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🖼 Google Play Store officially allows NFT games, but not gambling ones
The Google Play store now allows video game publishers to sell nonfungible token (NFT) games in its store, according to a July 12 blog post from the store’s group product manager, Joseph Mills. In the post, Mills states that Google Play is “pleased to share that we’re updating our policy to open new ways to transact blockchain-based digital content within apps and games on Google Play,” including “boosting user loyalty through unique NFT rewards.” Google Play banned crypto mining apps from its store in 2018 and removed the Bitcoin Blast video game for “deceptive practices” in 2020. Apple’s App Store stated in October that NFTs purchased outside of the App Store cannot offer any special benefits to users in a game, or else the game will be banned. In addition, NFTs sold through Apple’s App Store version of a game must pay a 30% fee to Apple. These actions and statements caused many industry experts to believe that mobile NFT games were under attack. However, the new policy from Google Play makes clear that these games are welcome on Android devices, as long as they follow a few rules.
NFTs | DeFi | News
🖼 Sound Raises $20 Million, Opens Music NFT Platform to All Artists
On-chain music startup Sound.xyz has confirmed the public launch of its new artist-first NFT platform alongside a further $20 million in Series A funding led by Andreessen Horowitz. Rapper and noted NFT aficionado Snoop Dogg—who has released music via Sound—also participated in the round, according to the company. OneDirection musician Ryan Tedder, who similarly released music on Sound via his Bored Brothers side project, also participated. Founded in 2021, Sound allows musicians to upload their songs to the on-chain platform and sell them for whatever price they want. Over the past 12 months in closed beta, Sound has paid out $5.5 million in total to 500 artists, who have collectively released some 1,600 songs as music NFTs. From today, any artist can now upload their music to Sound and retain 100% ownership. Sound lets artists mint NFTs on the Ethereum mainnet, as well as scaling network Optimism. David Greenstein, co-founder of Sound.xyz, started his career in music and tech with an internship at Atlantic Records, the label behind artists like Charli XCX, 100 Gecs, and Ed Sheeran. Greenstein believes the answer is Sound, which he hopes will become “the homepage of music discovery.”. Greenfield compared the NFTs to “digital vinyl,” with those collected tracks available to display.
NFTs | DeFi | News
🖼 NFT Ether Project Will Airdrop NFT Capsule To Holders 1 Free 1
Ether of the NFT project revealed plans to address the imbalance between miners, secondary buyers, and holders, as well as resolve price disparities among existing holders who have not participated in the valuation of new mint types. To accomplish this, the project will distribute Ether Capsules to each owner in a 1:1 ratio through an upcoming airdrop. This means that every holder will receive one free Ether Capsule for each Ether Capsule they currently possess, once the airdrop snapshot is completed. The airdrops will encompass whitelisted miners, including those who are either locked or paid, secondary market participants, and semi-public miners. Mark your calendars, as the airdrop is scheduled to take place on July 12 at 7:30 AM PST. This initiative aims to foster inclusivity and ensure that various stakeholders in the NFT Ether ecosystem receive their fair share of benefits. Additionally, to address the remaining supply and account for the substantial changes in funding, Ether will conduct a Dutch Fair Auction on the same day at 10 a.m. Pacific Time. This auction will provide an opportunity for interested parties to acquire Ether tokens. Moreover, as part of the efforts to compensate for the funding changes, the project has decided to increase the royalties from 5% to 7.5%.
NFTs | DeFi | News
🖼 NFT Lender Gondi Goes Live, Raises $5.3M Round Led by Hack.vc
Non-fungible token (NFT) lending protocol Gondi went live on Tuesday after raising a $5.35 million seed round led by Hack.vc, the firm told CoinDesk. Gondi allows lenders and borrowers to capitalize on the value of blue-chip NFT collections on the Ethereum blockchain. Lenders can put up their NFTs on the platform for a fixed rate, while borrowers can use the NFTs as collateral or for use on NFT-based financial applications. Gondi says that borrowers on its platform only pay interest based on the outstanding loan duration. Borrowers can use their NFT assets as collateral to request a loan from the open market. The seed round for Gondi developer Florida Street was co-led by Alex Pack at Hack.vc and Rodolfo Gonzalez at Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, and 6th Man Ventures, among others. “We are thrilled to have co-led Florida Street's seed round, and we are excited about the solutions they are bringing to Web3 users. Gondi's instant refinancing will enhance the NFT lending market, allowing borrowers to access more affordable credit and fostering a growing market,” said Alex Pack, Managing Partner at Hack.vc, in a message to CoinDesk.
