According to the recent NFTInsider Poll results, 63% of 1,399 participants believe that the NFT market will bounce back strong, and 27% say it will continue to slide through 2022.
Although we see a decline in trade volume and market cap, we believe NFTs are more than just hype.
From Telegram CEO introducing new NFT features to AFL's NFT collection selling out in under 12 hours, NFT technology still has much more room to grow and impact different industries in different ways.
Although we see a decline in trade volume and market cap, we believe NFTs are more than just hype.
From Telegram CEO introducing new NFT features to AFL's NFT collection selling out in under 12 hours, NFT technology still has much more room to grow and impact different industries in different ways.
THORSwap Launches Ethereum DEX Aggregator
THORSwap, the THORChain-based multi-chain DEX aggregator, has officially begun cross-chain trading for the majority of Ethereum tokens. THORSwap announced on August 23 that it had integrated the Ethereum aggregator DEX into its platform. Trading thousands of ERC-20 tokens over eight Layer 1 blockchains has never been simpler. With the addition of support for these assets, as well as the complete liquidity of DEXes like Uniswap and SushiSwap.
THORSwap, the THORChain-based multi-chain DEX aggregator, has officially begun cross-chain trading for the majority of Ethereum tokens. THORSwap announced on August 23 that it had integrated the Ethereum aggregator DEX into its platform. Trading thousands of ERC-20 tokens over eight Layer 1 blockchains has never been simpler. With the addition of support for these assets, as well as the complete liquidity of DEXes like Uniswap and SushiSwap.
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M&M release BAYC-inspired chocolates.
M&M's chocolates, owned by Mars, is releasing a limited edition M&M candy with BAYC NFT's image printed on it.
The deal was announced by Mars, who signed a deal with the Universal Music Group (UMG) label 10:22PM to create the limited edition M&M's based on Kingship, a virtual band made up of BAYC and MAYC avatars.
To be clear, this M&M's deal isn't a partnership with Yuga Labs or the actual Bored Ape Yacht Club brand. Instead, Bored Ape NFT holders are able to use their owned images to create products and projects and can license that artwork to brands if they please.
M&M's chocolates, owned by Mars, is releasing a limited edition M&M candy with BAYC NFT's image printed on it.
The deal was announced by Mars, who signed a deal with the Universal Music Group (UMG) label 10:22PM to create the limited edition M&M's based on Kingship, a virtual band made up of BAYC and MAYC avatars.
To be clear, this M&M's deal isn't a partnership with Yuga Labs or the actual Bored Ape Yacht Club brand. Instead, Bored Ape NFT holders are able to use their owned images to create products and projects and can license that artwork to brands if they please.
Uniswap in Talks with NFT Lending Protocols for NFT Financialization
Decentralized crypto exchange Uniswap has been in the news a lot this month. Its Head of NFT Product, Scott Lewis, revealed that they are in talks with seven NFT lending protocols to build NFT financialization. Basically, someone with the underlying NFTs can not only profit from the increasing value of these NFTs, but they can also provide liquidity on a decentralized exchange like Uniswap. The next step will be to “financialize” NFT assets using the DeFi protocols mentioned by Lewis. Uniswap is working to tackle two major issues in the space: liquidity fragmentation and information asymmetry.
Decentralized crypto exchange Uniswap has been in the news a lot this month. Its Head of NFT Product, Scott Lewis, revealed that they are in talks with seven NFT lending protocols to build NFT financialization. Basically, someone with the underlying NFTs can not only profit from the increasing value of these NFTs, but they can also provide liquidity on a decentralized exchange like Uniswap. The next step will be to “financialize” NFT assets using the DeFi protocols mentioned by Lewis. Uniswap is working to tackle two major issues in the space: liquidity fragmentation and information asymmetry.
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Hip-hop legends Snoop Dogg and Eminem took NFT IP to new heights with the release of “From the D 2 the LBC” earlier this Summer. The video features two Bored ape yacht club NFTs owned by the iconic duo, and debuted prior to their performance at ApeFest earlier this year.
Now the two have plans to feature their Bored Ape NFTS more prominently than ever before, this time at their MTV Video Music Awards performance. Through a partnership with BAYC founders Yugalabs, the two are set to make their first VMA appearance in more than 15 years. In unprecedented fashion, Snoop and Eminem will reportedly perform from inside Yuga Labs’ Otherside Metaverse - their highly anticipated blockchain game.
Now the two have plans to feature their Bored Ape NFTS more prominently than ever before, this time at their MTV Video Music Awards performance. Through a partnership with BAYC founders Yugalabs, the two are set to make their first VMA appearance in more than 15 years. In unprecedented fashion, Snoop and Eminem will reportedly perform from inside Yuga Labs’ Otherside Metaverse - their highly anticipated blockchain game.
