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🆕 BACKPACK’S $17 MILLION SERIES A FUNDING UNLOCKS NEW WEB3 POTENTIAL

🔗 The Backpack ecosystem, known for the Backpack wallet, the Mad Lads NFT collection, and Backpack Exchange, has successfully closed its first joint $17 million Series A funding round. This strategic investment round, led by Placeholder VC, values the conglomerate at a substantial $120 million. 
The funding attracted a diverse group of strategic investors, among them Hashed, Robot Ventures, Amber Group, Wintermute Ventures, Selini Capital, Delphi Digital, and notable founders from leading Web3 ecosystems such as Solana, Tensor, and Galxe, among many others.

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🆕 Bitcoin NFTs Surge in Weekly Sales, Outpacing Ethereum

🔥 Bitcoin NFTs have surged into the spotlight, boasting remarkable sales figures that have outpaced Ethereum in the past week. The sudden spike in Bitcoin nonfungible token (NFT) sales, mainly fueled by collections like NodeMonkes, has propelled Bitcoin ahead of Ethereum in weekly sales volume.

👀 According to data from CryptoSlam, Bitcoin NFT sales skyrocketed by 80% week-over-week to an impressive $168.5 million, surpassing Ethereum’s $162 million in sales. This surge was primarily driven by the emergence of Bitcoin Ordinals-based collections, with three of the top five best-selling NFT collections for the week being Bitcoin Ordinals-based.

🌐 NodeMonkes, a collection of 10,000 unique pixelated profile pictures (PFP)-style Ordinals, emerged as a significant player in this resurgence. With over $41 million in sales, NodeMonkes experienced a nearly 170% increase from the previous week, solidifying its position as a top contender in the Bitcoin NFT space.

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🆕 Alien CryptoPunk NFT Fetches $16 Million in Ethereum Sale

👀 A rare Alien CryptoPunk NFT, CryptoPunk #3100, has captured attention after selling for a staggering 4,500 Ethereum (ETH), equivalent to $16,032,959. This sale marks the second-highest price ever fetched by a CryptoPunk NFT, showcasing the unique allure of these digital assets. An anonymous bidder, operating through a newly created wallet, clinched the deal around 2:30 pm UTC on March 4, following several days of intense bidding. Initially, the bidder had offered 4,250 ETH, worth $14.78 million at the time, before increasing their bid to the final amount of 4,500 ETH.

🔥 CryptoPunk #3100 stands out as one of the mere 10,000 CryptoPunks available, distinguished not only by its rare Alien attribute but also by sporting a headband, an adornment shared with only 405 other CryptoPunks. Its value is significantly enhanced by its rarity as one of only nine Alien CryptoPunks, making it a coveted piece among collectors.

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🆕 Coachella Teams Up with OpenSea to Debut Music Festival-Themed NFTs with Real-World Perks

🔥 The Coachella Valley Music and Arts Festival, a pivotal event in the global music scene, has embarked on a novel partnership with OpenSea, the leading nonfungible token (NFT) marketplace. This collaboration marks a significant shift towards integrating digital assets with tangible festival experiences. Coachella is renowned for its eclectic mix of music, attracting over 645,000 attendees, and now, it aims to enhance the attendee experience through the introduction of three unique NFT collections.

🌐 Set against the backdrop of a diverse music lineup and celebrity presence, the 2024 edition of Coachella is poised to redefine festival engagement. These NFTs will serve as digital keys, unlocking exclusive on-site experiences, merchandise, and VIP access for holders. The innovation lead for Coachella, Sam Schoonover, emphasized the transformative potential of NFTs in crafting unique customer experiences that blend the digital with the physical realm.

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🆕 NodeMonkes Bitcoin NFT Fetches $1M Amid Surge Towards $69K BTC Milestone

✨ The digital art world witnessed a remarkable event as a NodeMonke, part of a Bitcoin-based NFT collection, sold for over $1 million, signaling a significant interest shift towards Bitcoin’s blockchain for NFT transactions. This sale occurred amidst a broader rally in Bitcoin prices, which are nearing the $69,000 mark, highlighting the growing market adoption of Bitcoin for digital collectibles.

🔈 In the past 24 hours, Bitcoin NFT collections outperformed Ethereum-based collections in trading volume, amassing $35 million compared to Ethereum’s $22 million. This surge underscores the rising demand for Bitcoin-based assets over the traditionally dominant Ethereum platform.

