LimeWire was once the most popular music-sharing service that attracted over 50 million users monthly before being shut down in 2011 over legal issues concerning the music industry.  LimeWire Re-Launches in NFT Marketplace Now, LimeWire is set to make a comeback on a new crypto sphere platform. Launching in May 2022, with no affiliation to the original team, the new company plans to offer artists an opportunity to gain revenue with their music.  Brother Paul and Julian Zehetmayr said, “We are initially launching a music-focused marketplace, so the brand (name) was really the perfect fit for that with its legacy.”  The two brothers named their company after the original name, LimeWire GmBH. LimeWire has been planning to make a crypto-centered comeback and has joined the trending bandwagon – NFTs (non-fungible tokens).  Objective of LimeWire LimeWire is primarily focusing on artists in the music industry, who can sell pre-release music, graphical artwork, exclusive versions, digital merchandise, etc. LimeWire allows fans and collectors alike to purchase, sell, trade a variety of music-related digital assets. The brothers concluded,  “LimeWire laid the foundation for music streaming; it’s a piece of internet legacy and we are thankful that we can turn it around at something for the music industry.”  

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Parler, the right-leaning social media app has announced the launch of its new Solana NFT marketplace, DeepRedSky. Donald Trump and the CryptoTRUMP NFT Club DeepRedSky’s first NFT collection is the Official CryptoTRUMP Club featuring the 45th President of the United States, Donald Trump. The limited-edition collection comprises 10,000 CryptoTRUMP, including 250 extremely rare NFTs, priced at $2,750 each. The collection depicts a graphical representation of a tuxedoed Trump holding a Diet Coke; cowboy Trump in a broad-rim hat with a gun belt slung around his shoulder; and a besuited Trump on a beach with a piratical eye patch covering his left eye among others. Commenting on the development, CEO of Parler, George Farmer, said: “The development of DeepRedSky is an essential next step toward the company’s mission to be a frontrunner in Web3 technologies. As promised, Parler is launching its inaugural NFT marketplace that will become the new standard in premium branded NFTs.” Promoting Free Speech and Protection Parler is a social media platform that claims to protect against the ‘authoritarian powers of Big Tech, Big Government, and cancel culture.’ Comprising 16 million users, the platform uses the First Amendment of the U.S. Constitution as a guide, allowing people to speak freely without fear of being suspended or labeled ‘dangerous’ and banned. DeepRedSky is the latest Solana NFT project Parler has been involved with, the previous featuring former First Lady of the United States and wife of Donald Trump, Melania Trump.

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The concept of NFTs has taken the world by storm. Some upcoming NFT trends have the potential to change the way we experience the web, brand products, art, music, etc. With this thought in mind, Cooper Turley, also known as, Coopahtroopa took to Twitter to share his opinions.  On the early morning of March 2, 2022, Cooopahtroopa tweeted a prediction of the trend of music NFTs going viral. Music NFTs are on the cusp of their viral moment. — Coopahtroopa.eth 🔥,🔥 (@Cooopahtroopa) March 2, 2022 Coopahtroopa is a full-time DAO operator who learned about the capabilities of the Ethereum blockchain that can help the music industry and also assist artists in taking control over their own music. Through the use of smart contracts that can help expedite royalty payments directly to creators.  One user in support of the tweet also added that while the music NFTs are bound to expand, more artists need to come onboard. According to them, the next big step should be to end the barriers between artists and NFTs.

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In light of the Ukraine crisis, major crypto exchange firms including Binance and Kraken have responded to the pleas to freeze Russian users’ crypto addresses.  Ukraine’s Plea to Crypto Exchange Firms On February 27, Mykhailo Federov – Vice Prime Minister of Ukraine took to Twitter to urge crypto exchanges to freeze the crypto addresses of Russians. The request came days after both U.S and EU decided to remove Russian banks out of SWIFT and freeze overseas assets of Russia’s Central Bank. I'm asking all major crypto exchanges to block addresses of Russian users. It's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users. — Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022 Fedorov continued tweeting about firms freezing accounts of Russian and Belarusian users. One such startup, DMarket specializes in NFT and virtual in-game items in Metaverse was praised by Fedorov for the same.  Received breaking news. @dmarket, a platform for trading NFT & In-game Metaverse items, decided to freeze the accounts of users from the Russian Federation and Belarus. Funds from these accounts could be donated to the war effort. Nowadays Robin Hoods. Bravo. — Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022 Crypto Exchanges Response to Ukraine Jesse Powell, CEO of Kraken stated in response to Ukraine’s plea that although the sentiment is duly respected, they cannot block Russian users. Cryptocurrency exchange Binance also voiced similar opinions.  Early morning on February 28, Jesse Powell tweeted about declining the request set by Ukraine. However, he stated,  “Russians should be aware that such a requirement could be imminent.” 1/6 I understand the rationale for this request but, despite my deep respect for the Ukrainian people, @krakenfx cannot freeze the accounts of our Russian clients without a legal requirement to do so. Russians should be aware that such a requirement could be imminent. #NYKNYC https://t.co/bMRrJzgF8N — Jesse Powell (@jespow) February 28, 2022 In the same thread, Jesse Powell also mentioned the objective of Kraken. According to Powell, Kraken FX wishes to bridge individual humans out of the legacy financial system and urge them to look forward to the crypto world.  “Where arbitrary lines on maps no longer matter, where they don’t worry about being caught in broad, indiscriminate wealth confiscation.” Although Binance stated that there are no plans of blocking user accounts, they do wish to take action against users blacklisted by the West. Binance also wants to minimize the impact on innocent users. Furthermore, Binance guarantees to comply with sanctions imposed by the international community. 

