🖼 Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits
In its latest NFT analysis, Coingecko details that the top traders in the NFT arena have earned between $3.3 million and $101.6 million individually, cumulatively exceeding $300 million. The report explains the strategic investment choices and collections that have fueled the success of the foremost NFT traders. Delving into the profits of the top 100 Ethereum NFT traders, Coingecko’s study discloses the most significant victors of the market thus far. This analysis focuses on traders’ realized profits, meaning the tangible earnings secured through NFT sales. To qualify for this elite list of 100, traders were required to exhibit consistent activity over the past half-year and possession of no fewer than two collections. The study illustrates that the leading NFT traders predominantly wagered on blue chip NFT collections at an early stage, an investment that has subsequently skyrocketed in value. Notably, Larva Labs’ Cryptopunks constitute an astonishing 70.6% of total profits for the top 15, followed by Art Blocks’ generative art at 12.2% and Bored Ape Yacht Club at 5.5%. Of the 15 top earners, 11 have extracted millions solely from Cryptopunks. For instance, trader 0x7eb2..3f6b clinched fifth place chiefly by selling one specific Cryptopunk to a renowned buyer. Conversely, some elite traders, such as Akira, directed their focus more towards Art Blocks.
In its latest NFT analysis, Coingecko details that the top traders in the NFT arena have earned between $3.3 million and $101.6 million individually, cumulatively exceeding $300 million. The report explains the strategic investment choices and collections that have fueled the success of the foremost NFT traders. Delving into the profits of the top 100 Ethereum NFT traders, Coingecko’s study discloses the most significant victors of the market thus far. This analysis focuses on traders’ realized profits, meaning the tangible earnings secured through NFT sales. To qualify for this elite list of 100, traders were required to exhibit consistent activity over the past half-year and possession of no fewer than two collections. The study illustrates that the leading NFT traders predominantly wagered on blue chip NFT collections at an early stage, an investment that has subsequently skyrocketed in value. Notably, Larva Labs’ Cryptopunks constitute an astonishing 70.6% of total profits for the top 15, followed by Art Blocks’ generative art at 12.2% and Bored Ape Yacht Club at 5.5%. Of the 15 top earners, 11 have extracted millions solely from Cryptopunks. For instance, trader 0x7eb2..3f6b clinched fifth place chiefly by selling one specific Cryptopunk to a renowned buyer. Conversely, some elite traders, such as Akira, directed their focus more towards Art Blocks.
FBI warns of scammers posing as NFT devs to steal your crypto
The FBI warned today of fraudsters posing as Non-Fungible Token (NFT) developers to prey upon NFT enthusiasts and steal their cryptocurrency and NFT assets. In these attacks, the criminals gain unauthorized access to NFT developer social media accounts or create nearly identical accounts to promote "exclusive" NFT releases. This allows them to lure targets with misleading claims of "limited supply," labeling the promotions as "surprises".
Unsuspecting victims click on the provided links only to be redirected to phishing websites that masquerade as legitimate extensions of specific NFT projects. FBI urges NFT enthusiasts to exercise caution when engaging in NFT-related activities:
The FBI warned today of fraudsters posing as Non-Fungible Token (NFT) developers to prey upon NFT enthusiasts and steal their cryptocurrency and NFT assets. In these attacks, the criminals gain unauthorized access to NFT developer social media accounts or create nearly identical accounts to promote "exclusive" NFT releases. This allows them to lure targets with misleading claims of "limited supply," labeling the promotions as "surprises".
