Tech News & Articles

NFT Inspect launched a new Chrome browser extension for tracking NFTs used as Twitter profile pictures, according to a report from CoinDesk. 

The Deets

• Twitter NFT Search tool: provides users the ability to analyze how an NFT is used on Twitter, either as a profile picture or shared tweet.
• Wallet address analysis: the tool can crawl through publicly-available blockchain data to reveal how any NFT in a wallet is used.
• Rarity traits display: the extension can present unique characteristics of individual NFTs.
• Recognized blockchains: Ethereum, Polygon, and Solana.

The Bulk

This NFT Inspect Chrome extension offers real-time data on popular NFT collections frequently used as PFPs on Twitter. 

The Twitter NFT Search tool, which is also available in beta as a web version, lets users explore the different ways an NFT appears on Twitter. This includes its use as a profile picture or as a tweet. Moreover, the tool can analyze wallet addresses, display rarity traits, and is available for Ethereum, Polygon and Solana blockchains.

❗Why It Matters

In a market so impacted by "community strength," the ability to monitor social presence and activity on web3's most active social platform (Twitter) presents an interesting set of data and metrics to follow as the market matures and more data is available. Thus far though, the social data seemingly has little impact on the price of assets. 

🎤Founder Feedback

🔜What's Next?

In the future, we may see NFT Inspect expanding their tool to recognize other blockchains and support a wider range of file types, further enhancing its functionality and user experience.

🧠 Learn More

• NFT Inspect Unveils 2.0 
• Franklin Joins NFT Inspect Council

Magic Eden now permits the self-inscription of names of select domains on its Bitcoin platform. 

The Deets

• Inscription process: Navigate to Wallet -> Inscribe Ordinals -> Start Inscribing
• 1.5% of total inscription fees will be donated to the Ordinals Protocol team
• Domains available for trade include .sats, .magic, .btc, .xbt, .gm, and more
• The project is still in the experimental phase; users are advised to DYOR and cross verify data

The Bulk

In a bid to grow and cater to the increasing demands of Bitcoin blcokchain functionality Magic Eden unlocked the capability for users to inscribe names on enabled domains. This new feature brings a layer of customization and personal ownership to users' digital assets.

To start the inscription process, users need to navigate to their Wallet, then to the 'Inscribe Ordinals' option and begin the inscription. Notably, a contribution of 1.5% from the total inscription fee will be directed towards the Ordinals Protocol team to support their continued efforts.

Numerous domain names like .sats, .magic, .btc, .xbt, .gm, among others, are now available for trading on their respective collection pages. However, Magic Eden stresses that the project is still in the experimental phase and advises users to conduct their own research and cross verify data before investing.

❗Why It Matters

Web3 wants to participate on Bitcoin, and Magic Eden is among those leading the charge at making it safer, easier, and cheaper. It's unlikely that an "ENS bubble" will grow like it did on ETH, but nevertheless, domains are available for inscribing on Bitcoin. 

🎬 Take Action 

Users can start inscribing or purchasing names on the secondary market on Magic Eden's Bitcoin platform. 

Blur is updating its Bidding Points system to penalize tactics that do not genuinely contribute to the platform's growth.

The Deets

• Transferring NFTs for loyalty: Counterproductive, as it decreases actual loyalty
• Wash trading: No longer rewarded with points
• Spoofing bids: Easy to detect and cheaters will be excluded from Season 2

The Bulk

Blur announced an update to its Bidding Points system. The revised system now works to ensure that rewards will go to users who genuinely contribute to Blur's growth, discouraging manipulative tactics that fail to provide real value.

The first discouraged tactic is transferring NFTs for loyalty. While loyalty is a key component for Blur's upcoming Season 2, transferring NFTs to list on other marketplaces is seen as detrimental to platform loyalty. Although this activity might not be immediately reflected in the user interface, Blur tracks these transfers in the backend and decreases the transferrer's loyalty accordingly.

Secondly, the practice of wash trading—where bots are used to inflate trading volume and increase the visibility of a collection—will no longer be rewarded with points. Blur has affirmed that wash traders will be filtered out in Season 2.

