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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...

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...

NFT Bargain-Hunting Is in as Crypto Bust Craters Prices

[ad_1] NFT sales plunged 67% sequentially in the third quarter as speculators and celebrities made an exodus. A year ago, Daniel Maegaard, one of the higher-profile collectors of nonfungible tokens, was spending tens of thousands of dollars on CryptoPunks featuring funky-looking people or apes. In the last few months, he's been buying NFTs that typically sell for less than $2,000. The shift is indicative of the metamorphosis taking place in the market for the once-coveted digital images promoted by the likes of Justin Bieber and Madonna. NFT sales plunged 67% sequentially in the third quarter as speculators and celebrities made an exodus, leaving the sector mostly to the dedicated long-term believers in the various potential use cases, and collectors betting that the plunge in pric...