NFT & Crypto Updates

2023-09-28 10:02:59 Pudgy Penguins NFT Launches Toys in 2,000 Walmart Stores, Trading Volume Surges by 530%

Popular NFT collection Pudgy Penguins has launched its Pudgy Toys collection in 2,000 Walmart stores across the United States. The toys, which have been available online since May, are expected to see a significant boost in exposure with their presence in Walmart. Each Pudgy Toy will come with a unique birth certificate that enables owners to claim exclusive traits for their digital 'Forever Pudgy' character within Pudgy World. “Pudgy Penguins is bridging the gap between our physical and digital worlds of play for kids in a really engaging way,” said Brittany Smith, vice president of merchandising – toys, Walmart U.S. According to data from CoinGecko, the NFT collection has registered 1,033 ETH (worth around $1.6 million) in trading volume over the past day, up by 530%. The floor price of the collection has also surged over 11% to 5.2 ETH (worth around $8,200), while its market cap reached 46,008 ETH ($73 million). Walmart's position as the largest retailer in the U.S. and one of the world's largest companies by revenue in 2022 will undoubtedly enhance the collection's popularity beyond the crypto industry. Pudgy World, an immersive multiplayer digital environment, allows users to explore, play games, and fully customize their Forever Pudgy character.

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2023-09-28 04:02:59 Florida Judge Dismisses Case Against NFT Artist Over Million-Dollar Deal That Never Was

A Florida judge ruled in favor of the digital artist Danny Casale in a breach of contract suit brought by the web3 collective DigiART, which claimed that the two had a year-long profit-sharing agreement on initial drops of Casale’s NFT projects. According to the suit, DigiART claims Casale gave the company exclusive rights to market and sell any NFTs the artist made between May 2021 and May 2, 2022. In exchange for DigiART’s marketing prowess, Casale would split the net profits of his NFTs evenly with the company. In the judgement, Judge Wendy Berger outlined a blow-by-blow account the events that led to the lawsuit and the reason for her decision. Marcel Katz, who since January 2021 had worked as Casale’s “east coast representative” for his physical artworks via his company Art Plug, asked Casale if the artist would like to form a second partnership, one strictly based on the sale of NFTs called DigiART. Casale agreed to that proposal. After the two had come to terms about splitting profits and secondary sales, a DigiART representative emailed Casale a draft agreement. While there were details in the body of the email regarding the profit-sharing structure, it had no start date. Casale signed the agreement on April 30, 2021, with the start date still blank.

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2023-09-27 21:02:59 Banxa and Animoca Brands To Provide Seamless NFT Transactions for Sports Fans

Banxa, the leading payments infrastructure provider for the crypto-compatible economy, has integrated with AFL Mint and Be. by Animoca Brands, the digital entertainment, blockchain, and gaming powerhouse, to streamline and enhance the digital collectible purchasing process for Australian Football League (AFL) fans. This initial pilot project creates the potential to eventually integrate Banxa’s infrastructure into Animoca Brand’s impressive portfolio of games, decentralized apps, and more. Banxa's NFT Checkout and on/off ramp integration will enable new accessibility within the AFL Mint Marketplace to anyone with a bank card. Through AFL Mint, devoted followers of Australia’s most popular sport have an exciting, novel avenue to collect digital video moments showcasing their favorite players and teams. Additionally, they can connect with fellow fans within the vibrant AFL Mint community. This collaboration enables AFL fans to further engage with their favourite teams and athletes. Seamless user experiences are essential for smooth online transactions. Banxa's innovative solution not only simplifies the purchase procedure but also enhances conversion rates and the speed of transactions.

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2023-09-27 16:03:00 UK Politicians Adopts Metaverse Avatars For Web3 Roadmap

During a landmark virtual gathering on September 20th, a group of British government officials and Lords took the metaverse to share their vision for the UK’s blockchain and Web3 industries. The event was attended by global leaders from 51 nations, highlighting both the potential and challenges presented by the rapid growth of Web3 technology. One of the eight prominent British politicians, Natalie Elphicke participated in the metaverse conference. Moreover, Elphicke is calling for more global cooperation and plans to use blockchain technology and stated that less than 12 countries have presented their plans for blockchain technology. The importance of advancing the National Blockchain Roadmap which was released in 2021 was also highlighted in her statement. The said roadmap aims to create a digital nation using blockchain where the technology will be used for different agendas like addressing the issue of climate change, connecting industries, and improving digital identity systems. It only shows that this development underscores the government’s commitment to ensure safety and security online as they explore and promote emerging technologies such as Web3.

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2023-09-27 10:03:00 Cypher Metaverse Inc. Announces Next Steps in Proposed Business Combination With Agapi Luxury Brands Inc.

Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce that it has entered into a binding definitive agreement ("Definitive Agreement") dated August 29, 2023, in respect to a business combination (the "Transaction") with Agapi Luxury Brands Inc. ("Agapi"). It is expected that upon completion of the Transaction, the combined entity (the "Resulting Issuer") will meet the listing requirements for an industrial issuer under the policies of the CSE Venture Exchange (the "CSE"). The Transaction is expected to be completed by way of a share exchange, which will result in Agapi becoming a wholly-owned subsidiary of CODE. the holders of Agapi Common Shares will receive 0.7601 common shares of the Resulting Issuer in exchange for each of their Agapi Common Shares, (the "Exchange Ratio"); all outstanding Agapi warrants will be replaced with equivalent convertible or exchangeable securities of the Resulting Issuer entitling the holders thereof to acquire common shares of the Resulting Issuer; CODE will change its name to such name as determined by Agapi in its sole discretion, in compliance with applicable law and as may be acceptable to the CSE.

