Forkast.News is now Forkast Labs

Singapore court issues ‘huge’ NFT decision, allows papers to be served via blockchain

The lead counsel for the plaintiff in the case has called Friday’s ruling a decision with implications for the global blockchain industry

Annie Yi’s NFTs

How are people using NFTs and blockchain technology to promote social causes?

Reddit NFT trading volume hits all-time daily high as avatars sell out

Reddit non-fungible token (NFT) avatar trade volumes hit an all-time high, with sales exceeding US$2.5 million in the past 24 hours.

Taiwan singer Annie Yi taps LGBT NFTs with artist son to advocate inclusion

The singer-actress and son Harrison Yu said they launched the Theirsverse NFT brand in New York to engage marginalized groups in the early building of Web 3.0.

Apple will not allow NFTs to unlock in-app features

Apple is allowing NFTs in applications, but will not allow them to be used to unlock in-app content or features.

The Lord of the Rings NFT comes with a Web3 AR movie journey in 4K

Warner Bros. Entertainment Inc. will launch Lord of The Rings non-fungible tokens (NFTs) on Eluvio, as part of the entertainment giant’s Web 3.0 movie experience coined “Movieverse.”

NFT marketplaces ditching standard royalty fees labeled “short-sighted”

After Solana’s Magic Eden marketplace said it was bowing to pressure and making payment of royalties “optional” to NFT creators, industry insiders tell Forkast the policy is wrongheaded and damaging.

Sachin Tendulkar joins NFT market Rario’s cricket legends roster

Sachin Tendulkar, Indian cricket legend and former captain of the national cricket team, has partnered with cricket non-fungible token (NFT) platform Rario to launch exclusive digital collectibles. See related article: 55,000 Meta Cricket League NFTs sell out in nine minutes Fast facts Rario has existing partnerships with cricket icons, like Zaheer Khan, Kevin Pietersen, Jonty […]

New IRS tax language tweaked to include NFTs

The IRS updated its annual income tax instructions in a Monday draft that does away with the taxable category “virtual currency” and replaces it with the term “digital assets,” which explicitly includes NFTs.

The scourge of NFT wash trading — and how not to get suckered in

What are the different kinds of NFT wash trading, and what are the red flags that a prospective investor should look for? Anndy Lian explains.

Magic Eden, largest Solana-based NFT platform, makes royalty fees optional

The platform said the move was in line with growing market trends, but some are concerned about what it means for the industry.

Are NFTs securities? Bored Ape creator Yuga Labs faces SEC probe

The U.S. Securities and Exchange Commission (SEC) is reportedly probing Yuga Labs, Inc., the company behind the top-selling non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), for its issuance of the digital assets, according to a Bloomberg report.  See related article: SEC fines Kim Kardashian US$1.26 mln for promoting EthereumMax Fast facts The report […]

Apparel, luxury goods industry has most brands launching NFTs

The apparel and luxury goods industry is leading in tradable non-fungible token (NFT) adoption, with major brands launching their own NFT collections, according to a new research study by CoinGecko. See related article: Apes still rule among the bears: NFT market falls for fifth straight month Fast facts The independent cryptocurrency aggregator found the apparel […]

NFTs from art and the burning question of their physical origins

Original artworks are being set on fire and destroyed to be digitally reborn on the blockchain as non-fungible tokens. But, how far is too far in this recent incendiary trend?

Is that bottle of ‘Grand Cru’ for real? An NFT can nose out the truth

The tradition-bound wine world is not always open to change, writes Sebastian Schier of vinID. But new technology can solve the age-old problem of wine fraud.

Asus launches NFT platform to plug into Web 3.0

Taiwanese laptop maker Asus has launched a non-fungible token (NFT) platform, marking its first attempt to venture into the burgeoning Web 3.0 industry, the company announced on Tuesday.  See related article: Apple iPhone maker’s founder distances himself from crypto fraudsters using his image Fast facts Asus launched Art Black hole on Tuesday, a platform for […]

Japan’s PM announces NFT and metaverse expansion

Japan’s Prime Minister Fumio Kishida announced plans to expand investments in non-fungible tokens (NFTs) and the metaverse in a policy speech on Monday. See related article: Japan plans new crypto transfer rules to combat money laundering Fast facts Kishida says the country will further its investment in digital transformation and expand the use of Web3 […]

Solana NFT sales up 77% in September despite sluggish quarter

Non-fungible token (NFT) sales on Solana surged in September despite a sharp decline in the overall trading volume of NFTs in the third quarter.  See related article: Instagram, Facebook users in 100 countries can crosspost NFTs: Meta Fast facts Solana NFT sellers pocketed more than US$126 million in September, a 77% month-over-month increase, according to […]

Apes still rule among the bears: NFT market falls for fifth straight month

‘Crypto Winter’ has touched all elements of the crypto market, and non-fungible tokens are no different.

