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🖼 Coinbase ‘Iterating Quickly’ on NFT Marketplace Despite Lackluster Rollout: Protocols Head
oinbase, the decade-old publicly traded crypto company, product innovation may not be the first thing that comes to mind. At ETH Denver, however, Coinbase head of protocols Jesse Pollak says the company aims to change that. Coinbase—the largest cryptocurrency exchange in the United States—launched Base.
In January, Coinbase added new features to its Coinbase Wallet, including transaction previews, token approval alerts, a blocklist of flagged dApps, and a spam token manager that automatically hides malicious airdrops. In April 2022, Coinbase launched an NFT marketplace that did not catch on as strongly as the company had hoped. The first version of the product didn’t work as well as well as we’d like to,” Pollak said. “But we’ve been iterating quickly on that over the last year, and I think we’re seeing a lot more signs of life and a lot more growth there.
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🖼 Sorare NFTs Should Be Regulated Under 'New Category', CEO Says
A federal judge’s recent ruling in Manhattan that claims Dapper Labs’ NBA Top Shot NFTs may be unregistered securities shows U.S. government regulations could be coming to the multi-billion dollar NFT market. The French company claims it has more than three million users worldwide through its fantasy NFT partnerships.
Nicolas Julia, CEO of fantasy sports NFT firm Sorare, believes his product should be listed under a new category outside of existing sports betting and daily fantasy sports regulations. “We have been proactive with all regulators in the U.S. and Europe to help build the framework that might be appropriate for the new category we are building,” Julia told Decrypt. “It’s very clear that it’s not a betting product, not a [daily fantasy sports] product. It’s a new category where you truly own your own items. There’s no notion of financial sacrifice. Hopefully something is going to be built in the future.”
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🖼 Flare gets NFT platform to increase use cases for interoperability protocols
Flare, the layer-1 Ethereum Virtual Machine (EVM) blockchain, went live on Jan. 10 after it launched two core protocols for decentralized interoperability applications. The blockchain network allows developers to create applications that are interoperable between various blockchain ecosystems and internet platforms.
According to the announcement a primary goal of the Sparkles NFT platform is to hone in on the interoperability of native Flare protocols to increase use cases for NFT utility. The NFT platform has plans to target other major issues in the space, such as intellectual property (IP) rights, via attaching on-chain IP licensing to future collections. Sparkles also has plans of decentralizing its core technology and infrastructure after it transitions into a DAO. on March 2, Flare welcomed the nonfungible token (NFT) platform Sparkles.
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🖼 Redeem raises $2.5 million to transfer NFTs over text message
Blockchain agnostic connectivity layer Redeem has raised $2.5 million to enable individuals to participate in web3 using just their phone numbers. The pre-seed funding round is led by Kenetic. Other investors in the round include VC3 DAO, CMT Digital and Flyover Capital, the company said in the release.
The startup, founded by Toby Rush, a former Alibaba executive and the founder of biometric startup EyeVerify, wants to provide the infrastructure to enable users to tap into web3 using just their phone numbers. "If there were a through line between the various companies, I would say it's around how do you let people do more by doing less," Rush said. "A more tongue in cheek way, people are lazy and I try to help them be productive while being lazy," he added. Redeem's model is business- to-business and business-to-customer with a focus on exchanging utility NFTs, Rush said.
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📣 Saxx uses its first metaverse store to promote new collection
The Canada-based brand sells products on its website as well as retailers like Nordstrom Rack, Dillard’s, REI and others. Men’s apparel offered in the virtual store include swimwear, long and short sleeve tops, hoodies, polos and of course, underwear. All of the tops feature UPF 50 and can be worn in the water.
Virtual experience developer Emperia has been working with other brands to help launch metaverse spaces, most recently helping beauty brand Tatcha. The developer also worked with Bloomingdale’s ahead of New York Fashion Week in September and Lacoste for its own virtual store. Virtual experience developer Emperia has been working with other brands to help launch metaverse spaces, most recently helping beauty brand Tatcha. The developer also worked with Bloomingdale’s ahead of New York Fashion Week in September and Lacoste for its own virtual store.
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📣 Huawei to launch metaverse and Web3 Alliance for East Asia
The cloud branch of Chinese technology titan Huawei has entered into a ‘heavyweight’ partnership with multiple blockchain companies on the launch of its metaverse and Web3 Alliance project, which aims to facilitate the speedy adoption.
