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NFT – Non-Fungible Token

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April 2022

Does the NFT correction foreshadow a nascent comeback?

The market for non-fungible tokens soared, then slumped. That doesn’t worry Spores Network’s Duc Luu, who’s betting on brands to fuel its future growth.

Goldman forecasts inflation peak, as NFTs charm its clients

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.

Opensea’s Solana beta begins; Binance bails out Sky Mavis

Chinese state media calls for stronger regulations of NFTs. Meanwhile, Sky Mavis raises $150M to offset Ronin hack.

Solana NFT sales drop by 21% after OpenSea integration

Non-fungible tokens (NFTs) on the Solana blockchain have been officially docked on OpenSea but sales have dropped by over 21% in the past 24 hours.  See related article: OpenSea’s Solana NFT integration, long rumored, is now real Fast facts While Ethereum continues to host the largest number of NFTs, Solana proponents argue that it is […]

China’s Communist Party wants to regulate NFTs

The Economic Daily, a mouthpiece of the Chinese Communist Party, called for stricter regulation of “digital collectibles” as investors continue to speculate in non-fungible tokens (NFTs). See related article: Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’ Fast facts See related article: WeChat bans NFT accounts, citing ‘crypto speculation’

Sky Mavis raises $150 mln to offset Ronin hack, Axie NFT sales surge more than 350%

News of Sky Mavis raising US$150 million to compensate users following the around US$600 million hack on its Ronin Bridge led to a surge in Axie non-fungible tokens (NFT) sales. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Binance leads the round along with Hong Kong-based Animoca Brands, a16z, Dialectic, […]

Why gamers dislike NFTs — and what might turn them around

Would gamers and developers still feel disdain for NFTs if companies used blockchain technology differently? Will Deane explores the possibilities.

Former Hong Kong finance Tsar to launch NFTs

John Tsang Chun-wah, the city’s longest-serving Financial Secretary, will launch 3,000 non-fungible tokens (NFT) of his portrait, becoming Hong Kong’s first civil servant to profit from the trend. See related article: Hong Kong Exchange to trial digital assets trading in ‘Diamond’ pilot Fast facts Tsang is the longest-serving Financial Secretary since the handover. He lost […]

China’s Shandong TV to build NFT marketplace

The television station in China’s Shandong province plans to build a “digital collectibles” trading platform and issue its own non-fungible tokens (NFTs), becoming the latest state-run media outlet to join the trend. See related article: WeChat bans NFT accounts, citing ‘crypto speculation’ Fast facts Shandong Television has started developing its own blockchain to run its […]

Lamborghini’s last all-gas Aventador to be auctioned with NFT

The Italian luxury car maker will auction the world’s first supercar 1:1 NFT before the Aventador becomes a V12-powered plug-in hybrid.  See related article: Sotheby’s will accept Bitcoin and Ether for 101-carat diamond auction Fast facts With the Aventador approaching the end of production, Lamborghini is collaborating with Krista Kim and Steve Aoki for the […]

New owner gives Pudgy Penguins NFTs happy feet

Prices of Pudgy Penguins non-fungible tokens (NFTs) collection recovered as the community got a new leader. They now trade at 2.85 ETH on marketplace OpenSea, and 2.98 ETH on LooksRare after hovering around 1 ETH for most of March. See related article: Why Asia is poised to be the next big market for an NFT […]

China’s e-CNY push; India’s crypto tax kicks in

India’s long-awaited crypto tax comes into effect. Meanwhile, China expands the digital yuan program.

NFT buyers dip for a second straight month

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.

March 2022

China’s WeChat bans NFT accounts; Zilliqa token soars

NFTs accounts banned from WeChat due to “crypto speculation”. Meanwhile, Zilliqa on the rise after Metapolis announcement.

How women artists are bridging the NFT gender gap

Despite the promises of decentralized technology, women remain vastly underrepresented in the NFT art world. Forkast talks to artists working to change that.

WeChat bans NFT accounts, citing ‘crypto speculation’

WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal […]

Metapolis’ Zilliqa surges 80% over 24 hours, outpacing Solana’s OpenSea integration

Zilliqa is leading Thursday’s crypto market with an 80% charge over the last 24 hours, part of a 270% weekly pump since its metaverse-as-a-service platform Metapolis launch event was announced.

OpenSea’s Solana NFT integration, long rumored, is now real

Leading non-fungible token (NFT) marketplace OpenSea has released a teaser of its long-rumored integration of NFTs on the Solana blockchain, now planned for April. See related article: What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise? Fast facts OpenSea’s teaser video shared on Twitter on Tuesday morning Asia time displayed a […]

Xiamen reveals plan to bolster its metaverse, NFT-related firms

Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]

Ukraine’s NFT museum; Bitcoin on the up.

