NFTs & DeFi 🗓

2023-04-11 03:14:02 President of Ukraine Signs First-Ever NFT in the Country to Support its Military

According to a recent tweet from Iryna K, a Web3 Community Builder, President Volodymyr Zelenskyy of the Republic of Ukraine has signed the first Non-Fungible Token (NFT) in Ukraine. The approved NFT goes by the name UACatsDivision. The heroic cats of the Ukrainian Armed Forces are being honored through the UACatsDivision, the first-ever national NFT collection created in collaboration with the Ukrainian government. The Ukrainian government has invested in this NFT collection to support its military and armed forces. The proceeds from the sale of the NFTs will be used to purchase weapons and assist the country’s armed forces. This investment aims to bolster the nation’s security and ensure its military is well-equipped to defend against potential threats. Investing in this collection underscores the government’s commitment to strengthening the nation’s defense capabilities and supporting its military personnel. Ukraine’s foray into NFTs is the latest example of governments turning to digital assets to finance their operations.

NFTs | DeFi | News Open / Comment

2023-04-10 20:14:03 LFGSwap Announce New IDO for Wolf of Wall Street NFT Token

LFGSwap Decentralized Exchange (DEX) has announced the introduction of a new $WOW token backing its Non-Fungible Token (NFT) collection, Wolf of Wall Street. Following the introduction, the multichain DEX will launch an Initial DEX Offering (IDO) for the NFT token shortly. The $WOW token is specially designed for the NFT collection. According to LFGSwap's Medium publication, the aim of creating the $WOW token is to empower Wolf of Wall Street NFT. The $WOW token, when launched by the DEX, would be utilized by users for NFT customization, single staking, LP staking, and more. The token will also give users access to premium IDOs, yield farming opportunities, and governance rights. LFGSwap will give out 50% of the token to users via the IDO and use the remainder to develop its ecosystem while creating wealth opportunities for everyone. The $WOW IDO is the first on the DEX and will adopt the overflow method, allowing users to contribute any amount of its native $LFG token. The IDO will go live on LFGSwap's launchpad from April 12 to April 15 at 7:00 UTC, and $WOW trading will open on April 15 at 9:00 UTC. The DEX will release 100% of the tokens, as there is no vesting period.

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2023-04-10 16:14:02 APE Token Staking in NFT Pools Puts Investors at Risk, Says PeckShield

PeckShield, a blockchain security company, has issued a warning to users staking APE tokens in NFT pools after an exploiter bought a Bored Ape Yacht Club (BAYC) NFT and received staked APE associated with the sold NFT. Staking is a popular way for users to earn rewards by locking up their crypto assets in smart contracts. However, in the case of staking APE in NFT pools, there is a risk that the staked tokens can be lost if the associated NFT is sold. Notably, the exploiter with a wallet address initials “0x06800a” received 14.3k APE tokens of approximately $60k after buying BAYC 7810. The warning from PeckShield reminds users to be cautious when investing their crypto assets in NFT pools and to thoroughly research the mechanisms behind these investments. On the other hand, users of the SushiSwap protocol have been advised to reverse approvals or move their funds to a new wallet following a bug in the SushiSwap’s RouterProcessor2 contract. PeckShield captured the incident earlier today, stating that over 1,800 Ethereum tokens worth over $3.3 million have been lost.

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2023-04-10 10:14:03 Mintoo, PDAX team up to launch Pinoy artists in metaverse

A collaboration between Mintoo and the Philippine Digital Asset Exchange (PDAX) led to the launching of a new digital art collection for its Artist Series dubbed as “New Horizon.” The collection features a slew of thoughtfully-curated digital art masterpieces made by established and emerging Filipino NFT artists. PDAX CEO Nichel Gaba said these new digital assets will revolutionize their market as the country’s top cryptocurrency exchange app. “As a cryptocurrency exchange, we’re always looking for ways to innovate and provide our users with new and exciting opportunities. Having Mintoo on the PDAX app will expand our offerings to include digital collectibles and provide Filipinos with the tools and resources they need to participate in this market. This is something which is very timely since we believe that this new technology is on the verge of revolutionizing the way we think about ownership and value,” said Gaba. Meanwhile, Mintoo, a home-grown digital collectibles marketplace, saw the opportunity to help Filipino artists to enter and connect with the growing NFT industry.

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2023-04-10 03:14:03 NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases

Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week. NFT marketplace Looksrare announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare’s fees by 75% with v2. According to stats from Dune Analytics, Blur and Opensea traders dominate the market in terms of traders and market share in volume this week. Looksrare is the tenth-largest NFT marketplace in terms of traders and volume this week, according to metrics from Dune Analytics and Dappradar. Looksrare claims that users can save “~50% on gas fees compared to other marketplaces like Blur, and ~30% on gas fees compared to Looksrare version one.” In addition, Looksrare v2 will use ethereum (ETH) instead of wrapped ethereum (WETH). With Looksrare v2, users can make bulk purchases by adding “70+ NFTs to your cart.”

