NFT & Crypto Updates

2022-08-27 00:01:49 Reddit Is Airdropping Free Polygon NFT Avatars to Its Most Hardcore Users

Popular online discussion platform Reddit is leaning harder into blockchain technology, and recently announced that it would launch a series of NFT avatars based on its Snoo character. But now, in addition to selling the tokenized avatars, Reddit is also now giving some away to its most avid users. Recently, a Reddit administrator announced that the platform will airdrop free NFT avatars to users who have earned a considerable amount of karma points—a score that represents their contributions to Reddit communities.

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2022-07-25 16:10:02 Dubai's New Metaverse Strategy Could Be a Huge Catalyst for This Crypto

Finance has New York. The internet has Silicon Valley. And now the metaverse has Dubai. The largest city in the UAE just announced a jaw-dropping new metaverse strategy that envisions Dubai as one of the leading cities in the world for everything related to crypto, blockchain, online gaming, and non-fungible tokens. After all, it wasn't some obscure tech guru making the big Dubai metaverse announcement -- it was the Crown Prince of Dubai himself.

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2022-07-25 09:01:01 NFTs are coming for the loyalty perks programs at brands like Budweiser

NFTs, or non-fungible tokens, have come for just about every corner of the Internet and every business willing to throw money at what’s been dubbed “Web3” — a hypothetical, future version of the net based on blockchain technology.As they do, Hang, a new B2B startup in the fledgling space, is looking to help some of the world’s largest brands. Last week, the company announced that it raised a $16 million Series A funding round led by crypto venture firm Paradigm, which holds a stake in some of the largest crypto players, including FTX, BlockFi, and Coinbase.

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2022-07-25 05:12:02 GameStop is Selling an NFT Based on 9/11

GameStop is a known retailer of video games, accessories, and more, but for many years, former and current shoppers have been curious about its future. It’s no secret that the shift to digital games has impacted GameStop’s bottom line, and it has publicly been trying to recreate its brand/image for a couple of years now. It should be noted that this is not an open NFT platform, so not anyone can go on it and sell NFTs. GameStop has to approve each individual NFT creator following an application process. So, while GameStop may not be directly responsible for this 9/11 NFT.

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2022-07-24 17:21:46 CBI is the first UAE bank to be in the Metaverse

CBI, a UAE based corporate and retail bank, is the first ever bank in the UAE and among the first early adapter banks in the Middle East region as well, to open a virtual Metaverse location in Decentraland, a popular blockchain based world. Commenting on the planned launch of CBI’s Metaverse location, Ali Sultan Rakkad Al Amri, the CEO of CBI said: “We are proud to be the first ever bank in the UAE and among the first innovative banks in the Middle East region to bring the Metaverse experience to our customers and people.

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2022-07-24 11:20:02 Fans seek trust and better understanding of sports NFT market: Research

The heavy involvement of the sports ecosystem is what expedited nonfungible tokens’ (NFT) mainstream adoption as the teams and players leveraged the technology for fan engagement. However, sports fans revealed their interest in moving beyond the hype and making investments based on knowledge about NFTs and trust in the issuers. The prolonged crypto winter razed off the inflated floor prices across the NFT ecosystem, inadvertently changing investor sentiment and forcing users to rethink their long-term investment strategies.

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2022-07-24 06:39:11 Chinese Tech Giant Tencent to Shut Down NFT Platform Amid Trading Restrictions

China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch. The social media giant has reportedly made the decision because of the strict ban on the resale of NFTs imposed by the authorities in Beijing. Shenzhen-headquartered technology conglomerate Tencent is preparing to shut down its NFT platform as early as this week, according to a report by Chinese media outlet Jiemian, quoted by the South China Morning Post.

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2022-07-23 20:50:16 Uniswap Will Integrate Sudoswap To Access Deeper NFT Liquidity

Uniswap is diving deep down the NFT rabbithole. The automated market maker is integrating decentralized NFT marketplace Sudoswap to allow for efficient NFT swaps when it launches its NFT platform. The news was shared by Scott Gray, head of NFT product at Uniswap Labs. Sudoswap’s automated market maker sudoAMM was released on July 8. Automated market makers allow digital assets to be traded automatically using liquidity pools rather than a traditional marketplace that needs to match buyers with sellers.

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2022-07-23 15:40:12 Samsung Electronics Owns 2nd-largest Number of Metaverse Patents

Microsoft has been found to be the company with the largest number of patents related to the metaverse. It was followed by Samsung Electronics. Microsoft and Samsung own 158 and 122 patents on the metaverse, respectively, according to IALE Technology, a Spanish consulting firm. The metaverse refers to a virtual world based on virtual reality (VR) and augmented reality (AR) technologies. The two companies were followed by Magic Leap, IBM, Disney, Meta (formerly known as Facebook), Adobe, Verizon, Intel and Snap.

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2022-07-23 09:59:54 Epic Games 'definitely won't' follow Minecraft NFT ban

As previously reported, Minecraft developers Mojang Studios banned NFT integrations on July 20 as it believes the speculative aspect of NFTs, along with scarcity and risks of exclusion and scams supposedly associated with NFTs being against the game’s principles. The move was seen as highly controversial in the NFT community, while it has been met with praise by the cohort of crypto-skeptic gamers. The community driven play-to-earn (P2E) platform has an entire crypto and NFT ecosystem built around it, with its NFTs generating 51,000 Ether (ETH), or $80.8 million worth of trading volume to date.

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