguing evolution of the Solana NFT ecosystem. As the marketplace matures, the sustained interest and engagement of its community will be crucial to its long-term success and standing among competitors.
The post Tensor on SOL NFT Marketplace Surge to $640M in Trading Volume appeared first on Today NFT News.
TNSR’s launch skyrockets to $640 million in volume, redefining market engagement.
Community benefits from over $200 million in airdropped TNSR tokens.
Price fluctuations and strategic rewards underscore the dynamic NFT landscape.
Today, the crypto sphere buzzed with activity as Tensor’s TNSR token, a newcomer in the Solana NFT marketplace, saw its trading volume soar to an impressive $640 million within just seven hours of its launch. With over $200 million in tokens distributed via airdrop rewards, the marketplace’s innovative approach to token distribution has clearly paid off, echoing the successful model pioneered by Blur on Ethereum. The TNSR token, now trading at $1.60, experienced a significant drop from its $2.45 peak, a common occurrence for freshly launched tokens grappling with market volatility.
$TNSR is live.
All treasure boxes (S1, S2 and S3) are now opened.
You have 180 days to claim your $TNSR . pic.twitter.com/SqZjAZtw9I
— Tensor Foundation (@TensorFdn) April 8, 2024
Tensor’s reward initiative, spanning four seasons since March 4, has played a crucial role in its community engagement strategy. Through this initiative, participants were rewarded with loot boxes, leading to the creation of Tensorian NFTs. These NFTs, integral to the ecosystem, encouraged users to hold and stake, with one fortunate individual bagging 712K TNSR tokens, equivalent to roughly $1.15 million.
The Tensor team has earmarked 55% of the TNSR token’s 1 billion supply for community distribution, underscoring its commitment to community-led governance. The initial airdrop accounted for 125 million tokens, or 12.5% of the total supply, showcasing the project’s dedication to its user base. However, it’s worth noting that users in the United States were excluded from this airdrop, a decision likely rooted in regulatory considerations.
As the NFT marketplace continues to evolve, strategies like token drops have become pivotal for projects aiming to capture the market’s attention. Despite the initial surge in engagement that such drops bring, maintaining interest over time remains a challenge that projects like Tensor must navigate.
In the broader landscape, Tensor’s launch positions it as a noteworthy player in the Solana ecosystem, even as competitors like Magic Eden continue to expand their presence across multiple blockchains, including Bitcoin and Ethereum. The unfolding dynamics within the NFT marketplace highlight the ongoing efforts by platforms to innovate and retain relevance in a rapidly changing digital asset environment.
Tensor’s strategic move to distribute TNSR tokens has not only garnered significant market attention but also set the stage for an intriguing evolution of the Solana NFT ecosystem. As the marketplace matures, the sustained interest and engagement of its community will be crucial to its long-term success and standing among competitors.
The post Tensor on SOL NFT Marketplace Surge to $640M in Trading Volume appeared first on Today NFT News.
NFT Market Witnesses Fifth Consecutive Week of Sales Decline
SNEAK PEEK
Witness a persistent downturn in NFT sales volume, marking a significant 14% drop this week.
Contrast this with the cryptocurrency trading sector, where a record high of $2.94 trillion in spot trading volume was achieved in March.
Observe the resilience of top NFT collections and the growing interest in Bitcoin ETFs, highlighting nuanced investor sentiment in the digital asset market.
NFT market dynamics have shifted, marking a fifth consecutive week of sales volume decline, with a notable 14% reduction observed on Friday. This trend highlights a continued market downturn, starkly contrasting with the burgeoning growth in other sectors, such as cryptocurrency trading. In March, a significant surge in crypto trading volume was recorded, reaching a peak of $2.94 trillion in spot trading, a leap of 108% from previous figures.
Despite this general market upswing, NFT sales have consistently lagged. The sales downturn, quantified at a 13.72% drop this week alone, starkly contrasts the thriving activity on centralized crypto exchanges. These platforms witnessed a record-breaking trading volume surpassing $2 trillion, largely propelled by a bullish surge in Bitcoin prices. Yet, the NFT sector could not mirror this positive momentum, with key blockchain platforms, including Bitcoin and Ethereum, reporting sales declines. Specifically, Bitcoin-based NFT sales plummeted by 18%, while Ethereum, Solana, Mythos, and Polygon experienced respective decreases of 12.70%, 4.36%, and 19.7%.
Despite the downturn in the broader NFT market, certain top collections, such as Uncategorized Ordinals and Bored Ape Yacht Club (BAYC), managed to sustain notable sales volumes. Additionally, the investment landscape witnessed significant interest in Bitcoin ETFs, with total net inflows surpassing $12.6 billion. BlackRock’s IBIT emerged as a leader with $14.77 billion.
This juxtaposition of declining NFT sales against the backdrop of a booming cryptocurrency trading volume underscores the volatile nature of digital assets. While certain segments of the crypto market enjoy robust growth, others, like the NFT space, navigate through periods of adjustment and recalibration.
Moreover, the enduring interest in specific NFT collections and Bitcoin ETFs signifies a nuanced investor sentiment, balancing cautious optimism with strategic diversification. As the market evolves, stakeholders remain vigilant, monitoring trends and adjusting strategies to navigate the complex and ever-changing digital asset landscape.
The NFT market is currently experiencing a phase of consolidation, marked by a fifth week of declining sales volumes. This trend presents a stark contrast to the significant growth observed in the broader cryptocurrency trading sector, illustrating the diverse and dynamic nature of the digital asset ecosystem.
The post NFT Market Witnesses Fifth Consecutive Week of Sales Decline appeared first on Today NFT News.
Witness a persistent downturn in NFT sales volume, marking a significant 14% drop this week.
Contrast this with the cryptocurrency trading sector, where a record high of $2.94 trillion in spot trading volume was achieved in March.
Observe the resilience of top NFT collections and the growing interest in Bitcoin ETFs, highlighting nuanced investor sentiment in the digital asset market.
NFT market dynamics have shifted, marking a fifth consecutive week of sales volume decline, with a notable 14% reduction observed on Friday. This trend highlights a continued market downturn, starkly contrasting with the burgeoning growth in other sectors, such as cryptocurrency trading. In March, a significant surge in crypto trading volume was recorded, reaching a peak of $2.94 trillion in spot trading, a leap of 108% from previous figures.
Despite this general market upswing, NFT sales have consistently lagged. The sales downturn, quantified at a 13.72% drop this week alone, starkly contrasts the thriving activity on centralized crypto exchanges. These platforms witnessed a record-breaking trading volume surpassing $2 trillion, largely propelled by a bullish surge in Bitcoin prices. Yet, the NFT sector could not mirror this positive momentum, with key blockchain platforms, including Bitcoin and Ethereum, reporting sales declines. Specifically, Bitcoin-based NFT sales plummeted by 18%, while Ethereum, Solana, Mythos, and Polygon experienced respective decreases of 12.70%, 4.36%, and 19.7%.
Despite the downturn in the broader NFT market, certain top collections, such as Uncategorized Ordinals and Bored Ape Yacht Club (BAYC), managed to sustain notable sales volumes. Additionally, the investment landscape witnessed significant interest in Bitcoin ETFs, with total net inflows surpassing $12.6 billion. BlackRock’s IBIT emerged as a leader with $14.77 billion.
This juxtaposition of declining NFT sales against the backdrop of a booming cryptocurrency trading volume underscores the volatile nature of digital assets. While certain segments of the crypto market enjoy robust growth, others, like the NFT space, navigate through periods of adjustment and recalibration.
Moreover, the enduring interest in specific NFT collections and Bitcoin ETFs signifies a nuanced investor sentiment, balancing cautious optimism with strategic diversification. As the market evolves, stakeholders remain vigilant, monitoring trends and adjusting strategies to navigate the complex and ever-changing digital asset landscape.
The NFT market is currently experiencing a phase of consolidation, marked by a fifth week of declining sales volumes. This trend presents a stark contrast to the significant growth observed in the broader cryptocurrency trading sector, illustrating the diverse and dynamic nature of the digital asset ecosystem.
The post NFT Market Witnesses Fifth Consecutive Week of Sales Decline appeared first on Today NFT News.
Today’s Social Sim Secures Seed Funding for New Game Inspired By Animal Crossings With AI-Powered...
SNEAK PEEK
Today unveils a unique gaming landscape with tradeable digital assets and dynamic, AI-empowered characters.
Players craft personalized islands with “seeds” of varying rarity, providing diverse environments and experiences.
The game elevates player immersion by mimicking real-life interactions through cutting-edge AI technology.
Today, a Web3 enterprise at the forefront of innovative gaming experiences announced a successful $5 million seed funding to forge a new path in the realm of social simulation games. With a clear vision, Today sets out to craft a game that mirrors the charm and engagement of titles like Animal Crossings, yet with a distinctive twist: the incorporation of tradeable digital assets and AI-driven nonplayer characters (NPCs). This venture into a bespoke island metaverse promises a blend of creativity, exploration, and dynamic interactions, setting a new benchmark for the genre.
The essence of Today’s gaming experience hinges on “seeds,” a novel concept that allows players to generate unique island environments. These seeds, varying in rarity, dictate the layout, features, characters, and objects within each island, offering a personalized adventure to every player. The project aims for an early 2025 launch, with progress updates and teasers hinting at a world filled with warmth and community akin to the cozy games genre beloved by many.
A standout feature of Today’s game is its leap towards revolutionizing NPC interactions. Traditional social sim games often rely on pre-scripted dialogue trees, limiting the depth and realism of player-NPC relationships. Today, we plan to bridge this gap using generative AI technology, enhancing NPCs’ ability to engage in seemingly endless, meaningful conversations. This approach not only aims to enrich the gaming experience but also to maintain player engagement over time, addressing the common challenge of repetitive NPC dialogues.
Michael O’Connor, co-founder of Today, shared insights with GamesBeat on the project’s ambitions. He emphasized the goal of transcending the superficial exchanges typical in the genre by infusing NPCs with the nuances of real-life dynamics. This, according to O’Connor, will elevate player immersion and transform the standard of NPC interactions in social simulation games.
As Today progresses towards its launch, it remains committed to delivering a game that combines the best of social simulation with the cutting-edge possibilities of generative AI. By doing so, it aspires to create a digital space where players can experience unprecedented levels of interaction, exploration, and personalization.
The post Today’s Social Sim Secures Seed Funding for New Game Inspired by Animal Crossings with AI-Powered Characters appeared first on Today NFT News.
Today unveils a unique gaming landscape with tradeable digital assets and dynamic, AI-empowered characters.
Players craft personalized islands with “seeds” of varying rarity, providing diverse environments and experiences.
The game elevates player immersion by mimicking real-life interactions through cutting-edge AI technology.
Today, a Web3 enterprise at the forefront of innovative gaming experiences announced a successful $5 million seed funding to forge a new path in the realm of social simulation games. With a clear vision, Today sets out to craft a game that mirrors the charm and engagement of titles like Animal Crossings, yet with a distinctive twist: the incorporation of tradeable digital assets and AI-driven nonplayer characters (NPCs). This venture into a bespoke island metaverse promises a blend of creativity, exploration, and dynamic interactions, setting a new benchmark for the genre.
The essence of Today’s gaming experience hinges on “seeds,” a novel concept that allows players to generate unique island environments. These seeds, varying in rarity, dictate the layout, features, characters, and objects within each island, offering a personalized adventure to every player. The project aims for an early 2025 launch, with progress updates and teasers hinting at a world filled with warmth and community akin to the cozy games genre beloved by many.
A standout feature of Today’s game is its leap towards revolutionizing NPC interactions. Traditional social sim games often rely on pre-scripted dialogue trees, limiting the depth and realism of player-NPC relationships. Today, we plan to bridge this gap using generative AI technology, enhancing NPCs’ ability to engage in seemingly endless, meaningful conversations. This approach not only aims to enrich the gaming experience but also to maintain player engagement over time, addressing the common challenge of repetitive NPC dialogues.
Michael O’Connor, co-founder of Today, shared insights with GamesBeat on the project’s ambitions. He emphasized the goal of transcending the superficial exchanges typical in the genre by infusing NPCs with the nuances of real-life dynamics. This, according to O’Connor, will elevate player immersion and transform the standard of NPC interactions in social simulation games.
As Today progresses towards its launch, it remains committed to delivering a game that combines the best of social simulation with the cutting-edge possibilities of generative AI. By doing so, it aspires to create a digital space where players can experience unprecedented levels of interaction, exploration, and personalization.
The post Today’s Social Sim Secures Seed Funding for New Game Inspired by Animal Crossings with AI-Powered Characters appeared first on Today NFT News.
