NFT News by Thebittimes.Com

The NFT project doodles is looking to go beyond being an NFT project, with plans to become a "leading media franchise." Identity crisis: Cofounder of doodles says it’s not an NFT project One of the co-founders of nonfungible token (NFT) project doodles says it is going to pivot away from being an “ NFT project ” to becoming a “leading Media franchise.” In a March 18 post on the project’s Discord, one of the doodle’s founders, Jordan Castro — who goes by the pseudonym “poopie” online — said it wanted to move away from financial speculators. “We’re trying to go from a startup to a leading media franchise. We are no longer an ‘NFT project,’” said Castro. Castro’s Discord post explaining doodles move to be a media franchise. Source: Discord Doodles was launched in October 2021 and has grown to reach a $704 million valuation according to a September 2022 funding round. The collection also boasts iconic musician Pharrell Williams as its chief brand officer. Going forward, Castro ...

Join Our Telegram channel to stay up to date on breaking news coverage In an extremely positive turnaround for Solana token holders, according to Solana Compass, Alameda no longer controls the hundreds of millions of dollars of SOL token s . Instead, Alameda Research liquidators now do. The platform tracks SOL’s trading activities using on-chain metrics. Alameda Research previously held 48,636,772 SOL token s, according to the Solana tracking platform. The controlled token s are now worth more than $643,000,000. The recent market conditions have resulted in a 95% drop in the price of SOL from its all-time high of $259. Meanwhile, members of the Twitter community speculate that Alameda Research controls 13% of the total Solana supply. Solana Compass has refuted the notion that Alameda’s large holdings of SOL could lead to massive selling pressure. According to Solana Compass, the locked token is subject to chapter 11 bankruptcy and may not be unlocked until the liq...

Join Our Telegram channel to stay up to date on breaking news coverage A well-known CEO who was driving the crypto industry’s push into mainstream finance saw a spectacular tumble. A 30-year-old entrepreneur named Sam Bankman-Fried turned FTX, a cryptocurrency exchange, into a $32 billion business over the course of the previous two years. He invested hundreds of millions of dollars to support faltering cryptocurrency companies. And he became into both a frequent and appreciated presence in the hallways of Congress as well as a significant political donor to Joseph R. Biden Jr.’s presidential campaign. Then, in a matter of days, Mr. Bankman-Fried found himself in need of bailout, mostly as a result of the rival’s tweets that questioned the stability of FTX’s firm. The tweets ultimately started a three-day bank run that cost an estimated $6 billion and plunged FTX into trouble. Changpeng Zhao, the competitor and CEO of Binance, a larger cryptocurrency ex...