Ukraine launches its NFT Museum of War. Meanwhile, Bitcoin passes $47,000 mark.

World of Women Galaxy NFTs sell out in 3 days

World of Women (WoW) Galaxy, the second non-fungible token collection launched by WoW, a community focused on increasing diversity and inclusion, was sold out within three days after launching with US$14 million in primary sales.   See related article: Ukraine’s NFT museum of Russian conflict goes live Fast facts Total WoW Galaxy sales in the past […]

Ukraine’s NFT museum of Russian conflict goes live

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Russia’s bitcoin for oil proposal; Crypto market makes gains

Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.

Azuki spikes past Bored Apes in daily sales

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]

DeFi, NFT access at stake as FATF travel rule takes effect in South Korea

Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.

What Else Can You Do With An NFT?

NFTs are mostly recognized as digital art and collectibles. But what else can they be used for?

How to protect NFT intellectual property rights explored at Australian Blockchain Week

With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say.

Bollywood megastar Amitabh Bachchan ponies up tax on NFT sale

Bollywood icon Amitabh Bachchan is in the crosshairs of Indian tax authorities again, this time for NFT sales.

Bored Apes as NFTs: What is the Bored Ape Yacht Club?

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

What does Music have to do with NFTs?

Major record labels have generated massive profits from previous structures of creative industries, but NFTs can transfer power to the artists.

Fusang defers IPO; Yuga Labs hits $4bn valuation

Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.

Echoes of El Salvador as Malaysian minister calls for crypto adoption

Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.

Apes Gone Wild! BAYC ‘selling like crazy’ amid otherwise sluggish NFT market

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

BAYC creator Yuga Labs raises valuation to $4B

Bored Ape Yacht Club creator Yuga Labs announced on Wednesday Asia time that it has raised US$450 million in a funding round, bringing the Web 3.0 company to a total valuation of US$4 billion.  See related article: The future is decentralized: How Web3 can reshape the world Fast facts The funding round was led by […]

BSN, China Mobile support local NFTs with new chain launch

China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs). See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The new chain serves […]

How an 11-year-old programmer created his own NFT minter

Inspired by the success of Beeple, Miguel Wang created CryptoTigers to generate pixelated tiger images for the Year of the Tiger.

India’s crypto GST plan; Australia’s crypto reforms

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.

Bored Apes creator to launch new metaverse ‘Otherside’ 

Yuga Labs, creators of the Bored Apes Yacht Club (BAYC) non-fungible token (NFT) collection, teased the launch of its metaverse called Otherside, coming in April. See related article: BAYC’s floor price surpasses 100 ETH since ApeCoin launch Fast facts The teaser video released by Yuga Labs on Saturday featured Yuga Labs NFTs including Mutant Ape […]

Russian bank given crypto license: China to monitor outflows

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.

Weibo launches NFT marketplace, allowing users to mint posts

Weibo, a social media platform known as the Chinese equivalent of Twitter with 249 million daily active users, launched its non-fungible token (NFT) marketplace TopHolder on Thursday, allowing users to mint their original posts into NFTs and sell them. See related article: Zuckerberg confirms NFTs coming to Instagram Fast facts Users will need to pass […]

4M trees required to negate the carbon emissions of CryptoKitties NFTs: report

Around 4 million trees are required to offset the nearly 240 million kilograms of carbon dioxide produced by the CryptoKitties non-fungible token (NFT) collection, according to research by NFT Club, an NFT education company.  See related article: ​​NFTs and music: Is the fan outcry over NFTs’ environmental impact warranted? Fast facts Sorare, Axie Infinity, Art […]

BAYC’s floor price surpasses 100 ETH since ApeCoin launch

Bored Ape Yacht Club’s (BAYC) floor price surged to 106.5 ETH since the launch of ApeCoin, while its spin-off collection Mutant Ape Yacht Club’s (MAYC) floor price rose to 23.65 ETH at press time. See related article: Bored Ape Yacht Club teams up with Animoca Brands to develop play-to-earn game Fast facts The ApeCoin launch […]

China highlights crypto crimes; Kazakh miners busted

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.

Bitcoin avoids European ban as lawmakers decline to outlaw ‘proof of work’

Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.

