Ethereum’s NFT Gas Usage Heads Towards a Two-Year Low As Inscription Demand Takes Over
Current gas usage for NFTs on Ethereum is roughly 20%, a new low for 2023 but just above the low of 16% in November. This is partly due to the growth of Inscriptions and Ordinals in the Bitcoin ecosystem, which we expect to continue as a long-term trend. DeFi is also at two-year lows, using less than 8% of the current gas usage. Inscriptions are one of the main stories for 2023, which has surpassed 350,000 inscriptions year-to-date.
NFT Company Palm Teams up with Pussy Riot to Foster Activist Art
Palm Foundation, the company behind non-fungible token (NFT) ecosystem Palm network, said Thursday it’s teaming up with Pussy Riot’s Nadya Tolokonnikova to teach a class on digital activism, as well as curate an upcoming feminist art contest with PalmDAO, a decentralized autonomous organization (DAO) governed by holders of Legendary Palm NFTs.
Starbucks Odyssey Releases ‘The Siren Collection,’ Its First Limited-Edition NFT Drop
Starbucks Odyssey, the coffee company’s Web3 loyalty program, today released its first limited edition non-fungible tokens (NFT), which it calls “Stamps.” The program, still in invitation-only beta, allows members to complete activities such as quizzes and in-store purchase to earn Stamps, which can be collected or resold on Nifty Gateway.
CryptoPunk NFT Bid Funded With 527,000 Once Worthless Testnet Ether Tokens
An NFT buyer swapped testnet ether tokens — that are supposed to be worthless — for ETH, which was then used to buy a CryptoPunk NFT.
NFT Influencer Marketing: How Brands and Creators Can Benefit from Partnering with Top NFT Influencers
Influencer marketing has been around for some time now and has proven to be one of the most effective marketing strategies for brands.
Web3 Marketing: How not to Market your Brand Like Porsche
Understand how Web3 thinks and Successfully Sell Your Brand
Banks With Crypto Services Require New Anti-Money Laundering Capabilities
The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs).
Digital Art Platform and Residency Program Wildxyz Raises $7M
Digital art platform Wildxyz has raised $7 million in seed funding to expand its residency program and community surrounding non-fungible token (NFT) art, the company said Thursday.
Gitcoin and Metalabel ‘Vitalik’ NFT Collection Takes Top Spot on Opensea
The Gitcoin Presents non-fungible token (NFT) collection is soaring in value after its open edition mint concluded Wednesday, taking the top spot across leading marketplaces. The collection is rapidly rising in interest and value because of the association of Ethereum co-founder Vitalik Buterin with the project, though his direct involvement in the NFT drop has not been established.
Most of NFT Industry Working on Recycled Liquidity, Says Forkast Labs’ Co-Founder
Little of the non-fungible-token (NFT) industry’s market capitalization can be attributed to new investors, according to Randy Wasinger, co-chief executive officer of Forkast Labs and the founder of NFT and blockchain data analytics service CryptoSlam.