Huawei Cloud announced cooperation with Polygon (MATIC), Deepbrain Chain (DBC), Morpheus Labs (MITX), and BlockChain Solutions, with others to follow in the future, at the 2023 Huawei Cloud Asia Pacific Partnership Leaders Summit in Bali, Indonesia, on February 23, as WeChat reported on February 25. Commenting on the partnership and launch announcement, the CEO of Morpheus Labs, Pei-Han, stressed his company’s involvement in the project as “one of the key partners in Huawei Metaverse – Web3 Alliance.”
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🔫 Fujitsu and Mitsubishi look to create Japanese 'metaverse economic zone'
A group of large Japanese companies — including Mitsubishi, Fujitsu and banking giant Mizuho — agreed to work together to create a "Metaverse Economic Zone" for the country, with the aim of building open metaverse infrastructure. Companies that signed the agreement will integrate their technologies and services.
The new social infrastructure will be used for information dissemination, marketing and workstyle reform for domestic enterprises, the release said. Users will be able to engage in an RPG-like experience as they travel through different realms. The service could also be extended beyond Japan to other jurisdictions and governments. Mizuho will provide infrastructure for "metaverse coins," Mitsubishi will give capacity for "web3-type metaverse financial functions" and Sompo Japan Insurance will work on insurance and risk policy development for the web3 era.
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🔫 Metaverse Real Estate Continues Despite Crypto Issues
The real estate market is alive and well in the metaverse, the New York Times reported. Despite some high-profile problems in the cryptocurrency world, the market continues to grow, with Technavio projecting it will increase $5.37 billion in the next three years.
The metaverse market is governed by the same supply-and-demand principles that affect the housing market in the physical world. In the Sandbox, a popular virtual world, direct land purchases go for nearly $400 per parcel. But prices skyrocket on the resale market or in places where buyers can be close to prominent bands and celebrities, such as Snoop Dogg. “Land is becoming the infrastructure of the metaverse,” Sebastien Borget, co-founder of the Sandbox, told the Times.
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🖼 Collectors spend $280,000 in Ethereum fees to mint 28,000 Coinbase NFTs
Crypto fans have cumulatively spent $280,000 in transaction fees to mint more than 28,000 Coinbase NFTs on Ethereum. The NFTs were available to be minted for free for those who wanted to mark the testnet launch of Coinbase's Layer 2 network, Base.
Coinbase introduced Base today as a Layer 2 network set to run on top of the Ethereum mainnet. It's built on Optimism's OP Stack and will be part of its "Superchain" — a name given to the Layer 2 networks built on the OP Stack that are compatible with each other. To mark the network's launch, Coinbase created a free mint NFT. The NFTs can be minted for four days following the announcement and are on the Ethereum mainnet. They appear to be identical and show a blue circle.
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🖼 Spotify starts testing ways to access music via NFTs
Spotify has started rolling out a function called token-enabled playlists, which allows users who hold specific NFTs to access exclusive content and interact with the music-hosting app differently. The partnerships will trial token-gated playlists and community playlist generation.
It is working with a startup called Overlord, which tweeted on Wednesday that the pilot would be available in the U.S., UK, Germany, Australia and New Zealand. Overlord said it would only be accessible on Android and to people holding Creepz NFTs. The Bored Ape Yacht Club derivative music group Kingship, created by Universal Music Group, also said it would participate in the trial. A playlist will be made exclusively available to Kingship Key Card NFT holders.
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🖼 Blur to Airdrop $300M In Extra Tokens to 'Loyal' NFT Traders
Ascendant NFT marketplace Blur announced Tuesday that it will soon airdrop some $300 million worth of additional tokens to loyal users, days after overtaking once-untouchable competitor OpenSea as the most popular Ethereum NFT trading platform by trading volume.
Blur will release 300 million of its native BLUR tokens to traders over the course of the platform’s “Season 2,” which has already begun. BLUR is currently trading at $0.99, according to CoinGecko. “Season 1,” which culminated with the debut of its native token BLUR last week, saw Blur dole out “care packages” of BLUR to traders who transitioned to the platform from a competing NFT marketplace, listed NFTs on the platform immediately following its October launch, or used Blur to bid on NFTs.
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⚡️ Accenture’s Role in Building the Enterprise Metaverse
Today, virtually every leading brand is building its own strategy to leverage and access the metaverse environment. Accenture, a pioneering technology innovator, is one of the organizations leading the charge for new and transformative solutions.
