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NFTs

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NFTs
Non-fungible tokens (NFTs) refer to units of data stored on a blockchain that guarantees each digital asset to be unique and immutable. Because NFT-based digital items are authenticated via the decentralised technology, they can be owned and traded much like physical items in the real world.
The financial hype behind NFTs may have evaporated, but blockchain technology still has many applications. Photo: Josh Ye
Art

Are NFTs the hero or villain in the contemporary art scene?

In March, Art Basel Hong Kong featured a dedicated space for digital practices, raising the question: what’s next for non-fungible tokens?

Art

Singaporean buyer of US$69 million Beeple NFT opens art and technology space

Banking & finance

Macroscope | How the obsession with risky assets is putting global finance in peril

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Blockchain

Trump’s meme coin draws billions in crypto trading volume

Major exchanges like Coinbase and Binance say they intend to list Trump’s token on their platform, while Melania also unveiled a coin.

US president-elect Donald Trump and his wife Melania visit the Arlington National Cemetery in Virginia on Sunday. Photo: AP Photo
Fame and celebrity

Meet Matteo Milleri, ex to Leonardo DiCaprio’s girlfriend Vittoria Ceretti

The Italian multidisciplinary artist has collaborated with The Weeknd, Bulgari and Grimes, and is one half of the producer-DJ duo Tale of Us, alongside Carmine Conte.

Video gaming

Opinion | Will China’s latest crypto crackdown stifle its gaming industry?

New legal guidelines that classify cryptocurrency transactions as money laundering put digital assets used in popular games in a grey area.

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Blockchain

Web3 firm Animoca Brands trading for as little as a quarter of last valuation

Yat Siu, chairman of the blockchain video gaming firm, said secondary market trading does not accurately reflect the value of the Hong Kong-based company.

Animoca Brands is trading on secondary markets at a valuation that is at least half what it was valued at two years ago, founder Yat Siu said. Photo: Shutterstock
Blockchain

Hong Kong blockchain gaming firm Animoca sets sights on recovery after listless 2023

Animoca’s ability to weather last year’s storm in its industry has bolstered the company’s confidence in the digital-asset market’s recovery.

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Blockchain

Hong Kong blockchain gaming firm Animoca weighing 2025-26 IPO, founder says

Animoca Brands co-founder Yat Siu said he hopes an IPO will bring ‘more attention to Web3’ and Asian markets, with a possible Hong Kong listing.

Banking & finance

Hong Kong a unique proving ground for DeFi, metaverse, HKIMR studies show

DeFi and metaverse will open up opportunities for the financial services industry, Hong Kong Institute for Monetary and Financial Research executive says.

Hong Kong is making a big push to become a virtual asset and Web3 hub. Photo: Shutterstock
Blockchain

US Treasury says NFTs ‘highly susceptible’ to fraud, scams

Some NFT firms and platforms do not have the right controls to counter money laundering, terrorist financing and sanctions evasion, according to the department’s assessment.

Signage for “NFT” seen at the Hong Kong Web3 Festival last year. Photo: Reuters
Art

Token appreciation: will the NFT art market ever bounce back?

‘Art became an auto-generated aesthetic that pushed the artist out of the project,’ notes the Lumiere Project’s Patrice Poujol, whose film company’s NFTs emphasise ‘real access and real experiences’

Art

Profile | The kooky, colourful world of one of Japan’s most successful modern artists

Takashi Murakami’s new Kyoto exhibition – his first large-scale solo show in Japan in eight years – features more than 170 of the contemporary artist’s works – though not all of them are finished.

Art

Bitcoin ordinals mark latest Sotheby’s foray into blockchain art auctions

Sotheby’s has held two successful auctions of bitcoin ordinals – images, videos or text attached to satoshis, the smallest denomination of bitcoin. Some artworks are fetching up to five times their estimates.

Detail from “Genesis Cat” by Far for Taproot Wizards, which sold for US$254,000 against an estimate of US$15,000-20,000. Photo: Sotheby’s
Consumers

China in driver’s seat as Asian men use more cosmetic products, grow beauty industry

A growing demographic of Asian men is increasingly spending more on skincare.

