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A nonfungible token (NFT) collector is taking legal action against the OpenSea NFT marketplace for several allegations, including being locked out of his account for more than three months after being a victim of a phishing scam. OpenSea user Robbie Acres told Cointelegraph that after his NFTs were stolen through a phishing scam, he immediately reported it to the NFT marketplace. However, the NFT collector claims to have met a lot of difficulties. Acres explained that: “They took over 48 hours to respond, by which time the stolen assets had been sold as the buyer significantly undervalued them in prioritizing pace…

NFT Chinese crypto blogger and journalist Colin Wu, who often shares news from the crypto space on his Twitter handle, has written that the NFT collection created by automobile giant Porsche has abruptly jumped after the lack of interest from the community faced by the company just recently. Porsche NFTs on fire Wu reported that after issuing a series of non-fungible tokens, 7,500 NFTs are planned to be minted at the price of 0.911 ETH per token. However, the car-making behemoth faced poor interest from fans of this type of digital collectible. The price reacted to that, dropping to 0.87…

NFT Transaction volumes on Optimism, a scaling solution for Ethereum, have dropped 70% following a major spike earlier. The daily transactions have declined to 238,000 after a peak of almost 800,000 transactions per day on Jan. 12, according to data from blockchain explorer Blockscan. The fall in activity coincided with the end of an incentive program called Optimism Quest, which aimed to increase user engagement and educate users about the Optimism Layer 2 network. The surge in on-chain activity during Quest was said to have been associated with speculations on a second airdrop by the Optimism team, according to a…

NFT sales volume is up for the second consecutive month, eliciting excitement within the Web3 community. Now even the most optimistic can’t help but wonder if the bear market is over. It’s been a torrid 2022 for NFTs and the crypto market in general, with most projects losing nearly all of their value.However, 2023 seems promising for the Web3 space, as data from various marketplaces indicates. According to Dune, an analytics platform, OpenSea has recorded back-to-back monthly Ethereum NFT sales volume rises in over one year.The NFT marketplace has managed to process over $320 million in Ethereum NFT trades this…

It is without question that music is a powerful medium with the ability to evoke strong emotions and serve as a way for people to connect with each other in large communities. For many, music serves as a source of inspiration, comfort and escape from the challenges of everyday life. For others, music is a medium for reflection and provides the opportunity to speak to social and cultural issues, allowing fans to feel a sense of belonging and identification with the messages expressed in a song.The resulting emotional connection to music can lead to the creation of impressive fandoms, as…

Blockchain XRP community members wonder how the crypto can work as a bridge currency for CBDCs as the race to find a solution for CBDC interoperability in cross-border payments heats up. Attorney Jeremy Hogan, who has built a reputation as an XRP supporter, today shared some chat artificial intelligence (AI) provided answers on how the XRP Ledger can interact with central bank digital currencies (CBDCs). The lawyer did this in response to questions from a user on Twitter on how XRP can serve as a bridge currency for CBDCs. Firstly, Hogan, sharing the AI-based answers, noted that CBDCs could be…

The Manchester United Copying Incident is on the minds of many netizens today, as one of football’s biggest teams is called out. The incident happened after Manchester United dropped its second collection on Tezos for $36. Shortly after, artist DesLucrece took to Twitter to note similarities between the football team’s artwork and their own collection. DesLucrece’s “Monsters” NFTs have a floor of around $20,000. Manchester United’s “The Devils” are involved in a Copying Incident. Credit: DesLucrece. What is the Manchester United Copying Incident? The incident centers around the artwork used in the Manchester United “The Devils” collection and DesLucrece’s “Monsters.”…

Lawmakers in the Arizona State Senate are considering a bill aimed at having voters decide whether virtual currency should be exempt from property taxation.In legislation introduced in the first session of the Arizona State Senate in 2023, Senators Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed having Arizona residents decide on amending the state’s constitution in regard to property taxes. Should the measure pass the legislature, voters could choose in November 2024 to make virtual currency — specifically tokens that are not “a representation of the United States dollar or a foreign currency” —  tax-exempt.Under Arizona’s constitution, all federal, state,…

Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has fallen victim to a phishing scam leading to more than $1.1 million worth of his personal NFTs stolen.The NFT creator and PROOF co-founder shared the news with his 1.6 million Twitter followers on Jan. 25, asking them to avoid buying any Squiggles NFTs until his team managed to get them flagged as stolen. I was just hacked, stay tuned for details – please avoid buying any squiggles until we get them flagged (just lost 25) + a few other NFTs (an autoglyph) …— KΞVIN R◎SE (,) (@kevinrose) January…

We are only a few weeks into the year but something interesting appears to be happening with the popular play-to-earn game, Axie Infinity. Recent data shows that its number of active users has jumped by an impressive 59%. This represents a massive comeback not just for Axie Infinity itself, but also for the play-to-earn model as a whole. Is P2E Experiencing a Comeback?As many of us might recall, play-to-earn games saw a bit of a slump last year, partially due to the crypto winter. Its decline after having a successful 2021 run even led to some declaring the niche as dead.However,…