Warner Music taps OpenSea NFT marketplace to guide artists to Web3

Warner Music Group (WMG) has partnered with non-fungible token (NFT) marketplace OpenSea, to allow some of the entertainment conglomerate’s artists to build their fan base in Web 3.0. See related article: Warner Bros., Nifty’s release ‘Space Jam’ movie NFTs Fast facts WMG artists will get early access to OpenSea’s new “drop” product, an initiative that […]

Instagram, Facebook users in 100 countries can crosspost NFTs: Meta

Instagram and Facebook users in 100 countries can start sharing and crossposting their non-fungible tokens (NFTs) between the two platforms, Meta announced on Thursday.  See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts Meta, the operator of the two social media platforms, said the feature is available to […]

Christie’s launches curated art Ethereum NFT marketplace

Christie’s, the 256-year-old fine art auction house, is debuting Christie’s 3.0, an Ethereum-based NFT marketplace with the launch of an exclusive collection from leading Web 3.0 visual artist Diana Sinclair.  See related article: Naver and LINE launch NFT platform for K-pop fans Fast facts The New York-based auction house has made waves in the space, […]

Dunamu looks to K-pop group BTS NFTs to beat ‘Crypto Winter’

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, will focus its future endeavors on Levvels, its Los Angeles-based non-fungible token (NFT) joint venture with Hybe Co., Ltd., the entertainment agency behind K-pop group BTS. See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year Fast facts […]

Naver and LINE launch NFT platform for K-pop fans

South Korea-based internet giant Naver Corp. launched its non-fungible token (NFT) platform, NOW.Drops, with LINE NEXT on Wednesday. The platform will let K-pop music fans create customized NFTs. See related article: Naver’s Zepeto metaverse starts blockchain initiative with Solana Fast facts NOW.Drops allows users to mint NFTs of their favorite musical acts that they crop […]

Owning a piece of history: How NFTs can help maintain our collective memory

Non-fungible tokens aren’t merely novelty items — they can play a valuable a role in preserving history and culture, says Artifact Labs chief Gary Liu

Ethereum’s last PoW and first PoS NFTs minted for 67.5 ETH

The last block on the proof-of-work (PoW) Ethereum chain before The Merge was filled by a VanityBlocks non-fungible token (NFT) minted for 31.5 ETH, which was succeeded by the first NFT in the post-Merge proof-of-stake (PoS) chain minted for 36 ETH.  See related article: Fungible after all? Duplicates may disrupt NFT industry after Ethereum Merge […]

South Korea’s Seongnam city to provide citizenship rights through NFTs

Seongnam, the 12th most populated city in South Korea, is planning to recreate the city in the metaverse and will issue non-fungible token (NFT) citizenships to give access to municipal information, according to local media reports. See related article: South Korea’s capital city launches first stage of “Metaverse Seoul” Fast facts The city will finalize […]

NFT double disruption?; Web3 women celebrated

The NEAR foundation, in partnership with Forkast, has announced the Women in Web3 winners.

Fungible after all? Duplicates may disrupt NFT industry after Ethereum Merge

The Merge is the most anticipated event in the crypto industry in years, but could the multibillion dollar non-fungible token industry become an unexpected casualty?
and

Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains

The largest coffeehouse chain in the world recently announced a new non-fungible token platform, while other coffee chains have eyed the technology long before.
and

Queen Elizabeth artwork NFTs flood into OpenSea marketplace

Demand for non-fungible tokens connected to the late monarch surge along with prices.

Ethereum Merge’s impact on NFTs

Welcome to The Daily Forkast – September 2, 2022, presented by Joel Flynn. Coming up on today’s show: Could Ethereum’s Merge cause chaos for the NFT market? Number of unique NFT buyers falls below 500,000. We’ll take a deep dive into that in this episode of The Daily Forkast September 2.