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The multinational e-commerce corporation based out of America, eBay aims to become the significant marketplace for millennials. Recently, eBay has been studying the possibilities to add a mode of payment. The CEO of eBay Inc., Jamie Iannone claimed that they might announce the decision on March 10.  “We are just completing our transition to managing payments where we are now managing $85 billion of volume on our platform directly. This gives us the ability to open up new forms of payment.” The news has been buzzing with the emergency and adoption of cryptocurrency in various industries. The introduction of digital wallets has opened doors to conduct businesses seamlessly.  As it is a known fact that cryptocurrency can be converted into local currency, accepting this form of payment can earn advantageous benefits for retailers. Cryptocurrency and e-commerce go hand-in-hand as they both appeal to a digitally-savvy user.  “We opened up Google Pay and Apple Pay. We have a partnership with Afterpay in Australia. And so we continue to evaluate other forms of payments that we should take on the platform.” Jamie Iannone also states that they do not currently accept cryptocurrency payments. However, he continues,  “On March 10, we are going to go deeper on all of these things – payments, advertisements, our focus categories.” Remembering a thing from the past, Iannone further says that years ago people on eBay had started selling cars even though the firm did not have a vehicle business then. A similar occurrence with respect to NFT made Iannone observe that transactions related to NFTs had also started occurring on eBay.  Although the firm did not announce so, the team did enforce policies in 2021 to trade NFT on the platform and several users started trading NFT on the e-commerce platform. In conclusion, Jamie Iannone states, “eBay will be the place where people will trade goods, whether physical or digital. [Thereby] over time, you know, we want this [eBay] to be the marketplace for sustainability. 

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Pitched as the ‘first AAA quality game of the NFT space,’ the play-to-earn open-world role-playing game can allow users to purchase NFT Pixelmon for astonishing prices. Recently, the developer launched a demo video of the game built on Unity Engine. A user cannot trade, battle, or capture any of the Pixelmon. However, they can purchase the Pixelmon and run around! The concept of the game sounds interesting and the monsters in the game are interactive NFTs. The project was launched in a Dutch auction starting at 3 ETH and was sold out in less than an hour. The project gained around $80 million in a span of an hour.  However, it soon became a laughing stock in the NFT space. Pixelmon’s 3D NFTs, according to the buyers, are atrocious. Purchasers have taken to Twitter to share their losses upon finding that their Pixelmons do not look good at all.   The NFT game’s founder Syber apologized to purchasers for their mistake. He explained that due to the enormous funding, the team was pushed to reveal the artwork that wasn’t ready. Syber assures purchasers that their team is pledging $2 million of the funds to redesign and remodel their NFTs with higher quality.  Early morning today, a Twitter handle by the name ‘zachxbt’ shared a tweet,  So @Pixelmon raised over $70m at 3 ETH per mint just for them to reveal like this. I think it’s fair to say all the buyers were rugged. Stop supporting cash grab NFT projects. pic.twitter.com/8VShQxNlgl — zachxbt (@zachxbt) February 26, 2022 Yet another fraudulent NFT project brought users together to share a trending sentiment of scams that one must become wary of. Video game digital distribution service, Steam’s founder Gabe Newell stated that they do not entertain NFTs and blockchain technology. In his opinion, these projects are “involved in a lot of criminal activity.” Pixelmon seems to be a good example of what Newell claimed. 

