NFT | ForkLog - Part 5

ForkLog 41 01.11.2024

NFT Creators Found Guilty of Rug Pull Scheme

Two U.S. citizens have been found guilty of conducting a rug pull following the successful launch of NFT collections, according to a press release from the Department of Justice. Twenty-one-year-old Berman Jerry Nowlin Jr. and 25-year-old Devin Alan Roden created two NFT collections on the Solana blockchain: UndeadApes and Undead Lady Apes. NFT collections UndeadApes […]

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ForkLog 7 28.10.2024

Beeple Observes Speculators’ Exit from the NFT Market

Despite a decline in activity in the NFT sector since 2021, enthusiasm for it remains high. This was stated by artist Mike Winkelmann, known as Beeple. He noted the sale of a token from the CryptoPunk collection for $16 million, which took place in March this year. “To me, it’s crazy how normalized this has […]

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ForkLog 33 07.10.2024

Telegram to Introduce NFT Conversion for Gifts on TON Blockchain

Pavel Durov has announced the conversion of a limited number of gifts into NFTs on the TON blockchain later this year. Users will be able to trade them outside of Telegram. On October 5, Telegram introduced a new feature for sending gifts using stars (Telegram Stars)—the messenger’s internal currency. These gifts appear as animated images, […]

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ForkLog 20 04.10.2024

From music NFTs to AI content: how Web3 analogues of Spotify and SoundCloud work

Streaming services once revolutionised the production, distribution and consumption of music. Scouts now sift through thousands of recordings online in search of future stars; Billie Eilish and Doja Cat found global recognition thanks to SoundCloud; and Spotify has more than 615 million users. Yet the industry’s giants are not without flaws, and independent artists in […]

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ForkLog 19 04.10.2024

Anonymous Buyer Acquires CryptoPunk for 24,000 ETH

On October 3, CryptoPunk #1563 was sold for 24,000 ETH (~$56.29 million), doubling the previous highest amount spent in US dollars for a token from the collection during the NFT craze before February 2022. Punk 1563 bought for 24,000 ETH ($56,292,000.00 USD) by 0x9cbb3d from 0xba1349. https://t.co/FqDvGZvg05 #cryptopunks #ethereum pic.twitter.com/hWimHKYb0x — CryptoPunks Bot (@cryptopunksbot) October […]

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ForkLog 48 24.09.2024

Play Solana Launches Pre-Orders for PSG1 Gaming Console

On September 24, Play Solana began accepting pre-orders for the PSG1 portable gaming console, which supports blockchain applications. The device is priced at $199. Our pre-order is officially going live in 1 hour! NFT holders will have an exclusive 48-hour window (or until we sell out) to purchase their PSG1 for $199.https://t.co/udadmmbj4s pic.twitter.com/zXodDXDmB0 — Play […]

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ForkLog 17 23.09.2024

OpenSea Faces Lawsuit Alleging NFTs as Securities

Two clients of OpenSea have filed a class-action lawsuit against the NFT marketplace, accusing it of selling unregistered securities contracts. This was reported by Cointelegraph citing court documents. Anthony Schneiderman and Itai Bronstein claimed that the non-fungible tokens purchased on the platform, including Bored Ape Yacht Club, are worthless “due to their illegal nature.” The […]

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ForkLog 24 21.09.2024

NFTs: A Superior Tool for Community Building

Despite the rise of meme coins, non-fungible tokens (NFTs) remain the superior method for community building. This view was expressed by Pudgy Penguins CEO Luca Netz at the Solana Breakpoint conference, as reported by The Block. “Meme coins do not provide a profile picture through which you can easily identify someone online who shares [your] […]

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ForkLog 22 06.09.2024

Rare CryptoPunk Sells for $1.5 Million with a 78% ‘Paper’ Loss

On September 5, CryptoPunk #6915 changed hands for 620 ETH ($1.48 million). This NFT is one of 24 ape-themed CryptoPunks featuring three attributes: a hat, an earring, and an eye patch. According to CryptoPunks data, in March 2024, when the monthly NFT sales volume was around $1.6 billion, offers for #6915 ranged from $5 million […]

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ForkLog 43 04.09.2024

Experts Declare 96% of NFTs ‘Dead’

Experts from NFT Evening, after analyzing 5,000 collections and 5 million non-fungible token transactions, have concluded that 96% of them are dead. This category includes NFTs with zero sales volumes, low sales over a week, and no project activity on X. According to these criteria, the trend of collectible asset demise peaked in 2023, exceeding […]

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ForkLog 65 29.08.2024

Trump’s Fourth NFT Collection Surpasses $2 Million in Sales

On August 27, former U.S. President Donald Trump introduced his fourth NFT collection, titled Series 4: The America First Collection. Source: Truth Social. The digital cards feature various images of the politician, priced at $99 each. Depending on the number of NFTs purchased, buyers receive different gifts, ranging from limited edition golden sneakers to a […]

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ForkLog 42 20.08.2024

CryptoPunk Sold at a Loss After $24 Million Purchase

Deepak Thapliyal, the owner of the most expensive CryptoPunk #5822, who acquired the token for 8000 ETH ($23.7 million at the time of the transaction) in 2022, has parted with the asset without disclosing the sale amount. End of an Era. ? #5822, Enjoy your new ? — Deepak (@dt_nfts) August 19, 2024 On August […]

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