nft market – pressnews

Bored Ape’s New Boss Seeks to Revive NFTs Through Gaming, Events

28Apr

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Technology

Bored Ape’s New Boss Seeks to Revive NFTs Through Gaming, Events

[ad_1] Yuga Labs Inc. helped popularize nonfungible tokens with its Bored Ape Yacht Club collection, first introduced two years ago. The cartoon illustrations of slack-jawed primates, decorated with various accessories and expressions, sold for millions of dollars at the peak of the NFT frenzy last year. Now the bloom is firmly off the NFT rose, as it is with most things linked to cryptocurrencies these days. But for Daniel Alegre, the former Activision Blizzard Inc. executive who joined Yuga as chief executive officer last month, NFTs still have a bright future by serving as a room key to a world of gaming, events and e-commerce. The company, whose 100 employees all work remotely, began its expansion into video games last year, developing time-limited titles such as Dookey Dash and in...

Bored Ape NFTs Sale Scores Former Junk Bond Traders 700% Profit

24Feb

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Technology

Bored Ape NFTs Sale Scores Former Junk Bond Traders 700% Profit

[ad_1] Former Barclays Plc bond traders Ovie Faruq and Mike Anderson have sold a collection of iconic digital art that triggered their departure from banking and their pursuit of careers in nonfungible tokens. Faruq and Anderson sold 72 Bored Ape Yacht Club NFTs for between 78.08 and 78.18 Ether each this week, which translates to roughly $9.25 million, according to transactions recorded on NFT marketplace OpenSea. Faruq said the initial investment was around $1.14 million, which would make for at least 700% profit. NFTs, digital art that typically uses the Ethereum blockchain and is bought and sold with cryptocurrency Ether, saw their value soar in early 2022 during the height of crypto mania before a sharp selloff. However, this year's rally in risky assets has seen Bitcoin rise...

Cryptoverse: Punk apes and a resurrection of NFTs

15Feb

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Technology

Cryptoverse: Punk apes and a resurrection of NFTs

[ad_1] It's alive! The NFT market is twitching out of its torpor, defying reports of its demise.Total NFT sales on the ethereum blockchain - which hosts most trading - jumped to $780.2 million in January from $546.9 million the month before, according to market tracker CryptoSlam. Digital art collectibles were among the big hits. "Bored Ape Yacht Club #5840" - a cartoon monkey shooting green lasers from its eyes - went for $822,730, for example, while "CryptoPunks #7674" - a pixelated character smoking a pipe - fetched $433,555. The average NFT sale price was a more modest $372.38, according to CryptoSlam.The $780 million of sales seen last month is a fraction of the roughly $5 billion seen last January and $2.7 billion in May, before the market took a non-fungible nosedive along with ...

Ledger has a message for NFT haters: Eventually you’ll be dead

4Nov

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Technology

Ledger has a message for NFT haters: Eventually you’ll be dead

[ad_1] The chief experience officer at the crypto hardware wallet firm Ledger has a message for NFT haters: Eventually you’ll be dead. The chief experience officer at the crypto hardware wallet firm Ledger has a message for NFT haters: Eventually you'll be dead. Ian Rogers says that the concept of nonfungible tokens makes sense to a younger generation – those who spend hours glued to screens, live online, and attended school virtually at the height of the pandemic. “It's not a foreign concept,” he told us in the most recent episode of “Crypto IRL.” Emily Yang, the artist known as pplpleasr, sees NFTs as a reflection of society and that they will be collectibles the way vinyl albums once were. NFT skeptics, though, urge caution. John Reed Stark, a former SEC enforcement attorne...

Five charged in France over ‘Bored Ape’ NFT theft

13Oct

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Technology

Five charged in France over ‘Bored Ape’ NFT theft

[ad_1] Five people were charged in France Wednesday on suspicion of fraudulently acquiring $2.5 million of valuable NFTs. Five people were charged in France Wednesday on suspicion of fraudulently acquiring $2.5 million of valuable NFTs, digital certificates of ownership for artworks that can be traded online, Paris prosecutors said.Charges against the five young adult suspects over the theft include fraud committed as part of a criminal gang, concealing fraud and criminal association. Prosecutors believe the group fraudulently acquired control of the NFTs -- an acronym for "non-fungible token" -- between late 2021 and early 2022. They include several of the cartoon monkey portraits dubbed "Bored Apes" that are among the best-known and most sought-after digital art assets.A report earl...