Twitter Reveals ‘NFT Tweet Tiles’ in Order to ‘Impact’ the Social Media Experience

October 29, 2022 Bitcoin.com

Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more

October 24, 2022 Coin Telegraph

Azuki

The largest NFT marketplace is facing headwinds from its competition as OpenSea sees its market share slip whilst its rivals gain significant ground.

Opensea’s dominance begins to waiver

Nonfungible token (NFT) marketplace Opensea has seen its competitors chomping at its ankles this year as they gain market share — turning the market from a “monopoly” into an “oligopoly," a new report states.

Binance Market Pulse released on Oct. 20 says there has been a slow and steady change in market leadership, noting that while OpenSea is still the dominant marketplace in terms of users and volume, Ethereum (ETH)-based exchanges X2Y2 and Looksrare have been gaining their share of the market over 2022.

The report also pointed out that OpenSea is facing stiff competition when it comes to Solana (SOL)-based NFTs, its most used native marketplace Magic Eden is a “close second” to the multi-chain OpenSea exchange.

*OpenSea’s market dominance in terms of volume peaked in May 2022 but has seen a decline since. Image:* *Binance*

It comes amid a possible sea-change across NFT marketplaces.

On Oct.14, the Solana-native NFT market Magic Eden opted to introduce optional royalties on its platform, following a similar move by the Ethereum-based marketplace X2Y2 in August.

It noted that the “market has been shifting towards optional creator royalties for awhile.”

Binance's Q3 report added that Ethereum overall still dominates holding 65% of the NFT volume market share at the end of the third quarter, but NFT buyers may be moving blockchains in search of profits or following the latest trends.

The data also shows Solana’s NFT sales volume increased by 13% in Q3 and Ethereum’s dropped by 16% since the end of the second quarter.

Record-breaking bids on first wave of ‘Physical Backed Tokens’

The Azuki NFT project has broken the record for the most expensive skateboard ever sold, with the highest bid for a limited-edition 24-karat gold-plated skateboard fetching 309 ETH, or $400,000.

A total of eight skateboards were sold through its new Physical Backed Token (PBT) technology, netting the project a total of $2.5 million worth of ETH.

The highest bid far surpassed the previous record holder, the over $38,000 “Blowin’ in the Wind Skateboard” created by skateboarder Jamie Thomas which included handwritten lyrics from singer Bob Dylan.

The Golden Skateboard is a marvel of art & technology showcasing our first implementation of PBT, which paves the way for a new era of storytelling.

We broke the record for the most expensive skateboard ever sold (in fact, the 8 most expensive skateboards ever sold). pic.twitter.com/XG2fgfrVgU
— Azuki (@AzukiOfficial) October 23, 2022

It was the first time the project implemented its Physical Backed Token (PBT) technology standard.

PBT is a token standard created by the project that uses a cryptographic chip to authenticate ownership of a physical item, generating an NFT in a user's crypto wallet after its scanned with a mobile phone.

MLB players union seeks NFT licensing manager

The union representing all Major League Baseball (MLB) players appears to be looking at expanding its members' presence in Web3, as it looks to hire a licensing manager to help expand its portfolio across NFT, Metaverse, digital games and augmented and virtual reality technology.

The job posting by the MLB Players Association states that “NFTs, the Metaverse, wearable technology, and AR/VR are part of our expanding business model” with the role requiring the person to create “strong relationships” with “crypto projects”.

A major role of the MLB Players Association is assisting sponsors seeking to associate their brand or product with players, the association holds the rights to license and use the names, nicknames, likenesses, and other indicating information of MLB players for use to that end.

Warner Bros launches NFT-gated exclusive films

Entertainment company Warner Bros is looking to use NFTs to distribute exclusive content and films after announcing on Oct. 20 that it partnered with Web3 firm Eluvio to launch its NFT-backed “WB Movieverse.”

The “movieverse” is essentially Warner Bros-owned films available online using NFTs as authentication for users to access the film along with related exclusive content such as behind-the-scenes videos and images.

The first offering in its movieverse sees a 4K resolution extended edition of one if its Lord of The Rings titles along with bonus material made available through two tiers of NFTs.

The sold-out upper tier of 999 NFTs was priced at $100 but now sees an average listing price of $2,500 according to the official secondary listings page, while the lower tier of 10,000 NFTs is priced at $30.