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2023-04-09 21:00:06 Meta Takes the Lead in Digital Collectibles as NFT Adoption Wanes

As of April 11, 2022, Meta announced that it will discontinue its NFT-sharing feature called ‘Digital Collectibles’, marking the end of a project that allowed users to display their NFTs on Instagram and Facebook. The feature was initially launched in May 2022 to better integrate the platforms into the digital collectibles ecosystem. By connecting a crypto wallet and sharing the compatible image- or video-based NFTs as a special type of post. Furthermore, Meta is not the only company that has dialed back its support for NFT integrations. Many other platforms have abandoned third-party support, and many companies that initially jumped on the NFT bandwagon have since curtailed their ambitions in the space. However, it is surprising to see Meta winding down the program less than a year after its launch, especially since the company rolled out integration for Solana wallets as recently as November 2022, suggesting a continued commitment to NFT compatibility. Despite this, that initial enthusiasm seems to have died.

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2023-04-09 16:14:02 75% of Crypto Holders Own NFTs, Survey Says

Over 75% of crypto holders own NFTs, a CoinGecko and Blockchain Research lab survey found. This high adoption rate is likely due to the fact that the audience for NFTs is a lot more mainstream than traditional crypto, according to co-founder of Arcade.XYZ Gabe Frank. Anthony Georgiades, co-founder of Pastel Network, added that while the 75% figure could be inflated, NFTs are starting to get snapped up by more traditional crypto enthusiasts. “NFTs certainly are more accessible and palatable than just general crypto overall. It’s easier to jump into the crypto space and ecosystem and just buy an NFT,” Georgiades said. The survey also suggested that of the people who own NFTs, just over a quarter are “avid collectors” — which according to the study, means they hold over 51 NFTs. FOMO, or fear of missing out, is a huge component behind this number, according to Georgiades. Georgiades agreed, elaborating that “it’s not just holding bitcoin. It might go up, it might go down and that’s it…They are very unique variables and collectibles. So it does become gamified in some way.”

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2023-04-09 10:14:02 The Rolling Stones one-of-one NFTs that aren’t NFTs

Instead of calling the limited edition NFTs, which accompany vintage, real-life photo slides, the companies handling the drop are calling them Digital Certificates of Authenticity, or DCOAs. The strategy follows recent trend to avoid using NFT terminology when launching a collection of digital collectibles targeting mainstream consumers. The companies managing the drop, OneOf and Globe Entertainment, are using the term Digital Certificate of Authenticity, or DCOA. The trend of companies shying away from calling digital assets or tokens with utility NFTs in favor of more generic terminology like digital collectibles appears to be gaining momentum, especially when geared towards mainstream consumers. A recent promotion for a Nicolas Cage vampire movie, Fox Entertainment using tokens as loyalty passes for fans of its show “Masked Singer,” and Reddit's avatars are all examples of NFTs being issued without using the term itself. NFTs have come to carry a negative connotation for many as scandal and major price deterioration have plagued the digital-assets market, causing some people to sour on the once hot space.

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2023-04-09 04:14:01 OpenSea Pro Hits Remarkable Performance With After Launch

This week, non-fungible token marketplace OpenSea launched a new platform OpenSea Pro (formerly Gem v2), aimed at professional NFT traders, aiming at top rival Blur. According to Dune Analytics data, after completing the brand upgrade, the active addresses and transaction volume of the NFT aggregator OpenSea Pro have increased significantly in recent days, with daily active addresses exceeding 2,900 and daily transaction volume exceeding $2.7 million. According to the documentation, OpenSea Pro will be the most powerful NFT aggregator, delivering various boats for different persons. OpenSea promises the platform will provide a new degree of optionality, selection, and control to fulfill the demands of professional traders. Importantly, the platform would collect NFT pricing from 170 different marketplaces, as well as provide live cross-marketplace data, rapid sales, advanced orders, and other capabilities. Besides, since the launch, almost 85,000 Gemesis NFTs have already been minted by our community. This is a significant number for the competition of today’s NFT marketplace platforms.

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2023-04-08 21:21:33 NFT Sales Rise 7.28% to $179.64 Million in 7 Days, Nakamigos Takes the Top Collection Spot

Sales of non-fungible tokens (NFTs) increased this week, with $179.64 million in sales over the last seven days. NFT sales rose 7.28% and transactions grew by 2.29% during this period, but the number of digital collectible buyers decreased by 4.34%. Solana’s NFT sales were the second-largest this week, accounting for $20.66 million, or 11.54%, of the week’s total sales. Ethereum-based NFTs increased by 8.68%, while sales of Solana-based NFTs dropped by 20.88%. NFT sales on Ethereum and Solana were followed by sales on the Polygon, Arbitrum, and Cardano blockchains. Two blockchains that saw notable increases over the last seven days include BNB Chain, which was up 19.73%, and Panini, which increased by 29.53%. Theta blockchain NFT sales rose by 232.96%, but the increase only accounted for $2,805 in NFT sales this week. The top-selling NFT collection this week is Nakamigos, with $11.29 million in sales.

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