A key leader for Meta’s metaverse software is leaving the company
The vice president of Meta’s Horizon social media virtual reality software, Vivek Sharma, is leaving the company, a spokesperson said Friday. Sharma has been with Facebook parent Meta for the past six years, holding high-ranking positions in marketplace and gaming, and most recently its nascent metaverse-related business unit.
As VP of Horizon, Sharma, who is based in the Seattle area, oversaw various VR projects such as the Horizon Worlds social media service, which is akin to the online game Second Life that’s been retrofitted to virtual reality. Other Horizon products include the VR-based workplace collaboration app Horizon Workrooms, and the Horizon Venues app for live events, which was moved into the core Worlds app this summer. The spokesperson added that the Horizon team will now directly report to Vishal Shah, Meta’s VP of the Metaverse.
The vice president of Meta’s Horizon social media virtual reality software, Vivek Sharma, is leaving the company, a spokesperson said Friday. Sharma has been with Facebook parent Meta for the past six years, holding high-ranking positions in marketplace and gaming, and most recently its nascent metaverse-related business unit.
As VP of Horizon, Sharma, who is based in the Seattle area, oversaw various VR projects such as the Horizon Worlds social media service, which is akin to the online game Second Life that’s been retrofitted to virtual reality. Other Horizon products include the VR-based workplace collaboration app Horizon Workrooms, and the Horizon Venues app for live events, which was moved into the core Worlds app this summer. The spokesperson added that the Horizon team will now directly report to Vishal Shah, Meta’s VP of the Metaverse.
Shiba Inu DEX ShibaSwap Trading Volume Crashes 89% In Year
HLShiba Inu’s (CRYPTO: SHIB) decentralized exchange (DEX), ShibaSwap, has seen its trading volume decline by over $1.5 billion since it first launched last year. Data from Dune Analytics shows ShibaSwap’s monthly trading volume for July was 311 million, an 80% decline from the $1.85.billion it recorded in July 2021. Trading volume on the DEX reached a peak of $4.2 billion in October 2021 when SHIB’s price was trading at an all-time high of $0.00008616. The meme coin is currently trading at $0.00001317, down 84% over the last 10 months.
HLShiba Inu’s (CRYPTO: SHIB) decentralized exchange (DEX), ShibaSwap, has seen its trading volume decline by over $1.5 billion since it first launched last year. Data from Dune Analytics shows ShibaSwap’s monthly trading volume for July was 311 million, an 80% decline from the $1.85.billion it recorded in July 2021. Trading volume on the DEX reached a peak of $4.2 billion in October 2021 when SHIB’s price was trading at an all-time high of $0.00008616. The meme coin is currently trading at $0.00001317, down 84% over the last 10 months.
⚡️ CEX investment in the first half of 2022
▫️ Projects in which large centralized cryptocurrency exchanges Binance Labs, FTX Ventures and Coinbase Ventures invested.
▫️ For prospect seekers, this is a reason to add these projects to their watch list, subscribe to social networks, do your own analysis and try to become an early entrant or add coins from these projects to their portfolios.
▫️ Projects in which large centralized cryptocurrency exchanges Binance Labs, FTX Ventures and Coinbase Ventures invested.
▫️ For prospect seekers, this is a reason to add these projects to their watch list, subscribe to social networks, do your own analysis and try to become an early entrant or add coins from these projects to their portfolios.
1inch plugs into KuCoin Wallet to improve token swaps
Cryptocurrency exchange KuCoin will introduce native token swap functionality to its in-house wallet after integrating decentralized finance (DeFi) market maker 1inch’s application programming interface. 1inch’s Pathfinder algorithm will increase the functionality of KuCoin Wallet, the exchange’s recently launched decentralized wallet platform, which features cross-chain trading, and DeFi and nonfungible token (NFT) support.
Cryptocurrency exchange KuCoin will introduce native token swap functionality to its in-house wallet after integrating decentralized finance (DeFi) market maker 1inch’s application programming interface. 1inch’s Pathfinder algorithm will increase the functionality of KuCoin Wallet, the exchange’s recently launched decentralized wallet platform, which features cross-chain trading, and DeFi and nonfungible token (NFT) support.
DEX accidentally hits kill switch on mainnet, locking 660,000 USDC inside
A decentralized cryptocurrency (D options exchange cut its own life short after unwittingly executing a command that closed its mainnet program and made it irrecoverable. OptiFi informed users that its platform had come to an unceremonious end after its development team tried to update its code on Monday. According to the decentralized exchange, the program incident also locked up some 660,000 USD Coin (USDC) on-chain.
A decentralized cryptocurrency (D options exchange cut its own life short after unwittingly executing a command that closed its mainnet program and made it irrecoverable. OptiFi informed users that its platform had come to an unceremonious end after its development team tried to update its code on Monday. According to the decentralized exchange, the program incident also locked up some 660,000 USD Coin (USDC) on-chain.