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🆕 Yuga Labs Showcases ‘Otherside’ Metaverse, Leaving Users Divided

🔒 Yuga Labs, the creative force behind the Bored Ape Yacht Club NFT collection, has unveiled a test version of its Otherside Metaverse. This immersive digital realm aims to empower users to craft their adventures with minimal hand-holding from developers. However, early explorers have emerged with conflicting impressions.

💥 Some, like white-house.eth and jpegflippa expressed disappointment, likening the experience to a proof of concept rather than a fully realized endeavor. Conversely, ThePilot.x lauded the venture, praising its graphics and attention to detail, which captivated both themselves and their children.

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🆕 GEONFT MINTING MADE SIMPLE WITH LOST WORLDS’ NEW CREATION PORTAL

🔍 Lost Worlds, a location-based NFT platform, has introduced a new Creation Portal that simplifies creating and deploying geographically-linked digital collectibles, known as geoNFTs. This update has a clear goal: to open up geoNFT creation to the masses. The new portal makes participation easier for a wide range of users, from individuals to large-scale enterprises. These users can now engage with the platform’s offerings, which resemble those of ‘Pokemon Go’, across various blockchains.

🛡 The introduction of the Creation Portal marks a departure from the previous system, where crafting and launching geoNFTs necessitated direct interaction with the Lost Worlds team. Now, the portal opens up the ecosystem, allowing a broader audience to create geoNFTs tied to specific real-world locations without dealing with technical barriers. Supported by Ava Labs, this move is a step towards fulfilling Lost Worlds’ goal of directly connecting digital assets and physical experiences with their geoNFTs.

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🆕 META SPOTLIGHTS 2024’S TECH TRANSFORMATION: METAVERSE, AI, AND MOBILE MESSAGING

🛡 In 2024, Meta has pinpointed three pivotal areas for technological transformation and growth within the Metaverse and beyond: the Metaverse‘s ongoing evolution, the emergence of on-device Large Language Models (LLMs), and the new wave of mobile messaging. These sectors represent the forefront of Meta’s vision for a digitally integrated future.

🔥 Meta has reported advancements within the Metaverse, particularly emphasizing its growing applications in the fitness, wellness, and education sectors. “While the hype cycle has moved on from the metaverse to AI, we remain committed to both,” the company stated in its blog post.

🌐 Furthermore, Meta’s launch of “Caddy” has made strides in enhancing computer-aided design (CAD). It allows for collaborative 3D modelling across distances and makes the technology accessible to a wider audience. Caddy provides the capability to view 3D models in cross-section, create straightforward drawings, and measure both digital and physical objects.

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🆕 SONY EXPLORES NEW GAMING HORIZON WITH ‘SUPER-FUNGIBLE TOKENS’

🔒 Sony could be venturing into uncharted territory with a patent application, which hints at the development of super-fungible tokens. This innovative application, published on February 29th, 2024, could represent a shift in the gaming industry’s approach to digital assets, potentially altering how players own and engage with game content.

🔗 At the core of Sony’s patent is the concept of super-fungible tokens, designed to transform in-game transactions and interactions. According to the patent details, these tokens could enable players to purchase and even transfer game assets across different games. The patent describes a super-fungible token as a unified package comprising several non-fungible tokens. Attached to these NFTs are diverse gaming assets.

🛡 Specific currencies and limited transferability typically constrain traditional in-game purchases. According to the patent, Sony is developing a method and electronic device for super-fungible tokens for the gaming industry. This system would enable the tracking of gaming assets tied to a player within a game. 

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🆕 BLOCKGAMES LAUNCHES BLOCK TOKEN THROUGH AIRDROP FARMING CAMPAIGN

💎 One recent trend that has gained momentum in the Web3 space is the use of airdrops as a means to launch a token and attract users. Portal, a popular gaming platform, recently made headlines when it successfully launched its token through an airdrop farming campaign. Now, following in Portal’s footsteps, BlockGames is launching its own BLOCK token using a similar strategy. 

🔥 Airdrops refer to the distribution of free tokens or coins to a large number of individuals. This method is often used as a marketing strategy to attract users and create buzz around a new token or platform. Airdrop farming campaigns take this one step further by incentivizing individuals to actively promote the platform in order to earn more tokens.

