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NFTs
Non-Fungible Tokens (NFTs) are unique digital assets verified using blockchain technology, primarily on platforms like Ethereum. Unlike cryptocurrencies, NFTs are indivisible and cannot be exchanged on a one-to-one basis, ensuring each NFT is distinct and irreplaceable, much like a physical collectible. They have gained prominence in digital art, music, gaming, and other online communities for enabling proof of ownership and authenticity of digital creations. NFTs can represent anything from artwork and music to videos and tweets.
Time’s NFT Launch Sends Gas Fees Spiraling
Time magazine launched a new NFT collection dubbed "TIMEPieces" Thursday, offering "unlimited access" to its website through 2023. All 4,676 tokens, each priced at 0.1 ETH tied to digital artworks, were sold in minutes. But the sale also clogged the Ethereum blockchain, with buyers spending almost four times as much on transaction fees as they did on the NFTs themselves. "The Hash" hosts react, discussing the implications for a historic American institution getting involved in the NFT space.
Twitter to Add Bitcoin Lightning Tips, NFT Authentication
“The Hash” team discusses CEO Jack Dorsey’s continued infatuation with crypto as part of a larger push to monetize content creators and bring blockchain awareness to the mainstream. Twitter users on Apple’s iOS can now connect third-party tipping services to their profile, including the ability to link both Bitcoin and Lightning Network addresses.
Philadelphia 76ers President on Crypto Ad Patch Deal With Crypto.com
The Philadelphia 76ers of the National Basketball Association (NBA) announced Wednesday that Crypto.com's logo would be emblazoned on all team uniforms starting this season. The Sixers join the Portland Trail Blazers, which inked a deal with crypto e-commerce site StormX earlier this year. 76ers President Chris Heck shares insights into the partnership, including its connection to NBA Top Shot's NFT deal, its players' involvement in the process, and the potential impact of crypto on sports.
Venture Capital Names Jump in on NFTs, Crypto Investors Brush Off Evergrande
Well-known venture capital names validate NFT space. Crypto investors brush off Evergrande’s concerns. Korean lawmaker reveals crypto exchange data ahead of the September 24 deadline. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
Dfinity Foundation’s Internet Computer Blockchain Brings Smart-Contract Capabilities to Bitcoin Network
Blockchain company Dfinity’s Internet Computer Protocol (ICP) is integrating with bitcoin to enable smart contracts on BTC. Following a community vote to upgrade the network, it will allow developers to let their creativity run wild in developing all manner of Web 3.0 services, already seen on Ethereum from DeFi to NFTs.
Dapper Labs Said to Reach $7.6B Valuation in $250M Funding Round
The company behind NBA Top Shot and the Flow blockchain, Dapper Labs, has closed a $250 million funding round to an estimated $7.6 billion valuation. Coatue led the raise, including Andreessen Horowitz, Google’s GV (formerly Google Ventures), and Version One Ventures.
Recur Raises $50M, Largest Series A Round in NFT Space
Recur, a platform that lets users buy, collect, and resell NFTs, has raised $50 million to a total valuation of $333 million after a Series A funding round led by Digital, a metaverse investment platform backed by billionaire Steve Cohen’s family office. Co-founders and co-CEOs Zach Bruch and Trevor George discuss how they secured the funds and what they will use them for, including launching a new NFT college sports platform, NFTU. Plus, insights into NFT investment risks amid the booming NFT market.
European Football NFT Platform Sorare Raises $680M Series B
European fantasy soccer and digital collectible platform Sorare announced a $680 million Series B raise Tuesday, the largest ever in the non-fungible token (NFT) space, valuing the company at $4.3 billion. “The Hash” crew discusses the evolving NFT market as it continues to collide with global sports and the lucrative European soccer space.
Solana-Based Metaverse Gaming Platform Star Atlas Closes $2M in Public Token Sale
Blockchain-based metaverse gaming platform Star Atlas has closed $2 million in a public token sale, adding to the $41 million in sales it has already raised in NFTs. These NFTs and native Atlas tokens will be issued in Star Atlas’ play-to-earn gaming platform.