Unsuspecting victims click on the provided links only to be redirected to phishing websites that masquerade as legitimate extensions of specific NFT projects. FBI urges NFT enthusiasts to exercise caution when engaging in NFT-related activities:
🖼 Illuminati Capital Eyes Web3 Games and NFT Infrastructure with New $50M Fund
Illuminati Capital has announced a new $50 million fund to be deployed in the web3 ecosystem. The venture capital firm said the funds were raised privately by the partners, who include web3 investors, a marketing expert, and an accomplished angel investor, among others. The VC’s founders previously invested in Justin Kan’s Fractal, web3 wallet infrastructure platform Web3Auth, and Cross the Ages NFT game, among others. The venture capital firm plans to invest in blockchain games, NFT infrastructure, DeFi and more. According to press material shared with NFTgators, the venture capital firm is comprised of partners of diverse backgrounds, who enable it to “provide targeted advice and actively engage with founders.” The partners individually invested a total of $30 million in different web3 projects, which grew to over $150 million, valuing the combined portfolio companies at $1 billion by the time they exited. “The possibilities of decentralized technology are endless,” commented Dhaval Parikh, Partner at Illuminati Capital and blockchain investor with over five years of experience in web3. “With a background in VC, I will focus on due diligence, risk assessment, portfolio management, and deal flow while analyzing industry trends and key ecosystem insights.”
Illuminati Capital has announced a new $50 million fund to be deployed in the web3 ecosystem. The venture capital firm said the funds were raised privately by the partners, who include web3 investors, a marketing expert, and an accomplished angel investor, among others. The VC’s founders previously invested in Justin Kan’s Fractal, web3 wallet infrastructure platform Web3Auth, and Cross the Ages NFT game, among others. The venture capital firm plans to invest in blockchain games, NFT infrastructure, DeFi and more. According to press material shared with NFTgators, the venture capital firm is comprised of partners of diverse backgrounds, who enable it to “provide targeted advice and actively engage with founders.” The partners individually invested a total of $30 million in different web3 projects, which grew to over $150 million, valuing the combined portfolio companies at $1 billion by the time they exited. “The possibilities of decentralized technology are endless,” commented Dhaval Parikh, Partner at Illuminati Capital and blockchain investor with over five years of experience in web3. “With a background in VC, I will focus on due diligence, risk assessment, portfolio management, and deal flow while analyzing industry trends and key ecosystem insights.”
🖼 holoride, XOXNO Launch NFT Rewards to Scale In-Car XR Gaming
Extended reality (XR) vehicle entertainment system provider holoride has teamed up with XOXNO, a massive marketplace for non-fungible tokens (NFT) on the MultiversX platform. It will also host randomly-generated Skyjack characters for platform users to boost collaboration among holoride’s user base. Also, the joint effort will provide payments for buying and selling NFTs using holoride’s RIDE token. holoride will burn tokens at the end of each quarter to reduce RIDE supplies. XOXNO is the largest marketplace and aggregator on the MultiversX platform. The latter is the first blockchain protocol to merge an adaptive architecture’s state, network, and transaction-sharding aspects. For its users, they receive the top level of scalability and security for their web3 needs. The platform’s versatility, scalability, and architecture attracted holoride to pick it as its preferred supplier. The staking programme will also provide holoride users with rewards, and it plans to unlock further rewards in the coming months. NFT collection sales will also take place on the XOXNO platform, building online gaming communities and expanding holoride’s outreach in the industry.
Extended reality (XR) vehicle entertainment system provider holoride has teamed up with XOXNO, a massive marketplace for non-fungible tokens (NFT) on the MultiversX platform. It will also host randomly-generated Skyjack characters for platform users to boost collaboration among holoride’s user base. Also, the joint effort will provide payments for buying and selling NFTs using holoride’s RIDE token. holoride will burn tokens at the end of each quarter to reduce RIDE supplies. XOXNO is the largest marketplace and aggregator on the MultiversX platform. The latter is the first blockchain protocol to merge an adaptive architecture’s state, network, and transaction-sharding aspects. For its users, they receive the top level of scalability and security for their web3 needs. The platform’s versatility, scalability, and architecture attracted holoride to pick it as its preferred supplier. The staking programme will also provide holoride users with rewards, and it plans to unlock further rewards in the coming months. NFT collection sales will also take place on the XOXNO platform, building online gaming communities and expanding holoride’s outreach in the industry.
Google and Universal Music Group are in the early stages of discussions centering around how fans can legitimately use and license artists’ voices and other soundbits for songs that are generated by AI.
These issues first came to light when an AI-generated song using the voices of Drake and The Weeknd went viral earlier this year, forcing UMG to have the song removed from streaming platforms on the basis of copyright infringement.
