Meta & NFT

2022-10-30 13:00:12 Scammers Spread Fake Reddit NFTs on OpenSea


OpenSea has delisted a suite of counterfeit Reddit NFTs purported to exploit the hype generated by the social media giant’s foray into Web3.
The popularity of Reddit’s official NFT Collectible Avatars shot up dramatically this month, with daily transaction volume setting a new record on Sunday of over $2 million.
Reddit’s NFTs provide certain perks (such as standing out in comment sections), but its biggest draw allows users to own their display avatars (profile pictures) and trade them via marketplaces such as OpenSea.
But the platform has, so far, let at least one fraudulent NFT collection —- the images of which had apparently been right-click saved — mingle with the legitimate tokens viewable via Reddit’s official OpenSea collectibles page for at least 24 hours, according to two sources familiar with the matter.

META & NFT WORLD Open / Comment

2022-10-28 12:00:07 Twitter will let users display NFT marketplace listings from certain platforms, including a button to let them buy and sell collectibles.

Social media platform Twitter today announced that it will let users buy, sell, and display NFTs directly through tweets in partnership with four marketplaces.

The integration, called NFT Tweet Tiles, displays the artwork of an NFT in a dedicated panel within a tweet, and includes a button to let users click through to a marketplace listing.
The integration—which is still in testing—currently works with marketplaces from four specific partners: Solana-centric marketplace Magic Eden, multi-platform NFT marketplace protocol Rarible, Flow blockchain creator Dapper Labs, and sports-centric platform Jump.trade.

META & NFT WORLD Open / Comment

2022-10-26 12:51:39 IRS Makes Language Change that Includes NFTs
One of the challenges that come with novel assets like NFTs is how exactly taxes are to be paid on them. After all, most existing tax codes were created long before NFTs were even in existence. As such, the treatment of NFTs under tax codes is a question that lingers all over the industry.

Luckily, the U.S. Internal Revenue Service (IRS) has given more clarity to this with its updated tax codes.
The new draft that the IRS released offers some clarification for those who file with form 1040. More specifically, the terminology used for one of the asset classes has been changed from “virtual currency” to “digital assets.” Not only has this name been changed but the document explicitly mentions NFTs and notes that they are included.

META & NFT WORLD Open / Comment

2022-10-21 16:58:51 Cardano Records 280% Spike in NFT Volumes Within Week: Details

Cardano has seen a 280% increase in its NFT volume within seven days. Taken from Oct. 10, when ADA NFT volumes were barely 811,000, to Oct. 17, when ADA NFT volumes reached 3.0 million ADA, this represents a 280% increase. Cardano also entered the top three NFT chains, flipping Immutable X to the fourth spot.
Per OpenCNFT data, the number of NFT trades increased by 67% in the last seven days to 48,384, and the number of NFTs sold rose by 65.27% to 45,668. An all-time high volume of 3,089,313 was hit on Oct. 17. On Oct. 20, the 24-hour NFT volume in ADA, according to OpenCNFT data, was given as 1,232,142. Open / Comment

2022-10-19 12:00:06 Street Machine Pumped Tenfold in 11 Days. Here’s What We Know About the Latest NFT Phenomenon

Street Machine is a cyberpunk anime storytelling NFT project. The team claims NFT owners may see their characters appear in major roles in the collection’s upcoming graphic novel.

Street Machine saw its NFTs prices multiply by 10 since October 7, even though the collection’s items themselves have yet to be revealed.
The bear market isn’t keeping all NFT collections from generating hype.

Street Machine, an NFT collection that launched on October 7 on OpenSea, has seen the average price of its items (which have yet to be revealed) rise from a low of 0.04 ETH on its mint day to 0.41 ETH at the time of writing—an impressive 1,125% increase considering the adverse market conditions in which the collection debuted.