Accenture has conducted various studies into the potential of the metaverse. The company found around 55% of consumers see the metaverse as an exciting business opportunity, and 89% of C-executives believe the landscape will impact their future growth. Building on these insights, Accenture has begun to develop its own dedicated vision for the metaverse, complete with a comprehensive selection of Metaverse tools and services for new companies.
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🖼 Cadbury Gems unveils artwork-based NFTs for charitable purposes
Cadbury Gems, an Indian chocolate brand, has launched GemsJrNFT campaign in 2022. Aimed at adding utility to kid’s paintings, this initiative is believed to use blockchain to convert regular artworks into non-fungible tokens (NFTs). a portion of the proceeds is donated to Save the Children.
Through NFTs and blockchain technology, we aim to direct their efforts towards a cause. I believe this effort is aligned with our mission to go beyond just storytelling and make a difference through our brands such as Cadbury Gems. We believe that our consumers will look forward to owning a piece of the collection,” Nitin Saini, vice-president, marketing, Mondelez India, said. five percent of the royalty would go towards the charity and the royalty will be coded in smart contract while minting the NFTs.
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🖼 NFT Sales Surge Over 43% in Past Week, Topping $397 Million
Sales of non-fungible token (NFT) assets over the last seven days rose 43.97% compared to the previous week, according to statistics recorded on Feb. 18, 2023. The volume of NFT sales reached $397.86 million this week, with 345,716 NFT buyers and roughly 1.62 million transactions.
In the past week, sales of non-fungible tokens (NFTs) have surged, rising more than 43% higher than the previous week, according to statistics from cryptoslam.io. NFT sales totaled $397.86 million this week, with the number of buyers increasing by more than 77% to 345,716. Sales of NFTs on the Ethereum blockchain dominated, accounting for $360.32 million, or just over 90% of total sales. Sales of non-fungible tokens (NFTs) on the Ethereum blockchain led the way.
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🖼 Trading Volume of BitKeep NFT Marketplace Soars to Second Place on Arbitrum
The latest data shows that the trading volume of BitKeep NFT marketplace reached $28,000 in a single-day on Arbitrum, soaring to second place right after OpenSea. It is reported that BitKeep launched the Arbitrum Argonaut Eco Month on March 1, introducing a series of incentives including trading NFTs.
BitKeep NFT market supports 7 mainstream public chains including Ethereum, BNB Chain, Polygon and Arbitrum, providing users with one-stop services such as NFTs trading, bulk listing, featured collections and data analysis. BitKeep constantly adds new features according to market trends and user needs, including decentralized domain name trading, FreeMint, popular project INO Mint and NFT avatars, aiming to constantly create a rich and diversified NFT trading paradise.
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📊 NFT Trading Volumes Hit $2B in February, Highest Since LUNA Crash, Thanks to Blur
According to Web3 data platform DappRadar’s latest industry report, NFT trading volumes reached $2 billion in February – the highest number since before the meteoric crash of Terra and its UST and LUNA tokens in May 2022. The war for market share in the non-fungible token (NFT) space may be having positive impacts after all.
Much of the surge is attributable to the rising popularity of zero-fee marketplace Blur. While NFT sales, the number of tokens traded, decreased about 32% from January, trading volume, the amount of cryptocurrency transacted across those trades, increased about 120%. Much of this has to do with incentivized trades ahead of Blur’s native token airdrop in mid-February. Since Blur launched in October, it's been focusing on targeting floor-sweeping NFT traders looking to make large-scale purchases with zero fees.
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🟠 Binance AI-powered NFT Generator Reaches Minting Cap In 2.5 Hours
Changpeng Zhao (CZ), the CEO of Binance, announced the introduction of a new non-fungible token (NFT) platform infused with artificial intelligence (AI) Wednesday. According to official data, there are currently 9,904 sole owners of the Bicasso AI collection.
The AI-focused product is called Bicasso, and according to CZ, the beta version was only available for 10,000 mints yesterday. According to official data, there are currently 9,904 unique holders of Bicasso AI pilot collections. These images are part of a pilot and, therefore, not for resale. According to Binance’s official Twitter, users who missed the 10,000 NFT quota can still register for the full version of the waiting list. CZ said on Twitter yesterday evening that the first pilot of Bicasso has been completed, and 10,000 NFTs were minted within 2.5 hours (reaching the minting limit).
