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\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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By subscribing, you agree with our privacy and terms.

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\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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By subscribing, you agree with our privacy and terms.

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\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

\"\"\"\"<\/div>
LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

\"\"\"\"<\/div>
LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

\"\"\"\"<\/div>
LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

\"\"\"\"<\/div>
LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

\"\"
LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

\u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

\"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

\nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

Restaurants In The Metaverse<\/h2>\n\n\n\n

These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

This news isn't new to some though. <\/p>\n\n\n\n

Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

\"Solana
Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

GameStop and NFTs<\/h2>\n\n\n\n

Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

$IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n
  1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
  2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
  3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
  4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
    \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

    LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

    LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

    NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

    \"\"\"\"<\/div>
    LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

    LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

    LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

    LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

    \"\"
    LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

    With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

    LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

    \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

    Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

    The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

    Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

    Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

    This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

    \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

    <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

    Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

    Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

    Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

    Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

    \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

    Restaurants In The Metaverse<\/h2>\n\n\n\n

    These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

    According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

    We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

    OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

    OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

    The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

    Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

    This news isn't new to some though. <\/p>\n\n\n\n

    Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

    Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

    Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

    \"Solana
    Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

    The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

    Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

    NFT Scam In The Making<\/h2>\n\n\n\n

    The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

    The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

    Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

    Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

    Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

    The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

    The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

    Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

    In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

    Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

    GameStop and NFTs<\/h2>\n\n\n\n

    Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

    Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

    According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

    Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

    Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

    $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

    The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 4 5 6 7 8

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    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

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    ADVERTISEMENT
    \n

    There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

    1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
    2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
    3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
    4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
      \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

      LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

      LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

      NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

      \"\"\"\"<\/div>
      LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

      LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

      LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

      LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

      \"\"
      LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

      With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

      LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

      \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

      Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

      The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

      Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

      Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

      This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

      \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

      <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

      Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

      Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

      Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

      Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

      \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

      Restaurants In The Metaverse<\/h2>\n\n\n\n

      These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

      According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

      We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

      OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

      OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

      The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

      Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

      This news isn't new to some though. <\/p>\n\n\n\n

      Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

      Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

      Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

      \"Solana
      Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

      The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

      Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

      NFT Scam In The Making<\/h2>\n\n\n\n

      The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

      The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

      Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

      Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

      Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

      The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

      The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

      Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

      In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

      Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

      GameStop and NFTs<\/h2>\n\n\n\n

      Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

      Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

      According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

      Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

      Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

      $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

      The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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      \n

      Examples Of NFT Wash Trades<\/h2>\n\n\n\n

      There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

      1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
      2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
      3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
      4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
        \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

        LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

        LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

        NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

        \"\"\"\"<\/div>
        LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

        LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

        LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

        LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

        \"\"
        LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

        With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

        LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

        \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

        Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

        The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

        Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

        Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

        This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

        \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

        <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

        Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

        Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

        Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

        Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

        \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

        Restaurants In The Metaverse<\/h2>\n\n\n\n

        These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

        According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

        We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

        OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

        OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

        The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

        Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

        This news isn't new to some though. <\/p>\n\n\n\n

        Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

        Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

        Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

        \"Solana
        Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

        The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

        Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

        NFT Scam In The Making<\/h2>\n\n\n\n

        The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

        The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

        Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

        Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

        Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

        The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

        The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

        Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

        In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

        Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

        GameStop and NFTs<\/h2>\n\n\n\n

        Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

        Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

        According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

        Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

        Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

        $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

        The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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        \n
        \"Data
        Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

        Examples Of NFT Wash Trades<\/h2>\n\n\n\n

        There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

        1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
        2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
        3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
        4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
          \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

          LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

          LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

          NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

          \"\"\"\"<\/div>
          LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

          LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

          LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

          LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

          \"\"
          LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

          With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

          LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

          \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

          \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

          Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

          The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

          Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

          Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

          \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

          This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

          \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

          <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

          Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

          Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

          Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

          Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

          \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

          Restaurants In The Metaverse<\/h2>\n\n\n\n

          These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

          According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

          We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

          OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

          OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

          \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

          The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

          Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

          This news isn't new to some though. <\/p>\n\n\n\n

          Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

          \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

          Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

          Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

          \"Solana
          Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

          The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

          Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

          NFT Scam In The Making<\/h2>\n\n\n\n

          The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

          The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

          Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

          Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

          Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

          The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

          The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

          Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

          In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

          Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

          GameStop and NFTs<\/h2>\n\n\n\n

          Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

          Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

          According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

          Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

          \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

          Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

          $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

          The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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          \n

          NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

          \"Data
          Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

          Examples Of NFT Wash Trades<\/h2>\n\n\n\n

          There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

          1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
          2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
          3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
          4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
            \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

            LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

            LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

            NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

            \"\"\"\"<\/div>
            LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

            LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

            LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

            LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

            \"\"
            LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

            With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

            LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

            \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

            \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

            Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

            The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

            Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

            Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

            \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

            This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

            \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

            <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

            Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

            Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

            Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

            Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

            \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

            Restaurants In The Metaverse<\/h2>\n\n\n\n

            These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

            According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

            We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

            OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

            OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

            \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

            The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

            Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

            This news isn't new to some though. <\/p>\n\n\n\n

            Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

            \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

            Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

            Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

            \"Solana
            Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

            The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

            Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

            NFT Scam In The Making<\/h2>\n\n\n\n

            The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

            The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

            Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

            Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

            Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

            The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

            The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

            Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

            In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

            Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

            GameStop and NFTs<\/h2>\n\n\n\n

            Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

            Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

            According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

            Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

            \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

            Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

            $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

            The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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            \n

            Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

            NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

            \"Data
            Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

            Examples Of NFT Wash Trades<\/h2>\n\n\n\n

            There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

            1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
            2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
            3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
            4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
              \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

              LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

              LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

              NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

              \"\"\"\"<\/div>
              LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

              LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

              LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

              LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

              \"\"
              LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

              With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

              LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

              \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

              \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

              Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

              The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

              Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

              Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

              \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

              This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

              \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

              <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

              Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

              Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

              Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

              Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

              \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

              Restaurants In The Metaverse<\/h2>\n\n\n\n

              These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

              According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

              We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

              OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

              OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

              \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

              The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

              Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

              This news isn't new to some though. <\/p>\n\n\n\n

              Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

              \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

              Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

              Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

              \"Solana
              Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

              The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

              Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

              NFT Scam In The Making<\/h2>\n\n\n\n

              The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

              The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

              Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

              Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

              Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

              The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

              The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

              Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

              In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

              Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

              GameStop and NFTs<\/h2>\n\n\n\n

              Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

              Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

              According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

              Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

              \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

              Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

              $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

              The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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              \n

              The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

              Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

              NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

              \"Data
              Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

              Examples Of NFT Wash Trades<\/h2>\n\n\n\n

              There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

              1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
              2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
              3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
              4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                \"\"\"\"<\/div>
                LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                \"\"
                LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                Restaurants In The Metaverse<\/h2>\n\n\n\n

                These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                This news isn't new to some though. <\/p>\n\n\n\n

                Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                \"Solana
                Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                NFT Scam In The Making<\/h2>\n\n\n\n

                The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                GameStop and NFTs<\/h2>\n\n\n\n

                Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                1 … 4 5 6 7 8

                Most Read

                Subscribe To Our Newsletter

                By subscribing, you agree with our privacy and terms.