China’s market in particular is poised to drive growth in the skincare and cosmetics category. Photo: Shutterstock Images
China technology

Beijing to draft national Web3 development plan amid strict cryptocurrency ban

China’s Ministry of Industry and Information Technology said a strategic Web3 development plan will be drafted ‘in line with the country’s conditions’.

Donald Trump

Trump sells pieces of suit worn in Georgia mugshot

For US$4,653, supporters get a bit of fabric along with NFT digital trading cards featuring the ex-US president and the chance to dine with him at Mar-a-Lago.

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Hong Kong

Editorial | Injuries at Hong Kong party shine light on UV exposure

Events sector in Hong Kong suffers another blow after some 22 people at NFTs promotion report eye troubles.

UVA-emitting lights likely caused eye and skin problems reported by at least 22 people attending the ApeFest party at Kai Tak Cruise Terminal on Nov. 4. Photo: X/ @BoredApeYC
Hong Kong healthcare and hospitals

UVA light exposure may have caused eye problems at Hong Kong NFT event: organiser

At least 22 people experienced eye pain, vision problems or skin irritation after attending Bored Ape Yacht Club event held over weekend.

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Fintech

Hong Kong virtual insurer OneDegree on track to turn a profit in 2024: CEO

Fintech start-up OneDegree’s optimistic projection stems from the positive performance of the company’s household pet and digital-asset insurance operations.

Hong Kong healthcare and hospitals

22 Hong Kong party-goers report severe eye pain, temporary blindness after NFT event

Organisers of Saturday’s ApeFest party say at least 22 people complained of eye problems after the event.

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A DJ at his brightly lit console at Yuga Labs’ first international ApeFest, which has led to complaints of eye problems among party-goers. Photo: Matt Haldane
Metaverse

Bored Apes descend on Hong Kong amid NFT firm’s bet on Asia

The first ApeFest outside New York drew thousands of people from 60 countries, with support from the Hong Kong government, according to Yuga Labs.

The ApeFest DJ poses at the end of his set on the main stage on November 4. Photo: Matt Haldane
Blockchain

Forget crypto: Hong Kong Web3 events focus on what’s next for blockchain

Major Web3 events in Hong Kong have been focusing more on Web3 usability and use cases like identification, content ownership and video gaming.

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Art

Chinese artist Yue Minjun’s NFTs: a parody or a response to market shift?

Chinese contemporary artist Yue Minjun is launching an NFT collection based on his Laughing Man alter ego with the NFT market crashing. But he says they have long-term value, and a collector backs fine-art NFTs.

Food and Drinks

Blockchain with your burgundy: how NFTs are changing the fine-wine market

Do Web3 and wine mix? Will blockchain technology be a silver bullet when it comes to the complex authentication of premium wines and spirits? The jury remains divided.

Jean-Marie Fourrier of Domaine Fourrier in Gevrey Chambertin, Burgundy, France, is an early adopter of NFTs to sell his wine. Through an online auction house, he hopes to reach more young consumers. Photo: Domaine Fourrier
Blockchain

Animoca Brands pours US$30 million into Hong Kong start-up Hi

The investment by the blockchain game software unicorn comes as funding dwindles for crypto-related start-ups around the world.

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Animoca Brands is investing US$30 million into Hong Kong crypto start-up Hi. Photo: Shutterstock
Fashion

How Hermès got Mason Rothschild ‘MetaBirkin’ NFTs permanently banned

French luxury house Hermès emerges victorious from its US lawsuit, winning a permanent ban on the sales of artist Mason Rothschild’s ‘MetaBirkin’ NFTs that depict the iconic handbag

Cryptocurrency

Three Arrows Capital’s 37 NFTs fetch US$10.9 million at Sotheby’s

The hedge fund, which filed for bankruptcy last year, sold the NFTs for US$10.9 million after buying them in 2021 for US$15.5 million worth of cryptocurrency.

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