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🖼 DeFi borrower uses luxury watch-backed NFT as collateral for a loan
A nonfungible token (NFT) collector shared the story of how a decentralized finance (DeFi) loan was collateralized through a luxury watch and was facilitated with an NFT representing the asset. On July 11, pseudonymous DeFi project adviser CirrusNFT explained how a user was able to borrow $35,000 from another user by using an NFT that represented a physical item as collateral for the loan. According to the exec, a user sent a Patek Phillipe luxury watch to 4K Protocol, an escrow firm that deals with NFTs backed by physical items. The NFT was then listed on the DeFi lending protocol Arcade. After listing the item, lenders pitched their offers to the borrower. The user then accepted the best loan offer they could find. Following this, the NFT was sent to an escrow wallet, where it would stay until the loan was paid in full or if the borrower defaulted. If the borrower fails to pay the loan, the NFT will be awarded to the lender. It can then be burned to claim the watch. Lenders and borrowers do not need to submit their names to each other to go through the process. In addition, the executive believes that this allows people access to more global liquidity, which may offer more competitive rates.
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🪙 Bitcoin Ordinals keep Ethereum NFTs on their heels with BRC-69
Bitcoin Ordinals, which represent the NFTs created on the Bitcoin [BTC] network, seems to be closing in on their Ethereum [ETH] counterparts in terms of dominance. By looking at CryptoSlam’s data, Bitcoin NFT sales have grown by 8301% in the last 24 hours. This was in high contrast to the volume on the Ethereum blockchain which only registered a 1.33% increase within the same period. However, it was worth noting that Ethereum’s sales were way above Bitcoin’s. At the time of writing, overall sales of digital collectibles on Ethereum were $14.75 million. On the other hand, Bitcoin NFTs recorded $6.69 million. But that’s not all. One eye-catching occurrence in the sector was how Bitcoin Ordinals had sent the blue-chip Ethereum NFTs off the top of sales. According to the NFT aggregator, collections including $INSC BRC-20 NFTs, Uncategorized Ordinals, and $ BRC-20 NFTs had much more volume than the likes of Azuki, BAYC, and MAYC. Earlier Ethereum held the mantle as the king of volume when it comes to NFTs. This was because of the traction it gained during the mass adoption of 2021. But since the year began, collections under the blockchain have struggled to witness a steady long-period climb.
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🔫 Metaverse Market in Finance to grow by USD 107.06 billion from 2022 to 2027
The metaverse market in finance size is estimated to increase by USD 107.06 billion from 2022 to 2027, with a CAGR of 21.33%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report. The Metaverse Market report in Finance also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below. Bank of America Corp., BNP Paribas SA, HSBC Holdings Plc, IBK Industrial Bank of Korea, JPMorgan Chase and Co., KB Financial Group Inc., Mogo Inc., National Bank of Kuwait S.A.K.P, NH Investment and Securities Co. Ltd., and Shinhan Financial Group Co. Ltd. Download Sample Report. The market share growth by the hardware segment will be significant during the forecast period. The hardware segment is expected to register a strong CAGR in terms of revenue . Various types of headsets, smart glasses, and lenses are utilized to interface with the Metaverse platform. This can be a mobile or web-based experience. There are numerous ways that VR and AR can change the finance industry , including in terms of data visualization, virtual trading, VR payments, and virtual branches.
