Ethereum News Daily TheBitTimes.com

Metagood CEO Danny Yang attributed the move to the Bitcoin network being seen as a more secure platform for its users, among other reasons. The team behind nonfungible token collection OnChainMonkey is shifting its entire collection of 10,000 NFTs from Ethereum to Bitcoin, in a massive undertaking expected to take several months. "A historical transition is on the horizon as we prepare to migrate our flagship collection , OCM Genesis, from Ethereum to Bitcoin,” Metagood co-founder and CEO Danny Yang said in a statement on Sept. 7. The OnChainMonkeys were first launched in September 2021 on Ethereum, but Yang said the migration to Bitcoin Ordinals was due to its community seeing Bitcoin as offering a more secure platform for its users. “The Bitcoin Ordinal protocol is better designed for decentralization and security than the Ethereum NFT protocol. High-value NFTs will win on Bitcoin.” The proposal to migrate to Bitcoin was passed by 99% of OnChainMonkey tokenholders. Yang said ...

Art broker Sotheby's has been named in the Bored Ape investors case against NFT company Yuga Labs, which said that the new allegations are without merit and described the complaint as "opportunistic." Fine arts auction firm Sotheby’s has recently been named in the class-action lawsuit filed by Bored Ape Yacht Club (BAYC) investors against BAYC creators Yuga Labs. The investors allege that the auction house helped Yuga Labs “deceptively promote” the nonfungible token (NFT) collection.  On Dec. 10, BAYC investors filed a class-action lawsuit against over 40 defendants including Yuga Labs and celebrities like Post Malone, Justin Beiber and Paris Hilton. The lawsuit alleged that Yuga Labs and the celebrities were able to “artificially increase” the prices of the NFTs through celebrity promotions. In a new development, Sotheby’s has been named in an amendment to the lawsuit . On Sept. 10, 2021, Sotheby's auctioned 101 BAYC NFTs which generated over $24 million in sal...

Coinbase’s Base network began onboarding end users through a bridge UI, and the team announced Aug. 9 as the platform's official launch date. Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. The team will award over 100 Ether (ETH), worth approximately $184,000, in grants to developers and content creators as part of a month-long launch event called the “Onchain Summer.” Base is now open for bridging Base opens for everything on August 9 We’re helping throw an onchain festival to celebrate ɪᴛ'ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ https://t.co/p8KTcnkbbx — Base ️ (@BuildOnBase) August 3, 2023 The Base mainnet launch ed for builders on July 13, but it lacked a functioning UI for its bridge from Ethereum. At the time, the only way to use the network was to employ command-line develop...

Sky Mavis executive Kathleen Osgood said that the catalyst for the revival of blockchain gaming would be an experience that understands the motivations driving users into Web3. Sky Mavis, the company behind the popular play-to-earn (P2E) blockchain game Axie Infinity, has announced a partnership with the Ethereum-based nonfungible token (NFT) collection CyberKongz to create a more comprehensive gaming ecosystem for the Ronin blockchain. In the announcement, the company also teased the creation of a new game, though it only provided scant details about the upcoming game development. However, Kathleen Osgood, the head of business development at Sky Mavis, told Cointelegraph in a statement that the new game will be interoperable by integrating with existing Axie Infinity experiences. Apart from a new game, the announcement also highlighted that CyberKongz’s Play & Kollect game — a Polygon-based blockchain game that integrates soulbound tokens and allows players to collect NFTs from ...

The widespread adoption of NFTs could be on the horizon, but we need simple solutions for users, Gorilla Funds’ Jakob Sievers tells crypto.news at NFT Show Europe. Web3 is already poised to fundamentally transform the way we operate, according to Jakob Sievers, CEO of Gorilla Funds, a German-based web3 company, during his recent talk at NFT Show Europe in Valencia, Spain. Sievers gave real-world examples of potential NFT adopters, such as artists, event organizers, and fitness companies. He emphasized, however, that the absence of necessary tools hinders the journey to mass adoption, the complexity of NFT technology, high-cost barriers, and the reliance on people owning crypto wallets, a condition not yet met by many prospective users. You might also like: Crypto Twitter thrilled about Google Play adding NFT support For example, the possible strategies to overcome it for a fitness company could include offering an accessible solution to mint NFT smart contracts and co...