Do I really need another picture of an ape? NFT market slumps in August

The NFT hype from earlier in the year is dying off as the market continues its downward path into the final third of the year. Fire sale coming for apes and cats?

Animoca Brand’s Japan subsidiary raises US$45 Mln to invest in NFT

Animoca Brands KK, the Japanese unit of Hong Kong blockchain investment firm Animoca Brands, Friday said it raised US$45 million from the world’s second-largest financial group Mitsubishi UFJ Financial Group (MUFG), and parent Animoca Brands. See related article: Japan’s Mitsubishi UFJ to issue yen-pegged stablecoin: report Fast facts MUFG and Animoca Brands each invested US$22.5 […]

Huobi-incubated Chinese NFT platform iBox ends international operations

Its operations in mainland China are continuing as normal.

Each NFT scam perpetrator gained average of $300,000 in past year: Elliptic report

More than US$100 million worth of NFTs were scammed between July 2021 and July 2022, with each scam perpetrator making an average of US$300,000, according to a report released on Wednesday by crypto analysis firm Elliptic. See related article: Who fared worse in cryptocurrency slump: criminals or legitimate users? Fast facts See related article: Ronin […]

Shanghai Data Exchange launches untradeable NFTs

The Shanghai Data Exchange has debuted blockchain-based digital assets without allowing secondary trading, a day after the exchange began digital asset trading on Wednesday.  See related article: Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’ Fast facts See related article: Beijing, Hengqin ramp up metaverse amid struggling economy

Nike becomes highest-earning brand for NFT sales

Footwear giant Nike’s non-fungible token (NFT) projects have brought the company’s revenue to US$185.34 million, more than seven times that of luxury fashion brand Dolce & Gabbana, which ranks second in NFT profits, according to the data published on crypto analysis platform Dune. See related article: Touchdown: How ex-NFL players are helping college athletes score […]

NFT platform SudoRare vanishes with 519 Ethereum

Non-fungible token (NFT) platform SudoRare has allegedly run off with US$815,000 in user funds and deleted its social media accounts, raising alarms over investor protection.  See related article: Klaytn chief says reducing ‘human elements’ can prevent hacks Fast facts According to PeckShield Inc., a blockchain security and data analytics company, SudoRare took off with 519 […]

Run-to-earn protocol Stepn announces NFT project colab with Atlético de Madrid

Web3 lifestyle app Stepn is releasing a non-fungible token (NFT) running shoe collection in partnership with crypto exchange WhaleFin and Spanish soccer club Atlético de Madrid, the company announced on Thursday. See related article: Play-to-earn game developers pivot to engaging fans Fast facts This collection will feature 1,001 Atlético de Madrid shoes that grant the […]

Beyond Ethereum – NFT Legacy for Blockchain | NFT Moments in History Ep. 12

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. When it comes to technology, few things in history could claim to be as significant as the automobile. It redefined the idea of movement and opened […]

BAYC NFT sells for 777 Eth, worth US$1.4 million, amid crypto downturn

Non-fungible token (NFT) Bored Ape Yacht Club (BAYC) #5383 sold for 777 Eth on Wednesday, worth some US$1.4 million, amid a crypto downturn. See related article: Bored Apes — NFTs take over the planet | NFT Moments in History Ep. 11 Fast facts Following the sale, the floor price for BAYC on Thursday sank its […]

Tencent’s Huanhe allows NFT refunds, halts further sales

Tencent’s non-fungible token (NFT) marketplace Huanhe says it will allow buyers to refund purchased NFTs but will no longer issue the digital assets, citing a “focus on the company’s core strategic considerations.” See related article: Chinese e-commerce giant JD.com offers NFTs despite state media criticisms Fast facts The marketplace’s app will remain, but it will […]

Bored Apes — NFTs take over the planet | NFT Moments in History Ep. 11

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. Bored Ape Yacht Club, and the NFTs they refer to, Bored Apes, may well be the most popular token ever, so much so that they might […]

Netflix K-drama hit Extraordinary Attorney Woo to launch NFT project with Polygon

The production company behind Extraordinary Attorney Woo, an ongoing South Korean drama series and one of the most-watched non-English shows on Netflix, has teamed up with Polygon to build a non-fungible token (NFT) community to advocate for awareness of autism spectrum disorder (ASD). See related article: Netflix Sweet Home producer to build K-drama metaverse in […]