Upland Gaming Platform Initiates Airdrop Series in Collaboration With NFTNYC
SNEAK PEEK
Upland announces the launch of its innovative airdrop series at NFTNYC, offering unique NFT game pieces and exclusive signup bonuses.
Engage with social content and complete tailored missions to earn points convertible to SPARKLET, enhancing the metaverse-building experience.
With the integration of “hidden property” NFTs in virtual Manhattan and the upcoming Sparklet Token Event, Upland is setting new standards in the GameFi and creator economy.
Upland, the vibrant metaverse platform, has officially announced the launch of its much-anticipated “Share & Build” airdrop series. This initiative was unveiled by co-founder Dirk Lueth at the NFTNYC OMA3 panel, setting a new chapter for digital engagement and community building. The series kicks off with a special offering for NFTNYC participants, granting them an exclusive NFT game piece for the Upland metaverse and a unique signup bonus upon joining the Share & Build platform.
Adding excitement to this launch, Upland has revealed that three “hidden property” NFTs will be integrated into the already sold-out virtual Manhattan, further enriching the user experience. This move underscores the platform’s commitment to innovation and user engagement in the evolving digital landscape.
1/Welcome to Share-and-Build Airdrop Chapter 1
The long awaited $SPARKLET #airdrop is here, waiting for players, gamers, entrepreneurs and developers to join the BEST community in #web3.
TOGETHER we’re building the largest gaming platform powered by a digital open economy.… pic.twitter.com/URrYMXgggs
— Upland (@UplandMe) April 4, 2024
The “Share & Build” Airdrop Series, titled Chapter 1 – Social Engagement Rewards, is set to span three weeks. It introduces a novel way for participants to accumulate points by engaging with social content on Twitter. These points are then convertible to SPARKLET, Upland’s in-game utility token, enhancing the gaming and building experience within the metaverse. Simultaneously, Upland users can earn tokens by completing tailored missions, adding layers of interaction and reward to the platform’s ecosystem.
This airdrop series paves the way for the upcoming Sparklet Token Event, reflecting a strategic move by Upland following the token’s rebranding from SPARK. With over 130,000 holders and a strong community endorsement of its White Paper, SPARKLET is at the forefront of Upland’s mission to power its GameFi builder and creator economy. The overwhelming approval rate of 87.25% from the community for the White Paper highlights the token’s potential and the community’s trust in Upland’s vision.
Upland’s initiative to bridge SPARKLET for use outside of its platform marks a significant step towards integrating the digital and physical worlds. This development not only broadens the utility of SPARKLET but also reinforces Upland’s position as a pioneering force in the metaverse and GameFi sectors.
In conclusion, Upland’s “Share & Build” airdrop series not only enriches the platform’s ecosystem but also aligns with the broader vision of fostering a dynamic and engaging digital community. Through innovative engagement strategies and the expansion of SPARKLET’s utility, Upland continues to pave the way for a more interactive and immersive metaverse experience.
The post Upland Gaming Platform Initiates Airdrop Series in Collaboration with NFTNYC appeared first on Today NFT News.
Upland announces the launch of its innovative airdrop series at NFTNYC, offering unique NFT game pieces and exclusive signup bonuses.
Engage with social content and complete tailored missions to earn points convertible to SPARKLET, enhancing the metaverse-building experience.
With the integration of “hidden property” NFTs in virtual Manhattan and the upcoming Sparklet Token Event, Upland is setting new standards in the GameFi and creator economy.
Upland, the vibrant metaverse platform, has officially announced the launch of its much-anticipated “Share & Build” airdrop series. This initiative was unveiled by co-founder Dirk Lueth at the NFTNYC OMA3 panel, setting a new chapter for digital engagement and community building. The series kicks off with a special offering for NFTNYC participants, granting them an exclusive NFT game piece for the Upland metaverse and a unique signup bonus upon joining the Share & Build platform.
Adding excitement to this launch, Upland has revealed that three “hidden property” NFTs will be integrated into the already sold-out virtual Manhattan, further enriching the user experience. This move underscores the platform’s commitment to innovation and user engagement in the evolving digital landscape.
1/Welcome to Share-and-Build Airdrop Chapter 1
The long awaited $SPARKLET #airdrop is here, waiting for players, gamers, entrepreneurs and developers to join the BEST community in #web3.
TOGETHER we’re building the largest gaming platform powered by a digital open economy.… pic.twitter.com/URrYMXgggs
— Upland (@UplandMe) April 4, 2024
The “Share & Build” Airdrop Series, titled Chapter 1 – Social Engagement Rewards, is set to span three weeks. It introduces a novel way for participants to accumulate points by engaging with social content on Twitter. These points are then convertible to SPARKLET, Upland’s in-game utility token, enhancing the gaming and building experience within the metaverse. Simultaneously, Upland users can earn tokens by completing tailored missions, adding layers of interaction and reward to the platform’s ecosystem.
This airdrop series paves the way for the upcoming Sparklet Token Event, reflecting a strategic move by Upland following the token’s rebranding from SPARK. With over 130,000 holders and a strong community endorsement of its White Paper, SPARKLET is at the forefront of Upland’s mission to power its GameFi builder and creator economy. The overwhelming approval rate of 87.25% from the community for the White Paper highlights the token’s potential and the community’s trust in Upland’s vision.
Upland’s initiative to bridge SPARKLET for use outside of its platform marks a significant step towards integrating the digital and physical worlds. This development not only broadens the utility of SPARKLET but also reinforces Upland’s position as a pioneering force in the metaverse and GameFi sectors.
In conclusion, Upland’s “Share & Build” airdrop series not only enriches the platform’s ecosystem but also aligns with the broader vision of fostering a dynamic and engaging digital community. Through innovative engagement strategies and the expansion of SPARKLET’s utility, Upland continues to pave the way for a more interactive and immersive metaverse experience.
The post Upland Gaming Platform Initiates Airdrop Series in Collaboration with NFTNYC appeared first on Today NFT News.
Binance NFT Marketplace to Cease Support for Bitcoin NFTs
SNEAK PEEK
Binance NFT Marketplace announces the discontinuation of trades and deposits involving Bitcoin NFTs.
Users are urged to withdraw their Bitcoin NFTs before the specified deadline to avoid any inconvenience.
Additionally, benefits and utilities associated with Bitcoin NFTs will cease after a certain date, impacting users’ strategies and decisions.
Binance NFT Marketplace has discontinued support for trades and deposits involving Bitcoin NFTs, effective April 18, 2024, at 06:00 (UTC). Users are urged to withdraw their Bitcoin NFTs via the Bitcoin network before May 18, 2024, at 00:00 (UTC) to avoid inconvenience.
Commencing from April 18, 2024, at 06:00 (UTC), users will no longer have the option to purchase, deposit, bid on, or list NFTs on the Binance NFT Marketplace through the Bitcoin network. All existing listing orders affected by this change will be automatically canceled at the time mentioned above.
Furthermore, the Binance NFT Marketplace will discontinue any airdrops, benefits, or utilities associated with Bitcoin NFTs after April 10, 2024.
Regarding Runestone NFTs, Binance NFT has distributed these NFTs to eligible users’ accounts ahead of schedule by April 4, 2024, at 10:00 (UTC). Users eligible for the Runestone airdrop are advised to withdraw their NFTs by April 10, 2024, at 10:00 (UTC) to ensure eligibility for any associated tokens, utilities, and benefits post-April 10. Binance emphasizes that failure to withdraw NFTs within the stipulated timeframe may result in user losses.
In light of these changes, Binance NFT Marketplace aims to streamline its offerings, ensuring optimal user experience and efficiency in NFT trading. Users are encouraged to take necessary actions to safeguard their assets and remain updated on further developments from Binance NFT Marketplace.
The post Binance NFT Marketplace to Cease Support for Bitcoin NFTs appeared first on Today NFT News.
Binance NFT Marketplace announces the discontinuation of trades and deposits involving Bitcoin NFTs.
Users are urged to withdraw their Bitcoin NFTs before the specified deadline to avoid any inconvenience.
Additionally, benefits and utilities associated with Bitcoin NFTs will cease after a certain date, impacting users’ strategies and decisions.
Binance NFT Marketplace has discontinued support for trades and deposits involving Bitcoin NFTs, effective April 18, 2024, at 06:00 (UTC). Users are urged to withdraw their Bitcoin NFTs via the Bitcoin network before May 18, 2024, at 00:00 (UTC) to avoid inconvenience.
Commencing from April 18, 2024, at 06:00 (UTC), users will no longer have the option to purchase, deposit, bid on, or list NFTs on the Binance NFT Marketplace through the Bitcoin network. All existing listing orders affected by this change will be automatically canceled at the time mentioned above.
Furthermore, the Binance NFT Marketplace will discontinue any airdrops, benefits, or utilities associated with Bitcoin NFTs after April 10, 2024.
Regarding Runestone NFTs, Binance NFT has distributed these NFTs to eligible users’ accounts ahead of schedule by April 4, 2024, at 10:00 (UTC). Users eligible for the Runestone airdrop are advised to withdraw their NFTs by April 10, 2024, at 10:00 (UTC) to ensure eligibility for any associated tokens, utilities, and benefits post-April 10. Binance emphasizes that failure to withdraw NFTs within the stipulated timeframe may result in user losses.
In light of these changes, Binance NFT Marketplace aims to streamline its offerings, ensuring optimal user experience and efficiency in NFT trading. Users are encouraged to take necessary actions to safeguard their assets and remain updated on further developments from Binance NFT Marketplace.
The post Binance NFT Marketplace to Cease Support for Bitcoin NFTs appeared first on Today NFT News.
Coachella Unveils Blockchain-Based Quest Game Featuring Avalanche NFTs At Music Festival
SNEAK PEEK
Coachella 2024 introduces Coachella Quests, a blockchain-based game, enabling attendees to earn exclusive festival perks by completing quests.
Developed in partnership with Ava Labs, the game rewards participants with NFT stamps for festival benefits, including VIP access and unreleased music.
The Coachella Canvas app acts as a digital passport, documenting experiences and facilitating a deeper connection between the festival and its goers.
Coachella Music Festival attendees are in for a treat this year as they embark on a unique journey with Coachella Quests, a blockchain-based game designed to enhance their festival experience. Developed by Coachella Innovations in collaboration with Ava Labs, creators of the Avalanche blockchain, this game introduces a novel way for festival-goers to engage with the event and earn exclusive rewards.
As participants complete various quests both at the festival grounds and on the Coachella Discord server, they will collect stamps and points. These can be exchanged for special festival benefits such as access to the Oasis VIP lounge, unreleased music, and even a rare NFT that includes guest passes for the 2025 festival.
This initiative allows Coachella organizers to gain valuable insights into the preferences and activities of their guests. Sam Schoonover, Coachella Innovation Lead, explains that the quests are intricately linked to the festival’s array of partners, artists, and venues, providing a digital footprint of attendees’ experiences.
To facilitate this immersive experience, the Coachella Canvas app is launched, serving as a digital passport for attendees to document their festival journey. Complete with rules and prize redemption details, the app aims to enhance participant engagement without compromising their privacy.
Moreover, the partnership with Ava Labs represents another step into the Web3 space for Coachella. This follows their previous collaboration with the now-defunct FTX US for auctioning a lifetime pass NFT. Despite challenges, such as the FTX collapse, Coachella continues to innovate, most recently launching a collection of digital collectibles on the OpenSea marketplace with Ava Labs.
D.A.N.C.E
Register now for access to passes at https://t.co/qujCsdlTip. Presale begins Friday, 1/19 at 11am PT. pic.twitter.com/DlApQGXnBb
— Coachella (@coachella) January 17, 2024
Avalanche’s technology, known for its high throughput and quick transaction confirmation times, is touted as well-suited to handle the dynamic environment of Coachella. Ava Labs emphasizes ease of use with a system designed to seamlessly award stamps on attendees’ Canvas Cards, turning them into dynamic NFTs.
Ava Labs and Coachella Innovations are setting up an activation hub at the festival to assist attendees with the game setup and to provide a strong Wi-Fi signal, anticipating it to be a popular spot for those looking to connect.
This integration of blockchain technology into the Coachella experience signifies a forward-thinking approach to enhancing attendee engagement, providing a glimpse into the future of music festivals.
The post Coachella Unveils Blockchain-Based Quest Game Featuring Avalanche NFTs at Music Festival appeared first on Today NFT News.
Coachella 2024 introduces Coachella Quests, a blockchain-based game, enabling attendees to earn exclusive festival perks by completing quests.
Developed in partnership with Ava Labs, the game rewards participants with NFT stamps for festival benefits, including VIP access and unreleased music.
The Coachella Canvas app acts as a digital passport, documenting experiences and facilitating a deeper connection between the festival and its goers.