                Follow The Distributed

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                \n

                How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                \"Data
                Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                  \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                  LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                  LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                  NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                  \"\"\"\"<\/div>
                  LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                  LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                  LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                  LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                  \"\"
                  LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                  With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                  LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                  \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                  \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                  Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                  The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                  Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                  Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                  \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                  This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                  \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                  <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                  Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                  Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                  Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                  Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                  \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                  Restaurants In The Metaverse<\/h2>\n\n\n\n

                  These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                  According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                  We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                  OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                  OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                  \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                  The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                  Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                  This news isn't new to some though. <\/p>\n\n\n\n

                  Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                  \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                  Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                  Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                  \"Solana
                  Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                  The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                  Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                  NFT Scam In The Making<\/h2>\n\n\n\n

                  The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                  The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                  Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                  Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                  Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                  The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                  The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                  Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                  In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                  Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                  GameStop and NFTs<\/h2>\n\n\n\n

                  Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                  Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                  According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                  Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                  \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                  Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                  $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                  The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                  1 … 4 5 6 7 8

                  Most Read

                  Subscribe To Our Newsletter

                  By subscribing, you agree with our privacy and terms.

                  Follow The Distributed

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                  ADVERTISEMENT
                  \n

                  The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                  How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                  The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                  Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                  NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                  \"Data
                  Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                  Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                  There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                  1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                  2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                  3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                  4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                    \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                    LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                    LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                    NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                    \"\"\"\"<\/div>
                    LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                    LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                    LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                    LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                    \"\"
                    LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                    With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                    LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                    \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                    \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                    Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                    The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                    Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                    Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                    \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                    This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                    \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                    <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                    Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                    Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                    Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                    Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                    \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                    Restaurants In The Metaverse<\/h2>\n\n\n\n

                    These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                    According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                    We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                    OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                    OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                    \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                    The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                    Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                    This news isn't new to some though. <\/p>\n\n\n\n

                    Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                    \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                    Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                    Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                    \"Solana
                    Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                    The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                    Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                    NFT Scam In The Making<\/h2>\n\n\n\n

                    The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                    The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                    Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                    Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                    Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                    The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                    The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                    Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                    In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                    Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                    GameStop and NFTs<\/h2>\n\n\n\n

                    Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                    Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                    According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                    Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                    \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                    Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                    $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                    The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                    \n

                    After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                    The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                    How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                    The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                    Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                    NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                    \"Data
                    Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                    Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                    There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                    1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                    2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                    3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                    4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                      \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                      LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                      LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                      NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                      \"\"\"\"<\/div>
                      LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                      LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                      LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                      LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                      \"\"
                      LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                      With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                      LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                      \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                      \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                      Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                      The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                      Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                      Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                      \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                      This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                      \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                      <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                      Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                      Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                      Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                      Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                      \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                      Restaurants In The Metaverse<\/h2>\n\n\n\n

                      These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                      According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                      We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                      OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                      OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                      \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                      The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                      Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                      This news isn't new to some though. <\/p>\n\n\n\n

                      Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                      \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                      Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                      Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                      \"Solana
                      Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                      The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                      Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                      NFT Scam In The Making<\/h2>\n\n\n\n

                      The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                      The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                      Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                      Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                      Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                      The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                      The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                      Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                      In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                      Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                      GameStop and NFTs<\/h2>\n\n\n\n

                      Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                      Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                      According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                      Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                      \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                      Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                      $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                      The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                      \n

                      Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                      After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                      The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                      How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                      The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                      Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                      NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                      \"Data
                      Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                      Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                      There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                      1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                      2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                      3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                      4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                        \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                        LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                        LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                        NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                        \"\"\"\"<\/div>
                        LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                        LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                        LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                        LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                        \"\"
                        LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                        With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                        LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                        \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                        \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                        Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                        The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                        Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                        Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                        \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                        This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                        \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                        <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                        Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                        Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                        Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                        Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                        \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                        Restaurants In The Metaverse<\/h2>\n\n\n\n

                        These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                        According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                        We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                        OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                        OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                        \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                        The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                        Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                        This news isn't new to some though. <\/p>\n\n\n\n

                        Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                        \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                        Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                        Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                        \"Solana
                        Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                        The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                        Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                        NFT Scam In The Making<\/h2>\n\n\n\n

                        The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                        The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                        Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                        Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                        Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                        The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                        The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                        Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                        In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                        Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                        GameStop and NFTs<\/h2>\n\n\n\n

                        Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                        Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                        According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                        Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                        \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                        Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                        $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                        The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                        \n

                        What Is NFT Wash Trading?<\/h2>\n\n\n\n

                        Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                        After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                        The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                        How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                        The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                        Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                        NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                        \"Data
                        Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                        Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                        There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                        1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                        2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                        3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                        4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                          \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                          LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                          LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                          NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                          \"\"\"\"<\/div>
                          LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                          LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                          LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                          LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                          \"\"
                          LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                          With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                          LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                          \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                          Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                          The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                          Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                          Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                          This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                          \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                          <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                          Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                          Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                          Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                          Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                          \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                          Restaurants In The Metaverse<\/h2>\n\n\n\n

                          These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                          According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                          We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                          OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                          OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                          The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                          Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                          This news isn't new to some though. <\/p>\n\n\n\n

                          Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                          Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                          Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                          \"Solana
                          Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                          The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                          Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                          NFT Scam In The Making<\/h2>\n\n\n\n

                          The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                          The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                          Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                          Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                          Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                          The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                          The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                          Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                          In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                          Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                          GameStop and NFTs<\/h2>\n\n\n\n

                          Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                          Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                          According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                          Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                          Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                          $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                          The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                          \n

                          Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                          What Is NFT Wash Trading?<\/h2>\n\n\n\n

                          Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                          After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                          The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                          How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                          The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                          Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                          NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                          \"Data
                          Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                          Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                          There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                          1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                          2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                          3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                          4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                            \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                            LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                            LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                            NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                            \"\"\"\"<\/div>
                            LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                            LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                            LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                            LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                            \"\"
                            LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                            With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                            LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                            \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                            \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                            Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                            The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                            Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                            Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                            \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                            This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                            \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                            <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                            Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                            Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                            Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                            Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                            \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                            Restaurants In The Metaverse<\/h2>\n\n\n\n