So far, we’ve seen AI-generated content that has used the voices of Frank Sinatra, Drake, The Weeknd, Juice WRLD, Grimes, Paul McCartney, Ice Cube, and more, who have all expressed different sentiments on having their voices used without permission.
As for this tool that is currently in the works between Google and UMG, the idea is that fans would be able to create these AI-generated tracks legitimately, where copyright owners would be paid for the use of their voice, lyrics, or other sounds.
These issues first came to light when an AI-generated song using the voices of Drake and The Weeknd went viral earlier this year, forcing UMG to have the song removed from streaming platforms on the basis of copyright infringement.
So far, we’ve seen AI-generated content that has used the voices of Frank Sinatra, Drake, The Weeknd, Juice WRLD, Grimes, Paul McCartney, Ice Cube, and more, who have all expressed different sentiments on having their voices used without permission.
As for this tool that is currently in the works between Google and UMG, the idea is that fans would be able to create these AI-generated tracks legitimately, where copyright owners would be paid for the use of their voice, lyrics, or other sounds.
🖼 NFT market crash unveils tech's limitations in addressing exploitative labor practices
The NFT market continues its ongoing plunge, reminding us that we cannot trust technology to save us from the exploitative labor market. According to a report by Alchemy, NFT trading volume in July fell by 29%, compared to June, to $632 million, and token sales fell by 23% to $3.7 million. Overall, this market recorded a steep fall of 95% in trading volume from the record in January 2022, which reached $17 billion. NFT is a device whose purpose is to answer the question of what ownership looks like in digital spaces. Technically, it is a certificate of authenticity on the blockchain system, which allows those who produce it to mark a certain digital asset as unique. The token comes in the form of a cryptocurrency, and every time that coin is sold its creator is supposed to receive royalties on the sale. This is in contrast to if a painter, for example, sells an oil painting they painted, then they will only receive their share in the initial sale. If the painting changes hands and is sold to different buyers, that painter will get nothing. The relationship between the NFT market and the media was mutual. The large amount of speculative money that flowed into the field drove media interest.
The NFT market continues its ongoing plunge, reminding us that we cannot trust technology to save us from the exploitative labor market. According to a report by Alchemy, NFT trading volume in July fell by 29%, compared to June, to $632 million, and token sales fell by 23% to $3.7 million. Overall, this market recorded a steep fall of 95% in trading volume from the record in January 2022, which reached $17 billion. NFT is a device whose purpose is to answer the question of what ownership looks like in digital spaces. Technically, it is a certificate of authenticity on the blockchain system, which allows those who produce it to mark a certain digital asset as unique. The token comes in the form of a cryptocurrency, and every time that coin is sold its creator is supposed to receive royalties on the sale. This is in contrast to if a painter, for example, sells an oil painting they painted, then they will only receive their share in the initial sale. If the painting changes hands and is sold to different buyers, that painter will get nothing. The relationship between the NFT market and the media was mutual. The large amount of speculative money that flowed into the field drove media interest.
🖼 Coca-Cola Released A New Series Of NFTs On The Layer 2 Base
In Layer 2 Base’s Onchain Summer Program, a prominent appearance will be the Coca-Cola “Masterpiece” NFT set, with a mint expiration date of August 16 and a price from 0.001 – 0.014 ETH/NFT. The Onchain Summer program, which celebrates the launch of the Base mainnet, is a series of Web3 events related to art, games, and music. Between now and the end of August, more than 50 brands, including Coca-Cola, Friends With Benefits – a social decentralized autonomous organization (DAO), and NFT creation platform Zora, will hold the launch NFT on the Base network. In a year where NFT trading volume has fallen almost 50% since January, Web3 projects are struggling to scale. Jesse Pollak, Protocols Lead at Coinbase, told CoinDesk that Onchain Summer aims to showcase how NFTs can be leveraged as a technology rather than just a speculative asset. Since the announcement was made, Base has received quite a bit of public attention. Typically, the total locked value (TVL) of this layer2 exceeded $118 million, ranking 19th in the rankings. Currently, there are over 100 dApps on Base, some of which are created by developers who received early access last month. Coinbase is encouraging users to connect their ether to Base for free minting of NFT to celebrate the launch of the Base mainnet.
