FK500 Index Feature

The Forkast SOL NFT Composite dropped 6.13% over the past week while sales increased. Industry expert suspects casino-like behavior of traders moving funds to new projects.

Savvy traders are quick to extract liquidity to reinvest into the “slot machines” of the NFT casino, according to CryptoSlam’s NFT strategist.

The Forkast 500 NFT Index fell to a near two-month low in Asia trading on Friday morning, with sales slumping on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens. Polygon, the third biggest, saw a sales surge.

NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.

The Forkast 500 NFT Index dipped 1.25% to 4,235.97 in the 24 hours through 10:00 a.m. in Hong Kong on Thursday.

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

Ethereum validators are benefiting from the increasingly heated competition between the two largest NFT marketplaces that is driving up gas fees, but the windfall may not last much longer.

The number of unique buyers rose to an all-time high this week after crypto exchange Coinbase dropped free NFTs to celebrate the launch of its new Layer 2 network Base.

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

Yuga Labs announced that it will launch TwelveFold later this week, its first NFT collection on the Bitcoin network.

NFT data aggregator Cryptoslam has flagged more than half a billion dollars worth of NFT wash trades related to Blur since the marketplace’s Valentines airdrops started

Teneo, the liquidator of the bankrupt crypto lender Three Arrows Capital plans to sell non-fungible tokens estimated to be worth millions of dollars.

NFT sales more than doubled this week, with NFT marketplace Blur remaining the talk of the town.

The sales volume of Creepz by Overlord surged by 239% in the 24 hours to 11:00 p.m. on Thursday in Hong Kong, after its creator announced a partnership with music streaming giant Spotify.

A US district court judge on Wednesday denied Dapper Labs’ request to dismiss a lawsuit that alleges that the NBA Top Shots NFT collection is an unregistered security. 

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

The Bitcoin Network has recorded over 154,554 inscriptions since the launch of Bitcoin Ordinals on Jan. 21, a fork that enables digital assets to be inscribed on satoshis (sats)

Blur.io, the NFT marketplace that beat OpenSea’s trading volume in the past month, airdropped its platform tokens on Valentine’s Day, contributing to the global NFT sales increase this week.

Yuga Labs, the company behind the leading non-fungible token (NFT) project, Bored Ape Yacht Club (BAYC), won a settlement on Monday in a trademark infringement lawsuit against Thomas Lehman, a collaborator in the controversial RR/BAYC project headed by artist Ryder Ripps.

The non-fungible token (NFT) project by former U.S. President Donald Trump has helped its host network, Polygon, outsell Ethereum on the leading NFT marketplace OpenSea for the second straight month, according to transaction data.

Bitcoin has long been the world’s largest cryptocurrency blockchain, but non-fungible tokens or NFTs were always the domain of Ethereum. A new protocol could change that, and some in the Bitcoin community are not too pleased.

Xiaohongshu, or “Little Red Book,” a popular social media application widely described as the Chinese equivalent of Instagram, has integrated layer-1 public blockchain Conflux Network, allowing users to showcase their non-fungible tokens on their profile pages, Conflux announced on Thursday.

A South Korean court ruled against the release of a blockchain P2E game last Friday after determining that in-game NFTs promote speculation.

Slump in prices of some non-fungible tokens and other digital assets allows U.S. holders to take advantage of a loophole to reduce capital gains taxes.

NFT investors seemingly see opportunities in a month full of surprises and headwinds for the broader cryptocurrency market.

While October saw the emergence of two very popular NFT collections, sales failed to break US$500 million in the lowest figures since July 2021.

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.

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

The Merge is a milestone in slashing electricity use on the Ethereum blockchain, but there are plenty more upgrades in the pipeline.

Not every NFT collection is facing the same issue, but due to the collection’s outsized influence it could have a significant impact on the rest of the Ethereum NFT ecosystem.

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

Top blockchain and crypto news: Three Arrows target bankruptcy protection. Polium’s Web3 game plan pilloried. China’s tech giants get hands-on with NFTs.

Crypto industry sales are slumping, but it’s not just hedge funds and lenders that have been hit hard by the crypto winter. The NFT industry has also begun to feel the chill.

A perceived failure to address increasing fraud in the NFT industry prompts calls for regulation and the adoption of a more centralized approach to weed out bad actors.

The ‘virtual land’ sale that broke Ethereum was also a fiasco for buyers. Should Yuga Labs have seen it coming and taken preventative action?

Top blockchain and crypto news: UST knocked out of Luna orbit. Making NFTs Instagrammable. China’s black market ‘digital collectibles’ trade.

Despite Beijing’s rhetoric against speculation in non-fungible tokens, some in mainland China are trading on WeChat groups, spawning an industry that caters to the fervor over the asset class.

The non-fungible token market posted a strong bounceback in April. As one industry watcher tells Forkast, the nature of the rebound points to more room for recovery.

Top blockchain and crypto news: Otherdeeds debacle stings with gas fee spike. Algorand scores World Cup deal. Will China be forced to embrace Bitcoin?

A record sellout of Okay Bears NFTs helped Solana emerge as a viable alternative to Ethereum, the preferred platform for most NFTs.

An attempt to assuage Axie Infinity players miffed by falling earnings isn’t turning out too well for developer Sky Mavis, Forkast learns, as loyalists bemoan it may be too little, too late.

NFTs are seen as investments rather than aesthetic collectibles to Goldman clients, while the investment bank struggles to distinguish blue chip projects from the pretenders.

In contrast to the rising crypto market, NFT sales have declined significantly in March, but one industry watcher says there’s no need to panic just yet.

Strong sales from leading NFT series may be a sign the market is maturing as investors become more discerning, observers say.

An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.

The biggest-selling NFT collection of all time has two competing versions, threatening to undermine the value of the tokens and faith in the industry itself.

While sales volumes on NFT marketplaces thrive, new data show much of this comes from manipulating sales — painting the whole industry in a different light.

The NFT platform crosses $1B in sales volume within a week after launch, but with a controversial incentive structure and so-called ‘vampire’ attack.

Developers adopt NFT technology to promote staple video game franchises, but reaction from a number of gamers has been negative.

The crypto market leaders are trading sideways so far in the new year. But NFT trading volume has exploded, with strong Q1 performance expected.

Other top news: TRON snags Covid aid. Free Telegram Open Network. China builds tech talent database. Bitmain’s civil war. Another win for Ripple.