                            These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                            According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                            We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                            OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                            OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                            \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                            The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                            Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                            This news isn't new to some though. <\/p>\n\n\n\n

                            Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                            \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                            Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                            Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                            \"Solana
                            Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                            The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                            Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                            NFT Scam In The Making<\/h2>\n\n\n\n

                            The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                            The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                            Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                            Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                            Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                            The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                            The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                            Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                            In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                            Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                            GameStop and NFTs<\/h2>\n\n\n\n

                            Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                            Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                            According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                            Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                            \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                            Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                            $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                            The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                            \n

                            State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                            Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                            What Is NFT Wash Trading?<\/h2>\n\n\n\n

                            Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                            After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                            The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                            How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                            The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                            Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                            NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                            \"Data
                            Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                            Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                            There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                            1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                            2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                            3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                            4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                              \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                              LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                              LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                              NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                              \"\"\"\"<\/div>
                              LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                              LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                              LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                              LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                              \"\"
                              LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                              With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                              LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                              \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                              \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                              Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                              The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                              Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                              Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                              \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                              This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                              \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                              <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                              Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                              Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                              Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                              Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                              \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                              Restaurants In The Metaverse<\/h2>\n\n\n\n

                              These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                              According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                              We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                              OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                              OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                              \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                              The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                              Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                              This news isn't new to some though. <\/p>\n\n\n\n

                              Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                              \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                              Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                              Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                              \"Solana
                              Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                              The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                              Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                              NFT Scam In The Making<\/h2>\n\n\n\n

                              The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                              The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                              Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                              Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                              Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                              The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                              The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                              Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                              In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                              Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                              GameStop and NFTs<\/h2>\n\n\n\n

                              Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                              Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                              According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                              Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                              \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                              Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                              $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                              The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                              \n

                              Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                              State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                              Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                              What Is NFT Wash Trading?<\/h2>\n\n\n\n

                              Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                              After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                              The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                              How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                              The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                              Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                              NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                              \"Data
                              Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                              Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                              There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                              1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                              2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                              3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                              4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                \"\"\"\"<\/div>
                                LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                \"\"
                                LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                Restaurants In The Metaverse<\/h2>\n\n\n\n

                                These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                This news isn't new to some though. <\/p>\n\n\n\n

                                Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                \"Solana
                                Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                NFT Scam In The Making<\/h2>\n\n\n\n

                                The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                GameStop and NFTs<\/h2>\n\n\n\n

                                Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                \n

                                NFT Recognition In China<\/h2>\n\n\n\n

                                Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                \"Data
                                Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                  \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                  LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                  LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                  NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                  \"\"\"\"<\/div>
                                  LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                  LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                  LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                  LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                  \"\"
                                  LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                  With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                  LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                  \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                  Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                  The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                  Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                  Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                  This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                  \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                  <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                  Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                  Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                  Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                  Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                  Restaurants In The Metaverse<\/h2>\n\n\n\n

                                  These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                  According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                  We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                  OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                  OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                  The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                  Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                  This news isn't new to some though. <\/p>\n\n\n\n

                                  Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                  Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                  Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                  \"Solana
                                  Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                  The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                  Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                  NFT Scam In The Making<\/h2>\n\n\n\n

                                  The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                  The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                  Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                  Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                  Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                  The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                  The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                  Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                  In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                  Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                  GameStop and NFTs<\/h2>\n\n\n\n

                                  Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                  Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                  According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                  Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                  \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                  Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                  $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                  The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                  \n

                                  China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                  NFT Recognition In China<\/h2>\n\n\n\n

                                  Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                  State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                  Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                  What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                  Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                  After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                  The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                  How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                  The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                  Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                  NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                  \"Data
                                  Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                  Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                  There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                  1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                  2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                  3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                  4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                    \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                    LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                    LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                    NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                    \"\"\"\"<\/div>
                                    LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                    LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                    LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                    LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                    \"\"
                                    LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                    With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                    LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                    \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                    Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                    The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                    Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                    Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                    This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                    \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                    <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                    Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                    Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                    Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                    Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                    Restaurants In The Metaverse<\/h2>\n\n\n\n

                                    These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                    According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                    We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                    OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                    OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                    The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                    Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                    This news isn't new to some though. <\/p>\n\n\n\n

                                    Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                    Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                    Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                    \"Solana
                                    Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                    The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                    Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                    NFT Scam In The Making<\/h2>\n\n\n\n

                                    The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                    The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                    Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                    Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                    Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                    The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                    The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                    Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                    In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                    Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                    GameStop and NFTs<\/h2>\n\n\n\n

                                    Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                    Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                    According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                    Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                    \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                    Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                    $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                    The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                    \n

                                    A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                    China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                    NFT Recognition In China<\/h2>\n\n\n\n

                                    Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                    State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                    Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                    What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                    Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                    After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                    The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                    How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                    The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                    Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                    NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                    \"Data
                                    Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                    Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                    There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                    1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                    2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                    3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                    4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                      \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                      LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                      LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                      NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                      \"\"\"\"<\/div>
                                      LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                      LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                      LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                      LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                      \"\"
                                      LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                      With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                      LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                      \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                      Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                      The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                      Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                      Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                      This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                      \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                      <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                      Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                      Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                      Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                      Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                      Restaurants In The Metaverse<\/h2>\n\n\n\n

                                      These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                      According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                      We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                      OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                      OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                      The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                      Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                      This news isn't new to some though. <\/p>\n\n\n\n

                                      Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                      Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                      Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                      \"Solana
                                      Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                      The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                      Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                      NFT Scam In The Making<\/h2>\n\n\n\n

                                      The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                      The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                      Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                      Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                      Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                      The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                      The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                      Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                      In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                      Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                      GameStop and NFTs<\/h2>\n\n\n\n

                                      Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                      Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                      According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                      Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                      Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                      $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                      The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                      \n

                                      Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                      A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                      China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                      NFT Recognition In China<\/h2>\n\n\n\n

                                      Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                      State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                      Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                      What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                      Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                      After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                      The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                      How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                      The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                      Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                      NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                      \"Data
                                      Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                      Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                      There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                      1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                      2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                      3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                      4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                        \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                        LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                        LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                        NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                        \"\"\"\"<\/div>
                                        LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                        LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                        LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                        LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                        \"\"
                                        LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                        With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                        LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                        \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                        Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                        The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                        Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                        Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                        This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                        \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                        <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                        Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                        Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                        Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                        Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                        Restaurants In The Metaverse<\/h2>\n\n\n\n

                                        These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                        According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                        We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                        OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                        OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                        The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                        Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                        This news isn't new to some though. <\/p>\n\n\n\n

