Author: Jeremy Ryan

A recent study by Galaxy Digital has tipped the Bitcoin NFT marketplace to hit $4.5 billion in market cap in the next two years. This is due to the growing interest among the NFT community to inscribe/mint various types of data on Satoshis, the smallest unit of a Bitcoin.Data from Dune Analytics shows that there have been over 323,000 inscriptions so far. An impressive feat for Ordinals, a project that launched just over a month ago. The interest has been so strong for Bitcoin NFTs that Yuga Labs decided to launch its own collection on the network.Now a report dated…

Local authorities in Singapore announced they had begun a probe connected to Do Kwon’s Terraform Labs.According to a Bloomberg report, Singaporean police sent an email on March 6, which said, “investigations have commenced in relation to Terraform Labs.” The email also added that the inquiries are “ongoing,” and Do Kwon is not currently in the city-state.Last month, on Feb. 16, the United States Securities and Exchange Commission (SEC) accused Kwon and Terraform Labs of fraud in a new lawsuit.Some voices in the crypto space have criticized the lawsuit as a way for the SEC to go after stablecoins with future…

Top NFT marketplace, Magic Eden, has launched ‘Mint Madness,’ a grand gaming event that offers free NFT mints for over a dozen Web3 titles. This exceptional opportunity will take place throughout march, with the games spread out over three networks.In total, Magic Eden will support 13 free Web3 games spread across the Ethereum, Solana, and Polygon blockchains. All of which have been developed by both traditional gaming studios and Web3 native creators and feature non-fungible tokens for in-game items. Some of the titles that are part of this series include Planet Mojo, a gaming Metaverse, and Shrapnel, a popular AAA…

Blockchain Scroll, an Ethereum Layer 2 network that uses zk-rollups technology, raised $50 million in a new funding round. Investors in the round included Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners, Scroll said Monday. Scroll declined to comment on the valuation and the structure of the round, but a source with direct knowledge of the matter told The Block that the round brings Scroll’s valuation to $1.8 billion. Scroll previously raised $33 million in two funding rounds and hadn’t disclosed its valuation then. The new round brings…

Blockchain New Dapp on the BNB Block Lifeform, a visual digital ID solutions provider supported by Binance Labs, has skyrocketed up the ranks of Decentralized Applications (dApps) on BNB Chain. Attracting nearly 200,000 Unique Active Wallets (UAWs) in the past week, Lifeform snagged third place on DappRadar’s list of BNB dApps. Source: DappRadar Lifeform allows users to create hyper-realistic human avatars (and cartoon counterparts) that are saved as cross-chain Non-Fungible Tokens (NFTs) that store decentralized identification information. The avatar editor tool is powered by Unreal Engine 5 but has a simple user interface. More than 1.5 million of the cartoon…

NFT CAR BAR, an electric car rental platform using non-fungible tokens (NFTs), has been launched. CAR BAR launches in Dubai In a press release, CAR BAR, a platform by Yard Hub, a Web3 venture studio, will integrate NFTs and allow people in Dubai to rent luxury electric cars. A notable difference between CAR BAR’s and traditional car rental services in the UAE is that their daily rates will be between 30 and 40% cheaper. Moreover, the solution will empower fleet owners to tokenize and track their cars in real-time. The launch of CAR BAR gives users premium access to rental…

NFT Tech giant Amazon to reportedly launch its NFT marketplace next month, with 15 NFT collections already available from the launch date. According to sources, Amazon plans to launch the “Amazon Digital Marketplace” on April 24. The platform will start offering the service to U.S. customers first and will gradually roll out to other countries. According to the source, Amazon will start offering about 15 NFT collections on the launch day itself. Moreover, the NFT collections will be available on Amazon’s website and can be seen by clicking the “Amazon Digital Marketplace” tab. NFTs will only be purchased from the…

Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial.The Central Bank of Iran (CBI) has completed a pre-pilot phase in the development of Iran’s CBDC, according to an official statement by CBI’s research arm, the Monetary and Banking Research Institute (MBRI).Mohammad Reza Mani Yekta, head of the CBI office for supervising payment systems, announced the news at the ninth annual conference on electronic banking and payment systems on Feb. 20. He noted that Iran’s central bank plans to increase the scope of the CBDC pilot in…

Nonfungible token (NFT) company Yuga Labs faces criticism from the cryptocurrency community, including the creator of Bitcoin Ordinals, over how it plans to auction its new Bitcoin NFT collection. On March 5, Yuga opened bids for its “TwelveFold” collection, which will see 300 NFT-like images inscribed on satoshis using the Bitcoin-native Ordinals protocol, with 288 from the collection sent to the highest 288 bidders.The auction for TwelveFold has begun and will conclude on the block immediately prior to 3pm PT tomorrow, March 6th, 2023. Good luck.https://t.co/gvl8IHpekC pic.twitter.com/xGWU9jdCoO— Yuga Labs (@yugalabs) March 5, 2023 According to a March 5 press release, those…

NFT Yuga Labs Bitcoin NFT offering has kicked off with a bang. The firm behind Bored Ape Yacht Club (BAYC) NFTs opened bids for its first 300-piece Bitcoin NFT collection, called TwelveFold, early Monday morning. TwelveFold follows fast on the heels of the recent excitement around non-fungible tokens (NFTs), notably Ordinals. But unlike Ethereum-based NFTs, buying artworks built on the premier crypto network doesn’t have an open marketplace. Thus, the current auction process has earned criticism from some users, including the inventor of Bitcoin Ordinals, Casey Rodamor. How to buy Bitcoin NFTs The auction process requires interested TwelveFold buyers to…