Lastly, Blur will take a strict stance against bid spoofing. Some bots create fake bids that cannot be accepted, then attempt to front run bid acceptance to earn points without risk. Blur has clarified that such behavior is easy to detect on-chain, and those who cheat will be excluded from Season 2.

Blur's update is not all about penalties, though. The platform still rewards top collections with the most points, but has made changes to distribute points more evenly across all collections.

❗️Why It Matters

Blur's bid system and rewards are undoubtedly the leading force con NFT market and floor prices. While many have bemoaned Blur's impact on the NFT market, at least the marketplace is attempting to make changes in the best interest of all participants. 

🎤 Community Quotes 

Frank DeGods teased a few details of the upcoming v0.1 of de[id], a platform offering unique wallet authentication, Twitter integration, and enhanced Web3 profiles from DeGod's founding company, Dust Labs. 

The Deets

• de[id] + Wallet: Offers authentication for ETH, Polygon & BTC, with wallet delegation to minimize security risks
• de[id] + Twitter: Connect your Twitter account for streamlined interactions with DeGods & y00ts NFT communities
• de[id] v1.0 (coming soon): Promises a more user-centric web3 profile environment

The Bulk

Dust Labs has unveiled the v0.1 of de[id], a cutting-edge platform designed to reshape how users interact with the Web3 ecosystem. The platform's functionality can be broken down into three key areas: wallet, Twitter, and user profiles.

In the realm of wallets, de[id] brings an advanced level of authentication for Ethereum, Polygon, and Bitcoin, providing a much-needed feature in an industry plagued by security concerns. Furthermore, it introduces the concept of wallet delegation. With this, users can authenticate their cold wallet once and avoid the risks associated with repeatedly accessing these secure storage solutions.

The platform's integration with Twitter enables quick community building. Upon connecting their Twitter accounts, users will be followed by DeGodsNFT and y00tsNFT. And shortly, a feature will allow users to one-click follow all verified DeGods and y00ts NFT holders. 

🎤 Founder Feedback 

🖼️ The Big Picture

Dust Labs is working to simplify the community building experience, making it more accessible, secure, and user-friendly. 

Decentraland announced an upgrade to its marketplace, enhancing navigation for better discoverability across primary and secondary markets. 

The Deets:

• Updated marketplace navigation for better user experience
• Improved discoverability across both primary and secondary markets
• Special callout feature to buy directly from creators still in minting process

The Bulk

Decentraland, one of the leading metaverses, rolled out significant updates to its NFT marketplace. The overhaul aims to improve user experience and enhance discoverability across both primary and secondary markets.

The key update is a restructured navigation system that allows users to more efficiently explore and engage with the various offerings within the marketplace. Whether they're seeking out new minted assets or looking for secondary sales, users can now navigate the platform with ease and precision.

Additionally, the upgrade introduces a special callout feature that highlights creators still in the process of minting new items. This unique spotlight allows users to support and directly purchase from these creators, bolstering the creative community within Decentraland.

🎬 Take Action

Explore the newly revamped marketplace and discover unique digital assets while supporting creators directly in the minting process at Decentraland's Marketplace.

Peer-to-peer trading is officially live on the A Kid Called Beast Marketplace, promising a safer, direct trading environment. 

The Deets

• Secure trading: Platform ensures asset safety and wallet security.
• User experience: Focus on offering an easy, seamless trading experience.
• Trade creation: Users can directly trade one or more assets or top-up with currency.
• Unique promotion: Trades till the end of June stand a chance to unlock a Beast from the vault.

The Bulk

Safety and wallet security have been given top priority, with the platform's infrastructure designed to keep assets as safe as possible. The user interface is intuitive, and the trade creation process is straightforward - users can browse through the collection on the marketplace, initiate a direct trade with their assets, or sweeten the deal by topping up with currency.

Adding a layer of excitement to this feature, Beast Marketplace launched a unique promotion. Any trades carried out on the marketplace until the end of June can win an AKCB NFT from the vault. 