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💰 Solana on Ethereum Leads Monthly NFT Sales to Top $947M
Monthly NFT Sales Surpass $947 Million As Solana Leads On Ethereum. Amidst the ongoing downturn in the crypto market, the total NFT sales volume remained largely stable in September. But while overall volume appears stable, sales of individual NFTs are picking up pace, high-value NFTs on Ethereum are still selling, and Solana NFTs are booming. In total, $947 million worth of NFT trading volume was recorded in September, according to data from DappRadar. Pedro Herrera, senior blockchain analyst at DapRadar, pointed to a few possible reasons for the ongoing slowdown in the NFT market. On the one hand, crypto prices have declined significantly since the beginning of the year. For example, Ethereum (ETH) is down 65% against the US dollar since the start of the year. Amidst the turmoil in the crypto market and broader macroeconomic trends, he told Decrypt, investors also appear to be more risk-averse than before. So although the pricey NFTs looked attractive to some buyers earlier this year, there have been fewer high-value sales in the mix recently. But despite the lower price point and drop in ETH value, NFTs are still being sold by the millions.
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🖼 Portal Of Truth NFT Collection: World's First Upgradable NFT
The Portal Of Truth NFT Collection has been officially launched, marking a significant milestone in the world of non-fungible tokens. This collection introduces a groundbreaking concept, allowing NFTs to be upgraded, providing users with opportunities to play, earn, and unlock their full potential. What makes the Portal Of Truth collection unique is its defining feature - only individuals deemed "Worthy" by the Portal of Truth can access the true earning potential of their NFTs. Portal Of Truth NFTs takes players on an immersive journey into a fantasy world filled with adventure and magic.Players summon powerful characters and lead them on quests through a mystical realm. But this is not just another NFT game; it's a gateway to endless possibilities. By upgrading their NFTs, players can enhance their abilities, earn valuable rewards, and generate tokens like never before. To upgrade their NFTs, players must prove their worthiness by passing through the "Portal of Truth." This ancient gateway, shrouded in mystery, demands specific requirements: 1x Elixir NFT and some supply of Silk, both attainable by staking Portal Of Truth NFTs.
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🆘 Over $765K worth of NFTs stolen after SIM swap attack on Gutter Cat Gang
More than $765,000 worth of nonfungible tokens (NFTs) has been stolen as part of a reported SIM swap attack on the Gutter Cat Gang NFT project. The security breach was highlighted by several NFT community members at around 8:00 pm UTC on July 7, with Gutter Cat Gang co-founder Gutter Mitch tweeting out a warning: “Our Twitter has been compromised please do not interact with any links.” Alongside the official Gutter Cat Gang account, co-founder Gutter Ric was also hacked. The hackers used the accounts to share links to fake limited edition Gutter Cat Gang NFT sneaker airdrops that essentially drained people’s hot wallets when they clicked on them. To make the fictitious links look more legitimate, the tweets included recent Gutter Cat Gang branding and imagery from the project’s phygital sneaker drop in partnership with Puma and NBA/Charlotte Hornets star LaMelo Ball. Responding to Gutter Mitch’s thread, prominent blockchain sleuth ZachXBT asserted that the team was hacked via a SIM swap attack, as he questioned the team’s cybersecurity practices. ZachXBT highlighted two victims of the attack, with one losing a Bored Ape Yacht Club NFT worth $65,913 at current floor prices.
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🖼 Andy Murray’s Wimbledon Tennis Data Transformed Into NFT Artwork
Historic tennis tournament Wimbledon and past champion Andy Murray have teamed up with digital artist Refik Anadol to launch an official Wimbledon art NFT on Ethereum. The data-driven digital art project, “The Exposition,” was created using 18 years of Andy Murray’s Wimbledon data—including his two Grand Slam victories at the prestigious tennis tournament in 2013 and 2016—alongside unique motion-capture sessions. The project is billed as a “world-first fusion of digital art, sport and data science.” The open edition NFT went on sale earlier today via manifold.xyz to coincide with Murray’s second-round match at Wimbledon 2023, and will be available until July 16. The NFTs, which were produced with Web3 consultancy FAN3, are priced at $147 apiece. Murray was ultimately eliminated from the tournament on Friday. For “The Exposition,” developers created a unique algorithm that uses millions of inputs from statistics along with motion, audio, and visual data. The resulting color bursts represent the “drama, the rivalries, and the Championship victories” of Murray’s ongoing Wimbledon career, according to the project description.
