Popular trading platform Robinhood is creating a non-prudential crypto wallet that will be compatible with multiple blockchains.
The wallet will be a standalone application with the ability to store non-fungible tokens (NFTs) and connect to the NFT marketplaces. A promotional video released for the wallet shows a demonstration using Ethereum-based NFT.
The application is an important step for the company in providing crypto services. Prior to January 2022, Robinhood crypto trading was a closed system with users unable to withdraw cryptocurrency.
On January 21, Robinhood opened cryptocurrency withdrawals to 1,000 users, allowing them to send cryptocurrency off the platform. This number was later expanded in April to include more than two million waiting list users.
Currently, the wallet is restricted by identity verification and only supports seven assets: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Ethereum Classic (ETC), and Litecoin (LTC). .
LimeWire, the early 2000s peer-to-peer (P2P) file sharing site whose brand is now owned by the NFT market, has secured a deal with Universal Music Group (UMG) for artists to launch NFT projects.
In a statement, UMG said the deal will allow its artists to offer NFTs that feature content such as audio recordings, additional tracks, behind-the-scenes footage, photos and other exclusive materials to sell to fans or collectors.
Holger Kristof, UMG Senior Vice President Digital Business for Central Europe at UMGs, said the company “fully embraces the exciting Web3 space” and will work to create projects of “real benefit”.
The partnership sees the LimeWire brand come full circle, as during the P2P heyday it was a target of music record companies due to users illegally sharing copyrighted content. The original platform was eventually removed in 2010 after losing a court battle against the Recording Industry Association of America.
In March 2022, the brand re-emerged as an NFT marketplace focused on the music industry. Brothers Paul and Julian Zetmayr bought the rights to the name so that it would return “as a platform for, not against, artists”.
Well the OpenSea fake tops bears, it will be crossed
The popular NFT project Okay Bears, the first Solana NFT group to top the 24-hour ratings on OpenSea, inspired an Ethereum-based group called Not Okay Bears.
Not Okay Bears are upside down images of the original 10,000 versions and briefly exceeded the 24-hour size of the original set on OpenSea. DappRadar displays more than $3.2 million in volume over the past 24 hours.
The group was deleted by OpenSea on Tuesday likely due to updated platform policies on groups that mimic others.