With cryptocurrency prices wavering this year, nonfungible tokens (NFTs) and other sub-ecosystem investors have also found themselves in the grips of a bear market. However, looking beyond the trading value of Ether (ETH), NFTs were primarily created to represent assets and ownership in the real and virtual world. The bear market, as a result, has reignited discussions around how NFTs can backtrack and focus on attending to use cases while the market recovers. In a conversation with Cointelegraph, Tony Ling, the co-founder of analytics platform NFTGo, shared insights into the NFT ecosystem, revealing the expected trajectory of the ecosystem. Cointelegraph: …

Yuga Labs co-founder Greg Solana (Garga.eth) has shot down rumors that the Bored Ape Yacht Club (BAYC) creators have plans to launch a new NFT collection dubbed “Mecha Apes” by the end of the year. The rumors started swirling after Protos claimed to have obtained leaked documents detailing that Yuga Labs was looking at raising around $50 million from the sale of 100,000 tokenized land plots. After the news was reported via various outlets online, Garga.eth noted it was all “fake news” via Twitter on Sept. 16. fake news https://t.co/KVMaO18IaF — Garga.eth (@CryptoGarga) September 15, 2022 While the rumors have …

Blockchain-based games need to spend more time actually being “fun to play” rather than developing flashy tokenomics, an Animoca Brand-owned blockchain game developer told Cointelegraph. Speaking to Cointelegraph on the first day of the 2022 Tokyo Games Show, Luke Sillay, the lead community manager at Australia-based game developer Blowfish Studios said that far too many blockchain games have put the focus on in-game rewards and tokenomics rather than gameplay. “You can see from a lot of other blockchain games that they're not actually fun to play. Like, yes, you have potential to earn quite a significant amount of token and …

An upcoming blockchain game has revealed when it will launch. Reta Wars is going to be available to players from Oct. 3 — and the project says it's determined to usher in a new era of GameFi. It's a strategy "war-to-earn" game powered by NFTs, where two decentralized autonomous organizations (DAOs) compete strategically for revenue. The game involves using NFT heroes to grow territory, concocting compelling strategies with fellow players, and leading their faction to victory. Each NFT hero will have the ability to produce resources on command, or fight enemies in battle — and they'll be a crucial component …

The long-awaited Ethereum Merge has happened, and the community can’t sit still. Moments after the historic crypto event, one user minted the first ever nonfungible token (NFT) on the proof-of-stake (PoS) consensus. Officially the Merge took place on Sept. 15 at 06:42:42 UTC at block 15537393. The first announcement of the mint and sale of the NFT came shortly after at 07:08 UTC. The NFT, which is a time capsule of the moment of the first NFT mint and the iconic panda face, was quickly purchased at the price of 36 Ether (ETH). Someone just paid 36 ETH in gas …

A multi-chain marketplace that's fully focused on music-related nonfungible tokens is gearing up for launch within weeks. Centaurify says it's determined to empower musicians with an opportunity to make the most out of Web3 — all while bringing them closer to fans. Ethereum and Solana are going to be supported initially, with more networks set to be included in subsequent releases. Another crucial Centaurify product will center on issuing tickets for live music events as NFTs. Executives firmly believe this has the potential to eliminate counterfeits, prevent "scalping" practices that raise prices for everyone, and ensure artists and organizers receive …

Solana-based nonfungible token (NFT) marketplace Magic Eden has fended off some community backlash following the launch of MetaShield, its new enforcement tool aimed at deterring NFT buyers who bypass creator royalties. MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube saw mixed reactions from the NFT community following its launch on Sep. 12, who were split on whether NFT marketplaces should protect creator rights or cut royalty fees to make NFTs cheaper for collectors. The NFT royalty enforcement tool is designed to allow NFT creators to flag and blur NFTs that may have been sold …

In this week’s newsletter, read about how Sony Music Entertainment is preparing to venture into nonfungible tokens (NFTs). Check out how car manufacturer Ford is on the way to entering the Metaverse and how coffee chain Starbucks plans to launch NFT rewards through a program called Starbucks Odyssey. In other news, learn about how the Japanese government used NFTs to reward public servants who excelled in using digital technology to provide local solutions. And, don’t forget about this week’s Nifty News roundup featuring a little league baseball card featuring Meta founder Mark Zuckerberg. Sony Music files trademark application for NFT-authenticated …

On Tuesday, nonfungible tokens (NFTs) collection Doodles announced that it had raised $54 million at a $704 million valuation in a funding round led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital, and FTX Ventures. As told by Doodles, the investment will allow it to scale its growth strategy and monetize its intellectual property globally through ventures in the music, culture and entertainment industries. Doodles is a collection of 10,000 NFTs co-founded by digital artist Burnt Toast and Web 3.0 pioneers Evan Keast and Jordan Castro. Artistically, it is known for its colorful world and joyful cartoon …

Amazing things are being built in Web3 — often by pseudonymous individuals who prefer to keep their real-world identity private. In some ways, this is liberating. It means that anyone can have a chance to get involved in a project and deliver value to the community — irrespective of their background. But as decentralized identities proliferate, there's one issue that cannot be ignored: Ensuring that there's an easy way for us to verify the reputation of others. This matters… for many reasons. If you're about to start using a DeFi project created by someone pseudonymous, you'd like a way to …

A new protocol has bold ambitions to become the feed of Web3. RSS3 is an open-sourced information syndication protocol — a search engine that delivers an aggregated human-readable feed about every crypto wallet in existence. The project has been built on three core ideologies: Transparency, decentralization and modularity. Founders say they're determined to ensure no single, authoritative figure controls everything — and want to encompass everything going on in this fast-moving space. RSS3 says its product is a convenient way to know everything addresses, with keywords to be added in the near future. Intuitive features allow you to keep track …

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. Decentralized applications, or DApps, finally showed a glimmer of recovery in August as the daily average of unique active wallets rose by 3.7% compared to May. With just under a week left for the Merge, SEBA Bank has opened Ethereum staking services for the institutions. On the other side, layer-2 scalability solutions are hopeful of seeing a significant cut down in their carbon emissions post Merge. This past week, two DeFi protocols became victims …