NFT News: WeChat Bans NFTs, CryptoPunk #5364 is Sold, NFT Film Funding and New Collaborations

Over the past few days, many new partnerships have been created in the NFT world, young projects have received worthy financial support, and in China, the ban on the crypto industry has influenced the politics of the popular messenger.

Uniswap bought Genie

On June 21, Decentralized Exchange Uniswap bought the NFT marketplace aggregator, Genie.

The exchange intends to integrate NFTs into its product line. The feature will be available on all major marketplaces, developer APIs and widgets.

Genie provides the means to discover, buy and sell NFTs across multiple marketplaces and the ability to buy multiple NFTs in a single transaction to save up to 40% on gas fees.

Chinese WeChat bans NFTs

China’s leading social media platform, WeChat, has taken the decision to block accounts that provide access to cryptocurrency or NFT-related services.

According to the platform’s new policy, accounts associated with the issuance, trading and financing of cryptocurrencies and NFTs will either be restricted or blocked and fall into the category of “illegal business”. The policy also covers the resale of NFTs, said Wu Blockchain, a Hong Kong-based crypto news reporter.

Upon detection of violations, the WeChat public platform will temporarily block the functions of the account and require amendments to be made to eliminate the violation.

“Ukrainian” CryptoPunk sold for 90 ETH

NFT CryptoPunk #5364, which was donated to Ukraine’s crypto fund in March 2022, was sold for 90 ETH (over $104,000 at the time of writing).

Minister of Digital Transformation of Ukraine Mykhailo Fedorov, informing about the sale of NFT, thanked the crypto community for such generous donations.

The buyer’s name remains unknown.

Director Spike Lee offered to finance films with NFTs

According to The Block, director Spike Lee said at an NFT conference in New York that using non-fungible tokens to finance films would bring more democracy to filmmaking.

The director recalled that the people who supported his films in the 1980s are still benefiting from the investment. He also hinted at the imminent launch of the NFT project, but did not disclose any details.

Spike Lee rose to prominence with the release of She Needs It Badly in 1986. Also among his works are such films as “Do the right thing!”, “Not caught – not a thief” and “Black Klansman”, which brought the director an Oscar.

Magic Eden NFT Marketplace Raises $130M in Investments

Solana-powered NFT marketplace Magic Eden raises $130 million in Series B funding round.

The main investors were Electric Capital and Greylock Partners. Also contributing were Lightspeed Venture Partners, Paradigm and Sequoia Capital. They valued the project at $1.6 billion.

The platform appeared less than a year ago, but now it is the third in terms of trading volume in the NFT segment.

The Magic Eden’s team will use the funds raised to develop the NFT P2P marketplace and the Launchpad platform, which helps to issue collections of tokens. They also plan to add support for other blockchains.

The project team consists of about 100 people. The company intends to expand its workforce by about 50% in the next 6 to 12 months, Lu said.

eBay buys NFT marketplace KnownOrigin

On June 21, the American online trading platform eBay bought the British NFT platform KnownOrigin. Details and the amount of the deal have not yet been disclosed.

KnownOrigin said they were impressed with eBay’s willingness to learn, embrace and dive into Web3. According to the KnownOrigin team, the mix of platform and eBay will provide unprecedented opportunities for development.

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