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NFT News
TechCrunch
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NFT phenom CryptoPunks was just sold to a nonprofit
- Yuga Labs, the creator of Bored Ape Yacht Club, sold CryptoPunks to the nonprofit NODE Foundation, focused on preserving digital art.
- The deal details remain undisclosed, and a $25 million grant was received by NODE Foundation in April to develop the future of digital art.
- Yuga Labs acquired CryptoPunks in 2022 amid the NFT craze, where the highest-priced NFT sold for nearly $24 million.
- Malka mentioned that CryptoPunks sparked a cultural movement and NODE aims to make this landmark work more accessible for people.
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Cryptoticker
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Image Credit: Cryptoticker
PENGU vs. DOOD: Which Token is Winning the NFT Race?
- Pudgy Penguins (PENGU) and Doodles (DOOD) have launched their own native tokens on Solana to strengthen ecosystems and reward communities.
- PENGU's market cap stands at around $874 million with a current price of ~$0.0138, while DOOD's market cap is approximately $45 million with a price of ~$0.0057.
- PENGU experienced heavy volatility after the launch but showed resilience with strong recovery, while DOOD struggled to maintain momentum due to confusion over utility and its Solana launch.
- PENGU integrated with physical products and partnerships like Walmart and Amazon, showing better resilience compared to DOOD, which is still defining its real-world utility.
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The Verge
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The CryptoPunks NFTs are being sold to a non-profit as their value continues to fall
- CryptoPunks, one of the oldest and most valuable NFT brands, is being sold to Infinite Node Foundation, a non-profit focused on preserving digital art, by Yuga Labs, the creator of Bored Ape Yacht Club.
- The terms of the deal between Yuga Labs and Infinite Node Foundation have not been disclosed. Despite the high sales of CryptoPunks in the past, the NFT market has now stagnated.
- Yuga Labs will not integrate the CryptoPunks token collection into their gamified Otherside metaverse. The focus now is on making CryptoPunks relevant in the mainstream art industry.
- Node Foundation intends to showcase all 10,000 CryptoPunks tokens at their permanent exhibition space in Palo Alto and at the Toledo Museum of Art to make them more accessible for scholars, curators, and collectors.
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TronWeekly
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Bitcoin Nears Highs, Exchange Outflows and Macro Moves Drive Momentum
- Bitcoin surged by 9.01% in a week, reaching $103,276, nearing its January peak.
- Over 3,000 BTC were withdrawn from Binance, hinting at increased investor holdings.
- Binance's BTC reserves dropped significantly from 595,000 BTC in February to 541,400 BTC in mid-May, indicating a trend of moving assets off exchanges.
- The rise in Bitcoin price is supported by macroeconomic factors such as improved U.S.-China trade relations, with the Fear & Greed Index signaling cautious optimism among investors.
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10 Likes
Coinjournal
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Image Credit: Coinjournal
Pi Network price dips 25% after 8M unlock, with 13M more tokens set for May 15
- Pi Network (PI) experienced a 25% dip in price following the release of 8 million tokens into circulation, causing the value to drop from $1.40 to around $1.10.
- A significant increase in trading volume, reaching $1.63 billion, was observed, with a single transaction involving 90 million PI tokens, indicating whale trades influencing market direction.
- Concerns arise over the upcoming release of 13 million more PI tokens on May 15, potentially leading to further price declines if demand-side fundamentals can't absorb the increased supply.
- Speculation around a potential listing on centralized exchanges, particularly Binance, mounts as the Pi Core Team is expected to make an announcement on May 14, one day before the next token unlock.
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19 Likes
Cryptoninjas
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Binance vs. Robinhood: Which One Is Better for Trading Crypto and Bitcoin?
- Binance and Robinhood are popular investment platforms in the crypto industry offering a range of trading options for cryptocurrencies like Bitcoin and Ethereum.
- Binance supports a wide range of assets, advanced trading tools, and earning opportunities, catering to experienced traders, while Robinhood is beginner-friendly and offers commission-free trading.
- Binance serves a global user base, excluding the US, while Robinhood primarily caters to the US, UK, and EU.
- Binance lists over 350 cryptocurrencies, compared to Robinhood's 22+, making it ideal for those seeking a wider variety of assets.
- Binance offers advanced trading tools and features like futures, staking, and an NFT marketplace, while Robinhood provides simplicity and ease of use for casual investors.
- Binance has a tiered fee structure with discounts available, whereas Robinhood offers commission-free trading but earns through spread markups.
- Binance stands out with features like trading bots, Web3 wallet, and a referral program, while Robinhood offers tools like multi-asset brokerage and the Robinhood Gold Card.
- Both exchanges prioritize security; Binance features the SAFU fund and cold storage, while Robinhood employs 2FA and Bcrypt encryption.
- Customer support reviews show Binance as more responsive, with a structured system, compared to mixed reviews for Robinhood's service.
- Choosing between Binance and Robinhood depends on user preferences, with Binance suited for global users, frequent traders, and passive income seekers, while Robinhood is ideal for casual traders, stock investors, and simplicity.
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NullTX
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Binance Dominates TRON USDT Transfers, Cementing Market Leadership
- Binance continues its dominance in the digital asset space with a commanding share of USD Tether (USDT) transfers on the TRON blockchain.
- Data from analytics platform Dune shows that Binance controls around 60% of all USDT activity on TRON, far surpassing its competitors combined.
- Binance moves approximately $600 million in USDT daily, compared to competitors handling around $10 million daily on TRON.