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🆕 UK GOVERNMENT EXPLORES IP LANDSCAPE IN THE METAVERSE

💎 The metaverse is a rapidly expanding virtual space that has captured the attention of individuals, businesses, and governments worldwide. With its potential to revolutionise how we interact, work, and play in this virtual environment, it is no surprise that countries are taking notice of this emerging technology. In particular, the UK government has analysed the metaverse’s intellectual property landscape, highlighting IP and trademark applications for this digital frontier.

🌐 The UK government’s report reveals a surge in metaverse-related patent filings, with 71,738 international patent families (IPFs) identified as of June 30, 2021. IPFs are patent applications filed in at least two different countries. This surge indicates the growing interest and investment in metaverse technologies, with a notable increase observed from 2015 to 2018. The United States leads in the number of IPFs, showcasing its pioneering role in this digital landscape, while Japan holds second place.

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🆕 US Government Report: IP Infringement Common in NFTs, Yet New Legislation Deemed Unnecessary

🌐 This initiative represents a strategic fusion of technology and entertainment, signaling the U.S. government has released a comprehensive report addressing the rampant issue of intellectual property (IP) infringement within the burgeoning realm of nonfungible tokens (NFTs). Contrary to calls for new legislation, the U.S. Patent and Trademark Office, in collaboration with the Copyright Office, asserts that existing laws adequately encompass emerging technologies like NFTs.

🔗 Released on March 12, the joint study delves into the intricacies of IP law and its implications for NFTs. Despite acknowledging the prevalence of piracy and trademark misuse on NFT marketplaces, the report highlights that the current legal framework encompasses such challenges.

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🆕 Tensor Foundation Reveals Blueprint for TNSR Token in Solana NFT Marketplace

🔥 The Tensor Foundation, newly established to support the Solana NFT marketplace Tensor, has unveiled its strategy for the TNSR token, aiming to shape the governance of the platform as it looks towards a future propelled by non-fungible tokens (NFTs). Launched in 2022, Tensor has emerged as a significant player in the Solana NFT ecosystem, competing vigorously with platforms like Magic Eden for dominance in the market. Presently, Tensor commands a substantial 33.49% of the NFT market share, as per data from NFT explorer Tiexo, within Solana’s overarching 62.16% share.

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🆕 Indian Railways Introduces NFT Train Tickets for Enhanced Travel Experience

🌐 In a bid to revolutionize the travel experience, the Indian Railway Catering and Tourism Corporation (IRCTC) has announced the rollout of Non-Fungible Token (NFT) train tickets for passengers boarding two newly inaugurated semi-high-speed trains. Commencing from March 20th to April 2nd, coinciding with the vibrant Hindu festival of Holi, travelers aboard the Tejas Express 82501 and 82502, bound for Delhi, will be among the first beneficiaries of this innovative initiative.

👀 This innovative move aims not only to modernize ticketing systems but also to celebrate the cultural vibrancy of Indian cities like Lucknow and Delhi. The utilization of NFTs signifies a significant departure from conventional ticketing methods, as these digital tokens promise to offer a personalized and secure journey experience for passengers.

🆕 SuperRare Dives into Bitcoin Ordinals, Introducing ‘No Brainers’ NFT Collection

🔥 SuperRare, a prominent nonfungible token (NFT) marketplace, has broadened its horizons by delving into the realm of Bitcoin Ordinals, a move aimed at catering to the evolving needs of its artist community. This strategic expansion comes in collaboration with Gamma, a Bitcoin-based art platform, reflecting SuperRare’s commitment to embracing multichain operations.

👀 Initially confined to Ethereum blockchain transactions, SuperRare’s foray into Bitcoin NFTs underscores its responsiveness to the growing demand among artists for alternative blockchain avenues. Zack Yanger, Senior Vice President of SuperRare Labs, emphasized the allure of Bitcoin Ordinals for artists, citing its potential for enhanced liquidity within the digital art market.

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🆕 NFPrompt, Backed by Binance, Reveals Losses to Hackers in Security Breach

🌐 Binance-backed platform NFPrompt has fallen victim to a hacking incident, resulting in significant losses of user funds and portions of the platform’s treasury. The breach, disclosed on March 15, exposed vulnerabilities that allowed hackers to infiltrate wallets and gain control over funds, including those from NFP’s treasury and ecosystem fund. Additionally, the hackers targeted wallets belonging to NFP’s contract administrators.

