China News by Thebittimes.Com

The global non-fungible token market exhibits cyclical behavior, with “seasons” characterized by periods of strong interest and activity followed by periods of cooling and reassessment. This market pattern is often influenced by various factors, including geopolitics, negative crypto market sentiment, media coverage, and the underlying value proposition of specific non-fungible token projects. The NFT market has experienced a significant downturn in the past four months, primarily due to a combination of factors, including declining investor interest, falling cryptocurrency prices, and market saturation. Fortunately, the non-fungible token buying spell has started building up, with top NFT coins leading the recent surge. NFT coins are the native coins or tokens of a specific NFT ecosystem. Below, we have listed some of the top-selling NFT crypto coins in the NFT market. 1. FLOKI FLOKI, a utility token that forms the backbone of the Floki Ecosystem, is this week’s to...

Animoca Brands, the NFT and Metaverse firm, hopes to pass a resolution at its annual general meeting (AGM) on December 23 that would replace its auditor, DFK Collins, with Hall Chadwick. This is according to the distributed agenda.  Animoca has arguably been slow to file its recent audit reports, not completing its 2020 report until mid-2023. The report included comments from DFK Collins, which noted that for Animoca to “continue as a going concern” would be “dependent upon” it “raising new equity funds” as well as “support from the convertible note holders.” It would also need to “convert cryptocurrencies into fiat currencies as and when required.” However, despite these comments, it is important to note that DFK Collins also said that its “opinion is not modified in respect” of these matters. The crumbling empire of Fred Schebesta, Australia’s self-titled Crypto King Read more: Animoca Bra...

Despite facing a brutal market downturn, high volatility, and massive floor price drops in recent years, the non-fungible token market has continued to showcase huge resilience. The NFT market has recently started regaining mainstream attention, with new institutional investors and crypto projects entering the space. Fuku Ape, a newly launched NFT project on the ApeChain blockchain network, is a strong testament that the NFTs are regaining traction, selling out in just minutes. Snagged a few @fukuapes on secondary. Mint sold out instantly. Congrats @JRNYcrypto and team. Will post mine when they reveal. 🦍 ❤️ pic.twitter.com/rBzLNftPVh — GordonGoner.eth (Wylie Aronow) 🍌 (@GordonGoner) November 11, 2024 Fuku Apes NFT Mint Sold Out Instantly Fuku Apes, one of the first high-quality NFT art collections on ApeChain, has launched on the Magic Eden NFT market platform. Magic Eden is one of the leading multi-chain NFT marketplaces that supports non-fungi...

To boost users’ activity, SK Telecom has launch ed a digital currency for virtual purchases in its metaverse dubbed Ifland. One of the largest telecommunication companies in South Korea is taking another step towards the adoption of metaverse technologies. SK Telecom, a Korean telecom provider with over 30 million customers, announced in a press release on Monday, Oct. 16, 2023, the launch of an economic system to its metaverse platform Ifland, with a new virtual currency named “Stone.” Virtual meetup in ifland | Source: SK Telecom You might also like: Korean IT firm, NHN, to develop games on Sui network According to the Seoul-headquartered company, the digital currency can be used to purchase virtual items with “high collectible values” and to sponsor hosts of events or meetups. With the launch of Stones, SK Telecom wants to bring in more users as influencers can now generate profit by receiving donations from subscribers. “Goi...

Yuga Labs CEO Daniel Alegre said the firm was stretching itself thin by taking on too many projects, and will now focus on its core aims with a smaller team. Cutbacks at Yuga Labs Bored Ape Yacht Club creator Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.” The exact number of layoffs hasn't been specified, however, in an Oct. 6 blog post shared via X ( formerly Twitter), Yuga Labs CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities.” Yuga Labs is announcing a restructuring that will better focus our team on our core priorities. While certain roles have been impacted, these changes are necessary to evolve as an organization. For more see a note written by @dalegre on our https://t.co/722YfqwaCB official blog. — Yuga Labs (@yugalabs) October 6, 2023 “I realized very quickly that there were a number of projects that, while well-intentioned, either spr...