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The National Football League (NFL) has announced that the organization plans to give its fans virtual commemorative tickets in the form of non-fungible tokens (NFTs) for those who attend the upcoming Super Bowl LVI in Los Angeles. The NFT giveaway comes through a partnership with the world’s largest ticket marketplace Ticketmaster where each NFT will be unique to each attendee, with the section, row, and seat from their real ticket. Hosted on the Polygon (MATIC) blockchain, the digital tokens will be released once per day beginning on Feb. 6 and ending on Feb 13 with new club-specific NFTs for the Los Angeles Rams and Cincinnati Bengals released on Feb. 2. In addition to the NFL’s virtual commemorative NFT tickets, the American football league also plans to launch a series of seven historic commemorative NFTs highlighting the past Super Bowls hosted in the city of Los Angeles. Commenting on the development, Senior VP of Club Business Development for the NFL Bobby Gallo stated: “Collecting ticket stubs has always been something our fans love to do, especially for the season’s biggest game, and offering customized Super Bowl NFTs allows us to enhance the gameday experience, while also enabling us to further evaluate the NFT space for future ticketing and event engagement opportunities” Sports NFTs are a Movement This is not the first time the American football organization attempted at utilizing NFTs where tickets are concerned. Back in November 2021, the NFL distributed a total of 250,000 NFTs to fans who purchased their tickets for select games through SeatGeek, StubHub, or Ticketmaster. Earlier last year, the league also formed a partnership with blockchain firm Dapper Labs to create NFL All Day, which is similar in nature to the NBA Top Shot. The NFL’s commemorative tickets are similar to Coachella’s recent NFT tickets except they act as lifetime tickets to the festival. In October 2020, FTX crypto exchange purchased an ad for the Super Bowl. Similarly, Canadian crypto exchange BitBuy also booked a commercial during the big game with Miami Heat guard Kyle Lowry.

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World-renowned 3D artist Gal Yosef is launching an upcoming Meta Eagle Club NFT collection in collaboration with an internationally acclaimed art gallery known for its curation of high artworks Eden Gallery. Yosef is a well-known 3D artist in the NFT community who has been behind the Crypto Bulls Society collection, which sold out almost immediately after its release and grossed over $50 million in primary sales and market auctions. He has also collaborated with Justin Bieber, DJ Steve Aoki to create a one-of-a-kind NFT which got sold for a whopping $214,000 at Sotheby’s. Meta Eagle Club is Gal Yosef’s premiere installment of a series of his own collections featuring a digital art world named Galyverse. The initial collection includes 12,000 captivating eagle avatars. “I was searching for a character that could help portray a charismatic avatar, but also one that’s warm and inspiring to others. Depicted as a symbol of freedom in so many different cultures, Eagles, out of the entire animal kingdom, also represent the strong and brave-hearted. Working on the wings and feathers allowed me to soar and explore new heights in 3D art,” Yosef said in a statement. Merging NFT, Art, Community The Meta Eagle Club aims to merge upscale art with community building, exclusive physical gallery events, and an evolving artistic vision. The collection also supports NFT collectors by bringing physical artwork to Eagle avatar owners that was made possible with Eden Gallery and its NFT studio RNSNC. Collectors will enjoy additional benefits like VIP flights around the world and additional aviation-related experiences.

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Julian Lennon, John Lennon’s eldest son, is selling some of the most valuable items of music history from his collection. Some of the most sought-after items from music history are up for auction, including John Lennon’s coat from the film “Magical Mystery Tour,” his cape from “Help!,” three guitars, and Paul McCartney’s handwritten arrangement notes for “Hey Jude.” The “Lennon Connection: The NFT Collection” NFT series, in conjunction with NFT marketplace YellowHeart and Julien’s Auctions, began for bidding on Monday and will begin on February 7. The White Feather Foundation will get a percentage of the proceeds from the NFT auction. Julian would keep the tangible things, but the buyer would be the owner of the rights to the one-of-a-kind NFT. Each NFT in the collection would be available as an audio-visual collectible, with Julian Lennon himself narrating. The handwritten note by Paul McCartney for Hey Jude is thought to be the most remarkable piece that is expected to draw the highest bid. The item’s NFT starts at $30,000 and goes up from there. Other Beatles Memorabilia Earlier Fetched Millions of Dollars Julien’s Auctions has sold other Beatles items in the past, bringing in millions of dollars. One of John Lennon’s acoustic guitars was sold for $2.4 million, while Ringo Starr’s drum kit was sold for $2.2 million and the drum head Ringo used on the “Ed Sullivan Show” in 1964 was sold for $2.1 million. NFTs are the newest crypto fad, and many believe they will disrupt the art business. NFTs have become the latest trend in the art world, with mainstream artists and celebrities abandoning traditional auctions in favor of NFTs.

