Author: WebDesk

Magic Eden, a leading NFT marketplace, has launched its $ME token airdrop, an initiative aimed at decentralizing the platform’s governance and fostering greater community involvement. The airdrop is part of the company’s broader strategy to revolutionize the NFT ecosystem through an innovative tokenomics model that empowers users and incentivizes active participation. This guide dives into the key aspects of the airdrop, the tokenomics behind $ME, and what this development means for the future of decentralized marketplaces. Today’s the day you’ve been waiting for. $ME is here.Don’t guess — Watch this video below and learn how to claim in mere minutes.You…

The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different once regulations are set in place. The Russian government is expected to collect up to 1 trillion rubles ($13 billion) in crypto tax each year, as per an estimation by the authorities. The Bell, a local Russian publication, reportedly got its hands on the government analytic note that estimated the yearly tax revenue. According to the letter’s authors, Russians hold 12% or nearly $214 billion in crypto. The number of users on foreign exchanges is estimated to be…

The Kazakh government is considering a three-pronged proposal designed to make crypto miners pay much more for operating in the country, which could make Kazakhstan less attractive to the industry. On Feb. 4, Kazakhstan’s First Vice Minister of Finance, Marat Sultangaziyev, proposed a price increase from $0.0023 per Kwh to $0.01 (around a 335% increase) specifically for crypto miners. He also proposed a tax on each individual graphics card (GPU) and each piece of equipment needed for crypto mining. He likened the tax-per-video card to the way casinos are taxed for each table they run, whether or not the table is active.…

It’s a Bird, It’s a Plane, No, it’s Galaxy Heroes. A superhero-based gaming and Non-Fungible Token (NFT) protocol built on Binance Smart Chain (BSC), has debut their Galaxy Heroes Coin‘s NFT marketplace where it opens up access for everyone who wants to mint and sell their NFTs. Brian Sumner, Founder and CEO of Galaxy Heroes, said: “Over 100 Heroes from the collection were listed within a few days of the Marketplace’s launching, ranging between 1–100 BNB. Just days after the NFT marketplace launched, the second GHC collection of villains was released, selling out the 2500 mint collection in less than…

“We’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto,” said team lead Tess Rinearson. Social media giant Twitter is expanding further into the crypto space by setting up a team to look into decentralized applications, cryptocurrencies and blockchain. According to a Wednesday tweet, Interchain Foundation council member Tess Rinearson will be leading a team at the social media company aimed at cryptocurrencies, blockchain and decentralized technology. Rinearson said her team would be working with Twitter’s Bluesky project on a decentralized social media platform as well as “exploring how ideas from…

New research by analytics platform DappRadar has revealed the extent to which decentralized finance (DeFi) and nonfungible token (NFT) markets have grown this year. In its Thursday “Value Flow Report,” DappRadar reported that recent trends have seen sizable growth in NFTs and blockchain gaming but that DeFi is also still generating substantial value.“Although the value flows to some extent from DeFi to NFTs, it appears that both categories are generating value independently.” DappRadar currently reports a total value locked of $114.8 billion, which is an increase of 936% since the same time last year. The report added that the industry’s total…

Crypto businesses are seeking access to the US Federal Reserve’s (FED) payments systems that legacy finance institutions use to move money around swiftly. However, in a bid to protect their privileged position in the US financial system, banks are protesting against providing crypto companies with such access. Some of the major crypto firms that aim to gain a foothold in these payment systems include digital asset-focused bank Avanti Bank and crypto exchange Kraken, as reported by The Wall Street Journal. The companies say that gaining direct access to the systems would provide them with faster and cheaper ways to process orders from their customers. Currently, such…

The Singaporean edition of international luxury fashion magazine Vogue is bringing non-fungible tokens (NFTs) to high-end fashion, featuring a QR code in its September issue that enables access to two digital covers created by fashion designers, which are available as NFTs. The first NFT cover that is featured in Vogue Singapore’s September edition, which arrived on newsstands on August 25, is ‘The RenaiXance Rising’ by digital fashion house The Fabricant in partnership with Singaporean artist Shavonne Wong. “This programmable NFT changes in posture and lighting according to the live time in Singapore,” the magazine said. Cover 2 of 2: ‘The RenaiXance Rising’ by…

The government of Cuba has announced it will recognize cryptocurrencies and regulate their use for payments on the Caribbean island. A resolution published in the Official Gazette said that the Banco Central de Cuba (BCC), the country’s central bank, will develop a set of rules for crypto, and define how to license providers of related services in the Cuban market. The BCC can authorize the use of cryptocurrencies “for reasons of socio-economic interest, may authorize the use of certain virtual assets in commercial transactions, and grant a license to virtual asset service providers for operations related to financial, exchange, and collection activities or…

CryptoPunks, digital collectibles created by Larva Labs, have a high ‘whale’ concentration share, with 10 wallets owing 1,410 digital assets, but the collection’s robust market capitalization of USD 3.1bn makes it less prone to manipulation, according to a report released by data aggregator and analysis firm DappRadar. As part of its research into non-fungible tokens (NFTs) and cryptocurrency whales, a term used to describe individuals or entities that hold significant amounts of crypto or crypto assets, DappRadar is employing a method based on on-chain indicators for the NFT space, the whale concentration index. The index measures how diluted or concentrated a given collection is,…