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🖼 EDGE OF NFT EXPANDS DISTRIBUTION VIA DEFIANCE MEDIA
The Edge of Company Inc. the dynamic media and event company dedicated to elevating emerging technology, is proud to announce its expanded distribution of the Edge of NFT show on the innovative programming lineup of DeFiance TV, the 24-hour global broadcast and FAST network dedicated to the new economy. Edge of NFT brings exclusive NFT and Web3 content to Defiance TV viewers that explores the nuts and bolts of the business side, as well as the human element, of how NFTs are changing the way we interact with the things that we love. The Edge of NFT Podcast brings listeners the top 1% of what's going on with NFTs today, and what will stand the test of time. With over 100,000 listeners exploring the world of NFTs and Web3 last year alone, the Edge of NFT podcast is for the futurists and dreamers, the disruptors and creators, the fans and connectors, and the makers and doers that are enthusiastic about where it goes next. The Edge of NFT will join Defiance TV’s innovation focused talk show and podcast lineup, which features existing thought leaders including the O Show, Wondros, Crypto & Coffee, Lunar Crush and Money Talks.
NFTs | DeFi | News
📉 Sale of rare Bored Ape underscores NFT market slump
The second rarest Bored Ape Yacht Club NFT has been sold for just 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items. Bored Ape #3953, a cream-furred creature with protruding eyes shown chewing on pizza, changed hands earlier today, according to blockchain records. Rarity Sniper ranks it as the second rarest item in the collection. In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021, was $3.4 million. The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH (around $58,000). It stood at 28 ETH earlier this week, as low as it’s been in over 18 months and less than half its value at the start of the year, according to NFT Price Floor data. Trading volumes for the collection are at a two-year high, implying a sell-off. Yuga Labs, the startup behind BAYC, appears unfazed by the crash. Crypto Twitter was less sanguine. As one user pointed out, “It’s wild to think that at the top, the BAYC floor was higher than this sale (in USD not ETH).”
NFTs | DeFi | News
🖼 Coca-Cola and Solana NFT platform team up in Serbia
Coca-Cola in Serbia and Solana NFT platform SolSea are working together on a non-fungible token offering at a music event. The deal allows the soda company to give away 100 limited edition hoodies, along with NFTs, to some participants. NFT infrastructure protocol All.Art is a facilitator. According to a July 5 blog, festival-goers can use a tool called “Magic Mirror,” which places random merchandise on the users in a 3D image, which they can see in real-time. Users can then get a picture of this by scanning a QR code. The deal will be available from July 6 to 9 at the EXIT Festival, a yearly event in Novi Sad, Serbia. Prominent industry names like Alesso, Ben Böhmer, Dimitri Vegas & Like Mike, Eric Prydz and Skrillex are set to perform. The collection has been split into batches, with some available for purchase at the festival while others are exclusively reserved for high-value festival ticket holders, a SolSea spokesperson told Blockworks. When a brand sells an NFT, it’s selling a one-of-a-kind digital asset that can’t be perfectly copied. This makes the item rare, and that rarity can sometimes increase its value, when the item is in demand.
NFTs | DeFi | News
🖼 WISeKey and Pauli Team Up to Launch the First Ever NFT in 3D
WISeKey International Holding Ltd (SIX: WIHN, NASDAQ: WKEY), a Swiss based cyber security, IoT, AI platform company, today announced that it has teamed up Philipp-Emmanuel Pauli, a young photographer and drone operator prodigy who studies at La Garenne School in Chesières (Vaud) for the first ever NFTs in 3D. Using the latest light field technology brought recently to market by the Brooklyn-based start-up Looking Glass, the buyers of these première NFTs will have the unique opportunity to enjoy his/her NFT-in-3D without any glasses or headsets. Philipp-Emmanuel presents the world’s first 5 NFTs in 3D under the title “Look Me in The Eye”. The pictures were selected from an exceptional collection of photos shot on 4 continents. The NFTs in 3D were photographed in Colombia (bird), Morocco (boy and lizard), Switzerland (cat), La Garenne School (self-portrait) and The Maldives (bat). The magic of the pictures lies in the extensive travel to reach exceptional locations, each photograph required unmeasurable patience to click at the right moment, and the art of editing in 3D, a novel technique only a few master today, since the novelty of the software. Philipp-Emmanuel - then just 9 years old - first enjoyed the experimental 3D screen technology in 2019 when Looking Glass launched the world's largest 3D holographic display in Tokyo (Japan).