                                        Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                        Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                        Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                        \"Solana
                                        Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                        The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                        Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                        NFT Scam In The Making<\/h2>\n\n\n\n

                                        The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                        The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                        Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                        Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                        Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                        The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                        The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                        Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                        In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                        Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                        GameStop and NFTs<\/h2>\n\n\n\n

                                        Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                        Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                        According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                        Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                        \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                        Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                        $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                        The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                        \n

                                        According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                        Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                        A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                        China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                        NFT Recognition In China<\/h2>\n\n\n\n

                                        Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                        State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                        Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                        What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                        Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                        After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                        The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                        How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                        The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                        Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                        NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                        \"Data
                                        Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                        Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                        There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                        1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                        2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                        3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                        4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                          \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                          LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                          LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                          NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                          \"\"\"\"<\/div>
                                          LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                          LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                          LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                          LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                          \"\"
                                          LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                          With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                          LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                          \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                          Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                          The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                          Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                          Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                          This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                          \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                          <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                          Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                          Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                          Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                          Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                          Restaurants In The Metaverse<\/h2>\n\n\n\n

                                          These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                          According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                          We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                          OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                          OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                          The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                          Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                          This news isn't new to some though. <\/p>\n\n\n\n

                                          Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                          Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                          Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                          \"Solana
                                          Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                          The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                          Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                          NFT Scam In The Making<\/h2>\n\n\n\n

                                          The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                          The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                          Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                          Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                          Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                          The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                          The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                          Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                          In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                          Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                          GameStop and NFTs<\/h2>\n\n\n\n

                                          Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                          Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                          According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                          Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                          \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                          Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                          $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                          The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                          \n

                                          The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                          According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                          Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                          A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                          China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                          NFT Recognition In China<\/h2>\n\n\n\n

                                          Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                          State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                          Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                          What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                          Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                          After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                          The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                          How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                          The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                          Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                          NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                          \"Data
                                          Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                          Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                          There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                          1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                          2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                          3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                          4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                            \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                            LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                            LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                            NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                            \"\"\"\"<\/div>
                                            LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                            LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                            LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                            LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                            \"\"
                                            LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                            With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                            LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                            \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                            Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                            The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                            Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                            Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                            This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                            \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                            <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                            Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                            Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                            Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                            Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                            Restaurants In The Metaverse<\/h2>\n\n\n\n

                                            These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                            According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                            We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                            OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                            OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                            The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                            Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                            This news isn't new to some though. <\/p>\n\n\n\n

                                            Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                            Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                            Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                            \"Solana
                                            Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                            The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                            Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                            NFT Scam In The Making<\/h2>\n\n\n\n

                                            The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                            The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                            Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                            Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                            Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                            The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                            The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                            Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                            In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                            Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                            GameStop and NFTs<\/h2>\n\n\n\n

                                            Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                            Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                            According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                            Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                            \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                            Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                            $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                            The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                            \n

                                            KuCoin was launched in 2017 and currently registers over $2B in daily transaction volume according to CoinMarketCap<\/a> and registered over 10 million global users<\/a> at the end of 2021.<\/p>\n","post_title":"KuCoin Launches A $100M Creator Fund For NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kucoin-launches-a-100m-creator-fund-for-nfts","to_ping":"","pinged":"","post_modified":"2022-04-19 22:36:19","post_modified_gmt":"2022-04-19 12:36:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4434","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4330,"post_author":"1","post_date":"2022-04-14 23:21:56","post_date_gmt":"2022-04-14 13:21:56","post_content":"\n

                                            The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                            According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                            Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                            A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                            China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                            NFT Recognition In China<\/h2>\n\n\n\n

                                            Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                            State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                            Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                            What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                            Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                            After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                            The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                            How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                            The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                            Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                            NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                            \"Data
                                            Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                            Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                            There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                            1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                            2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                            3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                            4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                              \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                              LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                              LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                              NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                              \"\"\"\"<\/div>
                                              LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                              LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                              LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                              LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                              \"\"
                                              LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                              With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                              LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                              \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                              Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                              The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                              Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                              Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                              This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                              \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                              <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                              Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                              Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                              Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                              Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                              Restaurants In The Metaverse<\/h2>\n\n\n\n

                                              These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                              According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                              We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                              OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                              OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                              The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                              Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                              This news isn't new to some though. <\/p>\n\n\n\n

                                              Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                              Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                              Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                              \"Solana
                                              Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                              The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                              Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                              NFT Scam In The Making<\/h2>\n\n\n\n

                                              The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                              The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                              Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                              Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                              Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                              The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                              The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                              Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                              In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                              Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                              GameStop and NFTs<\/h2>\n\n\n\n

                                              Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                              Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                              According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                              Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                              \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                              Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                              $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                              The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                              \n

                                              The $100M \u2018Creators Fund\u2019 will support NFT creators and projects, which will further consolidate the metaverse infrastructure. Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.<\/em><\/p>Johnny Lyu, CEO of KuCoin<\/cite><\/blockquote>\n\n\n\n

                                              KuCoin was launched in 2017 and currently registers over $2B in daily transaction volume according to CoinMarketCap<\/a> and registered over 10 million global users<\/a> at the end of 2021.<\/p>\n","post_title":"KuCoin Launches A $100M Creator Fund For NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kucoin-launches-a-100m-creator-fund-for-nfts","to_ping":"","pinged":"","post_modified":"2022-04-19 22:36:19","post_modified_gmt":"2022-04-19 12:36:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4434","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4330,"post_author":"1","post_date":"2022-04-14 23:21:56","post_date_gmt":"2022-04-14 13:21:56","post_content":"\n

                                              The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                              According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                              Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                              A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                              China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                              NFT Recognition In China<\/h2>\n\n\n\n

                                              Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                              State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                              Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                              What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                              Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                              After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                              The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                              How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                              The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                              Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                              NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                              \"Data
                                              Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                              Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                              There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                              1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                              2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                              3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                              4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                                \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                                LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                                LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                                NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                                \"\"\"\"<\/div>
                                                LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                                LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                                LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                                LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                                \"\"
                                                LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                                With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                                LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                                \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                                Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                                The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                                Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                                Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                                This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                                \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                                <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                                Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                                Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                                Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                                Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                                Restaurants In The Metaverse<\/h2>\n\n\n\n

                                                These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                                According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                                We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                                OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                                OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                                The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                                Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                                This news isn't new to some though. <\/p>\n\n\n\n

                                                Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                                Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                                Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                                \"Solana
                                                Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                                The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                                Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                                NFT Scam In The Making<\/h2>\n\n\n\n

                                                The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                                The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                                Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                                Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                                Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                                The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                                The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                                Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                                In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                                Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                                GameStop and NFTs<\/h2>\n\n\n\n