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🇨🇴 Colombia makes history by hosting court hearing in the metaverse
Another milestone has been marked for the metaverse after Colombia held its first legal proceedings in the virtual world. The court magistrate, María Victoria Quiñones, accepted a direct request from the plaintiff to hold the public audience in the metaverse.
The Colombian courtroom hosted the legal session in Horizon Workrooms 18, the free virtual collaborative application developed by Meta, which allows a group of people in the metaverse to meet in a virtual space through their respective avatars. Speaking through her avatar, the judge told those in the hearing that she was " all alone in my courtroom; my colleagues are in their offices, the counsel lawyer is in her house, and the other lawyers are in their own premises where they have chosen to connect from".
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⚡️ Nokia Announces New Brand Logo to Usher In The Metaverse
Nokia will expand beyond mobile phones, according to Pekka Lundmark, the company’s president. Moreover, they refurbished their old logo to elucidate they are more than just a mobile corporation. He said, “Our updated company strategy is supported by our technology strategy, which details how networks.
Nokia president highlights the construction of the Brooklyn Bridge to explain how the metaverse can make our lives easier. Enterprise metaverse would enable the maintenance of the bridge through global collaborations. Industrial metaverse will allow the person to work from the safety of their desks while controlling repair bots to make necessary changes on the bridge. Brooklyn Bridge was built in the 19th century and took 14 years to become completely operational, costing 20 lives.
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🖼 74% of survey participants say they buy NFTs for status
According to metaverse platform, Metajuice, almost three out of four of the nonfungible token (NFT) collectors on its platform purchase NFTs for status, uniqueness and aesthetics. While current NFT sales are not as high as during the peak in 2021, the space still holds on.
In an announcement sent to Cointelegraph, Metajuice highlighted that their team surveyed over 6,000 NFT users to discover the motivations behind NFT purchases. The survey results showed that among the reasons laid out by the researchers, standing out and wearing the NFTs as their avatar were the top reasons for NFT purchases. In addition, 74% of the respondents highlighted that they are interested in NFTs for the status that they give. On the other hand, 13% percent of the survey participants said that they are buying NFTs to resell them in the future.
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🇨🇴 Colombia’s legal system experiments in the metaverse: Report
A Colombian court recently hosted its first legal trial in the metaverse, with the court magistrate saying it felt “more real than a video call,” according to a recent report. The case lasted two hours and was brought by a regional transport union against the police, and will progress “partly” in the metaverse.
According to a Reuters report published on Feb. 24, Colombia’s Magdalena Administrative Court held a court case in the metaverse on Feb. 15 involving participants in a traffic dispute. The participants appeared as avatars in a virtual courtroom, with Magistrate Maria Quinones Triana dressed in black legal robes. It was noted that Columbia is one of the first countries in the world to test legal proceedings in the metaverse, with Quinones telling Reuters that it felt more “real than a video call.”
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🖼 Electronic Arts Founder Trip Hawkins Is Now Making NFT Games
The crypto world has attracted a number of video game industry legends, including famed developers like Will Wright and Peter Molyneux that are now developing NFT-based games, and now there’s another big name on that list: Trip Hawkins, the original founder and CEO of video game giant Electronic Arts (EA).
Hawkins was announced today as a co-founder and chief strategy officer of Games for a Living, a startup that is developing games based around NFTs and blockchain-based tokens. Games for a Living was co-founded by Manel Sort, formerly the first vice president at Candy Crush Saga developer King. The two game industry veterans previously worked together at Hawkins’ former mobile gaming startup Digital Chocolate.
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🖼 Largest NFT collectors joined Undeads Metaverse NFT drop
Undeads Metaverse, a highly anticipated AAA Web3 game, has announced that its first public mint event attracted some of the most prominent nonfungible token (NFT) collectors. The whitelisting phase saw a surge in demand for the Legendary and other NFTs.
As a reward for early supporters of Undeads Metaverse, the Legendary Box is a unique and extremely limited offering that represents a symbol of honor throughout the game’s lifespan. The Legendary Box includes an exclusive comic book produced by ALT Animation that showcases the history and artwork of the owner’s legendary zombie, available in both digital and physical formats. the Legendary Box comes with a complete 3D version of the owner’s game character that reflects the NFT artwork.
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🔫 Manuscript of book that coined the term 'metaverse' to be auctioned by Sotheby's
The manuscript of the cult classic novel "Snow Crash," the book known for coining the term metaverse, is going up for auction online. The never-before-seen manuscript is expected to fetch between $40,000 and $60,000, Sotheby's said on Thursday.