NFT gaming to drive wider blockchain adoption, Immutable cofounder says

Blockchain gaming will likely remain a key driving force for wider Web 3.0 adoption, and the gaming sector will be “quite hit-driven” over the next 12 months, Robbie Ferguson, cofounder of Immutable — which builds Immutable X, a layer-2 scaling solution on Ethereum — told Forkast on Tuesday at Korea Blockchain Week 2022. See related […]
and

Amid possible shutdown, Tencent’s NFT marketplace slows new releases

Tencent’s non-fungible token (NFT) marketplace Huanhe has not issued a new NFT for sale in a month, the first time that no new NFTs have been issued for an entire month since last October.  See related article: Tencent to cut domestic NFT marketplace team, look overseas: report Fast facts At the end of July, local […]

Affairs of the art: Why NFT creators have fallen for Tezos

Tezos has become a leading art blockchain, even in China, where NFTs are barely tolerated. Its regional chief, Katherine Ng, explains its success

Instagram expands NFT platform to 100 countries

Instagram’s platform for non-fungible tokens (NFT), which the firm is calling “digital collectibles,” is now available in 100 countries, the Facebook parent Meta-backed social media giant said. See related article: Meta’s attempts at building a metaverse will ‘misfire’: Vitalik Buterin Fast facts With support for Coinbase and Dapper wallets added, Instagram now supports wallets from […]

What NFT.NYC missed that Coachella got right

2022’s marquee NFT event in America’s biggest city failed to capitalize on its namesake technology, while an iconic music festival in the California desert understood the possibilities, writes Mirwan Suwarso of Mola TV.

Bitcoin, Ether trend lower, BNB adds to gains, Flow jumps on Meta NFT Integration

It was a mixed bag for the top 10 cryptocurrencies Friday morning in Asia, with most moving less than 1%. Bitcoin dipped, while BNB continued its breakout run for a second day. Bitcoin was trading at US$22,612 as of 8 a.m. in Hong Kong, down 1% in the last 24 hours. Ethereum slipped 0.7% to […]

NFT Music – Changing the tune for an industry | NFT Moments in History Ep. 10

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. The business of music is a painfully difficult thing to pursue, especially for those trying to parlay passion into profit.  But blockchain technology might just be […]

Crypto.com, K-pop agency Fantagio enter joint NFT venture

South Korean entertainment agency Fantagio announced Wednesday a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects, according to local reports. See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year Fast facts KOSDAQ-listed Fantagio manages K-pop idol groups such as ASTRO and Weki […]

Flippening ahead?; NFT sales fall again

Is the flippening coming soon? And NFT sales drop 25% in July as the crypto winter continues.

NFT sales limp into August with a 25% drop from June to July amid crypto slump

Market analysts are mixed on outlook for non-fungible tokens, as some see mostly gloom, others point to glimmers of optimism.

MetaKongz NFT prices drop on OpenSea over internal conflicts

South Korea’s non-fungible token (NFT) collection MetaKongz’ price on OpenSea NFT exchange has fallen over 17% on average after alleged in-house problems such as hacking and differences among its executives. See related article: Hyundai Card building its first NFT marketplace and wallet service Fast facts The price of MetaKongz NFTs on OpenSea in the last […]

KuCoin ETFs to allow NFT purchase with USDT instead of ETH  

The new product will help over 20 million KuCoin users to access blue chip non-fungible tokens (NFTs) through direct purchases with USDT, instead of ETH, the cryptocurrency exchange said.  See related article: KuCoin dismisses rumors, eyes India for growth: report Fast facts KuCoin is partnering with Fracton Protocol and will initially list five NFT exchange-traded […]

NBA Top Shot: Dapper Labs’ slam dunk NFT | NFT Moments in History Ep. 9

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. We’ve talked about NFTs being turned into sports memorabilia, but what comes after? Well, in this episode, we are quite literally talking about epic sports moments. […]

Dubai police launch 2nd edition of NFTs, see use case for digital assets

Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]

3,000 Biggie Smalls-inspired NFTs sell out in 10 minutes

The 3,000 generative non-fungible token (NFT) collection featuring late rapper Christopher Wallace, better known as Notorious B.I.G. or Biggie Smalls, sold out in about 10 minutes at marketplace OneOf.  See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts Sky’s the Limit is an NFT profile picture collection that […]