                                                Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                                Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                                According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                                Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                                \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                                Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                \n

                                                The fund will support promising NFT projects with strong teams and innovative technology to facilitate the development of NFT space and contribute to building a diverse Web 3.0 world. Windvane will openly support mainstream NFT blockchains such as ETH, BSC, and FLOW while offering their services to their \"huge user traffic\".<\/p>\n\n\n\n

                                                The $100M \u2018Creators Fund\u2019 will support NFT creators and projects, which will further consolidate the metaverse infrastructure. Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.<\/em><\/p>Johnny Lyu, CEO of KuCoin<\/cite><\/blockquote>\n\n\n\n

                                                KuCoin was launched in 2017 and currently registers over $2B in daily transaction volume according to CoinMarketCap<\/a> and registered over 10 million global users<\/a> at the end of 2021.<\/p>\n","post_title":"KuCoin Launches A $100M Creator Fund For NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kucoin-launches-a-100m-creator-fund-for-nfts","to_ping":"","pinged":"","post_modified":"2022-04-19 22:36:19","post_modified_gmt":"2022-04-19 12:36:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4434","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4330,"post_author":"1","post_date":"2022-04-14 23:21:56","post_date_gmt":"2022-04-14 13:21:56","post_content":"\n

                                                The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                                According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                                Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                                A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                                China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                                NFT Recognition In China<\/h2>\n\n\n\n

                                                Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                                State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                                Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                                What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                                Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                                After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                                The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                                How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                                The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                                Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                                NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                                \"Data
                                                Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                                Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                                There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                                1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                                2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                                3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                                4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                                  \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                                  LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                                  LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                                  NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                                  \"\"\"\"<\/div>
                                                  LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                                  LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                                  LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                                  LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                                  \"\"
                                                  LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                                  With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                                  LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                                  \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                                  Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                                  The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                                  Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                                  Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                                  This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                                  \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                                  <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                                  Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                                  Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                                  Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                                  Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                                  Restaurants In The Metaverse<\/h2>\n\n\n\n

                                                  These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                                  According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                                  We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                                  OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                                  OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                                  The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                                  Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                                  This news isn't new to some though. <\/p>\n\n\n\n

                                                  Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                                  Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                                  Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                                  \"Solana
                                                  Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                                  The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                                  Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                                  NFT Scam In The Making<\/h2>\n\n\n\n

                                                  The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                                  The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                                  Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                                  Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                                  Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                                  The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                                  The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                                  Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                                  In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                                  Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                                  GameStop and NFTs<\/h2>\n\n\n\n

                                                  Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                                  Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                                  According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                                  Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                                  Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                  $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                  The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                  \n

                                                  The fund coincides with the KuCoin Windvane NFT Marketplace which was recently launched and will \"invite 99 outstanding NFT creators to join the Windvane NFT marketplace to accelerate the growth of Web 3.0.\" states KuCoin's press release<\/a>.<\/p>\n\n\n\n

                                                  The fund will support promising NFT projects with strong teams and innovative technology to facilitate the development of NFT space and contribute to building a diverse Web 3.0 world. Windvane will openly support mainstream NFT blockchains such as ETH, BSC, and FLOW while offering their services to their \"huge user traffic\".<\/p>\n\n\n\n

                                                  The $100M \u2018Creators Fund\u2019 will support NFT creators and projects, which will further consolidate the metaverse infrastructure. Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.<\/em><\/p>Johnny Lyu, CEO of KuCoin<\/cite><\/blockquote>\n\n\n\n

                                                  KuCoin was launched in 2017 and currently registers over $2B in daily transaction volume according to CoinMarketCap<\/a> and registered over 10 million global users<\/a> at the end of 2021.<\/p>\n","post_title":"KuCoin Launches A $100M Creator Fund For NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kucoin-launches-a-100m-creator-fund-for-nfts","to_ping":"","pinged":"","post_modified":"2022-04-19 22:36:19","post_modified_gmt":"2022-04-19 12:36:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4434","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4330,"post_author":"1","post_date":"2022-04-14 23:21:56","post_date_gmt":"2022-04-14 13:21:56","post_content":"\n

                                                  The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                                  According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                                  Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                                  A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                                  China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                                  NFT Recognition In China<\/h2>\n\n\n\n

                                                  Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                                  State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                                  Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                                  What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                                  Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                                  After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                                  The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                                  How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                                  The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                                  Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                                  NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                                  \"Data
                                                  Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                                  Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                                  There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                                  1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                                  2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                                  3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                                  4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                                    \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                                    LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                                    LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                                    NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                                    \"\"\"\"<\/div>
                                                    LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                                    LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                                    LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                                    LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                                    \"\"
                                                    LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                                    With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                                    LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                                    \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                                    Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                                    The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                                    Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                                    Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                                    This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                                    \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                                    <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                                    Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                                    Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                                    Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                                    Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                                    Restaurants In The Metaverse<\/h2>\n\n\n\n

                                                    These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                                    According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                                    We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                                    OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                                    OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                                    The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                                    Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                                    This news isn't new to some though. <\/p>\n\n\n\n

                                                    Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                                    Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                                    Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                                    \"Solana
                                                    Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                                    The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                                    Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                                    NFT Scam In The Making<\/h2>\n\n\n\n

                                                    The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                                    The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                                    Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                                    Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                                    Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                                    The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                                    The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                                    Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                                    In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                                    Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                                    GameStop and NFTs<\/h2>\n\n\n\n

                                                    Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                                    Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                                    According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                                    Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                                    \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                                    Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                    $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                    The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                    \n

                                                    Singapore-based cryptocurrency exchange KuCoin<\/a> has announced the launch of a $100M creator fund to support and incubate the growth of early-stage NFT projects from arts to sports.<\/p>\n\n\n\n

                                                    The fund coincides with the KuCoin Windvane NFT Marketplace which was recently launched and will \"invite 99 outstanding NFT creators to join the Windvane NFT marketplace to accelerate the growth of Web 3.0.\" states KuCoin's press release<\/a>.<\/p>\n\n\n\n

                                                    The fund will support promising NFT projects with strong teams and innovative technology to facilitate the development of NFT space and contribute to building a diverse Web 3.0 world. Windvane will openly support mainstream NFT blockchains such as ETH, BSC, and FLOW while offering their services to their \"huge user traffic\".<\/p>\n\n\n\n

                                                    The $100M \u2018Creators Fund\u2019 will support NFT creators and projects, which will further consolidate the metaverse infrastructure. Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.<\/em><\/p>Johnny Lyu, CEO of KuCoin<\/cite><\/blockquote>\n\n\n\n

