Tag: NFT

ApeCoin leads in NFT and Metaverse market share, but are APE’s hefty staking rewards sustainable?

boss

In January, ApeCoin (APE) had an underwhelming performance compared to metaverse-based tokens like Decentraland (MANA) and The Sandbox (SAND). APE token gained 61% compared to the 90% and 150% respective gains seen in SAND and MANA. The subdued gains can be attributed to the hefty APE staking rewards that is likely creating some selling pressure. An upcoming unlock of around 9% of APE’s circulating supply in March 2023, along with not-so-impressive fundamentals, will add further headwinds for the token. The gains in APE will depend on the success of the…

NFT Gaming Protocol Aavegotchi Aims to Increase Engagement With Upgrade

Aavegotchi is an “open-source, community-owned NFT gaming protocol,” as stated on its homepage, where users can interact with the Aavegotchi metaverse and stake their NFTs with Aave’s interest-generating aTokens. Aavegotchis, the on-chain collectible NFT ghosts, have three attributes – collateral stake, traits and wearables – that dictate their value and rarity. Original Source AavegotchiAimsEngagementGamingIncreaseNFTProtocolupgrade CryptoX Portal

NFT Sales Rise 18.43% This Week, Led by Ethereum’s $233.85 Million in NFT Settlements – Markets and Prices Bitcoin News

boss

Non-fungible token (NFT) sales rose 18.43% this week, totaling $272.68 million. However, the number of NFT buyers declined by 60.31% to approximately 195,716. Ethereum NFT sales continue to lead the market, accounting for $233.85 million of the total sales, a 25.42% increase from the previous week. Top NFT Collection of the Week: Otherdeed Leads with $18.26 Million in Sales NFT sales rose 18.43% this week, with $272.68 million in sales recorded across more than 20 blockchain projects that issue NFTs. Ethereum led the market, accounting for 85.76% of the total…

Moonpay and Looksrare Partner to Bring Convenient NFT Purchasing to the Masses – Bitcoin News

boss

On Thursday, the fiat-to-crypto onramp business Moonpay announced a multi-year partnership with the non-fungible token (NFT) marketplace Looksrare. According to the deal, Looksrare will allow marketplace users to buy and sell crypto assets through Moonpay’s services. Moonpay and Looksrare Join Forces to Streamline NFT Transactions Moonpay, the fiat-to-crypto service founded in 2019, revealed that it has entered into a partnership with the NFT market, Looksrare. Launched in August 2022, Looksrare was one of the first NFT marketplaces to actively reward traders with its own token, LOOKS. According to dappradar.com statistics…

French Luxury Brand Hermes Wins NFT Trademark Infringement Lawsuit – Featured Bitcoin News

boss

French luxury brand Hermes has won a lawsuit against an artist who depicted its famous Birkin bags in a non-fungible token (NFT) collection. The artist argued that NFTs should be covered under the U.S. Constitution’s First Amendment but the jury disagreed. Hermes Wins Lawsuit Against ‘Metabirkins’ NFT Creator French luxury design house Hermes has won a lawsuit against Mason Rothschild, the artist behind the “Metabirkins” non-fungible token (NFT) collection which features digital depictions of Hermes’ popular Birkin bags. Rothschild created the Metabirkins NFT collection in 2021, which he described as…

Ethereum NFT collections lost nearly 60% of their market cap in 2022: Report

boss

A survey of 81 nonfungible token (NFT) collections on the Ethereum blockchain showed a sharp overall loss in market capitalization in 2022, according to a report from DappRadar released Feb. 9. Losses were not evenly distributed, however. The Ethereum NFT market was worth $9.3 billion at the beginning of 2022, according to DappRadar’s valuation, and that figure dropped to $3.7 billion by year-end — a loss of 59.6%. The price of Ether (ETH) impacted the valuations: “It is also important to consider that ETH lost 60% of its value last…