Japanese bank SMBC plans to develop NFT business

Sumitomo Mitsui Financial Group (SMBC Group), which runs one of Japan’s largest banks, said Friday it will work together with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 projects. See related article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years Fast facts SMBC and HashPort plan to set up […]

Dunamu’s NFT venture with BTS’s HYBE to launch services later this year

Dunamu, the operator of South Korea’s Upbit crypto exchange, told local media that Levvels, its Los Angeles-based joint venture established in May this year with HYBE Co., will start services in the latter half of this year. See related article: NFT credit card in the works for top S. Korean crypto exchange Fast facts Dunamu […]

Tencent to cut domestic NFT marketplace team, look overseas: report

Tencent will lay off an undisclosed number of staff on its mainland China non-fungible token (NFT) marketplace team and adjust the platform’s business strategy, as it prepares another NFT marketplace serving overseas users, sources close to Tencent said, Chinese financial media Caixin reported on Thursday. See related article: Tencent to shut Huanhe NFT marketplace: report […]

Kakao’s Ground X forms business alliance to expand NFT use cases, services

South Korean internet giant Kakao’s blockchain subsidiary Ground X has formed GRID, an alliance of some 50 local companies to popularize and expand use cases in the non-fungible token (NFT) ecosystem, the company announced Thursday. See related article: Kakao’s Klaytn partners with OpenSea for NFT expansion in Asia Fast facts Ground X will support companies […]

Minecraft developers not looking to integrate NFTs

Developers behind Minecraft, one of the biggest video games in the world, said they are not looking to support integration with non-fungible tokens (NFTs) or blockchain technology, arguing they “encourage profiteering.” See related article: Polium’s NFT/Web3 game console plan meets with plenty of skepticism Fast facts In a recent blog post, developer Mojang Studios said […]

Art Blocks – Snowfro’s generative genius | NFT Moments in History Ep. 8

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. For most artists, profiting from their passion has been a challenge. And then came NFTs. We talked about the importance of the “CryptoArt” movement in Moments […]

Tencent to shut Huanhe NFT marketplace: report

Tencent this week will shut down Huanhe, the Chinese tech giant’s non-fungible token (NFT) marketplace that has been operating for less than a year, according to unnamed Tencent sources cited in a report by Shanghai-based technology news outlet Jiemian on Wednesday. See related article: WeChat bans NFT accounts, citing ‘crypto speculation’ Fast facts Tencent has […]

Shanghai turns to metaverse, NFTs to counter lockdown economic fallout

China’s second-most populous city will introduce a three-year plan to promote the metaverse in the tourism industry, and encourage non-fungible tokens (NFTs) in the art and culture industry, as part of a recovery plan for the city’s economy. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related article: NFTs, […]

Tencent shuts down one of its NFT marketplaces

Launched in January, Tencent News’ NFT marketplace was shut down, citing the need to “adjust” and “transform” the business. See related article:  China’s diktat against NFT flipping spawns an ingenious industry Fast facts Wang Shimu, former head of Tencent News, left the news division in May and was reassigned to Tencent’s NFT arm Huanhe due […]

Hyundai Motor runs NFT memberships for new IONIQ 6 EV

Hyundai Motor unveiled a non-fungible token (NFT) membership program for its new electric vehicle (EV) IONIQ 6, which unlocks exclusive access to Web3 content to holders, according to a press release. See related article: Hyundai Motor drives into metaverse branding with Meta Kongz NFT project Fast facts The IONIQ Citizenship includes access to VIP rights […]

Touchdown: How ex-NFL players are helping college athletes score with NFTs

As the NFT market slumps, some savvy former American footballers and their business partners have been spurred to push the technology’s potential.

Bored Apes, Sneaky Vampire NFT Champagne sold for US$2.5 mln

A Champagne bearing five non-fungible tokens (NFTs) on the surface of its bottle, including the likes of well-known collections Bored Ape Yacht Club (BAYC) spinoff Mutant Ape Yacht Club (MAYC) and a Sneaky Vampire, sold for US$2.5 million in a private sale last Friday. See related article: Scottish whisky brand The Dalmore to offer limited-edition […]