The sale will also include the typesetting manuscript of "Snow Crash," as well as 35 mm slides used to pitch the project — which was originally conceived as a graphic novel — and a hand-forged tachi sword inspired by the weapon wielded by the novel’s protagonist. Alongside the auction, Sotheby's is selling an NFT collection (Infocalpyse) with images related to the graphic novel project that preceded Snow Crash, "Dioxin Posse.". a hand-forged tachi sword inspired by the weapon wielded by the novel’s protagonist.
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🤟 Bored Ape whales cash out $10 million using Blur liquidity
Bored Ape Yacht Club NFT holders who run research and trading firm Degenz Finance cashed out to the tune of more than 6,000 ETH, or $10 million, on Wednesday, capitalizing on the increased liquidity afforded by NFT marketplace Blur. how will we ever monetise this position without greatly impacting the market.
BAYC was the top collection for volume as a result, with half of that coming from just two traders, according to an update posted on the Degenz website today. The sale was orchestrated by anonymous traders known as Mando and OSF. On Monday, NFT twitchers watched as the 71 BAYC NFTs were listed on Blur for around 5,545 ETH. The floor price currently sits at 77.4 ETH. Yuga Labs which we remain bullish on, holding Otherside, Mutants, Sewer Passes, $APE and also being angel investors," a note on the website reads.
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🖼 Ubisoft Continues Web3 Push With Rabbids NFTs in The Sandbox
Ubisoft was the first major video game publisher to release in-game NFT items with Ghost Recon Breakpoint in December 2021—and while the reception was decidedly mixed, the firm has continued to make moves in the Web3 world. Today’s launch of Rabbids NFT avatars for Ethereum metaverse game The Sandbox.
The NFT release comes one year after Ubisoft initially announced plans to bring its popular Rabbids characters—which spun out of the classic Rayman game franchise—to The Sandbox. Ubisoft began the sale today for users who had already been added to an allowlist, while the public sale will commence on Wednesday. The drop is themed after the Lunar New Year, given that 2023 is the year of the rabbit, and the Rabbids will feature various designs that will be unveiled to buyers this Friday.
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📣 Emperia retail technology powers new SAXX immersive experience in the metaverse
This is an immersive experience in the metaverse, powered by Emperia, that allows shoppers to browse three-dimensional items in a 360-degree showroom. SAXX’s DropTempTM collection, which uses proprietary evaporative fabric to cool the body.
Upon entering, shoppers are transported to an oxymoronic environment where it’s snowing in the desert, highlighting the cooling qualities of DropTempTM. A short pathway lined with shoppable product displays leads to an open air showroom. More items can be found around the showroom’s swimming pool, including underwear, short and long sleeve tops, polos and hoodies with UPF 50 that can be worn in the water. unlocks another retail area consisting of a variety of prints from SAXX’s swimwear line.
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🖼 NFT marketplace Blur.io burns 252 ETH to hit top of burn leaderboard
NFT marketplace aggregator Blur.io has surpassed Uniswap, OpenSea, and Etherum transactions as the top ETH burner over the past 24 hours. Data shared by Access Protocol CEO Mika Honkasalo from Ultrasoundmoney highlighted that over 252 ETH was burned as a result of Blur.io activity between Feb. 18 and Feb. 19.
Blur.io is an NFT marketplace aimed at “pro traders” with the ability to sweep the floor of multiple marketplaces from one dashboard. Blur gained notoriety through its airdrop campaign in late 2022 and has since seen a meteoric rise in popularity. Analytics platform DappRadar placed Blur.io at the top of its leaderboard for volume over the past 24 hours as activity rose 41% to hit $114.34 million traded. This burn mechanic reduces the overall supply of ETH over time with the implication of increasing its scarcity and potentially increasing its value.
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🖼 Degen Zoo Attacks NFT Market With Zoo Frenzy
Recently, the development progress of an animal NFT game called Degen Zoo has received the attention of the community. The development of this game is similar to a hackathon. The game is completed within 30 days as a gimmick.
Degen Zoo attracted more than 100,000 Twitter followers in less than 30 days, and more than 10,000 people joined the official Telegram as a member. Built by DAO Maker founder Chris Zaknun and former Maker DAO development engineers, among others, the game will be developed on an ultra-low budget of only $20,000 and is scheduled to be developed in as little as 30 days. The game is inspired by the CryptoZoo NFT scam. The Degen Zoo project team hopes to complete the game construction.
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