web3 / 509 posts found
NFTs Are Crashing (Again). Here’s Why.
The NFT space isn’t what it used to be. This has become painfully obvious to those within Web3 over the past few months. From controversial memecoin escapades to overwhelming regulatory initiatives, the magic of the metaverse has been palpably waning throughout 2023. As it stands, the current state of the non-fungible ecosystem is a far cry from the market highs that helped kick off the year. Yet, this round of “NFTs are crashing” feels different than times past. With this bout, the causation behind NFTs slowing down feels more nuanced. Rather than fear, uncertainty, and doubt (FUD) leading the market […]
Coca-Cola Serbia and SolSea Team Up to Launch Branded NFTs
Coca-Cola Serbia is partnering with Solana NFT platform SolSea to present a unique NFT experience at the Exit Festival in Novi Sad, Serbia through July 9. At the heart of this collaboration lies the Magic Mirror activation from NFT infrastructure protocol All.Art. This digital installation, which will be located in the Coca-Cola Serbia zone at the festival, promises to transform how attendees interact with brands and merchandise. The Magic Mirror and more As a participant stands in front of the Magic Mirror, they’re virtually dressed in a random selection of merchandise in real-time 3D. Capturing this moment is as simple […]
Animoca Japan Partners With Weebox, a New Brand for Anime and Manga Collectibles
In an exciting development for anime and manga enthusiasts worldwide, a newly-established digital collectible brand, Weebox, has unveiled its anime realm, San FranTokyo. The innovative venture is the brainchild of Animoca Brands Japan, a leading figure in the anime and manga industry. Weebox’s CEO, Daisuke Iwase, also serves as the current CEO of Animoca Japan, where he brings a wealth of experience developing NFTs and digital collectibles with a focus on popular anime, manga, K-Pop, and J-Pop. The core team at Weebox also boasts NFT industry veteran, Fabiano Soriani, serving as the Chief Technology Officer. Soriani’s resume includes being an […]
Lacoste’s UNDW3 Introduces “The Mission,” a Dynamic NFT Quest
In early June, every Genesis Pass NFT from Lacoste’s Genesis NFT collection featured an identical design. But as a fashion company, unique aesthetics matter, so their NFTs are getting an upgrade — one that goes far beyond looks. The Genesis Passes have now evolved into the UNDW3 Card (pronounced “underwater” card), marking a shift in the brand’s approach to community engagement. With the upgrade to UNDW3 Cards, holders (who refer to themselves as “crocodiles”) can change the rarity, value, and look of their NFTs through interactive on-chain and off-chain activities. The more holders participate, the more features and utilities they […]
Could Blur Token Farming Tank the NFT Market?
Few entities have shaken up the Web3 landscape as much as the NFT marketplace and aggregator Blur has in the last year. In November of 2022, it began to consistently rival OpenSea, the previously undisputed NFT marketplace champion of the past six years. By February 2023, it had left the platform in the dust, outpacing OpenSea by as much as $400,000,000 in weekly trading volume. Blur owes its success to a few things; it addressed a major gap in the market by providing a frictionless way to trade NFTs in large numbers via a no-frills interface featuring tools that appealed […]
South Korea Advances Crypto Investor Safeguards With New Bill
In a significant move to bolster investor protection, South Korea’s National Assembly recently approved the Virtual Asset User Protection Act, the country’s first legal framework devoted to digital assets. The legislation, an amalgamation of 19 proposals from lawmakers, is expected to come into effect in one year, according to the Assembly’s official website. The South Korean government’s initiative is led by a bipartisan group of lawmakers, reflecting the country’s broad commitment to regulating the burgeoning crypto industry. The legislation aims to define digital assets, impose penalties for unfair practices, and ensure that service providers meet specific requirements designed to safeguard […]
Hong Kong Establishes Web3 Development Task Force
Authorities in Hong Kong have established a dedicated task force aimed at promoting the development of Web3. The initiative, announced by the Government of the Hong Kong Special Administrative Region, signals the city’s determination to position itself as a leading player in the Web3 space. Led by Hong Kong’s financial secretary, Paul Chan, along with other government officials and regulators, the task force comprises 15 non-official members, including industry experts and key figures from the financial sector. Becoming a Web3 hub Hong Kong has been striving to become a Web3 leader, with the announcement of an official policy statement on […]
Blockchain Association: SEC Chair Gensler Legally in the Wrong
The Blockchain Association, a prominent crypto advocacy group, has published a paper expressing its concerns over the role of Securities and Exchange Commission (SEC) Chair Gary Gensler and the legitimacy of his statements and enforcement actions on the crypto industry. The group argues that Gensler’s involvement in digital asset matters should be reconsidered, citing a perceived bias and a failure to provide clear guidance as their primary concerns. The association, in an open letter, has put forth the claim that Gensler is overstepping his authority granted by Congress. “While this anti-crypto campaign has intensified, the SEC has let slide one of […]
Azuki Plans Community Vote to Revamp Elemental Backgrounds
Following criticism that the art of the Elementals was too similar to the original Azuki collection, Azuki has responded by announcing a plan to host a community vote to introduce variety in the backgrounds of the NFTs. This announcement was made on the project’s Discord stage on June 29 at 6 p.m. ET, drawing a substantial audience with over 1,500 listeners present. The types of background changes will tentatively include changes in background texture, environments, the exclusion of neutral backgrounds, line-based designs, and graphics with gradient effects. Concepts for backgrounds Steamboy, art director and co-creator of Azuki, presented the community […]
Why Are People Burning CryptoPunks for Ordinals NFTs?
On June 17, CryptoPunk #8611 was permanently removed from circulation. The NFT, which had recently sold for 54.49 ETH (just over $94,000 at the time), was soon after transferred to an Ethereum burn address, meaning it can never be recovered. From there, the asset was inscribed on the Bitcoin blockchain as an Ordinal, that ecosystem’s equivalent of an NFT, and then sent to a Satoshi wallet. Moreover, anyone who burns a Punk will receive an allowlist spot for a new Bitcoin Ordinals collection: Ordinal Maxi Biz. The event has raised Web3’s collective eyebrow, and for good reason. Punk #8611 isn’t […]