Warner Bros has delved into the NFT space before, recently licensing characters from its DC Comics-owned properties to pop culture brand Funko to sell Walmart-exclusive NFTs.

More Nifty News:

Metaverse casino Slotie has been hit with multiple cease and desist orders from state-level authorities in the United States who allege Slotie hasn’t registered as a broker-dealer, failed to provide the proper disclosures as a gambling platform and consider its NFTs to be unregistered securities.

Ethereum-based NFT marketplace Rarible upgraded its platform on Oct. 20 adding an aggregation tool that allows users to browse and purchase Ethereum NFTs from other marketplaces such as Rarible, OpenSea, LooksRare, X2Y2, and Sudoswap.

Crypto Twitter split as another NFT platform moves to opt-in royalties

October 17, 2022 Coin Telegraph

Coin Telegraph

Despite the change to an optional royalties model, Magic Eden will still have full royalties set by default for all collections and listings.

Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August, albeit reluctantly.

Under the optional royalties model, buyers are given the power to set the royalties they want to contribute to an NFT project, meaning there is a chance that some creators may not receive royalties when their artworks are sold.

In an Oct. 14 post, the NFT marketplace noted that the decision came after "difficult reflection and discussions with many creators” and came as the “market has been shifting towards optional creator royalties for awhile.”

The NFT marketplace shared a graph showing that the number of cumulative wallets using optional royalty marketplaces to buy or sell NFTs skyrocketed in late September.

4/ The market has been shifting towards optional creator royalties for awhile. These charts shows the cumulative wallets that have used optional royalty marketplaces to buy or sell NFTs. pic.twitter.com/wxiU800l2P
— Magic Eden (@MagicEden) October 15, 2022

However, the move has been met with split opinions from Twitter's NFT community, with some seeing the move as positive for the long-term health of the industry, while others have labeled skipping royalties as akin to "theft."

Well-known NFT artist Mike “Beeple” Winkleman pointed out to his 700,000 followers on Oct. 15 that while he doesn’t love what Magic Eden and others are doing, the switch from a seller’s fee to a buyer’s premium could be better for the industry long term.

while I am obviously pro-royalties and don’t love what @MagicEden and others are doing, I do think there is one key change that they hit on… switching from a sellers FEE, to a buyer’s PREMIUM. i think this is actually much more sustainable long term…
— beeple (@beeple) October 15, 2022

Another Twitter user named CaptainFuego, behind Fuego Labs told their nearly 10,000 followers that “Royalties are stupid and shouldn't exist. Glad to see platforms taking this approach.”

Others were more critical of the change. Brocolli DAO argued that “royalties are needed in an immature ecosystem," noting that as per their calculations, they've already lost as much as $27,000 in royalties due to 0% purchases on other marketplaces.

ROYALTIES:

After Magic Eden's announcement that they will be making royalties optional, we have taken proactive measures to protect the integrity of our project.

We've run analytics and determined how much we've lost in royalties to 0% purchases on other marketplaces:
/1
— Broccoli DAO (@Broccoli_DAO) October 15, 2022

“In future we will be blocking anyone who hasn't paid royalties from accessing our Discord channels. Not paying royalties is theft. We will treat it as such," they said.

Cozy the Caller, a self-proclaimed analyst, made a grim prediction to their 108,000 followers, stating “I can see a scenario in which Magic Eden goes 0% and loses their market share to a marketplace enforcing royalties in an innovative way."

honestly unreal I don't know who is advising magic eden but imagine fumbling a billion dollar company man

I can see a scenario in which magic eden goes 0% and loses their market share to a marketplace enforcing royalties in an innovative way

such a fumble man unreal
— Cozy ⓣhe Caller (@cozypront) October 15, 2022

Magic Eden said the change was not taken lightly, and they "have actively been trying to avoid this outcome and spent the last few weeks exploring different alternatives."

Last month, the NFT marketplace attempted to bring forth a royalty enforcement tool called Meta Shield, aimed at deterring NFT buyers trying to skirt creator royalties by giving creators a tool that could flag and blur NFTs that sold bypassing royalties.

Magic Eden noted in its latest post that: “Unfortunately, royalties are not enforceable on a protocol level, so we have had to adapt to shifting market dynamics."