Mutant Ape Yacht Club becomes 5th NFT collection to join the $1B club 

Mutant Ape Yacht Club (MAYC) became the fifth non-fungible token (NFT) collection to cross US$1 billion in all-time sales on Wednesday, according to data from CryptoSlam.  See related article: Mutant Ape NFTs collect $140 million on OpenSea market Fast facts Axie Infinity occupies the top spot in sales volume with over US$4 billion, followed by […]

Zuckerberg confirms NFTs coming to Instagram

Meta CEO Mark Zuckerberg confirmed non-fungible tokens (NFTs) are coming to Instagram while speaking at the SXSW festival in Texas on Tuesday. See related article: What decentralization can offer Web 3.0 and social media | Part 1 Fast facts “We’re working on bringing NFTs to Instagram in the near term,” Zuckerberg said. Zuckerberg said the […]

Vogue NFTs for humanitarian aid in Ukraine list on OpenSea

Vogue Singapore and Vogue Ukraine have listed a non-fungible token (NFT) collection “Fashion for Peace” on the OpenSea marketplace to raise funds for humanitarian relief efforts in Ukraine.  See related article: Two sides to every coin: Crypto as a weapon in the fight for Ukraine Fast facts See related article: Ukraine to launch NFT ‘museum’ […]

1 in 3 Filipino gamers would quit jobs to play NFT games: survey

One in three gamers among 1,103 respondents are willing to quit or will consider resigning from their professional positions to play non-fungible token (NFT) games full time, according to a survey conducted by NFT gaming platform Balthazar.  See related article: Top NFT game Axie Infinity generated $1.3B in revenue last year Fast facts Among the […]

Chinese video streamer MangoTV NFT sells out in seconds

MangoTV, a Chinese video streaming platform with 50.4 million subscribers, launched its non-fungible token (NFT) marketplace on Monday, as its first batch of collectibles sold out within seconds since opening.   See related article: China plans crackdown on illegal fundraising in metaverse, NFTs Fast facts MangoTV is owned by the state-backed Hunan Broadcasting System and is the […]

LG first in S.Korea cosmetics industry to digitize beauty brand with NFTs

LG Household & Health Care is minting 3,000 non-fungible tokens (NFTs) on OpenSea to promote its beauty brand Belif with plans to further expand linkage with the metaverse. See related article: TV home shopping in South Korea moves to the metaverse Fast facts LG’s Klaytn blockchain-based NFT collection consists of 12 characters from the Belif […]

How crypto is driving diversity and gender equality

While crypto used to be associated with a ‘bro’ culture, it is now maturing into a hotbed for inclusivity, writes Cynthia Wu of Matrixport.

Singapore’s crypto future; Korea “White Day” NFTs a hit

Singapore’s image as a “crypto hub” may soon change as the country doubles-down on it’s stance that crypto currency is “not suitable for the general public”. Meanwhile, Korean convenience store giants CU launch their White Day NFT competition.

Ukraine to launch NFT ‘museum’ depicting Russian invasion

The Ukrainian government will launch a non-fungible token (NFT) collection that will be “like a museum of the Russian-Ukrainian war,” the Guardian reported on Sunday, citing minister of digital transformation Alex Bornyakov.  See related article: Ukraine cancels crypto airdrop, promises NFTs Fast facts Each NFT will feature digital art depicting a news story from trusted […]

L’Dezen auctions physical and NFT earrings for owner and avatar

A pair of diamond earrings designed by luxury lifestyle brand L’Dezen and its non-fungible token (NFT) counterpart sold for 3.27 ETH (US$8,205) at an online auction on Saturday at Ethereum-based marketplace Digital Twin.  See related article: How high fashion is waking up to blockchain’s possibilities Fast facts The winning bidder will receive the physical jewelry […]

20,000 line up for S.Korean convenience store’s NFTs on White Day

South Korean convenience store CU’s non-fungible token (NFT) collectibles airdrop event for White Day, a local romantic holiday, drew in more than 20,000 applications.  Read related article: Samsung-backed university to issue NFTs to select graduates Fast facts March 14 is celebrated as White Day in Japan and Korea, where men return the favor to women […]

NFTs subject to existing tax rules in Singapore, FM says

Income from non-fungible tokens (NFTs) in Singapore will be subject to existing income tax rules, the Business Times reported, citing Singapore Finance Minister Lawrence Wong’s Friday speech in parliament.  See related article: Singapore prohibits crypto, NFT transactions in sanctions against Russia Fast facts However, individuals who receive capital gains from NFT transactions will not be […]

Tomorrowland wants to bring music to Web 3.0 with FTX Europe

Global cryptocurrency exchange FTX’s European arm announced a partnership with Tomorrowland on Thursday with goals to bring blockchain and Web 3.0 applications to the popular electronic music festival. Fast facts The partners will explore Web 3.0 applications such as non-fungible tokens (NFTs) for art, music, ticketing, as well as crypto payments and metaverse events.   The […]

Third Chinese tech giant Baidu to open NFT marketplace

Baidu is airdropping over 20,000 non-fungible tokens (NFTs) of nostalgic Chinese cartoon characters ahead of its upcoming marketplace launch by the end of March. See related article: Tencent calls dibs on metaverse virtual concerts in patent application Fast facts See related article: Alibaba NFT marketplace suspends users for massage gun rapid clicks

