Robinhood’s popular trading platform is to create a non-custodial cryptocurrency wallet that will be compatible with many blockchains.
The wallet will be a standalone application with the ability to store unmodified tokens (NFTs) and connect to NFT marketplaces. An introductory video released for the wallet shows demonstrations using Ethereum-based NFT.
Join and exchange cryptocurrencies free of charge. Web3 wallet from us. Get access early: https://t.co/qonXj80BEB image.twitter.com/qLjByPA4ty
– Robinhood (@RobinhoodApp) May 17, 2022
The program is an important step for the company in providing cryptographic services. Prior to January 2022, cryptocurrency trading on Robinhood was a closed system where users could not withdraw cryptocurrency.
On January 21, Robinhood opened 1,000 cryptocurrencies to users, enabling them to send cryptocurrencies from the platform. This number was later expanded in April to more than 2 million users on the waiting list.
Currently, the wallet is limited by the authentication process and supports only seven assets: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Ethereum Classic (ETC) and Litecoin (LTC) .
LimeWire, a peer-to-peer (P2P) file sharing website since the beginning of 2000, whose brand is now owned by NFT Marketplace, has secured a contract with Universal Music Group (UMG) for artists to launch NFT projects.
In a statement, UMG said the agreement would allow its artists to offer NFT images that include content such as sound recordings, bonus tracks, backstage recordings, images and other unique content to sell to fans or collectors.
As part of this new collaboration, UMG artists can now offer sound recordings, audio and video material, backstage recordings as well as other works of art owned by NFT @LimeWire marketplace and sell them directly to fans and collectors in a safe and secure environment. https://t.co/oshxryaRAe
– Universal Music Group (@UMG) May 17, 2022
Holger Christoph, Head of Digital Business at UMG for Central Europe UMG, said that the company “fully accepts the exciting Web3 space” and will work to create a project with “real utility”.
The partnership sees the LimeWire brand come full circle as in its heyday of P2P, it was a target for music publishing because users shared illegal content. The original platform was finally taken down in 2010 after losing a lawsuit against the Recording Industry Association of America.
In March 2022, the brand returned as an NFT marketplace focusing on the music industry. Brothers Paul and Julian Zehetmayr bought the rights to the name so that it would return “as a platform for artists, not against them.
Okay Bears tops OpenSea, will be delisted
The popular NFT project Okay Bears, the first Solana NFT collection to top the 24-hour series on OpenSea, has been an inspiration for the Ethereum based collection called Not Okay Bears.
Not Okay Bears are flipped photos of the 10,000 original releases and briefly went beyond 24 hours volume of the original collection on OpenSea. DappRadar shows over $ 3.2 million in volume over the last 24 hours.
The museum was delisted by OpenSea on Tuesday, probably due to the forum’s updated policy on museums that mimic others.
More great news:
Linktree, the popular app used on social media to display a directory, has launched support for NFTs through partnership with OpenSea so users can view NFT galleries and profile pictures and allow cryptocurrencies to connect to a user’s Linktree profile.
The Sandbox metaverse has partnered with South Korean entertainment company Studio Dragon to develop a Korean drama series within the Sandbox metaverse; Studio Dragon will create a new NFT for the partnership.
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