Coachella Music Festival attendees are in for a treat this year as they embark on a unique journey with Coachella Quests, a blockchain-based game designed to enhance their festival experience. Developed by Coachella Innovations in collaboration with Ava Labs, creators of the Avalanche blockchain, this game introduces a novel way for festival-goers to engage with the event and earn exclusive rewards.
As participants complete various quests both at the festival grounds and on the Coachella Discord server, they will collect stamps and points. These can be exchanged for special festival benefits such as access to the Oasis VIP lounge, unreleased music, and even a rare NFT that includes guest passes for the 2025 festival.
This initiative allows Coachella organizers to gain valuable insights into the preferences and activities of their guests. Sam Schoonover, Coachella Innovation Lead, explains that the quests are intricately linked to the festival’s array of partners, artists, and venues, providing a digital footprint of attendees’ experiences.
To facilitate this immersive experience, the Coachella Canvas app is launched, serving as a digital passport for attendees to document their festival journey. Complete with rules and prize redemption details, the app aims to enhance participant engagement without compromising their privacy.
Moreover, the partnership with Ava Labs represents another step into the Web3 space for Coachella. This follows their previous collaboration with the now-defunct FTX US for auctioning a lifetime pass NFT. Despite challenges, such as the FTX collapse, Coachella continues to innovate, most recently launching a collection of digital collectibles on the OpenSea marketplace with Ava Labs.
D.A.N.C.E
Register now for access to passes at https://t.co/qujCsdlTip. Presale begins Friday, 1/19 at 11am PT. pic.twitter.com/DlApQGXnBb
— Coachella (@coachella) January 17, 2024
Avalanche’s technology, known for its high throughput and quick transaction confirmation times, is touted as well-suited to handle the dynamic environment of Coachella. Ava Labs emphasizes ease of use with a system designed to seamlessly award stamps on attendees’ Canvas Cards, turning them into dynamic NFTs.
Ava Labs and Coachella Innovations are setting up an activation hub at the festival to assist attendees with the game setup and to provide a strong Wi-Fi signal, anticipating it to be a popular spot for those looking to connect.
This integration of blockchain technology into the Coachella experience signifies a forward-thinking approach to enhancing attendee engagement, providing a glimpse into the future of music festivals.
The post Coachella Unveils Blockchain-Based Quest Game Featuring Avalanche NFTs at Music Festival appeared first on Today NFT News.
OpenSea Introduces Support for the ERC-721C Programmable Earnings Standard
SNEAK PEEK
OpenSea supports ERC-721C, enabling creators to implement enforceable on-chain royalties.
The standard addresses NFT wash trading by standardizing token transfer conditions.
Compatibility with Seaport 1.6 allows sales under specific conditions, boosting creators’ earnings.
OpenSea, the leading platform for non-fungible token (NFT) trading, has announced its support for the ERC-721C token standard. This innovation empowers creators with the ability to set and enforce on-chain royalties through a streamlined process. Created by blockchain gaming company Limit Break in May, the ERC-721C standard addresses the issue of NFT wash trading by establishing uniform conditions for token transfers, including royalty agreements, across various platforms.
Before the advent of ERC-721C, it was a straightforward process to circumvent creator royalties on secondary markets such as OpenSea and Blur. Users could transfer NFTs through self-custody wallets or other marketplaces that did not respect the royalty stipulations set by creators. This practice not only deprived creators of their deserved earnings but also encouraged the problematic behavior of wash trading. Wash trading involves trading NFTs among one’s wallets to farm tokens, a tactic that undermines the NFT industry’s integrity.
The compatibility for ERC-721C on OpenSea became feasible following the Ethereum network’s Dencun upgrade on March 13. This development signifies a major step forward in ensuring creators receive their rightful earnings. OpenSea elaborated that sales enforcing creator earnings under the new standard would be confined to OpenSea and select marketplaces integrated with Limit Break’s Payment Processor.
This feature aligns with OpenSea’s Seaport 1.6, facilitating the sale of NFTs under specific conditions, such as variations in metadata in response to sales volume. While creators have discretion over the percentage of royalties, which typically ranges from 2.5% to 10%, the inclusion of ERC-721C could significantly enhance creators’ revenue streams. Notably, the top ten NFT collections have amassed over $345 million in royalties to date, showcasing the substantial impact of creator fees on the digital art ecosystem.
In conclusion, OpenSea’s integration of the ERC-721C token standard represents a pivotal advancement in the NFT domain. It not only secures creators’ earnings but also promotes fairness and transparency across the NFT market.
The post OpenSea Introduces Support for the ERC-721C Programmable Earnings Standard appeared first on Today NFT News.
OpenSea supports ERC-721C, enabling creators to implement enforceable on-chain royalties.
The standard addresses NFT wash trading by standardizing token transfer conditions.
Compatibility with Seaport 1.6 allows sales under specific conditions, boosting creators’ earnings.
OpenSea, the leading platform for non-fungible token (NFT) trading, has announced its support for the ERC-721C token standard. This innovation empowers creators with the ability to set and enforce on-chain royalties through a streamlined process. Created by blockchain gaming company Limit Break in May, the ERC-721C standard addresses the issue of NFT wash trading by establishing uniform conditions for token transfers, including royalty agreements, across various platforms.
Before the advent of ERC-721C, it was a straightforward process to circumvent creator royalties on secondary markets such as OpenSea and Blur. Users could transfer NFTs through self-custody wallets or other marketplaces that did not respect the royalty stipulations set by creators. This practice not only deprived creators of their deserved earnings but also encouraged the problematic behavior of wash trading. Wash trading involves trading NFTs among one’s wallets to farm tokens, a tactic that undermines the NFT industry’s integrity.
The compatibility for ERC-721C on OpenSea became feasible following the Ethereum network’s Dencun upgrade on March 13. This development signifies a major step forward in ensuring creators receive their rightful earnings. OpenSea elaborated that sales enforcing creator earnings under the new standard would be confined to OpenSea and select marketplaces integrated with Limit Break’s Payment Processor.
This feature aligns with OpenSea’s Seaport 1.6, facilitating the sale of NFTs under specific conditions, such as variations in metadata in response to sales volume. While creators have discretion over the percentage of royalties, which typically ranges from 2.5% to 10%, the inclusion of ERC-721C could significantly enhance creators’ revenue streams. Notably, the top ten NFT collections have amassed over $345 million in royalties to date, showcasing the substantial impact of creator fees on the digital art ecosystem.
In conclusion, OpenSea’s integration of the ERC-721C token standard represents a pivotal advancement in the NFT domain. It not only secures creators’ earnings but also promotes fairness and transparency across the NFT market.
The post OpenSea Introduces Support for the ERC-721C Programmable Earnings Standard appeared first on Today NFT News.
Munchables Overhauls Security Measures and Development Team Following $68 Million Heist
SNEAK PEEK
Munchables takes decisive action with a security overhaul and smart contract reaudits after recovering stolen Ether, showcasing a commitment to user safety.
New multisig signers from top-tier firms join the fight to fortify Munchables against future threats, enhancing the security of the platform’s funds.
Rewarding loyalty and acknowledging community support, Munchables boosts rewards for returning gamers.
In a swift response to a recent security breach, Munchables, the Ethereum-based NFT gaming platform, has announced comprehensive measures to bolster its operational and contractual security. The incident, which saw over 17,400 Ether—valued at approximately $3,370 each—stolen by a rogue developer from within the organization, prompted an urgent overhaul of the platform’s security protocols. Remarkably, the stolen funds were returned voluntarily by the developer without any ransom demands, mitigating the potential financial catastrophe.
Munchables’ recovery strategy includes a significant upgrade to its multisig (multiple signature) system, a critical component in the secure management of digital assets. The platform is incorporating new signers to its multisig from reputable entities like Manifold Trading, Selini Capital, and blockchain investigator ZachXBT. This move aims to enhance the security of user funds and prevent similar incidents in the future.
Moreover, the platform is undertaking a thorough reaudit of its smart contracts with the assistance of developers from Manifold Trading and Selini Capital. These efforts are set to culminate in the deployment of upgraded contracts, ensuring a fortified security framework. Additionally, Ethereum infrastructure firm Nethermind will conduct a further audit of these updated contracts, underscoring the platform’s commitment to rigorous security standards.
In the wake of the relaunch, Munchables has pledged to reward returning gamers with higher incentives, recognizing the community’s support during this challenging period. The platform also commits to providing financial support to those instrumental in the recovery process, demonstrating gratitude and acknowledging the collective effort in safeguarding the ecosystem.
The breach at Munchables underscores a broader challenge within the crypto ecosystem, which witnessed nearly $100 million in digital asset thefts in March alone. Despite the alarming frequency of such incidents, the recovery of over half of the stolen funds last month offers a glimmer of hope. Munchables’ proactive approach not only addresses the immediate concerns raised by the theft but also sets a precedent for how platforms can fortify their defenses and rebuild trust within their communities.
The Munchables incident serves as a stark reminder of the vulnerabilities inherent in the digital asset space. The platform’s comprehensive response, however, highlights a path forward for ensuring the security and resilience of the ecosystem, making it a noteworthy development in the ongoing effort to safeguard digital assets against theft.
The post Munchables Overhauls Security Measures and Development Team Following $68 Million Heist appeared first on Today NFT News.
Munchables takes decisive action with a security overhaul and smart contract reaudits after recovering stolen Ether, showcasing a commitment to user safety.
New multisig signers from top-tier firms join the fight to fortify Munchables against future threats, enhancing the security of the platform’s funds.
Rewarding loyalty and acknowledging community support, Munchables boosts rewards for returning gamers.
In a swift response to a recent security breach, Munchables, the Ethereum-based NFT gaming platform, has announced comprehensive measures to bolster its operational and contractual security. The incident, which saw over 17,400 Ether—valued at approximately $3,370 each—stolen by a rogue developer from within the organization, prompted an urgent overhaul of the platform’s security protocols. Remarkably, the stolen funds were returned voluntarily by the developer without any ransom demands, mitigating the potential financial catastrophe.
Munchables’ recovery strategy includes a significant upgrade to its multisig (multiple signature) system, a critical component in the secure management of digital assets. The platform is incorporating new signers to its multisig from reputable entities like Manifold Trading, Selini Capital, and blockchain investigator ZachXBT. This move aims to enhance the security of user funds and prevent similar incidents in the future.
Moreover, the platform is undertaking a thorough reaudit of its smart contracts with the assistance of developers from Manifold Trading and Selini Capital. These efforts are set to culminate in the deployment of upgraded contracts, ensuring a fortified security framework. Additionally, Ethereum infrastructure firm Nethermind will conduct a further audit of these updated contracts, underscoring the platform’s commitment to rigorous security standards.
In the wake of the relaunch, Munchables has pledged to reward returning gamers with higher incentives, recognizing the community’s support during this challenging period. The platform also commits to providing financial support to those instrumental in the recovery process, demonstrating gratitude and acknowledging the collective effort in safeguarding the ecosystem.
The breach at Munchables underscores a broader challenge within the crypto ecosystem, which witnessed nearly $100 million in digital asset thefts in March alone. Despite the alarming frequency of such incidents, the recovery of over half of the stolen funds last month offers a glimmer of hope. Munchables’ proactive approach not only addresses the immediate concerns raised by the theft but also sets a precedent for how platforms can fortify their defenses and rebuild trust within their communities.
The Munchables incident serves as a stark reminder of the vulnerabilities inherent in the digital asset space. The platform’s comprehensive response, however, highlights a path forward for ensuring the security and resilience of the ecosystem, making it a noteworthy development in the ongoing effort to safeguard digital assets against theft.
The post Munchables Overhauls Security Measures and Development Team Following $68 Million Heist appeared first on Today NFT News.
Nifty Island, an Ethereum-Based Game, Rolls Out a New Speedrun Challenge for NFT Rewards
SNEAK PEEK
Nifty Island introduces a new challenge that merges speedrunning with level design, rewarding top creators and players.
Winners can earn exclusive NFTs, including Palms, Ultra Blades, and Legendary Pistols, enhancing the gaming experience.
The event showcases the game’s commitment to community engagement and innovation, with detailed participation criteria available on their Discord.
Nifty Island, a notable game on the Ethereum blockchain that emphasizes user-generated content, has recently announced a significant event. The game is set to introduce a two-part speedrunning challenge titled “Break the Targets.” This new endeavor aims to engage both level creators and players, providing an opportunity to display their talents and secure rewards in the form of Non-Fungible Tokens (NFTs).
Ethereum Game 'Nifty Island' Launches Speedrun Challenge—How to Earn NFTs► https://t.co/cLzYb8k8HX https://t.co/cLzYb8k8HX
— GG (@ggDecrypt) March 29, 2024
The challenge begins with a creative phase over the weekend, where level creators are invited to craft unique courses based on the “Break the Targets” play mode. These courses are designed to test players’ abilities to complete runs as quickly as possible while targeting specific objectives. The community team will select the top three most inventive courses. These will serve as the arenas where players compete to establish record times.