Decentralized Exchange Hashflow Onboards Global Market Maker Wintermute
DeFi trading platform Hashflow has announced the addition of Wintermute, a leading global algorithmic market maker, to the Hashflow ecosystem. With cumulative trading volumes of more than $1.9 trillion to its name, Wintermute adds significant liquidity and market efficiency to Hashflow. Coming on the heels of a $25 million funding round bringing the company’s valuation to $400 million, the addition of Wintermute builds on Hashflow’s ever-growing market maker ecosystem expansion.
DeFi trading platform Hashflow has announced the addition of Wintermute, a leading global algorithmic market maker, to the Hashflow ecosystem. With cumulative trading volumes of more than $1.9 trillion to its name, Wintermute adds significant liquidity and market efficiency to Hashflow. Coming on the heels of a $25 million funding round bringing the company’s valuation to $400 million, the addition of Wintermute builds on Hashflow’s ever-growing market maker ecosystem expansion.
OpenSea Trading Volume Down 99% From All-Time High
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs. Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected.
According to DappRadar’s statistics page, the daily trading volume of ETH at OpenSea peaked above $400 million on May 1st. By comparison, the platform only generated $5 million in ETH volume on August 28th. In an email to Fortune, OpenSea noted that the figure is a bit exaggerated, as it compares a day of unusually high volume to a day of some of the platform’s lowest volume. It also said that measuring volume in ETH, rather than dollars, was preferable to eliminate ETH’s price volatility from the equation.
Think the cryptocurrency market has it rough? Take a look at what happened to non-fungible tokens – aka NFTs. Data from DappRadar shows that trading volume at OpenSea – the world’s largest NFT marketplace – has fallen by 99% in less than four months. While the company contested the figure to some degree, it admitted that the substantial slowdown in activity is both real and expected.
According to DappRadar’s statistics page, the daily trading volume of ETH at OpenSea peaked above $400 million on May 1st. By comparison, the platform only generated $5 million in ETH volume on August 28th. In an email to Fortune, OpenSea noted that the figure is a bit exaggerated, as it compares a day of unusually high volume to a day of some of the platform’s lowest volume. It also said that measuring volume in ETH, rather than dollars, was preferable to eliminate ETH’s price volatility from the equation.
South Korean telecoms giant LGU+ expands further into NFT Space
According to Money Today and Chosun Ilbo, the firm, which is a unit of the LG conglomerate, will issue a new collection featuring its Moono octopus-like animated character. The collection is inspired by the success of the firm’s debut collection, which sold out in just 2 seconds after it was released on OpenSea, via the Kakao-founded Klaytn blockchain in May.
LGU+ stated that the upcoming collection would be much larger than the first. 1,000 NFTs will be issued. The collection will feature Moono office workers and their “changing emotions” over the course of the working week. The firm also revealed that all the KLAY tokens it receives from the sale would be donated to charity. It intends to withhold 100 of the new NFTs for “marketing purposes,” while the remaining 900 collectibles will be up for public acquisition during two sales to be held on September 5.
According to Money Today and Chosun Ilbo, the firm, which is a unit of the LG conglomerate, will issue a new collection featuring its Moono octopus-like animated character. The collection is inspired by the success of the firm’s debut collection, which sold out in just 2 seconds after it was released on OpenSea, via the Kakao-founded Klaytn blockchain in May.
LGU+ stated that the upcoming collection would be much larger than the first. 1,000 NFTs will be issued. The collection will feature Moono office workers and their “changing emotions” over the course of the working week. The firm also revealed that all the KLAY tokens it receives from the sale would be donated to charity. It intends to withhold 100 of the new NFTs for “marketing purposes,” while the remaining 900 collectibles will be up for public acquisition during two sales to be held on September 5.
Decentralized Exchange THORSwap to Support Cross-Chain Swaps for Over 4,300 Ethereum-Based Tokens
The developers behind THORChain-based decentralized exchange (DEX) THORSwap this week said the protocol had added more than 4,300 Ethereum-based tokens to its cross-chain liquidity aggregator – a move that allows users to swap them into other supported blockchains, such as Bitcoin, Cosmos, Dogecoin and THORChain. Liquidity aggregators rely on smart contracts to gather token prices across a number of decentralized exchanges (DEX) on other blockchain networks. This allows users to get better tokens prices on their trades with low slippage. Slippage is the difference between the expected price of a trade and the price that's actually achieved, while gas is the blockchain transaction fee.
