money / 85 posts found
Art or Investment? The US Government’s New Policy on NFTs
The United States Office of Government Ethics (OGE) has issued new guidance regarding non-fungible tokens (NFTs). In a legal advisory issued earlier this week, the OGE expanded its initiative aimed at preventing conflicts of interest in the highest levels of the US government. The new requirement? Senior officials must disclose the NFTs they own. Ultimately, this new guidance raises important questions about whether NFTs are viewed as art or investments by the US government. New rules for Web3 Every year, US politicians need to file statements containing details about their personal finances. These documents are declared to the public and […]
Some of the Most Successful Fundraising Efforts By NFT Projects
When NFTs experienced a massive bull run in 2021, many people looked at the dollar signs and saw an opportunity — not to fill their own pockets, but to do some social good. Since then, NFTs have emerged as one of the best ways to fundraise for important causes — from reproductive rights to supporting underrepresented artists. And for good reason. Source: LVCIDIA There are plenty of advantages when it comes to utilizing NFTs as a fundraising tool. The most obvious is that, by using NFT auctions to raise money, donors receive something in return: an NFT. Through these NFTs, […]
The Biggest Rug Pulls in NFT History
The term “rug pull” doesn’t have any positive connotations. Either someone is going to fall on their face, furniture is going to topple over, or, in the case of the NFT world, a lot of people are going to lose a lot of money. A rug pull scheme is what happens when crypto developers attract early investors to a project and then quickly abandon it. This happens either by taking off with the project funds or selling their pre-mined assets. In either case, this is done to siphon all the funds from the community that bought into the project. After […]
Fire Sale Imminent? Three Arrows Capital Has $7.5 Million in NFTs
In the wide world of Web3, hacking attacks are far from the only threat you need to worry about with regard to the security of your assets. For some, particularly for those dealing with portfolios totaling in the millions, the biggest threat can be the market itself. This is particularly true in the case of financial entities in Web3. Since its foundation in 2012, Singapore-based crypto hedge fund Three Arrows Capital (3AC) has amassed a portfolio of digital assets valued at over $10 billion during the peak of 2021’s bull market. Following news from late June that they’d defaulted on […]
The Incredible Staying Power of CryptoDickbutts NFTs
CryptoDickbutts was born in 2021, and it quickly cemented its place in NFT history and culture. At this point, it’s an essential project that every self-proclaimed NFT aficionado must be familiar with to be taken seriously. Need proof? CryptoDickbutts has a dedicated space in Punk6529’s Open Metaverse, more than 1700 unique holders, and a total volume of over 7k ETH on OpenSea. The NFTs regularly sell for thousands of dollars, and during the 2022 NFT market collapse, it was one of the few projects that kept the same floor price. How did a project that is literally about dick-butts achieve […]
How to Determine What NFTs to Buy: A Must-Read Guide
One of the most challenging aspects of buying and selling NFTs is finding the right one to purchase. Choosing the perfect NFT for your collection can be as simple as browsing a marketplace in search of art you enjoy (much like browsing through items on Amazon). This is where many people get their start in the NFT world. But NFTs offer a lot more than just art. Smart contracts in NFTs (bits of computer code that allow them to be minted and traded without third parties) let owners access unique assets contained within the NFT, manage their transferability, and more. […]
eBay Just Acquired a Major NFT Marketplace
eBay has made considerable headway into the Web3 space since it first started selling NFTs on its site in March 2021. In May 2022, the e-commerce giant launched its own NFT collection. Today, June 22, the company announced that it has officially acquired KnownOrigin — an NFT marketplace that has generated over $7 million in trading volume since its launch in late 2018. The news was broken via the marketplace’s official Twitter account, which made the announcement in a series of tweets earlier today at 8:41 a.m. EDT. 1/7 The mission was simple: could we build a new platform that […]
BREAKING: FBI Charges OpenSea Employee With Insider Trading
A former OpenSea employee has been charged with insider trading by the FBI. Insider trading is one of the oldest and most pervasive white-collar crimes in existence, making this arrest one of the first instances of conventional laws being applied to punish bad actors in the NFT space. The nature of the crime Earlier this morning, former OpenSea product manager Nathaniel Chastain was arrested in the city of New York for allegedly using confidential knowledge gained from his post working for the marketplace to his advantage. Specifically, he’s been charged with one count of wire fraud, and one count of […]
The 10 Most Expensive NFT Collections and Why They’re Valuable
It’s easy to forget quite how young the NFT space is. One of the most popular projects out there, the Bored Ape Yacht Club, only came onto the scene in 2021. That year, the market exploded, with nearly $41 billion of crypto spent on NFT marketplaces — CryptoPunk #7523 sold for $11.7 million, Bored Ape #3562 sold for more than $1.6 million, and Cool Cat #1490 sold for $1.4 million. These projects might have seen significant financial successes, but which of the world’s most expensive NFT collections also have staying power? We’re here to find out. We examined the most expensive […]
Should You Buy An NFT? Should Anyone?
In July of 2021, OpenSea, one of the most popular NFT marketplaces in the world, was valued at $1.5 billion. That staggering number had grown to $13.3 billion in January 2022. And despite the drops that we’ve seen in the market, the demand for NFTs is clearly high. But even though the appetite for crypto art has exploded in the past year and new buyers are entering the ecosystem at an unrelenting pace, the market is rife with skepticism. In many cases of NFT ownership, we’re talking about digital files, after all. How is owning such an NFT any different than […]