In Layer 2 Base’s Onchain Summer Program, a prominent appearance will be the Coca-Cola “Masterpiece” NFT set, with a mint expiration date of August 16 and a price from 0.001 – 0.014 ETH/NFT. The Onchain Summer program, which celebrates the launch of the Base mainnet, is a series of Web3 events related to art, games, and music. Between now and the end of August, more than 50 brands, including Coca-Cola, Friends With Benefits – a social decentralized autonomous organization (DAO), and NFT creation platform Zora, will hold the launch NFT on the Base network. In a year where NFT trading volume has fallen almost 50% since January, Web3 projects are struggling to scale. Jesse Pollak, Protocols Lead at Coinbase, told CoinDesk that Onchain Summer aims to showcase how NFTs can be leveraged as a technology rather than just a speculative asset. Since the announcement was made, Base has received quite a bit of public attention. Typically, the total locked value (TVL) of this layer2 exceeded $118 million, ranking 19th in the rankings. Currently, there are over 100 dApps on Base, some of which are created by developers who received early access last month. Coinbase is encouraging users to connect their ether to Base for free minting of NFT to celebrate the launch of the Base mainnet.
Bored Ape Yacht Club collectors sue Sotheby’s over NFTs auction
Sotheby’s was named as a defendant in a class action lawsuit filed in California last week alongside Yuga Labs, the creators of the Bored Ape Yacht Club NFTs. In the lawsuit, a group of investors claim they were misled about the NFTs, which feature colourful illustrated apes produced by an algorithm and peaked in value in late 2021. In September of that year, Sotheby’s sold 101 Bored Ape Yacht Club NFTs in an online auction for $24m against a $12m to $18m pre-sale estimate.
The lawsuit claims Sotheby’s played a part to “deceptively promote the artificially inflated” value of the NFTs. Sotheby’s endorsement of the NFTs helped Yuga Labs gain a sense of legitimacy among traditional collectors, according to the lawsuit, while attracting a younger audience.
Sotheby’s was named as a defendant in a class action lawsuit filed in California last week alongside Yuga Labs, the creators of the Bored Ape Yacht Club NFTs. In the lawsuit, a group of investors claim they were misled about the NFTs, which feature colourful illustrated apes produced by an algorithm and peaked in value in late 2021. In September of that year, Sotheby’s sold 101 Bored Ape Yacht Club NFTs in an online auction for $24m against a $12m to $18m pre-sale estimate.
The lawsuit claims Sotheby’s played a part to “deceptively promote the artificially inflated” value of the NFTs. Sotheby’s endorsement of the NFTs helped Yuga Labs gain a sense of legitimacy among traditional collectors, according to the lawsuit, while attracting a younger audience.
🖼 FarmVille Creator Zynga Reveals First Ethereum NFT Game: Sugartown
Prominent casual and mobile game publisher Zynga announced today that its first blockchain game is called Sugartown, which will utilize Ethereum NFTs. In Sugartown, three farm animals have opened a wormhole from another dimension. Creatures called Oras have crossed through this wormhole and turned Sugartown into a fun, gamified world. The game will be released at “a later date” and will be playable via web browsers only, a Zynga representative told Decrypt via email. Zynga will release 10,000 Ora NFTs sometime later this year, and they will be required for players to enter the game. The Ora NFTs will give players access to the experience and the free-to-play minigames within Sugartown. Players will also be able to lock up or “stake” their Ora NFTs to accumulate Sugar, a non-crypto, in-game currency. “Our ambition is to empower players through a sustainable Web3 platform full of fun and enduring games,” Zynga Vice President of Web3 Gaming Matt Wolf said in a statement. “We created Sugartown to appeal to a native Web3 market,” he added, “but with the ambition of scaling much wider over time while we build a passionate and engaged community of holders we hope will enjoy this experience as much as we loved bringing it to life.”
