Cardano is a proof-of-stake (PoS) platform launched in September 2017 by Ethereum co-founder Charles Hoskinson. In September 2021, Cardano added support for smart contracts, which paved the way for developing decentralized finance (DeFi) and nonfungible token (NFT) applications. NFTs landed on Cardano’s blockchain in 2022, with Cardano’s native cryptocurrency ADA (ADA) utilized to buy and sell them. The deployment of smart contracts on Cardano allowed the creation of NFT marketplaces, including CNFT.IO and Jpg.store. These marketplaces facilitate NFT projects on Cardano in a cost-effective and scalable way, attracting many enthusiasts seeking a user-friendly platform for creators and traders with low-cost …

The development of blockchain technology and the growing adoption of nonfungible tokens (NFTs) are two factors that have contributed to the proliferation of play-to-earn collectible games. Play-to-earn (P2E) games allow players to gain benefits by participating in the game, such as in-game currency and items. This creates a new dynamic where players can profit from their in-game actions, enhancing the fun and purpose of the gaming experience. Additionally, the usage of NFTs and blockchain technology in play-to-earn games gives players greater ownership and scarcity, which increases demand and can result in higher prices for exclusive in-game commodities. Play-to-earn games like …

The Securities Commission of The Bahamas (SCB) has denied FTX debtors’ claims and expresses concern that the investigation has been ‘impeded.’ According to a statement released on Jan.3, The Securities Commission of The Bahamas (SCB) has had to correct material misstatements made by John J. Ray III, the representative of the United States-based FTX debtors, in press and court filings. The document stated that the Chapter 11 Debtors had “publicly challenged” the Commissions calculations of digital assets transferred to digital wallets under the Commission's control in Nov. 2022. It argued that these statements were based on “incomplete” information and the …

Considering that protocol-level censorship is deterrent to the crypto ecosystem's goal of highly open and accessible finance, the community has been keeping track of Ethereum’s growing compliance with standards laid down by the Office of Foreign Assets Control (OFAC). Over the last 24 hours, the Ethereum network was found to enforce OFAC compliance on over 73% of its blocks. In Oct. 2022, Cointelegraph reported on the rising censorship concerns after 51% of Ethereum blocks were found compliant with OFAC standards. However, data from mevWatch confirmed that the minting of OFAC-compliant blocks on a daily basis has grown to 73% as …

Tattoos have been a universal phenomenon throughout the world for thousands of years, transcending cultural transformations and technological shifts. As the art continues to evolve, it has now taken steps into the nonfungible token (NFT) space in a bid to maintain relevant in an increasingly digital world. Known as Bang Bang in the tattoo industry, Keith McCurdy is one of the artists who hopes to merge the ethos of tattoo culture with disruptive technologies. He's using a new type of rewriteable tattoo ink that appears and fades away under different lighting conditions. Over the past five years, Bang Bang said …

The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum (ETH) layer 2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer. The pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and tech developers before a public beta of the NFT marketplace debuted in July. With the Oct. 31 announcement of the full launch, GameStop’s market will allow for popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained to be accessed by users. Gamestop …

The allure of nonfungible tokens (NFTs) has been growing in popularity recently, and for a good reason. Nonfungible tokens are a new form of asset that can represent anything from digital art to game items and are stored on the blockchain ledger. This implies that NFTs are unique, immutable and transparent. People collect NFTs for a variety of reasons, including art appreciation, value speculation and as part of playing games like Decentraland or Cryptokitties that are based on blockchain technology. There are many possible reasons that NFTs have become popular, and different people will have different reasons for investing in …