                                                    KuCoin was launched in 2017 and currently registers over $2B in daily transaction volume according to CoinMarketCap<\/a> and registered over 10 million global users<\/a> at the end of 2021.<\/p>\n","post_title":"KuCoin Launches A $100M Creator Fund For NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kucoin-launches-a-100m-creator-fund-for-nfts","to_ping":"","pinged":"","post_modified":"2022-04-19 22:36:19","post_modified_gmt":"2022-04-19 12:36:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4434","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4330,"post_author":"1","post_date":"2022-04-14 23:21:56","post_date_gmt":"2022-04-14 13:21:56","post_content":"\n

                                                    The Self-Regulatory organizations overseeing the banking and security industry within China are urging members to halt the adoption of NFTs.<\/p>\n\n\n\n

                                                    According to a report from Forkast<\/a>, self-regulatory bodies in China are urging their members to \u201cresolutely curb\u201d the \u201cfinancialization and securitization\u201d of NFTs.<\/p>\n\n\n\n

                                                    Although 3 national-level organizations believe NFTs show the potential to boost cultural industry development, risks outweigh the speculation, money laundering and illegal activities said the Chinese regulators<\/a>.<\/p>\n\n\n\n

                                                    A large publisher within China called 'The Economic Daily<\/a>' believes that \"digital collectibles\" are in urgent need of regulation<\/a>, as there is a layer of risk for domestic consumers.<\/p>\n\n\n\n

                                                    China has not yet clarified the regulations on trading NFTs within the country. \"Before the regulatory mechanism is clarified, consumers are advised to treat it calmly and participate rationally,\" states The Economic Daily.<\/p>\n\n\n\n

                                                    NFT Recognition In China<\/h2>\n\n\n\n

                                                    Multiple companies and organizations in China recognize NFTs as merely \"digital collectibles\". This comes after the denouncement of NFTs from state media. <\/p>\n\n\n\n

                                                    State media believes that \"it is not enough if digital collections are only regarded as cultural and creative commodities traded online and supervised by market supervision departments and intellectual property departments...digital collections have commodity attributes, currency attributes, securities attributes, etc., and their supervision involves multiple departments, and it is urgent to establish a joint supervision mechanism.\"<\/p>\n\n\n\n

                                                    Associations have persisted that venues to trade NFTs must not be facilitated, the same members should also stay away from investing in these assets and providing financial support for others to do so.<\/p>\n","post_title":"Chinese Regulators Want To Curb The Wave Of NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinese-regulators-want-to-curb-the-wave-of-nfts","to_ping":"","pinged":"","post_modified":"2022-04-14 23:22:58","post_modified_gmt":"2022-04-14 13:22:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4330","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4247,"post_author":"1","post_date":"2022-04-07 20:36:33","post_date_gmt":"2022-04-07 10:36:33","post_content":"\n

                                                    What Is NFT Wash Trading?<\/h2>\n\n\n\n

                                                    Wash trading in regards to NFTs<\/a> is the process of buying and selling NFTs in a way to manipulate or mislead the market through artificially increased prices or heightened trading volume.<\/p>\n\n\n\n

                                                    After the success of projects like CryptoPunks<\/a> and B.A.Y.C.<\/a>, users are keen to find the next big thing. Wash trading creates a false sense of urgency and demand for a certain project making it seem 'on the rise'. FOMO is a dangerous emotion to play in the markets, but investors will often overlook the small details.<\/p>\n\n\n\n

                                                    The process usually occurs when one user buys their own NFT on a separate wallet. In turn, this gives their NFT an artificially raised price from what it was.<\/p>\n\n\n\n

                                                    How To Identify Wash Trading In NFT Projects<\/h2>\n\n\n\n

                                                    The most important thing is to always do your own research prior to any purchase, not just for NFTs. <\/p>\n\n\n\n

                                                    Using a site like Etherscan<\/a> allows you to look at the history of the token, sites like Opensea<\/a> also have this feature within their platform. If you happen to see the same wallet within multiple transactions on the NFTs history, it is most likely a sign of wash trading.<\/p>\n\n\n\n

                                                    NFT analytics site, CryptoSlam!<\/a> allows users to search for certain NFT projects. Under each project, there is a section showing the amount of money classified under wash sales in the project.<\/p>\n\n\n\n

                                                    \"Data
                                                    Data Depicting Wash Sales Within The Meebits Project - Source: CryptoSlam!<\/a><\/figcaption><\/figure>\n\n\n\n

                                                    Examples Of NFT Wash Trades<\/h2>\n\n\n\n

                                                    There have been a lot of users who have come across this type of market manipulation, here are some examples.<\/p>\n\n\n\n

                                                    1. CryptoPunk #9998 which sold for $530 million<\/a> using a flash loan. <\/li>
                                                    2. \u00a0Meebit #13824<\/a> selling for over $49.5 million<\/a><\/li>
                                                    3. A Coinbase employee was arrested over allegations including wash sales. ((https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8369-21))<\/li>
                                                    4. 95% of the trading platform LooksRare's volume is derived from wash trading<\/a><\/li><\/ol>\n\n\n\n
                                                      \nhttps:\/\/twitter.com\/cryptoslamio\/status\/1487114454848491524\n<\/div><\/figure>\n","post_title":"NFT Wash Trading Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/cryptopunk-9998\/","post_modified":"2022-06-02 22:09:30","post_modified_gmt":"2022-06-02 12:09:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4247","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4226,"post_author":"1","post_date":"2022-04-06 06:51:19","post_date_gmt":"2022-04-05 20:51:19","post_content":"\n

                                                      LooksRare<\/a> is the 2nd largest<\/a> NFT marketplace by volume. Although 95% of its trading volume<\/a> is coming from users selling and buying their own NFTs.<\/p>\n\n\n\n

                                                      LooksRare was launched on January 10th this year, within that time frame it has amassed over $22.5 billion in sales over 109,000 transactions according to Dune Analytics.<\/p>\n\n\n\n

                                                      NFT analytics site CryptoSlam! reported<\/a> in January that over $8 billion worth of NFT sales can be classified under wash trading. Since then, around 95% of sales on the site, or around $20B can be linked to wash trading<\/a>.<\/p>\n\n\n\n

                                                      \"\"\"\"<\/div>
                                                      LooksRare Trading Volume With<\/a> \/ Without<\/a> Wash Trading - Source: Dune Analytics<\/a><\/figcaption><\/figure>\n\n\n\n

