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May 19, 2022
ROBINHOOD IS PREPARING TO OFFER A WEB3 WALLET, WHILE LIMEWIRE HAS SIGNED A PARTNERSHIP WITH UNIVERSAL.
The Robinhood wallet will be noncustodial and multichain, letting users to store NFTs as well as access to NFT marketplaces.
Robinhood, a popular trading site, is developing a noncustodial cryptocurrency wallet that will work with different blockchains.
The wallet will be a standalone application that can store nonfungible tokens (NFTs) and connect to NFT exchanges. A demo of Ethereum-based NFTs is shown in an advertising movie for the wallet.
The app represents a huge step forward in the company’s crypto offerings. Trading cryptocurrencies on Robinhood was a closed system before January 2022, with customers unable to withdraw bitcoin.
On January 21, Robinhood allowed 1,000 users to withdraw cryptocurrency from the site. In April, the figure was increased to include more than 2 million people the waiting.
The wallet now only supports seven assets: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Ethereum Classic (ETC), and Litecoin (LTC) (LTC).
LimeWire, a peer-to-peer (P2P) file-sharing network that is currently controlled by an NFT marketplace, has inked an agreement with Universal Music Group (UMG) allowing artists to start NFT projects.
UMG stated in a statement that the partnership will allow its artists to sell NFTs including audio recordings, additional tracks, backstage film, photographs, and other exclusive materials to fans and collectors.
UMG’s senior vice president of digital business for Central Europe, Holger Christoph, said the company is “totally embracing the exciting Web3 field” and would endeavor to develop initiatives that provide “true usefulness.”
The deal brings the LimeWire brand full circle since users illegally sharing stolen content made it a target for music companies during its P2P heyday. After losing a legal dispute with the Recording Industry Association of America, the original site was shut down in 2010.
The brand resurfaced in March 2022 as a music-focused NFT marketplace. The rights to the moniker were purchased by brothers Paul and Julian Zehetmayr in order for it to resurface “as a platform for artists, not against them.”
Okay Bears rip-off wins OpenSea and is delisted.
Okay Bears, the first Solana NFT collection to top the OpenSea 24-hour rankings, has spawned a fork called Not Okay Bears, which is based on Ethereum.
Not Okay Bears have reversed photos of the 10,000 original versions that momentarily outstripped the original collection’s 24-hour volume on OpenSea. The volume on DappRadar during the previous 24 hours is above $3.2 million.
OpenSea delisted the collection on Tuesday, most likely as a result of the platform’s new regulations on collections that copy others.
Through cooperation with OpenSea, Linktree, the popular tool for displaying a link directory on social media, has added support for NFTs, allowing users to display an NFT gallery and profile photo, as well as connect crypto wallets to their Linktree profiles.
The Sandbox metaverse has teamed up with Studio Dragon, a South Korean entertainment company, to create a Korean drama series for the Sandbox metaverse; Studio Dragon will issue additional NFTs as part of the partnership.