Prominent casual and mobile game publisher Zynga announced today that its first blockchain game is called Sugartown, which will utilize Ethereum NFTs. In Sugartown, three farm animals have opened a wormhole from another dimension. Creatures called Oras have crossed through this wormhole and turned Sugartown into a fun, gamified world. The game will be released at “a later date” and will be playable via web browsers only, a Zynga representative told Decrypt via email. Zynga will release 10,000 Ora NFTs sometime later this year, and they will be required for players to enter the game. The Ora NFTs will give players access to the experience and the free-to-play minigames within Sugartown. Players will also be able to lock up or “stake” their Ora NFTs to accumulate Sugar, a non-crypto, in-game currency. “Our ambition is to empower players through a sustainable Web3 platform full of fun and enduring games,” Zynga Vice President of Web3 Gaming Matt Wolf said in a statement. “We created Sugartown to appeal to a native Web3 market,” he added, “but with the ambition of scaling much wider over time while we build a passionate and engaged community of holders we hope will enjoy this experience as much as we loved bringing it to life.”
🖼 Coca-Cola Releases “Masterpiece” NFT Collection on Layer-2 Base
Coca-Cola has unveiled its "Masterpiece" NFT collection, displaying a fusion of traditional and modern artwork on Base, Coinbase's Ethereum Layer 2 network. This launch is a part of Coinbase's "Onchain Summer" campaign, which celebrates numerous on-chain art, gaming and music projects launched on Base. The NFT collection features renowned masterpieces such as "The Scream" and "Girl with a Pearl Earring," combined with modern works by artists like Aket and Vikram Kushwah, all integrated with the iconic Coca-Cola bottle. Eight different versions of these NFTs are offered, with prices ranging from 0.0011 ETH to 0.014 ETH. Some of them are being sold on OpenSea for less than the mint price even though they are being minted using the mint.fun platform. Over 50,000 NFTs were minted, which came to an end on Wednesday. Coca-Cola's venture into NFTs isn't new, the company previously auctioned unique NFTs in 2021, raising over $575,000 for charity. The "Onchain Summer" campaign will last till August 30, featuring a number of projects from partners, including Coca-Cola, Manifold, Optimism, OpenSea and more. With over 100,000 daily active users, Base has garnered significant interest lately and joined Optimism and Arbitrum as prominent players in the Ethereum scaling space.
Coca-Cola has unveiled its "Masterpiece" NFT collection, displaying a fusion of traditional and modern artwork on Base, Coinbase's Ethereum Layer 2 network. This launch is a part of Coinbase's "Onchain Summer" campaign, which celebrates numerous on-chain art, gaming and music projects launched on Base. The NFT collection features renowned masterpieces such as "The Scream" and "Girl with a Pearl Earring," combined with modern works by artists like Aket and Vikram Kushwah, all integrated with the iconic Coca-Cola bottle. Eight different versions of these NFTs are offered, with prices ranging from 0.0011 ETH to 0.014 ETH. Some of them are being sold on OpenSea for less than the mint price even though they are being minted using the mint.fun platform. Over 50,000 NFTs were minted, which came to an end on Wednesday. Coca-Cola's venture into NFTs isn't new, the company previously auctioned unique NFTs in 2021, raising over $575,000 for charity. The "Onchain Summer" campaign will last till August 30, featuring a number of projects from partners, including Coca-Cola, Manifold, Optimism, OpenSea and more. With over 100,000 daily active users, Base has garnered significant interest lately and joined Optimism and Arbitrum as prominent players in the Ethereum scaling space.
Digital Toy Company Cryptoys Integrating Kid-Friendly AI Chatbot Into NFTs
OnChain Studios, the Web3 collective behind non-fungible token (NFT) company Cryptoys is planning to integrate a kid-friendly artificial intelligence (AI) chatbot into its character-based digital collectibles. The AI software, called ChatGuardian, features a chat filter that parents can customize to ensure that their kids have safe, appropriate conversations with their NFT characters. Parents will be able to log into Cryptoys’ Guardian Control Center and prohibit specific keywords and topics at their discretion.
OnChain Studios, the Web3 collective behind non-fungible token (NFT) company Cryptoys is planning to integrate a kid-friendly artificial intelligence (AI) chatbot into its character-based digital collectibles. The AI software, called ChatGuardian, features a chat filter that parents can customize to ensure that their kids have safe, appropriate conversations with their NFT characters. Parents will be able to log into Cryptoys’ Guardian Control Center and prohibit specific keywords and topics at their discretion.
