money / 85 posts found
Ryan Carson Faces Backlash For ‘Flux’ Web3 Fund. What Went Wrong?
The Alpha On February 3, 2023, Ryan Carson, a prominent Web3 builder and Proof Collective’s former COO, announced a new Web3 fund called Flux. In a now-deleted tweet announcing the fund, Carson stated that he intended to raise $10 million through 100 investors and claimed that 21 spots were already gone. NFT community members, including those listed as investors, quickly noticed irregularities in Carson’s announcement. In short, Flux’s official website stated that all investors had to contribute $160,000 at minimum. If 100 individuals invested that much, it would equal a total raise of $16 million — $6 million more than […]
The NFT Community Reacts to the Rise of Open Editions
So far, the defining Web3 conversation of 2023 has been about open editions (OE). 3D animator and crypto artist NessGraphics broke records when they dropped Money Printer Go BRRRRRR and raised over 1,404 ETH ($2 million) in one hour. Likewise, Victor Mosquera’s January 29 OE drop for The Collector raised 224 ETH (nearly $400,000) in the span of 90 minutes. These exceptional sales volumes, coupled with a clear statistical uptick in the number of OEs being minted in the last month, opened up a passionate debate in the NFT community about the supply, value, and utility of an artist’s body […]
NFT Sales Are up 43%, but Are We Really in for a Bull Run?
The 2022 bear market left many in the NFT ecosystem bruised and battered. Sales plummeted, prominent figures left, and consumer brands began to grimace at the thought of launching their own non-fungible offerings. But it seems the new year might’ve brought about some change. As the new year rolled around, the NFT market is starting to trend upward. The global markets’ NFT sales volume is up 43 percent this month, according to data from Cryptoslam. With project floors on the rise, coin prices pumping, and open editions becoming all the rage, community sentiment has also been up in a big way. […]
Masa Finance Brings Soulbound Tokens to Ethereum. Here’s What to Know
To Ethereum Co-Founder Vitalik Buterin and his cult-like following, Soulbound Tokens (SBTs) are the future. Proposed by Buterin and his fellow authors via a white paper entitled “Decentralized Society: Finding Web3’s Soul,” the vision of SBTs is for a fully decentralized society (DeSoc) to make use of non-transferable identity and reputation tokens. Yet, for most, a DeSoc still seems quite far off, leading to the assumption that SBTs must also be a ways away. But even so, in response to Buterin’s paper, many took the cause of bringing SBTs to reality into their own hands. And now, one such entity has […]
Here Are 10 Influential Collectors You Should Be Following in 2023
With the new year comes new opportunities, renewed excitement, and of course, fresh problems. While 2023 has yet to hit the NFT space hard in any respect, general blockchain enthusiasts are undoubtedly preparing to ride the ups and downs of the NFT market for another year. But for the truly devout, seasoned collectors, the new year also brings with it a chance at greatness. While both established creators and the up-and-comers featured in nft now’s Next Up nail down their minting plans for the year, collectors both big and small are looking to execute profitable flips and collect elusive grails. But not […]
Solana’s Bonk: A Guide to the Latest Meme Token to Rival Doge
The last 12 months have been rough for Solana, to put it lightly. Once regarded as a cleaner and greener alternative to Ethereum, following 2022’s Earth-moving Merge that saw the NFT community’s most widely-used blockchain finally shift to the more energy-efficient proof-of-stake consensus mechanism, Solana lost one of its most significant advantages over its biggest competitor in the NFT space. Couple this with a massive August 2022 hack that saw more than 8,000 Solana crypto wallets emptied of millions of dollars in SOL, along with controversy regarding the stance of its flagship NFT marketplace Magic Eden on creator royalties. If […]
Four Luxury Brands Bringing Their Loyal Followings to Web3
It’s a well-known fact that individual NFTs have often sold for hundreds of thousands, if not millions of dollars through the years. Whether it’s a particularly rare piece from collections like the Bored Ape Yacht Club, or a new piece from an acclaimed artist like Beeple, high-value NFTs are a prominent feature of Web3. Given how NFTs have gradually established a warm relationship with luxury goods, several brands catering specifically to luxury markets have firmly established themselves in the NFT space. But it goes deeper than just entering a market prepared to shell out considerable sums of cash, though. NFTs […]
The Biggest Lawsuits Dominating the NFT Space Today
To say the past few months have been utter chaos in Web3 would be a massive understatement. It’s almost as if the crypto and NFT bear market hasn’t been enough of an existential threat. With thefts, rug pulls, and even insider trading dominating the worst of 2022’s Web3 headlines, it’s no wonder that one word has been trending to dangerous heights in the space over the past months. That word? Lawsuits. Even the threat of one has been enough to cause a stir in Web3, considering how a potential suit against crypto exchange Binance flooded recent headlines. With so many […]
BREAKING: Sam Bankman-Fried Was Just Arrested Over FTX Collapse
Moments ago, authorities in the Bahamas announced that Sam Bankman-Fried (SBF) was arrested. If you haven’t been following the FTX saga, SBF is the Founder and Former CEO of FTX, a cryptocurrency exchange that recently collapsed and lost billions of dollars. Most of the money belonged to customers. According to a press release issued by the Office of the Attorney General, SBF was brought into custody by The Royal Bahamas Police Force after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government. The press release also noted that the government […]
ApeCoin Staking Is Live: Here’s Everything You Need to Know
It’s official, ApeCoin staking is live, and as of December 12, the first $APE rewards have accrued. But whether you’re an early Bored Ape holder that claimed every subsequent Yuga Labs airdrop, or an NFT enthusiast who only recently purchased their first bit of $APE, staking can seem like a daunting task. A process that has long been a facet of the crypto industry, if done right, staking has the potential to be a significant win for token holders. But if mishandled, it can have catastrophic consequences. With so much misinformation being circulated throughout the metaverse, it’s become more important […]