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Yuga Labs and Magic Eden plan to launch the new Magic Eden ETH marketplace before the end of 2023. The startups claim this will be the first major Ethereum marketplace “contractually obligated” to protect creator royalties. Yuga Labs CEO Daniel Alegre says the new ETH marketplace is a win for the web3 ecosystem. Yuga Labs, the Web3 startup behind the popular Bored Ape Yacht Club (BAYC), Otherside, Meebits and CryptoPunks, is partnering cross-chain NFT platform Magic Eden to launch a new Ethereum marketplace . According to an announcement posted today on X, Yuga Labs said the collaboration with Magic Eden is for the launch of Magic Eden ETH marketplace, set to become the first Ethereum NFT marketplace to feature a contractual obligation to protect creator royalties. The blockchain startup expects the marketplace to be live by the end of this year.  Planting something new for all creators. We’re partnering with Magic Eden to launch th...

The latest update of this Web3 security tool addresses new social engineering schemes and hacking attacks. Web3 and other blockchain-powered markets are still in their infancy, with most of the underlying technologies, economic models and coding architectures still being improved, tested and updated. While this is normal for an emerging market and technology, there are always loopholes that bad actors can exploit and target to attack their victims. In particular, with social engineering tactics, scammers manipulate users’ emotions and create a sense of trust and urgency. At the beginning of 2023, bug bounty platform Immunefi estimated that the Web3 ecosystem lost around $3.9 billion to scams and hacking attacks in 2022, with decentralized finance (DeFi) being the most targeted sector, suffering 80% of the calculated losses. Losses by quarter in 2022. Source: Immunefi Report ​​In the ever-evolving landscape of blockchain technology, two pivotal issues stand out that demand users’ atten...

This Web3 tool provides comprehensive protection against malicious smart contracts, phishing sites and other security threats. Web3 implies the transition of data from servers controlled by centralized entities to community-driven decentralized infrastructures. Every major transformation is a gradual process with many challenges and can be exploited by malicious actors. The same is true for Web3, which is plagued with social engineering attacks and security breaches as it advances toward a cohesive global infrastructure. As per Chainalysis’ latest crypto crime report, 2022 was a record year for crypto and Web3 hackers, with $3.8 billion stolen from various crypto projects — mostly decentralized finance protocols such as bridges. While scam revenue dropped by 46% compared to 2021, it’s still a matter of concern. Web3 needs security tools to accelerate adoption while keeping users protected against hackers and scammers. Thankfully, the industry already has some robust security tools tha...