SWALLOW Launches Metaverse Platform for NFTs and Creative Expression
SWALLOW, a company focused on creative expression and personalization, recognizes the immense potential of the Metaverse as a platform to showcase their NFTs and skins, as well as to connect users with their favourite tattoo artists and artwork. To establish a strong presence in the Metaverse, SWALLOW is leveraging its vast network of tattoo artists, its track record of successful web2 ventures, and its expertise in the NFT space. The company plans to build a dynamic community within the Metaverse, where users can network, showcase their NFTs, and participate in exclusive events and experiences. By providing a platform that connects users with tattoo artists and artwork, SWALLOW is not only offering a new and exciting way to express oneself, but also empowering artists and promoting their work to a wider audience. Overall, SWALLOW is well-positioned to become a major player in the Metaverse and redefine the way people interact and express themselves online.
BTC, Satoshi Nakamoto, and JPEGs: The First Ever NFT?
As Bitcoin Pizza Day approaches, news has surfaced about a potential earlier transaction that could be the first-ever NFT involving BTC, JPEGs, and Satoshi Nakamoto himself. Crypto-archaeologist Udi Wertheimer shared a screenshot from Bitcoin discussion platform Bitcointalk that showed a member named Sabunir selling a JPEG for 500 BTC in January 2010.
Milady Meme Coin Announces Bridging between Ethereum and Arbitrum with LADYS Token and Launches Airdrop
Milady Meme Coin has announced that its native token, LADYS, can now be bridged between Ethereum and Arbitrum, transcending the limitations of blockchain technology and opening up infinite possibilities in the multi-chain world.
Binance Launches NFT Marketplace with Low Trading Fees, Featuring Drops for Celebrities and Institutions, and DogeMiyagi Offers Exclusive NFT Club for Members.
Binance, a leading cryptocurrency exchange, has entered the NFT market with its own marketplace, featuring low trading fees and exclusive drops from popular influencers.
Bitcoin-Based NFT Sales Gain Momentum, Ethereum Still Reigns Supreme
Last week saw a slight increase in non-fungible token (NFT) sales, with a rise of 1.46% compared to the previous week, reaching a cumulative value of $149.31 million. However, sales skyrocketed by 31.22% in the most recent week, reaching $208.17 million, thanks to the emergence of NFTs from the Bitcoin blockchain. Bitcoin-based NFTs, also known as Ordinal inscriptions, have become a significant contributor to the digital collectible sales landscape, ranking second among 21 distinct blockchains. The top NFT collection in terms of sales this week was "Uncategorized Ordinals," with Ethereum's Bored Ape Yacht Club (BAYC) coming in second.
NFT Market Sees Growth in Q1 2023, but Sales Volumes Dip in April and May
The NFT market experienced a significant growth in Q1 2023, with sales volumes of almost 11.5 million NFTs and a volume of $4.54 billion. This growth can be attributed to the launch of Blur, a marketplace for professional traders, which has attracted the involvement of the crypto community.
Tensor Nears Top Spot as Solana-Based NFT Marketplace Based on Market Share
Tensor, a Solana-based NFT marketplace, has seen a significant increase in market share, reaching 45% over a seven-day period. This is a significant achievement for a relatively new platform competing against a giant with almost 200 times the users. However, Tensor's co-founder, Richard Wu, emphasizes that market share is not the top priority for the platform, but rather its goal is to grow Solana 10x. The Solana ecosystem is getting stronger, and projects like Mad Lads have demonstrated incredible success with their launch on Solana.
Recent Developments in the NFT Ecosystem: Binance to Support Bitcoin-Based NFTs, Miladys Surges After Elon Musk Tweet, Aegis Custody Offers Free Services to Women, Pudgy Penguins Collection Gets $9M Funding, and More
Binance has announced its plans to support Bitcoin-based non-fungible tokens (NFTs) in its marketplace, reflecting the increasing demand for Ordinals. Miladys, a well-known NFT project, experienced a brief surge in its floor price after Elon Musk tweeted a meme featuring an avatar from the collection.
The Rise of Meme-Coins and NFTs Causing Tension and Congestion in the Bitcoin Community
The recent trend of meme-coin fever has caused a commotion in the Bitcoin community, leading to an increase in Bitcoin fees and blockchain congestion due to the creation of tokens based on the new BRC-20 standard. While some believe that Bitcoin should only be used as an alternative currency, others argue that it is an open protocol and should be used for any form of value exchange. To address the issue of rising transaction fees and congestion, developers are considering code upgrades that can alleviate blockspace limits and improve the overall system. However, any restrictions on speculative activities must be carefully evaluated to maintain Bitcoin's censorship-resistance. The governance conversation should focus on balancing individual rights with the interests of the group, which is a fundamental challenge for any blockchain community.
Miami's Crypto Enthusiasm Wanes Amid Bearish Market and Turbulent 2022
Miami and its mayor Francis Suarez are losing their enthusiasm for cryptocurrencies and blockchain technology, according to industry observers. Despite collecting his salary in Bitcoin, Suarez has lost some of his optimism on how crypto could boost the city's economy. The Miami crypto landscape is much different from what it was during last year's Bitcoin conference, with many officials and entrepreneurs modifying their narrative on crypto and no longer expecting it to become a key element in the city's drive towards becoming a major hub for business and innovation. Attendance at the Miami NFT Conference in April 2023 also dropped by about 1,500 compared with last year's edition.
Elon Musk's Tweet Sparks Spike in Controversial Milady NFT Collection Trading Volume
The Milady non-fungible token (NFT) collection experienced a surge in prices after receiving recognition from Elon Musk, the owner of Twitter. Miladys are a profile-pic (PFP) NFT featuring childlike faces, but the collection has faced controversy due to the creator's controversial behavior.
