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The latest Messages 59

2023-05-21 10:03:02
Injective (INJ) Surges By 19% Following ‘Surprise’ NFT Announcement

Injective
(INJ) is one of the few tokens to have racked up impressive gains in the last week. While most of the assets in the crypto market were marked by insignificant price actions leading to little gains or losses, INJ stood out with an excellent price movement to become one of the biggest weekly gainers. According to data from CoinMarketCap, Injective’s price gained by 19% in the last seven days boasting of a market performance. INJ initially began the week trading around a price region of $6.08 and soon recorded consecutive gains and losses before experiencing a price hike on May 17 to hit a market price of $6.7. On May 13, the team behind the Injective blockchain tweeted a statement urging the user community to interact more with dApps built on Injective or its L1 chain, stating there could be a chance to receive an “NFT-related surprise.” Interestingly, the price rally by INJ in the last week appears to be due to an exciting announcement made by the project developers six days ago. This announcement sparked much excitement within the Injective community, which has been represented not just in price but also in the network activity.

NFTs | OpenSea | News
68.2K views07:03
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2023-05-21 04:03:01
Bitcoin Frogs Best Selling NFT for 24-Hrs as BTC Catches Pepe Mania

The
ordinals are coming in dank this week. Bitcoin Frogs was the #1 selling NFT collection for the 24-hour period on Wednesday. Frogs sales outpaced Bored Apes Yacht Club, CryptoPunks, and other popular collections for the day. The BRC-20 memecoin project describes itself as “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.” As of publication time, 3,700 frogs had owners. Meanwhile, hundreds were listed for sale on NFT marketplaces. According to data from CryptoSlam, a leading aggregator of on-chain NFT analytics, Bitcoin Frogs sales reached a trading volume above $2.2 million for the day. Frogs outsold Bored Apes NFTs for Wednesday, May 17th. Some of the BAYC sellers may have even been cashing out to buy PEPE Coin in the meanwhile. There’s been a lot of that going on during this season of Pepe fever. CryptoSlam data shows Bitcoin Frogs selling for an average price of 0.12 BTC (around $3,200 USD) on Wednesday. The PEPE-inspired boom in sales overtook Bored Apes Yacht Club despite the higher average sale price of around $83,000 for the blue-chip NFT. The inclusion of cool NFT features like generative AI to produce unique properties in each mint brings the artistry of smart contract minting to the Bitcoin blockchain.

NFTs | OpenSea | News
65.1K views01:03
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2023-05-20 21:03:01
NFT Trading Volume on Track to Drop Below $1B

The non-fungible token (NFT) market is evolving, and measuring its success depends on which metrics you're looking at. According to a new report released by DappRadar on Thursday, NFT trading volume for the month of May has reached $333 million so far, putting it on track to fall below $1 billion for the first time this year. In contrast, there have been 2.3 million sales executed so far this month and a notable increase in the number of weekly active wallets interacting with NFTs. Sara Gherghelas, a blockchain analyst at DappRadar, told CoinDesk that the number of NFT sales appears to be on track to reach or surpass last month's numbers, as opposed to trading volume, which is significantly lagging behind last month's count. In her view, this could signal that there are more NFT traders in the market making smaller dollar-figure trades. The number of unique active wallets linked to NFT activities grew by 27% in May, the report added, attributing the growth to the Miladys NFT collection – which received a notable pump from Elon Musk – as well as profits made from the hyped PEPE token that funneled back into the NFT market. This contributed to an uptick in on-chain activity, which sent Ethereum gas fees skyrocketing.

NFTs | OpenSea | News
68.9K views18:03
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2023-05-20 16:03:01
NFT Lending Platform Blend Surges Past 100,000 Ethereum in Total Volume

NFT
marketplace Blur is growing by leaps and bounds. With the launch of Blend, Blur’s new lending platform, it’s hit yet another milestone. Blend lets users take out Ethereum loans by putting their NFTs up as collateral. They can then use this loan to purchase new NFTs on the Blur marketplace. In return, liquidity providers receive interest, a mechanism that’s spawned the “NFTfi” niche in crypto. Data per Dune, now shows that Blend has facilitated more than 100,000 ETH in total volume, or roughly $181 million, just 17 days since its launch. Though the project racked up more than 3,000 loans from 900 unique lenders, adding Bored Apes Yacht Club (BAYC) and Mutant Ape Yacht Clube (MAYC) collections on Monday fueled further enthusiasm among NFT collectors. BAYC and MAYC accounted for a total volume of 2,267 ETH on day one. On Wednesday, BAYC was the third-most traded collection on the platform with a volume of 3,082 ETH, just behind Azuki (4,616 ETH) and Wrapped Cryptopunks (2,260 ETH).

NFTs | OpenSea | News
62.9K views13:03
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2023-05-20 10:03:02
Pudgy Penguins wants to use its NFT-inspired toys to bring IP to the real world

Pudgy
Penguins, an (admittedly adorable) NFT collection that also doubles as a web3 IP company, is releasing a line of toys dubbed Pudgy Toys, Luca Netz, CEO of the company, told TechCrunch+ in an exclusive interview. As the NFT sector continues to waddle through a period of frosty consumer interest, some collections are diving deep, exploring new waters and expanding their horizons to the physical realm in hopes of reaching more people and growing their brand. The penguin plushies are being made in collaboration with PMI, which also produces toys for Fortnite and Among Us, Netz said. The company sees physical toys as a “Trojan horse” for the web3 ecosystem and NFTs. “Unfortunately, NFT revenue is not sustainable and it’s not really growable,” Netz acknowledged, adding that the toys are meant to make the company more sustainable. “Secondly, we wanted to create an IP that transcends this ecosystem, and the way I know how to do that is through physical products.”. Launched in 2021 and acquired by Netz in April 2022, the 8,888-NFT collection has grown to include real-world products.