The invitation extends until 4 pm EST on March 31, with participants required to share a video of their course on Twitter, utilizing the hashtag #Nifty. Following this, they must post their tweet on the “BTT-challenge” channel on Nifty Island‘s official Discord server. The evaluation criteria focus on visual appeal, enjoyment, and originality, with more information available through the Discord channel.
1/ It’s time to BREAK THE TARGETS!
Our new game mode “BREAK THE TARGETS” (BTT) just dropped! To celebrate its arrival, we’ve got a BIG challenge featuring some insane rewards, including Legendary Palms!
More details below. pic.twitter.com/VmFTuGeLsU
— Nifty Island (@Nifty_Island) March 29, 2024
Since its launch in January, Nifty Island has grown into a 3D social game where players can design islands, embark on quests, and earn NFTs through participation and airdrops. The platform supports cross-chain integration, incorporating Ethereum, Polygon, and Base, thus enhancing its accessibility and interoperability.
Rewards for the challenge are particularly enticing, including limited edition, tokenized in-game items such as Palms, Ultra Blades, and Legendary Pistols. These items are not only prestigious but also carry potential in-game advantages, especially as the game progresses toward the launch of the ISLAND token and continues its play-to-airdrop strategy.
The winners will receive distinct prizes based on their achievements. The creators of the top three courses will be awarded an Iron Palm, while the leading ten speedrunners will secure Bronze Palm, Iron Palm, and Ultra Blade for the first three places and Legendary Pistol for the other seven runners.
This initiative highlights Nifty Island’s commitment to fostering a vibrant community of creators and gamers. It encourages innovation and skill, offering tangible rewards for participation and excellence in a growing digital ecosystem.
The post Nifty Island, an Ethereum-Based Game, Rolls Out a New Speedrun Challenge for NFT Rewards appeared first on Today NFT News.
Nifty Island introduces a new challenge that merges speedrunning with level design, rewarding top creators and players.
Winners can earn exclusive NFTs, including Palms, Ultra Blades, and Legendary Pistols, enhancing the gaming experience.
The event showcases the game’s commitment to community engagement and innovation, with detailed participation criteria available on their Discord.
Nifty Island, a notable game on the Ethereum blockchain that emphasizes user-generated content, has recently announced a significant event. The game is set to introduce a two-part speedrunning challenge titled “Break the Targets.” This new endeavor aims to engage both level creators and players, providing an opportunity to display their talents and secure rewards in the form of Non-Fungible Tokens (NFTs).
Ethereum Game 'Nifty Island' Launches Speedrun Challenge—How to Earn NFTs► https://t.co/cLzYb8k8HX https://t.co/cLzYb8k8HX
— GG (@ggDecrypt) March 29, 2024
The challenge begins with a creative phase over the weekend, where level creators are invited to craft unique courses based on the “Break the Targets” play mode. These courses are designed to test players’ abilities to complete runs as quickly as possible while targeting specific objectives. The community team will select the top three most inventive courses. These will serve as the arenas where players compete to establish record times.
The invitation extends until 4 pm EST on March 31, with participants required to share a video of their course on Twitter, utilizing the hashtag #Nifty. Following this, they must post their tweet on the “BTT-challenge” channel on Nifty Island‘s official Discord server. The evaluation criteria focus on visual appeal, enjoyment, and originality, with more information available through the Discord channel.
1/ It’s time to BREAK THE TARGETS!
Our new game mode “BREAK THE TARGETS” (BTT) just dropped! To celebrate its arrival, we’ve got a BIG challenge featuring some insane rewards, including Legendary Palms!
More details below. pic.twitter.com/VmFTuGeLsU
— Nifty Island (@Nifty_Island) March 29, 2024
Since its launch in January, Nifty Island has grown into a 3D social game where players can design islands, embark on quests, and earn NFTs through participation and airdrops. The platform supports cross-chain integration, incorporating Ethereum, Polygon, and Base, thus enhancing its accessibility and interoperability.
Rewards for the challenge are particularly enticing, including limited edition, tokenized in-game items such as Palms, Ultra Blades, and Legendary Pistols. These items are not only prestigious but also carry potential in-game advantages, especially as the game progresses toward the launch of the ISLAND token and continues its play-to-airdrop strategy.
The winners will receive distinct prizes based on their achievements. The creators of the top three courses will be awarded an Iron Palm, while the leading ten speedrunners will secure Bronze Palm, Iron Palm, and Ultra Blade for the first three places and Legendary Pistol for the other seven runners.
This initiative highlights Nifty Island’s commitment to fostering a vibrant community of creators and gamers. It encourages innovation and skill, offering tangible rewards for participation and excellence in a growing digital ecosystem.
The post Nifty Island, an Ethereum-Based Game, Rolls Out a New Speedrun Challenge for NFT Rewards appeared first on Today NFT News.
Logan Paul Defends CryptoZoo Project As Not a Scam in Latest Documentary
SNEAK PEEK
Logan Paul discusses the challenges and personal impact of the CryptoZoo project, emphasizing it wasn’t a scam but beyond his capability.
Paul highlights his financial loss and the emotional toll, including suicidal thoughts, while pledging to support affected investors.
The documentary delves into legal battles and the class-action lawsuit, offering a multifaceted view of Paul’s endeavors to address the issue.
In a revealing new documentary, Logan Paul addresses the controversy surrounding his CryptoZoo project, arguing that it was not a deliberate scam but rather a venture that exceeded his managerial capabilities at the time. The film, titled “5 Months with Logan Paul,” features a candid discussion between Paul and journalist Graham Bensinger, focusing on the backlash and financial losses faced by investors.
Throughout the documentary, Paul emphasizes his lack of profit from the venture, stating his financial loss of half a million dollars as evidence against the scam allegations. He candidly shares the personal toll the project took on him, including experiencing suicidal thoughts, which marks a significant emotional revelation from the internet personality.
Its been a big few days in NAWOT world.After 2 years #LoganPaul finally refunded my .3 ETH for the #CryptoZoo eggs (.1 ETH per egg), I am not sure how many others received it (less than 50% of holders I hear). I still lost around 10k of the tokens haha @coffeebreak_YT
— NAWOT (@NawotCom) March 28, 2024
Despite the turmoil, Paul remains committed to rectifying the situation, highlighting his efforts to implement a $1.5 million recovery plan for those affected. This initiative, however, comes with a stipulation requiring participants to forgo any current or future legal claims against him, a condition that has sparked further discussion among the community and stakeholders.
The documentary also touches upon Paul’s legal confrontations with critics, notably his retracted threats of action against YouTube journalist Stephen Findeisen, known as Coffeezilla, who had scrutinized the CryptoZoo project. This aspect of the story underscores the ongoing battle between public perception and Paul’s narrative.
The class-action lawsuit filed by disgruntled investors in February 2023 adds another layer to the saga, accusing Paul and CryptoZoo of conducting a rug pull – a term used to describe a situation where developers abandon a project and abscond with investors’ funds. This legal move indicates the severity of the accusations and the broader implications for the cryptocurrency and NFT markets.
The conclusion of the documentary leaves viewers with a nuanced view of the situation, shedding light on the complexities of managing high-stakes projects in the volatile world of digital assets. Paul’s acknowledgment of his shortcomings and his steps towards amends offer a glimpse into the challenges faced by influencers venturing into the entrepreneurial arena, setting a precedent for accountability and responsibility in the digital age.
The post Logan Paul Defends CryptoZoo Project as Not a Scam in Latest Documentary appeared first on Today NFT News.
Logan Paul discusses the challenges and personal impact of the CryptoZoo project, emphasizing it wasn’t a scam but beyond his capability.
Paul highlights his financial loss and the emotional toll, including suicidal thoughts, while pledging to support affected investors.
The documentary delves into legal battles and the class-action lawsuit, offering a multifaceted view of Paul’s endeavors to address the issue.
In a revealing new documentary, Logan Paul addresses the controversy surrounding his CryptoZoo project, arguing that it was not a deliberate scam but rather a venture that exceeded his managerial capabilities at the time. The film, titled “5 Months with Logan Paul,” features a candid discussion between Paul and journalist Graham Bensinger, focusing on the backlash and financial losses faced by investors.
Throughout the documentary, Paul emphasizes his lack of profit from the venture, stating his financial loss of half a million dollars as evidence against the scam allegations. He candidly shares the personal toll the project took on him, including experiencing suicidal thoughts, which marks a significant emotional revelation from the internet personality.
Its been a big few days in NAWOT world.After 2 years #LoganPaul finally refunded my .3 ETH for the #CryptoZoo eggs (.1 ETH per egg), I am not sure how many others received it (less than 50% of holders I hear). I still lost around 10k of the tokens haha @coffeebreak_YT
— NAWOT (@NawotCom) March 28, 2024
Despite the turmoil, Paul remains committed to rectifying the situation, highlighting his efforts to implement a $1.5 million recovery plan for those affected. This initiative, however, comes with a stipulation requiring participants to forgo any current or future legal claims against him, a condition that has sparked further discussion among the community and stakeholders.
The documentary also touches upon Paul’s legal confrontations with critics, notably his retracted threats of action against YouTube journalist Stephen Findeisen, known as Coffeezilla, who had scrutinized the CryptoZoo project. This aspect of the story underscores the ongoing battle between public perception and Paul’s narrative.
The class-action lawsuit filed by disgruntled investors in February 2023 adds another layer to the saga, accusing Paul and CryptoZoo of conducting a rug pull – a term used to describe a situation where developers abandon a project and abscond with investors’ funds. This legal move indicates the severity of the accusations and the broader implications for the cryptocurrency and NFT markets.
The conclusion of the documentary leaves viewers with a nuanced view of the situation, shedding light on the complexities of managing high-stakes projects in the volatile world of digital assets. Paul’s acknowledgment of his shortcomings and his steps towards amends offer a glimpse into the challenges faced by influencers venturing into the entrepreneurial arena, setting a precedent for accountability and responsibility in the digital age.
The post Logan Paul Defends CryptoZoo Project as Not a Scam in Latest Documentary appeared first on Today NFT News.
Azuki NFT Teams Up With Arbitrum to Create Global Anime Network
SNEAK PEEK
Azuki NFT collaborates with Arbitrum to introduce a groundbreaking anime network, aiming to transform how fans enjoy anime globally.
Leveraging advanced blockchain technology, the partnership seeks to merge anime content, games, merchandise, and NFTs into a unified ecosystem.
This strategic alliance responds to the fragmented online experiences of anime enthusiasts, promising a cohesive and immersive platform for fans and creators alike.
In a strategic move that bridges the gap between blockchain technology and the anime industry, the Arbitrum Foundation has partnered with Azuki and the Web3 Foundation. This partnership aims to launch AnimeChain, a web3 network dedicated to enhancing the global anime experience. AnimeChain promises to unify anime content, games, merchandise, and NFTs into one comprehensive ecosystem. Leveraging Arbitrum’s advanced blockchain technology, the platform seeks to transform how fans engage with both original and licensed anime content.
The initiative follows the Arbitrum Foundation’s recent announcement of a significant investment in gaming. With a 200 million ARB fund, approximately valued at $344 million, the foundation plans to support gaming projects on their blockchain over the next two years. Additionally, the foundation has committed to financing a feature film produced by Oscar-winner Shane Boris.
AnimeChain’s development responds to the fragmented experiences many anime fans encounter online. With the global anime market projected to exceed $60 billion by 2030, this collaboration targets a rapidly expanding segment of the entertainment industry. Zagabond, CEO of Azuki, expressed enthusiasm for the project, emphasizing the platform’s innovative approach to anime IP creation and consumption.
Created by Los Angeles-based Chiru Labs, Azuki, together with the Web3 Foundation, aims to revolutionize the anime experience. This collaboration not only heralds technological advancements but also empowers creators and fans to play a more significant role in the anime ecosystem. As a result, AnimeChain stands as a potential landmark in the fusion of anime and web3 industries.
In conclusion, the partnership between the Arbitrum Foundation, Azuki, and the Weeb3 Foundation marks a pivotal moment for the anime and blockchain communities. By creating a unified platform that enriches the anime experience worldwide, AnimeChain sets the stage for a new era of engagement and interaction within the global anime market.
The post Azuki NFT Teams Up with Arbitrum to Create Global Anime Network appeared first on Today NFT News.
Azuki NFT collaborates with Arbitrum to introduce a groundbreaking anime network, aiming to transform how fans enjoy anime globally.
Leveraging advanced blockchain technology, the partnership seeks to merge anime content, games, merchandise, and NFTs into a unified ecosystem.
