NFT artist sues X for suspending account, wrecking business
Binance Smart Chain’s ‘biggest’ NFT artist is suing Elon Musk’s X Corp after the social media giant suspended his accounts, allegedly ignoring its own policy and costing him his livelihood.
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Non-fungible token (NFT) sales increased by 10.95% this week compared to the previous week, marking the second consecutive week of gains. Despite a 76.7% drop in the number of buyers, blockchain-issued digital collectibles achieved $141.73 million in sales.
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According to Juan Otero, CEO of the crypto-native travel booking platform Travala, many mainstream companies that attempted to use non-fungible tokens (NFTs) for customer or user loyalty programs may have seized the opportunity prematurely. Otero argued that at the time, Web3 companies had not “even figured out the best ways to use NFTs in loyalty programs.”
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From cute pictures of chubby penguins, the Pudgy Penguin brand has grown into a full-fledged ecosystem with soft toys and its own game.
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Ethereum-oriented NFT collectibles like Pudgy Penguins and Bored Ape Yacht Club, have been on a downward swing since Blur farmers have aired their opinions.
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Decentralized derivatives protocol SynFutures has announced plans to expand its market share and is considering a Coinbase Layer-2 network as its platform.
The venture will enable its commitment to support emerging meme coin projects with incentives available for the best performers.