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2023-08-21 13:06:55 Nickelodeon NFT Creator Recur Shutters Its Platform – Accused Of Hard Rug Pull

Recur, the digital asset incubation studio and the team behind non-fungible token collections such as Hello Kitty and Nickelodeon, has announced shuttering its trading platform. In this article, we shall look at the future of Nickelodeon and other NFTs now that the digital asset firm has locked its platform. In an August 18 blog post, the web3 platform Recur confirmed shuttering down its NFT market platform, describing its bearish move as a tough decision. The Nickelodeon and Hello Kitty NFT creator has set a final closer date on November 16, 2023.

Established in 2021, Recur is a Web3 platform known for assisting major enterprises in launching innovative, multi-chain digital collectible experiences. The digital asset firm has launched some of the most popular NFT projects, including Rugrats, Hello Kitty, Star Trek, Hey Arnold, and Nickelodeon NFTs. In the meantime, Recur has halted all cross trading among different blockchains. The web3 firm has announced to have removed all NFT metadata and media to Filecoin’s decentralized storage network before the end of November this year. This decentralized storage protocol will ensure NFT metadata remains accessible on the platform. Crypto investors have until mid-November to offload their outstanding balances using the USDT feature on portal.recur.com.

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2023-08-20 12:43:20 Opensea investor Mark Cuban says NFT marketplace removing royalties is a 'huge mistake'

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.

OpenSea announced yesterday that it would disable its royalty enforcement tool, OpenSea Operator Filter, and make creator fees optional for new collections starting after Aug. 31. The platform said it was making the change to do away with the "ineffective, unilateral enforcement" of NFT royalties — without removing them completely. "The optional royalty approach kills future applications that go far beyond collectibles," Cuban added. "Which is where the most money will be." 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."

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2023-08-18 15:35:16 Grimace PFPs: McDonald’s Offers Free Exclusive Grimace NFTs

McDonald’s has given us a beautiful gift for Grimace lovers – NFTs! Following the buzz around Grimace Shakes that set TikTok abuzz, the fast-food giant is launching a giveaway of limited-edition NFT profile pictures (PFPs) featuring the lovable purple monster. However, there is a catch – these NFTs cannot be traded once minted. Plus, this innovative move is set to take place exclusively in Singapore. McDonald’s releases limited-edition Grimace PFPs. The NFTs are only available in Singapore.

Starting from August 21, McDonald’s regional arm will offer a total of 2,000 unique NFT collectibles. Each of these portrays Grimace with different expressions and accessories. Therefore, each NFT is a one-of-a-kind item. The NFTs are completely free to claim, but they will only be accessible through the McDonald’s mobile app in Singapore. To mint the NFTs, you must connect your wallet to the Ethereum mainnet. Additionally, the NFTs are “soulbound” tokens, meaning that you cannot transfer them. As a result, secondary sales are not possible, ensuring that these NFTs remain as cherished mementos for McDonald’s customers.

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2023-08-17 19:46:44 Changing Fundraising with Polkadot: TeddyDaoNFT’s Web3 Charity NFT Initiative

Last month, Lucky Friday Labs, a Web3 software developer, introduced an innovative philanthropic initiative named the Teddy DAO Foundation. This initiative revolves around an on-chain NFT collection named Teddy DAO, developed in collaboration with the renowned online fundraising platform JustGiving and MoonbeamNetwork, which employs Polkadot’s proof-of-stake consensus mechanism.

Since its inception, it has successfully garnered more than $8,000. It positions itself as a “socially beneficial NFT project” dedicated to creating a positive impact. Teddy DAO conducts auctions for its unique NFTs featuring teddy bears every day. These NFTs, crafted by digital artist Yumi and established on the cross-chain smart contract platform Moonbeam, will be up for bidding. Those who win the auctions can direct the funds generated to any of the 400 charitable organizations endorsed by JustGiving. Users can endorse various charitable organizations, including Cancer Research UK, Alzheimer’s Society, British Red Cross Society, and ActionAid.

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2023-08-16 13:50:12 Parallel: Revolutionizing Trading Card Games with NFTs

Delving into Parallel’s narrative, it transports players into a dystopian future where humanity, in its quest for technological mastery, pushes the boundaries and ends up devastating Earth. Consequently, humans scatter across space, splitting into five distinct factions. Each deck you own provides you with 40 NFT cards, encompassing all you require to dive into the game. The deck components are diverse, including one-time spells (effects), creatures (units), unit boosters (upgrades), and more sustained impacts (relics).

There are four primary gameplay modes: Rookie, AI, Unranked, and Ranked. Among these, the Ranked mode stands out, not only because of its competitive nature but also as it offers the exclusive chance to earn $PRIME. The more NFT cards you possess in your deck during a ranked match, the better your $PRIME earning potential. Setting aside the NFT and crypto elements, Parallel emerges as a genuinely engaging and fun game. This isn’t merely a crypto-enhanced game—it’s a quality gaming experience on par with leading titles. With sleek menus, immersive sounds, and fluid animations, Parallel offers an experience that can rival top-notch games in the card genre.

