NFT

Multimillion-dollar American company Chevron has put forward an application that would allow it to produce and sell virtual products. Chevron's Interest in NFTs  On Tuesday, 2nd March 2022, Chevron filed a series of applications with the United States regulatory body (USPTO). Chevron’s filed patent will allow it to produce and sell digital assets in the form of NFTs. Trademark lawyer Michael Kondoudis took to Twitter to announce the news. The application, if granted, means Chevron can offer products like virtual…

Decentralized finance (DeFI) has grown at an unprecedented rate since the summer of 2020 with its promise to enable anonymous and private financial transactions. The new tech leverages blockchain technology to introduce more efficient and secure, peer-to-peer dealings that eliminate intermediaries from the borrowing and lending process.  The fast-growing sector in the crypto industry now boasts nearly $78 billion locked in multiple protocols, per the latest data from DeFiPulse. The DeFi movement has shown no signs of slowing down over…

Hip-hop legend Snoop Dogg is looking to turn Death Row Records into an NFT label. Like other artists, the California-based rapper delves into blockchain-based applications to fuse music with the new digital age. If all goes well, his NFT could be among the best projects to keep an eye on in 2022. Snoop Dogg announced his enthusiasm regarding NFTs and the Metaverse on the social media platform Clubhouse on February 15: Death Row will be an NFT label. We will…

Ukraine has abandoned its plans to airdrop crypto tokens as a way of rewarding its crypto supporters. The country’s Vice Prime Minister, Mykhailo Fedorov, announced this news via Twitter earlier today. In the same breath, Fedorov disclosed that Ukraine seeks to sell non-fungible tokens (NFTs) to support its Armed Forces. Fedorov’s tweet read, After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the aggression. Instead, we…

Spanish sporting giant, Barcelona FC, has disclosed plans to create its own cryptocurrency. Markedly, Barcelona’s crypto-positive decision comes at a time when it struggles with financial stability. The club’s leaders have also suggested crypto could help the club compete financially with other clubs which are equipped with better TV rights deals, revenue, or investment. Barcelona’s president Joan Laporta first announced the club’s crypto ambitions a few days ago during the recent Mobile World Congress. Laporta noted that the club would…

The clever use of smart contracts has contributed significantly to the exploding popularity of blockchain technology. Computer scientist Nick Szabo proposed a smart contract as a collection of instructions executing automatically. This technology aims to make contract execution as automated as possible. Many know how basic smart contracts work, but finding a guide on their advanced versions is rare. After a basic overview, we will analyze two typical cases of advanced smart contracts. For simplicity, the article will not deal…

Following 4 trademark filings pertaining to NFTs and the metaverse, beverage maker Monster Energy is yet another brand touted to venture into the virtual space. Digital Goods are Prioritized Recently, more companies have begun to leverage the popularity of NFTs. Since last year there has been a marked transition to tokenized product offerings and metaverse-focused services. The goal is to drive up visibility and improve customer interaction. Monster energy’s speculated foray into the NFT and metaverse space could be another…

NFT creators on Solana marketplace Magic Eden will now be subject to stricter procedures. The company announced a new doxing policy for creators who want to drop their collections on the marketplace. This policy would ensure stringent safety and project quality checks that would protect the interest of minters. The recent development unfolds against a backdrop of rug pull scams that saw minters lose thousands of dollars on Magic Eden. Minters lost $58,000 (645 SOL) in the first scam because…

You've undoubtedly heard about non-fungible tokens (NFTs), and you may have many questions. Digital ownership can be challenging to understand, and the market hype must help develop a rational analysis. It's tough to know who to believe when many of the loudest voices are financially engaged in NFTs. In recent times, we have observed a peculiar tendency in the market. Some creators are starting to buy the NFTs they launched, creating skepticism in the industry. Our article will summarize the…