NFTs | DeFi | News
🖼 Dapper Labs makes 3rd round of cuts in 9 months amid NFT slump
Nonfungible token (NFT) creator and technology firm Dapper Labs has announced its third round of staff layoffs in less than a year. On July 13, Dapper Labs CEO Roham Gharegozlou announced that the firm has said goodbye to “51 brilliant colleagues and friends.” In a note to employees, he said that the latest round of cuts includes full-time staff and C1 contractors. “The decision was incredibly difficult because of the amazing people affected,” he said before adding that it was necessary and the right thing to do to “ensure a lean and efficient” company. The cut represents around 12% of the company’s staff, according to total employee figures from Growjo.com. It is the third staff cut by the company in less than a year, following a 22% downsizing in employees in November 2022 and a 20% cut in staff in February 2023. Cointelegraph reached out to Dapper Labs for further comments but did not receive a response by publication. The move comes amid a broader slump in NFT markets and trading. In April, Cointelegraph reported that NFT markets were “out of balance,” with sellers dominating. Sports and NFT commentator Clegainz said it wasn’t a “huge surprise considering the current state of Web3 and the macroeconomic environment.“ They added that Dapper Labs was not alone, as many Web3 companies were in a similar state at the moment.
NFTs | DeFi | News
🖼 Digital Toy Company Cryptoys Integrating Kid-Friendly AI Chatbot Into NFTs
OnChain Studios, the Web3 collective behind non-fungible token (NFT) company Cryptoys is planning to integrate a kid-friendly artificial intelligence (AI) chatbot into its character-based digital collectibles. The AI software, called ChatGuardian, features a chat filter that parents can customize to ensure that their kids have safe, appropriate conversations with their NFT characters. Parents will be able to log into Cryptoys’ Guardian Control Center and prohibit specific keywords and topics at their discretion. Cryptoys hopes that incorporating ChatGuardian will make kids’ experiences with their NFTs engaging and entertaining as they talk with their digital toys. However, the company recognizes the uncertainties and worries that the introduction of AI presents - but don’t fear, there’s no chance of a M3GAN-like doll-gone-wrong here. Will Weinraub, CEO and co-founder of OnChain Studio and Cryptoys told CoinDesk that kids born in the age of blockchain and AI should be able to interact with their favorite characters from intellectual property (IP) franchises, as opposed to “faceless robotic companions,” such as Google Home. Alfonso Martinez, Chief Experience Officer at Cryptoys said in a press release that the company’s priority.
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🖼 7-Eleven Launches New NFT Promotion For “Slurpee Day” On Mobile Devices
7-Eleven launches NFT promotion for “Slurpee Day” – collect virtual Slurpee cups in a sugary game and claim a “Slurpee Vibe Digital Collectible” NFT. 7-Eleven, the global convenience store franchise, is launching a new promotion just in time for “Slurpee Day” – July 11 or 7/11. Customers can now collect virtual Slurpee cups in a sugary collectible game, and the promotion is only available via mobile devices. The virtual Slurpee cups come in four flavors – Cherry, Blue Raspberry, Pina Colada, and Summertime Citrus. Customers can choose any or all of these flavors in no particular order and create customized Slurpee. After filling the cup to the top, customers can claim their “Slurpee Vibe Digital Collectible” by entering their name, email address, and telephone number. A six-digit code is then emailed to the customer to claim the Slurpee NFT. The digital collectible and a new wallet on the Polygon blockchain are created to hold the Slurpee token. Some people consider NFTs to be a dirty word, 7-Eleven uses the term “digital collectible” instead. The only reference to non-fungible tokens is in the app’s terms of service. However, unlike traditional NFTs, where the holder is the owner and can do as they please with the collectible, the 7-Eleven ‘Find Your Slurpee Vibe’ collectibles are merely licensed to the collector. According to the terms of service, they cannot be stored or transferred or sold or transferred to a third party.