This strategic alliance responds to the fragmented online experiences of anime enthusiasts, promising a cohesive and immersive platform for fans and creators alike.
In a strategic move that bridges the gap between blockchain technology and the anime industry, the Arbitrum Foundation has partnered with Azuki and the Web3 Foundation. This partnership aims to launch AnimeChain, a web3 network dedicated to enhancing the global anime experience. AnimeChain promises to unify anime content, games, merchandise, and NFTs into one comprehensive ecosystem. Leveraging Arbitrum’s advanced blockchain technology, the platform seeks to transform how fans engage with both original and licensed anime content.
The initiative follows the Arbitrum Foundation’s recent announcement of a significant investment in gaming. With a 200 million ARB fund, approximately valued at $344 million, the foundation plans to support gaming projects on their blockchain over the next two years. Additionally, the foundation has committed to financing a feature film produced by Oscar-winner Shane Boris.
AnimeChain’s development responds to the fragmented experiences many anime fans encounter online. With the global anime market projected to exceed $60 billion by 2030, this collaboration targets a rapidly expanding segment of the entertainment industry. Zagabond, CEO of Azuki, expressed enthusiasm for the project, emphasizing the platform’s innovative approach to anime IP creation and consumption.
Created by Los Angeles-based Chiru Labs, Azuki, together with the Web3 Foundation, aims to revolutionize the anime experience. This collaboration not only heralds technological advancements but also empowers creators and fans to play a more significant role in the anime ecosystem. As a result, AnimeChain stands as a potential landmark in the fusion of anime and web3 industries.
In conclusion, the partnership between the Arbitrum Foundation, Azuki, and the Weeb3 Foundation marks a pivotal moment for the anime and blockchain communities. By creating a unified platform that enriches the anime experience worldwide, AnimeChain sets the stage for a new era of engagement and interaction within the global anime market.
The post Azuki NFT Teams Up with Arbitrum to Create Global Anime Network appeared first on Today NFT News.
Elon Musk Spotlights Ethereum Co-Founder Vitalik Buterin
SNEAK PEEK
Elon Musk questions Vitalik Buterin’s departure from X, sparking widespread discussion.
Autism Capital urges Buterin’s return to X to leverage his influence for Ethereum’s benefit.
The debate highlights the strategic importance of platform choice in the digital culture war.
In a recent online discourse, the spotlight turned to Ethereum co-founder Vitalik Buterin and his social media preferences, igniting discussions that reached the desk of tech mogul Elon Musk. Amidst the digital chatter, Musk raised a question that echoed the sentiments of many: “Why did Vitalik Buterin leave X?” This inquiry followed a push from Autism Capital, advocating for Buterin’s return to the platform, amidst his noticeable shift to Farcaster—a burgeoning hub for cryptocurrency enthusiasts and a platform praised by Buterin himself for its utility and innovation as a Twitter alternative.
Vitalik needs to get back on X. Farcaster isn’t going to win the culture war. If he wants Ethereum to shine he should engage more on this platform, not sequester himself with his chosen peers on an island. He will have far more impact if he engages the bigger community here.
— Autism Capital (@AutismCapital) March 25, 2024
Farcaster, gaining traction within the crypto community, has been lauded by Buterin for its unique channels that, in his view, surpass Twitter in several aspects. Despite his endorsement, Autism Capital’s plea highlights a broader concern: the battle for cultural dominance online and the strategic importance of platforms with massive followings. With Buterin’s follower count on X towering at 5.2 million, compared to his 180,000 on Farcaster, the call for his return underscores a strategy to leverage his substantial influence to further elevate Ethereum’s visibility and engagement within the larger digital community.
The conversation, sparked by Musk’s simple yet profound question, reflects the ongoing debate about the role of social media in shaping the narrative and adoption of technologies like Ethereum. Moreover, it points to the evolving landscape of online communities, where platforms like Farcaster emerge as contenders, challenging established giants by offering specialized spaces for niche audiences.
This unfolding story brings to the forefront the dynamics of online influence, the strategic choices of tech leaders in engaging with their audiences, and the continuous evolution of digital platforms. As the dialogue continues, it remains to be seen how these interactions will influence the visibility and adoption of technologies like Ethereum, and whether voices like Buterin’s will shift the tides in the so-called culture wars of the digital age.
The exchange between Musk and the crypto community not only highlights Buterin’s strategic online presence but also underscores the shifting sands of digital engagement and influence. As platforms vie for the attention of influential figures like Buterin, the crypto world watches closely, recognizing the power of social media in shaping the future of technology.
The post Elon Musk Spotlights Ethereum Co-Founder Vitalik Buterin appeared first on Today NFT News.
Elon Musk questions Vitalik Buterin’s departure from X, sparking widespread discussion.
Autism Capital urges Buterin’s return to X to leverage his influence for Ethereum’s benefit.
The debate highlights the strategic importance of platform choice in the digital culture war.
In a recent online discourse, the spotlight turned to Ethereum co-founder Vitalik Buterin and his social media preferences, igniting discussions that reached the desk of tech mogul Elon Musk. Amidst the digital chatter, Musk raised a question that echoed the sentiments of many: “Why did Vitalik Buterin leave X?” This inquiry followed a push from Autism Capital, advocating for Buterin’s return to the platform, amidst his noticeable shift to Farcaster—a burgeoning hub for cryptocurrency enthusiasts and a platform praised by Buterin himself for its utility and innovation as a Twitter alternative.
Vitalik needs to get back on X. Farcaster isn’t going to win the culture war. If he wants Ethereum to shine he should engage more on this platform, not sequester himself with his chosen peers on an island. He will have far more impact if he engages the bigger community here.
— Autism Capital (@AutismCapital) March 25, 2024
Farcaster, gaining traction within the crypto community, has been lauded by Buterin for its unique channels that, in his view, surpass Twitter in several aspects. Despite his endorsement, Autism Capital’s plea highlights a broader concern: the battle for cultural dominance online and the strategic importance of platforms with massive followings. With Buterin’s follower count on X towering at 5.2 million, compared to his 180,000 on Farcaster, the call for his return underscores a strategy to leverage his substantial influence to further elevate Ethereum’s visibility and engagement within the larger digital community.
The conversation, sparked by Musk’s simple yet profound question, reflects the ongoing debate about the role of social media in shaping the narrative and adoption of technologies like Ethereum. Moreover, it points to the evolving landscape of online communities, where platforms like Farcaster emerge as contenders, challenging established giants by offering specialized spaces for niche audiences.
This unfolding story brings to the forefront the dynamics of online influence, the strategic choices of tech leaders in engaging with their audiences, and the continuous evolution of digital platforms. As the dialogue continues, it remains to be seen how these interactions will influence the visibility and adoption of technologies like Ethereum, and whether voices like Buterin’s will shift the tides in the so-called culture wars of the digital age.
The exchange between Musk and the crypto community not only highlights Buterin’s strategic online presence but also underscores the shifting sands of digital engagement and influence. As platforms vie for the attention of influential figures like Buterin, the crypto world watches closely, recognizing the power of social media in shaping the future of technology.
The post Elon Musk Spotlights Ethereum Co-Founder Vitalik Buterin appeared first on Today NFT News.
Indonesian Selfie Sensation Secures $1.8M in NFT Memecoin Triumph
SNEAK PEEK
Sultan Gustaf Al Ghozali raises $1.8 million in a groundbreaking memecoin presale, signaling a strong return to the crypto scene.
The presale quickly exceeded its target, showcasing the crypto community’s support and enthusiasm for Ghozali’s unique blend of memecoins and NFTs.
Amidst a resurgent interest in memecoins, Ghozali’s project highlights the speculative dynamics of the market and the potential for significant financial gains.
Sultan Gustaf Al Ghozali, an Indonesian college graduate famed for earning a significant sum by selling his daily selfie non-fungible tokens (NFTs) on OpenSea, has once again captured the crypto community’s attention. This time, he achieved a remarkable milestone by raising $1.8 million through a memecoin presale, signaling a notable comeback.
The presale for Ghozali’s latest project, a hybrid of memecoin and NFT on the Base blockchain, quickly surpassed its goal, amassing 527 ETH, equivalent to around $1.8 million. Ghozali assured his followers on X that contributions exceeding the presale cap would be refunded, demonstrating his commitment to fairness in this new venture.
Just took the last selfie when I graduated from college and finally i can stop this doing this shit almost every day
6 years taking selfies every day is the stupidest idea I ever came up with, but luckily I can make money from it pic.twitter.com/qftRH6WRua
— Ghozali (@Ghozali_Ghozalu) August 24, 2023
The resurgence of interest in memecoins, sparked by the recent uptick in Bitcoin prices, finds traders and investors alike drawn to the speculative allure of these digital assets. The frenzy is not confined to Ghozali’s venture; the broader crypto market has witnessed a surge in activity, especially within the Solana network, where memecoin presales have garnered substantial sums in a matter of days. This trend underscores the speculative nature of the crypto market, with Solana traders leading the charge in what some community members describe as a peak in speculative trading.
Furthermore, the crypto exchange Coinbase’s layer-2 network, Base, has seen its total value locked double as the platform emerges as a new hub for memecoin activity. This shift suggests that after the buzz around Solana’s memecoin projects, the spotlight may soon turn to Base’s layer-2 network, potentially sparking a new wave of investment and speculation.
Despite the excitement, caution remains a theme among financial experts. Notably, asset manager Franklin Templeton issued a warning about the inherent risks associated with memecoins, emphasizing their lack of fundamental value or utility. Nevertheless, the potential for rapid gains keeps the interest alive, with both investors and observers closely watching the evolving landscape.
Sultan Gustaf Al Ghozali’s successful memecoin presale not only marks a significant achievement for the young entrepreneur but also highlights the continued fascination with memecoins within the crypto community. As the market navigates through speculative trends and emerging opportunities, the story of Ghozali and his innovative ventures serves as a testament to the dynamic and unpredictable nature of the cryptocurrency world.
The post Indonesian Selfie Sensation Secures $1.8M in NFT Memecoin Triumph appeared first on Today NFT News.
Sultan Gustaf Al Ghozali raises $1.8 million in a groundbreaking memecoin presale, signaling a strong return to the crypto scene.
The presale quickly exceeded its target, showcasing the crypto community’s support and enthusiasm for Ghozali’s unique blend of memecoins and NFTs.
Amidst a resurgent interest in memecoins, Ghozali’s project highlights the speculative dynamics of the market and the potential for significant financial gains.
Sultan Gustaf Al Ghozali, an Indonesian college graduate famed for earning a significant sum by selling his daily selfie non-fungible tokens (NFTs) on OpenSea, has once again captured the crypto community’s attention. This time, he achieved a remarkable milestone by raising $1.8 million through a memecoin presale, signaling a notable comeback.
The presale for Ghozali’s latest project, a hybrid of memecoin and NFT on the Base blockchain, quickly surpassed its goal, amassing 527 ETH, equivalent to around $1.8 million. Ghozali assured his followers on X that contributions exceeding the presale cap would be refunded, demonstrating his commitment to fairness in this new venture.
Just took the last selfie when I graduated from college and finally i can stop this doing this shit almost every day
6 years taking selfies every day is the stupidest idea I ever came up with, but luckily I can make money from it pic.twitter.com/qftRH6WRua
— Ghozali (@Ghozali_Ghozalu) August 24, 2023
The resurgence of interest in memecoins, sparked by the recent uptick in Bitcoin prices, finds traders and investors alike drawn to the speculative allure of these digital assets. The frenzy is not confined to Ghozali’s venture; the broader crypto market has witnessed a surge in activity, especially within the Solana network, where memecoin presales have garnered substantial sums in a matter of days. This trend underscores the speculative nature of the crypto market, with Solana traders leading the charge in what some community members describe as a peak in speculative trading.
Furthermore, the crypto exchange Coinbase’s layer-2 network, Base, has seen its total value locked double as the platform emerges as a new hub for memecoin activity. This shift suggests that after the buzz around Solana’s memecoin projects, the spotlight may soon turn to Base’s layer-2 network, potentially sparking a new wave of investment and speculation.
Despite the excitement, caution remains a theme among financial experts. Notably, asset manager Franklin Templeton issued a warning about the inherent risks associated with memecoins, emphasizing their lack of fundamental value or utility. Nevertheless, the potential for rapid gains keeps the interest alive, with both investors and observers closely watching the evolving landscape.
Sultan Gustaf Al Ghozali’s successful memecoin presale not only marks a significant achievement for the young entrepreneur but also highlights the continued fascination with memecoins within the crypto community. As the market navigates through speculative trends and emerging opportunities, the story of Ghozali and his innovative ventures serves as a testament to the dynamic and unpredictable nature of the cryptocurrency world.
