The United Kingdom government has introduced a bill aimed at clarifying the legal status of cryptocurrencies, non-fungible tokens (NFTs), and other digital assets. The proposed Property Bill, announced on Sept. 11, seeks to create an additional property category under UK law, recognizing digital assets as “things.” The new legislation would address the evolving nature of...
Starting July 19, a new Korean law will mandate that companies issuing certain types of NFTs register as virtual asset operators. This requirement is part of the Korean Virtual Asset User Protection Act, which aims to regulate NFTs that feature large-scale issuance, divisibility, or use as a means of payment. The Financial Services Commission (FSC)...
NFPrompt, an AI-driven platform for art and NFT trading, backed by Binance, has experienced a significant security breach, resulting in a notable downturn in its associated token’s value. The FBI is currently investigating the incident, which involved unauthorized access to the NFPrompt treasury, user accounts, and administrator wallets. Following the attack, the NFPrompt team took...
In a pioneering move within Russia’s art and technology sector, the first NFTs (Non-Fungible Tokens) based on artworks have been successfully sold. This milestone was achieved through the “Digital Art” pilot project, a collaborative effort by the State Hermitage Museum, Interros, and the Atomyze platform. The art tokens were designed in full compliance with the...
NFT Growth and Evolving Trends As 2023 ends, the nonfungible token (NFT) sector continues to be a dynamic component of the Web3 space, with experts forecasting significant developments for 2024. Cointelegraph consulted various Web3 professionals who shared insights into the anticipated trends and challenges for NFTs in the coming year. Key Predictions for 2024 Challenges...
Yuga Labs, the company responsible for the creation of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFT), has teamed up with Magic Eden, an NFT marketplace based on Solana, to launch a new Ethereum-based marketplace before the year ends. Learn more: Yahoo.com
Nonfungible token marketplace Magic Eden has launched its own “fully audited” marketplace for Bitcoin Ordinals, leveraging the surging interest in “Bitcoin NFTs.” The newly launched marketplace allows Bitcoin NFT traders to buy and sell Bitcoin Ordinal collections, giving users a similar experience to the one that Magic Eden offers for Polygon, Ethereum and Solana-based NFTs....
Meta has decided to stop supporting NFT on its social networks Facebook and Instagram. This was announced by the head of commerce and financial technologies Meta Stephane Kasriel. NFT support was added to the Meta social networks six months ago. At the end of August 2022, the company announced the introduction of digital tokens on...
The French Fashion House Hermes decided to achieve a complete ban on NFT series sales with Birkin bags. The company appealed to the federal court with a request to ban the artist Mason Rothschild to advertise, sell and own digital tokens issued by him from the Metabirkin collection, after the jury established that they violate...
American rapper and actor Snoop Dogg has been revealed as one of the co-founders of a Web3-powered live streaming app called “Shiller” — adding to yet another Web3 partnership for the well-known hip-hop artist. The app is described as a “live broadcast platform” that aims to combine Web3 technology with real-time live-streaming content. The rap...
