NFT News Today February 24 2022

NFT news today February 24 2022 can be accessed below:

What are NFTs? 

NFTs are: Nonfungible tokens, or NFTs, are verifiably unique digital and physical commodity representations. Each NFT is unique in terms of its composition, and thus in terms of its worth.

iexclusive News Nigeria has compiled the latest news on NFT making rounds this week.

NFTS MOST POPULAR ASSETS ON ETHEREUM, BUT WRAPPED BITCOIN GROWTH STALLS

Transfers of nonfungible tokens (NFT) on Ethereum have surpassed transfers of stablecoins and altcoins while the supply of wrapped Bitcoin (WBTC) has remained relatively stagnant since late last year. Those are two of the key findings in the latest State of the Network update from Coin Metrics. It details how ERC-721 transfers overtook stablecoins and altcoins on Ethereum starting last July and have continued to increase the margin between them ever since. READ More

JUPITER META LAUNCHES FIRST FULLY CURATED NFT MARKETPLACE IN INDIA 

Jupiter Meta, India’s first fully organized non-fungible token (NFT) market, is set to go live on February 23. The digital marketplace, or metaverse, will concentrate on music, movies, and games, providing unique experiences for each user and allowing everyone to make the most of their time in the metaverse. The Metaverse is the future of augmented reality and virtual reality technologies, with technologies that go beyond gaming to enable innovation.. READ More

PUMA CHANGES NAME TO PUMA.ETH ON TWITTER REGISTERS ENS DOMAIN

Puma is the latest major brand to buy a decentralized URL and reveal their nonfungible token, or NFT, by changing their Twitter handle to Puma. eth. The domain name was registered with the Ethereum Name Service, or ENS, by the German sportswear company. Budweiser, an Anheuser-Busch InBev subsidiary, purchased Beer. eth through ENS on OpenSea last year for 30 ETH. READ More

OPENSEA NFT PHISHING ATTACK AFFECTED 17 USERS

OpenSea, the non-fungible tokens NFT marketplace, claimed that 17 people were affected by the phishing attack on Sunday. Rather than the 32 users previously reported. The phishing attack was targeting smart contracts on OpenSea’s platform. “Our original count included anyone who had interacted with the attacker.”  “Rather than those who were victims of the phishing attack,” the marketplace tweeted on Monday. READ More

GOONS OF BALATROON: AN INTERVIEW WITH THE TEAM

The Goons of Balatroon team took time out to talk about their wacky collection. We chatted about their plans to create a universe with its own sustainable economy, its own token (GOB). A place where fun is the essential ingredient. The Goons are factions of sentient beings in an alternate universe where some crazy stuff has happened. Long story short, there’s time travel… mutations… greed… corruption… and as a result, 9696 wacky ERC-721 NFT characters on an ancient land called Balatroon. READ More

OPENSEA STALLS PLANNED UPGRADE AS PHISHING ATTACK TARGETS NFT MIGRATION

OpenSea announced a smart contract upgrade yesterday, requiring users to migrate their listed NFTs from the Ethereum (ETH) blockchain to a new smart contract. As a result of the upgrade, users who do not migrate from Ethereum risk losing their old, inactive listings — which currently do not require any gas fees for migration. READ More

HARMONY LAUNCHES BORED APE YACHT CLUB NFT PASSPORT

Harmony a blockchain platform, whose mainnet runs on the Ethereum network, claiming to have two-second transaction finality and fees 1,000 times lower than Ethereum. The Bored Ape Yacht Club Passport was announced on Friday.The Passport allows users to import proof of their apes into DeFi Kingdoms, a play-to-earn game with over 120,000 monthly active users built on the Harmony blockchain. READ More

OPENSEA SMART CONTRACT UPGRADE TO DELIST INACTIVE NFTS ON ETHEREUM

OpenSea, one of the most prominent nonfungible token (NFT) exchanges, has updated its smart contract as part of a proactive effort to weed out inactive listings on the site. All OpenSea users will be required to convert their NFT listings, which are now hosted on the Ethereum (ETH) blockchain, to the new smart contract as part of the scheduled upgrade. READ More

ART LOVERS CAN OWN PART OF AN NFT OF GUSTAV KLIMT’S ‘THE KISS’

The Belvedere museum in Vienna collaborated with the artèQ investment fund to launch a nonfungible token (NFT) drop inspired by one of Austrian painter Gustav Klimt’s most famous works “The Kiss.” Released on Valentine’s Day, a digital copy of this early 20th century depiction of a pair of lovers was divided into a 100-by-100 grid of 10,000 individual pieces offered as NFTs. READ More

HOW NFTS COUNTERFEIT RESULTED IN MARKETPLACE SHUTDOWN

NFTs, “Rampant” issues relating to minting counterfeit nonfungible tokens, have forced popular platform Marketplace Cent to halt some operations. Marketplace Cent Founded in 2017, kicked off as a “social network and informal platform for creative experimentation.” In 2020, the team also launched an NFT platform called Valuables to mint and auction iconic tweets. READ More

NFT FRAUD: UK TAX AUTHORITY MAKES FIRST SEIZURE IN £1.4M VAT SCAM

NFT Fraud..The UK tax authority has seized three Non-Fungible Tokens as part of an investigation into suspected VAT fraud involving 250 alleged bogus companies. HM Revenue and Customs (HMRC), the United Kingdom’s chief tax authority, has seized three nonfungible tokens (NFTs) associated with a suspected tax evasion fraud. READ More

NFT PRESALE AND PUBLIC MINTS: WHAT YOU NEED TO KNOW

NFT Presale, as the name implies, is the process of opening the minting process to community members or early supporters of an NFT project before the official launch to the public, usually through a whitelist or a mint pass. NFT, Non-Fungible Token, collections appear on a daily basis, giving collectors the opportunity to be the first buyer of an NFT – a process known as “minting.” READ More