The gaming industry is at a pivotal crossroads, where the transition from Web2 to Web3 gaming has become the focal point of innovation and transformation. In the ever-evolving digital landscape , the distinction between Web2 and Web3 gaming has gained exponential significance. Web2 gaming is typically characterized by centralized, self-contained ecosystems, while Web3 gaming embraces blockchain technology, decentralization and the concept of players owning in-game assets. The shift from Web2 to Web3 gaming has emerged as a central point of innovation and transformation within the gaming industry. In this interview, Naoki Motohashi, the producer of TOKYO BEAST, a crypto-entertainment IP project, delves into the dynamics of this profound shift in gaming paradigms. With a substantial background as a producer in Web2 social games, Motohashi provides his perspective on the driving forces behind this transition and the reasons why Web3 gaming is poised to reshape the gaming landscape . Coin...

Almost every ApeCoin (APE) holder is at a loss, as the token is down 96% from April 2022 peaks. Analysts expect even more draw-down in the coming sessions. According to the data from IntoTheBlock, a blockchain analytics platform, 96% of APE holders , representing over 130k addresses, are in red. The decline isn’t solely in prices but extends to its transactional activity. Active wallets are down 61% in the last week alone. Additionally, the daily transaction count has crashed by 43%. One investor who initially bought 93,700 APE for over $2 million, recently liquidated all holdings at $1.51 per coin, realizing a loss of $1.5 million. APE was a trending token last year. Linked to the Bored Ape Yacht Club (BAYC), a popular non-fungible token (NFT) collection, it became a sensation almost overnight. You might also like: BAYC NFT floor price drops 90% from $600,000 in 18 months After launching in March 2022, APE prices rocketed to $26 by April, surging 220% in a month...

The world of NFTs has fallen prey to an unexpected wave of school-age cyber bandits, orchestrating intricate phishing scams that have netted them million s in stolen assets. The digital finance platform Orbiter Finance was victimized last month when a false journalist impersonating an employee of a cryptocurrency news outlet deceived a Discord moderator. This ruse allowed the false journalist to gain control of the Discord server, limiting administrators’ abilities and preventing community members from messaging. The infiltrator used this control to promote a fictitious airdrop event, directing users to a phishing site meant to steal their NFTs. As a result, NFTs and tokens valued at approximately one million dollars were taken. For a brief moment, our Twitter account was compromised. We have successfully regained access and removed the malicious posts. We are investigating how this happened. Stay safe and always verify links you see on Twitter! — Zerion (@zerion) Ju...

Real-world artifacts from the famous Titanic wreckage are set to be tokenized as NFTs through a new partnership using blockchain technology. Artifacts recovered from the wreckage of the Titanic are set to be tokenized using blockchain technology through a partnership driven by the company that acts as the steward of the sunken vessel. A three-way partnership involving RMS Titanic Inc. (RMST), Hong Kong-based Venture Smart Financial Holdings and Web3 firm Artifact Labs will begin tokenizing precious artifacts from the Titanic to unlock a myriad of Web3 functionalities. Select artifacts from the sunken Titanic will be preserved as nonfungible tokens (NFTs), which is aimed to open up shared ownership to the wider general public. RMST holds the exclusive rights to recover artifacts from the Titanic and its wider debris field from the bottom of the North Atlantic Ocean. Venture Sm Art Financial Holdings will be tasked with structuring the tokenization of intellectual property linked to th...