In August, NFT marketplace X2Y2 announced they were introducing a similar option that allows buyers to set the royalty fee when buying an NFT.

The move doesn't appear to have affected the platform's usage; according to data on NFTGo, in the last three months, X2Y2's trading volume is ranked first, surpassing OpenSea.

NFT marketplace trading volume data. *Source: NFTGO*

Cointelegraph has reached out to Magic Eden for further comment but has not received an immediate response at the time of publication.

‘Grotesquely overpriced’ — Apple’s App Store wants 30% cut on NFT sales

September 26, 2022 Coin Telegraph

App Store

While the commission is standard for Apple, some have expressed their displeasure at the company's “grotesquely overpriced” cut of sales.

Non-fungible token (NFT) app developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases.

According to a Friday report from The Information, the smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play.

The commission rate has however been slammed by some for being “grotesquely overpriced” — particularly when compared to standard NFT marketplace commissions, which are around 2.5%.

Tech blogger Florian Mueller called Apple’s “app tax” on NFT sales “abusive but consistent," while Epic Games CEO Tim Sweeney tweeted that Apple is “crushing” another nascent technology that “could rival its grotesquely overpriced in-app payment service.”

Now Apple is killing all NFT app businesses it can’t tax, crushing another nascent technology that could rival its grotesquely overpriced in-app payment service. Apple must be stopped. https://t.co/4KChp6jtFZ
— Tim Sweeney (@TimSweeneyEpic) September 23, 2022

The report noted that popular Solana (SOL) NFT market Magic Eden withdrew its service from the App Store after learning of the policy, even after Apple offered to lower its commission to 15%, though the app continues to be listed on the app store at the time of writing.

Meanwhile, other NFT marketplaces on the App Store have reportedly limited functionality due to the hefty commissions. There is also the added challenge of being forced to conduct transactions in U.S. dollars rather than cryptocurrency, which could prove risky given the volatility of cryptocurrency markets.

Others have seen the positive side of Apple's NFT acceptance. Gabriel Leydon CEO of Web3 game developer Limit Break said the move “could put an ETH wallet in every single mobile game onboarding 1B+ players!” adding he would “HAPPILY give Apple a 30% cut of a free NFT.”

It’s not the first time companies have battled with Apple regarding its commissions, Epic Games has filed legal proceedings after its flagship game Fortnite was delisted from the App Store in Aug. 2020 after the publisher attempted to sell in-game purchases which skirted Apple’s fees.

NFT marketplace apps on the app store currently include OpenSea, Rarible, Magic Eden and marketplaces in crypto trading apps include Binance, Crypto.com and Coinbase Wallet.

Magic Eden defends launch of NFT royalty enforcement tool

September 15, 2022 Coin Telegraph

Coin Telegraph

MetaShield works by enabling creators to flag an NFT or blur the image if the listed or traded NFT bypasses creator royalties.

Solana-based nonfungible token (NFT) marketplace Magic Eden has fended off some community backlash following the launch of MetaShield, its new enforcement tool aimed at deterring NFT buyers who bypass creator royalties.

MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube saw mixed reactions from the NFT community following its launch on Sep. 12, who were split on whether NFT marketplaces should protect creator rights or cut royalty fees to make NFTs cheaper for collectors.

The NFT royalty enforcement tool is designed to allow NFT creators to flag and blur NFTs that may have been sold that managed to bypass creator royalties.

In an eight-part Twitter post on Wednesday, Magic Eden defended its new tool, noting that some of the “hardest working creators today” are getting “punished” by “custom” royalty marketplaces.

The new tool came only a few weeks after NFT marketplace X2Y2 introduced a new feature that affords buyers with the discretion to decide whether they pay a royalty fee — and, if so, how much — when buying an NFT.

Magic Eden cleared the air in its most recent thread, noting that it launched MetaShield in order to protect creators, rather than punish buyers.

“Most people recognize that zero royalty marketplaces for all creators shouldn’t become the ecosystem norm,” argued Magic Eden:

“What we do is an experiment, collaborate, and ship. MetaShield might not be perfect, but it provides an option to creators in this debate.”

