Cointelegraph senior reporter Rachel Wolfson spent a day exploring NFT NYC 2022 to learn about emerging nonfungible token projects,or NFTs, and how the sector may advance. A recent market report published by Verified Market Research (VMR) predicts that the NFT market could reach a value of $230 billion by 2030. NFT NYC 2022 certainly demonstrated the potential of the NFT sector, highlighting some of the most promising use cases and industry experts. For instance, Camila Russo, founder of The Defiant and author of The Infinite Machine, told Cointelegraph that NFT products should advance to bring value to holders, whether that …

Popular comedic writer and actor Bill Murray had his Ethereum wallet hacked for around 110 Wrapped ETH (wETH) worth $172,000 late last week. The auction for the The Bill Murray 1,000 NFT drop was just coming to a close on Thursday Sept. 1, having generated a total of 119.2 wETH worth of sales as part of a charity fundraiser for Chive Charities. However hackers were reportedly watching Murray’s wallet all day, and pounced to swipe nearly all of the funds as the sale came to a close. While it is not 100% certain how the hackers gained access to Murray’s …

In an ironic twist, Rug Pull Finder (RPF), a nonfungible token (NFT) watchdog focused on identifying Web3-based fraud has fallen victim to a smart contract exploit of its own. According to the NFT investigator’s post on Twitter on Sept. 2, two people exploited a technical flaw in the project during the free mint stage — pilfering 450 NFTs out of a possible 1,221 which were intended to be limited to one per wallet. As discussed on our Twitter space's earlier today - We messed up. We messed up big. Our contract had a flaw that allowed 2 people to scoop …

Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities— federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it? On Aug. 2, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to discuss the state of blockchain-based identities and …

The Brazilian Securities and Exchange Commission is reportedly pursuing changes in the country's legal framework with regard to its regulation of cryptocurrencies. According to local media, one major concern is that the bill in question does not appear to consider tokens as digital assets or securities — and they therefore wouldn't fall under SEC regulation. The updated position of the nation's SEC follows the appointment of a new board and the increased relevance of the crypto sector in the financial services in the country. Brazilian lawmakers have been working on regulations for cryptocurrencies since 2015, but the Senate only approved …

A new NFT and metaverse project is being built on the Ethereum blockchain — with a cutting-edge difference that could set it apart from rivals. Astral Pioneers says it will enable players to own their own land, mine it for resources, and start building across 30 different planets. But it's the in-game governance mechanism that sets this project apart, as it's going to use soulbound tokens to represent and ensure citizenship. SBTs are a new approach to cryptoassets that has been championed by Vitalik Buterin, the co-founder of Ethereum. He was inspired by a feature found in World of Warcraft …

The music industry has been a major adopter of Web3 integration, with use cases ranging from song rights, blockchain-based streaming and new forms of digital releases. Genres like pop, EDM and hip hop have represented nonfungible tokens (NFTs) in the music industry so far. However, classical music, and specifically opera, just found its entrance. Living Opera, a Web3 community that combines classical music with blockchain innovation, is turning to the emerging technology to give a new voice to the prestigious art and the artists who perform it. Soula Parassidis, CEO of Living Opera, told Cointelegraph in an interview that the …

As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain. In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain. The NFT marketplace also highlighted that its team is preparing the NFT trading platform for any issues that may arise with the upcoming Ethereum Merge …

A group of hacktivists called the Belarusian Cyber Partisans have been attempting to sell a nonfungible token (NFT) featuring the purported passport info of Belarus president Alexander Lukashenko. The Belarusian Cyber Partisans say the move is part of a grassroots fundraising campaign to fight “bloody regimes in Minsk and Moscow.” The members claim to have hacked into a government database that has the passport info of every Belarusian citizen, allowing them to launch an NFT collection called "Belarisuan Passports," which includes a digital passport that supposedly features Lukashenko’s actual information. 1/3For the 1st time in human history a #hacktivist collective …

After much speculation, the wallet hodling more than 22 billion of Axie Infinity’s total supply of in-game token Smooth Love Potion (SLP) has been identified as an address belonging to Binance. The wallet was first highlighted by Axie Infinity player and tech co-founder Michael Benko, who raised concerns about it having over 50% of SLP’s total circulating supply, which could potentially have an impact on the game's ecosystem. Following a Cointelegraph report on the matter, Axie Infinity co-founder Jeff Zirlin confirmed on Twitter that the address is a “Binance Ronin gateway contract.” A previous statement to Cointelegraph from Sky Mavis …

Luxury brand Hermès is laying the groundwork for its entrance to Web3 after filing a trademark application covering NFTs, cryptocurrencies, and the Metaverse. According to an Aug. 26 filing to the United States Patent and Trademark Office (USPTO), the trademark covers downloadable software to view, store and manage virtual goods, digital collectibles, cryptocurrencies, and NFTs “for use in online worlds.” It also filed trademarks for “retail store services featuring virtual goods” as well as fashion and trade shows in “online virtual, augmented or mixed reality environments” and for “providing an online marketplace for buyers and sellers of virtual goods.” Luxury …

On Aug 29, Facebook and Instagram’s parent company Meta announced that its users will now be able to post digital collectibles and Non-Fungible Tokens, or NFTs, across both platforms by simply connecting their digital wallets to either site. We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both. What NFT are you excited to share? https://t.co/wa2wkWfI7p pic.twitter.com/SlpwAuY02c — Meta Newsroom (@MetaNewsroom) August 29, 2022 While Meta’s announcement may have seemed to some like a mass adoption win for some digital asset enthusiasts, …