NFT
Magic Eden Expands To Arbitrum With New Gaming NFT Collection
Magic Eden will soon be minting Ubisoft’s upcoming 10,000-piece NFT collection on the Ethereum scaling network Arbitrum to give holders early access to the new game.
Minted on the Ethereum layer-2 scaling network Arbitrum, the new Niji Warrior ID NFTs unlock early access to the top-down shooter, enable participation in the game’s governance model and track player progress.
Magic Eden, Ubisoft Team Up for Captain Laserhawk NFT Launch
According to the official press release, this deal marks Arbitrum’s addition to the Magic Eden NFT marketplace, which had already supported projects from Solana, Bitcoin, Ethereum, Polygon, and Base in the past.
Among the top NFT marketplaces, Magic Eden will be instrumental in serving up distribution and management of NFTs for Captain Laserhawk: The G.A.M.E. It is a leading force in cross-chain compatibility and backs projects with innovative gameplay, further building influence in Web3 gaming.
With the partnership, Magic Eden injects several years of experience in NFT ecosystems into this new agreement with Ubisoft and Arbitrum, offering players a secure and user-friendly way to manage digital assets. The deal also heats up gaming experiences and solidifies the status of Magic Eden as one of the leading driving forces in the fast-changing NFT gaming sector.
The partnership also points toward the modern trend in the adoption of layer-2 solutions for NFT projects, all-inclusive of better scalability and interoperability within the Ethereum ecosystem. Such infrastructure will enable smoother and easier gaming, reaching a wider audience both for game developers and gamers alike.
The name of the game is Captain Laserhawk: The G.A.M.E., and it’s set in a dystopian world inspired by Netflix’s series Captain Laserhawk. The title will also feature various iconic characters from other Ubisoft franchises.
Ubisoft’s Captain Laserhawk: The G.A.M.E. was described at the time as “a transmedia experience” on the foundation of Arbitrum. Holders will be granted Web3 governance over determining the narrative for the game. The game itself comes along with an imminent mint for their Niji Warrior ID NFTs.
Ubisoft maintains that one of the main benefits with NFTs is that holders will have extraordinary voting rights over major governance decisions and, in fact, give the community the power to shape the future of the game.
Ubisoft’s NFTs Coming Soon: Only 10,000 Will Exist
These NFTs are play-to-earn, unlocking rewards for a unique opportunity to be fully involved in the active creation of new content, thus transforming players into co-creators of game development.
This move signifies one of the most major steps Ubisoft has ever taken towards including blockchain and NFTs in gaming. An initiative of this nature by Ubisoft precisely fits into the company’s vision: to offer more immersive experiences through decentralized platforms and increase player engagement.
This new Magic Eden-Ubisoft partnership comes off the heels of a closed beta, which was held in August. Still, hardly any footage has surfaced online because participants reportedly had NDAs. These were preventing them from sharing any details about the game. From the few clips that managed to find their way onto Twitter, the game looks colorful and quick-paced. There are also plenty of tight choke points around which players fight it out.
However, the highly-coveted collection of 10,000 NFTs will be minted in the coming weeks. At the same time, many future minters have secured spots for participation in the beta and completed challenges in Discord. The ID mint represents the final milestone on the road map before the game launches, meaning Captain Laserhawk: The G.A.M.E. is not very far away.
The title represents Ubisoft’s second major blockchain game after its partnership with Magic Eden, aside from Champions Tactics: Grimoria Chronicles. The latter is on the Oasys network but has also similarly minted NFTs on Ethereum. Recently, Champions Tactics conducted a sort of “technical beta” testing ahead of its public launch, which is expected very soon.
The publisher known for titles like Assassin’s Creed and Just Dance has been developing and investing in the crypto space for years. In late 2021, they launched in-game NFTs for their Ghost Recon: Breakpoint game on the Tezos blockchain.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
NFT
Digital Chamber Supports New NFT Legislation Amid Gary Gensler Criticism
The introduction of the New Frontiers in Technology Act (NFT Act) by Congressman Timmons has garnered support from Digital Chamber. This legislative effort marks the first direct address by the US Congress towards the regulatory treatment of non-fungible tokens (NFTs). This is a pivotal moment for the digital asset industry amidst ongoing legal challenges.
Digital Chamber Supports New NFT Act
Following the recent introduction of the NFT Act, Digital Chamber has quickly aligned itself in favor of the proposed legislation. Digital Chamber praised Congressman Timmons’ leadership for spearheading this critical initiative, which seeks to clarify the classification of NFTs amidst increasing legal scrutiny of digital assets.
The Act addresses a variety of use cases for NFTs, ensuring they are treated as consumer goods rather than financial products. This distinction could influence the future regulatory landscape for NFTs.
Additionally, The NFT Act lays a foundational definition of non-fungible tokens and provides protections for what it describes as “covered” NFTs. These include digital works of art, collectibles, and other forms of intellectual property, distinguishing them from financial instruments.
Concurrently, the Act mandates that the Comptroller General of the United States conduct a study on non-fungible digital assets. This study aims to assess the evolving landscape and implications of NFTs.
