OpenSea's Polygon NFT Sales Top Ethereum for Second Straight Month
More individual NFTs were sold on Polygon than Ethereum via the leading overall marketplace OpenSea for the second consecutive month, according to public blockchain data curated via a Dune dashboard. In January, OpenSea handled over 1.5 million NFTs sales on Ethereum sidechain Polygon, while Ethereum’s own mainnet tallied a little over 1.1 million sales via the same marketplace. That continues the trend from December when 1.3 million NFTs were sold on Polygon through OpenSea compared to just under 1 million Ethereum NFTs. (Decrypt)
New Bitcoin Protocol May Shake Up the NFT Market
A new protocol released on Bitcoin is bringing wider NFT capabilities to the world’s largest blockchain and it has the potential to reshape the NFT market and the dynamic between some of the largest blockchains, industry officials tell Forkast.
Rally’s RLY Token Tanks 10% As Sidechain Shuts Down – Severing Users’ From Their NFTs
Ethereum-based (ETH) social token platform Rally said its sidechain would shutter operations on Jan. 31, and users would be unable to transfer their non-fungible tokens (NFTs), according to emails sent to its community on the same day.
Crypto 2023: A Focus on Real-World Utility
So, what does 2023 hold for crypto and blockchain? In a word: utility. This was the watchword of nearly every Ripple executive that weighed in with predictions for the year.
What Are Bitcoin NFTs Ordinals and How Do They Work?
Bitcoin is no stranger to NFTs, but it's not been much of a friend to them either. That could be all changing as a new kind of Bitcoin-based NFTs called Ordinals emerge.
BAYC Investors Have Less Than a Week To Join Class Action Against Yuga Labs
Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects.
Premier League Gets Ethereum-Based Digital Cards With Sorare Partnership
Blockchain-powered fantasy sports firm Sorare has sealed a deal with the English Premier League to mint Ethereum-based digital player cards on its platform.
Polygon on OpenSea Reaches a New Milestone in Terms of Volume
Polygon [MATIC] reached yet another new milestone on the NFT market place OpenSea. Data from Dune Analytics showed that the number of Polygon OpenSea users surpassed 1.6 million. Along with that, the weekly volume for Polygon marketplaces observed immense growth over the last few months as well.
Ordinals Protocol Sparks Debate Over NFT's Place in the Bitcoin Ecosystem
The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it’ll be good for the Bitcoin ecosystem. The protocol, referred to as “Ordinals,” was created by software engineer Casey Rodarmor, who officially launched the program on the Bitcoin mainnet following a Jan. 21 blog post. The protocol essentially allows for the Bitcoin version of NFTs — described as “digital artifacts” on the Bitcoin network. (Cointelegraph)
Court Documents Reveal Yuga Labs Lacks Bored Ape Image Copyright
Court documents reveal that Bored Ape Yacht Club’s (BAYC) parent company Yuga Labs does not have any copyright registrations for images in the collection. The information comes from court filings in the case between Yuga Labs and artist Ryder Ripps.
NFTs Accounted for 28% of the ETH Gas Usage in January
The Defi, ERC20, and stablecoins categories occupy the second, third, and fourth largest share with 8%, 8%, and 6%, respectively.
Founders of Gemini-Owned NFT Marketplace Nifty Exchange Are Leaving the Company
The co-founders of Gemini-owned non-fungible token (NFT) marketplace Nifty Gateway are stepping down and leaving Gemini to eventually start another company.
Solana (SOL) Price Rally Could Fizzle Out Due to Weak Fundamentals
Solana’s usage data and ecosystem development do not support the recent bullish rally, raising the probability of a SOL price correction.
Solana (SOL) Network On Hyperdrive As TVL And NFT Trade Volume Soars
Solana (SOL) is on hyperdrive as the network quickly gains momentum in terms of liquidity which are seen at more than 300% as of press time. Following a sweeping price decline, Solana has turned the tide with metrics with flying colors.
ApeCoin Buckles As Recent News Of Stolen BAYC Hits The Market
The Bored Ape Yacht Club NFT collection has been the target of an exploit this January 20th. FranklinIsbored, one of the biggest holders of BAYC NFTs, is targeted with an exploit of OpenSea’s stolen ApeCoin policy which allowed the attacker to sell a marked Bored Ape.
AI Avatars Launch on Polygon As CharacterGPT Brings NPCs to Life
Alethea AI and Polygon Labs are jumping on the AI hype with the launch of an AI-powered NFT project that allows users to create NFT avatars through text-based prompts similar to OpenAi’s Dall-E image generator.
Yuga Labs Faces Plenty of Problems As Lawsuits, Probes, and Hacks Mount
Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, is struggling with an investigation by the Securities and Exchange Commission (SEC), a hack of its Mailchimp account, and a flurry of lawsuits flying back and forth.
Yuga Labs Introduces Skill-Based NFT Game Dookey Dash
A new NFT game Dookey Dash has been unveiled by Yuga Labs, the business behind the well-known Bored Ape Yacht Club (BAYC) NFT collection. However, which will require players to compete in a skill-based game.
Binance Tightens Rules on NFT Listings
According to a Jan. 19 announcement by Binance, the cryptocurrency exchange has tightened its rules for nonfungible tokens, or NFT, listings. Starting Feb. 02, 2023, all NFTs listed on Binance before Oct. 2, 2022, and have an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023, will be delisted. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.
Polygon Insights for 2022
Last year was full of fruitful partnerships, mainstream adoption, and Web2 NFT advancement for the Polygon ecosystem. Some of the biggest brands took a dive into the world of digital collections, opening the door for millions of new users.
