Tag Archives: Non-Fungible Token (NFT)

Ronin, the Layer 1 blockchain developed by Sky Mavis, experienced a significant 149% year-over-year increase in DeFi TVL, reaching $147 million in Q3 2024. There are several factors influencing this growth. One of the major catalysts was, however, the price surge of the RON token. Ronin’s DeFi, NFT Demand Grows According to Messari’s latest report, Ronin’s DeFi TVL rose from $59 million in Q3 2023 to $147 million in Q3 2024. The figure was boosted by a 30% increase in the RON...

RTFKT, the creators of non-fungible token (NFT) sneakers and avatars acquired by Nike in 2021, has announced its closure. The firm revealed in a December 2 post on X that it will wind down operations by January 2025. Final Collection and Legacy Tribute “Today, we’re announcing the plan to wind down RTFKT operations,” the post stated. “Looking back, we’re incredibly proud of everything we’ve achieved together.” RTFKT also outlined plans to release a final collection in...

The iconic NFT collection CryptoPunks appears to be making a comeback this year amidst the ongoing NFT bear market. According to CoinGecko, the CryptoPunks collection currently leads the NFT market with a 30.9% share among the top collections, a position it solidified after surpassing Bored Ape Yacht Club (BAYC) in May 2023. CryptoPunks Sees Resurgence But BAYC Loses Ground At the beginning of 2022, CryptoPunks held a 24.8% share, trailing BAYC’s 29.3% lead. Though it briefly...

Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has proposed a crypto tax reform to support the growth of a token economy, including Web3 and NFTs if he wins the election. His plan would lower the taxation on crypto gains to a 20% separate declaration tax instead of treating them as miscellaneous income. Proposal for Lowering Crypto Taxes According to the campaign document, Tamaki suggested allowing losses to be carried forward for three years and...

The US Securities and Exchange Commission has made it its mission to target various cryptocurrency platforms, albeit with questionable success so far. Next on the list is the NFT platform OpenSea, whose CEO went on to X to express the team’s disappointment in the regulator’s move. Devin Finzer, OpenSea’s chief exec, tweeted that the company he runs is the latest to receive a Wells Notice from the SEC, which indicated that non-fungible tokens available to buy or sell on the...

TL;DR Some NFT-related cryptocurrencies have shown notable development activity in the last month. Despite strong market performances, sector leaders by market cap like Internet Computer (ICP) and Artificial Superintelligence Alliance (FET) were not included in the top 10 list. The Top Performers Non-fungible tokens (NFTs) and cryptocurrencies related to them were one of the main trends during the crypto bull run of 2021. Despite the diminishing interest, many of those coins...

Cryptoslam data indicates that the initially strong NFT market is now recording a downward momentum, having declined in critical metrics, including sales volumes, unique sellers, and buyers. The ongoing rough patch in Bitcoin markets has been blamed for the decline in NFT volume. NFT Volumes Downward Momentum According to data from Cryptoslam, the NFT market experienced a significant decline in monthly volumes during Q2 compared to the first quarter of 2024. Sales volumes in...

TL;DR Santiment reports that Decentraland (MANA) leads in development activity among NFT-linked tokens. Although interest is returning, assets like Axie Infinity (AXS) remain well below their historical peak values, highlighting the ongoing volatility in the NFT market. Here are the Leaders Non-fungible tokens (NFTs) and cryptocurrencies related to them were a huge trend a few years ago. During the 2022-2023 bear market, their popularity declined, but recently, they started...

The lending market for non-fungible tokens (NFTs) has witnessed an unprecedented surge, hitting a quarterly high of $2.13 billion in Q1, marking a significant 43.6% quarter-over-quarter growth. According to data from CoinGecko, five of the six top platforms are seeing increased volumes. Blend Dominates with 92.9% Market Share In January, the NFT lending market hit a record $0.9 billion monthly volume, exceeding the previous peak of $0.85 billion in June 2023. Blend emerged as...

Riding in the coattails of a broader market resurgence, the NFT trading space witnessed in 2024 Q1, with volumes across the top 10 marketplaces soaring to $4.7 billion. According to CoinGecko’s latest report, Blur maintained its stronghold as the leading NFT marketplace during this period. During the first quarter of 2024, Blur recorded $1.5 billion in volume while at the same time, capturing a 27.6% market share, up from the previous quarter. Closely following behind is...