NFTs

Coke and Pepsi, McDonald's and Burger King, Tide and Gain. In the physical world, there are many competitive pairs. In the digital world (Google, Amazon, eBay, Netflix, etc.), the biggest companies tend to completely own their categories, which raises the question: Can Coinbase's new NFT marketplace find a place alongside category-leading OpenSea, or will one have to completely dominate the other? Continue Reading →

On the morning of January 23, 2022, I saw a tweet about purchasing a Bored Ape NFT for 135 ETH that I assumed was completely fake. It turned out to be fake. But the transaction was absolutely real. How do I know? The Ethereum blockchain is a public ledger. Transactions are viewable by anyone (including you and me), so let's do a little exploring and see who spent $337,500 (1 ETH = $2,500 at the time) to get their Bored Ape. Continue Reading →

Axie Infinity, the world's most popular play-to-earn game, can't catch a break. Two weeks ago, the company was hacked for $625 million, the largest hack in crypto history. Now, it looks like the game's economy is under extreme pressure. Continue Reading →

U.K. Finance Minister Rishi Sunak has asked the Royal Mint to create and issue the NFT “by the summer.” City Minister John Glen announced a number of steps the U.K. will take to bring digital assets under more regulatory scrutiny. Glen says the government wants Britain to “lead the way” in crypto. Continue Reading →

Looking for a Bored Ape but don't have any crypto? No problem… fiat currency is gladly accepted. OpenSea, one of the biggest and most popular NFT marketplaces, will soon let you buy and sell your NFTs with credit cards, debit cards, or Apple Pay. MoonPay, a fintech infrastructure company, will provide the tech. Continue Reading →

I just spent the most wonderful week in Los Angeles speaking, moderating, and partying at NFT|LA, a gathering of Web3 enthusiasts with a special emphasis on NFTs and all things crypto. The organizers did an outstanding job mixing solid content and amazing experiences. I'm sure everyone had an incredible time. I'm also sure the audience was bifurcated into two clearly defined groups: predators and prey. Continue Reading →

I just read Nike Inc. v. StockX LLC, a 50-page complaint filed by Nike demanding that StockX (a used shoe seller) destroy all the Nike-branded NFTs it minted. Someone should tell Nike’s lawyers that an NFT is not an image, video, or audio file, but simply an immutable digital receipt of a transaction that references the location of the associated asset(s). Destroying the receipt has no impact on the intellectual property in question any more than throwing out a receipt from the grocery store has an impact on the items you purchased. Continue Reading →

U.S. government prosecutors have charged two men with fraud and money laundering over a cryptocurrency “rug pull” scheme. Continue Reading →

According to the WSJ, the Financial Accounting Standards Board (FASB) doesn’t have plans to review accounting or disclosure for NFTs. Instead, it will conduct research on how to account for and disclose digital assets that don’t carry ownership rights, such as cryptocurrencies. Continue Reading →

A rock NFT valued at 444 ether (ETH), or $1.2 million, sold for 444 Wei ($0.0012) to a bot as the seller, DinoDealer, confused WEI and ETH. In a tweet, the seller said, "in one click my entire net worth of ~$1 million dollars, gone." Continue Reading →