Bitcoin and Ether Drop in Asia Trading, NFT Sales Boosted, Biden Warns of Potential Global Economic Consequences of Default
Bitcoin and Ether, along with other top non-stablecoin cryptocurrencies, experienced a decline in trading during Thursday afternoon in Asia, with Polygon's Matic leading losses for the second day in a row. Meanwhile, Asian equities were mixed following China's consumer price index report, and U.S. stock futures strengthened after consumer inflation unexpectedly slowed in April. NFT sales on Ethereum saw a surge in the past 24 hours, thanks to the Milady Maker NFT collection, which experienced a 2606% increase in sales. Investors are now looking ahead to the Bank of England's monetary policy decision, which is scheduled for today.
Elon Musk's Milady NFT tweet sends $NOMEME token soaring 700% in first hour of launch
The $NOMEME token was launched after Elon Musk tweeted a Milady NFT image, causing its price to increase by 700% in the first hour and a half. The coin is now trading at $0.0003025 on Uniswap and has a trading volume of $30 million, with an impressive liquidity of $1.7 million. Analysts are already predicting potential returns of 100x. The Milady NFT collection, which Musk tweeted about, is shrouded in mystery and its value has increased by 54% on Opensea. The launch of $NOMEME has sparked interest and could potentially provide high returns for investors.
ParaSpace CEO Denies Allegations of Mismanagement of Recovered Funds in NFT Financialization Protocol
ParaSpace, a nonfungible tokens (NFT) financialization protocol, has been embroiled in controversy after its CEO, founder, and CTO Yubo Ruan was accused of mismanaging funds equaling 2,909 Ether (ETH) recovered through a white-hat interception that occurred on March 18. Ruan has denied any wrongdoing and claims that the allegations are an attempt to force him to step down as CEO.
European Union proposes Markets in Crypto Assets (MiCA) regulations to apply to crypto-related services within the EU.
The Markets in Crypto Assets (MiCA) regulation is set to become law in the European Union by July 2023, with some rules taking effect in 2024 and 2025. It applies to those engaged in the issuance, offer to the public, and trading of crypto-assets or related services. NFTs are not covered, but regulators may monitor large collections. MiCA imposes stricter rules on stablecoins, more disclosure obligations, and anti-money laundering and data security procedures.
Under MiCA, most crypto asset issuers only need to create a white paper and notify authorities in the EU country where they plan to do business. However, issuers of asset-referenced tokens (ARTs) must have their white papers approved and meet higher standards if they are "significant" in size. ART issuers must also have a registered EU office and match reserves to liabilities. The regulation includes market abuse rules and fines for incorrect information in white papers, but it may not prevent all industry blow-ups.
Michael Saylor Discusses Impact of Ordinals on Bitcoin Adoption in Recent Podcast
MicroStrategy co-founder Michael Saylor has discussed the impact of BTC Ordinals on Bitcoin mining and adoption, citing it as a catalyst for adoption. He also mentioned other factors such as bank failures, hyperinflation, and regulators referring to an asset as a commodity. Cryptocurrency exchange OKX has introduced Ordinals to its wallet and marketplace, while Binance has hinted at plans to support BTC Ordinals in collaboration with more NFT projects. In other news, MicroStrategy has purchased an additional 5,050 bitcoins for approximately $242.9 million, bringing their total holdings to 114,042 bitcoins, which Saylor believes is a better store of value than gold.
UK Crypto Industry Seeks Global Collaboration with Regulators to Avoid Post-Brexit Isolation
Stakeholders in the UK's crypto industry have welcomed proposed legislation for regulation, but are urging collaboration with global regulators to avoid isolation after Brexit. The UK plans to regulate crypto under existing frameworks and may publish crypto-specific rules within the next year. However, concerns have been raised by the Association of Financial Markets in Europe that the UK's authorization regime could damage its reputation as an open market. CryptoUK, AFME, and Binance have called for a transition period and clarity on the scope of economic activities and treatment of assets like NFTs.
NFT Trading Volumes Surge in Q1 2023 on Ethereum, Thanks to Blur's Native Token Airdrop
NFT trading on Ethereum saw a significant surge in Q1 2023 compared to the previous quarter, largely due to the airdrop farming frenzy for Blur's native token. Data from Nansen shows that NFT trading volume more than doubled in Q1 2023, with a modest increase in the number of unique wallets trading NFTs. However, NFT activity for this spring shows a slightly more bearish picture, with a 30% decline in trading volumes across various marketplaces in April and the lowest number of sales and users reported in the first week of May. Despite this, trading volumes in USD terms remain high due to Ethereum's bullish start to the year.
Crypto Evening Briefing: Crypto Startups Raise Approx $52 Million in the Past Week
Last week, crypto startups raised approximately $52 million, with Fedi raising $17 million and zkLink raising $10 million.
Hong Kong NFT Firm Artifact Labs Raises US$3.25 Mln in Seed Round
Artifact Labs, a Hong Kong-based non-fungible token (NFT) company, has raised $3.25 million in its seed financing round led by Blue Pool Capital and Animoca Ventures. The company, which is a spinoff of Hong Kong newspaper South China Morning Post, plans to use the funds to expand operations and increase its technical headcount. Artifact Labs aims to release NFT collections as a revenue stream for preservation organizations and drive engagement with historically significant collections using Web3. The company previously partnered with RMS Titanic Inc. to mint NFTs based on physical artifacts recovered from the sunken ship. Gary Liu, founder of Artifact Labs, has emphasized the importance of NFTs possessing intrinsic value beyond endorsement by a group of people.
