Japanese gaming giant Konami is seeking to expand its crypto-versed talent pool while it ey the development of Web3 and Metaverse “experiences” and a nonfungible token (NFT) marketplace. The gaming giant is the latest in a lengthening list of big names signaling interest in expanding its Web3 offerings by seeking to acquire new talent. On Oct. 13, the company announced that it was recruiting a “wide range of talent” for "system construction and service development" relating to future Metaverse and Web3 platforms. Konami stated that it has been conducting research and development to incorporate the “latest technology” into its games …

Digital asset manager CoinShares has launched an experimental Twitter bot that will, in theory, enable users to check the estimated fair market value of specific nonfungible tokens (NFTs), though a few have been less than enthused about the estimates given. The firm announced the bot dubbed “CoinSharesNFTAI” via Twitter on Oct. 13 and outlined that its algorithm is focused on aggregating different data sets from OpenSea to determine the supposed “fair price” of an NFT. [1/4] We are very excited and proud to announce the official launch of @CoinSharesNFTAI. A simple tweet can let you know how much an NFT …

Non-fungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph it's nothing to fear as the technology continues to develop and mature. Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia said “despite NFT market activity and sales volume having slowed down in September, we are still seeing positive adoption signals at an institutional level and continued growth in use cases.” He told Cointelegraph that the company remains “bullish on the NFT space” and believes it will be “just as disruptive and innovative as Bitcoin was 10 years ago," and said …

The hype around nonfungible tokens (NFTs) may be fading, yet a number of organizations continue to implement Web3 initiatives. Nonprofit organizations and activists, in particular, have begun implementing nonfungible token projects to help fundraise and generate awareness for certain causes. While these methods are still new, NFT projects for philanthropy have been met with relative success. A recent report from crypto donation platform The Giving Block found that nonprofits using The Giving Block received more than $12.3 million dollars in cryptocurrency donations from NFT-related charitable giving initiatives in 2021. The report further noted that charitable organizations using NFTs are presented …

The beta version of a much-anticipated NFT game is about to be released. SolChicks has the ambition of becoming the best play-and-earn RPG ecosystem on the Solana blockchain, with gamers using adorable chicks as their characters in an immersive gaming metaverse. Initially, the beta version will only be accessible to those who already hold SolChicks NFTs — and the game will be available on Android devices and PCs. The closed beta service will be launched on 15 October at 12pm UTC, and you can find out how to register here. A dramatic tweet that shows a SolChick in black and …

Solana (SOL) blockchain-based move-to-earn fitness app STEPN is reportedly laying off over 100 of its contract workers amid the ongoing crypto bear market and as its user numbers dwindle from previous highs. Moderators and ambassadors will be among the sacked staff, and investment in STEPN will be scaled back according to crypto reporter Colin Wu. There will also be a shift toward promoting STEPN's parent company Find Satoshi Lab (FSL) and its new projects, Wu claimed, citing community sources. The famous blockchain game STEPN began to lay off staff in the bear market. It will mainly lay off more than …

According to game statistics site Activeplayer, the average monthly number of users playing monster-battle nonfungible tokens (NFT) game Axie Infinity has fallen to 701,447, representing levels not seen since January 2021. At its peak, monthly Axie Infinity players hit 2.78 million in January of this year before the advent of the crypto winter. The popular play-to-earn NFT game lost 1.2 million players alone in June. Bear market aside, game mechanics also partly contributed to the decrease in player count. At around the same time last year, players in developing nations reported higher earnings from playing Axie Infinity than some countries' …

In this week’s newsletter, read about how the racing brand Formula One is planning to position itself in Web3 and how nonfungible tokens (NFTs) will transform betting on upcoming athletes. Check out how GameFi can provide the unemployed with a new means to earn and find out how the wealthiest British artist alive burned $10 million in artworks to complete his NFT project. And, don’t forget this week’s Nifty News featuring OpenSea adding Avalanche support and Meta adding feet to its avatars. Formula One files ‘F1’ trademarks covering crypto, NFTs and Metaverse Racing brand Formula One filed NFT-related trademarks showing …

As brands focus on building new use cases during the bear market, a team has come up with combining nonfungible tokens (NFTs) and near-field communication (NFC) chips to enhance the experience of their users. In an interview with Cointelegraph's Alyssa Exposito, RTFKT co-founder Steven Vasilev shared insights from their experience in creating RTFKT and gave thoughts on how they are creating an ecosystem of authenticity through NFTs and NFC technology. According to Vasilev, when their team was creating the RTFKT project, they realized that NFTs and blockchain technology had the potential to enhance the experience of collectors. He explained that: …

A crypto wallet provider has unveiled fresh, new branding as part of its quest to deliver an even better user experience. Founded in 2018, SafePal is a Singapore-based company that provides secure and easy-to-use wallet solutions for the masses. It is the first wallet incubated and invested by Binance Labs, the venture arm of Binance. With a mission to make crypto secure and simple for everyone, SafePal has built comprehensive crypto asset management solutions — including hardware wallets, mobile wallets, extension wallets, cross-chain swaps, trading services and more. At present, the business supports 48 blockchains and 15 languages — serving …

The $200 billion gaming industry is rapidly becoming a key point of interaction between Web2 and Web3. In recent times a growing number of gaming companies have integrated digital wallet support and nonfungible token (NFT)-based reward systems and even launched their own metaverses. The growing prominence of GameFi in the Web3 economy makes the likes of Animoca Brands believe that it would become an onboarding point for the Metaverse. During the Future Blockchain Summit, Animoca Brands co-founderYat Siu said that their focus is on the gaming industry as they are closer to a metaverse than any other industry. He noted …

Britain’s wealthiest living artist, Damien Hirst, has started setting fire to millions of dollars worth of his own artworks as part of his nonfungible token (NFT) project called “The Currency.” During an Oct. 11 live stream of his London gallery at 12:30pm local time, Hirst burned hundreds of his own “The Currency” artworks, ensuring that they exist only in the form of an NFT moving forward. “The Currency” is the name given to Hirst’s first NFT collection which dropped last year — made up of 10,000 NFTs each tied to a physical oil painting. The project has been part of …