MechaFightClub NFT Game 'Paused Indefinitely' Due to US Regulations
Irreverent Labs, the creators of MechaFightClub, have announced an indefinite pause in the development of their Solana-based cock-fighting NFT game due to regulatory challenges surrounding the future of crypto in the United States. The game had reached "alpha" status, but its makers believe that the lack of clarity in regulations makes it difficult for organizations such as theirs to operate. The United States Securities and Exchange Commission (SEC) has increased its enforcement actions against crypto start-ups and platforms, creating huge friction. The team has also announced a repurchase program for any MFC NFT from the genesis mint. The game may resurface in the future in another form, but right now, nothing is certain.
Artist Jack Butcher unveils new generative art collection featuring physical and digital components, Checks Elements, to be auctioned at Christie's
Jack Butcher, the artist behind the successful open edition NFT collection Checks, has announced a new project called Checks Elements. This generative art collection features physical and digital components and incorporates the motifs of earth, fire, water, and air into 152 generative art pieces that also feature Twitter checkmarks. Each piece comes with an NFT and a matching hand-finished monoprint. The collection will be auctioned at Christie's, with a portion of the proceeds donated to St. Jude's Research Hospital. The project also includes gamified elements that benefit collectors who have purchased previous works from Butcher and his creative agency, Visualize Value.
IOTA Shares Concerns Over European Parliament's Proposed Crypto Regulations, Including Inconsistent Terminology and One-Size-Fits-All Approach for NFTs
IOTA has expressed concerns about the proposed crypto regulations by the European Parliament, citing inconsistent terminologies, the treatment of NFTs, self-hosted wallets, and DeFi. The IOTA Foundation has been working with government agencies to address regulatory concerns in different sectors of the cryptocurrency market. The European Parliament recently passed anti-money laundering and anti-terrorism legislation to create transparency requirements for digital asset transfers. The IOTA Foundation has submitted a proposal outlining its views and concerns regarding the AMLR proposal, including the need for clarity on NFT regulations and maintaining distinctions between wallets, addresses, and accounts.
Spacebrat's First Open-Edition NFT Minted over 300,000 Times!
Last week, artist Spacebrat partnered with CXIP Labs to release an open-edition NFT titled "Gleam" using Holograph technology. The protocol allowed collectors to mint the NFT for free on multiple blockchains, including Ethereum, Avalanche, BNB Chain, and Polygon. The majority of collectors chose Polygon due to its low gas fees compared to Ethereum's high transaction costs. Spacebrat's NFT was minted over 300,000 times, marking her first entry in Web3 and a significant accomplishment in the NFT space. The NFT is now available for purchase on secondary markets like OpenSea with unique pages for each chain.
Immortal Game and Polo & Pan Team Up for Limited Edition NFT Chess Pieces with Music and Visual Animations
Immortal Game, a fast-growing Web3 project, has teamed up with French electronic music group Polo & Pan to create a limited edition collection of 500 unique digital chess pieces sold as NFTs on Ethereum scaling network Polygon. The tie-up aims to bring music into chess through a unique and limited collection of chess pieces. The Polo & Pan-designed NFT chess pieces unlock new quests, provide access to private tournaments, and offer visual animations and audio soundtracks from the artists. Holders will also gain access to real-world perks, including concert tickets, curated Spotify playlists, the opportunity to play online against Polo & Pan, and voting rights on future collections.
Report Illustrates Breakneck Speed of "Financialization" of NFTs
A new report by Reflexivity Research highlights the rapid financialization of non-fungible tokens (NFTs), with NFTs becoming more complex and sophisticated in their interactions such as trading, lending, and borrowing. However, the report also points out significant problems, including reputational and environmental concerns. The popularity of NFTs has grown, particularly among artists seeking to monetize their assets, but the report warns of severe environmental consequences, with NFTs accounting for 30% of all Ethereum gas usage. The report also identifies market factors driving financialization, including the launch of BLEND, an NFT loan platform, and the rise of the NFT marketplace Blur.
New NFT Standard Allows for Personalized Wallets and Greater Flexibility
A new standard for NFTs, ERC-6551, has been introduced that allows NFTs to have their own wallets called Token Bound Accounts (TBA). This allows users to store any asset in any NFT they own, leading to hyper-personalized interactions with dApps and platforms. TBAs also enable greater flexibility and better user experience, potentially leading to new use cases such as loyalty programs and in-game rewards based on an NFT's past behavior. The STAPLEVERSE project has already implemented the TBA standard, which enables more sophisticated use cases and better user experience.
FlerkenS: Moving towards Web3 data democratization
FlerkenS is a blockchain-based data collection platform, aimed at achieving user data autonomy, democratization and tokenization in the Web3 environment
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.
