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For the seventh week straight, non-fungible token (NFT) sales have slipped further. In the last week alone, NFT transactions totaled $66.11 million, marking an 11.65% decline from the previous week. NFT Sales Bleed Out: The Unrelenting Seven-Week Descent Although the broader crypto market experienced some uplift, NFT sales didn’t mirror this positive trend. Week after week for the past seven weeks, NFT sales volumes have been plunging. Seven-day NFT sales according to cryptoslam.io data. Despite this week’s sales being 11.65% lower than the previous week, there’s a silver lining: the count of NFT purchasers surged by 17.77%, while the tally…

“The Quiet Maid,” an upcoming feature film funded by the sale of NFTs, has secured a global sales deal. The film, a social satire formerly titled “Calladita” from the Spanish filmmaker Miguel Faus, sold its world sales rights to the Ibero-American entertainment firm FilmSharks out of Iberseries, the industry conference held this week in Madrid. Deadline first reported the deal. “The Quiet Maid” follows a Colombian maid’s lows and highs as she labors for an opulently wealthy and potentially deceptive Spanish family on the coast of Catalonia. It is based off a short film made by Faus, which was picked…

Since September 25, 2023, the trend of Bitcoin-based Ordinal inscriptions has notably waned, hitting its most subdued levels since mid-April. On October 3 and 4, fewer than 17,000 inscriptions made their mark on Bitcoin’s distributed ledger, as both the volume of inscriptions and associated fees showed a marked decline. Ordinal’s Falling Figures, Bitcoin’s NFT Sales Decline and the BRC20 Market With more than 35 million Ordinal inscriptions now on record, the inscription surge we’ve been witnessing is showing signs of slowing. Just last week, Bitcoin.com News spotlighted this inscription cool down, and the decline has persisted. The daily registration of…

Blockchain web hosting could be a promising solution for enhanced data privacy, security, and control. However, it is not without potential drawbacks. The emergence of blockchain technology has sparked the development of web3, also known as the “semantic web.” Web3 aims to incorporate blockchain technology, artificial intelligence (AI), and machine learning (ML) to create a permissionless, trustless, smarter, and more responsive Internet experience. It means users could interact without intermediaries or authorization from governing bodies. Furthermore, the new web could make it possible to integrate newer, more immersive, and inclusive features such as metaverses, NFT-based games, decentralized finance (defi) infrastructures,…

The Pudgy Penguins NFT collection experienced a colossal surge in trading volume as of today, October 7, 2023. Pudgy Penguins NFT collection is an Ethereum-based collection encompassing 8,888 NFTs, each with different traits. Pudgy Penguins NFT Trading Volume Shoots Pudgy Penguins NFT collection skyrocketed amidst the 2021 bull run but soon experienced massive price fluctuations until finally, the project IP outright was bought by Luca Netz, a serial entrepreneur, for a whopping $2.5 million in April 2022. The project made further advancements and raised a thumping $9 million in seed funding as of May 2023. The seed funding round conducted…

In May, bound account tokens (TBAs), also known as NFTs, which function as crypto wallets, were introduced to the Ethereum market for the first time. This type of non-fungible token, represented by the ERC-6551 token standard, which improves some aspects of the well-known ERC-721 standard, has been a huge success on Polygon for a few months now. Let’s take a look at how these special NFTs work together and see some numbers on their growth. All the details below. What is ERC-6551: the token standard that is revolutionising the NFT and crypto wallet market? The growth of token bound accounts…

Ever since the worldwide media declared the ‘death of NFTs’ they have officially become cool enough for the serious art crowd. The latest proof of this comes as the Museum of Modern Art (MoMA) has unveiled its new ‘Postcards’ NFT project.In a bid to get artists experimenting with NFT technology, MoMA has found a novel way to spark dialogue and participation. As a result, it has come up with the MoMA Postcards initiative that invites artists to engage in a collaborative digital art project. Effectively, leveraging the lightning fast Tezos blockchain to make the project come to life.In essence, a…

Early access for Torque Drift 2 Garage is now live on Epic Games! The racing game’s hotly anticipated modification opportunities, real-to-life drifting adventures, a photo booth, decal editor, and monthly new updates and features spurred by player suggestions are ready to keep players sharp.From soaring down the bustling roads of Tokyo to partaking in engaging competitions along the route, Torque Drift 2 offers an immersive gaming experience through the power of the Polygon blockchain and NFTs, capturing the buzz surrounding real-world motorsport. By integrating Web3 technology, players can have genuine ownership of in-game assets, offering an array of perks, including discounted…

Bitcoin has now become a major player in the non-fungible token (NFT) space. In the first 200 days since its inaugural inscription, 1.14 million image-based inscriptions have been developed on the Bitcoin network, as highlighted in a new report by Galaxy Research. That figure exceeds the total number of NFTs minted on the other major blockchain networks like Solana, Ethereum, and Polygon during their first 200-day periods. What Are Bitcoin Ordinals? In January 2023, Casey Rodarmor, a software engineer, introduced the Ordinals protocol. The protocol is a tool for directly embedding data onto the Bitcoin blockchain. This protocol facilitates data…

Understanding finality in blockchain Finality in blockchain refers to the unchangeable confirmation of a transaction or a block of transactions. In conventional financial systems, once a transaction is confirmed, it cannot be undone. Similarly, attaining finality on a blockchain network ensures that a transaction is permanent and cannot be modified after it has been added to the blockchain. For the blockchain to be secure and authentic, this concept is crucial. Finality is attained by the blockchain network’s use of consensus. Different blockchain networks employ various consensus algorithms, each with a unique method of validating transactions and ensuring finality, such as…