The legislative clarity will be a step toward safeguarding creators and consumers from the regulatory actions that have recently targeted the industry.
NFT Legal Challenges and Regulatory Scrutiny
The need for the New Frontiers in Technology Act has been underscored by a series of high-profile legal challenges facing the industry. Companies like Dapper Labs and DraftKings have faced lawsuits, with OpenSea receiving a Wells notice from the SEC, signaling potential securities violations.
Additionally, the SEC’s recent actions against Flyfish Club for unregistered NFT sales have provoked criticism from within the agency itself, with Commissioners Peirce and Uyeda dissenting from the decision. They argue that such tokens should not automatically be classified as securities based on their potential for resale at higher values.
The broader digital asset community, including Digital Chamber, has voiced concerns over SEC Chair Gary Gensler’s aggressive regulatory stance. More so, Digital Chamber founder, Perianne Boring, expressed her dissatisfaction with Gary stating,
“SEC Chair Gary Gensler’s unlawful crackdown on #crypto has pushed the industry back by a decade.”
In addition, these accusations of unlawful crackdowns on the crypto and NFT sectors by the SEC chair have led many to speculate about Gensler’s dismissal. Incidents like the recent amendment of original complaint against Binance, further fuel debates over the need for clearer guidelines.
Moreover, these developments come amid reports that all five SEC commissioners will testify before the House Financial Services Committee, an event not seen since 2019. The hearing may include discussions on ETH’s classification as a security.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
NFT
Sales Slide Nearly 8% Amidst Buyer Plunge
The most expensive NFT market sale this week was Cryptopunk #9368, which sold for $1.27 million five days ago. Solana’s Boogle #025 followed, fetching $143,070 three days ago, while BNB’s Paraluni Perpetual Bond sold for $129,337 five days ago. Despite declining sales and reduced activity, top-tier collections are still managing to stand out in an evolving market.
Guild of Guardians, Luxemarathoner Surge Amid Fluctuations
Over the past seven days, the NFT market has seen notable shifts in sales, with CryptoPunks leading the pack. The iconic pixelated collection, now owned by Yuga Labs tapped Coinbase strategy for ApeChain products launch, generated $5 million in sales, experiencing a slight 0.15% increase compared to the previous week.
Following close behind was the Guild of Guardians series, which brought in $3.3 million, up 1.69%. Luxemarathoner, a collection based on Binance’s BNB Chain, posted $2.6 million in sales, showing an impressive 472% surge. Meanwhile, Bored Ape Yacht Club (BAYC) saw a 7.98% increase, totaling $2.4 million in sales, while DogeZuki, despite pulling in $2 million, experienced a 23% drop in sales.
Despite these fluctuations, the overall NFT market continues to face challenges, having suffered a 36.6% decline in July and a 40.36% drop in August 2024. However, there are optimistic forecasts for a potential recovery before the year ends. According to on-chain analytics firm Statista, the NFT market is projected to reach over $683.9 million in revenue in 2024, though the annual growth rate is expected to decrease by -11.01%. This suggests that while the market remains volatile, opportunities for growth and resurgence are still on the horizon.
NFT
Solana-Based Slerf Voting Now Live for NFT Owners
Solana-based Slerf voting is now live for NFT holders, marking a step in the project’s governance. NFT owners can now influence the project’s future direction by submitting proposals via Discord. This new system aims to foster greater community involvement and decision-making power among participants.
Solana-Based Slerf Voting Now Live
According to an announcement on X, Solana meme coin Slerf has officially launched its decentralized voting system, allowing NFT holders to vote on critical proposals. Each NFT represents one vote, empowering holders with a direct say in the future of the project.
Voting is now live for Slerf DAO.
1 NFT = 1 VoteNFT holders now have power in the direction of $SLERF.
Submit proposals via discord.
Proposals with community support will be taken to a vote live on our website.https://t.co/h8mDGSaBFj— Slerf (@Slerfsol) August 17, 2024
Proposals can be submitted through the project’s Discord channel, with those gaining community support being put to a formal vote on the official website. This move towards decentralized governance will increase transparency and participation within the community.
Community Participation Through Proposals
The Slerf DAO’s voting system is designed to give NFT holders a voice in the project’s direction. Members can submit their proposals on Discord, where they can gather support from the community. Once a proposal gains enough backing, it will be taken to a vote on their website.
This approach is expected to foster an engaged and active community, allowing participants to influence decisions directly. It also adds a layer of accountability, as the community’s interests will be reflected in the proposals that move forward to the voting stage.
Exclusive Minting of NFTs on OKX
Adding to its recent developments, Slerf announced that its non-fungible tokens would be available for exclusive minting on the OKX multi-chain NFT Marketplace. The minting period started with whitelist holders gaining early access. Additionally, the broader community could mint NFTs for 5 SOL during the public sale window.
SLERF price is currently trading at $0.1472, reflecting a 3% decrease over the past 24 hours. The coin’s market capitalization is $73,575,838, with a 24-hour trading volume of $13,122,686.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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