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  Argentinian low-cost airline Flybondi has partnered with NFT ticketing firm TravelX to launch Ticket 3.0, a service that issues electronic tickets as non-fungible tokens (NFTs). The NFTs can be transferred, sold and changed by passengers independently of Flybondi, and the technology is built on Algorand's blockchain. Ticket 3.0 will provide Flybondi passengers with a more flexible travel experience that reduces the airline's customer service costs and generates increased revenue from trading fees.

  Binance, the world’s largest cryptocurrency exchange, is facing a lawsuit from the US Commodity Futures Trading Commission (CFTC) alleging that it evaded US laws by failing to register in the country and allowing Americans to trade crypto derivatives. Binance CEO Changpeng Zhao has denied the allegations, but investors using the platform have withdrawn $1.6 billion. If the CFTC suit is successful, it could result in significant fines and a possible ban on Binance’s ability to register as a derivatives trader in the US, dealing a serious blow to Binance’s derivatives revenues. The lawsuit has led to significant uncertainty for Binance and may have broader implications for the cryptocurrency industry.

  Walt Disney Co. has announced the elimination of its metaverse division, as part of a larger restructuring effort that will reduce the company's workforce by 7,000 employees in the coming months. The metaverse division was tasked with developing strategies to integrate Disney's extensive library of intellectual property into immersive, interactive storytelling formats using web3 technology. The team of about 50 members have reportedly lost their jobs, while the future of the division's head, Mike White, remains uncertain. Disney's decision to shut down the metaverse division follows a broader trend in the entertainment industry, with companies like Facebook (now Meta) investing heavily in web3 technology and the metaverse.

  The IRS plans to tax certain NFTs as collectibles, resulting in higher tax rates for wealthy owners compared to other assets like stocks or real estate. The federal government imposes a maximum tax rate of 28% on collectibles held for over a year, compared to a maximum rate of 20% on other investments. The IRS intends to issue guidance on the treatment of specific NFTs as collectibles and has requested feedback from the public. Comments are due by June 19.

  Ordinal Inscriptions and the ability to mint content other than transactions on the Bitcoin network have taken the blockchain by storm, with over 154,000 inscriptions being made to date, according to Dune analytics. Now, a developer has made the Ordinals project work for the proof-of-work blockchain Litecoin. Launched in 2011, Litecoin is a peer-to-peer cryptocurrency that is meant to process transactions faster than Bitcoin. Charlie Lee, a former Google employee, made Litecoin. He sold all of his Litecoin in 2017 to avoid potential conflicts of interest. Indigo Nakamoto, a fake Twitter user, offered 5 LTC (around $500) to anyone who could move Ordinals to the Litecoin blockchain on February 10. On Sunday, software engineer Anthony Guerrera started the Litecoin Ordinals project on GitHub. He did this by forking the Bitcoin Ordinals repository that Casey Rodarmor posted in January.

 In a tweet from February 16, KnownOrigin, eBay's nonfungible token (NFT) marketplace, said that it will start using creator smart contracts for its artists. As co-creators, artists can now share profits and get royalties under the new deal. According to KnownOrigin, users have been testing the Creator Contract beta release for the past few weeks. So far, 84 contracts have been deployed and 250 editions of NFTs have been made. From February 24, all approved KnownOrigin creators will be able to deploy and mint their own work for public distribution. No coding skills will be needed for deployment. In June 2022, eBay bought KnownOrigin for an amount that is not known. The Ethereum-based platform wants to "empower artists and collectors by giving them the ability to promote, sell, and buy unique, authorized digital things," says the platform's co-founder, David Moore. Since May 2021, NFT listings have been allowed on eBay's direct marketplace. The business hasn't ...