The NFT marketplace also confirmed that they will not be taking control of NFTs and that the royalty enforcement tool will not serve to punish buyers.

6/ Does Magic Eden care about freedom & choice? Yes.

Like collectors, creators should have freedom to defend their biz. Re: decentralization most NFTs are mutable & collectors have purchased them by their choice. We're not centralizing NFTs any more than the original technology.
— Merge-ic Eden (@MagicEden) September 13, 2022

According to Magic Eden, MetaShield was built to allow creators “to track Solana NFTs listed with custom royalties” and “take action where they see fit” to protect their brand.

According to the Magic Eden website, NFT creators are afforded “Editor” rights to shield the NFT, which allows them to modify the royalty, add a watermark or blur the image. Once the debt has been paid, the Editor can revert the NFT back to its original state.

Community reaction

The launch of Magic Eden’s MetaShield was initially met with mixed reactions from the community.

One Twitter user claimed the addition of MetaShield further centralized the Magic Eden NFT marketplace, while another Twitter user said no one will mint NFTs if the creators use MetaShield.

There is no way you haven't seen the discussion regarding your own 2% fees on all volume, and then there is the blurring of the jpegs...

You're the problem not the royalties, bunch of centralised cucks. https://t.co/PyTNrN309v
— Grug (@WiseGrug) September 14, 2022

Another Twitter user said they were concerned that innocent buyers will be punished as they’ll have their newly purchased NFT shielded, stating:

“The biggest concern I have is that this punishes the buyer — someone who might not know they purchased incorrectly. After a certain period of time, the NFT will all of a sudden be ‘shielded.’ This will lead to an experience where they need to pay a lot more.

However, many have also praised Magic Eden for “protecting” NFT creators.

Honestly its heart warming to see a marketplace leading charge on protecting creators thx @MagicEden ❤️ Refer to @Zeneca_33 Letter 30 to understand current creator royalty payout practices and the challenges on enforcing them https://t.co/LU6UcHPfsb
— cathleen.eth (@spicyccnyc) September 14, 2022

Not every NFT marketplace has sided with Magic Eden. Sudoswap” decided not to adopt the royalty fee model to make its NFT platform more buyer-friendly by only subjecting them to standard platform fees.

In addition to that, Langston Thomas from “nft now” said that even where smart contracts are set in place to pay royalties to creators, it’s ultimately up to the NFT marketplace to honor the royalty agreement.

This is because the NFT marketplace receives the royalty first via the transaction, and is not obligated to pass that royalty on.

Ongoing Solana-based wallet hack has already seen millions drained

August 3, 2022 Coin Telegraph

Coin Telegraph

NFT marketplace Magic Eden noted that it “seems to be a widespread SOL exploit at play" and called on users to revoke permissions for any suspicious links in their Phantom wallets.

A security vulnerability impacting the Solana ecosystem has reportedly seen millions in funds drained across a number of Solana-based wallets.

At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds themselves, warning anyone with Solana-based hot wallets such as Phantom and Slope wallets to move their funds into cold wallets.

IMPORTANT- please retweet and tag @phantom and @solana

1. Many users are claiming they are getting notifications that they are sending tokens to an unknown address

2. Common Denominator is that they have all been @phantom wallets
— Solar Dex (@solar_dex) August 2, 2022

So far both Phantom and Magic Eden have commented on the issue, with wallet provider Phantom noting that it is working with other teams to get to the bottom of the issue, although it says it does not “believe this is a Phantom-specific issue” at this stage.

We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue.

As soon as we gather more information, we will issue an update.
— Phantom (@phantom) August 3, 2022

Magic Eden confirmed the reports by stating that “seems to be a widespread SOL exploit at play that's draining wallets throughout the ecosystem” as it called on users to revoke permissions for any suspicious links in their Phantom wallets.

Twitter user @nftpeasant has been following the incident closely, and according to their research via Solscan, around $6 million worth of funds have already been siphoned from Phantom wallets during a 10-minute period on August 2. In one instance it appears a Phantom wallet user had $500,000 worth of USDC drained from their account.

???!!! https://t.co/sBDgxqGyaw
— Matthew Graham (@mattysino) August 2, 2022

Popular scam detective and self-described “on-chain sleuth” @zachxbt also did some digging and revealed to their 274,800 followers that the hackers initially funded the primary wallet associated with this attack via Binance seven months ago.