Epic Games is steaming ahead with plans to list NFT games on its store, while the second 3AC NFT auction on Sothesby's is slated to take place this month. The Pixel Penguin alleged ‘charity project rug’ Nonfungible-token (NFT) project Pixel Penguin has caused a stir this week in what a blockchain investigator ZachXBT has alleged is a “charity project rug.” The project quietly launched in February, but drew a lot of attention on May 31 following a Twitter thread from Web3 influencer Andrew Wang. I woke up today to see one of my friends trending on twitter, @Hopeexist1. she made a collection to help herself battle cancer and some awesome web3 people spotlighted her today, so i'd like to add to it pic.twitter.com/Fr5Mcu26eR — andrew wang (@andr3w) May 30, 2023 Wang claimed his friend Sarah, known as Hopeexist1 online, was the creator of Pixel Penguins, and noted that she had “made a collection to help herself battle cancer.” At a $13 mint price, Wang claimed that 20% of the p...

He may well be one of the most divisive figures in American history and nearly gravitational in societal discourse. Moreover, it was that status that made the arrival of President Donald Trump ’s collection of non-fungible tokens so interesting. So, following their arrival and subsequent sell-out, we tell you how to buy a Donald Trump NFT.  The digital cards that feature various interpretations of the former US president were quite interesting. Moreover,  the series of Trump digital trading cards presented a must-have for some digital assets and NFT collectors.  The Donald Trump Collection Source: MarketWatch Firstly, let’s uncover just what the Donald Trump NFTs are before we observe how to acquire them. Trump announced these NFT trading cards in December 2022, to a rather rambunctious reception. Subsequently, the assets saw great success in their initial sale.  Following the original announcement, the Trump NFT trading cards had actually sold out in the first 24 hou...

The minimum purchase amount for the hotel's tokenized ownership is $1,000. On Apr. 11, token ization infrastructure provider Tokeny announced a new partnership with Ethereum real-estate token ization marketplace CoFund. The deal would enable CoFund to issue regulatory-compliant ERC-3643 security token s on the Polygon (MATIC) network to token ize a $10 million hotel in the Indonesian island resort of Bali.  According to Tokeny, investors can own a piece of the hotel starting with a minimum investment of $1,000. Luc Falempin, CEO of Tokeny, commented: "Simple ERC20 tokens and NFTs don't meet compliance needs. Our technology platform leverages the ERC-3643 token standard to ensure our partners can enforce compliance, even on a permissionless blockchain." Meanwhile, Giri Kayogiswara, CEO of CoFund, added: "With Tokeny's proven platform, we can create a secure and accessible real estate investment market that meets the needs of all types of investors while en...

Cointelegraph explored the United Arab Emirates to see how NFTs are used in the region. SVB collapse chilled NFT trading volumes: DappRadar The recent collapse of the Silicon Valley Bank (SVB) resulted in dwindling numbers for NFT trading volume s, with traders holding on to their assets amid the banking crisis in the United States. Before the crisis, NFT trading volumes were around $68 million to $74 million. After SVB collapsed on March 10, the trading volume declined, falling to $36 million on March 12. In addition, the daily NFT sales count also dropped by 27.9% between March 9 and 11. Continue reading… Dubai to Abu Dhabi: How NFTs are used in the UAE As the UAE welcomes developments within the blockchain space, NFTs continue to thrive in the region. Cointelegraph explored various places to find out how NFTs are being used in the UAE. At the Ultra Abu Dhabi event on March 5, organizers used NFT tickets. The tickets were similar to regular tickets but had the benefit of being rec...

The platform didn’t disclose the reason for its closure, but Solana NFTs haven’t been having the best run lately. Formfunction, a Solana (SOL)-based nonfungible token (NFT) marketplace, has announced its closing up shop after only 13 months of operation amid a slump in Solana NFT prices and trading volumes. On March 15, Formfunction announced it is "shutting down" on March 29 saying it “cannot continue to operate” after “much discussion and careful consideration.” We have some sad news to share today—Formfunction is shutting down on Wednesday, March 29th. This was an extremely difficult decision; however, after much discussion and careful consideration, we’ve come to the conclusion that we cannot continue to operate Formfunction. — Formfunction (@formfunction) March 15, 2023 The exact reason for closing the platform was not disclosed in the announcement. Formfunction’s head of community and marketing, known by their pseudonym “Magellan,” tweeted on March 15 that the cofoun...

The Busan Digital Asset Exchange Establishment Promotion Committee said it plans to create a functional exchange by the end of the year. According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets. “Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.” As told by the Busan Digital Asset Exchange Establishment Promotion Committee, the plan involves coordinating domestic financial companies and digital asset exchange s and building a transaction support system serving as the basis for the exchange . “The Busan Digital Asset Exchange has a decentralized fair exc...