Tag: NFT

BAYC NFT floor price drops 90% from $600,000 in 18 months

The floor price of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) is down by 90% in roughly 18 months as the NFT scene grapples with bear market conditions that spilled over from 2022. BAYC floor price falling The BAYC NFTs, a collection of 10,000 unique Bored Ape NFTs, have been significantly impacted by the current bear market conditions, which can be traced to last year. The BAYC NFT floor price, which once soared to $600,000 in 2021, is now down by over 90%. According to analytics from OpenSea, an NFT marketplace,…

ZachXBT’s research cited in Canadian NFT rug pull class action lawsuit

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The investigative work of independent blockchain sleuth ZachXBT has been cited in a class action lawsuit in Canada against Boneheads, an alleged $3.1 million nonfungible token rug pull. Tweeting on July 7, ZachXBT highlighted that lawsuit as he reiterated accusations that the Boneheads team “quickly disappeared and spent the mint funds on BAYCs [Bored Ape Yacht Club NFTs], luxury goods, and other items never fulfilling the roadmap.” “Yet another case where my research has been cited,” ZachXBT added. A class action lawsuit was filed in Canada against the Boneheads team…

Sega exec calls P2E games ‘boring,’ Tom Brady’s NFT firm switches it up and more

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Sega co-COO yawns at P2E games The co-chief operating officer of Sega has called play-to-earn games “boring” amid the firm’s retreat from franchising some of its hottest properties to the blockchain gaming space. Bloomberg reported on July 6 that Shuji Utsumi, the co-COO of the gaming company behind Sonic The Hedgehog, said Sega would shelve plans to develop blockchain games for now. Third-party blockchain gaming projects would also not get access to Sega’s biggest franchises, with Utsumi adding: “The action in play-to-earn games is boring, what’s the point if games…

Tom Brady’s NFT Venture Autograph Shifts Strategy Amid Struggles: NYT

CryptoX – Cryptocurrency Analysis and News Portal The firm’s revenue sank in 2022 amid the wider downturn in the digital asset market, according to the report, citing a person familiar with its finances. Autograph has laid off more than 50 employees, Insider reported in May and the Times confirmed in its report. Source The post Tom Brady’s NFT Venture Autograph Shifts Strategy Amid Struggles: NYT appeared first on CryptoX. CryptoX Portal

Ethereum NFT royalties hit two-year low as Bored Ape floor price falls below 30 ETH

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Royalties earned by nonfungible token (NFT) projects have reached their lowest point in two years, according to a report from blockchain analytics firm Nansen. Data shared with Cointelegraph highlights the low point for NFT royalties before the impact of a recent drop in the floor price of Bored Ape Yacht Club NFTs as well as controversy surrounding the launch of the Azuki Elementals collection. April 2022 saw the peak of NFT royalties, with NFT creators bagging an estimated $75.7 million in royalties in a single week. According to Nansen’s data,…

NFT Royalty Payments Reached Two Year Low in June: Nansen

According to a report from data analytics platform Nansen released Wednesday, NFT royalty payments sunk to a two-year low in June. Royalty payments reached their peak in April 2022, contributing to 28,000 ETH, or nearly $76 million, in one week of creator earnings. Meanwhile, June’s peak week saw creators collectively earn 2,000 ETH, or about $3.8 million. Source

Actor Steve McQueen Honored Through ‘King of Cool’ NFT Collection on Theta

McQueen, who was known for his starring roles in movies like “The Cincinnati Kid,” “The Magnificent Seven” and “The Towering Inferno,” was also an avid motorcycle enthusiast. He participated in a number of races and collected many Triumph motorcycles and hot rods in his personal garage in Palm Springs, California. Original Source ActorCollectionCoolHonoredkingMcQueenNFTSteveTheta CryptoX Portal