All articles tagged with #nfts
Nexus Mods has been acquired by a company called Chosen, co-founded by Victor Folmann and Marinus Elgaard, who have reassured the community that they do not plan to introduce paid mods or NFTs, and aim to support the platform's community-focused approach. The ownership change was initially kept vague, prompting community investigation.
Cryptocurrency entrepreneur Justin Sun ate a banana from Maurizio Cattelan's $6.2 million artwork 'Comedian' during a press conference in Hong Kong. Sun, who purchased the artwork at a Sotheby's auction, used the event to draw parallels between the artwork and cryptocurrency, likening it to NFTs. The banana, part of a duct-taped installation, has been replaced multiple times and eaten by others before. Sun's actions highlight the intersection of art, value, and digital currency.
Former President Donald Trump announced plans to release a fourth NFT collection, citing strong demand and previous success. Trump, who has increasingly embraced the crypto industry, highlighted the importance of the U.S. staying competitive in the crypto space, particularly against China. His campaign has also started accepting crypto donations, raising $3 million in crypto last quarter.
An AMBCrypto survey reveals that 57.8% of market participants prefer Bitcoin NFTs over Ethereum NFTs, despite Bitcoin's recent price decline and reduced market dominance. The survey also highlights a growing interest in memecoins, with 53.7% of respondents favoring them over Bitcoin. Bitcoin NFTs' rising popularity could potentially boost Bitcoin's price in the near future.
The Ethereum NFT market has experienced a significant slump, with sales dropping by 55% and popular collections like BAYC and Crypto Punks seeing over 40% declines. Despite this, ETH's price has remained relatively stable, though network growth and daily active addresses have decreased. The waning interest in Ethereum's ecosystem could pose long-term challenges, although the high MVRV ratio and presence of long-term holders suggest a large sell-off is unlikely in the near future.
The creators of the NFT-based card-trading game, Champions of Otherworldly Magic, are facing backlash for paying an AI "artist" $15K a month for 10 hours of work to generate images for the game's cards. The decision to use AI-generated images has sparked controversy, with the development team defending their choice while facing criticism from traditional artists. Some view the situation as a publicity stunt, while others see it as a clash between AI and traditional art.
The developer of a digital card trading game, Champions TCG, claims to pay an AI artist $1,500 per hour for creating AI-generated images, justifying the cost by stating that the artist's work is faster and of higher quality than that of traditional artists. The company's CEO defended the high payment, stating that the AI artist's output would have cost more and taken longer if done by a team of traditional artists. The company's post sparked controversy, with some questioning the value of the AI-generated images, while others accused the company of seeking engagement.
Ordz Games has announced the BitBoy One, a retro-inspired handheld gaming console that allows players to earn Bitcoins while playing blockchain-connected games. The device, which resembles popular mini-retro handhelds, is expected to cost around $500 and will also function as a crypto wallet. It will support playing classic games and earning cryptocurrency, but the specifics of its capabilities and release date remain vague, with the creator acknowledging that the device's mining power is weak and not intended for significant earnings.
ApeCoin reported a positive Q4, but its price declined as interest in Yuga Labs NFTs waned in comparison to Bitcoin-based NFTs. The NFT sector became more competitive, impacting APE's performance, with BAYC and MAYC not achieving sales volumes comparable to other NFT collections. APE's price declined, network growth fell, and the MVRV ratio indicated most holders were not profitable, while the Long/Short difference grew, suggesting long-term holders exceeded short-term holders.
Coinbase plans to raise $1 billion through a convertible bond sale, following MicroStrategy's lead, to capitalize on the crypto market rally without diluting existing shareholders' ownership. Meanwhile, QCP Capital predicts a potential correction in Ether's price due to negative risk reversals and concerns about market leverage. Additionally, a study by the USPTO and the U.S. Copyright Office concludes that current intellectual property laws are sufficient to address copyright and trademark issues related to NFTs, despite common infringement on NFT platforms.
Former U.S. president Donald Trump expressed a more positive view on Bitcoin, acknowledging it as an "additional form of currency" and stating that he wouldn't want to take it away at this point. This marks a significant shift from his previous characterization of Bitcoin as a "scam" in 2021. While Trump emphasized his preference for the U.S. dollar and the need to prevent countries from abandoning it, he also noted the significant interest in NFTs and their purchase using cryptocurrency.
Yuga Labs, the company behind the Bored Apes Yacht Club NFT project, held beta sessions for their upcoming NFT-powered metaverse project, Otherside, where owners of certain NFTs could explore a digital clubhouse, but the experience was underwhelming with limited features and graphics. The project aims to support multiple NFT types and user-created games in the future, but the high entry cost and lack of compelling content may pose challenges for its success.
Bitcoin's price surged over $60,000, causing Coinbase's app to crash, while Telegram announced a plan to pay rewards using toncoin on the TON blockchain. Nigerian crypto users faced difficulties with some exchanges, and Starbucks Odyssey's community lead sees NFTs as a way to build brand loyalty. The crypto market saw significant gains, with bitcoin and ether both jumping about 23.6% and 18%, respectively, and the total market cap increasing to $2.34 trillion. Additionally, various crypto-related startups secured significant funding rounds, and a podcast series on NFTs and web3 was highlighted.
Jeff Koons's long-awaited project, "The Moon Phases Project," involving 125 sculptures sent to the moon, finally took off in a SpaceX rocket after several delays. The sculptures, representing different moon phases and historical figures, were scheduled to land on the moon in a lunar lander. The initiative, which also includes corresponding NFTs and larger versions of the sculptures, aims to commemorate significant human achievements and impact.
Donald Trump hosted a lavish gala at Mar-a-Lago for buyers of his "Trump Cards" NFT collection, featuring digital trading cards depicting him as a superhero, cowboy, or god. The gala, held on the day of his sister's death, attracted attendees from around the world and featured a speech by Trump, who touted the NFTs as a branding and money-making venture. The event, which included a three-course meal and Trump's campaign-like remarks, showcased the intersection of NFT culture and MAGA fandom, with attendees expressing both investment and novelty motivations for purchasing the NFTs.