Damien Hirst Faces Allegations of Backdating Thousands of Paintings

British artist Damien Hirst faces allegations of backdating thousands of paintings in his NFT art project, ‘The Currency’. A recent investigation suggests that at least 1,000 of the 10,000 dot paintings were produced years later than the claimed date of 2016.

Launched in 2021, ‘The Currency’ featured 10,000 dot paintings where buyers had to choose between a physical painting or a corresponding NFT, with the unselected option being destroyed. Each painting was inscribed with the date 2016 and Hirst’s signature.

The project sold out quickly, generating nearly $90M and over 5,000 buyers chose physical paintings, while almost 4,000 selected NFTs, resulting in the destruction of its physical counterparts. In October 2022, Hirst and his team publicly burned almost half of the physical collection during an Instagram livestream.

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Cristiano Ronaldo Announces 4th NFT Drop on Binance

Renowned football star Cristiano Ronaldo recently announced the release his fourth collection on Binance’s NFT Marketplace on May 29 at 08:00 UTC, featuring digital art and memorabilia celebrating Ronaldo’s career highlights, including iconic goals and significant moments.

The NFTs will be available exclusively on the Binance NFT Marketplace with fixed pricing across most of the collection, with one rare NFT expected to be highly sought after.

This announcement comes amidst recent legal challenges for Ronaldo related to his endorsement of Binance and its CR7 NFTs.

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Torque Drift 2 Announces Integration of NFTs, Loses Key Members

Grease Monkey Games, the Australia-based studio behind the popular motorsport game Torque Drift, recently shared that they  had faced staff turnover after announcing the integration of blockchain technology into its upcoming sequel, Torque Drift 2.

The move, which includes the use of NFTs, has resulted in the resignation of ten employees within a month, according to an interview with Arran Potter, Founder of Grease Monkey Games. Despite the setbacks, Potter is optimistic about releasing Torque Drift 2 - currently in beta — by the end of the year.

However, the loss of key team members has posed significant challenges

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BlockBar’s Latest Avión Tequila Release — NFTs on the Rocks? 

Pernod Ricard’s Avión is taking a shot in the web3 arena with ‘Lucky Liquid’ — a tasteful blend of tequila and NFTs - on June 3. 

Priced at $495 (0.13 ETH) per bottle, tequila and web3 fanatics are eagerly awaiting this release on BlockBar.com - a renowned marketplace celebrated for its blockchain-authenticated spirits.
Limited to just 100 bottles on a first-come, first-served basis, Avión Lucky Liquid epitomizes the brand’s unmatched depth, character, and exclusivity, reflecting its journey to perfection and innovation.

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OKX NFT Marketplace Now Supports Immutable zkEVM

Yesterday marked a significant milestone as Immutable zkEVM, integrated with the Polygon network, made an announcement: its official support on the OKX marketplace.

OKX and Immutable are on a mission to propel web3 gaming, recently introducing a GameFi NFT launchpad on OKX’s Marketplace and integrating Immutable’s zkEVM chain for scalability and security.

Additionally, OKX’s Web3 Wallet has joined Immutable’s Passport solution, enhancing accessibility for users across both platforms.

Their ultimate aim is to redefine the way millions interact with NFTs and digital assets in gaming, setting a new standard for engagement and ownership in the blockchain gaming sector. 

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STR8FIRE Genesis NFTs Make Their Debut, Sell Out in Seconds

STR8FIRE, an IP and entertainment startup backed by Shima Capital, reached a significant milestone with its debut NFT collection, Genesis NFTs, selling out within seconds on OpenSea and Blur.

Amid challenging market conditions, STR8FIRE’s successful launch of their Genesis NFT collection stood out, demonstrating the project’s strong appeal.

In the first 24 hours of trading, STR8FIRE’s total trading volume hit 8.17 ETH, setting the stage for a forthcoming token launch on centralized exchanges.