❗Why It Matters

Peer-to-peer trading is one of the most prevalant attack vectors in the web3 space, and although most have been sufficiently warned, it is nice to see project's creating or supporting solutions to limit potential losses for their collectors. 

🎬 Take Action

Interested in trying your hand at P2P trading and potentially unlocking a Beast from the vault? Check out the Beast Marketplace. 

The latest updates from Treeverse's game developers, Endless Clouds, introduces new NPCs and advancing engineering and design components. 

The Deets

• Introduction of new, diverse NPCs including First Mate Nicolo Gamdias and royal minstrel Pytir Glossny
• Enhancements to the combat editor, including crowd control effects and movement modification effects
• Progress in the quest editor tooling and the development of instanced dungeons for specific game modes
• Implementation of more refined UI into the game

The Bulk

Key to this new environment are dynamic NPCs such as First Mate Nicolo Gamdias and Pytir Glossny, the royal minstrel, each featuring distinctive backgrounds, personalities, and roles within the game world. This focus on character diversity aims to create a more rich and engaging narrative experience for players.

On the technical front, Endless Clouds is revolutionizing the combat system through the development of its Combat Tool. The system now encompasses a variety of crowd control effects like stuns, knockbacks and movement modifications, adding depth to combat scenarios. The robust tool has been designed for scalability, with continuous improvements planned for future versions.

In addition, the game developers are streamlining the questing experience, enhancing their quest editor tool for better usability and convenience. They are also working on instanced dungeons, aiming to create custom game modes for diverse gameplay experiences. Further, UI updates are being rolled out to provide a smoother user experience.

📊 By the Numbers

Despite Treeverse's inability to penetrate the drama-filled headlines dominating web3, the project is up more than 45 percent in the last 7 days to 0.48 ETH. 

🎬 Take Action 

You can learn more about the engineering improvements and gameplay updates in the full monthly update.

Find Satoshi Lab (FSL) has launched GNT V3, an AI tool capable of converting selfies into NFTs on the Solana blockchain.

The Deets

• AI-Driven Selfie Transformation: Advanced algorithms turn your selfies into unique pieces of art.
• Democratizing Web3: GNT V3 lowers entry barriers for future NFT creators, supporting batch production of up to 1,000 NFTs.
• FairMint Platform Feature: Allows creators to mint collections for a 12-hour public sale on MOOAR.
• Create Your Profile Engine: A feature where users upload 10-20 selfies with a variety of angles and lighting for optimal results.

The Bulk

Find Satoshi Lab, known for its Web3 game STEPN, continues its exploration of the intersection between AI and Web3 with the release of GNT V3. This tool harnesses the power of AI to convert user selfies into unique digital art pieces, ready for minting as NFTs on the Solana blockchain.

GNT V3 is not just about personal creativity. It's also about democratizing the Web3 space, reducing the barriers to entry for budding NFT creators. With GNT, users can produce up to 1,000 NFTs in a single batch, making it easier than ever to participate in the NFT market.

One feature of GNT V3 is the FairMint platform. This feature allows creators to mint their collections and put them up for a 12-hour public sale on the MOOAR platform. Any unsold NFTs at the end of the period are locked forever, adding an element of urgency and exclusivity to the sale.

FSL is offering users the opportunity to test the new feature on the MOOAR platform. The instructions are simple: upload 10-20 selfies with a variety of angles and lighting for optimal results. The platform then applies AI algorithms to transform the selfies into unique, ready-to-mint NFTs.

❗Why It Matters

The release of GNT V3 illustrates the increasing convergence of AI and blockchain technology. As we move into the future, such innovations could have far-reaching implications for digital identity and personal expression in the Web3 space.

🎬 Take Action

Create your profile to test this new feature.

Ledger Live extends its Cosmos ecosystem support, incorporating Persistence ($XPRT), Onomy ($NOM), and Quicksilver ($QCK) coins into its secure platform.