NFTs | DeFi | News
🖼 NFT-Powered Dan Harmon Series 'Krapopolis' Finally Gets Premiere Date
"Krapopolis," the long-awaited blockchain-backed animated series from "Rick and Morty" co-creator Dan Harmon, finally has a premiere date: September 24, 2023. The Fox series, first announced during the heyday of the spring 2021 NFT frenzy, marks the first project steered by Blockchain Creative Labs (BCL), Fox Entertainment’s own NFT marketplace. Shortly after its creation in 2021, BCL received a massive $100 million investment from its parent company, indicating Fox’s unambiguous commitment. Shortly thereafter, however, in 2022, the crypto market cratered, and public enthusiasm for NFTs declined significantly. But Fox hung on, greenlighting "Krapopolis" for a full three seasons before a single episode had aired—an exceedingly rare move in Hollywood for a series based on original IP. Now, after years of hype and speculation, "Krapopolis" finally appears ready to see the light of day, and details about how the blockchain will be integrated into the network series are becoming clearer. Since last August, early fans of the show have been able to purchase Krap Chickens, a series of 10,420 NFTs that promised to offer some degree of show-related access to holders.
NFTs | DeFi | News
🖼 Starbucks collaborates with Micah Johnson's Aku NFT project
Starbucks' web3 loyalty program, Odyssey, has announced a partnership with the Non-Fungible Token (NFT) collection Aku for their upcoming digital collectable Stamp. As part of the collaboration, Starbucks will also donate a generous $100,000 to ‘Blessings in a Backpack’, a nonprofit organisation dedicated to combating childhood food insecurity. The Aku NFT collection, spearheaded by former Major League Baseball player Micah Johnson, revolves around empowering young children to dream big. On July 17, Starbucks will launch the latest Odyssey Journey, "Aku Adventure," inviting Odyssey members to embark on an exciting mission with Aku. The new Stamp featured in the Journey has been specifically "designed by Aku." Odyssey members will have the opportunity to participate in this unique experience until August 13, 2023. For several months, Starbucks has been progressively introducing limited-edition NFTs exclusively to members of its invitation-only Odyssey loyalty program. These releases have generated tremendous excitement among eager collectors, although some encountered minor technical glitches and longer wait times.
NFTs | DeFi | News
🔫 LG Uplus to enter fashion metaverse
South Korea‘s LG Uplus Corp., has launched a fashion metaverse business, starting this month, with the clothing store Meta Slap, a digital service for office workers, to develop metaverse commerce in fashion. Recently, LG Uplus said that it has inked a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion, which develops 3D simulation-based costume design software, and Ation Fashion, which owns the casual brand Polham. The latter created a method in May that makes it possible to create metaverse costumes. This month, the three businesses will run a fashion boutique in Meta Slap using a ground-breaking innovative concept for a clothes store that combines the real and virtual worlds. The website will produce and market offline goods in addition to avatar clothing and accessories. “The (San Mateo, California-based) metaverse platform Roblox says five of 10 metaverse users were found to dress up their avatars at least once a week,” an LG Uplus source said. The three sides plan to link their metaverse business to an artificial intelligence fitting room.
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🔫 BlockDown Festival and Metaverse Fashion Council Set to Empower Attendees with Cutting-Edge Fashion Experiences in Portugal this Summer
BlockDown Festival is thrilled to announce a strategic partnership with the Metaverse Fashion Council to enhance the festival's fashion content and create a more immersive and interactive experience for attendees. This collaboration will bring together the world of fashion and Web3, featuring events such as the Metaverse Fashion Show and a unique A.I. driven fashion hackathon powered by Style.AI, Metaverse Fashion Councils new powerful, domain specific artificial intelligence model. The Metaverse Fashion Council, the biggest community of business, VC funds, and creatives, known for its innovative initiatives at the intersection of fashion and technology, will also work closely with BlockDown Festival to organize fashion-related conference content, discussion topics, and high-profile speakers from leading fashion brands. The collaboration will also extend to the festival's digital fashion gallery, offering an impressive showcase of digital fashion pieces. The partnership also includes the organization of a Metaverse “STYLE A.I.’s got talent” show utilizing community based ai foundation model Style.AI, which will add an 'America’s Got Talent' style competition to the event.