💰 Polygon 30-Day NFT Sales Overtakes Solana for the First Time
Polygon 30-Day NFT sales surpass that of Solana. Furthermore, the blockchain is also second in daily and weekly sales. The Polygon Labs Chairman said the blockchain made over 3 million NFT transactions in the same period. Polygon 30-Day NFT sales show the ecosystem is growing steadily. Recently, one of the biggest NFT projects in their ecosystem, Yoots, said they would leave for the Ethereum network. Despite this, the Polygon blockchain is still a beehive of NFT activity. According to data from CryptoSlam, the Polygon blockchain made massive improvements despite the bad news. With Yoots leaving their ecosystem, many expected the blockchain to cave in and become desolated. But many other NFT collections in Polygon are standing up to the occasion. Apparently, a look at the data shows that Polygon did something massive for a blockchain of its caliber. At the time of writing, Polygon topped Solana in the daily blockchain NFT sales ranking. In the daily charts, polygon sold by more than $1.662 million. Furthermore, this means an increase of more than 16% in the past 24 hours. On the other hand, Solana only sold $1.634 million in the past 24 hours. However, there’s a bigger increase of more than 29% in 24 hours.
Polygon 30-Day NFT sales surpass that of Solana. Furthermore, the blockchain is also second in daily and weekly sales. The Polygon Labs Chairman said the blockchain made over 3 million NFT transactions in the same period. Polygon 30-Day NFT sales show the ecosystem is growing steadily. Recently, one of the biggest NFT projects in their ecosystem, Yoots, said they would leave for the Ethereum network. Despite this, the Polygon blockchain is still a beehive of NFT activity. According to data from CryptoSlam, the Polygon blockchain made massive improvements despite the bad news. With Yoots leaving their ecosystem, many expected the blockchain to cave in and become desolated. But many other NFT collections in Polygon are standing up to the occasion. Apparently, a look at the data shows that Polygon did something massive for a blockchain of its caliber. At the time of writing, Polygon topped Solana in the daily blockchain NFT sales ranking. In the daily charts, polygon sold by more than $1.662 million. Furthermore, this means an increase of more than 16% in the past 24 hours. On the other hand, Solana only sold $1.634 million in the past 24 hours. However, there’s a bigger increase of more than 29% in 24 hours.
🔫 InterWorld to Unveil AI-Powered 3D Metaverse's First-Ever Virtual Office Spaces
Leading the forefront of digital innovation, InterWorld is excited to announce the imminent launch of its cutting-edge virtual office buildings and spaces, set within its state-of-the-art AI-powered 3D metaverse. This monumental launch promises to redefine how businesses and teams collaborate, connect, and cultivate creativity in the digital age. These unique spaces blend the benefits of physical interaction with the boundless possibilities of digital design, providing a seamless bridge between reality and the digital realm. InterWorld's AI-backed infrastructure ensures an experience like no other. From intuitive room customizations, real-time data analytics, to intelligent avatar assistants ready to cater to your professional needs — every corner of the virtual office is infused with our state-of-the-art AI technology, ensuring efficient and fluid interactions. Established in 2023, InterWorld is a trailblazer in AI-powered metaverse platforms. With an emphasis on innovation, InterWorld is committed to bridging the gap between reality and the digital frontier, creating experiences that resonate and revolutionize. Leveraging the latest encryption and security protocols, businesses can have peace of mind, knowing their data and conversations remain confidential.
Leading the forefront of digital innovation, InterWorld is excited to announce the imminent launch of its cutting-edge virtual office buildings and spaces, set within its state-of-the-art AI-powered 3D metaverse. This monumental launch promises to redefine how businesses and teams collaborate, connect, and cultivate creativity in the digital age. These unique spaces blend the benefits of physical interaction with the boundless possibilities of digital design, providing a seamless bridge between reality and the digital realm. InterWorld's AI-backed infrastructure ensures an experience like no other. From intuitive room customizations, real-time data analytics, to intelligent avatar assistants ready to cater to your professional needs — every corner of the virtual office is infused with our state-of-the-art AI technology, ensuring efficient and fluid interactions. Established in 2023, InterWorld is a trailblazer in AI-powered metaverse platforms. With an emphasis on innovation, InterWorld is committed to bridging the gap between reality and the digital frontier, creating experiences that resonate and revolutionize. Leveraging the latest encryption and security protocols, businesses can have peace of mind, knowing their data and conversations remain confidential.
