Robinhood launches a Web3 wallet, LimeWire inks trade Universal, and more

Popular trading platform Robinhood is creating a no-custodial crypto wallet that will be compatible with multiple blockchains.

The wallet will be a standalone application with the ability to store non-fungible tokens (NFTs) and connect to NFT marketplaces. A promo video released for the wallet shows a demonstration using Ethereum-based NFTs.

The app marks a significant step for the company in providing crypto services. Prior to January 2022, trading crypto on Robinhood was a closed system that did not allow users to withdraw cryptocurrency.

On Jan. 21, Robinhood opened crypto withdrawals to 1,000 users, allowing them to send crypto from the platform. That number was later expanded in April to include the more than 2 million users on a waiting list.

Currently, the wallet is restricted by an identity verification process and only supports seven assets: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Ethereum Classic (ETC), and Litecoin (LTC). ).

Limeys

LimeWire, an early 2000’s peer-to-peer (P2P) file-sharing website whose brand now owns an NFT marketplace, has struck a deal with Universal Music Group (UMG) to allow artists to share NFT projects can start.

In a statement, UMG said the deal would allow its artists to offer NFTs with content such as audio recordings, bonus tracks, backstage shots, images and other exclusive material to sell to fans or collectors.

Holger Christoph, UMGs Senior Vice President of Digital Business for Central Europe, said the company “fully embraces the exciting Web3 space” and will work to create projects with “real value”.

The partnership brings the LimeWire brand full circle as it was a target for music labels during its P2P heyday as users illegally shared copyrighted content. The original platform was eventually shut down in 2010 after losing a lawsuit against the Recording Industry Association of America.

In March 2022, the brand made a comeback as an NFT marketplace with a focus on the music industry. Brothers Paul and Julian Zehetmayr bought the rights to the name so it would return “as a platform for artists, not against them”.

Okay Bears imitation outperforms OpenSea and is removed from the list

The popular NFT project Okay Bears, Solana’s first NFT collection topping the 24-hour leaderboard on OpenSea, has inspired an Ethereum-based collection called Not Okay Bears.

Not Okay Bears are mirrored images of the original 10,000 versions and short surpassed the 24-hour volume of the original collection on OpenSea. DappRadar shows over $3.2 million in volume over the last 24 hours.

The collection was dropped from OpenSea on Tuesday, likely due to the platform’s updated policy on collections impersonating others.

More nifty news:

Linktree, the popular app used on social media to showcase a link directory started Support for NFTs through a partnership with OpenSea, allowing users to showcase an NFT gallery and profile picture, and allowing crypto wallets 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 set within the sandbox metaverse. Studio Dragon will shape new NFTs for collaboration.