ArDrive Saves All NFT.NYC Artwork on World's First Permanent Cloud
Arweave based app ensures all NFT.NYC creations are securely and immutably stored on permanent cloud AR.IO
ArDrive, the storage app of AR.IO, the world's first permanent cloud network built on the Arweave blockchain, has partnered with NFT.NYC to permanently and immutably store creators' artwork, forever.
Alongside OneHub, which helps creators connect with their fans to monetize their NFTs, the leading annual non-fungible token event - live in New York City 25-26 June 2025 - has given all artists submitting work to this year's show access to ArDrive.
The decentralized storage app safely stores data on-chain in a way that proves the origin and ownership of a creators' work regardless of how it may be copied or misused, resisting current AI trends and placing power back in the hands of artists. Thanks to Arweave's 'pay-once-store forever' model, nothing stored through ArDrive and on AR.IO can ever be lost.
ArDrive recently saved NIke's NFT collections from oblivion after they disappeared from a centralized cloud provider earlier this year. Additionally, ArDrive and AR.IO have also preserved the CrypToadz, Degenerate Ape Academy, and Solana Monkey Business NFT collections.
Commenting on ArDrive's partnership with NFT.NYC, the app's founder Phil Mataras says: 'Preserving NFT.NYC artwork permanently aligns with our mission to get forever data storage in the hands of everyone, and ensures creators own their work and legacies without compromise. We're proud to help protect artistic expression from the fleeting nature of Web2.'
Notably, most digital art is not stored on-chain, making it susceptible to censorship, deletion, and loss. With over 18 million files permanently stored in the last five years, ArDrive has permanently preserved almost 2,000 pieces of art, which are now censorship-resistant, tamper-proof and verifiable, helping digital art to endure.
Around 12 million users are projected to own NFTs by the end of 2025, and as the digital art ecosystem matures, permanence has become a critical missing layer. ArDrive is raising awareness of this issue through sponsorship of NFT.NYC where it is giving creators the ability to permanently store and preserve their art for generations to come.
About ArDrive
ArDrive is the leading decentralized storage app on AR.IO, the world's first permanent cloud network built on Arweave. Designed for creators, developers, and everyday users, ArDrive makes it easy to store, organize, and share your most important files, forever. Whether you're preserving NFTs, AI datasets, or critical documents, ArDrive ensures your data is immutable, censorship-resistant, and accessible for generations to come.
To learn more about ArDrive, users can visit https://ardrive.io and follow @ardriveapp on X
About AR.IO
Supported by the Arweave permaweb, AR.IO is the first permanent cloud network, enabling decentralized and censorship-resistant access to data, storage and domains that never disappear. By decentralizing access, AR.IO ensures that information remains permanently available, tamper-proof, and free from centralized control. Its incentivized gateway network enhances reliability, while the Arweave Name System (ArNS) introduces self-sovereign, permanent domains that never expire and never need renewing. AR.IO empowers developers, creators, and businesses to build on a truly resilient, open internet.
Contact
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
44 minutes ago
- Yahoo
Why Nike stock is soaring despite a looming billion-dollar tariff hit and its CEO saying sales are ‘not up to the Nike standard'
stocks soared Friday, despite a 12% revenue slump in the fourth quarter. CEO Elliott Hill told analysts Thursday he expects a better fiscal year ahead, albeit one that begins with a tariff-fueled cost increase estimated at $1 billion. Nike leadership braced investors for tariff-fueled cost increases and smaller margins during the sportswear company's Q4 earnings call Thursday. Still, shares soared 15% on Friday following a better-than-feared quarterly report. Adjust earnings per share tumbled 86% to 14 cents, beating Wall Street forecasts by a penny. Revenue dropped 12% to $11.1 billion, above views for $10.7 billion. CEO Elliott Hill said on the call with analysts that earnings were 'not up to the Nike standard,' but he's optimistic in the company's turnaround strategy. Meanwhile, CFO Matt Friend estimated that tariff costs will be about $1 billion and told analysts that Nike will 'fully mitigate' that amount over the next fiscal year by reducing U.S. imports of China-produced products, implementing price increases starting in the fall, and reducing corporate costs. The company said gross margins fell in Q4, primarily due to steeper discounts, and Nike leadership expects margins for fiscal year 2026 to decrease even further, 'with a greater impact in the first half.' President Donald Trump and his Commerce Secretary Howard Lutnick announced Thursday the administration reached a trade deal with China, though 30% tariffs will remain. Currently, about 16% of Nike's footwear imports come from China, and Friend expects this 'to reduce to the high-single digit range by the end of fiscal '26, with supply from China re-allocated to other countries around the world.' 'Despite the current elevated tariffs for Chinese products imported into the United States, manufacturing capacity and capability in China remains important to our global source base,' he added. In a note following the earnings report, Goldman Sachs analysts wrote they were 'incrementally encouraged' by Nike's better-than-expected fourth quarter and Hill's strategic plans. But brand skeptics remain. 'Nike has ended a tough fiscal year on a rather discordant note,' Neil Saunders, managing director of GlobalData, wrote in a Friday note. 'While the sportswear giant beat expectations, it also put in a deteriorated sales performance that suggests that it continues to fall out of favor with consumers.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Nike price target raised to $85 from $73 at Truist