Changing Fundraising with Polkadot: TeddyDaoNFT’s Web3 Charity NFT Initiative
Last month, Lucky Friday Labs, a Web3 software developer, introduced an innovative philanthropic initiative named the Teddy DAO Foundation. This initiative revolves around an on-chain NFT collection named Teddy DAO, developed in collaboration with the renowned online fundraising platform JustGiving and MoonbeamNetwork, which employs Polkadot’s proof-of-stake consensus mechanism.
Since its inception, it has successfully garnered more than $8,000.Teddy DAO conducts auctions for its unique NFTs featuring teddy bears every day. These NFTs, crafted by digital artist Yumi and established on the cross-chain smart contract platform Moonbeam, will be up for bidding. Those who win the auctions can direct the funds generated to any of the 400 charitable organizations endorsed by JustGiving.
Last month, Lucky Friday Labs, a Web3 software developer, introduced an innovative philanthropic initiative named the Teddy DAO Foundation. This initiative revolves around an on-chain NFT collection named Teddy DAO, developed in collaboration with the renowned online fundraising platform JustGiving and MoonbeamNetwork, which employs Polkadot’s proof-of-stake consensus mechanism.
Since its inception, it has successfully garnered more than $8,000.Teddy DAO conducts auctions for its unique NFTs featuring teddy bears every day. These NFTs, crafted by digital artist Yumi and established on the cross-chain smart contract platform Moonbeam, will be up for bidding. Those who win the auctions can direct the funds generated to any of the 400 charitable organizations endorsed by JustGiving.
💰 Bitcoin Ordinals NFT trading volume tanks 98% since May — DappRadar
Alongside the declining trading volumes, the number of Bitcoin Ordinals transactions dropped by 97% to just 20,571 in mid-August. DappRadar has pointed to an “alarming plunge” in Bitcoin Ordinals nonfungible token (NFT) user activity, with trading volumes tanking around a whopping 98% since May. In an Aug. 17 report, DappRadar highlighted its data showing that the total Bitcoin Ordinals sales volume had decreased from peak levels of $452 million in May to roughly $3 million as of Aug. 14. In line with that drop, the number of transactions also declined by around 97% to 20,571 within that same period. DappRadar described it as a grim scenario for the Ordinals market, but it emphasized that more time is required to determine whether this is a “temporary setback” or a “systemic problem of Bitcoin-based NFTs.” “This steep decline in both sales volume and count within such a short period is alarming for Bitcoin Ordinals. The diminishing sales count underscores the waning enthusiasm or perhaps confidence in Bitcoin NFTs,” the report states. The decline comes after a hype-filled second quarter for Bitcoin Ordinals, which saw trading volumes and user activity skyrocket compared to the first quarter of 2023.
Alongside the declining trading volumes, the number of Bitcoin Ordinals transactions dropped by 97% to just 20,571 in mid-August. DappRadar has pointed to an “alarming plunge” in Bitcoin Ordinals nonfungible token (NFT) user activity, with trading volumes tanking around a whopping 98% since May. In an Aug. 17 report, DappRadar highlighted its data showing that the total Bitcoin Ordinals sales volume had decreased from peak levels of $452 million in May to roughly $3 million as of Aug. 14. In line with that drop, the number of transactions also declined by around 97% to 20,571 within that same period. DappRadar described it as a grim scenario for the Ordinals market, but it emphasized that more time is required to determine whether this is a “temporary setback” or a “systemic problem of Bitcoin-based NFTs.” “This steep decline in both sales volume and count within such a short period is alarming for Bitcoin Ordinals. The diminishing sales count underscores the waning enthusiasm or perhaps confidence in Bitcoin NFTs,” the report states. The decline comes after a hype-filled second quarter for Bitcoin Ordinals, which saw trading volumes and user activity skyrocket compared to the first quarter of 2023.
