Tag: NFT

NFT Market Decline Leads To Dapper Labs Laying Off 22% Of The Staff

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Crypto Firms such as Dapper Labs are currently feeling the heat of these markets’ downturn. As per a report, Dapper Labs has lost more than 90% of its NBA Top Shot sales volume dating from February 2021 till now. It appears that the drop in the prices of digital currencies is not the only aspect investors should be concerned about. This is particularly true considering the look of the NFT market recently. The sales volume of the company’s NBA Top Shot as of February last year was about $224 million,…

NFT Platform ImmutableX’s $66M Unlocking Looms, Putting Sell Pressure on IMX Token

“We see no concerns surrounding this upcoming unlock, and even if some short-term selling should occur,” Robbie Ferguson, co-founder of Immutable, wrote in an email. “The top 30 IMX holders, representing 85% of the remaining tokens, have committed to holding – many of whom are long-term equity shareholders of Immutable. For remaining IMX private sale holders that do wish to sell, new investors, including Coinbase and Kenetic Capital, have been lined up to absorb any sell pressure.” Source

Crypto Exchange Kraken Opens Waitlist for ‘Gasless’ NFT Marketplace

CryptoX – Cryptocurrency Analysis and News Portal According to the site, transactions will be “gasless,” meaning that users can buy and sell NFTs that are custodied within the Kraken ecosystem without incurring blockchain network fees. “This means clients can trade on the marketplace with zero disruption, even in peak network activity,” Kraken said in a press release. Source The post Crypto Exchange Kraken Opens Waitlist for ‘Gasless’ NFT Marketplace appeared first on CryptoX. CryptoX Portal

Dapper Labs Cuts 22% of Staff as NFT Market Craters

At the same time, on-chain data shows that market interest in Dapper Labs’ products is declining, following a broader trend of investors shying away from NFTs. On NBA Top Shot, October sales volume came in at $2.6 million, down from $40.8 million during the same time last year. During the height of NFT mania, the NBA Top Shot marketplace generated $224 million worth of NFT trades in February 2021 across 80,822 unique buyers and 1.2 million transactions. Source

Come one, come all! Meta to bring NFT minting and trading to Instagram

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Social media platform Instagram is set to introduce a number of nonfungible token (NFT)-related tools that will allow creators to mint, show and sel NFTs. Instagram parent company Meta said on Nov. 2 during its Creator Week 2022 event that the platform would allow its creators to make “digital collectibles” and sell them “both on and off Instagram.” Meta says creators will have an “end-to-end toolkit” from creating, showing, then selling NFTs within the platform and has chosen the Polygon (MATIC) blockchain as an initial partner for this functionality. Concept…