Meta & NFT

2023-02-03 18:56:48 NFT lending hits all-time high in loan volume, users, quantity

NFT lending has had its strongest month, with $444 million in monthly volume throughout January.

A new report from NFTGators noted the “significant surge in NFT activity” as Polygon NFTs again surpassed Ethereum in volume. The rise in NFT lending is partly responsible for the increase in activity. BendDAO had the most significant volume in January at $36 million.
The rise in NFT lending is a part of a wider NFT resurgence. OpenSea activity increased as 319,641 Ethereum users sold 1,132,681 NFTs, while 224,719 Polygon users traded 1,514,895 NFTs in January.

As a result, the average NFT on Ethereum traded for $1390, buying an average of 3.54 NFTs. On the other hand, the sale price on Polygon was just $69, with an average of 7 NFTs per user. Therefore, Ethereum traders spent an average of $4,920, and Polygon traders invested $483. Open / Comment

2023-01-25 19:45:08 Ethereum NFT market witnesses a bullish trend

The market for Ethereum non-fungible tokens (NFT) is currently seeing an unwavering bullish trend. Recently, there has seemed to be a lot more activity, which clarifies that things are much better than previously thought. With a closing value of more than $231 million, the weekly trading volume has dramatically climbed. This was made possible by the fact that there were 154,000 traders who were in charge of carrying out 474,000 transactions. A single trader executed 3.1 trades on average, with an average volume of $487.

These very encouraging figures are the biggest proof that the NFTs, which are digital assets, are indeed seeing an enormous upward swing and cannot be set aside for anything else. They frequently stand out when it comes to art, collectibles, and virtual real estate. The present scenario happens to be witnessing the enormous amount of popularity the NFTs are generating, which in turn is helping the overall market boom.

META & NFT WORLD Open / Comment

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2023-01-20 22:17:28 NFT sales topped 101 million in 2022: DappRadar report

A recent report from DappRadar revealed that over the last year, NFT and gaming-centered decentralized applications rivaled DeFi DApps on many major blockchains.
Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value.
A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million — a 67.57% increase from the previous year.
According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions processed. It is followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million).

META & NFT WORLD Open / Comment

2023-01-06 16:04:43 NFT-related trademarks saw parabolic decline after March 2022

The highest number of trademarks filed to the United States Patent and Trademark Office (USPTO) were 1,089 in March, according to USPTO data compiled by trademark attorney Mike Kondoudis. But by December, they had fallen to 341 applications — a 69% decrease from the year's high.
The highest number of trademarks filed to the United States Patent and Trademark Office (USPTO) were 1,089 in March, according to USPTO data compiled by trademark attorney Mike Kondoudis. But by December, they had fallen to 341 applications — a 69% decrease from the year's high.

META & NFT WORLD Open / Comment

2022-12-30 13:00:06 Pudgy Penguins transaction volume surges 599% in 7 days

NFT collection Pudgy Penguins‘s transaction volume recorded a 599% surge in the past seven days and reached 1,534 Ethereum (ETH), WuBlockchain reported.

The collection was launched in July 2021 and includes 8,888 pieces with 4,487 owning wallets, corresponding to a 50% unique owner rate. Around 44% of the NFTs have been held by wallets for more than a year — 4,892 NFTs are held by diamond holders
The project’s floor price is currently at 6,5 ETH, equating to around $7,916 at the time of writing. This level is 10.9% less than the all-time high recorded on Dec.28 at 7,3 ETH, which equates to $8,874 with the current ETH price.

META & NFT WORLD Open / Comment

2022-12-26 13:00:14 Nearly 60% of NFT Trading Volumes in 2022 Was Wash Trading

A recent report published by blockchain analytics firm Dune revealed that nearly 60% of non-fungible token (NFT) trading volumes this year were wash trades.

Wash trading is a form of market manipulation in which a trader buys and sells a security to create the appearance of increased trading volume and activity in the market. In crypto, these activities involve buying and selling digital assets – fungible or non-fungible tokens – on trading platforms, intending to inflate transaction volumes. The end goal is to mislead other traders about the demand level for the asset.
One example of wash trading in the context of non-fungible tokens (NFTs) might involve a trader who owns a particular NFT and wants to create the impression that it is in high demand. The trader could set up multiple accounts on an NFT marketplace and use them to buy and sell the NFT back and forth, creating the appearance of high trading volume and driving up the price of that asset Open / Comment

2022-12-22 13:00:09 Besting Trump, NBA legend Scottie Pippen’s NFT drop sells out in record 77 seconds

NBA Hall of Famer Scottie Pippen’s NFT collection has broken the OpenSeas sales record previously set by actor Anthony Hopkins, after his digital-asset collection sold out in less than one-and-a-half minutes.

Pippen’s 1,000-piece NFT collection sold out in a mere 77 seconds on Tuesday, according to Orange Comet, the company responsible for producing both the former NBA legend's and Hopkins' NFT collections. Selling out at such a rapid pace also means Pippen's NFT drop outpaced last week’s highly publicized drop inspired by former President Donald Trump.

META & NFT WORLD Open / Comment

2022-12-16 13:00:18 Apple Plans to Allow External iOS Apps in Boon for Crypto, NFTs

Apple’s “walled garden” ecosystem design has enabled it to take up to a 30% cut of iOS app and service sales, to the frustration of users and creators alike. But a new report suggests that Apple is planning to open up its ecosystem—a move that may benefit apps built around NFTs and possibly expand the ability to make mobile crypto payments.

Bloomberg reports that Apple plans to enable the installation of apps from external sources outside of its own App Store on iPhones and iPads, according to sources familiar with the plans. The changes are being made in response to the European Union’s Digital Markets Act, which requires tech companies to fully comply with restrictions by 2024.

META & NFT WORLD Open / Comment

2022-12-11 16:44:50 Blue-chip NFT sales surge as ether price stagnates

Trading volumes for some top NFT projects are surging while the price of ether stagnates below $1,300.

Over the past 24 hours, "web3 anime universe" Azuki has seen an increase of more than 490% in the number of transactions and a 550% increase in the number of sales, according to NFT analytics platform CryptoSlam. Azuki "sidekicks" BEANZ has seen a 1,000% increase in the number of transactions and a 631% in the number of sales.

Meanwhile, Meebits has seen a 2,457% increase in transactions and a 1,472% increase in sales. At the same time, fellow Yuga Labs-owned IP CryptoPunks has seen a 300% increase in transactions and a 255% increase in sales.

The list continues — for example, Limit Break's anime-style DigiGaikagu collection has seen a 1,700% increase in the number of transactions and a 1,210% increase in sales during the same period.

Despite a hot past 24 hours, broader NFT trading volumes remain significantly down from their all-time highs. Open / Comment