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Deciphering the Metaverse: The Maturation of Financial Instruments

May 20, 2022, 3:30PM EDT • 16 min read Quick Take This weekly series explores the most interesting insights in NFTs, blockchain gaming, and virtual worlds While NFT liquidity has dried out on Ethereum over the last week, it has started to flourish on Solana In support of more sophisticated NFT trading strategies, more elaborate financial tools have been developed Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including …

OpenSea disables Bored Ape NFT amid legal case in Singapore

OpenSea has disabled trading for a Bored Ape Yacht Club (BAYC) non-fungible token on its platform amid an ongoing court case in Singapore. The item in question, BAYC #2162, is now marked with a “reported for suspicious activity” tag on OpenSea, the world’s largest NFT marketplace. This tag prevents the current owner from being able to list the NFT for sale. Prospective buyers also cannot place offers for the item. An individual called Rajesh Rajkumar was able to secure an …

Vaccinated Chicago teens mint NFTs of themselves for disease prevention

The Face Forward Project, a COVID-19 prevention effort focused on vaccination, is minting the portrait of vaccinated teens into non-fungible tokens (NFT).  According to a Chicago government release, the effort is meant to reward young people who have vaccinated themselves against COVID-19. Teens can have their portrait minted onto a one-of-one NFT to keep or to later resell on a secondary marketplace.  The NFT multimedia platform VAST will give NFTs to the teens who choose to participate, and each NFT …

GameFi startup N3TWORK Studios raised $46 million in Series A funding

Blockchain gaming startup N3TWORK Studios announced Wednesday that it closed a $46 million Series A funding round. Griffin Gaming Partners, a venture firm focused on financing gaming startups, led the round. Additional participants include Kleiner Perkins, Galaxy Interactive, Floodgate, LLL Capital, N3TWORK Inc (the parent company of N3TWORK Studios) and others. N3TWORK games incorporate free-to-play elements and blockchain technology such as non-fungible tokens, into their mobile games. The firm intends to use the funding to continue building out its web3 …

Bored Ape Yacht Club floor price has fallen 50% in dollar terms this month

Quick Take BAYC’s floor price is down by more than 50% in dollar terms since the beginning of May. Sale volumes have also fallen throughout the month. The floor price of the popular NFT collection Bored Ape Yacht Club (BAYC) fell below $200,000 on Wednesday as the NFT market continues to slide.  BAYC has seen its floor price — a measure of the cheapest NFT in the collection — fall significantly in May. It’s currently at around $198,000, according to …

Fireblocks pushes into NFT custody and web3 developer tools

Digital asset custody platform Fireblocks has launched a new web3 platform, with a suite of tools for developers to build DeFi, GameFi and NFT products and services. The new portal will unlock secure access to the world of decentralized applications, exchanges and NFT marketplaces for alternative asset managers and capital markets participants, the company said in a release on Tuesday. Fireblocks currently serves more than 1,200 financial institutions.  With this development, it will also offer custody of NFTs and launch …

Deciphering the Metaverse: The Blank Slate of Art NFTs

May 13, 2022, 3:26PM EDT • 16 min read Quick Take This weekly series explores the most interesting insights in NFTs, blockchain gaming, and virtual worlds Against the backdrop of intense market volatility, NFTs have seen a widespread sell-off over the last week In particular, popular PFP collections have been blindsided by enormous price drops Traditional artists are increasingly trying to bridge the physical and digital worlds with their experimental forays into NFTs Join The Block Research for exclusive research …

Ukraine’s Digital Transformation Ministry approves charity NFT project

Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, on Thursday tweeted out support for Avatars for Ukraine, a non-fungible token (NFT) project directly benefiting humanitarian and defense tactics in Ukraine.  The project involves 70 digital artworks that emerged as a result of the Russia-Ukraine war, featuring Ukrainian imagery and resistance to Russian forces. All proceeds from digital art sales fund Ukrainian war endeavors. Avatars for Ukraine is approved by the Ukrainian Ministry for Digital …

NFT prices crumble as crypto market enters downturn

Quick Take NFT prices and sales volumes are falling amid a rout in crypto markets. CryptoPunks and Bored Ape Yacht Club collections have seen their floor price plunge. Prices of non-fungible tokens (NFTs) have declined this week as the TerraUSD (UST) algorithmic stablecoin’s de-pegging heaps pressure on cryptocurrency markets.  The popular Bored Ape Yacht Club (BAYC) has seen its floor price — a measure of the cheapest NFT in the collection – drop by 25% over the past week to …

Web3 development platform Moralis reels in $40 million in Series A

Web3 development platform Moralis said on Wednesday that it has snagged $40 million in a Series A funding round.  Investors in the platform, which launched last June, include EQT Ventures, Fabric Ventures, Coinbase Ventures and Dispersion Capital, among other angels.  The Stockholm-based business, which provides infrastructure for developers to build and launch apps, games and NFTs cross-chain, said in a release that it will use the money for product development, improving user experience and scaling to both increase its client …