                                                      LooksRare was launched by two anonymous developers, Zodd and Guts, in January of 2022. Since its launch, LooksRare has grown to become the biggest alternative to\u00a0the leading NFT marketplace,\u00a0OpenSea<\/a>. Despite the decline in NFT sales this year, users are still finding ways to make a quick profit, ethical or not.<\/p>\n\n\n\n

                                                      LooksRare Intentional Setup Of Wash Trading<\/h2>\n\n\n\n

                                                      LooksRare came up with a genius trading rewards model<\/a> to help grow their site. LooksRare will offer token rewards in LooksRare Token ($LOOKS<\/a>) to users who buy and sell on their platform.<\/p>\n\n\n\n

                                                      \"\"
                                                      LooksRare Historical Trading Volume - Source: DappRadar<\/a><\/figcaption><\/figure>\n\n\n\n

                                                      With this users can cheat the system. NFTs can be wash traded where the prices of the NFT would be inflated to the point that the $LOOKS reward would be enough to cover the Ethereum gas fees<\/a> and LooksRare's 2% marketplace fee. With this fact, LooksRare also provides staking rewards for users who stake $LOOKS on the platform, paid out in Wrapped Ethereum ($WETH<\/a>), this is an even larger reason for users to keep using the site.<\/p>\n\n\n\n

                                                      LooksRare is aware of the fact this is happening. They retweeted <\/a>a tweet that called these tactics \"genius\" back near their launch in January, they also did not institute any methods at their launch to deter users from buying and selling their own NFTs at inflated prices.<\/p>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/LooksRareNFT\/status\/1487018639949582336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1487018639949582336%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fdecrypt.co%2F91510%2Flooksrare-has-reportedly-generated-8b-ethereum-nft-wash-trading\n<\/div><\/figure>\n\n\n\n

                                                      \u201cIt seems that organic trading is indeed increasing in LooksRare. The difference between selling expensive NFTs like BAYC on LooksRare rather than OpenSea can become a 1-2 Ether difference that the seller saves. So it appears that the NFT community is slowly adopting other options outside the incumbent.\u201d <\/em><\/p>Pedro Herrera, Senior Data Analyst at DappRadar. <\/cite><\/blockquote>\n\n\n\n

                                                      Although this success may not be long-lived. Wash trading in other markets is considered an illegal act. Chainalysis made a point of this in a report<\/a> and recommends LooksRare to discourage the activity of wash trading. As regulators<\/a> start taking closer looks into markets, these moves which seem fine now may eventually come back to hit the users even harder.<\/p>\n","post_title":"Wash Trading Makes Up 95% Of LooksRare Trading Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wash-trading-makes-up-95-of-looksrare-trading-volume","to_ping":"","pinged":"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering\/\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-04-07 21:27:34","post_modified_gmt":"2022-04-07 11:27:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4202,"post_author":"1","post_date":"2022-04-05 21:00:49","post_date_gmt":"2022-04-05 11:00:49","post_content":"\n

                                                      The United Kingdom government has announced plans to release a non-fungible token (NFT<\/a>) project dubbed the 'Royal Mint NFT'. This announcement correlates with their plan for a \"forward-looking approach\" towards crypto assets in the UK.<\/p>\n\n\n\n

                                                      Chancellor of the Exchequer (national treasury) Rishi Sunak has asked the U.K's Royal Mint to produce an NFT in the following months prior to summer.<\/p>\n\n\n\n

                                                      Economic Secretary to the Treasury John Glen stated<\/a> in a keynote speech the Royal Mint NFT collection will be \"an emblem of the forward-looking approach we are determined to take\"<\/p>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/hmtreasury\/status\/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thedistributed.co%2Fwp-admin%2Fpost.php%3Fpost%3D4202action%3Dedit\n<\/div><\/figure>\n\n\n\n

                                                      This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the adoption of <\/a>stablecoins<\/a> by the UK government<\/a>. The UK will proactively explore the potentially transformative benefits of\u00a0Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

                                                      \"We think that by making this country a hospitable place for crypto we can attract investment, generate swathes of new jobs, and create a wave of ground-breaking new products and services. We\u2019re on the cusp of something important. We have the opportunity to shape and lead it. And that is what we\u2019ll do.<\/em>\"<\/p>John Glen, Economic Secretary to the Treasury<\/cite><\/blockquote>\n\n\n\n

                                                      <\/p>\n","post_title":"UK Government Plans The 'Royal Mint NFT'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-plans-the-royal-mint-nft","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-04-24 23:19:34","post_modified_gmt":"2022-04-24 13:19:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4202","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4194,"post_author":"1","post_date":"2022-03-31 22:31:49","post_date_gmt":"2022-03-31 11:31:49","post_content":"\n

                                                      Last year Mcdonald's was the first fast-food chain to join the metaverse<\/a>. Following in its footsteps KFC, Taco Bell, and Pizza Hut have decided to explore the metaverse.<\/p>\n\n\n\n

                                                      Owners of KFC, Taco Bell, and Pizza Hut 'Yum! Brands<\/a>' have submitted multiple trademarks for NFTs and metaverse products and services including; virtual foods and drinks, virtual goods and NFTs, and NFT backed media.<\/p>\n\n\n\n

                                                      Mike Kondoudis, a trademark lawyer tweeted that various applications were filed with the United States Patent and Trademark Office on the 25th of March 2022. <\/p>\n\n\n\n

                                                      Clearly, Yum! Brands sees the potential of the Metaverse and is preparing its trademarks and brands for the virtual economy that will dominate it<\/em><\/p>Mike Kondoudis, From A Recent Press Release<\/a><\/cite><\/blockquote>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/KondoudisLaw\/status\/1509107143080824834?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1509107143080824834%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Ffood-industry-giants-kfc-taco-bell-and-pizza-hut-file-nfts-and-metaverse-trademarks%2F\n<\/div><\/figure>\n\n\n\n

                                                      Restaurants In The Metaverse<\/h2>\n\n\n\n

                                                      These trademark filings \"follow the trend by other participants in the restaurant sector like McDonald's, Burger King, Panera Bread, and Panda Express to begin preparations to participate in the Metaverse\" says Kondoudis.<\/p>\n\n\n\n

                                                      According to a press release<\/a>, Inspire Brands Inc. the owners of Arby's, Baskin Robbins, Buffalo Wild Wings, Jimmy Johns, and Sonic brands have filed several new trademark applications in the last few days.<\/p>\n\n\n\n