The transaction history shows that the wallet remained dormant until today before the hackers conducted transactions with four different wallets 10 minutes before the attack started.

Scammers wallet funded via Binance 7 months agohttps://t.co/5gQbObcsg4 https://t.co/sco5SPBrne pic.twitter.com/AL6Hm4F3R3
— ZachXBT (@zachxbt) August 3, 2022

At this stage it is unclear if the hack is ongoing, where it originated and if more user funds are still at risk. However in response to @zachxbt’s post, user @cryptojpeg noted that:

“Only 13 txn out of which 3 of those are solana deposit txn and 1 is drain txn So basically one of these 9 txn made the wallet vulnerable to the drain, if it's not related to something else.”

Cointelegraph has reached out to Phantom for comment on the matter, and will update the story if the firm responds.

Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation

June 21, 2022 Coin Telegraph

Solana NFT marketplace Magic Eden closes 0M Series B round at .6B valuation

Coin Telegraph

Magic Eden accounts for over 90% of NFT trading volume on Solana.

On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital valued the firm at $1.6 billion.

The newly-infused capital will be used to expand the company's primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development. Since its inception in September 2021, the marketplace now receives an average of 22 million unique monthly sessions and sees over 40,000 NFTs traded daily.

Magic Eden's Launchpad has also onboarded over 250 projects to date. In addition, it offers customization, marketing support, and operational execution to new NFT collections coming onto the primary market. Meanwhile, its secondary market covers over 7,000 listings and sees over 92% of all NFT volume on Solana.

Furthermore, Magic Eden has also launched over 50 games and metaverse projects. In that segment, the firm oversees 90% of all gaming NFTs on Solana traded on its marketplace. Regarding the development, Zhuoxun Yin, chief operating office and co-founder of Magic Eden, commented:

"We're thrilled to have the continued support of our investors and community and look forward to delivering on Solana and beyond."

Solana Ventures sets up $100M fund for GameFi and DeFi in South Korea

June 8, 2022 Coin Telegraph

Solana Ventures sets up 0M fund for GameFi and DeFi in South Korea

Coin Telegraph

The new fund is intended to support the growth of NFT, gaming, and DeFi projects on Solana and to help keep former Terra developers on their feet following Terra’s fall.

Solana Ventures and the Solana Foundation have formed a $100 million fund to help support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea.

In addition to supporting projects built on Solana (SOL), the fund will help keep some Terra-based projects afloat following the collapse of that ecosystem last month.

The Solana Foundation believes the developers from Terra should not be held responsible for what happened on the blockchain network. In an interview reported by Bloomberg on June 8, general manager for games at the Solana Foundation Johnny B. Lee said:

“The developers did nothing really wrong, but they’re left in the lurch.”

The new fund helps solidify Solana’s aim to become an ideal blockchain for gaming. Solana Ventures launched a similar $100 million gaming fund with crypto exchange FTX and Lightspeed Ventures last November. It also has a $150 million fund with game-focused firms Forte and Griffin Gaming Partners.

South Korea is expected to become a hotbed of NFT and Metaverse development this decade with the government pledging $187 million to build its own metaverse ecosystem. The Korean metaverse will mainly focus on the growth of digital content and digital corporations within the country.

The Solana Foundation is banking on interest in gaming finance (GameFi) and decentralized finance (DeFi) to increase in the country as companies begin to vie for grant money.

Competition to build the best platforms quickly is underway with several South Korean platforms already offering NFTs or access to DeFi, such as the Klaytn layer-1 blockchain and Upbit exchange.

Klaytn’s biggest DeFi platform is KlaySwap which has $274 million in total value locked (TVL) according to DeFi ecosystem tracker DeFi Llama. Upbit, the country’s largest exchange, has its own NFT marketplace.

However it may be difficult for domestic companies to launch their blockchain-based games in South Korea.

The law currently prohibits games from giving monetary rewards, including crypto. This law led Korean officials to demand Apple and Google remove play-to-earn (P2E) games from their Korean stores last December.

NFT trading and DeFi activity on Solana have been on the rise in recent months. Solana’s top NFT marketplace Magic Eden is the second largest in the world with 35,526 daily traders and $7.31 million in daily volume behind OpenSea according to decentralized app (Dapp) tracker DappRadar.