- TRON's blockchain has become popular for stablecoin transactions due to low fees and fast confirmation times, with Binance leading in USDT transfers.
- Binance's dominance is attributed to its scale, infrastructure, and trust, serving professional traders and institutional investors with high liquidity.
- The platform's efficiency in managing billions of dollars in assets daily positions it as a key player in maintaining stability and liquidity in the market.
- Binance's control over stablecoin movement raises implications for digital economy payments, cross-border remittances, and stablecoin policy conversations.
- Questions arise regarding decentralization, competition, and resilience when one entity like Binance holds a majority of public blockchain transactions.
- In the stablecoin sector, Binance significantly outperforms its competitors, showcasing its dominance and influence in the market.
- With daily TRON-based USDT transactions exceeding $600 million, Binance's role in transferring value globally surpasses traditional fiat currencies.
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Crypto-News-Flash
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Bitcoin SV News: Investors Push to Reinstate ‘Loss of Chance’ Lawsuit Targeting Binance
- Bitcoin SV investors are seeking to revive a lawsuit against Binance in the UK Court of Appeal, claiming that Binance's 2019 delisting of BSV led to long-term financial losses.
- The claim, if successful, could result in damages exceeding $13 billion, alleging that BSV was deprived of the opportunity to grow like Bitcoin due to the delisting.
- The litigation accuses Binance and three other exchanges of anti-competitive behavior by coordinating the removal of BSV, potentially reshaping how digital assets are regulated under UK competition laws.
- The legal proceedings have caused a brief spike in BSV's price, reflecting investor optimism about the case's outcome, while Binance's 2019 decision to delist BSV stemmed from industry criticism of the project's founder and technical flaws.
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18 Likes
Minis
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Young Indians still bitten by bug to build future in US, says Nithin Kamath; User responds
- Zerodha CEO Nithin Kamath, in a tweet, said, "Most Americans I know with money want to invest in India because they believe they are plateauing as a nation and that we are the future. But somehow, young Indians are still bitten by the bug to travel to America to build their future. This is such a dichotomy."
- In response to this, a user responds, "Americans investing in India for monetary benefits. Indian students escaping India for lifestyle rewards. Two things are not same and there is no dichotomy."
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24 Likes
Minis
2y
604
Image Credit: Minis
Ex-OpenSea manager convicted in NFT insider trading case
- Nathaniel Chastain, a former manager at OpenSea, the world's largest NFT marketplace, has been convicted of fraud and money laundering.
- Chastain used inside knowledge to make personal NFT trades and earned over $50,000 in profit.
- He had pleaded not guilty to the charges brought against him.
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18 Likes
Minis
2y
498
Image Credit: Minis
Sotheby's auction house launches marketplace for secondary NFT sales
- Sotheby's auction house has launched a secondary sales platform, accessible via the Sotheby's Metaverse virtual store, allowing 13 digital artists to sell their artwork directly to their audience without going through the New York institution.
- The platform will enable artists to sell both existing and yet-to-be-created artworks. Sotheby's will pay out royalties on transactions conducted on the Sotheby's Metaverse platform.
- The artists approved to sell their digital art on the platform include Tyler Hobbs, Claire Silver and Sarah Zucker. NFT owners are also free to take their NFTs to other exchanges that don’t honor royalties.
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20 Likes
Minis
2y
535
Image Credit: Minis
These ultra-realistic masks of Elon Musk, Jeff Bezos & Mark Zuckerberg that cost $20,000 a piece
- Digital artist Mike Winkelmann, aka Beeple, created a surreal vision at the NFT NYC 2023 event using highly detailed silicone masks of various controversial figures.
- The masks were made by Landon Meier, a Colorado-based artist, who spent a year creating over a dozen masks for Beeple, charging between $7,000 to $20,000 for each one.
- Meier's labor-intensive process involves researching reference photos, creating designs using the graphic program "ZBrush," and then 3D printing a mold, among other steps.
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15 Likes
Minis
2y
1k
Image Credit: Minis
Man mistakenly destroys NFT worth ₹1 crore, loses 'a third of his net worth'
- An NFT collector, Brandon Riley, accidentally destroyed a CryptoPunk NFT that he purchased for 77 Ether, worth over ₹1 crore.
- Riley mistakenly sent his NFT to a burn address while attempting to wrap it for listing on a marketplace.
- As a result, he lost a third of his net worth in a single transaction and expressed regret over the costly mistake.
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11 Likes
Minis
2y
602
Image Credit: Minis
WazirX shuts NFT marketplace; here's why
- WazirX, a cryptocurrency exchange, has closed its NFT marketplace, WazirX NFT, which was launched in June 2021. The company announced the closure, citing a lack of traction.
- The closure of the WazirX NFT marketplace means that users looking to trade NFTs will have to use other platforms. WazirX is directing users to use the NFT platform OpenSea instead.
- The closure of the WazirX NFT marketplace highlights the uncertainty surrounding NFT marketplaces.
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8 Likes
Minis
2y
961
Image Credit: Minis
Mastercard's NFT chief Satvik Sethi resigns, citing abuse & emotional suffering
- Satvik Sethi, Mastercard's product lead for NFTs, has resigned from the company due to harassment and emotional distress.
- In his tweets, he highlighted the company's inefficiencies, including issues with poorly managed processes and miscommunications.
- He also claimed that there were instances when he did not receive pay for several months unless he petitioned across the hierarchy.
- Sethi served a three-month notice before leaving the company, which he claims was an attempt to prevent him from quitting after informing HR about his problems.
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