37 articles found
⚡ ZachXBT Aids Owner of Stolen DeGods NFT in Recovery Effort
🔥 Rarible's Chief Advocates for Enhanced NFT Utility
Jana Bertram, who leads the RARI Foundation, incorporating the NFT marketplace Rarible, acknowledges that NFT technology is generally perceived unfavorably within much of the crypto community. She suggests that a rebranding could potentially shift this perspective, but admits it's not a definitive solution.
Xterio announces plans for an NFT marketplace
Xterio, the gaming Web3 platform, has revealed its decision to create an independent ecosystem following OpenSea's refusal to charge author royalties on NFT resales. This new initiative will support content creators through the launch of an NFT marketplace, exclusive tokens, a rewarding mechanism, and diverse affiliate programs. Xterio's officials have said that the launch of this marketplace is imminent, expected within the following weeks.
🚀 OpenSea Forges Ahead with Platform Update
OpenSea Head of Product Receives Prison Sentence
OpenSea Head of Product Receives Prison SentenceNate Chastain has been sentenced to three months in prison for engaging in insider trades that amounted to $50,000. Chastain, aged 33, was found guilty of fraud and money laundering in a federal court in New York in May. This case marked the conclusion of what prosecutors deemed the first significant NFT insider trading case. Chastain profited by purchasing and selling at least 45 NFTs he was aware would be featured on OpenSea’s homepage. U.S. Attorney stated, “Today’s sentence should serve as a warning to other corporate insiders that insider trading – in any marketplace – will not be tolerated.”
OpenSea will make author royalties optional
Beginning on August 31, the popular NFT marketplace OpenSea will not charge royalties for NFT secondary transactions, signaling a change in artist earning policy. Previously, creators were able to set a commission of 2.5% to 10% and earn from every resale. However, with the new update, the creator fee is left up to the discretion of the buyer. For collections on non-Ethereum blockchains, the creator fee will only remain mandatory until February 29, 2024. After this date, the entire platform will make royalties optional.
A $2.5 Million NFT Parked Instead of Ferrari
Altr, a marketplace utilizing NFTs to trade in luxury assets, made headlines by successfully selling an NFT-backed Ferrari F40 worth $2.5 million. Instead of receiving the vehicle, the buyer got a digital ownership certification in the form of an NFT. The seller, meanwhile, has pledged to store and maintain the car until the owner claims the physical asset. Additionally, Altr offers fractional NFT ownership, empowering several investors to collectively own a high-value item. A tricky choice: to purchase an NFT for a Ferrari wheel or an entire Opel?