NFTs & DeFi 🗓

2022-09-02 21:43:01 ConsenSys to Launch 'Sustainable' NFTs Celebrating the Ethereum Merge

The merge is cause for celebration,” ConsenSys announced on Thursday. And to kick off the festivities, the blockchain firm will release “one of the first sustainable NFT drops on the Ethereum mainnet” called Regenesis. ConsenSys partnered with artist Chris Skinner and animation firm Keithcity Group to design the collection. ConsenSys is one of 22 strategic investors in Decrypt. The collection’s primary theme, sustainability, will showcase Ethereum’s “ambitious re-architecture” of the Web3 world as well as its purported “2000x” improved efficiency.

NFTs | DeFi | News Open / Comment

2022-09-02 14:25:08 FASB crypto accounting rules to exclude NFTs, some stablecoins – WSJ

The Financial Accounting Standards Board (FASB) will not include NFTs and some stablecoins in its crypto accounting review, The Wall Street Journal reported on Aug. 31, citing sources. According to the report, the FASB rule will cover digital assets that are intangible, fungible, and don’t carry any contractual rights to cash flow. NFTs will be excluded from the rule because they are nonfungible and sometimes carry rights to underlying goods and services, while some stablecoins are tangible assets. Companies and investors holding digital assets have repeatedly clamored for more clarity on accounting for crypto assets in their portfolios.

NFTs | DeFi | News Open / Comment

2022-09-02 08:22:54 NFT trading volume on OpenSea drops to 1-year low as crypto winter strikes

As concerns about the possibility of a market bubble mount, OpenSea, the world’s largest non-fungible tokens (NFTs) marketplace, has seen a significant decrease in the daily quantities of its trades. Notably, trading volume on the NFT marketplace fell as low as $10.05 million as of August 26, the lowest since July 2021, marking a one-year low as the effects of the crypto winter take hold. According to the most recent data from DappRadar shows that volume had marginally improved to $13.49 million as of August 30. Interestingly, this volume is a big difference from that seen in May 2022, when NFT trading volume on OpenSea surged as high as $405 million.

NFTs | DeFi | News Open / Comment

2022-09-02 02:40:04 No Monkey Business for Bored Apes as Token Collection Hits All-Time High

The Bored Ape Yacht Club non-fungible token (NFT) collection has hit a new all-time high, according to data from Dune Analytics. The floor price of the record-setting NFT collection from Yuga Labs reached 176.989 ETH, according to user analysis. The analysis also revealed that BAYC reached a two-month-high in terms of median price, at 440.51 ETH. In contrast, the median price for rival NFT collection CryptoPunks reached a two-month low, at 33.73 ETH. With $2.4 billion in total sales, BAYC managed to surpass CryptoPunks earlier this week by achieving the top spot in overall sales. Comprising 10,000 unique NFT digital collectible ape avatars, BAYC did not perform especially well after initially launching in April 2021.

NFTs | DeFi | News Open / Comment

2022-09-01 21:13:22 Andreessen Says Its 'Can’t Be Evil' NFT Licenses Will Help Avoid Legal 'Ambiguity'

Many popular NFT projects—most notably the Bored Ape Yacht Club—grant holders the right to use their owned images to create and sell derivative artwork and products. However, there are questions over whether such IP licenses are legally durable, or if creators have even misled buyers. Venture capital giant Andreessen Horowitz says it wants to help. The VC firm today announced the release of “Can’t Be Evil” NFT licensing terms that are available for any project creators to freely use. The licenses provide an array of different approaches for NFT projects, ranging from limited personal use terms to broader licenses that let anyone use the artwork for any purpose—even if they don’t own an NFT.

NFTs | DeFi | News Open / Comment

2022-09-01 15:50:09 Kevin Rose’s Proof Raises $50M, Plots Token and Moonbirds NFT Expansion

Proof, the Web3 startup behind the Proof Collective NFT membership club and valuable Moonbirds NFT collection, made a bevy of announcements today during its Future Proof streaming presentation—including sizable funding, new NFT initiatives, and plans for a token. The firm, which was co-founded by Digg creator Kevin Rose. Announced that it has raised $50 million in Series A funding in a round led by VC giant Andreessen Horowitz. It follows a $10 million seed round from Seven Seven Six—the VC firm of Reddit co-founder Alexis Ohanian—which was announced in April following the hot Moonbirds launch.

NFTs | DeFi | News Open / Comment

2022-09-01 10:25:05 An NFT Marketplace Is Letting Buyers Avoid Royalty Payments. Creators Aren’t Pleased

Royalty payments have become a cornerstone of the growing non-fungible token (NFT) industry, allowing artists to make money when people resell their work, venues to capture revenue on secondary marketplaces for NFT tickets and musicians to subvert streaming services in favor of more lucrative, blockchain-driven products. But there’s a problem: Royalty payments are only enforceable on a marketplace level, and not on-chain.

NFTs | DeFi | News Open / Comment

2022-09-01 02:30:22 Get ready for the feds to start indicting NFT wash traders

Securities and Exchange Commission regulators should move to protect investors from traders who distort the NFT market with manipulative trades — and they probably will soon. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry. In wash trading, manipulators buy and sell an asset between themselves to create the appearance that the asset is in higher demand and, therefore, worth more than it would be otherwise. With NFTs, wash trading is fairly straightforward: Imagine an investor holds $1 million in Ether (ETH).

NFTs | DeFi | News Open / Comment

2022-08-31 22:25:10 Twitter brings back suspended NFTs accounts as Solana threatens to pause ad spend

Twitter suspended access to nine accounts associated with promoting nonfungible tokens, or NFTs, on the Solana (SOL) ecosystem. The move comes just ahead of the highly anticipated launch of the y00ts NFT collection, a follow-up to DeGods, the most popular NFT collection on Solana, this Friday. The said accounts have been reinstated and are accessible as of 12:00 pm EST. No official explanation was given as to why the accounts were suspended in the first place, or why they were reinstated shortly afterward.

NFTs | DeFi | News Open / Comment

2022-08-31 18:30:57 Limit Break’s DigiDaigaku NFT collection rises by over 100% as firm raises $200m

The floor price of Limit Break free mint NFT DigiDaigaku rose to 15.67 ETH after news emerged that its parent company raised $200 million in two funding rounds, according to nftgo data. According to the data, the 24-hour trading volume of the collection spiked by over 400% to reach around $4 million. Apart from that, its market cap also increased by 130% to reach $48 million. Limit Break, a Web3 gaming startup focused on building massively multiplayer online (MMO) games, raised $200 million in two funding rounds. The company announced this on August 29, revealing that Josh Buckley, Paradigm, and Standard Crypto led the funding rounds. The gaming startup was founded by Gabe Lydon and Halbert Nakagawa, who were both previously at Machine Zone.

NFTs | DeFi | News Open / Comment