By providing funding for ecosystem growth, Solana may also be able to address the infrequent network instability that has halted operations on the network since last year.

SOL price is currently flat, only down 0.5% over the past 24 hours trading at $39.05 according to data from CoinGecko.

Cumulative NFT Sales Among 18 Blockchain Networks Surpass $36 Billion

May 20, 2022 Bitcoin.com

Nifty News: AC Milan launches NFT collection, Magic Eden accepts Solana projects’ tokens and more

April 11, 2022 Coin Telegraph

AC Milan

AC Milan says the proceeds from the NFT collection will fund the projects undertaken by Fondazione Milan, the clubs’ charity arm.

Italian professional soccer club AC Milan will be releasing its first-ever nonfungible token (NFT) project in collaboration with the BitMEX crypto exchange. Proceeds will go to Fondazione Milan, the clubs’ charity arm.

The limited-edition collection will feature 75,817 NFTs, a number representative of the capacity of the club’s home ground, San Siro stadium. It will depict a 3D image of a jersey found in South Sudan by Danish war photographer Jan Grarup who was in the country documenting widespread flooding last December.

BitMEX partnered with AC Milan to contribute to the project by providing trading discounts and “other benefits” to the first 10,000 pre-orders. BitMEX will also donate to Fondazione Milan by purchasing a “large number” of the NFTs.

As per the announcement, the club says the proceeds will contribute to funding its charitable causes around the world, specifically mentioning the ongoing crisis in Ukraine and a UNICEF project in South Sudan.

Magic Eden to accept tokens from DeGods and Aurory projects

Magic Eden, the largest marketplace by volume for Solana NFTs, according to DappRadar, has confirmed it will accept the tokens from popular Solana NFT projects “DeGods DUST” and Aurory’s “AURY” within the coming weeks.

The marketplace first teased integration of the DUST token in late March, tweeting “brb integrating $DUST” on March 31. On April 1, a drawing of a Magic Eden-themed bar with the caption “$AURY” was tweeted.

$AURY pic.twitter.com/k5gQdHvZ8b
— Magic Eden Solana's Leading NFT Marketplace (@MagicEden) April 1, 2022

“DeGods” is the most traded collection in 30 days on Magic Eden, according to its own statistics, and has an all-time trading volume on the platform of 307,121 Solana (SOL), or $33.8 million at the time of writing. “Aurory” is in third place overall in sales volume for a Solana NFT project according to DappRadar, with an all-time volume of $79.5 million.

The integration of the tokens may be the latest attempt by the platform to solidify itself as Solana’s native NFT marketplace after OpenSea announced it will integrate Solana, putting the two platforms in direct competition.

According to reports, Tiffany Huang, head of content and marketing at Magic Eden, stated that the platform was looking to integrate tokens from other “blue chip” NFT collections.

Solana NFT sales are gaining momentum

Solana NFTs are seeing a significant gain in volume. In the last 24 hours, the NFT sales volume on the Solana blockchain has hit over $9.2 million — an increase of 51.5% — according to analytics firm CryptoSlam.

It comes after a drop was seen in the trading volume of Solana NFTs following the March 30 announcement that OpenSea would integrate the blockchain when OpenSea announced the Solana integration. On April 6, the day before the integration was live, trading volume decreased by 34.4%.

Ethereum is still the top network when it comes to NFTs, with $49.4 million in sales made in the last 24 hours.

Other Nifty News

Starbucks has announced its foray into NFTs, with CEO Howard Schultz stating that ”sometime before the end of the calendar year, we are going to be in the NFT business.”

Autograph, the NFT platform co-founded by Tom Brady, has signed a multi-year partnership with ESPN to create a docuseries and NFT collection titled “Man in the Arena: Tom Brady,” which details the career of the NFL legend.

Magic Eden

Opensea’s dominance begins to waiver

Record-breaking bids on first wave of ‘Physical Backed Tokens’

MLB players union seeks NFT licensing manager

Warner Bros launches NFT-gated exclusive films

More Nifty News:

Community reaction

Magic Eden to accept tokens from DeGods and Aurory projects

Solana NFT sales are gaining momentum

Other Nifty News

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