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[9] [10] [11] ERC-721: Non-Fungible Token Standard is credited with formalizing and defining the term NFT. [ 12 ] During the standard's drafting phase, lead author Entriken held a vote among the stakeholders where different words were considered including deed, title and asset, but ultimately "NFT" was chosen for the standard's final publication.
In April 2023, Solana Mobile, a subsidiary of Solana Labs, [11] began selling the Solana Saga, an Android smartphone with several Solana-based decentralized apps preinstalled. [ 12 ] In June 2023, the SEC sued Coinbase , alleging that Solana and twelve other currencies offered by the platform failed the Howey Test and qualified as securities.
During the height of the breakout success of CryptoKitties and the emergence of ERC-721 tokens in 2017, an NFT marketplace called OpenSea emerged to capitalize off of the new non-fungible token standard. [46] It positioned itself early in the NFT market landscape and grew to a $1.4 billion market cap in 2021 during the then-ongoing NFT boom. [47]
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Coinbase adds value to the NFT marketplace with a new social media dimension. “We’re designing for social engagement,” claims the company. “We’re adding social features that open new ...
Bored Ape Yacht Club (BAYC), often colloquially called Bored Apes or Bored Ape is a non-fungible token (NFT) collection built on the Ethereum blockchain with the ERC-721 standard. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm.
On April 25, 2022, OpenSea announced the acquisition of the NFT marketplace aggregator company Gem.xyz. [24] On June 30, 2022 OpenSea reported a major email data breach had occurred when a senior engineer at an email vendor, Customer.io, misused his employee access to download and share OpenSea user email addresses with an "external bad actor."
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