Alibaba NFT marketplace suspends users for massage gun rapid clicks

Alibaba’s non-fungible token (NFT) marketplace Jingtan issued one-year suspensions to more than 680 accounts for using computer programs and massage guns to make instant purchases as soon as items hit the market. See related article: Ant Group’s NFT arm punishes users for digital collectible resales Fast facts See related article: Why Asia is poised to […]

Fans celebrate NFT artist Alotta Money’s life at Cryptovoxels metaverse 

The crypto and non-fungible token (NFT) community organized a tribute for French NFT artist Alotta Money at the Cryptovoxels metaverse on March 5, two days after he lost his battle with cancer and a day after what would have been his 50th birthday.  See related article: S.Korean presidential hopefuls campaign to avatars in the metaverse […]

China plans crackdown on illegal fundraising in metaverse, NFTs

China Supreme People’s Procuratorate warned of “severe punishment” for financial crimes such as illegal fundraising and money laundering in a work report released on Tuesday.  See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts China’s highest procuratorate has taken note of rising financial crimes deemed illegal fundraising, disguised as metaverse, non-fungible […]

Why NFT scams are on the rise — and how to stop them

‘Lazy minting’ may seem affordable but heightens the risk of NFT theft, writes Anthem Blanchard of Herasoft. Is storing NFTs on-chain the solution?

NFT startup Immutable valued at $2.5 billion in Temasek-led financing

Australian non-fungible tokens (NFTs) startup Immutable has raised fresh funding in a round led by Singapore’s Temasek, bringing its valuation to US$2.5 billion, the company said in a statement on Monday.  See related article: Jump in NFT demand reflects crypto prices, right? Wrong Fast facts Immutable raised US$200 million in a Series C funding led […]

S.Korean presidential candidate issues over 22,000 NFTs

The conservative candidate for South Korea’s March 9 presidential election, Yoon Suk-yeol, issued non-fungible tokens (NFTs) featuring images and videos of himself on Monday in an attempt to sway younger voters at the final stages of his campaign.  See related article: Crypto investors are being wooed in South Korea’s tight presidential election Fast facts Yoon […]

Singapore prohibits crypto, NFT transactions in sanctions against Russia

The Monetary Authority of Singapore (MAS) has prohibited transactions involving digital assets such as cryptocurrencies and non-fungible tokens (NFTs) in its sanctions against Russian banks and entities, the central bank said in a statement.  See related article: USDT-RUB volume outpaces Bitcoin pair as Russia sanctions pile Fast facts Following Russia’s invasion of Ukraine, MAS will […]

Korean exchanges block Russians; Crypto’s role in conflict

As the war in Ukraine enters it’s second week, we take a look at how cyptocurrencies and digital assets can play a role in a conflict.

OpenSea blocks Iranian users, citing US sanctions list

OpenSea users based in Iran claim their accounts have been suspended from the U.S.-based non-fungible token (NFT) marketplace, in a growing list of users experiencing restrictions from cryptocurrency-related service providers due to sanctions against the Iranian government, CoinDesk reported.  Fast facts See related article: Binance may join sanctions imposed on Russian targets Many OpenSea users […]

The future is decentralized: How Web3 can reshape the world

As the public tires of Big Tech’s privacy abuses, Web3’s premise of decentralization has never looked better, writes Edward Chen of Huobi.

Ukraine cancels crypto airdrop, promises NFTs

Vice Prime Minister Mykhailo Federov said on Thursday that Ukraine would cancel a crypto airdrop created to reward its donors that had been announced just one day before. Fast facts “After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. […]

Nomura Holdings plans new digital assets company

Nomura Holdings will restructure its Future Innovation Company into a newly established company to leverage the rise of digital assets, effective April 1.  Fast facts See related article: IBM, Nomura to use blockchain for plastics recycling in new consortium The Japanese financial services giant revealed in a statement its plans to expand its private markets […]

NFTs enter ‘mini-bear market’ as buyers drop to three-month low

The number of unique non-fungible token (NFT) buyers in February dropped to 843,000, in what data aggregator CryptoSlam calls a “mini-bear market.” See related article: Wash trading in NFT marketplace LooksRare can inflate prices: analysts Fast facts February’s NFT market had a 7% month-over-month drop in buyers from the all-time high set in January. February […]

Ukraine DAO NFT sells for $6.5M (2,173.6 ETH)

The Ukrainian flag non-fungible token (NFT) auctioned by Ukraine DAO was sold to a pool of donors for  2,173.6 ETH (US$6.534 million) on Wednesday, as proceeds are expected to support Ukrainians affected by the invasion.  See related article: ‘We don’t have time’ for traditional fundraising, crypto is most efficient: Ukraine DAO Fast fact The NFT […]