Tag: NFT

Gaming NFT maker Aavegotchi votes to ditch Polygon for Base

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Aavegotchi, a non-fungible token (NFT) protocol focused on Web3 gaming, has opted to abandon blockchain network Polygon and “go all-in” on Base, an Ethereum layer-2 scaling chain, according to the results of an onchain vote.  On April 8, Aavegotchi’s community members voted 93.5% in favor of a proposal to “Make Aavegotchi Based Again” by deprecating the protocol’s smart contracts on Polygon and re-deploying on Base, according to Aavegochti’s governance page.  “Given our close relationship with the Base team, as well as recent developments in the Base ecosystem […] we believe…

NFT Marketplace X2Y2 Announces Suspension of Operations, Token Tanks

Key Notes NFT marketplace X2Y2 has announced the suspension of operations by April 30th. X2Y2 was once the second-largest NFT trading platform after OpenSea. The firm is exploring artificial intelligence’s role in decentralized finance (DeFi). Non-fungible token (NFT) marketplace X2Y2 has announced that it will shut down operations on April 30, 2025, marking the end of a three-year journey that once saw it rise to the second-largest NFT marketplace after OpenSea. The platform, which amassed a cumulative trading volume of $5.6 billion, said that declining NFT trading volumes, despite a brief…

NFT marketplace X2Y2 shuts down after 3 years, pivots to AI

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Non-fungible token (NFT) marketplace X2Y2 announced it is shutting down after three years of operation. According to a March 31 announcement, X2Y2 will shut down on April 30, with the team switching its focus to an artificial intelligence project. The team shared its enthusiasm for the rapidly growing sector: “It’s a pivot. Over the last 12 months, we’ve been diving deep into AI—hands down the biggest paradigm shift we’ll see in our lifetimes—and how it can transform crypto. We’re building something new.“ Token Terminal data shows that X2Y2 saw $53.6…

NFT sales recover 4.5% to $102.8m, CryptoPunks sales surge

Despite the overall market’s decline, the non-fungible token (NFT) market is showing resilience, with sales volume increasing by 4.5% to $102.8 million. Bitcoin’s price has dropped below $83,000 in the last seven days. At the same time, Ethereum is hovering at the $1,800 level. The global crypto market cap is now $2.71 trillion, down from last week’s $2.77 trillion. According to data from CryptoSlam, last week’s NFT sales volume stood at $100.9 million. This week’s figure represents a mild recovery for the sector. NFT buyers have increased dramatically by 28.9%…

NFT sales slip 5.3% to $100.9m, Bitcoin NFT sales drop 30%

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The NFT market has continued its downward trend despite minimal crypto price recovery, with Bitcoin nudging up to $84,000 and Ethereum holding steady at $1,900. The global crypto market cap has moved up to $2.77 trillion from last week’s $2.73 trillion. According to CryptoSlam data, NFT sales volume has fallen to $100.9 million, marking a 5.34% decline from the previous week. Despite the sales drop, market participation metrics show strong growth in both buyers and sellers. The weekly metrics reveal: NFT sales volume fell to $100.9 million from $99.1 million…

NFT sales slip 7.8% to $109m, CryptoPunks sales reverse 55%

The NFT market has pulled back alongside deepening crypto weakness, with Bitcoin falling to $83,000 and Ethereum dropping to $1,900. The overall crypto market cap has shrunk further to $2.73 trillion from last week’s $2.83 trillion. Non-fungible token sales volume has decreased to $109.2 million, according to CryptoSlam data. That’s a 7.84% decline from the previous week. However, market participation metrics tell a very different story, with buyer and seller numbers surging dramatically. The weekly data reveals these contrasting trends: Sales volume fell to $109.2 million from $121.5 million Buyers…

Luxury fashion giant LVMH sued over NFT patent tech for watches

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A company selling smartwatch face designs through non-fungible tokens has sued LVMH, accusing the luxury fashion conglomerate of patent infringement. In a March 10 complaint filed to a Texas federal court, Watch Skins Corporation alleged that LVMH misappropriated its “pioneering NFT display technology.” Watch Skins claimed it developed a unique system that allows users to display verified NFT artworks on smartwatches and holds multiple patents related to the technology. It claimed that a smartwatch from the LVMH-owned watch brand TAG Heuer and other products from the conglomerate’s brands unlawfully used…

NFT sales surge to $121m, CryptoPunks sales jump 500%

The NFT market has bounced back despite ongoing crypto weakness, with Bitcoin sliding to $86,000 and Ethereum dropping to $2,100. The global crypto market has continued its drop, with total market cap edging down to $2.83 trillion from last week’s $2.84 trillion. According to CryptoSlam data, NFT sales volume has grown to $121.5 million, marking a 15.27% increase from the previous week. However, market participation has contracted sharply, suggesting larger trades from fewer participants. The weekly metrics reveal contrasting trends: NFT sales volume rose to $121.5 million from $107.1 million…

NFT trading volume has tumbled 63% since December

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The trading volumes of non-fungible tokens (NFTs) last month were down by more than 60% from December despite building momentum in the final months of 2024, with the fall coinciding with a crypto market downturn.  In December, the total trading volumes for NFTs hit $1.36 billion but fell 26% in month-on-month January, then another 50% in February, DappRadar analyst Sara Gherghelas said in a March 6 industry report. “While NFTs had been showing signs of a comeback in recent months, their momentum has slowed since the start of the year,”…

SEC drops Yuga Labs probe, Trump files NFT marketplace trademark: Nifty Newsletter

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In this week’s newsletter, the US Securities and Exchange Commission (SEC) has dropped its investigation into the non-fungible token (NFT) company Yuga Labs, a company owned by US President Donald Trump filed trademarks for a metaverse and an NFT marketplace, and gambling platform DraftKings plans to settle its NFT lawsuit for $10 million. In other news, Hamster Kombat’s newly launched layer-2 network aims to support Web3 gaming.  Yuga Labs says SEC dropped its investigation into NFT firm NFT firm Yuga Labs said the SEC dropped its investigation into the company.…