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Pudgy Penguins and Mythical Games Reveals New Mobile Game

Mythical Games, the creator behind NFL Rivals and Blankos Block Party is developing a new mobile game featuring the popular Ethereum NFT brand Pudgy Penguins.

The game is slated for release in 2025 and will run on the Mythos Chain, a Polkadot-based gaming network, spearheaded by the studio.

The Pudgy Penguins mobile game will utilize the same game engine as Mythical Games’ Blankos Block Party, adapted for mobile platforms.

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Square Enix Adopts Arbitrum for Symbiogenesis Chapter 2

Square Enix has recently announced the adoption of Ethereum Layer-2 network Arbitrum for its Symbiogenesis NFT character mint scheduled this morning.

The decision comes after the initial minting phase on the Ethereum mainnet. According to an X post from Symbiogenesis, Arbitrum will reduce transaction costs significantly compared to Ethereum’s mainnet for about 1/1000 of the previous cost.

The game previously used Polygon, an Ethereum sidechain, for other in-game NFT assets and it is unclear if Polygon will continue to be used alongside Arbitrum for future assets.

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Animoca Brands Japan Unveils NFT Launchpad ‘SORAH’

Animoca Brands Japan has announced the name of its new NFT launchpad, SORAH by Animoca Brands Japan, and is set to launch in the summer of 2024.

SORAH, named after the Japanese word for sky, aims to support NFT projects by providing opportunities for creators to sell their NFTs while offering various sales methods and loyalty programs.

Further information about these programs will be released at a later date.

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Dapper Labs Settles $4M Class Action Lawsuit Over Top Shot NFTs

Dapper Labs, the company behind NBA Top shot has agreed to a $4 million settlement in a class action lawsuit that alleged its NFTs were unregistered securities.

The lawsuit, which started in 2021, was brought by customers who argued that the NFTs should have been registered under securities laws.

The settlement, disclosed in court documents on Monday, includes payments to the plaintiffs and coverage of their legal fees. As part of the agreement, the plaintiffs will drop any future claims that NBA Top Shot NFTs are securities.

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Sotheby’s to Put Golden Bored Apes Up for Auction

Sotheby’s, the renowned auction house, is set to test the staying power of Bored Ape Yacht Club NFTs, with a curated auction on June 18, 2024. 

The centerpiece of the upcoming “bidding war” is a highly coveted Bored Ape Yacht Club with a distinctive feature – solid-gold fur.

This “2021 relic,” as described by Sotheby’s head of NFTs, boasts a unique history. It was previously owned by Three Arrows Capital (3AC) — a now-bankrupt crypto hedge fund with a significant art collection. 

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Bybit Web3 To Launch Season 2 of Velocity Series NFT Collection

Bybit Web3, the web3 division of top three global crypto exchange ByBit, has announced the upcoming Season 2 launch of their Velocity Series NFT collection.
Building on the success of last year’s collaboration with Oracle Red Bull Racing, Season 2 features a two-part NFT collection created by renowned data artist Kjetil Golid.

Emily Bao, Bybit Web3 Evangelist, states: “We’re excited to partner with Kjetil Golid, whose unique blend of art and data perfectly captures the essence of Formula 1 racing. Velocity Series Season 2 promises a thrilling experience for collectors and racing enthusiasts alike.”

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Grimace NFT holders get special perks in McDonalds Metaverse

McDonald’s Singapore has ventured into the metaverse with its new digital environment, “My Happy Place.” This initiative, developed in collaboration with Bandwagon Labs, is accessible through the official McDonald’s app. It offers a unique blend of virtual and real-world experiences, with special benefits for the 2023 Grimace NFT’s holders.

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AI Gaming Platform Anomaly Mint Out Genesis Passport NFT Collection

Anomaly, an AI-powered blockchain gaming platform, saw its Genesis Passport NFTs mint out within seconds on June 6.