The Deets

• Compatibility with Cosmos ecosystem widened
• $XPRT, $NOM, and $QCK can now be sent, received, and staked via Ledger Live
• Additional Cosmos chains are continuously being integrated as they reach mainnet status
• A goal to include 20 new Cosmos projects by the year's end

The Bulk

Expanding its scope within the Cosmos ecosystem, Ledger Live has announced the inclusion of three additional Cosmos chains: Persistence (XPRT), Onomy (NOM), and Quicksilver (QCK). Users of the Ledger Live app can now perform various operations such as creating accounts, sending, receiving, and staking these coins, all while enjoying the security of Ledger's renowned hardware wallet.

Ledger is actively adding new Cosmos chains to its platform as they transition onto the mainnet. The objective is to provide Cosmos builders with a pathway to make their coins readily accessible to Ledger Live users. The expansion plan includes adding 20 new Cosmos projects by the end of the year.

This follows Ledger Live's existing support for Cosmos's native token, ATOM. But integrating XPRT, NOM, and QCK brings further possibilities for Ledger Live users. Besides, users can now stake these tokens via the Ledger by Chorus One validator. This enhancement allows users to enjoy crypto rewards without compromising Ledger's secure ecosystem.

🎤 Founder Feedback

🎬 Take Action

To stake $XPRT, $NOM, and $QCK, follow the steps outlined in the article.

📊 By The Numbers

$XPRT is up 4.9% in the last 7 days to $0.17, although down 88% over 1 year.

🧠 Learn more

• Ledgers Postpones Recover Launch

Platinum Group, the top ticket provider for Formula 1, is issuing race tickets as NFTs for this weekend's Monaco Formula One Grand Prix, per CoinDesk.

The Deets

• From May 26 to 28, attendees at the Monaco Formula One Grand Prix can receive a ticket in NFT form.
• The ticket will be minted and issued on the Polygon blockchain.
• The endeavor is the product of a three-way partnership between blockchain infrastructure company Elemint, Web3 agency Bary, and Platinum Group, the largest ticket operator for F1 Grand Prix events.
• In the future, the NFT tickets could provide additional perks, like hospitality benefits and discounts on tickets for future events, or even entry to the Paddock Club and meet-and-greets with the drivers after the race.
• As an example of a potential activation, some NFT holders at the Monaco Grand Prix might even be offered tickets to an exclusive party at the event.

❗ Why It Matters

Most of the uses for NFTs in motor sports have been at the racing team level, so this is a meaningful development. The involvement of Platinum Group adds a different dimension to the possible applications because, as the biggest ticket operator for F1 events, it means the consumer benefits and data that can be associated with the NFT have continuity at more than just one race venue.

🎤 Founder Feedback

🔙 Back It Up

This isn't the first time F1 has experimented with NFTs.

At the Formula 1 Australian Grand Prix in Melbourne in April 2022, sports marketing company Power’d Digital partnered with the CENNZnet blockchain, New Zealand's largest public blockchain platform, to use NFTs for fan engagement as part of the AusGP Access program.

Customers onsite could buy token packs that gave them a chance to win experiences and benefits, including merchandise discounts and pit lane walks. Fans could also use tokens in online auctions to bid for the opportunity to drive a lap around the Melbourne Grand Prix Circuit. Thus, this meaningfully democratized fan access to a type of exclusive experience that's typically reserved for corporate sponsors and the highest tier of ticket holders.

Additionally, the blockchain provided the Australian GP with insights about the target consumer market. Since thousands of tokens were purchased and regifted, the Australian GP was able to examine their fans’ demographics in greater detail. The program must've been a success as it was brought back and retooled for the Australian GP's Access23 program this year, with the program being shifted away from the Token Packs and Tiers that were used in 2022.

🖼️ The Big Picture

Across sports and entertainment, the usage of NFTs as tickets continues to become more prevalent, with Ticketmaster's Avenged Sevenfold collaboration and Sports Illustrated's "Box Office" NFT ticketing solution as recent examples.

NFTs as tickets can be a medium for further fan engagement and provide buyers with additional transparency. For the issuing party, NFT technology can provide insights about consumers and create a funnel of loyal customers to market to in the future.