The post Indonesian Selfie Sensation Secures $1.8M in NFT Memecoin Triumph appeared first on Today NFT News.
March Sees Another $16M Sale in the CryptoPunks NFT Collection
SNEAK PEEK
March witnessed a remarkable $16 million transaction in the CryptoPunks collection, marking a significant moment in NFT history.
The rare CryptoPunk #7804, featuring unique attributes, commanded this impressive sum, reinforcing its value among digital collectibles.
This sale not only demonstrates the collection’s strong market presence but also contributes to a vibrant period of activity in the NFT sector.
In the bustling world of digital art and cryptocurrency, the CryptoPunks collection once again makes headlines with a monumental sale. This March, CryptoPunk #7804 fetched a staggering 4,850 ETH, which translated to approximately $16.4 million at the point of transaction. This sale not only underscores the vibrant activity in the NFT marketplace but also marks it as the second-largest price ever paid for a CryptoPunk piece.
Earlier in the same month, another piece from the collection, CryptoPunk #3100, was sold for 4,500 ETH, rounding up to about $16 million. This places it as the third-highest sale within the collection, just after the sale of #7804. These two significant transactions have propelled CryptoPunks back into the spotlight, highlighting the enduring value and appeal of these digital collectibles.
End of an era. I've long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.
After over a year of looking around I feel I've found the right buyer with the right vision to appropriately elevate this asset https://t.co/onngtTumrJ
— Peruggia (@peruggia_v) March 20, 2024
The allure of CryptoPunk #7804 lies in its unique attributes, distinguishing it from the rest of the 10,000 pieces in the collection. It features a forward-facing cap, a pipe, and small shades, attributes that are rare within the entire collection. However, its most valuable trait is its identity as one of only nine alien CryptoPunks, adding to its rarity and desirability among collectors.
The seller, known as Peruggia, shared reflections on the sale, marking it as a poignant moment and an “end of an era.” Having acquired the NFT in March 2021 for 4,200 ETH (worth $7.5 million at the time), Peruggia’s decision to hold onto the asset, despite a substantial offer of around $18 million in 2022, speaks volumes about the perceived value and potential of these digital assets.
This transaction, alongside the sale of CryptoPunk #3100, has significantly contributed to the collection’s sales volume, outpacing other popular NFTs in weekly sales figures. According to CryptoSlam, a leading NFT data tracker, CryptoPunks recorded $21.5 million in sales over the last seven days. Moreover, the NFT market as a whole has witnessed a surge in activity, with a reported $1.5 billion in sales volume across various blockchain networks in the past 30 days.
The substantial sales of CryptoPunk #7804 and #3100 underscore the vibrant and dynamic nature of the NFT market. As collectors and investors continue to seek out rare and valuable digital assets, the trajectory of NFT sales and the broader blockchain ecosystem remains a keen area of interest for many.
The post March Sees Another $16M Sale in the CryptoPunks NFT Collection appeared first on Today NFT News.
March witnessed a remarkable $16 million transaction in the CryptoPunks collection, marking a significant moment in NFT history.
The rare CryptoPunk #7804, featuring unique attributes, commanded this impressive sum, reinforcing its value among digital collectibles.
This sale not only demonstrates the collection’s strong market presence but also contributes to a vibrant period of activity in the NFT sector.
In the bustling world of digital art and cryptocurrency, the CryptoPunks collection once again makes headlines with a monumental sale. This March, CryptoPunk #7804 fetched a staggering 4,850 ETH, which translated to approximately $16.4 million at the point of transaction. This sale not only underscores the vibrant activity in the NFT marketplace but also marks it as the second-largest price ever paid for a CryptoPunk piece.
Earlier in the same month, another piece from the collection, CryptoPunk #3100, was sold for 4,500 ETH, rounding up to about $16 million. This places it as the third-highest sale within the collection, just after the sale of #7804. These two significant transactions have propelled CryptoPunks back into the spotlight, highlighting the enduring value and appeal of these digital collectibles.
End of an era. I've long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves.
After over a year of looking around I feel I've found the right buyer with the right vision to appropriately elevate this asset https://t.co/onngtTumrJ
— Peruggia (@peruggia_v) March 20, 2024
The allure of CryptoPunk #7804 lies in its unique attributes, distinguishing it from the rest of the 10,000 pieces in the collection. It features a forward-facing cap, a pipe, and small shades, attributes that are rare within the entire collection. However, its most valuable trait is its identity as one of only nine alien CryptoPunks, adding to its rarity and desirability among collectors.
The seller, known as Peruggia, shared reflections on the sale, marking it as a poignant moment and an “end of an era.” Having acquired the NFT in March 2021 for 4,200 ETH (worth $7.5 million at the time), Peruggia’s decision to hold onto the asset, despite a substantial offer of around $18 million in 2022, speaks volumes about the perceived value and potential of these digital assets.
This transaction, alongside the sale of CryptoPunk #3100, has significantly contributed to the collection’s sales volume, outpacing other popular NFTs in weekly sales figures. According to CryptoSlam, a leading NFT data tracker, CryptoPunks recorded $21.5 million in sales over the last seven days. Moreover, the NFT market as a whole has witnessed a surge in activity, with a reported $1.5 billion in sales volume across various blockchain networks in the past 30 days.
The substantial sales of CryptoPunk #7804 and #3100 underscore the vibrant and dynamic nature of the NFT market. As collectors and investors continue to seek out rare and valuable digital assets, the trajectory of NFT sales and the broader blockchain ecosystem remains a keen area of interest for many.
The post March Sees Another $16M Sale in the CryptoPunks NFT Collection appeared first on Today NFT News.
Magmic Unveils New MLB-licensed Idle Tycoon Game With Web3 Integration
SNEAK PEEK
Magmic announces a groundbreaking MLB-licensed idle tycoon game at the Game Developers Conference, offering a fresh take on sports gaming.
The game promises a unique blend of building and expanding MLB ballparks with the strategic depth of player trading, supported by both MLB and MLB Players Association licenses.
With a focus on accessible gameplay for both Web3 enthusiasts and traditional gamers, Magmic sets a new standard in the integration of digital asset technology and traditional gaming enjoyment.
Magmic, a renowned mobile gaming firm, has taken a significant step into the future of gaming by announcing a new venture at the Game Developers Conference in San Francisco. The company revealed its plans for a mobile and browser-based game under the Major League Baseball (MLB) license, marking a significant expansion into Web3, NFTs, and blockchain-based gaming. This innovative project promises to blend traditional gaming with the latest in digital asset technology.
The yet-to-be-named game falls into the “idle tycoon” genre, allowing players to craft and evolve their own baseball stadium experiences. Notably, the game has secured both MLB and MLB Players Association licenses, underscoring its authentic engagement with the baseball world. According to Magmic CEO Mo Agha, the game will enable players to build their dream MLB ballparks and engage in player trading, enhancing the strategic depth of the gameplay.
Since its inception in 2002, Magmic has made a name for itself, especially with its breakthrough titles for Blackberry, including the Texas Hold’ Em King franchise. With over 250 million downloads and a player base in the millions, the company’s success story is notable. Its portfolio includes games based on significant intellectual properties, such as a ChatGPT-powered version of Hasbro’s Scattergories and a real-money rummy game featuring the UFC license.
The forthcoming MLB-licensed game is designed to cater to both Web3 enthusiasts and traditional gamers. It supports gameplay that does not necessitate participation in the monetized, asset-based features of Web3, allowing a wider audience to enjoy the game. Mo Agha emphasized the game’s dual nature, promising an engaging, easy-to-play experience that also leverages player-to-player marketplaces and in-game player ownership through Web3 technology.
This move by Magmic represents a strategic blend of traditional gaming with the emerging trends of digital asset ownership and blockchain technology. It underscores the company’s commitment to innovation and its vision to redefine gaming experiences in the Web3 era.
Magmic’s announcement not only highlights its ongoing evolution but also signals the broader shifts occurring in the gaming industry, where the integration of Web3 technologies is becoming increasingly prominent. This venture into MLB-themed gaming is poised to offer fans and gamers alike a unique blend of traditional enjoyment and the cutting-edge benefits of digital asset ownership.
The post Magmic Unveils New MLB-licensed Idle Tycoon Game with Web3 Integration appeared first on Today NFT News.
Magmic announces a groundbreaking MLB-licensed idle tycoon game at the Game Developers Conference, offering a fresh take on sports gaming.
The game promises a unique blend of building and expanding MLB ballparks with the strategic depth of player trading, supported by both MLB and MLB Players Association licenses.
With a focus on accessible gameplay for both Web3 enthusiasts and traditional gamers, Magmic sets a new standard in the integration of digital asset technology and traditional gaming enjoyment.
Magmic, a renowned mobile gaming firm, has taken a significant step into the future of gaming by announcing a new venture at the Game Developers Conference in San Francisco. The company revealed its plans for a mobile and browser-based game under the Major League Baseball (MLB) license, marking a significant expansion into Web3, NFTs, and blockchain-based gaming. This innovative project promises to blend traditional gaming with the latest in digital asset technology.
The yet-to-be-named game falls into the “idle tycoon” genre, allowing players to craft and evolve their own baseball stadium experiences. Notably, the game has secured both MLB and MLB Players Association licenses, underscoring its authentic engagement with the baseball world. According to Magmic CEO Mo Agha, the game will enable players to build their dream MLB ballparks and engage in player trading, enhancing the strategic depth of the gameplay.
Since its inception in 2002, Magmic has made a name for itself, especially with its breakthrough titles for Blackberry, including the Texas Hold’ Em King franchise. With over 250 million downloads and a player base in the millions, the company’s success story is notable. Its portfolio includes games based on significant intellectual properties, such as a ChatGPT-powered version of Hasbro’s Scattergories and a real-money rummy game featuring the UFC license.
The forthcoming MLB-licensed game is designed to cater to both Web3 enthusiasts and traditional gamers. It supports gameplay that does not necessitate participation in the monetized, asset-based features of Web3, allowing a wider audience to enjoy the game. Mo Agha emphasized the game’s dual nature, promising an engaging, easy-to-play experience that also leverages player-to-player marketplaces and in-game player ownership through Web3 technology.
This move by Magmic represents a strategic blend of traditional gaming with the emerging trends of digital asset ownership and blockchain technology. It underscores the company’s commitment to innovation and its vision to redefine gaming experiences in the Web3 era.
Magmic’s announcement not only highlights its ongoing evolution but also signals the broader shifts occurring in the gaming industry, where the integration of Web3 technologies is becoming increasingly prominent. This venture into MLB-themed gaming is poised to offer fans and gamers alike a unique blend of traditional enjoyment and the cutting-edge benefits of digital asset ownership.
The post Magmic Unveils New MLB-licensed Idle Tycoon Game with Web3 Integration appeared first on Today NFT News.
BlackRock Gains Memecoins and NFTs Following $100M USDC On-chain Deposit
SNEAK PEEK
BlackRock’s venture into digital assets highlighted by a significant Ethereum deposit and the acquisition of diverse cryptocurrencies and NFTs.
The firm’s evolving stance on blockchain and digital currencies marks a significant shift, with efforts now focused on asset tokenization.
Through “BUIDL,” BlackRock aims to bridge traditional finance and digital assets, setting a new precedent in the asset management industry.
BlackRock, the financial behemoth with a portfolio exceeding $10 trillion, recently ventured into the dynamic world of digital assets in a manner that’s catching everyone’s attention. Following a substantial $100 million deposit into Ethereum, the firm’s associated wallet began receiving an eclectic mix of digital assets, including memecoins and NFTs, marking a bold stride into cryptocurrency tokenization.
Look at the shitcoins that have been sent to @BlackRock 's 100m $USDC @ethereum wallet https://t.co/USePJM6Cus pic.twitter.com/2xz6MJvETy
— MartyParty (@martypartymusic) March 20, 2024
Observers took note as the wallet, tied to BlackRock’s pioneering tokenization fund, saw inflows of diverse assets. This included the Bitcoin-based Ordinals Pepe coin and the CryptoDickbutts S3 NFT, alongside 500,000 unshETHing_Token and 10,000 Realio Network tokens, cumulatively valued at over $25,000. Particularly notable was the surge in the Realio Network token, which jumped 47% post-transfer, showcasing the market’s reaction to BlackRock’s involvement.
Moreover, the wallet received other digital assets like Mog Coin and Shina Inu, underscoring the wide-ranging interest from the crypto community. This gesture from unnamed crypto users since March 19 highlights the sector’s curiosity and possibly its endorsement of traditional financial giants stepping into the digital asset space.
BlackRock’s journey into digital assets has evolved significantly from skepticism to active participation. Larry Fink, the firm’s CEO, has publicly shifted his stance on Bitcoin and blockchain, reflecting a broader institutional warming to the potential of digital currencies and tokenization. This transition is underscored by BlackRock’s successful filing for a spot Bitcoin ETF in June 2023, capturing significant market volumes.