Truist raised the firm's price target on Nike (NKE) to $85 from $73 and keeps a Buy rating on the shares after its Q4 results. The company's turnaround efforts are yielding more rapid improvements than investors were anticipating as channel inventories are getting cleaned up and with holiday orderbooks rising y/y, the analyst tells investors in a research note. While visibility into a return to sales growth and margin recovery appears meaningfully stronger, the stock is still down 15% from where it traded prior to the initial announcement that Elliott Hill was taking over as CEO in September, but with the worst of fundamental pressures appearing to be in the rear-view, there is plenty of room to run, the firm added. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on NKE: Disclaimer & DisclosureReport an Issue Nike's Strategic Positioning and Growth Potential Earns Buy Rating Despite Revenue Decline Nike price target raised to $88 from $80 at Baird Nike price target raised to $80 from $70 at Piper Sandler Options Volatility and Implied Earnings Moves Today, June 27, 2025 Nike price target raised to $64 from $56 at JPMorgan Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Trending tickers: latest investor updates on Nike, Xiaomi, Cyngn, Spotify, Core Scientific and Unilever
Nike (NKE) shares surged by almost 10% in after-hours trading, fuelled by growing investor optimism that the company's long-awaited turnaround strategy may finally take hold, even as it posted its worst quarterly earnings in over three years. On Thursday, the Oregon-based sportswear giant reported fourth-quarter revenues of $11.1bn (£8bn), surpassing analyst expectations, though it marked the lowest revenue figure since Q3 2022. Net income plummeted 86% to $211m, or 14 cents per share, compared to $1.5bn, or 99 cents per share, in the same period last year—yet still exceeded Wall Street forecasts. Nike's (NKE) chief executive Elliott Hill said: 'The results we're reporting today in Q4, and in FY 25 are not up to the Nike standard." The company also warned that US president Donald Trump's trade tariffs could cost it around an extra $1bn. Amid these results, Mamta Valechha, a consumer discretionary analyst at Quilter Cheviot, remained cautious. 'Nike (NKE) continues to slump, with its fourth quarter the worst in at least two decades. Sales were down 12%, while its operating margin was a meagre 2.9%. The sales themselves had actually come in ahead of really low expectations, producing an earnings beat.' Read more: FTSE 100 LIVE: Stocks higher as US and China sign trade agreement, US says 10 deals imminent Valechha pointed to underlying challenges, adding: 'These troubling numbers, though, suggest that Nike (NKE) may nearly be at rock bottom. The share price rallied strongly in after-market trading as investors are beginning to expect a positive rate of change going forward. It has been a difficult period for Nike following the pandemic, and the threat of tariffs simply is not helping the situation for the company.' Though the company's outlook for the coming quarter remains grim, Valechha noted that the road to recovery would likely be gradual. 'It will be a slow recovery, however. Management is expecting further sales declines and record-low operating margins for Q1. That said, it is setting itself a low bar, hoping to give itself room for manoeuvre and the ability to beat expectations from investors and begin to drive positive momentum back into the business.' Nike's (NKE) strategy to clean up inventory levels and reduce discounting could be pivotal in driving future growth. However, Valechha said that fresh, in-demand product launches are crucial. 'Ultimately, Nike needs to produce new products that people want to buy, bringing about increased demand to help bring sales back to the company. The green shoots of recovery are beginning to show themselves in some divisions, but more could soon be on the way.' Shares of Hong Kong-listed Xiaomi ( surged more than 5% to reach a record high on Friday before closing with 3.6% gains, following an overwhelming customer response to its new electric vehicle (EV). The consumer electronics giant, which has quickly expanded into the EV market, is now directly challenging Tesla (TSLA) with its latest offering, the YU7 electric luxury SUV. On Thursday, CEO Lei Jun revealed that the YU7's starting price would be 253,500 yuan ($35,322), undercutting Tesla's (TSLA) Model Y by 10,000 yuan. Tesla's Model Y starts at 263,500 yuan in China. Lei's announcement comes as part of Xiaomi's ( broader strategy to become a serious player in the electric vehicle sector, which has seen intense competition from industry leaders like Tesla. According to Xiaomi ( the YU7 received more than 200,000 orders within just three minutes of its official launch, a sign of the growing consumer appetite for EVs, especially those offering more affordable alternatives to established brands. Ahead of the vehicle's price revelation, analysts at Citi had forecasted that