CRYPTO BLOG ALERT

A report published by the Block chain Gaming Alliance shows that non-fungible token games generated billions in revenue in the third quarter. Block chain gaming continues to grow and dominate the non-fungible token (NFT) space with a share of roughly 22% of all NFT trading volume in the third quarter of 2021, according to a report released by the Block chain Gaming Alliance, or BGA. The report showed that NFT games accumulated $2.32 billion in revenue between July and September.  Meta verse-related activity was also highlighted in the report. It showed that virtual land sales reached $42.6 million while the total market capitalization for virtual world decentralized apps reached an all-time high of $4.6 billion at the end of November. Additionally, the report mentioned that there is a “6,566% increase in daily unique active wallets.” These are wallets that interact with smart contracts connected to games. The report also cited significant investments in block chain gaming companies...

The new RTFKT acquisition confirms Nike’s interest in being a prominent contributor to the virtual world of the metaverse. Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest U.S.-based athletic products manufacturer through this partnership to join the metaverse bandwagon. A report from Nov. 02 highlighted Nike's submission of requests for patenting the words — namesake, swoosh logo and just do it — for use online and in online virtual worlds." The filing was accompanied by two new job postings for virtual material designers, signaling the company's intent to enter the metaverse. However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem. According to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.”  John Donahoe, the president and CEO of Nike believes that the move helps accelerate Nike’s d...

  @HazemonkeyNFT , have officially revealed a sample of their breath-taking art collection on their  official twitter handle . The art was dropped on their twitter handle 4;20pm EST, 8th December, 2021 and has gathered a whole lot of positive reactions. With the release of their collection they also announced their purpose with the project, stating that they aim to decentralize the anime production process. They aim to support UN SDG goal of planting trees across the world by contributing up to 420,000 trees through their community. They also look forward to removing up to 42,000 pounds of dirt from the ocean through teamseas project. With the number of similar looking projects in the NFT space a frustrating lot, this comes out as one of the most unique collection in the metaverse and we for sure expect a massive influx of copy-cat projects trying to ride its unique similarities as time goes.

The amount of crypto donations through The Giving Block surged to $100 million this year from $4 million in 2020. With the market capitalization of digital currencies surpassing $2 trillion, there is now record interest in crypto philanthropy. From helping to build a school in Uganda to fundraising for frontline healthcare workers and raising awareness for artists with intellectual disabilities, many nonprofit projects are gaining traction with generous assistance from crypto enthusiasts. But the rewards of giving crypto to charities aren’t limited to the feeling of having accomplished an altruistic task. The Internal Revenue Service currently classifies crypto as capital assets, like stocks. That means an investor can deduct the full market value of the cryptocurrency at the time of donation against their ordinary income (i.e., salary) over the period of a few years, while avoiding the capital gains tax altogether. For example, suppose a crypto investor, Elsa, makes $85,000 per year o...

NFT Creator Peace Ojemeh officially announced on her twitter handle that her team will be disclosing their NFT project with an extraordinary art reveal on their discord channel.  They both announced on their page about their experience working on the NFT project and how they are ready to decentralize the film production industry through a gamified DAO voting system and therefore using their series as a stepping stone The team also revealed that they will be announcing their whitelisting process, giveaways and airdrops based on twitter interactions with their fans and community members.

NFTs are more than digital art; they are a ticket into a community of like-minded individuals. Nonfungible tokens (NFTs) may have been a distraction from the COVID-19 pandemic, but now they are all the rage and a very key piece to pop culture. Each NFT exists as a one-of-a-kind asset minted on the blockchain, each being scarce in quantity and often high in value. While these assets may exist as collector’s items for holders to show off, they also act as a ticket into a fun and exciting community, where users can earn real rewards as they interact on an online medium. The thing is, many limit their imagination to only think of an NFT as art when their capabilities extend so much more than that. Like Uber disrupted the ride-sharing service, NFTs are disrupting the online community, each project offering something specific to the industry. The goal of NFT ownership then comes down to finding a project that operates with a mission that resonates with the holder or provides a community that...

"I think the community should very much be trying to bend the arc of development away from injecting artificial, unnecessary scarcity entirely for the benefit of some investor class," said Edward Snowden. National Security Agency whistleblower Edward Snowden said he was concerned with how some privileged individuals or firms in the digital space might be able to use nonfungible tokens, or NFTs, in the gaming industry. Speaking with Ethereum co-founder Gavin Wood at the Block Down DeData online conference on Friday, Snowden said though he had seen some use cases for nonfungible tokens to raise funds for causes, he is concerned with the technology “creeping into gaming.” The whistleblower described certain aspects of the metaverse as “horrible, and heinous, and tragic” for aiming at capitalizing on users’ virtual escapes. “We have people that are trying to [inject] an artificial sense of scarcity into a post-scarcity domain,” said Snowden. “I think the community should very muc...

Industry-disrupting blockchain innovations are believed to accelerate with the removal of technical barriers to NFT minting. NFTs are more than a piece of digital art. They are an asset that exists on the decentralized blockchain. So, how does an asset go from being just art to an NFT? One word. Minting. Minting is the process of digital art taking its place on the blockchain and can be likened to the process a metal coin goes through before it is made available to the public via circulation. Once an NFT becomes minted, it can be purchased and traded in the online market and tracked online as it is sold and later resold, making its way through various collectors. However, while NFTs were created to give artists a new opportunity to distribute their work and allow project owners to create engaged communities, the process of initiating this type of project has proven to be daunting to many. The Idexo team has already made a name for themselves with their solution to simplify the process ...