The firm’s latest venture, the BlackRock USD Institutional Digital Liquidity Fund, codenamed “BUIDL,” represents a bridge between traditional finance and the burgeoning world of digital assets. Through a partnership with Securitize, the fund aims to offer dollar yields on digital subscriptions, aligning with Fink’s vision of a future where financial assets are universally tokenized on ledgers.
This move by BlackRock not only signals its adaptation to the digital age but also potentially sets a precedent for asset management firms globally. The firm’s entry into digital assets via Ethereum deposits and the ensuing reception of diverse tokens and NFTs showcase the evolving interplay between traditional finance and cryptocurrency, highlighting the industry’s ever-expanding boundaries.
In conclusion, BlackRock’s foray into cryptocurrency and asset tokenization marks a significant moment in the integration of traditional finance with the digital asset space, showcasing a forward-thinking approach to investment and asset management in the digital age.
The post BlackRock Gains Memecoins and NFTs Following $100M USDC On-chain Deposit appeared first on Today NFT News.
BlackRock’s venture into digital assets highlighted by a significant Ethereum deposit and the acquisition of diverse cryptocurrencies and NFTs.
The firm’s evolving stance on blockchain and digital currencies marks a significant shift, with efforts now focused on asset tokenization.
Through “BUIDL,” BlackRock aims to bridge traditional finance and digital assets, setting a new precedent in the asset management industry.
BlackRock, the financial behemoth with a portfolio exceeding $10 trillion, recently ventured into the dynamic world of digital assets in a manner that’s catching everyone’s attention. Following a substantial $100 million deposit into Ethereum, the firm’s associated wallet began receiving an eclectic mix of digital assets, including memecoins and NFTs, marking a bold stride into cryptocurrency tokenization.
Look at the shitcoins that have been sent to @BlackRock 's 100m $USDC @ethereum wallet https://t.co/USePJM6Cus pic.twitter.com/2xz6MJvETy
— MartyParty (@martypartymusic) March 20, 2024
Observers took note as the wallet, tied to BlackRock’s pioneering tokenization fund, saw inflows of diverse assets. This included the Bitcoin-based Ordinals Pepe coin and the CryptoDickbutts S3 NFT, alongside 500,000 unshETHing_Token and 10,000 Realio Network tokens, cumulatively valued at over $25,000. Particularly notable was the surge in the Realio Network token, which jumped 47% post-transfer, showcasing the market’s reaction to BlackRock’s involvement.
Moreover, the wallet received other digital assets like Mog Coin and Shina Inu, underscoring the wide-ranging interest from the crypto community. This gesture from unnamed crypto users since March 19 highlights the sector’s curiosity and possibly its endorsement of traditional financial giants stepping into the digital asset space.
BlackRock’s journey into digital assets has evolved significantly from skepticism to active participation. Larry Fink, the firm’s CEO, has publicly shifted his stance on Bitcoin and blockchain, reflecting a broader institutional warming to the potential of digital currencies and tokenization. This transition is underscored by BlackRock’s successful filing for a spot Bitcoin ETF in June 2023, capturing significant market volumes.
The firm’s latest venture, the BlackRock USD Institutional Digital Liquidity Fund, codenamed “BUIDL,” represents a bridge between traditional finance and the burgeoning world of digital assets. Through a partnership with Securitize, the fund aims to offer dollar yields on digital subscriptions, aligning with Fink’s vision of a future where financial assets are universally tokenized on ledgers.
This move by BlackRock not only signals its adaptation to the digital age but also potentially sets a precedent for asset management firms globally. The firm’s entry into digital assets via Ethereum deposits and the ensuing reception of diverse tokens and NFTs showcase the evolving interplay between traditional finance and cryptocurrency, highlighting the industry’s ever-expanding boundaries.
In conclusion, BlackRock’s foray into cryptocurrency and asset tokenization marks a significant moment in the integration of traditional finance with the digital asset space, showcasing a forward-thinking approach to investment and asset management in the digital age.
The post BlackRock Gains Memecoins and NFTs Following $100M USDC On-chain Deposit appeared first on Today NFT News.
Square Enix Ventures Into Web3 and NFT Gaming With HyperPlay Investment
SNEAK PEEK
Square Enix joins forces with HyperPlay, injecting funds to expand the Web3 gaming platform and integrate its own MetaMask-based art experience.
HyperPlay founder JacobC.eth hints at upcoming developments, including expanded platform access for Mac users and integration with Amazon Prime.
This strategic partnership underscores Square Enix’s commitment to embracing blockchain and Web3 technologies.
Square Enix, the renowned Japanese tech giant behind beloved gaming franchises like Final Fantasy and Kingdom Hearts, has made a strategic move into the realm of Web3 and blockchain technology. Partnering with HyperPlay, a crypto-native gaming platform, Square Enix has invested an undisclosed sum to bolster the development and expansion of HyperPlay’s game store. This collaboration marks Square Enix’s latest endeavor to embrace emergent technologies. The investment will fuel the growth of HyperPlay’s platform, which is aimed at revolutionizing game distribution and fostering innovative business models that are advantageous to developers.
Included in this partnership is the integration of Square Enix’s “SYMBIOGENESIS,” an art experience centered on digital asset ownership, into HyperPlay’s storefront. Hideaki Uehara, Square Enix’s general manager of investments, expressed enthusiasm for the venture, citing HyperPlay’s innovative approach to game distribution. JacobC.eth, the founder of HyperPlay, highlighted the platform’s mission to address longstanding issues in the gaming sector, particularly concerning legacy distribution channels hindering developers from fully capitalizing on Web3 capabilities.
In a statement, JacobC.eth teased forthcoming developments, emphasizing HyperPlay’s commitment to enhancing the Web3 gaming experience. Plans include expanding platform accessibility to Mac users and integrating with Amazon to provide Prime members with exclusive benefits within the HyperPlay ecosystem. Notably, Prime members will gain access to Amazon Prime Gaming titles directly through HyperPlay, unlocking a plethora of perks and rewards.
The investment underscores Square Enix’s strategic pivot towards embracing blockchain, Web3, and artificial intelligence (AI) technologies. This move aligns with the company’s efforts to modernize its operations and remain at the forefront of technological innovation within the gaming industry. As HyperPlay continues to push the boundaries of Web3-native gaming distribution, industry observers anticipate further advancements and collaborations aimed at reshaping the gaming landscape. With Square Enix’s backing, HyperPlay is poised to solidify its position as a leader in the evolving intersection of gaming and blockchain technology.
The post Square Enix Ventures into Web3 and NFT Gaming with HyperPlay Investment appeared first on Today NFT News.
Square Enix joins forces with HyperPlay, injecting funds to expand the Web3 gaming platform and integrate its own MetaMask-based art experience.
HyperPlay founder JacobC.eth hints at upcoming developments, including expanded platform access for Mac users and integration with Amazon Prime.
This strategic partnership underscores Square Enix’s commitment to embracing blockchain and Web3 technologies.
Square Enix, the renowned Japanese tech giant behind beloved gaming franchises like Final Fantasy and Kingdom Hearts, has made a strategic move into the realm of Web3 and blockchain technology. Partnering with HyperPlay, a crypto-native gaming platform, Square Enix has invested an undisclosed sum to bolster the development and expansion of HyperPlay’s game store. This collaboration marks Square Enix’s latest endeavor to embrace emergent technologies. The investment will fuel the growth of HyperPlay’s platform, which is aimed at revolutionizing game distribution and fostering innovative business models that are advantageous to developers.
Included in this partnership is the integration of Square Enix’s “SYMBIOGENESIS,” an art experience centered on digital asset ownership, into HyperPlay’s storefront. Hideaki Uehara, Square Enix’s general manager of investments, expressed enthusiasm for the venture, citing HyperPlay’s innovative approach to game distribution. JacobC.eth, the founder of HyperPlay, highlighted the platform’s mission to address longstanding issues in the gaming sector, particularly concerning legacy distribution channels hindering developers from fully capitalizing on Web3 capabilities.
In a statement, JacobC.eth teased forthcoming developments, emphasizing HyperPlay’s commitment to enhancing the Web3 gaming experience. Plans include expanding platform accessibility to Mac users and integrating with Amazon to provide Prime members with exclusive benefits within the HyperPlay ecosystem. Notably, Prime members will gain access to Amazon Prime Gaming titles directly through HyperPlay, unlocking a plethora of perks and rewards.
The investment underscores Square Enix’s strategic pivot towards embracing blockchain, Web3, and artificial intelligence (AI) technologies. This move aligns with the company’s efforts to modernize its operations and remain at the forefront of technological innovation within the gaming industry. As HyperPlay continues to push the boundaries of Web3-native gaming distribution, industry observers anticipate further advancements and collaborations aimed at reshaping the gaming landscape. With Square Enix’s backing, HyperPlay is poised to solidify its position as a leader in the evolving intersection of gaming and blockchain technology.
The post Square Enix Ventures into Web3 and NFT Gaming with HyperPlay Investment appeared first on Today NFT News.
NodeMonkes Market Cap Surpasses Bored Ape NFTs Amid Bitcoin Ordinals Surge
SNEAK PEEK
Bitcoin Ordinals’ NodeMonkes project overtakes Bored Ape NFTs in market capitalization.
NodeMonkes, featuring 10,000 8-bit monkey-themed digital collectibles, sees a surge in demand.
Runestone, another Bitcoin Ordinals project, experiences a remarkable value surge following an airdrop.
Bitcoin Ordinals project NodeMonkes has surged past the renowned Bored Ape Yacht Club in terms of market capitalization, marking a significant milestone in the realm of non-fungible tokens (NFTs). As per data from Magic Eden, NodeMonkes boasts a market capitalization of 7,300 BTC, equivalent to approximately $490 million, while the Bored Ape Yacht Club’s market cap sits at 136,500 ETH, roughly $483 million, according to NFT Price Floor.
NodeMonkes have flipped BAYC after going from 0.54 to 0.78 BTC floor today.
You can't fully see it, but figured I'd show the full chart.
NodeMonke floor: $52,600BAYC floor: $48,780 pic.twitter.com/QNkAe5jUiV
— NFTstats.eth (@punk9059) March 18, 2024
Although Ethereum-based collections have regained their lead for now, the competition remains tight, with a mere $30 million separating the market caps of these two prominent NFT collections.
NodeMonkes, introduced in December, comprises 10,000 8-bit monkey-themed digital collectibles. The project’s market cap is determined by multiplying the floor price by the number of assets in the collection. Notably, NodeMonkes #2769 fetched a staggering 17 BTC, approximately $1.08 million at the time, on Magic Eden in February.
The surge in demand for Bitcoin Ordinals projects aligns with Bitcoin’s record-breaking price surges. Over the past week, Ordinals projects have amassed a trading volume of $135 million, while Ethereum NFTs recorded sales totaling $113 million, according to CryptoSlam data.
Another notable player in the Bitcoin Ordinals space is Runestone, which experienced a surge in value following an airdrop on March 14. With 112,383 tokens on Bitcoin, Runestone swiftly rose to become one of the top three most-traded NFT projects, amassing $5.3 million in trading volume within 24 hours, per data from DappRadar.
The anticipation surrounding the Runestone airdrop reached a fever pitch, evidenced by a single Runestone inscription fetching 8 BTC, around $533,956, at auction prior to the airdrop. The excitement stems from the forthcoming launch of the Rune token protocol by Ordinals creator Casey Rodarmor, scheduled to coincide with the Bitcoin halving in April.
In response to the growing popularity of Bitcoin Ordinals, Yuga Labs, the creators of Bored Ape Yacht Club, unveiled their collection of Ordinal inscriptions dubbed TwelveFold, featuring 300 generative NFT art pieces. Yuga Labs co-founder Greg Solano expressed optimism about the future of digital artifacts on Bitcoin.
As the landscape of NFTs continues to evolve, the rise of Bitcoin Ordinals projects signals a paradigm shift in the market, challenging the dominance of Ethereum-based collections and reshaping the dynamics of digital asset ownership.
The post NodeMonkes Market Cap Surpasses Bored Ape NFTs Amid Bitcoin Ordinals Surge appeared first on Today NFT News.
Bitcoin Ordinals’ NodeMonkes project overtakes Bored Ape NFTs in market capitalization.
NodeMonkes, featuring 10,000 8-bit monkey-themed digital collectibles, sees a surge in demand.
Runestone, another Bitcoin Ordinals project, experiences a remarkable value surge following an airdrop.