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💰 Solana May Get NFT Royalties Enforceable Through New Metaplex Standard
Creator royalties have dropped substantially in the Solana NFT sector recently, as top marketplace Magic Eden made paying them optional last week after rivals that shied away from royalties snatched away market share. Now Metaplex, the maker of Solana’s NFT standard, says it is developing a new standard that could enforce royalty payments across the board. While artists and creators can set royalty rates through project smart contracts. The firm said that the existing Metaplex standard is used by more than 99% of all Solana NFTs created so far. Metaplex said it can create enforceable royalties by expanding its token metadata program, which is how NFT makers add the data and information that makes an NFT—or blockchain token representing ownership in an item—unique from one another. Metaplex’s tweet thread reveals that it aims to support multiple NFT asset standards within its framework, providing creators with options for future projects. Since Metaplex technology is already widely supported by marketplaces and wallets, it may be appropriate to implement changes that could affect the entire Solana Maker community.
NFTs | DeFi | News
🖼 NFT Sales Witness 23% Decline This Week, Ethereum Dominates With $130 Million in Sales
During the first week of H2 2023, non-fungible token (NFT) sales witnessed a 23.39% decline compared to the previous week, marking a two-week downward trend. A total of $195.95 million worth of NFT sales occurred, with Ethereum-based NFTs accounting for $130.77 million. Cryptoslam.io data reveals a 23.39% drop in NFT sales this week compared to the earlier week. Along with this downturn, there was a notable 96.48% decrease in NFT buyers and a 15.26% slide in the number of NFT sales. Despite their dominance, ETH NFT sales saw a 14.77% dip compared to the previous week. Among 22 networks, Bitcoin (BTC) ranked second in terms of sales, recording $23.37 million last week and experiencing a 34.99% slump week-over-week. Ethereum and Bitcoin were followed by Solana, BNB, and Polygon in weekly sales. Bored Ape Yacht Club (BAYC) emerged as the highest-selling NFT collection over the past week, generating $22.57 million in revenue and growing by 1% compared to the prior week. Azuki, Mutant Ape Yacht Club (MAYC), Uncategorized Ordinals, and Fram BRC20 trailed behind BAYC. Fram BRC20 NFT sales surged by an impressive 97.47%. Captainz and Degods also recorded significant gains between 43% and 70%, respectively.
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🖼 Trump NFT craters with daily sales down 98% from peak – Decrypt
Former US President Donald Trump’s official NFT trading cards were the talk of the crypto industry – not to mention Twitter and even late-night TV – when they launched a few weeks ago, but since then the hype has grown considerably. Faded to a great extent. Secondary market sales of the Trump digital trading card, which is built on the Ethereum scaling network Polygon, totaled more than $59,300 on Wednesday, according to data from CryptoSlam. Trump’s collection is hardly over, however. At the time of this writing, according to CryptoSlam, the former president’s NFT is the 69th most sold project in the past 24 hours, with over $44,000 sold during that period. In contrast, top project Bored Ape Yacht Club recorded sales of over $2 million in the past day. Secondary market premiums on Trump NFTs are also coming down fast. The NFT was originally sold for $99 during the primary sale, and amid the hype surrounding the project in the days following the initial mintage, even an NFT with “generic” artwork and features was sold for its price. Ordered a large multiplier.
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💰 Solana's AI-powered tools could help 'normies' pick NFTs
Most noise surrounding the NFT market has recently been dominated by headlines and data that paint a particularly dire picture of the sector. But Solana Labs says there are still people interested in joining the fray and is working on a new AI tool to help them make the leap. “One of the challenges right now ... [buyers] need to go figure out a lot of different data points,” Solana Labs Head of Product Tal Tchwella told The Block while discussing just how hard it can be to enter the market from scratch. Among efforts to make it easier to select the perfect initial collection, Solana Labs is working on an AI took that will help users identify and buy the non-fungible tokens best suited to their wants and needs. Tchwella said Solana may soon be able to unveil AI-powered applications that can assist first-time NFT buyers determine not only what collections are “trending” but also choose the communities that match their profile. While NFTs minted on the Solana blockchain tend to be considerably less valuable than digital assets on Ethereum, like high-priced Bored Ape Yacht Club and Azuki NFTs, Solana has in recent months made progress in terms of growing its ecosystem.
