The market for nonfungible tokens (NFTs) might be struggling during this “NFT Winter,” but there are signs of life if you know where to look. Headlines predicting the death of Bitcoin are nothing new. Over the past decade, we’ve seen every permutation of why “Bitcoin is dead” imaginable, yet the current crypto winter has brought…
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The number of Bitcoin Ordinal inscriptions on the blockchain is nearing 19 million, a trend that has continued for the past 218 days since December 16, 2022. Statistics indicate that miners have accrued roughly 1,847.66 BTC in fees, worth about $55.29 million, confirming the millions of Ordinal inscriptions. Bitcoin’s Ordinal Inscriptions Near 19 Million As…
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The short-lived NFT features were first launched in May 2022, but Meta’s financial technology lead said it’s “winding down” the tools to focus elsewhere. Big Tech firm Meta is scrapping its nonfungible token (NFT) feature across its social media platforms Facebook and Instagram just under a year after it launched. Stephane Kasriel, Meta’s head of…
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Two collections have appeared on NFT marketplace OpenSea depicting images and art related to the rare widespread protests in China over its lockdown policies. China’s COVID-19 protests cemented as NFTs Nonfungible tokens (NFTs) depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea.…
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The latest Web3 offering from GameStop sees the official launch of its NFT market, and the Hong Kong government is testing a proof-of-concept NFT at a convention. The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from…
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An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new “Digital Asset” category. American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined…
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A source familiar with the matter said the SEC is looking into whether certain NFTs from Yuga Labs could be “more akin to stocks.” Sources say that the U.S. Securities and Exchange Commission (SEC) probe into Yuga Labs is actually part of a wider investigation into the nonfungible token (NFT) market, which already came to…
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Nonfungible tokens are about more than Bored Apes. They fulfill a host of functions better than existing systems. Some critics deem nonfungible tokens (NFTs) to be totally worthless. They don’t see the point. Why should they? The industry hasn’t covered itself in glory with countless rug pulls and celebrity endorsements with prompt pump-and-dumps. But, this…
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Illuvium’s co-founder says they want to build a series of blockchain games connected to each other, forming an ecosystem of interconnected titles which share NFTs. Kieran Warwick, co-founder of the blockchain role-playing game Illuvium has lifted the curtain on a gaming concept he says has never been done before — the interoperable blockchain game (IBG). …
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The customizable card will only support NFT avatars from select blue chip collections, subject to Mastercard’s design standards and an owner verification process. Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment’s card. The debit cards are made…
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