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NFT – Non-Fungible Token

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March 2023

How NFTs can protect creators and fortify their legal rights

The digital era has made piracy rampant and copyright enforcement difficult, but blockchain technology is shifting power back to creators, writes Wes Levitt of Theta Labs.

Japan’s Web3 Era

Japan’s been a little behind in the Web3 space, but their new Metaverse Economic Zone could be a game changer.

A crisis of value?

Why the banking collapse could save NFTs.

The NFT sector is just getting started. Here’s what lies ahead

What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.

Solana NFT sales surge as traders farm for Tensor rewards

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.

Bet on the Black? Take a punt on the Red? Or maybe put it all down on an NFT?

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

Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder

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.

Ethereum validators win ‘short term’ as Blur, OpenSea rivalry drives up gas fees

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 Future of NFTs

As multi-chain NFTs take off, Forkast Labs launches a vital new way to measure value on the blockchain.

The digital economy needs a better BS detector — so we are building it through data transparency

Blockchain data is public for all to see. The irony is that few know what to look for, and why. A new set of indexes by Forkast Labs filters out the noise and offers data intelligence and clarity.

What Web3 must do if it wants to attract 1 billion users

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.

Weekly NFT sales drop, unique buyers surge amid Coinbase’s new NFT airdrop

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.

Bitcoin Punks exceed 1,145 ETH in daily trading volume as Bitcoin Ordinals gain traction

Less than two months since the launch of the Ordinals protocol, Bitcoin Ordinals are gaining traction. Yuga Labs announced its first Bitcoin-native NFT collection, on the same day Bitcoin Punks saw over 1,145 ETH in trading volume. Industry commentators told Forkast what this could be for the Bitcoin network.

Blur NFT wash trading soars, fueling market distortions

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

FastForkast headlines

Magic Eden introduces Bitcoin Ordinals for NFT traders

Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes

K-pop star G-Dragon launches NFT on OpenSea with Fandom Studio, BNB Chain

Enterprise software giant Salesforce partners with Polygon for NFT-based loyalty programs

Anchorage Digital lays off 20% of staff amid low NFT demand, says bank unit not affected

China regulator says NFT-related complaints skyrocketed in 2022

Meta plans to wind down NFT initiatives on Facebook, Instagram to focus on other services

China’s parliament member to propose NFT regulation at ‘Two Sessions’

Forkast 500 NFT index slips, BAYC NFTs leads in sales volume

Forkast 500 NFT index edges up, Animoca Brands’ NFT collection leads in sales

Bitcoin, Ether little-changed in downtrend day; Forkast NFT 500 index dips

Momoguro NFTs sell out in 9 hours, generates US$7.6 mln of sales

March 2023

NFT Fake Sales

The NFT market took a hit during the crypto winter, and as signs of healing start to show, there are concerns that some of the transactions are fake.

Why the Hermès verdict was a big win for major brands and phygital commerce

The Metabirkins case makes clear that NFT trademarks belong to the original creator, bolstering future profit-making opportunities for fashion houses as well as other companies, writes Justin Banon of Boson Protocol.

Crypto is experiencing growing pains. What’s coming next?

Now a teenager, crypto is wrestling with its identity and purpose. But it’s learning from its mistakes and on its way to maturity, writes Zach Bronstein of Endaoment.

At least US$577 million of Blur-linked NFT sales are wash trades, CryptoSlam says

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

Weekly Market Wrap: Bitcoin lingers at US$24,000 level after Wall Street’s worst day in 2023 so far

Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.

Weekly NFT sales surge amid marketplace Blur’s new round of token airdrop

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

Blur lives up to name as its trading volume surpasses OpenSea

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

Weekly NFT sales spike after Blur’s Valentines airdrop

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.

Why gaming’s next frontier is owning your in-game assets

Many gamers still oppose NFTs and blockchain gaming, overlooking the myriad benefits of the latest technology, writes Ramona Ciocea of Protokol.

Binance makes Korea comeback with GOPAX acquisition

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

NFT’s Bitcoin Future

Could there be a shift in Ethereum’s monopoly of the NFT world as new technologies arise?

Bitcoin mining fund soars as BTC powers into 2023

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

New Bitcoin protocol may shake up the NFT market

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.

FastForkast headlines

Momoguro NFTs sell out in 9 hours, generates US$7.6 mln of sales

Japanese tech, finance firms sign pact to build metaverse economic zone

South Korea’s Lotte Group partners with Polygon for global NFT drive

Bankrupt crypto lender 3AC’s liquidators set to dump millions worth of seized NFTs

Creepz NFT sales surge 239% following Spotify partnership news

NBA partners Chinese fintech giant Ant Group to launch NFTs in China

Judge denies Dapper Labs request to dismiss NBA Top Shot security lawsuit

Bitcoin exceeds 154,000 inscriptions in a month as Litecoin Ordinals launches

Chinese NFT marketplace Jingtan eases asset transfer restrictions

Jury sides with fashion giant Hermès in MetaBirkins NFT case

Beijing football club launches NFTs ahead of its virtual stadium launch

Beijing regulator warns about NFT speculation, illegal fundraising. Crackdown coming?

Yuga Labs says it won first Bored Ape trademark lawsuit against RR/BAYC project

NFTs inspired by K-drama Crash Landing on You coming from Crypto.com, Studio Dragon

Chinese liquor giant Moutai unveils NFTs linked to liquor bottles

Prime Minister Fumio Kishida says NFTs and DAOs can bolster ‘Cool Japan’ strategy

Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

February 2023

China NFT platforms expand into Hong Kong in face of compliance risks on mainland

Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.

What does the future hold for digital assets in 2023?

NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.

Stopping Scalpers

Taylor Swift’s Eras Tour was met with a series of ticketing nightmares as scalpers tried to resell tickets for as high as US$22,000. But could NFTs have solved that problem?

NFT December sales surge to highest since June amid ‘tax-loss harvesting’

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.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

FastForkast headlines

Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

China’s Hainan province to step up NFT supervision

Slumdog Millionaire composer A. R. Rahman tunes into metaverse

Magic Eden NFTs display explicit content, ‘Big Bang Theory’ images

January 2023

A year to remember, a year to forget: Crypto highs and lows of 2022

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Biggest blockchain trends for 2023 and beyond

After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.

Blockchain gets religion? Taiwan temple mints NFTs of local sea goddess

A centuries old Taiwan temple dedicated to a popular goddess has latched onto non-fungible tokens or NFTs as a means for worshippers to get access to pilgrimages and other events.

To unwrap Web3’s promises, we must break the barriers to blockchain adoption

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

NFTs may become the “Lego blocks” of Web3 in 2023, Gary Liu says

Gary Liu of Artifact Labs believes that NFTs will gain more utility and become the building blocks of Web3

FastForkast headlines

Magic Eden NFTs display explicit content, ‘Big Bang Theory’ images

Top Solana NFT projects find new homes on Ethereum, Polygon