NFTs are increasingly being seen as an asset class that is distinct from cryptocurrencies, and this is reflected in the rising valuations and trading volumes in recent months. For instance, sales of Bored Ape Yacht Club tokens doubled from December 2021 to a record US$313 million in January 2022, according to CryptoSlam data. In contrast, […]
From the lookout: Unbeknownst to those outside the NFT space, there’s a mammoth blockchain game on the horizon. Even before the launch of Star Atlas, which promises cinema-quality graphics, investors are already pouring millions of dollars to purchase in-game NFT items. The unreleased game’s leaderboard shows a player with US$4 million worth of assets. This […]
As NFTs continue to draw new users, hacks and scams have begun to surface in the nascent industry. According to blockchain analytics company Chainalysis, the two most popular NFT-related crimes are money laundering and wash trading. The amounts involved are, however, relatively small with Chainalysis estimating that such criminal activities generated illicit profits of US$10 […]
NFT avatars are digital portraits, often illustrating animated or pixelated characters. Avatars are algorithmically generated to give each NFT unique identifiable traits, such as a particular hairstyle, mustache, glasses, or even laser eyes — a social trend Bitcoiners cite to support the cryptocurrency’s climb to US$100,000. In many instances, the ownership of these avatars represent […]
Avatars accounted for most of the growth in the NFT space in 2021, but diverse use cases are starting to emerge. More niche products are also emerging, including fractionalized property ownership, and DeFi products made specifically for the NFT ecosystem are expected to grow this year. Such developments were discussed in detail during interviews with […]
What major use cases or trends will we see in the NFT space in 2022? Trend 1: Mass adoption. Currently, we estimate there are around 1 million unique wallets globally that have been used to buy, sell or hold NFTs. We believe this number will rise sharply as more companies and developers create NFTs to […]
Asia looks set to become the next big market for NFTs, with some experts predicting the region may surpass the West as early as this year. Global Google search interest for the term “NFT” surged past “crypto” in January, with the search engine’s data showing growth originating in the East. Data from Taiwan, Japan and […]
NFTs are widely expected to gain increased popularity as the metaverse becomes more established, thanks to the technology’s ability to provide indisputable proof of ownership. Ownership of virtual real estate, which involves the use of NFTs, has grown rapidly. In Decentraland, one of the most popular metaverses, property prices have risen 400-500% in the months […]
NFTs serve as the bridge for millions of users who are beginning to move to Web3.0 through digital collectibles. New use cases outlined in the report have the potential to disrupt traditional industries such as music, art, ticketing and even education. Global sales of NFTs reached US$18.5 billion in 2021, which was 570 times higher […]
In March 2021, a non-fungible token (NFT) in the form of artist Beeple’s digital collage sold for US$69 million at a Christie’s auction. It created a buzz among retail and professional investors who began to take a serious look into this new revenue stream for digital artists. Around the same time, Dapper Labs’ NBA Top […]
Strong sales from leading NFT series may be a sign the market is maturing as investors become more discerning, observers say.
Traditional banks are failing the nearly 2 billion people in the world without access to financial services, writes Khalid Howladar. But DeFi can be a lifeline.
The rapid rise of NFTs has sparked concerns about speculative bubbles as well as the negative impact on the environment. As discussed earlier, China permits trading in NFTs so long as there is a holding period after each purchase. The country’s state media have also warned against speculative behavior surrounding NFTs. In places such as […]
A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.
Inspired by the success of Beeple, Miguel Wang created CryptoTigers to generate pixelated tiger images for the Year of the Tiger.
Ethereum’s market value passing up Bitcoin’s may not be a matter of if, but when. Dr. Kosrow Dehnad and Joe Duncan offer a predictive model.
South Korea prepares for the imposition of FATF travel rule heat up. Meanwhile in Australia, reforms are set to be introduced for the crypto sector.
The $320 million Wormhole hack laid bare the vulnerability of cross-chain bridges, writes Alex Smirnov of deBridge. How can we plug the gaps?
As the conflict between Russia and Ukraine rages on and sanctions continue to mount, Russia-based bank Sberbank obtains a crypto license from the Central Bank of Russia. Meanwhile in China, social media platform Weibo allows its users to mint NFTs of their social media posts.
Cryptocurrencies have won credit for their role in Ukraine’s war, showing utility that will drive them beyond the battlefield, says Amber Group’s Michael Wu.
Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.
Ukrainian President signs a digital assets bill into law. Meanwhile in China, Cannan plans to buy back shares.
Crypto’s growing popularity is also leading to more fraud and abuses, writes Ronald Molenaar of ADVANCE.AI. What can be done to better protect users?
There is more to transitioning to renewable energy than one might expect, and in Australia, one Bitcoin mining company says the industry can play a role.
Chinese authorities cracked down on crypto related crimes on Consumer Rights Day. Meanwhile in Kazakhstan, the former President’s brother was busted for illegal crypto mining operations.
Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.
No more Burger King, Nike and Muji. This year’s annual focus on marketplace abuse names and shames crypto scams.
Amid Russia’s invasion of Ukraine, two divergent narratives about crypto are being told, writes Alex Tapscott. Which version is correct?
Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.