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PartyBid creator PartyDAO raises $16.4 million led by a16z

PartyDAO, the decentralized organization behind the NFT bidding platform PartyBid, has raised $16.4 million in a funding round led by Andreessen Horowitz (a16z).  Other participants in the round include Standard Crypto, Compound Crypto, Dragonfly Capital, Uniswap Ventures (after having invested in PartyDAO in April of this year) and Loot creator Dom Hofmann, according to a Thursday statement.  PartyDAO’s main application, PartyBid, allows multiple people to buy and own or fractions of digital assets by pooling funds and sharing ownership.  PartyDAO’s …

Robinhood’s former crypto boss raises $8 million for NFT platform

Quick Take Founded by Chris Maddern, Floor tracks data on prices for non-fungible tokens.  The app is currently only available to the 3,500 Floor token holders, however with the funding it plans to open parts of the Floor platform to everyone. Floor — an upstart project in the non-fungible token (NFT) market — announced on Wednesday the close of a Series A funding round.  Born out of founder Chris Maddern’s own frustration with managing his portfolio of NFTs, Floor also …

NFTs represent ‘technological Renaissance’ in art, Binance exec says

Binance’s head of non-fungible tokens (NFT) and fan tokens, Helen Hai, said today that the exchange is looking to offer courses to empower women to make money from NFTs. In an on-stage conversation at the Money 20/20 conference in Amsterdam, Hai spoke about the benefits of blockchain for removing intermediaries in the art world and beyond. She said that the ultimate goal for NFTs is a “technological Renaissance” in art. She said that the answer to the question of whether …

Yuga Labs wants ApeCoin on its own blockchain. ApeCoin owners think otherwise

The Bored Ape community has voted to keep building within the Ethereum ecosystem, rather than move the ApeCoin token its own blockchain as creator Yuga Labs had suggested. According to a snapshot vote that ended today, the ApeCoin governance mechanism — known as the ApeCoin DAO — voted 53.6% in favor of staying within the Ethereum ecosystem. The vote was close, with 3.8 million APE voting for the proposal and 3.3 million APE voting against it. “Migrating to a different …

How authorities could pursue ‘insider trading’ in crypto

Quick Take Last week a grand jury indicted former OpenSea head of product Nate Chastain for actions related to an alleged insider trading scheme. But Chastain wasn’t indicted for securities law violations, which are usually associated with insider trading. If successful, the case could create a way for US regulators to police front-running in crypto regardless of whether implicated tokens are securities. This feature story is available to subscribers of The Block News Plus. You can continue reading this News …

Axie Infinity earned less than $1 million for the first time since early 2021

The blockchain-based game Axie Infinity brought in only $988,400 in revenue last week — the first week the play-to-earn (P2E) game has clocked less than $1 million since February of 2021.   Axie, the darling of the P2E world, experienced a meteoric rise in popularity in the summer and early fall of 2021. At its peak, the game accrued over $215 million during the week of August 8, 2021. In October of that year, Axie’s creator Sky Mavis had even …

NFT-based game Illuvium raises $72 million in digital land sales

Illuvium, a monster-battle roleplaying game that incorporates non-fungible tokens (NFTs), announced Sunday that it raised over $72 million in digital land sales.  The land sale occurred between June 2 and June 5, 2022. Of the 20,000 plots of land available, 19,969 were sold, with the remaining 31 plots of land to be held for future giveaways.  Illuvium also notes that there were no gas wars during the land sale, which is when Ethereum gas prices increase due to heightened demand …

Bored Ape Yacht Club’s Discord was ‘briefly exploited’ resulting in 200 ETH in NFT thefts

Blue-chip non-fungible token (NFT) project Bored Ape Yacht Club (BAYC) said on Saturday afternoon that its Discord servers were subject to a “brief” exploit, as 200 ETH ($357,000) worth of NFTs were ultimately stolen from users. Screenshots posted by a Twitter user with the screen name OKHotshot show that a project community manager’s Discord account appears to have been hacked, meaning scammers could carry out a phishing attack. “We are still investigating, but if you were impacted, email us at …

Animoca Brands acquires mobile gaming startup Notre Game

Crypto software and venture capital firm Animoca Brands announced Friday the purchase of Notre Game, a gaming firm that incorporates physical and digital items into its titles.   Animoca Brands now owns 100% of the issued capital for Notre Game, marking yet another acquisition of a blockchain gaming startup for the firm. Notre Game will continue to operate as a subsidiary of Animoca, the firms said in a press statement. Notre Game is a Prague-based gaming startup founded in 2016. Its …

Binance sponsors The Weeknd’s upcoming music tour

Crypto exchange giant Binance announced Thursday that it is the official sponsor of The Weeknd’s “After hours Til Dawn” tour, marking one of the first instances of a prominent crypto firm funding a popular performing artist. Binance has also partnered with the incubator and accelerator HXOUSE to help release The Weeknd’s NFT collection and to give attendees commemorative NFTs from the tour.  “It made perfect sense to work together [with Binance] and I can’t wait for fans to experience crypto …