Author: admin
Mark Cuban and Bored Ape Yacht Club creator Yuga Labs were among the major players speaking out Friday against NFT trading platform OpenSea, over the company’s Thursday announcement that it intends to sunset enforcement of creator royalties. “Not collecting and paying royalties on NFT sales is a HUGE mistake by OpenSea,” Cuban, the billionaire tech entrepreneur, wrote on Twitter Friday. “It diminished trust in the platform and hurts the industry.” Cuban’s words generally carry some weight in the NFT space, given the Dallas Mavericks’ owner’s public profile and longstanding involvement in the crypto industry. But they likely stung even more…
As part of their gradual move to their own chain, GYRI, Gala Games has migrated all of the Gala Games NFTs they were holding, and are now ready to distribute many of them via a limited edition ‘Mystery Box’ sale! With five rarities of Mystery Box, and over 350 different items inside, this could be a birthday in August for some lucky buyers! Gala Games has moved all of their held NFT inventory over to their own chain, and are now ready to empty some of those vaults with a Mystery Box sale! This is a big move for Gala…
Billionaire investor Mark Cuban criticized OpenSea’s decision to make royalties payment on non-fungible tokens (NFT) optional, describing it as a “HUGE MISTAKE” that would hurt the industry and diminish trust, according to an Aug. 18 tweet. NFT royalties On Aug. 17, OpenSea stated that it would stop enforcing creator royalty fees on secondary sales by the end of this month. Usually, NFT creators receive royalties with every sale of their assets on platforms like OpenSea. These royalties, capped at 10% on OpenSea, vary across marketplaces; LooksRare and SudoSwap, for instance, offer the option for creators to choose their royalty model.…
The NFT-backed loans protocol that lost nearly $12 million in crypto during the recent Curve exploit (and then paid a $1 million bounty to get most back) now has to decide how to fill the hole. JPEG’d is a NFT-collateralized crypto lending app that issues customers a derivative of ETH, called pETH, that’s tied to their loans. Hungry to earn extra interest, many of those customers parked their pETH in a protocol-endorsed liquidity pool on Curve, the popular trading protocol on the Ethereum blockchain. Their yield bet went bad when in early August exploiter drained that pool and others. But…
Billionaire investor Mark Cuban criticized OpenSea’s decision to make creator fees optional. “Not collecting and paying royalties on NFT sales is a HUGE mistake by OpenSea,” Cuban wrote on social media. “It diminished trust in the platform and hurts the industry. And I say this as an OpenSea investor.” As a response to someone in favor of removing NFT royalties, Cuban said “the buyer knows what the royalties are before they buy it. The creator can set the royalty to zero. They are part of the smart contract that mints the NFT. It’s not smart. It’s desperation.” Optional royalty approach…
Zynga, one of the most well known names in casual gaming, opened up a web3 gaming division known as ZW3. Now, they announce their first release, a gaming platform called Sugartown! Sugartown is a new web3 gaming platform being built by ZW3, the web3 gaming division of Zynga. This platform will be the central location for ZW3 created games, but it seems they may also want to encourage user generated content. Now whether that includes full game stack development, or just mods and customizations for the Zynga games is still unknown. In fact, we don’t really have many details on…
SAGE Labs has emerged as an extension of the Star Atlas universe, providing players with a browser-based open-world experience. Rooted in real-time gameplay, it promises a world of limitless action and a thriving economy. The release highlights the gaming ecosystem’s continued developments within the Web3 industry. It also widens the reach of the Star Atlas economy to enthusiasts worldwide.One of the features of SAGE Labs is its economic loop tailored for play-to-earn (P2E) players. It serves as a gateway for Web3 gaming fans to engage in immersive gameplay experiences that transmute their in-game efforts into tangible value. This transformation is…
Unveiling the Sei Network Sei Labs raised the curtain on its mainnet beta, a promising Layer-1 blockchain, on Aug. 15. In the heart of this launch lies the SEI governance token, which now has a market capitalization of $292.5 million and a fully diluted valuation reaching $1.625 billion. The SEI token has already found its spotlight on prominent exchanges like Binance, Bybit, Huobi, and Kraken. According to reports, SEI’s trading volume on day one surged to $1.14 billion, with top performers Upbit and Binance leading the exhilarating race. Due to the high demand for $SEI tokens, the protocol decided to…
The monthly trading volume for tokens based on the Bitcoin Ordinals protocol has nosedived by over 97% since May 2023. Ordinals offer the unique proposition of generating fungible (BRC-20s) and non-fungible tokens (NFTs) on the Bitcoin blockchain. These assets surged in popularity throughout the second quarter of this year. Trading volume peaked in May at $452 million but has rapidly fallen since then, according to a DappRadar report. June saw Ordinals trading volume plunge 76.5% to $106 million, the report said. July and August saw a complete reversal of May’s trading fervor. Trading volume in July receded month on month…
The partnership, announced in April of this year, has taken a tangible form as several fortunate NFT holders have confirmed the receipt of their unique pendants. The collaboration between Yuga Labs and Gucci has captured the attention of both the cryptocurrency and fashion worlds, signaling a new era of convergence between digital assets and luxury items. The “KodaPendant” NFT series was unveiled earlier this year, comprising a limited edition of 3333 pieces, each intricately designed and corresponding to a physical necklace. With the NFT market continuing to expand, the fusion of these two industries has been a tantalizing prospect for…
