Crypto for Dummies

2023-03-24 21:00:40 ​ NFT wash trading increases by 126% in February: Data

The top six nonfungible token (NFT) marketplaces saw a rise in wash trading for the fourth straight month, with a total volume of $580 million. According to a new report from CoinGecko, February 2023 witnessed a 126% increase from the previous month’s volume of $250 million. As for the reason for the jump, the report points to a correlation with the overall recovery of NFT marketplace. Wash trading refers to the manipulation of trading volume or price through repeated transactions. The six marketplaces included in the report are Magic Eden, OpenSea, Blur, X2Y2, CryptoPunks and LooksRare. X2Y2, Blur and LooksRare played the largest roles in February’s wash trading volume, with $280 million (49.7%), $150 million (27.7%) and $80 million (15.1%), respectively. The other two marketplaces, Magic Eden and OpenSea, reported $590,000 and $42.57 million in wash trading, respectively. CryptoPunks, on the other hand, didn’t see any NFT wash trading, according to the report. The marketplaces have previously incentivized users to increase trading volume. Открыть/Комментировать

2023-03-24 14:00:51 SVB's collapse on the NFT market

Reports suggest that SVB's collapse has shattered NFT trading volumes as traders are holding on to their assets amid the ongoing banking crisis in the US.

Data revealed NFT trading volumes were near $74 million, whereas after SVB's collapse, it declined to around $36 million, dropping daily NFT sales count by 27.9%. Открыть/Комментировать

2023-03-23 21:00:41 Binance NFT is extending its zero-fee trading policy for collections on Ethereum and Polygon. Открыть/Комментировать

2023-03-23 14:00:53 Sony has filed a patent for NFT use, transfer, and sales.

The newly published patent is called:

‘NFT Framework For Transferring And Using Digital Assets Between Game Platforms’. Открыть/Комментировать

2023-03-22 21:00:42 Balaji Srinivasan, a brilliant entrepreneur and investor, has set crypto twitter on fire by predicting that Bitcoin will hit $1M within 90 days.

He believes most banks in the US are insolvent, hyperinflation is imminent, and a US civil war will happen. Открыть/Комментировать

2023-03-22 14:00:50 Japanese AI-generated film Geometry Ogilvy launches web3 and metaverse platform. Открыть/Комментировать

2023-03-21 21:00:34 Cardano releases an update to ensure network uptime and stability and improve overall resilience. Открыть/Комментировать

2023-03-21 14:00:46 Instagram NFT initiative's swift death mints mourners, mehs

Meta’s decision to test an initiative that allowed artists to sell NFTs on Instagram was widely considered a positive development for the struggling industry. Now that the tech giant has pulled the plug on the project, web3 enthusiasts’ reaction to the sudden move is all over the place. Krugman’s frustration may resonate with many independent artists.

Meta’s new NFT feature allowed him to interact directly with his audience and he could seamlessly sell NFTs on the platform rather than having to redirect potential buyers to third-party marketplaces like OpenSea. Krugman did only one drop on Instagram of 100 NFTs at $50 a piece, which he said sold in under a minute. Meta is moving off of NFTs a little less than five months after launching the initiative that allowed a select few “creators” to showcase and sell “digital collectibles” — NFTs — using Instagram. Открыть/Комментировать

2023-03-20 21:00:42 Hello Pets Now Acquires 10 BAYC In $6M NFT Expansion, Sets Sights On Metaverse

Hello Pets, a blockchain-based entertainment company, has recently made a significant investment in the NFT space. The firm announced that it had acquired 10 Bored Ape Yacht Club (BAYC) NFTs as the first step of its newly established $6M funds to develop and strengthen its Metaverse ecosystem. The purchased NFTs will be incorporated into Hello Pets’ various products, including movies, metaverse, games, AR/VR applications, Lego-like toys, fashion, and many more. Hello Pets believes that this approach will result in richer and more captivating content in its products, appealing to a broader audience. The company plans to keep buying more Blue Chip NFTs, as well as excellent content creating teams, to strengthen its ecosystem further. As part of the $6M fund, Hello Pets also plans to invest in and acquire high-quality Metaverse and game teams to build the ecosystem together and synergize with all its products. Открыть/Комментировать

2023-03-20 14:00:49 Doodles co-founder Jordan Castro says they are moving away from being just an NFT project to a leading media franchise using NFT tech. Открыть/Комментировать