META & NFT WORLD Open / Comment

2022-10-17 13:00:10 Magic Eden Flip-Flops on Solana NFT Royalties, Making Them Optional

Magic Eden, the most popular marketplace for Solana NFTs, announced late Friday that it would no longer strictly honor creator-set royalties on NFTs sold through its platform, bowing to recent pressure as royalties-shunning rivals rapidly stole away its market share.

“After some difficult reflection and discussions with many creators, we’ve decided to move to optional royalties,” the platform tweeted. Magic Eden also said that it would waive its platform fees during a promotional period, in an apparent bid to win back traders.

Magic Eden had been the most dominant NFT marketplace on Solana over the past year, typically owning 90% or more of market share at any given time. The startup rode that momentum to a $1.6 billion valuation in June, just nine months after launching the platform, as it raised $130 million in Series B funding.

META & NFT WORLD Open / Comment

2022-10-14 12:00:11 Disney is getting into Web 3.0 and the Metaverse

Assume being at Disney World and being being able to interact with your favorite Walt Disney (NYSE: DIS) characters through augmented reality, purchasing limited non-fungible tokens (NFTs) from your favorite movies, or actually being in the movie and having a first-person experience. This is the way that Disney is going.

Disney has been known for a long time as one of best entertainment companies. It has built a business model around without only movies, but also amusement parks, resorts, and cruise lines. Now, the company is taking another step in its growth to keep millions of people entertained.

A latest job listing suggests that Disney is hoping that the metaverse, non-fungible tokens (NFTs), and blockchain technology will help the company develop. Web 3.0 is the name for all of these terms together.

META & NFT WORLD Open / Comment

2022-10-13 12:00:06 Natural Beverage Brand Neuro Buys Bored Ape for more than $1,000,000 USD

Neuro Brands, LLC, a leader in the healthier lifestyle beverage space, including the high growth categories of refreshing energy, relaxation, sleep, daily and digestive health, has just announced the purchase of Ape #8585 for 777.0 ETH. Bored Ape #8585 is a five-trait trippy fur ape with a King's crown and heart glasses. This purchase represents one of the largest in Ape history.

Sanela Diana Jenkins, one of the stars of Real Housewives of Beverly Hills is the Founder, Chair, and CEO of Neuro with the mission to provide healthy beverages that benefit both the body and the mind.

"I started Neuro in the great financial crisis of 2008/2009. The NFT market is scared, and fear affects the market in a negative way. I believe in the future of NFTs and Bored Apes and want to empower the NFT community. This Bored Ape is gorgeous and perfectly aligns with Neuro's beautiful, bold approach to life," said Jenkins. Open / Comment

2022-10-12 12:00:06 OpenSea has officially opened up support for the Avalanche blockchain, with the move providing broader access for the network’s native NFT projects and faster transactions for OpenSea users.

The Avalanche team noted in an Oct. 12 blog post that around 10 of the network’s native NFT projects have been initially listed on OpenSea, with more to come.

“On Avalanche, OpenSea users will benefit from the fastest time to finality for NFT trades — regularly settling transactions in under a second — and consistently low transaction fees as a result of Avalanche’s success in horizontally scaling with Subnets,” the post reads.
According to data from CryptoSlam, Avalanche is currently ranked as the ninth biggest blockchain in terms of 24 hour NFT sales volume at just $75,690, and seventh in terms of all- time sales at $404 million.

META & NFT WORLD Open / Comment

2022-10-11 12:00:16 NFTs transform how fans bet on upcoming sports stars

A fan-centric Web3 sports platform uses NFTs to bring a new level of connectivity and ownership to betting on the success of upcoming athletes.
Nonfungible tokens (NFTs) and the sports world are on a mutually beneficial trajectory into the next generation of connectivity.

The latter is a catalyst for more mainstream adoption, with average sports fans rushing to collect NFT memorabilia and Web3-backed event tickets. While NFTs give the industry never-before-experienced levels of democracy and the connectivity that fans crave.

The platform FANtium is using NFTs to take financing athletes to the next level. Fans can use digital assets like bets on the future success of their favorite up-and-coming sports stars.

META & NFT WORLD Open / Comment