Culture / 400 posts found
Inside Axie Infinity: A Deep Dive Into the World’s Largest P2E Game
Axie Infinity isn’t just one of the biggest play-to-earn (P2E) games out there — it’s also one of the biggest NFT projects in the entire community, full stop. In large chunks of the world, Axie Infinity reigns supreme as the single most popular NFT. When it launched in March 2018, it presented users with an offer that almost seemed too good to be true: the chance to earn real money by playing a game. However, Sky Mavis’ Poké-clone has seen a rough couple of months. The company is still reeling following a March 2022 hack that saw hundreds of millions […]
Two Kinds of Major Rug Pulls You Need to Know
A rug pull is a specific type of scam in the NFT world. It happens when the developers of an NFT project maliciously lure in a community of investors and then quickly abandon the project, making off with the money in the process. This can happen when the founders steal away with project funds after launching the project, but also if they sell off their pre-mined holdings. In either case, it’s a way of siphoning money from the community, leaving investors with an NFT that has no utility or community behind it, and sometimes, no NFT. But only two kinds […]
Stealth Addresses? Vitalik Buterin Wants to Let NFT Owners Go Anon
Ethereum founder Vitalik Buterin wants to implement stealth addresses for ERC-721 tokens — or Ethereum’s current token standard for NFTs, according to a Monday tweet. With the implementation of this feature, users can transfer, mint, and burn NFTs with relative anonymity, as described in the ethresear.ch page Buterin linked in his initial tweet. Anton Wahrstätter — researcher and lecturer at the Institute for Distributed Ledgers and Token Economy (WU), who also researches at the Research Institute for Cryptoeconomics — wrote the research behind Buterin’s tweet. In turn, Wahrstätter drew inspiration for his proposed stealth addresses from a January blog post […]
Instagram Is Expanding NFT Support to 100 Countries
Following test runs earlier this year in select markets, Instagram is expanding its NFT support to 100 additional countries across “Africa, Asia-Pacific, the Middle East, and the Americas,” according to a Thursday blog post. Thanks to the image-sharing platform’s status as a Meta-owned entity, this move could bolster the tech giant’s hopes of broadening its authority in the NFT industry. This is Instagram’s latest move toward serving users as an NFT marketplace, and it’s only a matter of time before Facebook follows suit should Meta’s NFT roadmap for its various properties come to fruition. View this post on Instagram A […]
The Art World Has a Problem. But NFTs May Offer ‘a Real Solution’
NFTs are bringing new possibilities and opportunities to artists in ways the traditional art world has never offered. With the advent of the technology, a new art ecosystem formed, free of many structures artists typically navigate just to reach an audience, let alone succeed. In crucial ways, the blockchain leveled the playing field, and suddenly anyone could take part in the new creator economy. NFT projects built from the ground up on Discord and other social media channels brought together like-minded individuals and fostered exciting new possibilities for distributing the digital artwork these communities love and the flow of capital […]
Exclusive: Major League Soccer Signs Bored Ape NFT as an Athlete
Major League Soccer — the US’ official soccer league (or “football league” if you’re in any other part of the world) — just announced a notable new signing: Striker, a Bored Ape NFT. The news was just announced in an exclusive release shared with nft now. The one-of-a-kind signing was conducted by a division of Get Engaged called ge3. Through the deal, the team hopes to tap into the growing interest the sports world has taken in NFTs over the past few years. Before Striker got packaged into a virtual athlete, he was simply known as Bored Ape #6045. Get […]
The Top Music NFT Moments of All Time
In 2020, the COVID-19 pandemic effectively cut musicians off from all of their primary sources of income. Live shows ended, merchandise sales slowed to a crawl, and the money stopped coming in. The months dragged on, and things didn’t get better. But then a new kind of music art came onto the scene, and in 2021 the inevitable occurred — the music industry embraced non-fungible tokens (NFTs). We say this move was inevitable with good reason. Artists, especially independent musicians, were more than eager to find alternate revenue streams. What’s more, the music industry is — and always has been […]
How the Cryptostrikers Artist Elevated Indonesian Pop-Art With NFTs
Web3 is still in its salad days, but it’s already brimming with potential, despite the bear market. Creators are building novel use cases for NFTs like clockwork, but it’s essential to keep an eye on positive impact in life and global culture. For example, NFTs are changing how we interact with music, in addition to how artists’ work is perceived and valued. They’re bringing species back from the brink of extinction. They’re even inspiring communities to rethink our relationship with cultural icons of the past. But a more ambient (and transformative) use-cases for NFTs is the proliferation of cultural traditions […]
Japan’s Central Bank Has Abandoned Its Digital Currency Plans
The Bank of Japan (BoJ) is scrapping its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest, according to an initial report from Asia Times. Among other things, this means one aspect of Japan will remain unchanged since the Japanese bubble economy of the 1980s: its reliance on conventional, fiat-based currency. This move came despite the promise of CBDC, which could be the first truly peer-to-peer digital form of conducting money transactions, as existing digital wallets still require the presence of intermediary institutions like financial institutions, issuing and acquiring banks, payment service […]
Gucci Will Now Accept Bored Ape Yacht Club’s Cryptocurrency
The luxury fashion retailer Gucci will now accept ApeCoin — the Bored Ape Yacht Club’s proprietary cryptocurrency — as a valid mode of payment in select US branches, according to a Tuesday tweet. Given ApeCoin’s origins as a limited, claimable cryptocurrency originally intended for Bored Ape and Mutant Ape holders, this partnership aims to offer holders of these esteemed NFTs and cryptocurrency a new way to represent their community IRL — via garments from the legacy high-fashion brand. In recent years, Gucci has been gradually planting its roots in Web3. In 2021, Gucci contributed to the massive bull run in […]