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NFT Sales See Modest Increase of 1.46% to Reach $149M in Past Week

NFT Sales See Modest Increase of 1.46% to Reach 9M in Past WeekIn the past week, sales of non-fungible tokens (NFTs) have increased by 1.46%, raking in a total of $149,312,180. However, while the number of NFT buyers has risen by 22.48%, the number of NFT transactions has decreased by 8.78% compared to the previous week. Azuki Emerges as Top-Performing NFT Collection This Week With 504.96% Sales […]

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Non-Fungible Token Sales Spiked This Week Despite Crypto Market Volatility 

Non-Fungible Token Sales Spiked This Week Despite Crypto Market Volatility In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing the number of buyers recorded […]

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NFT Sales Rise 7.28% to $179.64 Million in 7 Days, Nakamigos Takes the Top Collection Spot 

NFT Sales Rise 7.28% to 9.64 Million in 7 Days, Nakamigos Takes the Top Collection Spot Sales of non-fungible tokens (NFTs) increased this week, with $179.64 million in sales over the last seven days. NFT sales rose 7.28% and transactions grew by 2.29% during this period, but the number of digital collectible buyers decreased by 4.34%. NFT Sales Improve This Week, Rising 7.28% Higher Sales of non-fungible tokens (NFTs) have trended […]

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BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market

BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales MarketWhile the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023. Blur’s Native […]

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SVB collapse chilled NFT trading volumes: DappRadar

Only 11,440 NFT traders were active on March 11 which was the lowest figure recorded since November 2021.

Nonfungible token (NFT) trading volumes took a massive beating following the collapse of Silicon Valley Bank (SVB) last week as traders fled the markets fearing the repercussions of a major United States bank going under.

According to a March 16 report from data aggregation platform DappRadar, NFT trading volumes were hovering between $68 million to $74 million in the lead-up to SVB’s collapse on March 10, then fell to $36 million on March 12.

The dip was accompanied by a 27.9% drop in daily NFT sales count between March 9 to March 11.

NFT trading volume and sales count on all networks between March 1-13. Source: DappRadar

11,440 NFT traders were “active” on March 11 also, the lowest figure recorded since November 2021 according to DappRadar.

The report explained the depeg of USD Coin (USDC) which hit as low as $0.88 moved trader attention away from the NFT market:

As a result “NFT traders became less active,” Dappradar explained.

Despite the trading chills the market value of “blue chip” NFTs was not materially impacted, with the floor prices of collections such as the Bored Apes Yacht Club (BAYC) and CryptoPunks only slightly falling.

The floor price of BAYC NFTs fell 2% from 68.4 Ether (ETH) to 67 ETH since the SVB collapse. Source: OpenSea

“The recovery was quick, showing the resilience of these top-tier NFTs,” DappRadar said. “Blue-Chip NFTs remain a steady investment in a disrupted market.”

The steady floor prices of the BAYC and CryptoPunks may be attributed to the firm behind the collections, Yuga Labs, confirming it only had a “super limited exposure” to SVB, according to co-founder Greg Solano.

Related: 74% of survey participants say they buy NFTs for status

However, the floor price of the Moonbirds collection fell a significant 35.3% from 6.18 ETH to 4 ETH on OpenSea, following the news that PROOF — the team behind the NFTs — had considerable exposure to SVB.

The floor price of Moonbird since the SVB collapse. Source: OpenSea

This was partially triggered by one Ethereum address selling off almost 500 Moonbirds NFTs for losses ranging between 9% to 33%, DappRadar explained.

The sell-offs on the NFT marketplace Blur totaled a loss of 700 Ether (ETH).

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Moonpay and Looksrare Partner to Bring Convenient NFT Purchasing to the Masses

Moonpay and Looksrare Partner to Bring Convenient NFT Purchasing to the MassesOn 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 […]

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NFT Market Remains Resilient With 1.23% Increase in Sales, Ethereum Dominates With 81% of Total NFT Settlements

NFT Market Remains Resilient With 1.23% Increase in Sales, Ethereum Dominates With 81% of Total NFT SettlementsNon-fungible token (NFT) sales rose slightly last week, increasing 1.23% to $232.49 million in recorded sales. The top two NFT collections, Otherdeed and Doodles, saw growth of 44% to 58% compared to the previous week. Ethereum continues to dominate the NFT industry, accounting for more than 81% of total sales last week with $188.51 million […]

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NFT Market Sales Climb 16% Higher; 43.48% Increase in Buyers in Third Week of 2023

NFT Market Sales Climb 16% Higher; 43.48% Increase in Buyers in Third Week of 2023Closing out the third week of January 2023, non-fungible token (NFT) assets saw a 16.39% increase in overall sales. 320,580 buyers participated in the NFT market action this past week, an increase of 43.48% compared to the week prior. $256.69 million in NFT sales were recorded over the last seven days, with $206.06 million being […]

