Non-Fungible Tokens (NFT) Market Holds Steady
The NFT market has remained relatively unchanged in the past 24 hours, with a slight increase in sales volume. According to CryptoSlam, the sales volume is currently at $31,574,164, up 3.5%. However, the number of buyers, sellers, and transactions has slightly decreased by around 1%.
Bitcoin Overtakes Solana in NFT Sales
In terms of NFT sales volume, Bitcoin has overtaken Solana once again and is now significantly ahead. Bitcoin’s sales volume is $7.99 million compared to Solana’s $6.45 million. This change has occurred among the top 10 blockchains by NFT sales volume.
Bored Ape Yacht Club Sees Significant Growth
The Bored Ape Yacht Club has experienced a significant increase in value over the past day. It is up nearly 300% to $794,844, making it the biggest gainer among the top 10 collections. Ordinals and Froganas have also seen modest gains of 11.5% and 11%, respectively.
Pudgy Penguins Hits Milestone with Over 50,000 Accounts and 750,000 Toys Sold
Pudgy Penguins, a popular NFT collection, has achieved several milestones. The team announced that over 55,000 accounts have been created on Pudgy World, their Web3 experience. Additionally, they have sold over 750,000 toys globally through partnerships with major retailers such as ToysRUs and Walmart.
New Era of NFTs with RARI Chain Mainnet Release
The RARI Foundation has launched the mainnet of RARI Chain, an Ethereum Layer 3 blockchain built on Arbitrum. This release aims to initiate a new era for NFTs by addressing scalability issues and embedding royalty payments at the node level. The RARI DAO allows anyone to participate in the chain’s governance.
Magic Eden Sees Uptick Since Rewards Program Launch
Magic Eden, an NFT marketplace, has experienced growth since the launch of its rewards program. Listings near the floor have quadrupled, and there has been a 250% increase in pools on the platform. Additionally, nearly 60% of new Solana NFT wallets have joined Magic Eden.
Hot Take: NFT Market Shows Resilience and Growth Potential
The NFT market continues to show resilience and potential for growth. Despite minor fluctuations in buyer and seller activity, overall sales volume remains steady. Notable collections like Bored Ape Yacht Club and Pudgy Penguins demonstrate the market’s ability to generate significant value and reach milestones.
Furthermore, developments such as the release of RARI Chain’s mainnet and Magic Eden’s rewards program showcase ongoing innovation within the NFT space. These advancements address scalability issues and provide additional incentives for collectors and creators.
Overall, the NFT market remains dynamic and full of opportunities for both investors and enthusiasts alike.
By
By
By