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2023-08-13 17:33:30 Bored Ape Yacht Club collectors sue Sotheby’s over NFTs auction

Sotheby’s was named as a defendant in a class action lawsuit filed in California last week alongside Yuga Labs, the creators of the Bored Ape Yacht Club NFTs. In the lawsuit, a group of investors claim they were misled about the NFTs, which feature colourful illustrated apes produced by an algorithm and peaked in value in late 2021. In September of that year, Sotheby’s sold 101 Bored Ape Yacht Club NFTs in an online auction for $24m against a $12m to $18m pre-sale estimate.

The lawsuit claims Sotheby’s played a part to “deceptively promote the artificially inflated” value of the NFTs. Sotheby’s endorsement of the NFTs helped Yuga Labs gain a sense of legitimacy among traditional collectors, according to the lawsuit, while attracting a younger audience. After the sale Max Moore, Sotheby’s head of contemporary art auctions, allegedly said the NFTs had been purchased by a traditional collector, though the complaint filing claims the images were purchased by FTX, the cryptocurrency exchange that has since crumbled. Stars like Paris Hilton, Justin Bieber, Jimmy Fallon, Madonna and even Mike “Beeple'' Winkelmann, the digital artist behind the most valuable NFT ever sold at auction, were also named as defendants in the lawsuit.

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2023-08-12 10:27:03 Canada to develop repository for storing crypto and NFT seizures

The Royal Canadian Mounted Police is seeking a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens. The Royal Canadian Mounted Police (RCMP) is seeking a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). According to an announcement, a tender was opened for applications on Aug. 10 for a solution to store seized digital assets. Canadian law enforcement started using specialized software from Chainalysis to trace crypto while investigating cybercrimes.

The RCMP demands 17 requirements from the future repository. Among them is the ability to process transactions for the top 20 cryptocurrency blockchains by market capitalization and the scalability to support new blockchains in the future. The RCMP also intends to grant access to its data to users who need it. As for NFTs, the RCMP has deemed it necessary to enable the holding of Ethereum, Solana and Polygon-based NFTs. Other features to be included in the repository are security considerations, such as the protection of private keys, secure disposal process and daily automated verification. A native mobile application will also be developed on Android.

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2023-08-09 16:15:06 OKX Wallet Users Can Now Access Origin Protocol, an NFT and DeFi Platform

OKX, a leading Web3 technology company, has issued updates for August 8, 2023. OKX Wallet has now integrated with Origin Protocol, a Web3 protocol that aims to bring NFTs and DeFi to the masses. With this integration, OKX Wallet users can access Origin Protocol's solutions - such as its NFT launchpad and Ethereum liquid staking capabilities - via web extension. OKX Wallet Users Can Now Access Origin Protocol, an NFT and DeFi Platform

OKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace. On 7 August, 2023, OKX Wallet announced that its account abstraction-powered Smart Account, which enables users to pay for transactions with stablecoins USDC and USDT and interact with multiple contracts in a single transaction, is now open source across seven blockchains. A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike.

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2023-08-07 14:51:02 Mech Shooter 'MetalCore' Is 'Titanfall' Meets 'Destiny' With an NFT Twist

MetalCore is an online shooter that combines Destiny's open world with the intense mech combat of Titanfall—but with an NFT twist that allows you to own your vehicles and infantry characters. The aim in MetalCore is to complete missions, collect resources, and level up to craft vehicles, infantry characters, or mechs—a robot suit that helps you traverse the map and deal more damage. You can later mint these as NFTs via Immutable zkEVM, an upcoming Ethereum scaling network.

MetalCore makes an immediate impression with its impressive graphics and appealing mech play, although there’s still room for improvement—and given its current alpha testing state, there’s time for developer Studio 369 to smooth out the rough edges. I recently tried out the game’s prologue demo and Alpha 3 playtest to get a sense of how MetalCore is shaping up. MetalCore’s prologue is a 10-minute tutorial that nicely introduces you to the basics of the game. This is clearly the most polished part of the game that I played, and it showed promising signs as one of a growing crop of upcoming NFT games that look and feel like truly premium experiences. MetalCore’s dystopian future world is beautifully presented despite the terrain having a naturally dull color palette.

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2023-08-06 12:14:54 FBI warns of scammers posing as NFT devs to steal your crypto

The FBI warned today of fraudsters posing as Non-Fungible Token (NFT) developers to prey upon NFT enthusiasts and steal their cryptocurrency and NFT assets. In these attacks, the criminals gain unauthorized access to NFT developer social media accounts or create nearly identical accounts to promote "exclusive" NFT releases. This allows them to lure targets with misleading claims of "limited supply," labeling the promotions as "surprises".

Unsuspecting victims click on the provided links only to be redirected to phishing websites that masquerade as legitimate extensions of specific NFT projects. The scammers go to great lengths to replicate the appearance and user experience of real NFT platforms, making it harder to notice that they're actually phishing landing pages. On these fraudulent websites, victims are prompted to connect their cryptocurrency wallets for NFT purchases. However, this seemingly innocuous action sets off a drainer smart contract that transfers their cryptocurrency and NFT assets into the criminals' wallets. FBI urges NFT enthusiasts to exercise caution when engaging in NFT-related activities:

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