Bitcoin Ordinals project NodeMonkes has surged past the renowned Bored Ape Yacht Club in terms of market capitalization, marking a significant milestone in the realm of non-fungible tokens (NFTs). As per data from Magic Eden, NodeMonkes boasts a market capitalization of 7,300 BTC, equivalent to approximately $490 million, while the Bored Ape Yacht Club’s market cap sits at 136,500 ETH, roughly $483 million, according to NFT Price Floor.
NodeMonkes have flipped BAYC after going from 0.54 to 0.78 BTC floor today.
You can't fully see it, but figured I'd show the full chart.
NodeMonke floor: $52,600BAYC floor: $48,780 pic.twitter.com/QNkAe5jUiV
— NFTstats.eth (@punk9059) March 18, 2024
Although Ethereum-based collections have regained their lead for now, the competition remains tight, with a mere $30 million separating the market caps of these two prominent NFT collections.
NodeMonkes, introduced in December, comprises 10,000 8-bit monkey-themed digital collectibles. The project’s market cap is determined by multiplying the floor price by the number of assets in the collection. Notably, NodeMonkes #2769 fetched a staggering 17 BTC, approximately $1.08 million at the time, on Magic Eden in February.
The surge in demand for Bitcoin Ordinals projects aligns with Bitcoin’s record-breaking price surges. Over the past week, Ordinals projects have amassed a trading volume of $135 million, while Ethereum NFTs recorded sales totaling $113 million, according to CryptoSlam data.
Another notable player in the Bitcoin Ordinals space is Runestone, which experienced a surge in value following an airdrop on March 14. With 112,383 tokens on Bitcoin, Runestone swiftly rose to become one of the top three most-traded NFT projects, amassing $5.3 million in trading volume within 24 hours, per data from DappRadar.
The anticipation surrounding the Runestone airdrop reached a fever pitch, evidenced by a single Runestone inscription fetching 8 BTC, around $533,956, at auction prior to the airdrop. The excitement stems from the forthcoming launch of the Rune token protocol by Ordinals creator Casey Rodarmor, scheduled to coincide with the Bitcoin halving in April.
In response to the growing popularity of Bitcoin Ordinals, Yuga Labs, the creators of Bored Ape Yacht Club, unveiled their collection of Ordinal inscriptions dubbed TwelveFold, featuring 300 generative NFT art pieces. Yuga Labs co-founder Greg Solano expressed optimism about the future of digital artifacts on Bitcoin.
As the landscape of NFTs continues to evolve, the rise of Bitcoin Ordinals projects signals a paradigm shift in the market, challenging the dominance of Ethereum-based collections and reshaping the dynamics of digital asset ownership.
The post NodeMonkes Market Cap Surpasses Bored Ape NFTs Amid Bitcoin Ordinals Surge appeared first on Today NFT News.
Starbucks Announces Termination of NFT Rewards Program
SNEAK PEEK
Starbucks announces termination of NFT rewards program, Odyssey Beta, sparking speculation about the company’s future initiatives.
The closure of program marketplace and community Discord server hints at significant changes within Starbucks’ loyalty program framework.
Experts weigh in on the closure and predict the evolution of NFTs as valuable tools with real-world applications in 2024.
Starbucks has made a surprising announcement, revealing the end of its NFT rewards program, Odyssey Beta, scheduled to conclude on March 31. This move, though unexpected, reflects a trend seen among major corporations lately. The program, which allows customers to earn and purchase digital collectible stamps in the form of nonfungible tokens (NFTs), will make way for new initiatives within the company.
During its tenure, Odyssey Beta provided users with engaging coffee-themed games and challenges, rewarding them with digital stamps that offered access to various benefits and interactive experiences. However, Starbucks has decided to shutter both the marketplace where users traded these digital stamps and the associated community Discord server.
Instead, Starbucks proposes a transition to the Nifty marketplace for continued trading of Odyssey stamps. The reasons behind Starbucks’ decision remain undisclosed, leaving speculation about future developments within its loyalty program.
Starbucks launched Odyssey Beta in September 2022 amidst a tumultuous period for the cryptocurrency industry following several high-profile collapses, including the Terra ecosystem, Celsius, and FTX. Notably, Starbucks opted for the Polygon network over proof-of-work blockchains due to its lower energy consumption, aligning with its commitment to sustainability.
This move echoes similar decisions made by other industry giants. GameStop recently closed its NFT marketplace after years of cutbacks in its crypto services. Meta, previously known as Facebook, also discontinued its NFT features across its platforms, Facebook and Instagram, merely ten months after their integration.
Looking ahead, experts speculate on the future of the NFT market in 2024. Vineet Budki, CEO of Cypher Capital, foresees NFTs evolving into valuable tools with real-world applications. Oh Thongsrinoon, Chief Marketing Officer of Altava Group, emphasizes the utility and value of NFTs beyond mere profile pictures, envisioning their integration into industries like precious metals and real estate.
As Starbucks bids farewell to its NFT rewards program, it signifies a shifting landscape within the cryptocurrency and loyalty program spheres. The closure of Odyssey Beta marks the end of an era yet hints at the potential for innovations on the horizon.
The post Starbucks Announces Termination of NFT Rewards Program appeared first on Today NFT News.
Starbucks announces termination of NFT rewards program, Odyssey Beta, sparking speculation about the company’s future initiatives.
The closure of program marketplace and community Discord server hints at significant changes within Starbucks’ loyalty program framework.
Experts weigh in on the closure and predict the evolution of NFTs as valuable tools with real-world applications in 2024.
Starbucks has made a surprising announcement, revealing the end of its NFT rewards program, Odyssey Beta, scheduled to conclude on March 31. This move, though unexpected, reflects a trend seen among major corporations lately. The program, which allows customers to earn and purchase digital collectible stamps in the form of nonfungible tokens (NFTs), will make way for new initiatives within the company.
During its tenure, Odyssey Beta provided users with engaging coffee-themed games and challenges, rewarding them with digital stamps that offered access to various benefits and interactive experiences. However, Starbucks has decided to shutter both the marketplace where users traded these digital stamps and the associated community Discord server.
Instead, Starbucks proposes a transition to the Nifty marketplace for continued trading of Odyssey stamps. The reasons behind Starbucks’ decision remain undisclosed, leaving speculation about future developments within its loyalty program.
Starbucks launched Odyssey Beta in September 2022 amidst a tumultuous period for the cryptocurrency industry following several high-profile collapses, including the Terra ecosystem, Celsius, and FTX. Notably, Starbucks opted for the Polygon network over proof-of-work blockchains due to its lower energy consumption, aligning with its commitment to sustainability.
This move echoes similar decisions made by other industry giants. GameStop recently closed its NFT marketplace after years of cutbacks in its crypto services. Meta, previously known as Facebook, also discontinued its NFT features across its platforms, Facebook and Instagram, merely ten months after their integration.
Looking ahead, experts speculate on the future of the NFT market in 2024. Vineet Budki, CEO of Cypher Capital, foresees NFTs evolving into valuable tools with real-world applications. Oh Thongsrinoon, Chief Marketing Officer of Altava Group, emphasizes the utility and value of NFTs beyond mere profile pictures, envisioning their integration into industries like precious metals and real estate.
As Starbucks bids farewell to its NFT rewards program, it signifies a shifting landscape within the cryptocurrency and loyalty program spheres. The closure of Odyssey Beta marks the end of an era yet hints at the potential for innovations on the horizon.
The post Starbucks Announces Termination of NFT Rewards Program appeared first on Today NFT News.
NFPrompt, Backed By Binance, Reveals Losses to Hackers in Security Breach
SNEAK PEEK
NFPrompt, a platform incubated by Binance Labs, faces a critical security breach resulting in substantial losses of user funds and treasury assets.
The hack prompts a sharp decline in the value of NFP tokens, while authorities such as the FBI step in to assist in tracking down the perpetrators.
Despite the setback, NFPrompt swiftly takes action to secure assets, reassure users, and collaborate with exchanges to mitigate further risks.
Binance-backed platform NFPrompt has fallen victim to a hacking incident, resulting in significant losses of user funds and portions of the platform’s treasury. The breach, disclosed on March 15, exposed vulnerabilities that allowed hackers to infiltrate wallets and gain control over funds, including those from NFP’s treasury and ecosystem fund. Additionally, the hackers targeted wallets belonging to NFP’s contract administrators.
In response to the attack, NFPrompt swiftly took action by transferring all smart contract ownerships to new addresses to mitigate further risks. Assuring users, the platform declared that NFP tokens and assets on NFPrompt are now secure.
However, the repercussions of the hack were felt in the market as the value of NFP tokens plummeted by 13.8% within 24 hours, according to CoinGecko data. Despite trading at $0.79, down from its peak of $0.96 on March 14, the token still maintains a 21% increase over the past 30 days.
ATTENTION $NFP Holders:
We are writing to inform you of a critical security incident involving NFPrompt. It was discovered that a group of hackers compromised some wallets, including those of NFP’s contract administrators.
They illegally gained control of victims' funds,… pic.twitter.com/ZeQXLruvTW
— NFP (@nfprompt) March 15, 2024
In light of the incident, NFPrompt issued precautions to users, advising against accepting NFPs from untrusted sources and recommending trading the token only on reputable centralized exchanges (CEX). The platform also collaborated with partner CEXs to pause deposits during the investigation and urged decentralized exchanges (DEX) to temporarily halt liquidity pool activities involving NFP. Furthermore, measures were taken to freeze transactions associated with the hackers, with a commitment to mark and forfeit NFP tokens affiliated with them.
Acknowledging the severity of the situation, the Federal Bureau of Investigation (FBI) has intervened to assist NFPrompt in identifying and apprehending the hackers. However, the exact extent of the losses incurred by NFPrompt remains undisclosed at this time.
Established in 2023, NFPrompt, short for “Nonfungible Prompt,” initially gained recognition as an AI-driven art creation and NFT trading platform. Its selection by Binance Labs for incubation underscores its potential within the crypto space.
Despite the setback, NFPrompt’s proactive measures and cooperation with authorities signal a commitment to safeguarding the interests of its users and restoring trust in the platform’s security protocols.
The post NFPrompt, Backed by Binance, Reveals Losses to Hackers in Security Breach appeared first on Today NFT News.
NFPrompt, a platform incubated by Binance Labs, faces a critical security breach resulting in substantial losses of user funds and treasury assets.
The hack prompts a sharp decline in the value of NFP tokens, while authorities such as the FBI step in to assist in tracking down the perpetrators.
Despite the setback, NFPrompt swiftly takes action to secure assets, reassure users, and collaborate with exchanges to mitigate further risks.
Binance-backed platform NFPrompt has fallen victim to a hacking incident, resulting in significant losses of user funds and portions of the platform’s treasury. The breach, disclosed on March 15, exposed vulnerabilities that allowed hackers to infiltrate wallets and gain control over funds, including those from NFP’s treasury and ecosystem fund. Additionally, the hackers targeted wallets belonging to NFP’s contract administrators.
In response to the attack, NFPrompt swiftly took action by transferring all smart contract ownerships to new addresses to mitigate further risks. Assuring users, the platform declared that NFP tokens and assets on NFPrompt are now secure.
However, the repercussions of the hack were felt in the market as the value of NFP tokens plummeted by 13.8% within 24 hours, according to CoinGecko data. Despite trading at $0.79, down from its peak of $0.96 on March 14, the token still maintains a 21% increase over the past 30 days.
ATTENTION $NFP Holders:
We are writing to inform you of a critical security incident involving NFPrompt. It was discovered that a group of hackers compromised some wallets, including those of NFP’s contract administrators.
They illegally gained control of victims' funds,… pic.twitter.com/ZeQXLruvTW
— NFP (@nfprompt) March 15, 2024
In light of the incident, NFPrompt issued precautions to users, advising against accepting NFPs from untrusted sources and recommending trading the token only on reputable centralized exchanges (CEX). The platform also collaborated with partner CEXs to pause deposits during the investigation and urged decentralized exchanges (DEX) to temporarily halt liquidity pool activities involving NFP. Furthermore, measures were taken to freeze transactions associated with the hackers, with a commitment to mark and forfeit NFP tokens affiliated with them.
Acknowledging the severity of the situation, the Federal Bureau of Investigation (FBI) has intervened to assist NFPrompt in identifying and apprehending the hackers. However, the exact extent of the losses incurred by NFPrompt remains undisclosed at this time.
Established in 2023, NFPrompt, short for “Nonfungible Prompt,” initially gained recognition as an AI-driven art creation and NFT trading platform. Its selection by Binance Labs for incubation underscores its potential within the crypto space.
Despite the setback, NFPrompt’s proactive measures and cooperation with authorities signal a commitment to safeguarding the interests of its users and restoring trust in the platform’s security protocols.
The post NFPrompt, Backed by Binance, Reveals Losses to Hackers in Security Breach appeared first on Today NFT News.
