Non-fungible tokens

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Tech Entrepreneur Suggests Mainstream Companies May Have Adopted NFT Loyalty Programs Prematurely

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According to Juan Otero, CEO of the crypto-native travel booking platform Travala, many mainstream companies that attempted to use non-fungible tokens (NFTs) for customer or user loyalty programs may have seized the opportunity prematurely. Otero argued that at the time, Web3 companies had not “even figured out the best ways to use NFTs in loyalty … Read more

Sky Mavis Reports Return of $5.7 Million in Digital Assets Stolen During Ronin Attack

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Sky Mavis announced that Norwegian authorities have recovered and returned $5.7 million in digital assets stolen during the Ronin bridge incident. The Web3 game developer stated that an additional $40 million in digital assets is currently frozen. However, the company cannot predict when it will be able to recover and return these funds. FBI Involved … Read more

US Treasury: NFTs and NFT Platforms Highly Susceptible to Fraud and Scams

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A risk assessment conducted by the U.S. Treasury Department found that non-fungible tokens (NFTs) and related platforms are highly susceptible to use in fraud and scams. The risk assessment also warns that criminals can exploit NFTs to launder illicit proceeds or “obfuscate the source of funds.” NFTs Likely to be Used in Fraud and Scams … Read more

Football Star Cristiano Ronaldo Seemingly Ignores $1 Billion Lawsuit After Urging Fans to Sign Up Latest NFT Drop

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The Portuguese footballer Cristiano Ronaldo has informed his 111 million followers on the social media platform X to prepare for the unveiling of his latest collection of non-fungible tokens (NFTs) on Binance. In a post dated May 24, Ronaldo encouraged his followers who are eager to relive the NFT journey to register for his fourth … Read more

Ghana Postal Company Launches ‘Crypto Stamp’ to Mark Ascension of Traditional Ghanaian Ruler

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The Ghana Post Company recently launched what it termed the first-ever crypto stamp to commemorate the 25th anniversary of the reign of a ceremonial ruler in Ghana. The managing director of the Ghana Post Company asserted that the crypto stamps would act as a bridge, linking the older and younger generations of Ghana. Crypto Stamp … Read more

Faisal Al Monai: Convergence of AI and Blockchain Is a Solution to Data Integrity Issues in AI Model Training

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The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth … Read more

Yuga Labs Resumes Layoffs; CEO Says Web3 Platform ‘Lost Its Way’

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According to Greg Solano, co-founder of Yuga Labs, the Web3 platform has laid off additional workers partly because it had “lost its way.” Solano also encouraged employees uninterested in the next phase to consider accepting the same severance package offered to those affected by the layoffs. Convoluted Corporate Processes Yuga Labs, the Web3 platform behind … Read more

Cryptopunk #635 Achieves $12.41M Sale, Joins Ranks of Top Priciest NFTs

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On Thursday, a Cryptopunk NFT with an alien theme changed hands for 4,000 ether, equivalent to $12.41 million. This particular Cryptopunk, #635, ranks as the sixth priciest in the Cryptopunks collection. Cryptopunks Collection Sees Another Major Sale With $12.41M Transaction In 2024, another significant transaction involving Cryptopunk #635 took place on Apr. 25, fetching 4,000 … Read more

Crypto Exchange Okx Partners With Manchester City to Launch Football Shirts Mintable as Digital Collectibles

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Okx and the English football club Manchester City have partnered to launch commemorative football shirts that can be minted as non-fungible tokens (NFTs). Fans of Manchester City, the reigning English football champions, will be able to mint the “Unseen City Shirts” digital collectible from April 22-25. Authentic Fan Engagement The cryptocurrency exchange Okx and the … Read more