NFT & Crypto Updates

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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2022-07-23 06:05:14 OpenSea Debuts Solana NFT Launchpad to Lackluster Demand

In an apparent attempt to match rival Magic Eden’s feature set, OpenSea has rolled out its new launchpad feature for minting new Solana NFT projects. However, the leading NFT marketplace’s first drop on the launchpad has been far from a sizzling success from the start. Zoonies, an alien-themed Solana NFT profile picture project, debuted on OpenSea’s new Solana launchpad yesterday, marking the first project to utilize the feature. A launchpad lets collectors mint (i.e. generate and purchase) NFTs during a primary sale.

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2022-07-22 20:30:22 TIME plans out converting subscribers over to NFTs

Speaking to CNBC, Time Magazine’s President Keith Grossman laid out a pretty bullish idea for integrating NFTs into the nearly one-hundred-year-old company – turning subscribers into online owners of its unique cover art.Of course, this aspiration is exactly that. But, as Grossman explains, TIME has already been hard at work with its TIMEPieces NFT series. During the interview, Grossman explained how companies have gotten into the tempo of consumers as ‘renters’ of content and services.

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2022-07-22 16:40:29 Minecraft Creators Will Stop Supporting In-Game NFTs

It doesn’t matter that the world’s largest video game companies like Activision or Tencent are making inroads into the world of NFTs; the developers of Minecraft want those tokens as far as possible from their blockbuster game. On July 20, Mojang Studios, the team behind Minecraft, said that it will not support or allow the use of non-fungible tokens (NFTs) in the game. According to the company’s statement, the use of blockchain technology and NFTs do not fit Minecraft’s values of creative inclusion and co-play, as they allow players to earn rewards through other actions outside of the game.

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2022-07-22 09:15:12 Ethereum NFT Whale Loses $150K on a Meme Gone Wrong

Ethereum Name Service (ENS) names—effectively, domain names that point to crypto wallet addresses—are gaining value as desirable names sold as NFTs trade hands. But today, a noted NFT collector is down over $150,000 worth of ETH after a “joke” bid on an ENS name was actually accepted. The pseudonymous collector Franklin, who owns 57 valuable Bored Ape Yacht Club NFTs, had registered the ENS name stop-doing-fake-bids-its-honestly-lame-my-guy.eth using an alternate Ethereum wallet on Tuesday, and then today placed a 100 WETH (Wrapped Ethereum) bid—that’s nearly $151,000 right now—on it using his main wallet.

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2022-07-22 05:13:36 Volvo previews its Metaverse for XC40Recharge Launch on 26 July

Volvo India previews its metaverse called VolvoVerse for the launch of the XC40 Recharge on 26th July. The first-full electric SUV from the Swedish manufacturer will arrive in India via the CKD route. Thus, joining the brand’s line-up of locally-assembled petrol-hybrid models. The XC40 Recharge is built on the same CMA platform that also underpins the XC40 petrol-hybrid model. It is powered by a 78.4 kWh battery mated to a dual-motor set-up, and the power output is rated at 408 hp with 660 Nm of torque.

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