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2023-09-27 04:03:00 Desi partners with AI lifestyle metaverse platform

A robotic humanoid musician has joined forces with an AI lifestyle metaverse platform to create a virtual entertainment experience for fans. Desi, the robotic humanoid musician, and LightCycle have come together to help revolutionise how music stars and artists connect with fans in the virtual realm. Edwin Eyre, the co-founder of Yaya Labs, said: "We are thrilled to announce our exciting partnership with LightCycle, the groundbreaking virtual city powered by Unreal Engine 5 and real-time edge rendering. "Our flagship product, Desi the robot, will play a pivotal role in enhancing user experiences within LightCycle. With cutting-edge AI technology and blockchain security, Desi will seamlessly integrate into this multi-industry virtual hub, offering users and merchants an unparalleled and immersive cultural experience. Meanwhile, Sara Ezen, the CEO of LightCycle, has described the cutting-edge technology and its potential impact as being "next-level". Sara said: "Desi has shown the world what is possible through the limitless possibility of AI and how it can enhance creativity in the music world. It’s mind-blowing to see this in action, as she ad-libs through her spellbinding performances.

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2023-09-26 21:03:00 Metaverse in Gaming Market worth $119.2 billion by 2028, growing at a CAGR of 39.3%: Report

The global Metaverse in Gaming Market size to grow from USD 22.7 billion in 2023 to USD 119.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 39.3% during the forecast period, according to a new report by MarketsandMarkets . The Metaverse in gaming Market is fuelled by rising demand for online gaming. The substantial global in-game Metaverse Gaming Market suggests many consumers are familiar and comfortable with making transactions in virtual worlds. Metaverse is a virtual world that technologically includes virtual reality working synchronizing in real-time scenario—characterized by persistent virtual worlds that continue to exist even when user is not involved—as well as augmented reality that combines aspects of the digital and physical worlds. However, it doesn't require that those spaces be exclusively accessed via VR or AR. The scope of the report covers the metaverse gaming market by component, hardware, software, game genre, and region. Among component, the market has been segmented into hardware, software and professional services. Major growth drivers for the Metaverse Gaming Market are availability of affordable hardware and use of MR devices in gaming.

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2023-09-26 16:03:00 Reddit Released Digital Avatars, Honoring NFL Teams

Non-fungible tokens (NFTs) offering a digital representation of any asset created its strong positioning in the offline and online world. These digital tokens have the capability to develop a transparent system of ownership and create an irreplaceable position in the field of art, games, and metaverse. The launch of digital collectible avatars by Reddit on Wednesday best explains the admiration of NFTs in the gaming world. Reddit, one of the preferred social networks, jumped into the pool of NFTs, launching a wide range of NFT collectibles. “The NFT collection is one of the largest collections in the range of collectibles Avatars priced at $25 per NFT” announced Reddit. The recently launched collection follows a free set dropped along with the league’s championship game. Fans of Super Bowl champion and the Philadelphia Eagles champion chiefs may be aware of the NFT-themed avatars, Reddit added. Super Bowl LVII NFT was launched by Reddit in February 2023. Around 1.3 Million NFT avatars have been minted in a few days including 500K in one day alone. Also, the Super Bowl avatars were offered free of cost to all Reddit users. Now, the platform is again in highlights due to the new collection launch. The newly arrived collectibles may serve as a unique way to represent the teams in comment sections, taking sports to new heights.

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2023-09-26 10:03:00 Magic Eden Revolutionizing Compressed Solana NFTs for Expansion

Recent news on Magic Eden just shocked the NFT industry. The news was about the integration of Magic Eden with the Compressed Solana NFTs for economic minting. Launched in September 2021, the platform is the most popular NFT marketplace over the Solana blockchain, offering high rivalry to Ethereum. The platform is planned to integrate Compressed Solana NFTs into the marketplace for economic minting and fulfilling the emerging demands of NFT enthusiasts. The majority of the NFT holders are looking for cost-effective and scalable solutions, expecting to develop a new era of digital collectibles. Traditional NFT projects running over the Solana network have a data storage approach that involves higher costs during the minting procedure. To minimize the minting cost and make the NFTs more affordable to enthusiasts, Magic Eden decided to work with the Compressed Solana NFTs (cNFTs). As the name suggests, these NFTs are designed to compress the data and store it on an off-chain network. The process simply minimizes the minting fees, making it a better option for NFT enthusiasts looking for affordable collections. The approach also attracts NFT creators to design digital items for mass manufacturing. The method is best suited for mass production of digital collectibles offering different options to users, including music, events, gaming, and the metaverse.

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2023-09-26 04:03:00 Solana’s 1 NFT Market Surpasses NFT Projects Running on Ethereum

Solana, a blockchain platform offering smart contract functionality using a proof-of-stake mechanism, has created a strong position in the crypto as well as NFT ecosystem. Launched in March 2020 by Anatoly Yakovenko, the platform is performing well and has achieved new heights in the increasingly competitive landscape. Solana surpassed Ethereum in the NFT industry. One of the main reasons behind this is Solana’s user-friendly and cost-effective blockchain. The blockchain is not only speedy but also has incredible access. The blockchain, when combined with the NFT landscape, offers a new recipe that is more delicious than ever. The blending of Solana with the NFT is highly appreciated, offering mass adoption. Based on the recent news, the blockchain has rocked the NFT stage with its outstanding performance. However, Ethereum NFTs are also performing well in the NFT industry, giving tough competition to Solana and other blockchains. According to DeFiLlama, one of the biggest analytics panels for various DeFi protocols, Solana’s present total value locked (TVL) is around $306.8 Million. Solana is performing well, as per the recent analysis and reports.

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