Major global e-commerce platform Shopify announced a partnership with Novel, a no-code Web3 commerce platform, to make Web3 technologies accessible and approachable for all merchants. As part of the partnership, Novel launched an app on the Shopify App Store, which equips existing merchants on Shopify with tools to experience Web3 innovation in ecommerce without any technical knowledge or time and monetary commitments. The Novel Shopify app delivers two primary features, minting and distribution and utility. The minting and distribution feature allows users to generate art for a new nonfungible token (NFT) collection or upload an existing NFT collection. Novel can …

Liquidators for Three Arrows capital (3AC) have asked a U.S. court to grant them permission to subpoena the embattled crypto hedge fund's founders through “alternative means.” To this date, the whereabouts of Three Arrow Capital founders Su Zhu and Kyle Davies remains unknown, with some accusing the duo of being on the run. In a court motion filed to the United States Bankruptcy Court Southern District of New York on Oct. 14, advisory firm Teneo claimed that standard methods to contact the duo have failed as the “Founders’ whereabouts remain unknown.” It also said that the request for Advocatus Law …

Fan token company Chiliz has continued to expand its workforce despite the ongoing bear market, reflecting a growing trend in the fan token sector. The overall cryptocurrency market has seen a massive selloff in 2022, with the total market capitalization plummeting 60% since the beginning of the year. Some major crypto companies, including Coinbase and Gemini, had to cut their workforce by 10%-20% to maintain operations and continue serving their clients. While a wide number of crypto businesses have faced challenges amid the cryptocurrency winter, the fan token industry appears to have shown some resilience. Chiliz has increased the company’s …

Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August, albeit reluctantly. Under the optional royalties model, buyers are given the power to set the royalties they want to contribute to an NFT project, meaning there is a chance that some creators may not receive royalties when their artworks are sold. In an Oct. 14 post, the NFT marketplace noted that the decision came after "difficult reflection and discussions with many creators” and came as the “market has been shifting towards optional creator royalties for awhile.” …

What are the future possibilities with CC0 NFTs? The world of NFTs is in its infancy. As artists and creators explore ways to create and monetize their content, products and platforms are emerging to offer frameworks for creators to operate and build their brands, and monetize them. It is still the early days for the nonfungible token world. The last couple of years have seen an economic model emerge for artists and creators. With every new business model, there needs to be new distribution strategies that emerge. NFTs have shown how brands can be monetized. However, relying on a small …

Oscar award-winning actor Sir Anthony Hopkins has sold out his debut NFT collection “The Eternal Collection” in under 10 minutes. The collection, created in partnership with Orange Comet Inc, an NFT and Web3-focused design agency, features 1000 original cinematic art pieces inspired by different performances within the actor’s long career. According to the collection’s description on OpenSea, the body of work “conceptualizes an interpretation of the vast character archetypes Sir Anthony Hopkins has portrayed over his illustrious film career, drawing its potent energy from his stimulating body of art.” The creative visuals and animations with names like, “The Jester”, “The …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. October is historically associated with the bulls, but in 2022, the month has also become the leader in crypto hacks as barely halfway through, and the DeFi ecosystem has already seen nearly a dozen hacks resulting in losses of hundreds of millions of dollars. The largest hack occurred on Solana’s DeFi platform Mango Markets on Oct. 11, resulting in a loss of over $100 million worth of crypto. The hacker has now come out …

On Oct. 14, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with the founder of Cryptoys, Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens and Web3 as a whole. Weinraub believes that the act of play is "not restricted to children'' and believes that as adults, "we still crave the element of play throughout life." According to Weinraub, through the development of technology, "play has evolved." Nonfungible tokens, especially in gaming, have highlighted this layer of ownership through play. Technology will continue to …

Turning Cointelegraph articles into digital collectibles to preserve the crypto industry’s most memorable moments is now becoming a reality. The Cointelegraph Historical collection will allow every article ever published by the largest crypto media outlet to become mintable into nonfungible tokens (NFTs). With the help of readers, Cointelegraph seeks to create the first decentralized catalog of news that will cement the evolution of crypto onto the blockchain. The waitlist is now open, but only the first 500 readers will be able to participate in the early access that will commence at the start of November. The feature will be rolled …

As the Web3 space expands, nonfungible token (NFT) use cases continue to develop past the hyped days of stagnant digital art collections. However, even within the art realm, NFT utility is being reinvented, as is the case with a Ukrainian art museum. The Kharkiv Art Museum announced on Oct. 13 its “Art without Borders” NFT collection is now available on the Binance NFT marketplace. It includes 15 pieces of art from the museum’s collection, with proceeds going back to finance the museum and “save the cultural heritage of Ukraine,” as stated by the official announcement. The museum is one of …

Nonfungible token (NFT) marketplaces should commit to combat fraudulent NFTs, but brands are far more responsible for protecting NFT investors, according to one industry executive. Brands that issue NFTs should be taking the first step to protecting themselves and potential investors from fraud, BrandShield CEO Yoav Keren said in an interview with Cointelegraph on Oct. 12. According to Keren, it’s more straightforward for a brand to recognize NFTs that were not released by the company itself rather than marketplaces like OpenSea or Rarible. NFT marketplaces usually have fewer insights into which brands are creating NFTs when they are launching and …

Animoca Brands co-founder Yat Siu believes nonfungible token (NFT) games are only scratching the surface of what's possible and predicts completely new models of gaming will be developed as a result of digital ownership. Speaking to Cointelegraph, Siu likened the potential growth of NFT gaming to mobile phone gaming, which started out relatively niche and clunky in its formative stages before rocketing to become the most popular method of gaming across the globe. “Mobile gaming brought a form factor of a type of game that we've never seen before, you know, one-hand play and that kind of stuff, and innovations …