Magic Eden's NFT Transaction Volume Surges to $2.08 Billion, OpenSea and Blur Dominate Market Share
April 9 (Cointime) - According to DappRadar, total transaction volume of NFT marketplace Magic Eden has reached a staggering $2.08 billion to date, with the number of traders hitting 1,420,187.
NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases
Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week.
OpenSea Pro Surges in Transactions and Addresses Following New Offering Launch
OpenSea Pro managed to take the lead on April 5 and April 6, but lost its position to Blur on the following day.
Report: About 48% of Investors Want More Regulatory Oversight in the NFT Sphere
A survey from CoinGecko revealed that in total about 48% of the participants wanted more regulatory scrutiny over the NFT sector whereas about 30% were neutral about the idea and about 24% opined that the sector did not need any further regulation.
Crypto Evening Briefing: Prosecutors Urge Binance to Block Do Kwon from Liquidating Millions in Crypto
Korean prosecutors have contacted Binance, requesting it to prevent crypto fugitive Do Kwon from withdrawing funds. Prosecutors fear that Kwon will start liquidating crypto from the proceeds of selling property.
NFT Market Slumps as Crypto Investors Cut Back on Spending
The luxury goods market, including global art, NFTs, and high-priced items like Rolex watches, is experiencing a downturn as economic growth slows, according to the Washington Post. While global art sales reached $67.8 billion in 2022, marking a 3% increase from the previous year, the market began to lose steam in late 2022 due to waning demand, concerns about recession, rampant inflation, and rising interest rates. NFT sales have also suffered, dropping by approximately 50% in 2022. However, the Washington Post suggests that China may hold the key to revitalizing the market as it did following the 2008 financial crisis. Recent events and positive signals from luxury brands indicate a potential resurgence in luxury shopping and alternative asset markets.
Japanese Government Mulls Promoting NFTs in Sport
The Japanese government may consider adopting non-fungible tokens (NFTs) in the sports industry, with the ruling Liberal Democratic Party Web3 "Digital Society Promotion" team set to publish a white paper on the matter. The paper will seek to clarify the regulatory picture for NFT-issuing firms and their potential sporting partners, with a focus on encouraging domestic companies to enter the sector. However, Japan's strict anti-gambling laws could pose a problem for fantasy sports operators who make use of NFTs, as some require participants to pay entry fees. The white paper is likely to recommend that companies get around this by asking sponsors to provide prize money and prizes. The Web3 team works alongside a dedicated NFT taskforce, which was launched in 2022, and will support the establishment of an industry group for firms that make use of NFTs.
NFT Adoption: How Popular are NFTs among Crypto Holders?
Non-Fungible Tokens (NFTs) are blockchain-based digital assets that gained a meteoric rise in popularity during its first bull run in 2021. Since then, NFT adoption has become common in the crypto community.
David Bowie Unreleased Record Debuts As Music NFT
Gala Music, a subsidiary of Web3 startup Gala Games, has teamed up with music producer Larry Dvoskin and publisher Warner-Chappell Music to release an unreleased version of David Bowie's 1983 track "Let's Dance" as a limited edition collection of NFTs. Gala Music plans to launch 3,003 NFTs that showcase Bowie-inspired artwork on April 14th, each granting the owner exclusive access to the unreleased version of the song, co-produced with Bowie in 2002. The NFTs will be available on a "pay-what-you-wish" basis, with initial profits going towards supporting MusiCares. This is not the first time the Bowie Estate has ventured into blockchain technology, with a collection of NFTs called "Bowie on the Blockchain" released last September, aimed at raising charity funds.
BendDAO Gives NFT Investors the Edge With Web3 Financial Reporting
BendDAO, a non-fungible token (NFT) backed loan liquidity protocol, has celebrated its one-year anniversary by presenting a comprehensive financial statement developed by Unboxing Lab. The report provides specific information on the assets and liabilities of BendDAO, including an overview of cash reserves, loans, NFTs, and other capital such as stock. The financials of BendDAO have been made public as part of the NFT liquidity protocol's ongoing effort to be as open as possible for the sake of the community. The report reveals a total of 3,630.66 Ethereum (ETH) in interest income is earned annually, with an interest expense of 2,447.04 ETH per year, and operating income of 1,183.62 ETH ($2.22 million). BendDAO has a liquidity of 67,624 ETH, and it charges an annual percentage rate (APR) of 6.82% for deposits while charging an APR of $28.44% for borrowing against a total borrowing rate of 20,375 ETH.
