The U.S. Department of the Treasury released a study on the high-value art market, highlighting the potential in the nonfungible tokens (NFT) space to conduct illicit money laundering or terror financing operations.The treasury’s “Study of the facilitation of money laundering and terror finance through the trade in works of art” suggested that the increasing use of art as an … [Read more...] about US Treasury targets NFTs for potential high-value art money laundering
NFTs
Are NFTs an animal to be regulated? A European approach to decentralization, Part 1
Nonfungible tokens (NFTs) are constantly in the news. NFT platforms are springing up like mushrooms and champions are emerging, such as OpenSea. It is a real platform economy that is emerging, like those in which YouTube or Booking.com gained a foothold. But it is a very young economy — one that is struggling to understand the legal issues that apply to it.Regulators are … [Read more...] about Are NFTs an animal to be regulated? A European approach to decentralization, Part 1
NFTs are ‘Stayin’ Alive’ as new minting trends, AI and music-based projects thrive
In 2020, newly launched NFTs projects experienced costly gas wars that are gas priority auctions where buyers battle to secure their spot on the next block, potentially losing ETH to failed transactions. In 2021 digital scarcity and utility drove the NFT hype in the constantly surging markets and toward the end of the year, how much attention any collection received seemed to … [Read more...] about NFTs are ‘Stayin’ Alive’ as new minting trends, AI and music-based projects thrive
Vitalik Buterin suggests making NFTs ‘soulbound’ like World of Warcraft items
In a blog post published Wednesday, Vitalik Buterin, co-founder of Ethereum (ETH), expressed his wishes to make nonfungible tokens, or NFTs, soulbound as with the namesake item class in popular MMORPG World of Warcraft, or WoW. In outlining his reasons, Buterin explained that if someone shows they own an NFT that is obtainable by doing X, such as attending an auction, it is not … [Read more...] about Vitalik Buterin suggests making NFTs ‘soulbound’ like World of Warcraft items
Kanye West wants royalties from Paparazzi photos, with the help of NFTs
Kanye West expressed his frustration at the paparazzi after being filmed arriving at Miami International Airport on Monday, as seen in a video posted by ET Canada. Kanye can be heard saying to the cameraman:"It's just really one-sided. You guys can follow us, you guys to stand from the hotel at any given time. You don't give us any percentage of what you make off us, off our … [Read more...] about Kanye West wants royalties from Paparazzi photos, with the help of NFTs