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⛵️ OpenSea Now Supports NFTs on Zora's Ethereum Layer-2 Network
Zora, the NFT minting platform that recently launched its own Ethereum layer-2 scaling network to facilitate faster and cheaper minting of on-chain artwork, will now be supported by NFT marketplace OpenSea, both companies announced Friday. The news means that art pieces minted on Zora’s network can now be bought and sold on OpenSea, and that OpenSea’s suite of NFT-related tools will now be able to mint assets on Zora's scaling network. The Zora Network is built on the tech stack of existing scaling network, Optimism. OpenSea is only the latest of more than 45 NFT platforms, including Sound, Gallery, and Rainbow, that support the new Zora network. OpenSea is a mainstay of the NFT industry that has historically accounted for the majority of organic NFT trading volume, although it was surpassed earlier this year by rival Blur and its tokenized trading incentives. Zora was founded in 2020 as a service that offered artists the infrastructure to sell on-chain, digital tokens tied to physical artwork and items. It has since pivoted to building an open-source protocol designed to allow any users to mint and sell NFTs, as well as build boutique NFT marketplaces.
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🖼 Tom Brady Autograph’s NFT Platform Reinvents Marketing Gameplan!
Tom Brady’s NFT Autograph platform is facing significant challenges in the wake of the bear market and is now forced to change its strategy. The downturn in the overall crypto market has severely impacted the NFT Autograph platform’s operations. As the value of cryptocurrencies plummeted, investors and collectors became more cautious, resulting in a decline in demand for non-fungible tokens (NFTs) and related services. The company’s ambitious plans to revolutionize the sports memorabilia industry through NFTs have been hit hard by these market conditions. Sources familiar with the matter have revealed that the company’s revenue is expected to plummet in 2022, leading to a workforce reduction of at least 50 employees, primarily in coding, language marketing, and related assets. Tom Brady’s association with the cryptocurrency exchange FTX has also had unintended consequences for his reputation in the crypto industry. As the brand ambassador for FTX, Brady received valuable shares of stock worth around $30 million. However, FTX has faced its own share of controversies and regulatory scrutiny, which has affected the public perception of the platform and, by association, Brady himself.
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🖼 Yuga Labs plans to restore spark around its NFTs
Last week, Bored Apes creator Yuga Labs released its latest NFT-gated game, HV-MTL Forge, but it hasn't yet helped the dragging performance of the company that owns several of the top NFT collections. Yuga Labs is the standard-bearer for the industry of non-fungible tokens. It owns Bored Apes, Mutant Apes and CryptoPunks, along with a number of other important NFT collections. The giant milestone for Otherside, according to new CEO Daniel Alegre, will be when Yuga can start letting others build on it. The muted reception for HV-MTL Forge aside, the giant question mark around Yuga Labs is the Otherside virtual world that it's building and that fans have already sank millions of dollars into. Very soon, Yuga will announce a cadence for revelations that will give its NFT owners and fans a sense for how often they will reveal new pieces of work. When 20 or 30 NFT collections can create ways their NFTs will show up in Otherside and they can start making experiences in the world independent of Yuga. Yuga Labs entered the metaverse hype last year when it sold deeds for its Otherside virtual world, raking in about $320 million. It took users on its "First Trip" into the space a couple months later.
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🖼 Blur Founder Fights Back Against NFT Market Crash
The founder of Blur, a marketplace rivaling OpenSea and catering to experienced traders, has come to the defense of the NFT market amid the prolonged slump in NFT prices. Pacman clarified that since its launch in October 22, the floor prices of some NFT collections have gone up, while others have gone down. He also pointed out that Blur injected liquidity into NFTs through their airdrop, which led to an increase in floor prices. On the other hand, $40 million of liquidity was removed via the Azuki mint. The NFT market has been experiencing a decline for over a year, particularly compared to the soaring prices in 2021. Even the premier collections have been affected by the decline. For instance, the floor price of Yuga Labs’ Bored Ape Yacht Club has decreased to 28 ETH (approximately $53,000), the lowest it has been in over 18 months, and less than half its value at the beginning of the year, according to NFT Price Floor data. Additionally, the floor price of Azuki, another popular collection, has plummeted after the mishap in the launch of a new set of NFTs by its creator, Chiru Labs. Blur, the Paradigm-backed marketplace for pro traders, was blamed for the decline.
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