The developers behind THORChain-based decentralized exchange (DEX) THORSwap this week said the protocol had added more than 4,300 Ethereum-based tokens to its cross-chain liquidity aggregator – a move that allows users to swap them into other supported blockchains, such as Bitcoin, Cosmos, Dogecoin and THORChain. Liquidity aggregators rely on smart contracts to gather token prices across a number of decentralized exchanges (DEX) on other blockchain networks. This allows users to get better tokens prices on their trades with low slippage. Slippage is the difference between the expected price of a trade and the price that's actually achieved, while gas is the blockchain transaction fee.
dYdX ends contentious promo claiming ‘overwhelming demand’
Decentralized crypto derivatives exchange dYdX says it has ended its short-lived and contentious $25 first deposit bonus promo amid a wave of backlash over its facial recognition requirements for new users. The exchange, however, simply cited “overwhelming demand” as the reason for its short-lived promotional campaign, which ended on Thursday “effective immediately.”
Decentralized crypto derivatives exchange dYdX says it has ended its short-lived and contentious $25 first deposit bonus promo amid a wave of backlash over its facial recognition requirements for new users. The exchange, however, simply cited “overwhelming demand” as the reason for its short-lived promotional campaign, which ended on Thursday “effective immediately.”
LC Waikiki opens its first store in the metaverse
LC Waikiki Chief Digital Officer Şerafettin Özer explained that they continue their work with the belief that the concept of metaverse will become a part of our daily lives, and stated that they continue to manage and develop their metaverse work entirely under the leadership of the meta teams inside. Özer said: “We focused on providing an enjoyable shopping experience by creating a pleasant world for our customers at LC Waikiki Meta Store.
Stating that it is possible to fully experience the visual and auditory effects on gaming computers or computers with the necessary hardware features, Özer said that for this reason, they have opened their stores to a very limited audience for now and will continue to develop them with the feedback they will receive from users. Özer added that they are excited to open Meta Store to wider audiences by completing the development of the Beta version in the coming period.
LC Waikiki Chief Digital Officer Şerafettin Özer explained that they continue their work with the belief that the concept of metaverse will become a part of our daily lives, and stated that they continue to manage and develop their metaverse work entirely under the leadership of the meta teams inside. Özer said: “We focused on providing an enjoyable shopping experience by creating a pleasant world for our customers at LC Waikiki Meta Store.
Stating that it is possible to fully experience the visual and auditory effects on gaming computers or computers with the necessary hardware features, Özer said that for this reason, they have opened their stores to a very limited audience for now and will continue to develop them with the feedback they will receive from users. Özer added that they are excited to open Meta Store to wider audiences by completing the development of the Beta version in the coming period.
It’s becoming increasingly common to use NFTs for good, as cryptocurrency and the blockchain have the ability to penetrate far beyond the limits of what would be possible using traditional financial tools. In an effort to raise charity for the nonprofit Heath Ledger Foundation, photographer Wattsupphoto will be releasing rarely-seen photos of the late actor.
The NFTs being released are comprised of intimate, never-before-shared photos of Heath Ledger between 2002 and 2004. One image titled “NO PERMIT” tells a story of Heath and the photographer wandering into the LA river without permission, and displays Ledger performing a handstand while looking into the camera. Another titled “NED & BOB” shows the beloved actor hugging two puppies he adopted that day.
Launch is set for September 14th, with proceeds being donated to the Heath Ledger Foundation, aimed at assisting Australian actors abroad.
The NFTs being released are comprised of intimate, never-before-shared photos of Heath Ledger between 2002 and 2004. One image titled “NO PERMIT” tells a story of Heath and the photographer wandering into the LA river without permission, and displays Ledger performing a handstand while looking into the camera. Another titled “NED & BOB” shows the beloved actor hugging two puppies he adopted that day.
Launch is set for September 14th, with proceeds being donated to the Heath Ledger Foundation, aimed at assisting Australian actors abroad.
Kyber Network offers bounty following $265K hack of decentralized exchange
KyberSwap, the decentralized exchange built on liquidity protocol Kyber Network, has offered a hacker 15% of the funds from a $265,000 exploit as a bug bounty. In a Thursday blog post, Kyber Network said a hacker had used a frontend exploit to pilfer roughly $265,000 worth of user funds from KyberSwap. The protocol said it will compensate all users for any missing funds related to the exploit, and directly addressed the hacker to give them an opportunity to return the funds in exchange for “a conversation with our team” and 15% of what was taken — roughly $40,000.
KyberSwap, the decentralized exchange built on liquidity protocol Kyber Network, has offered a hacker 15% of the funds from a $265,000 exploit as a bug bounty. In a Thursday blog post, Kyber Network said a hacker had used a frontend exploit to pilfer roughly $265,000 worth of user funds from KyberSwap. The protocol said it will compensate all users for any missing funds related to the exploit, and directly addressed the hacker to give them an opportunity to return the funds in exchange for “a conversation with our team” and 15% of what was taken — roughly $40,000.