In May 2021, OpenSea closed out nearly $140 million in total volume. Fast forward a year and the most dominant nonfungible token (NFT) marketplace closed over $880 million in less than a week partially because of the Yuga Labs’ The Otherside mint. As a result of this mint, a fresh surge of liquidity was injected into the NFT ecosystem and as it stands the current NFT total market capitalization is over $19.4 billion. For the past two weeks, most of the market had seen little action, but this changed after the Otherside mint closed over $317 million in just three …

Crypto exchange Kraken has opened a waitlist for its nonfungible token, or NFT, marketplace in beta more than four months after CEO Jesse Powell announced the initiative. In a Tuesday blog post, Kraken said it had opened the waitlist for its marketplace, which will allow users to buy and sell NFTs and reportedly, use tokens as collateral for loans. According to the exchange, users will not incur any gas fees for trading NFTs that are custodied with Kraken — gas fees are only incurred for transferring tokens and NFTs off the platform. In addition, Kraken’s marketplace will feature a “rarity …

This week, the crypto community headed to Nassau in the Bahamas for the inaugural Crypto Bahamas conference. Like most conferences, panels fill up the agenda and on Wednesday the topics at Crypto Bahamas ranged from nonfungible tokens (NFTs) to crypto in sports and to asset allocation in Web3. During one particular conversation, titled “Evolution of NFTs: Culture, Utility and Regulation,” panelists had some insightful musings on the NFT market. To put the Crypto Bahamas conference into context, Sam Bankman-Fried’s cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas in September 2021. It recently inked a multi-year partnership …

OpenSea buys NFT market aggregator Gem In a Monday Twitter post, OpenSea announced it had acquired nonfungible token (NFT) marketplace aggregator Gem for an undisclosed price. A blog post by OpenSea chief executive officer Devin Finzer stated that the company made this move to improve the experience of its more seasoned “pro” users. Gem lets traders buy NFTs across various collections and multiple marketplaces in a single transaction that saves on gas fees. For now, OpenSea is adding popular Gem features such as its collection floor price sweeping tool and rarity-based rankings to its platform. Gem will continue operating independently …

Spring is here and with it came a newfound awakening for nonfungible tokens (NFTs). In the last week of March, total sales volume rallied to $20 billion, but this metric took a dive from mid April to $17.6 billion. However, on April 16, the newly landed Moonbirds NFT, pumped over $280 million worth of liquidity into the market and this, compounded with rumors of Yuga Labs’ Otherside land drop, sent the total volume sales for NFTs into a steady upward trend. In the last seven days, the sector’s total market capitalization increased over 3% to approximately $18.6 billion and the …

Sentiment in the cryptocurrency market is on the upswing after small gains from Bitcoin (BTC) and altcoins hint that the market could be in the process of a bullish breakout. A handful of altcoins are also finding momentum and a round of fresh partnership announcements appear to back the 40% gains seen in select assets on April 21. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Steem (STEEM), TrustSwap (SWAP) and 0x (ZRX). Binance lists STEEM The community-focused blockchain network Steem is the underlying chain for the social media platform Steemit, …

Crypto exchange Coinbase’s nonfungible token (NFT) marketplace has moved into beta more than six months after the company announced it planned to open a waitlist for the site. According to a Wednesday blog post, the crypto exchange said beta testers for Coinbase NFT would be able to create online profiles as well as buy and sell NFTs. In a Tuesday press briefing, Coinbase vice president of product and ecosystem Sanchan Saxena hinted the design of the marketplace would be a cross between a social media platform and other NFT marketplaces like OpeaSea. “While it is true that buying and selling …

The freshly launched Ethereum-based “Moonbirds” nonfungible token (NFT) project is soaring to the top of the trade volume charts after generating $290 million worth of sales in just four days. There are 10,000 computer-generated pixel owl avatar NFTs in total, which were promptly sold out on Saturday for a mint price of 2.5 Ether (ETH) per NFT, or $7,700 at the time of writing. The floor price, or minimum average sale, has since exploded on secondary markets, with OpenSea currently showing a hefty sum of 18.45 ETH, or $56,800 at the time of writing. BLOOD MOON RISING #moonbirds pic.twitter.com/Jm6bqBVuVF — …

The research arm of cyber security software firm Check Point said it identified a vulnerability in the Rarible NFT marketplace that could have seen many of its roughly two million active monthly users lose their NFTs in a single transaction. Check Point is a multinational IT security firm that was founded in Ramat Gan, Israel in 1993 and also claimed to have spotted issues relating to malicious airdrops on OpenSea back in October 2021. According to documents shared with Cointelegraph, Check Point Research (CPR) recently discovered that malicious actors could send users a dubious link to an NFT that executes …

Japan’s largest social media app, Line has officially launched its own non-fungible token (NFT) marketplace called LINE NFT. Partnering with Yoshimoto Kogyo, a major Japanese entertainment conglomerate — the LVC Corporation, Line’s crypto and blockchain manager — will offer approximately 40,000 different NFTs to its 90 million users. The first wave of soon-to-be-released NFTs will include videos from the company’s in-house, Yoshimoto NFT Theatre, as well depictions of characters from well-known anime series, Patlabor the Mobile Police, with more to come on offer in the coming months. Also NFTs from the iconic anime series Patlabor the Mobile Police, and NFTs …

At the height of the nonfungible token (NFT) rally in 2021, Sky Mavis, the creator of Axie Infinity, rolled in like the Trojan horse and coined the term play-to-earn (P2E) for blockchain games. Axie Infinity grew in popularity after amassing a $3 billion valuation and it steadily onboarded millions into Web3. According to Axie Infinity co-founder Aleksander Larsen, roughly 50% of Axie Infinity’s daily active users (DAUs) had never had a cryptocurrency wallet until they began playing. As a result, the Web3 ecosystem perked up at the prospect of utilizing games as a method to onboard new entrants. Despite this, …

Italian professional soccer club AC Milan will be releasing its first-ever nonfungible token (NFT) project in collaboration with the BitMEX crypto exchange, with proceeds going to Fondazione Milan, the clubs' charity arm. The limited-edition collection will feature 75,817 NFTs, a number representative of the capacity of the club's home ground San Siro stadium, and will depict a 3D image of a jersey found in South Sudan by Danish war photographer Jan Grarup who was in the country documenting widespread flooding last December. BitMEX partnered with AC Milan to contribute to the project by providing trading discounts and “other benefits” to …