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Trump’s NFT Prize Collection Surfaces on Secondary Markets, Generates $53K in 24-Hour Sales

Trump’s NFT Prize Collection Surfaces on Secondary Markets, Generates K in 24-Hour SalesFollowing the launch of Donald Trump’s non-fungible token (NFT) card collection, winners of the Trump-themed prizes are selling prize NFTs on secondary NFT marketplaces such as Opensea. The Polygon-minted NFTs act as passes for a one-on-one Zoom meeting with the 45th president of the United States and a gala dinner with Trump. During the past […]

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Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer to launch metaverse and more

Software used to access computers remotely has been inserted in a phishing website fronting as an NFT card game for the popular Pokémon franchise.

Hackers hide malware in fake NFT game

A phishing website purporting to offer a Pokémon-branded nonfungible token (NFT) card game has been spreading malware to unsuspecting gamers, a cybersecurity firm has warned.

The website, which at the time of writing was still online, also claims to offer an NFT marketplace, with a link to buy tokens and even an area to stake NFTs all based on the popular Japanese media franchise.

However, an arm of the South Korean cybersecurity firm AhnLab, warned the public about website on Jan. 6, noting that instead of downloading the game, users were actually downloading a remote access tool — allowing hackers to take control of their device.

A screenshot of the phishing website, the “Play on PC” link at the bottom of the image downloads the malware.

The tool, known NetSupport Manager would allow the attackers to not only remotely control the computer's mouse and keyboard but also access the system’s file management and history along with executing commands allowing them to install additional malware, the firm warned.

The public has been advised to only purchase or download applications from official websites and not open attachments in suspicious emails.

The composer behind ‘Jai Ho’ to spin up metaverse

Allah Rakha Rahman, the Indian composer and singer known for the Grammy Award-winning song Jai Ho is launching his own metaverse platform for artists and their music.

Rahman tweeted on Jan. 6 that his “Katraar” metaverse “is one step closer to launching” along with a video of him explaining the upcoming platform which will use “decentralized technology” according to its website.

In the video, Rahman said his vision for the platform was to “bring in new talents, technologies, and [...] direct revenue for artists,” with one revenue stream seemingly the integration of NFTs.

“Right now we are working with the HBAR Foundation to do many cool things, one is bringing a lot of NFTs.”

The HBAR Foundation is a not-for-profit independent organization of distributed ledger firm, Hedera Hashgraph, the creator of the ledger and cryptocurrency Hedera (HBAR).

Rahman added there’s also “an undisclosed project based on virtual beings” but did not provide further details.

2023’s first week of NFT sales jump 26%

Post-Christmas blues appears to have worn off, at least for the NFT market, with sales volume jumping nearly 26% in the first week of 2023, compared to the prior week.

According to data from market metrics aggregator Cryptoslam, in the seven days ended Jan. 7, NFT sales volume was over $211.4 million with around 1.2 million NFTs transacted between over 400,000 buyers.

The number of buyers increased by 17% on the week but transactions only grew by just over 2.5%.

Ethereum-based NFTs remained popular, with sales on the blockchain up nearly 26%.

The top three collections for the week were similarly Ethereum-native with the Yuga Labs’ Bored Ape Yacht Club (BAYC) in first place seeing nearly $19 million traded, up nearly 50% in terms of volume.

The Mutant Ape Yacht Club (MAYC) collection was second, with a volume increase of 80% to hit $14 million sales volume. Azuki was third with a 132% volume surge seeing $12.7 million in sales.

Every frame of feature-length film minted as an NFT

The producers of the 2022 thriller film, The Rideshare Killer have released nearly 120,000 unique NFTs in what they’ve dubbed the “first ‘every frame minted’ (EFM) film.”

Exactly 119,170 NFTs each representing one frame of the 83-minute long film shot in 24 frames per second were minted on the Polygon (MATIC) blockchain according to a Jan. 5 release.

The film’s producer, Tony Greenberg, said he believed NFTs “will change the independent film landscape” as they offer a “potentially appreciating collectible” to fans and a “sustainable revenue source for artists.”

The film may have to rely on its NFT sales to break even if its reviews are anything to go by.

It currently has a rating of 4/10 across eight reviews on the online film database and review website IMDb with one critic saying the movie “should never have been made.”

Other Nifty News

YouTuber and sports beverage merchant Logan Paul has U-turned on his threat to sue Stephen "Coffeezilla" Findeisen for defamation over allegations by Findeisen that purported Paul’s NFT project “CryptoZoo” was a scam.

NFT marketplace SuperRare has gutted 30% of its staff as it “over-hired” during the crypto bull market according to its CEO John Crain. He added the company was “facing headwinds” likely due to the ongoing crypto winter.

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