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Meta’s main social media companies Facebook and Instagram are reportedly planning to let users display and trade non-fungible tokens (NFTs). According to a Financial Times report, the social media giant behind Facebook and Instagram is currently working on prototypes that will allow users to mint collectible tokens. Additional plans include launching a marketplace that allows the buying and selling of NFTs. However, the report did not specify which blockchain network Meta would use for the marketplace. It should be noted that Meta’s NFT efforts are still in their infancy phase, meaning that the mentioned features are unlikely to launch anytime soon. Should it go into fruition, Meta’s reported foray into NFTs could be a major catalyst for mass adoption and help popularize the use of the burgeoning digital assets industry. Just recently, leading NFT marketplace Opensea surpassed $3.5 billion in monthly transaction volume, indicating that over $169 million are being spent each day in NFT trading just within the platform. So far, the NFT market has had a total of $25 billion in all-time sales. In December, Instagram CEO Adam Mosseri hinted that the company was ‘actively exploring NFTs,’ but provided no further details. However, the media sharing platform is now internally testing its NFT showcasing feature, according to people familiar with the matter. The Instagram NFTs project was started last year by Kristin George, Instagram’s director of product and creators, and David Marcus, the former head of Facebook’s payments and crypto arm, leaving the company in December. Replacing Marcus, Stephane Kasriel, the former CEO of Upwork took his place. Facebook initially made its intention to delve into the crypto space in June 2019 when it announced the launching of a Libra stablecoin, along with Novi crypto wallet. Since then, the project has had a rocky journey and has been rebranded to Diem and it’s still yet to launch.

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Twitter today has rolled out a new feature that allows users to show off their original non-fungible tokens (NFTs) on their profile picture, powered by NFT marketplace OpenSea’s API. The feature is currently only available to Twitter Blue subscribers on iOS through Android and web users will be able to view the NFTs. “Once authenticated, the NFT will be displayed as a soft hexagon across all surfaces where your avatar is visible. When people tap on it, they can learn more about the art, its collection, provenance and more,” said Twitter in describing the new feature. 1/ Attn Twitter fam! Today we’re excited to see @Twitter launch their new NFT Profile Pictures feature, powered by OpenSea's API https://t.co/7eYyctWGWZ — OpenSea (@opensea) January 20, 2022 Twitter noted that it only supports static JPEG and PNG NFTs minted on the Ethereum blockchain. The crypto wallets that are currently supported are Argent, Coinbase Wallet, Ledger Live, MetaMask, Rainbow, and Trust Wallet. Users who come across the NFTs will be able to tap on the profile picture to learn more about the art, its collection, provenance, and more. For instance, one can see if a project or collection has been verified by OpenSea or another third-party marketplace. The rollout of the new NFT profile pictures is limited for now as the feature is only available to Twitter Blue subscribers using the iOS app in the United States, Canada, Australia, and New Zealand.  While Twitter users on any platform will be able to see the new avatars. The company is limiting the release to Blue subscribers for now in part to obtain feedback about the NFT feature and add updates accordingly.

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Ethereum’s dominance in non-fungible tokens (NFTs) is declining due to high gas fees and excessive congestion, investment banking giant JPMorgan said in a report. In a note published last week, analysts led by Nikolaos Panigirtzoglou even highlighted that Ethereum’s NFT market share has already dropped to 80% from 95% at the beginning of 2021. The blockchain network could be specifically losing its NFT market share to rival Solana, which has been gaining massive traction over the last year. The bank cautioned that if Ethereum’s loss of NFT market share continues this year, it could be a bigger problem for its overall valuation. Another area of Ethereum’s falling dominance is in the decentralized finance (DeFi) sector. Last week, in a note to clients, analysts Nikolaos Panigirtzoglou, wrote: “It looks like, similar to DeFi apps, congestion and high gas fees has been inducing NFT applications to use other blockchains.” Scaling is also required to maintain its dominance in the DeFi sector. According to the strategists, the final phase of the sharding won’t happen before 2023. With sharding being critical for scaling, this means full-blown scaling is at least a year away. In that period, the Ethereum Mainnet risks continued losses of market share to competing networks like Binance Smart Chain, Terra, Fantom, Avalanche, Tron, Polygon including Solana as they have been gaining the biggest share of the DeFi market. These blockchains have already attracted a lot of funding and increased their own user base. The bank noted that by the time sharding of Ethereum is implemented, other ecosystems will grow so extensively that activity won’t return to Ethereum.

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