the YU7 would be priced between RMB 250,000-320,000 ($34,800 to $44,590), with expected monthly sales of around 30,000 units. Citi further predicted that as sales gain momentum, Xiaomi ( could reach annual sales figures of between 300,000 and 360,000 units. Cyngn (CYN) shares closed 1271% higher on Thursday and were 30% higher in pre-market trading, after the industrial automation company revealed a partnership with Nvidia (NVDA). The collaboration will see Cyngn's (CYN) vehicles, powered by Nvidia's (NVDA) Isaac robotics platform and the company's proprietary DriveMod software, change automation across industries such as logistics and manufacturing. The partnership is designed to enhance operational safety and efficiency within commercial operations. Cyngn's (CYN) announcement came ahead of its participation at Automatica 2025, a global robotics event where the company, along with several other robotics firms, will demonstrate Nvidia-powered technologies. Automatica is regarded as a prime stage for unveiling AI-driven systems in real-world industrial settings. The meteoric rise in Cyngn's (CYN) stock price marks a stark contrast to the company's recent struggles. Over the past 12 months, Cyngn had endured a near-total loss of its market value, driven by a series of setbacks that included delisting risks and disappointing earnings results over four consecutive quarters. However, the company has since regained Nasdaq (^IXIC) compliance in March 2025, paving the way for its dramatic comeback. Investors are now hoping that this partnership with Nvidia (NVDA) will mark the beginning of a sustained recovery for Cyngn (CYN). Spotify's (SPOT) shares were trading higher ahead of the US market open, following a 5% increase in the previous session, as analysts raised their price target in anticipation of the company's Q2 earnings report. Guggenheim Securities analyst Michael Morris reaffirmed his 'buy' rating on the stock and lifted his 12-month price target to $840 from $725. In a note to clients on Wednesday, Morris expressed confidence in Spotify's (SPOT) growth trajectory. 'Our conviction in the mid- and long-term growth opportunity at the global streaming audio leader remains intact,' he said. Morris highlighted several factors fuelling his optimism, including Spotify's (SPOT) 'core pricing power, potential tier expansion, expanded delivery of audio formats (led by audiobooks and podcasts), and the early-stage commerce opportunity presented by app-store changes". Read more: Why BP could still be a target as Shell quashes takeover rumours Spotify (SPOT) stock reached a milestone on Wednesday, achieving its third consecutive record high. The company is set to release its second-quarter 2025 results and shareholder presentation on Tuesday, 29 July, before the market opens. Core Scientific (CORZ) shares saw a significant boost ahead of the US market open, following a 35% rally on Thursday triggered by a Wall Street Journal report revealing that artificial intelligence infrastructure vendor CoreWeave (CRWV) is in talks to acquire the bitcoin (BTC-USD) mining and hosting provider. The stock was briefly halted after the news broke, then resumed trading with its second-largest rally since Core Scientific's (CORZ) return to the Nasdaq (^IXIC) in January 2024, following a successful reorganisation. The company's biggest one-day jump came in June 2024, when shares surged 40% after the announcement of a major AI business expansion with CoreWeave (CRWV). According to the Journal, citing sources familiar with the situation, a potential transaction could be finalised in the coming weeks, pending any unforeseen obstacles. The deal would deepen an existing partnership between the two companies, which already includes billions of dollars in contracted commitments. With Thursday's surge, Core Scientific (CORZ) now has a market capitalisation of nearly $5bn, approximately five times the valuation implied by CoreWeave's (CRWV) previously rejected takeover bid from last year. Meanwhile, CoreWeave's stock fell by about 1% on Thursday. Unilever (ULVR.L) is paying $1.5bn to acquire US-based personal care brand Dr Squatch, according to the Financial Times. The FTSE 100-listed (^FTSE) company announced the acquisition on Monday, purchasing Dr Squatch from private equity firm Summit Partners for an undisclosed sum, though sources familiar with the transaction have confirmed the $1.5bn price tag. The deal signals the consumer goods giant's continued focus on upmarket, higher-growth sectors, despite its previous setbacks with razor subscription service Dollar Shave Club. Dr Squatch, known for its "natural" soaps, deodorants, shampoos, and other personal care products, has carved out a niche in the competitive male grooming market. The brand has built momentum through viral marketing campaigns and celebrity endorsements, including an ad with Hollywood actress Sydney Sweeney in a bubble bath and another with boxing legend Mike Tyson taking an ice bath. The brand's products are sold directly to consumers through its website and through third-party retailers, helping it establish a direct-to-consumer business model that has been integral to its rapid growth. For Unilever (ULVR.L), the acquisition marks an effort to recalibrate its portfolio by investing in categories with higher growth potential, particularly in the premium and natural personal care segments. This follows a series of strategic acquisitions aimed at bolstering its position in the fast-growing male grooming in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