As crypto winter and numerous disasters plagued 2022, what is next in Web3 space in 2023? As the world moves toward a more digital future, the concept of Web3 and its potential to revolutionize the internet has become a hot topic in the tech industry. In this interview, SafePal CEO Veronica Wong, shares her insights on the future of Web3 and the current state of the crypto market. She also talks about her thoughts on the challenges and opportunities in the crypto Security space and how SafePal is positioning itself to meet these challenges head-on. Q: In 2022 the crypto space saw some significant turbulence and the crash of several big platforms. What do users need to know entering 2023 as crypto investors, and how can they better protect their digital assets? While black swan events damaged the general faith in crypto, a large part of it was due to the opacity and malpractice of centralized platforms, and not an accurate reflection of the industry as a whole. Crypto is still a nascen...

A new survey showed that developers believe that integrating Web3 will have an impact in terms of user acquisition and retention. As blockchain gaming gains broader adoption, 3 out of 4 game developers are expecting to work on Web3 game projects in the future, according to a recent survey.  Blockchain entertainment firm Coda Labs commissioned a survey, targeting game developers to have a peek at their thoughts about Web3. After conducting the survey, the researchers found that a majority of the respondents believe that Web3 gaming is on its way to their firms. 75% of the participants expect to work on Web3 projects in the future. Apart from this, more than half of the survey participants believe that Web3 will revolutionize the gaming industry. Some believe that Web3 will have an impact in terms of user acquisition and retention. 40% anticipate that implementing Web3 will bring more new users, while 36% believe that Web3 integration will enable games to retain users better. Sekip Can...

This week NFT Steez spoke to award winning artist Victor Solomon about basketball, the Metaverse, Web3 and his unique NFT collection. On Dec. 2, NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey into bridging his in-real-life artwork into NFTs and how he cultivates the community and culture that surrounds it.  Solomon's work centers around basketball, not just the object, but the sport itself. For Solomon, the inspiration for his work comes from his early childhood of wanting to play hockey, a sport that was not accessible for him, and his eventual discovery of basketball which he discovered to be more accommodating. Solomon said: "Basketball was such an inspirational platform for me since there's no barrier to entry." Solomon says that the open nature of basketball is an "incredible parallel for everything that's happening in Web3" and throughout the episode he explains the symbiotic relationship he has ...

The company’s co-founder announced that the fund is still in the works but plans to provide billions to startups with a metaverse focus. The GameFi champion and metaverse developer Animoca Brands has a billion -dollar fund in its plans, according to a report from Nikkei Asia on Nov. 30. Animoca Brands’ co-founder Yat Siu said in an interview that the fund could potentially have up to $2 billion dollars to allot to mid to late-stage startups with a metaverse focus. The fund and the exact amount available to developers have yet to be finalized. Cointelegraph reached out to Animoca Brands for a comment, to which the company confirmed that the fund is “in the works.” According to the interview with Siu there will be no geographical restrictions for those to receive funding and the primary focus will be “everything on digital property rights." He also said the funds are intended to speak to a more mature developmental atmosphere in the Web3 - metaverse space, which allows investor...

BNB Chain’s integration into the Seaport Protocol aims to provide BNB Chain creators with multiple creator payouts, real-time payouts and collection management. Crypto collectibles and nonfungible token (NFT) marketplace OpenSea announced plans to integrate BNB Chain on Seaport Protocol by the end of Q4 2022. The integration will allow users to buy, list and trade BNB Chain NFTs on the OpenSea marketplace. BNB Chain was built by Binance to operate as a Web3-focused blockchain network powered by the exchange's in-house token, Binance Coin (BNB). BNB Chain’s integration into OpenSea's Seaport Protocol aims to provide BNB Chain creator s with multiple creator payouts, real-time payouts and collection management, among others. Sharing insights into the move, Gwendolyn Regina, Investment Director at BNB Chain, revealed her intent to deliver better experiences to NFT creator s and users. She added: “The integration will bring a large number of creators into the wider system, as wel...

In this guide, we share all you need to know about Lens Protocol, a decentralized social graph that simplifies building Web3 social platforms. Source: https://thebittimes.com/what-is-lens-protocol-and-how-does-it-work-tbt25741.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Chain news Post by: TheBitTimes.com