Nonfungible token (NFT) trading volume has surged over the past 24 hours as crypto markets tank taking floor prices of many top NFT collections along with it. A long list of top NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks and Sorare have all seen more than 100% increases in 24-hour trading volumes as investors look to snap up cheaper NFTs as floor prices tumble. According to data from CryptoSlam, eight of the top 10 NFT projects in terms of 24-hour sales volume have posted at least a 115% increase in trading …

American food manufacturing and processing giant Kraft Foods Group has filed nonfungible token (NFT) and metaverse patents for several of its popular brands. The firm joins a host of mainstream companies such as Gatorade, Nike, Adidas and Coca-Cola that have moved to secure their products and branding in the crypto/virtual sphere. According to a Monday Tweet from the United States Patent and Trademark Office (USPTO) licensed trademark attorney Mike Kondoudis, Kraft Foods has locked in trademarks for Jell-O, Kool-Aid, Velveeta, Lunchables, Oscar Mayer, Philadelphia and, of course, the Kraft brand. The firm’s NFT and metaverse trademarks cover a long range …

International payment processing giant Mastercard is expanding its payment network for nonfungible token (NFT) markets and Web3. The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. The firm has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first. Currently, users need to buy crypto to bid on and buy NFTs. However, with the latest Mastercard partnership, billions of cardholders can now bypass the process of buying a transferring crypto to NFT marketplaces. The firm said: …

Major toy brand Mattel has signed a multi-year partnership with forthcoming toy-focused nonfungible token (NFT) marketplace Cryptoys to exclusively feature its brands on the platform. Cryptoys is expected to launch in late summer 2022 on the Flow blockchain and is the flagship product of OnChain Studios, which has received funding from crypto-interested venture capital firms such as Andreessen Horowitz (a16z) and Dapper Labs. OnChain Studios also plans to make a Cryptoys metaverse and other play-to-earn games where Mattel’s intellectual property — including Barbie, Hot Wheels and Masters of the Universe, among many others — will be made into playable avatars. …

The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new nonfungible token (NFT) solution and then promptly deleted all mention of it online. According to a now-deleted Twitter post announcing the launch on Wednesday, the firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure but is no longer listed on its website. There are also no press releases or announcements related to the NFT solution on Alibaba’s website anymore. Meanwhile, the solution’s webpage link still shows up in Google search results and now redirects to Alibaba Cloud’s solution index page. The reason …

Economies are shifting rapidly. From a global pandemic, to worldwide unrest, to evolving definitions of money and value, people are reimagining what matters in their daily lives. New societies are forming based on trustless protocols, and those online are seeking to acquire empowerment and make their voice heard. At present, the world holds items of worth in both the physical and digital worlds, leading many to a place where they must straddle the two. As the gap continues to close, it will only be a matter of time before a new standard is set for what the world deems truly …

It seems like the whole world is creating NFTs. However, for every successful launch, there is a project suffering from technical difficulties, website crashes and an imminent flop. For creators, this warning illustrates how crucial it is to carefully consider each of the steps in the NFT lifecycle before launching a new project. Perhaps, the most crucial is the decision of which marketplace to use and the contents of the smart contract itself. Consider that at the time of minting, creators must think about the maximum mint amount, royalties, the location your NFTs will live on (on- or off-chain), the …

On Wednesday, United States prosecutors in Manhattan charged Nathaniel Chastain, 31, with insider trading. Chastain is a former product manager at OpenSea, the largest nonfungible token (NFT) marketplace. This will be the first case of its kind regarding digital assets and traditional criminal investigations. Former employee of NFT marketplace charged in first ever digital asset insider trading schemehttps://t.co/Q8C8btS743 — US Attorney SDNY (@SDNYnews) June 1, 2022 Prosecutors claim that Chastain bought 45 NFTs through anonymous hot wallets and anonymous accounts on OpenSea and then sold them for a profit shortly after. He allegedly bought them shortly before they were featured …

Nonfungible token (NFT) marketplace OpenSea has announced the launch of a Web3 marketplace protocol for “safely and efficiently buying and selling NFTs.” In a Friday blog post, OpenSea said the marketplace protocol, dubbed Seaport, will give users the option to obtain NFTs by offering assets other than just payment tokens like Ether (ETH). According to the platform, a user “can agree to supply a number of ETH / ERC20 / ERC721 / ERC1155 items” in exchange for an NFT, implying bartering a combination of tokens as a method of payment. In addition, Seaport users can specify which criteria such as …

Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. Nonfungible token (NFT) investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s LUNA and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market. Things aren’t as bad as they were in 2018, but the NFT market isn’t as seasoned. …

The queen of pop has collaborated with record-setting artist Beeple to create a series called Mother of Creation, which includes three nonfungible tokens (NFTs) titled Mother of Technology, Mother of Nature and Mother of Evolution. The NFTs show a 3D likeness of Madonna giving birth to robot centipedes, butterflies and trees. As the markets went crazy over stablecoins showing instability, Madonna and Beeple decided that it was the right time to show the community something even crazier — NFTs showing a 3D model of the 63-year-old singer-songwriter’s vagina. Following the drop, the community reacted with various perspectives, with some being …

Coinbase, one of the largest crypto exchanges by volume, opened its beta nonfungible token (NFT) marketplace to the public on Wednesday, with on-chain data showing a maximum of 150 total transactions on the day and a $75,000 volume. The transactions captured by Dune Analytics show the total amount which took place through the 0x Protocol, the infrastructure behind Coinbase’s marketplace. While not all transactions are guaranteed to be from Coinbase since 0x announced its support for NFTs in January, it has yet to announce any other partners apart from Coinbase. The number pales into insignificance compared to expectations arising from …