NFT
Stacks price plunges hard after rallying 70% in a day — more STX losses ahead?
Stacks (STX) pared a considerable portion of the gains it made on March 10 as the euphoria surrounding its $165 million pledge to support Bitcoin (BTC) projects showed signs of fading. STX’s price dropped by over 30% to reach a level as low as $1.33 on Friday when measured from its week-to-date high of $1.94. The selloff, in part, appeared technical as the $1.94-top fell in the same range that served as solid support between October 2021 and January 2022, only to flip later to become a resistance area. STX/USD daily price chart. Source: TradingView It also appears that traders spotted selling opportunities due to STX’s long wick candlestick on March 10. Stacks rallied by as much as 73% into the day while forming a disproportionally long bullish wick on the daily chart that hint...
P2P file-sharing platform LimeWire stages a comeback as an NFT marketplace
The discontinued file sharing platform will launch as an NFT marketplace in May The NFT marketplace project is yet to conduct external funding but will soon launch a LimeWire token Defunct software peer-to-peer file sharing (P2P) client LimeWire has today announced that it’s coming back but not in the same way it used to be. LimeWire intends to relaunch as an NFT marketplace. At the height of its prominence, LimeWire was popular for its service that allowed users to share and download music at no cost. However, its run came to an end and had to shut down in 2010 after a federal court found that LimeWire had caused large-scale copyright infringement via the service it offered users. Here is what to expect Austrian brothers Julian and Paul Zehetmayr, who acquired LimeWire’s intel...
Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone
The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split between the player, the community manager, and the YGG DAO. YGG reported that in February, scholars farmed more than 26.4 million SLP, the native token for Axie Infinity. This figure represents a 57% increase from January’s farming figures. It added...
Adobe’s Behance announces support for Phantom Wallet
Today, Adobe’s Behance has announced support for Phantom Wallet to allow people to showcase Solana-based NFTs on their profile, in addition to NFTs minted on Ethereum. Starting today, Behance users can connect their Phantom wallet and showcase Solana-based NFTs on their Behance profiles. The move resonates perfectly with Behance’s mission to help creators to build their careers without being dictated by third parties. Behance is built for freelancers, full-time gig sellers, those looking for subscriptions, those who want to sell templates, and those who want to live stream as well as those who want to sell NFTs. Before today’s announcement, Behance users were only able to showcase NFTs minted on Ethereum. But there have been concerns about the amount of Energy used by Ethereum in add...
Weekly Report: BitDAO makes bold bet with $633 million allocation
Here are some of the interesting headlines you might have missed in the cryptocurrency sector this week: Rarify gets a $10 million boost in a funding round led by Pantera Capital Rarify, an infrastructure firm that provides businesses and institutions with a platform to natively incorporate non-fungible tokens (NFTs), has completed a $10 million funding round. The raise, which now puts the firm’s valuation at $100 million, was led by asset management company Pantera Capital, with the involvement of other investors including Slow Ventures, Greycroft, Protocol Labs, Hyper, and Eniac Ventures. By providing infrastructure to support enterprise-scale NFT integration, Rarify helps companies jump into the NFT scene with ease. According to the firm’s co-founder Revas Tsivtsivadz, the firm aims to ...
Cointelegraph partners with Nitro Network to bring digital mining and decentralized internet to the masses
Over the past few years, nonfungible tokens (NFTs) have become a multibillion-dollar industry and have solidified themselves among the most tech savvy. They have opened the portal to infinite possibilities and carved out a new direction for the future of the internet. Enter Nitro Network, which is set to revolutionize the NFT space and take it to new heights. With its groundbreaking Non-Fungible Miners (NFMs), Nitro Network will solidify the decentralized web, all while offering generous rewards to its users. That is why Cointelegraph has partnered up with Nitro Network, to pioneer the future of a decentralized internet through the Non-Fungible Miner. NFMs are a unique innovation — an NFT that provides all users the ability to digitally mine Nitro’s native token, NCash, from anywhere in th...
Tomorrowland to Host First Mainstage Performance By NFT Artist
If there was any doubt NFTs are shaping the future of music, look no further than Tomorrowland‘s 2022 festival lineup. Ape Rave Club isn’t an artist you’d normally see on any festival lineup, but this digital primate is debuting on one of the biggest stages in all of dance music: the Tomorrowland mainstage. As the first NFT artist to perform at the world renowned event, Ape Rave Club will capture the attention of the global dance music community with a set to be seen by over half a million fans. A product of the popular Bored Ape Yacht Club collection, Ape Rave Club is just one of a limited batch of 10,000 apes created last year. More recently, the collection has drawn strong celebrity interest with Shaquille O’Neal, Steve Aoki, and Paris Hilton...
Russian national will use sales of her burning passport NFT to support Ukraine
Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. Speaking to Cointelegraph on Friday, Allen described herself as “a child of new Russia” and said the country would always be a part of her identity, but she had chosen to cut ties with it based on its recent actions in the Ukraine. Standing in front of the Consulate General of the Russian Federation in New York City, Allen burned her Russian passport — which she said was the only copy she had — and planned to auction the video as a nonfungible token (NFT), with the proceeds going to humanitarian efforts in Ukraine. “I do not consider Putin’s Russia my home...
US SEC is probing possible violations in NFT offerings
The SEC is particularly interested in fractional NFTs The regulator has, over the last few months, reportedly demanded information on the matter from certain entities Enjoying a breakout onto the scene in 2021, the NFT sector grew to become a $40 billion market. However, the US Securities and Exchange Commission, SEC, has taken note of the digital collectables and is now exploring whether they have been used in ways that violate securities laws. According to a recently published report by Bloomberg, the Commission has initiated a probe into whether NFT offerings are securities in the last few months. The news outlet said that the SEC has been sending subpoenas to creators behind some NFTs and crypto exchanges to provide information on the said product offerings. Bloomberg, citing people fa...
Ledger CTO warns crypto users about the dangers of ‘blind signing’
With the recent attack on OpenSea highlighting blockchain vulnerabilities, Charles Guillemet, the CTO of Ledger warns users about “blind signing” which he defines as “consenting a transaction to be signed blindly, without understanding what it means.” In an interview with Cointelegraph, Guillemet broke down the problems and highlighted issues with blind signing. The Ledger CTO notes that consenting to transactions requires signing a message to be sent to the blockchain. A user is the only one capable of signing transactions with the private key, while others can verify if it’s correct. “The issue is that this message is not intelligible by default. It’s a digital payload,” says Guillemet. Guillemet also explained that when a coin transfer is signed, it’s normally su...
SA Fintech Group Goes on a $3-Million Buying Spree
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FC Barcelona is looking to develop a metaverse and an in-house crypto coin
The Spanish club’s president revealed this week plans to create a unique cryptocurrency Barca previously rejected sponsorship offers from several crypto brands, including Polkadot La Liga football giants FC Barcelona wants to develop its standalone crypto coin, according to recent remarks from its president Joan Laporta. Sports news outlet ESPN reported this week that the club aims to raise funds via the project so as to remain afloat. The Blaugrana has struggled financially over the past few years due to the mismanagement of funds by the previous hierarchy. “We want to create our own cryptocurrency and we have to do that ourselves. We are different because we survive financially from what we can generate through the industry of sport,” Laporta said during this year’s edi...