                                                      We expect the number of trademark filings for NFTs and virtual products and services from the restaurant and food\/beverage sectors to increase over the next twelve months as companies come to appreciate the need for brand protection in the Metaverse.<\/p>Mike Kondoudis, Press Release<\/cite><\/blockquote>\n","post_title":"KFC, Taco Bell, And Pizza Hut Joining The Metaverse With New Trademarks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kfc-taco-bell-and-pizza-hut-joining-the-metaverse-with-new-trademarks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/10-trademarks-filed-by-mcdonalds-for-the-metaverse\/","post_modified":"2023-04-11 12:49:42","post_modified_gmt":"2023-04-11 02:49:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4194","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4175,"post_author":"1","post_date":"2022-03-31 20:54:40","post_date_gmt":"2022-03-31 09:54:40","post_content":"\n

                                                      OpenSea<\/a> has confirmed that they will be adding support for Solana ($SOL<\/a>) NFTs in April this year.<\/p>\n\n\n\n

                                                      OpenSea is the leading NFT marketplace. To date, OpenSea has sold<\/a> over US$23.5B in NFTs to over 1.4 million traders.<\/p>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/opensea\/status\/1508851483449585670?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1508851483449585670%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnews.bitcoin.com%2Fleading-nft-marketplace-opensea-to-add-solana-support-in-april%2F\n<\/div><\/figure>\n\n\n\n

                                                      The announcement made through Twitter dubbed \"the best kept secret in web3\" shows a bunch of users who are keen on the integration with the Solana Blockchain.<\/p>\n\n\n\n

                                                      Once the integration is completed in April, Solana will join Ethereum ($ETH<\/a>), Polygon ($MATIC<\/a>), and Klaytn ($KLAY<\/a>) as the fourth edition to the NFT marketplace.<\/p>\n\n\n\n

                                                      This news isn't new to some though. <\/p>\n\n\n\n

                                                      Tech blogger Jane Wong had tweeted \"OpenSea is working on Solana integration, as well as Phantom wallet<\/a> support\". Phantom wallet is a popular Solana-based wallet capable of storing cryptocurrencies as well as NFTs, making it a prime choice for the primary wallet to use with OpenSea.<\/p>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/wongmjane\/status\/1486077324630302721\n<\/div><\/figure>\n\n\n\n

                                                      Solana is a Layer 1<\/a> blockchain, like Ethereum. Although, Solana uses Proof-of-History<\/a> as its consensus mechanism compared to Ethereum's Proof-of-Work. This allows Solana to have a throughput of 60,000 transactions per second, compared to Ethereum's current 15 transactions per second. This would make Solana a cheaper network to use, with much lower gas fees<\/a> compared with a blockchain like Ethereum.<\/p>\n\n\n\n

                                                      Solana is up 11.23% today at a price of $124.14, with a 24-hour trading volume of $3,860,298,289 USD.<\/p>\n\n\n\n

                                                      \"Solana
                                                      Solana Price Data on 31st March - Source: CoinMarketCap<\/figcaption><\/figure>\n","post_title":"OpenSea To Support Solana NFTs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"opensea-to-support-solana-nfts","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/blockchain-essentials-application-layer-protocols\/","post_modified":"2023-04-11 12:49:54","post_modified_gmt":"2023-04-11 02:49:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

                                                      The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

                                                      Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

                                                      NFT Scam In The Making<\/h2>\n\n\n\n

                                                      The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

                                                      The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

                                                      Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

                                                      Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4110,"post_author":"1","post_date":"2022-03-26 12:54:51","post_date_gmt":"2022-03-26 01:54:51","post_content":"\n

                                                      Google has filed<\/a> a trademark application for a 'Non-Fungible Planet'. Although it seems that the trademark has less to do with cryptocurrencies and more to do with environmental activism.<\/p>\n\n\n\n

                                                      The filing is an 'educational' campaign aimed at \u201cproviding information about environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts\".<\/p>\n\n\n\n

                                                      The project aims to provide \"educational and entertainment services, namely, providing online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.\"<\/p>\n\n\n\n

                                                      Non-Fungible Planet is implicative of Non-Fungible Tokens (NFTs<\/a>) which have taken the crypto industry by storm in the last few years. Although the filing itself makes no mention of NFTs. Non-fungible can be defined as something that cannot be replicated like for like, so in reference to Google's campaign, this could be that we only have one planet and mustn't spoil it.<\/p>\n","post_title":"'Non-Fungible Planet' Is Google's Newest Trademark Filing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"non-fungible-planet-is-googles-newest-trademark-filing","to_ping":"","pinged":"","post_modified":"2022-03-26 17:43:23","post_modified_gmt":"2022-03-26 06:43:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4110","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4087,"post_author":"1","post_date":"2022-03-24 23:37:18","post_date_gmt":"2022-03-24 12:37:18","post_content":"\n

                                                      In a\u00a0blog post<\/a>\u00a0by Loopring's head of growth, Adam Browman states that \"the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!\"<\/p>\n\n\n\n

                                                      Browman believes that the project \"has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.\" The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.<\/p>\n\n\n\n

                                                      GameStop and NFTs<\/h2>\n\n\n\n

                                                      Rumors circulating since November\u00a0suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal\u00a0reported<\/a> in January\u00a0that GameStop was planning to build a new team focused on NFTs.<\/p>\n\n\n\n

                                                      Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned<\/a> at the time in an SEC filing<\/a>.<\/p>\n\n\n\n

                                                      According to an article from Decrypt<\/a>, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted<\/a> in a thread how they are the \"preferred partner\".<\/p>\n\n\n\n

                                                      Immutable mentioned the Loopring integration \u201cwas not a surprise (and we welcome them!).\" The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the \"preferred partner\".<\/p>\n\n\n\n

                                                      \nhttps:\/\/twitter.com\/Immutable\/status\/1506596126677295108\n<\/div><\/figure>\n\n\n\n

                                                      Since the announcement, $LRC<\/a>, the native token of Layer 2 blockchain<\/a> Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                      $IMX<\/a>, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.<\/p>\n\n\n\n

                                                      The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME<\/a> stocks. Over 24 million GME shares were traded today alone. <\/p>\n","post_title":"GameStop NFT Marketplace Has Entered Beta, Integrated With Loopring","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gamestop-nft-marketplace-has-entered-beta-integrated-with-loopring","to_ping":"","pinged":"","post_modified":"2022-03-24 23:37:42","post_modified_gmt":"2022-03-24 12:37:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4087","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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