The funny thing about many of the absolutely insane things happening in the world today is that from a certain perspective, they actually make perfect sense. Take the famous brands buying metaverse real estate, for example. At first glance, it makes no sense at all. At second glance, assuming the user base of the respective projects grows over time, it’s like buying an ad banner on a website, just at a higher markup. Considering how many headlines you get on the purchase, the purchase becomes quite sensible even if you do nothing with your plot of virtual land. It’s quite …

For all the cynical narratives that circulate the mainstream zeitgeist, which perceives nonfungible tokens (NFTs) as little more than means of inflating capitalistic principles, every so often projects emerge that disprove those absolute assumptions and serve as reminders of the essence, soul and founding purpose of the space. For Amelia, a 9-year-old Polish girl with a lovable devotion to cats and a budding artistic curiosity, discovering NFTs enabled her to cultivate her interests into a digital passion project. Cointelegraph sat down with Amelia and her father, Marcin, to discuss the importance of parenting children on the value of money and …

Austin Powers supporting actor Seth Green has sparked a debate over who owns the commercial rights to use a Bored Ape Yacht Club nonfungible token (NFT) after his Apes were stolen and sold to another party Green tweeted on May 18 that four of his NFTs including BAYC #8398, Mutant Ape Yacht Club (MAYC) #9964 and #19182 and Doodle #7546 were stolen from him after he visited a phishing site. Green, the creator of Robot Chicken and co-star on Family Guy, noted that someone with the pseudonym DarkWing84 had already bought the BAYC NFT. Now, legal experts and community members …

Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million, making NFTs a media hotshot and opening the floodgates for a string of other NFT sales, many of these in millions of dollars. Prompted by the plentiful talk about NFTs, stars like Paris Hilton, Lindsay Lohan, Eminem, Grimes and many …

The fever-pitch euphoria of nonfungible tokens (NFT) reached its proverbial all-time highs in the hours preceding the calamitous gas wars of the Otherside metaverse land sale. But, by most reputable accounts, following almost a year of frantic exponential growth, rife speculation and cultural spotlighting, the market was long overdue a respite — a hiatus from minting drama. It has now subsided and officially entered its inaugural bearish cycle. Statistical data from OpenSea paints a sorrowful assessment of the market’s financial fortunes, with the floor prices of some highly popular collections more than halving since peak highs. The eminent Bored Ape …

The creator of the Fearless Girl statue in New York, which stands for the empowerment of women, has brought the emblem into the crypto space by dropping a nonfungible token (NFT) counterpart for the symbolic art piece. In an interview with Cointelegraph, sculptor Kristen Visbal told the story behind the artwork’s significance and how she aims to use it to empower women in crypto. According to Visbal, the piece is a symbol that fights for equality, the need for gender collaboration and parity. She explained that: “Fearless Girl legally stands for the empowerment of women, equality, equal pay, supporting women …

The founder of the $723.5 million Azuki nonfungible token (NFT) project “Zagabond” caused a sh*tstorm yesterday after revealing that they had previously worked on three abandoned NFT projects. After facing strong backlash from the NFT community, they have since apologized for their “shortcomings.” The three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and CryptoZunks. “Zagabond” suggested all three had failed due to a lack of community support and other factors such as team members leaving or high gas fees on Ethereum. After releasing the blog via Twitter, most replies were in support of “Zagabond’s” honesty on the trial …

According to blockchain digitization provider Tokeny, on Monday, the Royal Museum of Fine Arts Antwerp (KMSKA) became the first European museum to tokenize investment in fine art, starting with Belgian painter James Ensor's (1860–1949) painting, "Carnaval de Binche." Investors can obtain fractional ownership of the work starting from 150 euros (or about $158). The venture is a joint effort between KMSKA, Tokeny and blockchain art entity Rubey, with the tokens, themselves, being ERC-3643 compliant and launching on the Polygon (MATIC) blockchain. As told by the parties, the ultimate goal of the collaboration is to lower the investment barriers to entry …

There’s been a tremendous amount of hype and misinformation about nonfungible tokens (NFTs) since they appeared on the scene in 2014, particularly since the total market for them passed $24 billion. You can’t open a news feed without an article about nonfungible tokens popping up. These inevitably contain the obligatory “An NFT is a” paragraph for newcomers… and for readers who’ve consumed a dozen similar articles but still don’t get it. If you’re among the latter, you’ve come to the right place. NFTs really can be important and useful, and they’re evolving to become more so. But NFT evangelists and …

This week's Nifty News sees the arrival of Louis Vuitton to the NFT gaming scene, Johnnie Walker's entry into Web3 and Elon Musk's apparent embrace of Bored Ape Yacht Club. Louis Vuitton makes its mark in the NFT gaming scene To commemorate Louis Vuitton’s bicentennial birthday in late 2021, the French luxury brand launched an NFT game called Louis The Game. At the time of publication, the game has been dowloaded more than 2 million times on both Android and iOS devices. Louis The Game follows its protagonist, Vivienne, as she overcomes challenges and acquires candles and other collectibles. NFT …

Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder. Griffin — who Forbes estimates to be worth around $26 billion — has made numerous anti-crypto comments and urged others away from it in the past but appears to have gradually softened his stance over time. He also said that Citadel will make a play once it can do so in a compliant manner. Speaking on the value of crypto at the Milken Institute Global Conference in Los Angeles on Tuesday, Griffin drew comparisons …

A court in the Chinese city of Hangzhou issued a one-of-a-kind judgment against a nonfungible token (NFT) marketplace for allowing a user to create (or mint) NFTs of stolen artwork. As reported by South China Morning Post, the court verdict toward the NFT marketplace was made after Shenzhen-based company Qice filed a lawsuit against NFTCN’s parent company, BigVerse. The lawsuit claimed that an NFTCN user stole a copyrighted artwork of Ma Qianli, a Chinese artist specializing in drawing and printing. The user of the NFT platform allegedly poached one of Ma’s cartoons. Based on the evidence collected, the court found …