👀 In response to the attack, NFPrompt swiftly took action by transferring all smart contract ownerships to new addresses to mitigate further risks. Assuring users, the platform declared that NFP tokens and assets on NFPrompt are now secure.

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🆕 NodeMonkes Market Cap Surpasses Bored Ape NFTs Amid Bitcoin Ordinals Surge

🔥 Bitcoin Ordinals project NodeMonkes has surged past the renowned Bored Ape Yacht Club in terms of market capitalization, marking a significant milestone in the realm of non-fungible tokens (NFTs). As per data from Magic Eden, NodeMonkes boasts a market capitalization of 7,300 BTC, equivalent to approximately $490 million, while the Bored Ape Yacht Club’s market cap sits at 136,500 ETH, roughly $483 million, according to NFT Price Floor.

🔗 Although Ethereum-based collections have regained their lead for now, the competition remains tight, with a mere $30 million separating the market caps of these two prominent NFT collections.

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🆕 Square Enix Ventures into Web3 and NFT Gaming with HyperPlay Investment

🔗 Square Enix, the renowned Japanese tech giant behind beloved gaming franchises like Final Fantasy and Kingdom Hearts, has made a strategic move into the realm of Web3 and blockchain technology. Partnering with HyperPlay, a crypto-native gaming platform, Square Enix has invested an undisclosed sum to bolster the development and expansion of HyperPlay’s game store. This collaboration marks Square Enix’s latest endeavor to embrace emergent technologies. The investment will fuel the growth of HyperPlay’s platform, which is aimed at revolutionizing game distribution and fostering innovative business models that are advantageous to developers.

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🆕 BlackRock Gains Memecoins and NFTs Following $100M USDC On-chain Deposit

🔥 BlackRock, the financial behemoth with a portfolio exceeding $10 trillion, recently ventured into the dynamic world of digital assets in a manner that’s catching everyone’s attention. Following a substantial $100 million deposit into Ethereum, the firm’s associated wallet began receiving an eclectic mix of digital assets, including memecoins and NFTs, marking a bold stride into cryptocurrency tokenization.

👀 Observers took note as the wallet, tied to BlackRock’s pioneering tokenization fund, saw inflows of diverse assets. This included the Bitcoin-based Ordinals Pepe coin and the CryptoDickbutts S3 NFT, alongside 500,000 unshETHing_Token and 10,000 Realio Network tokens, cumulatively valued at over $25,000. Particularly notable was the surge in the Realio Network token, which jumped 47% post-transfer, showcasing the market’s reaction to BlackRock’s involvement.

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🆕 Magmic Unveils New MLB-licensed Idle Tycoon Game with Web3 Integration

🔥 Magmic, a renowned mobile gaming firm, has taken a significant step into the future of gaming by announcing a new venture at the Game Developers Conference in San Francisco. The company revealed its plans for a mobile and browser-based game under the Major League Baseball (MLB) license, marking a significant expansion into Web3, NFTs, and blockchain-based gaming. This innovative project promises to blend traditional gaming with the latest in digital asset technology.

👀 The yet-to-be-named game falls into the “idle tycoon” genre, allowing players to craft and evolve their own baseball stadium experiences. Notably, the game has secured both MLB and MLB Players Association licenses, underscoring its authentic engagement with the baseball world. According to Magmic CEO Mo Agha, the game will enable players to build their dream MLB ballparks and engage in player trading, enhancing the strategic depth of the gameplay.

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🆕 March Sees Another $16M Sale in the CryptoPunks NFT Collection

🔥 In the bustling world of digital art and cryptocurrency, the CryptoPunks collection once again makes headlines with a monumental sale. This March, CryptoPunk #7804 fetched a staggering 4,850 ETH, which translated to approximately $16.4 million at the point of transaction. This sale not only underscores the vibrant activity in the NFT marketplace but also marks it as the second-largest price ever paid for a CryptoPunk piece.

🌐 Earlier in the same month, another piece from the collection, CryptoPunk #3100, was sold for 4,500 ETH, rounding up to about $16 million. This places it as the third-highest sale within the collection, just after the sale of #7804. These two significant transactions have propelled CryptoPunks back into the spotlight, highlighting the enduring value and appeal of these digital collectibles.