NFTs | OpenSea | News
55.8K views07:03
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2023-05-20 04:03:02
Zombie-themed Deadfellaz NFTs Let You Bring the Avatars to Life on Video

DFZ
Labs, the creative team behind zombie themed non-fungible token (NFT) collection Deadfellaz said Friday its rolling out a video utility extension to allow community members to bring their tokens to life and embody their avatars on screen. Called Streamingfellaz, the tool will let Deadfellaz token holders, also known as The Horde, to utlize the collection’s intellectual property (IP) beyond the artwork itself. Betty, CEO & Co-Founder of DFZ LABS said in a press release that Streamingfellaz will further extend Deadfellaz’ mission of giving holders a Web3 digital identity and new modes of self-expression. One member of The Horde, Dead Channel, was able to beta test the new tool and was enthusiastic about the product. “It’s been great bringing my full Web3 identity to life with my Streamingfella. Like many in the Horde: I am my fella, and my fella is me!” Dead Channel said in the release. Deadfellaz has been keen on expanding its IP beyond its digital artwork since its inception. In October, the collection teamed up with popular DJ and NFT collector Steve Aoki.

NFTs | OpenSea | News
48.4K views01:03
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2023-05-19 21:03:02
NFT Marketplaces Diminish in Ethereum Gas Use Amid Fee Crisis

Ethereum
’s gas consumption patterns, Non-Fungible Tokens (NFTs) no longer reign as the top gas guzzlers on the network. Data from the crypto analytics platform Nansen revealed that last week, NFT marketplaces accounted for just over 3% of all gas consumption. In stark contrast, the decentralized exchange Uniswap used more than ten times that amount, clocking in at 31.99%. Highlighting the development, Nansen tweeted. The Ethereum network’s congestion and high gas prices are attributed, in part, to intense activity caused by a surge in meme coin trading, such as PEPE tokens and Floki Inu. This led to an overflow of transactions and, subsequently, skyrocketing gas prices. Ethereum’s community has responded to these challenges, and various Layer 2 (L2) scaling solutions have been proposed to reduce gas prices. Layer 2 solutions, such as state channels, plasma chains, and rollups, aim to offload some computational workloads from the main Ethereum blockchain, thereby reducing the need for gas and its cost. One trader was reported to have paid as much as 64 ETH.

NFTs | OpenSea | News
55.1K views18:03
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2023-05-19 16:03:01
ApeCoin DAO Approves Proposal to Boost Bored Ape NFTs, APE Ecosystem Growth

ApeCoin
DAO has passed a community proposal that would see the launch of an Accelerator that supports the incubation of projects utilizing apecoin tokens (APE) to bolster the fledging ecosystem. The new AIP-209, which was submitted and approved via ApeCoin DAO’s Idea Proposal system, will incubate and launch community-approved projects that focus on improving the value of the Bored Ape Yacht Club (BAYC) NFT collection, and other projects that use ApeCoin. The "Ape Accelerator" aims to engage the ApeCoin community as initiators, voters, and participants. Initiators can submit proposals for projects to be incubated, while voters can use their APE tokens to vote on whether the proposed projects should be launched. Participants will be able to support approved projects by purchasing NFTs and other yet-unspecified tokens. ApeCoin was initially issued as a governance token by creator Yuga Labs to holders of the popular BAYC NFT collection, which is composed of 10,000 unique images of cartoon apes that sell at $83,000 apiece as of Thursday.

NFTs | OpenSea | News
52.1K views13:03
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2023-05-19 10:03:01
NFT Show Europe Invites Exhibitors to the Major Blockchain and Digital Art Conference

NFT
Show Europe, the leading conference for the blockchain, metaverse, and digital art industries, is inviting exhibitors to sign up for its forthcoming event. As an exhibitor at NFT Show Europe 2023, companies will have the opportunity to showcase their innovative solutions to potential investors, clients, and industry partners who are eager to discover the next big thing. NFT Show Europe, set to run from July 14-15, 2023. At #NFTSE, participants will have the opportunity to rub shoulders with leaders from Alpine F1, Activision Blizzard, Epic Games, and Crypto. Page, Decentraland, SKI Federation, Joyn, Lama, Navi Studio, United Nations, UNICEF, Odos, Polkadot, and Zepeto among other companies and visitors from 55+ countries. Exhibitor spaces are now available for the European conference but spaces are selling fast. Interested parties are encouraged to reserve their spot now to ensure their company’s presence at the major event. NFT Show Europe is one of the world’s leading meeting points for web3, blockchain, metaverse, and digital art pioneers.t.

NFTs | OpenSea | News
71.4K views07:03
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2023-05-19 04:03:02
China prosecutors to crack down on NFTs used as crypto proxies

China
's national agency responsible for legal prosecution published a new set of non-fungible token (NFT) guidelines on May 15, warning that NFTs are being used as a proxy for illegal securities and speculative digital assets. The guidelines from the Supreme People's Procuratorate of the People's Republic of China recommend stronger "risk research and judgment" to differentiate between “true innovation” NFTs and quasi-crypto “pseudo-innovation,”. The prosecutors acknowledged that “as a new application of blockchain technology, NFT has certain development potential." However, they also saw a tendency toward “securitization” of NFTs where ownership of one token or collection was shared among multiple individuals, which they claim violated proper NFT criteria such as non-reproducibility, indivisibility and uniqueness. The court found that NFTs “have the object characteristics of property rights such as value, scarcity, controllability, and tradability” and “belong to network virtual property” meaning that they “should be protected by the laws of our country.” Their definition of NFTs set an important and far-reaching precedent for digital property in China.

NFTs | OpenSea | News
60.1K views01:03
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