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When a $70 million NFT sold at Christie’s last spring—a time before Bored Apes, Cool Cats, and Lazy Lions roamed the earth—some scoffed at the fortune spent on computer pixels that could be copy-pasted to your screen for free. But the lot wasn’t just a jpeg, it was the jpeg—and the money went to claim the original work, or the one we would call “authentic.” Take away that distinction, and yes, the file is worthless. advertisement advertisement It’s a high-stakes game that’s rife with fraud, abuse, and theft, and not even the biggest players are immune. But OpenSea, the planet’s largest NFT marketplace, might have a few tricks up its sleeve. This morning, it’s rolling out two products to safeguard the authenticity of collections on its platform. The first streamlines the verification of creator accounts, and the second banishes copymints, or spoofs of existing NFTs, using image recognition. Verified badges are among OpenSea’s so-called … [Read more...] about OpenSea is on a new quest to ban copymints, armed with AI, Twitter threads, and Discord chats

Share to Twitter Share to Linkedin Blockchain infrastructure provider Fireblocks has launched a suite of developer tools and a portal for customers to access cryptocurrency exchanges, NFT marketplaces and other decentralized applications across multiple networks. Revealed exclusively to Forbes , the features are part of the company’s new offering called Web3 engine, which also includes custody services, treasury management, risk mitigation tools and a tokenization mechanism for managing the whitelisting, minting, burning and transfer of NFTs. Additionally, it gives institutions access to platforms like OpenSea, Rarible, Uniswap and dYdX directly from the Fireblocks console. The company has already onboarded a few high-profile clients for the service. Among them are Animoca Brands, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius and Utopia Labs. “The goal is to essentially bring all the security arsenal and capabilities that we've … [Read more...] about Beyond Crypto Custody: Fireblocks Unveils Web3 Engine To Support DeFi, Games And NFTs

(Image Source: Shutterstock) Web3 gaming could provide potentially better monetisation opportunities for game developers in India, the country's top gaming founders said in a panel discussion on May 5. Web3 is dubbed to be the next iteration of the Internet, which will be decentralised and run on blockchain. "Monetisation on games has been a challenge in the India market, even in a freemium model, except for a few top grossing games. The in-app purchase (IAP) conversions has been low and eCPMs (effective cost per thousand impressions) have been fairly low. I think web3 is providing a completely different set of monetization opportunities with potentially higher ARPU (average revenue per user)" said Nazara Technologies founder Nitish Mittersain in the panel discussion held at IGDC Blockchain Gaming Summit in Bengaluru. Apart from Mittersain, the panel consisted of Mobile Premier League co-founder Sai Srinivas and JetSynthesys founder Rajan Navani. It was moderated by … [Read more...] about Web3 gaming could provide better monetisation opportunities, say top Indian gaming founders

You may have a rough idea of what an NFT is: a virtual document that conveys some ownership of a virtual good. As with their cousins, cryptocurrencies, NFTs have the potential to be quite valuable: If you bought the right NFT—say, a CryptoPunks or BoredApeYachtClub cartoon—at the right time, you could have made a fortune. advertisement advertisement With the recent crash of the crypto market , it appears that NFTs were just a bubble gone bust . While true on some level, that doesn’t mean the tech has no utility. In fact, the role of NFTs will balloon as they expand beyond a high-stakes investment product into a tool for establishing identity, ownership, and even community. What is an NFT, anyway? A non-fungible token (NFT for short) is essentially a digital certificate of authenticity and ownership. It’s the same concept as a paper certificate that says, for instance, that an antique you bought is genuine or that a painting is a real Picasso … [Read more...] about NFTs are still worth something—just not what you think