Nearly $30 billion was spent on NFTs last year, according to analytics firm Chainalysis, and one of the companies that’s benefitted from the boom is OpenSea. The firm has a $13 billion valuation thanks to its well-timed entry into the hot new sector, becoming one of the biggest NFT marketplaces in the world. With success has come headaches, as scam artists began to target NFTs and the people who buy and sell them. Now the four-year-old New York firm and other marketplaces are struggling to find a balance between boomtown and lockdown. Continue reading Cybercriminals Target NFTs on OpenSea, Other Marketplaces

Non-fungible tokens (NFTs) have been generating headlines, most recently when graphic designer and self-taught artist Mike Winkelmann (also known as Beeple) sold a digital image online at Christie’s auction house for $69.3 million. It was also the most expensive digital asset to ever sell with a “digital certificate of authenticity,” otherwise known as an NFT. The blockchain-based assets differ from cryptocurrencies such as Bitcoin in that each NFT is a “singularly unique marker for the digital asset it tags.” Hence the uproar in the art world over Beeple’s record-breaking sale. Continue reading Digital Collage Sells for a Record $69.3 Million at NFT Auction

The aging pay phones of New York City are getting a digital makeover. Mayor Bill de Blasio’s office announced a five-borough “LinkNYC” plan to give New York City residents access to free and fast Internet service. The “Link” devices, installed as replacements to the city’s 6,400 coin-operated pay phones, will also provide free phone calling and a free charging station. City officials expect the digital advertisements on the Link devices to bring in at least $20 million in annual ad revenue. Continue reading New York City Plans to Transform Pay Phones into Wi-Fi Hubs