Author: Jeremy Ryan

Between October 29 and November 5, 2023, sales of non-fungible tokens (NFTs) rose by 18.30% compared to the week before, reaching a high of $106.32 million. This week’s NFT statistics reveal an uptick in activity, with the number of buyers and sellers climbing by 17.77% and 15.82%, respectively. NFT Market Revives With 7-Day Gains Following a period of decline and unimpressive performance throughout October, NFT sales have rebounded in the last week. The previous week’s NFT sales stood at $89.87 million, but the current week showed an increase of 18.30%, reaching $106.32 million. Leading the charge, Ethereum-based NFT sales amassed…

Fableborne announced an imminent airdrop for Primordial Essence, a special currency that players can use to purchase NFTs from the upcoming Fableborne marketplace. But if you want to be in on the first wave of Essence airdrop, you need to own a Fableborne Primordial NFT, and set up your Pixion account by November 6th! Fableborne recently completed another round of playtesting, with over 2800 hours of playtime from holders of Primordial NFTs! And now Primordial holders are about to receive another bonus, as Fableborne announces an upcoming airdrop of Primordial Essence, a special, in-game currency. Primordial Essence will be used…

Metadata in blockchain transactions, explained Additional data or information that can be appended to a crypto transaction on a blockchain is referred to as metadata in blockchain transactions. Although the main function of a blockchain is to document and authenticate the transfer of digital assets, including cryptocurrencies like Ether (ETH) or Bitcoin (BTC), metadata enables users to add additional information or context to their transactions. Metadata is data about data. In the context of blockchain transactions, it includes information that is not directly related to the transfer of cryptocurrency but can provide additional functionality to the transaction. There are two…

Non-fungible tokens (NFTs) are a fleeting trend and a gateway for creators to unlock an array of special features. This vision transcends the initial euphoria around NFTs as only digital collectibles. Consequently, steering towards a horizon where functionality and utility reign supreme. This evolution in the NFT market has been championed by industry experts who opine that NFTs, when designed with utility in focus, can drastically enhance user engagement and community building. NFTs As Utility Tokens The essence of NFTs as keys lies in their unique digital DNA. Indeed, each token is a distinct entity, a singular point in the…

This article is part of Blockworks’ Web3 Watch, a weekly roundup of the highlights and lowlights from the culture side of crypto. The wireless provider NETGEAR is teaming up with SuperRare for its Meural Opus, $800 digital picture frames that can connect to wallets and display NFTs. NETGEAR acquired Meural and its smart frame technology in 2018 and made its NFT play in force in 2022, partnering with Metamask and joining SuperRare’s DAO. The launch combines a growing market and a shrinking one. Persistence Market Research predicts smart frames to grow by 3.1% annually over the next decade while the…

While the portmanteau phygitals may eventually (hopefully) fade from existence, never to be spoken again, as a concept they look like they’re here to stay. The primary example of that may be Nike and RTFKT’s non-fungible token universe which has, in less than two years, while facing a bear market much of the time, generated more than one billion dollars in trading volume and more than one hundred million dollars in earnings. Since December 2021, Nike-RTFKT NFTs have spurred close to $1.4 billion in trading volume, according to The Block Research data. At the same time, RTFKT’s more than two…

Multi-chain NFT marketplace Magic Eden announced Saturday that it will launch a new Ethereum platform by the end of the year in collaboration with Bored Ape Yacht Club creator Yuga Labs—with a firm commitment to honor creator royalties on NFT sales. The companies said in a statement that Magic Eden will have a “contractual obligation” to pay Yuga Labs its share of secondary market sales of its future NFT collections. “We’re very much happy to put our money where our mouth is,” Magic Eden co-founder and CEO Jack Lu told Decrypt. Lu said that Magic Eden’s overhauled Ethereum marketplace would…

American Non-Fungible Token (NFT) marketplace OpenSea has announced the company’s decision to reduce its workforce in an attempt to redirect its focus to foster innovative OpenSea 2.0. The company’s decision was revealed through an official X post by OpenSea co-founder and CEO Devin Finzer, who wrote about the shift to “a smaller team with a direct connection to users.” 1/9OpenSea is making some big changes today to focus on the next version of our product. — Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023 As part of introducing the marketplace upgrade OpenSea 2.0, intended to enhance the platform’s underlying technology, reliability,…

In a significant step toward achieving a harmonized traditional and decentralized finance landscape, Arta TechFin Corporation Limited has announced its initiative to develop regulated, interoperable fund tokens on major blockchains. The move sees them collaborating with Chainlink Labs, the primary developer of the decentralized computing platform Chainlink. Arta TechFin and Chainlink are Fusing the best of both worlds: DeFi and TradFi Arta TechFin is set to combine the benefits of Decentralized Finance (DeFi) and Traditional Finance (TradFi) by offering fund tokens that facilitate secure transfers across both public and private blockchains. One of the highlights of this partnership is the…

SubQuery’s Polygon network integration with the Mumbai Testnet advances blockchain and dApp development. SubQuery just endorsed Polygon, showing its commitment to helping developers build and deploy apps for testing and production in the ecosystem. Polygon’s Layer 2 Boosts Decentralized Apps Blockchain enthusiasts recognize Polygon, an Ethereum Layer 2 scaling solution, for enhancing decentralized application efficiency. Using an efficient infrastructure, this technology lets developers improve dApp functionality. Thus, Web3 commerce, DeFi, NFTs, and related sectors are easier to reach. SubQuery’s latest product allows projects to smoothly switch from Ethereum to Polygon, giving a complete infrastructure platform for both networks. Data indexing…