The collection of 888 free-to-mint NFTs were all claimed during the initial ‘guaranteed whitelist phase’, with the total trading volume on platforms such as OpenSea and Blur exceeding 20 ETH just four hours post-mint. At the time of writing, the current floor price sits at 0.03 ETH.

Backed by venture funds such as Shima Capital and Decasonic, this Genesis Passport collection intends to support Anomaly Games’ upcoming nodes campaign.

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Tune.FM and Jam Galaxy Enhances Music Creation and Monetization

Tune.FM, a decentralized music streaming platform and NFT marketplace, has announced a partnership with Jam Galaxy, a web3 music studio and collaborative audio protocol, to integrate advanced tools for music creation, artist monetization, and fan engagement on Tune.FM’s platform.

Jam Galaxy supports real-time, low-latency collaboration through its DePIN infrastructure and provides AI tools for music creation and fan interaction while Tune.FM uses Hedera Hashgraph blockchain technology to provide higher royalty payments to artists compared to traditional streaming services.

Tune.FM allows artists to sell music, release NFT drops, and offer multimedia content directly to fans. The platform also includes options for fan experiences like merchandise bundles, meet-and-greets, and VIP events.

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McDonald’s Launches Metaverse, Offers Perks for Grimace NFT Owners

McDonald’s has introduced a metaverse experience called “My Happy Place” for its customers in Singapore, offering various interactive activities and rewards, particularly for holders of Grimace NFTs. This initiative follows McDonald’s Hong Kong’s 2023 launch of McNuggets Land in The Sandbox.

Developed in partnership with Bandwagon Labs, this virtual world is accessible through the McDonald’s Singapore app, “My Happy Place” uses Bandwagon’s BW.LAND technology.

Within this 3D environment, users can play the Build-A-Burger game, design future McDonald’s restaurants, and take part in daily contests via the Wheel of Deals, which provides real-life food deals and prizes.

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Romanian Football Federation Joins FIFA Collect NFT Platform

The Romanian Football Federation (FRF) has become the first national football association to partner with the Modexand FIFA Collect platform, marking a notable development in the digital sports collectibles sector.

FIFA Collect, created by FIFA in partnership with Modex, allows users to buy, sell, and trade digital football collectibles while utilizing blockchain technology to ensure the authenticity and uniqueness of each NFT.

Fans worldwide can access a variety of digital items, including moments, players, and teams.

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South Korea Introduces Guidelines for NFTs as Virtual Assets

South Korea’s financial regulators have introduced new guidelines for NFTs in preparation for the upcoming Virtual Asset User Protection Act, effective July 19.

This update marks a reclassification of NFTs, which were previously not considered virtual assets in South Korea.

The updated guidance specifies conditions under which NFTs will be categorized as virtual assets.

While standard NFTs primarily traded for their collectible value will remain outside the virtual asset framework, those with dual characteristics will undergo closer scrutiny and may be classified as securities or virtual assets based on their inherent features.

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Web3 Card Battler ‘Parallel’ Launches on Epic Games Store

Ethereum-based card game Parallel has launched on the Epic Games Store, and aims to expand its reach to a broader audience.

The launch aims to take advantage of the Epic Games Store’s user base, which had 270 million users at the end of 2023, including 75 million active monthly players.

The studio, which raised $35 millions in funding in March had launched Parallel’s Planetfall Expansion earlier this year, and now anticipates increased visibility and player engagement from this move.

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Wu-Tang Clan’s Exclusive ‘Shaolin’ Album Now Available for $1

The Wu-Tang Clan‘s album “Once Upon a Time in Shaolin” is now partially accessible to the public via encrypted NFTs. PleasrDAO, the current rights holder, has released a five-minute sampler of the album, priced at $1.

The sampler, available on The Album, features previously unheard verses from Ghostface Killah, Raekwon, and Redman, along with snippets from several tracks of the 31-track, two-disc album.
Although the $1 purchase includes the entire album, only excerpts are currently accessible.

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