Lưu trữ cho từ khóa: Ethereum NFTs

NFT

NFTs maintain upward momentum, sales volume exceeds $107m

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Non-fungible tokens, or NFTs, saw an uptick in sales volume for the second consecutive week, reaching $107 million — an 8.5% increase.

A substantial increase in the number of NFT buyers accompanied this growth, reaching 488,141 — a staggering 89.56% rise.

On the other hand, the number of NFT sellers also rose by 69.8%, totaling 198,450, signaling an improved trading environment and heightened market engagement.

Below is a breakdown of what happened in the NFT market over the past week.

Ethereum maintains lead while Solana, Bitcoin follow

Blockchains by weekly NFT sales volume | Source: CryptoSlam

Over the last few weeks, Ethereum (ETH) continued to dominate the NFT market with $36.6 million in total sales, bolstered by 35,236 buyers—a 46.31% increase from the previous week. 

Solana (SOL) emerged as a strong contender, recording $26.15 million in total sales, thanks to a substantial 114.07% increase in buyers.

The Bitcoin (BTC) NFT market also saw a notable rise, with total sales hitting $21.4 million, driven by a staggering 222.29% increase in buyers.

Polygon (MATIC), which registered the second-best performance in the previous week, saw its total sales volume drop by more than 15%, pushing it down to the #4 spot just ahead of Immutable (IMX).

Other notable performances came from Zora and Blast, which registered the two highest percentage increases in sales volume at 463% and 227%, respectively.

Top collections: Solana Monkey Business shines

NFT collection rankings by weekly sales volume | Source: CryptoSlam

Among the top NFT collections, Solana Monkey Business led the pack with $4.86 million in sales, representing a 168.38% increase. The collection also saw a significant uptick in transactions (137.34%) and the number of buyers (130.84%). 

Close behind was the DMarket collection on the Mythos blockchain, which recorded $4.01 million in sales. Interestingly, it was the only collection among the top 5 by sales volume that registered drops in the numbers of transactions and buyers.

Immutable’s Gods Unchained Cards also made headlines with $3.8 million in sales, reflecting a 61.35% increase. This collection saw notable growth in transactions (76.31%) and buyers (41.21%), showcasing the rising popularity of blockchain-based trading cards.

Top-selling NFTs and fan tokens

In terms of individual sales, Ethereum’s Autoglyphs #167 led with a sale of $274,561, followed by Bitcoin’s Protoshrooms at $148,574. Other significant sales included BNB’s kNFT: Locked kUSDT and Arbitrum’s Umoja Synths, highlighting the diversity and breadth of the NFT market across different blockchains.

Top 5 fan tokens by sales volume

As can be seen in the table above from CryptoSlam, fan tokens also continued to witness explosive growth, with Galatasaray’s token on the Chiliz blockchain recording a $280.5 million in sales. This reflects a 70149.47% increase.

FC Barcelona and Paris Saint-Germain followed with substantial sales volumes, indicating the growing popularity of sports-related NFTs.

Market implications

The NFT market’s latest performance marks a significant turnaround, showing resilience and renewed investor interest after a period of declining sales volumes. 

This is the second straight week of improved sales, suggesting a potential upward trend. Notably, this resurgence comes amid a broader rally in the cryptocurrency market, which is currently valued at $2.55 trillion. 

Major cryptocurrencies like Bitcoin, Ethereum, BNB, and Solana have all registered double-figure price jumps over the past week, further fueling optimism in the digital asset space.

The correlation between the rising crypto prices and the recovering NFT market could be an indication of strengthening confidence among investors, setting a positive tone for the weeks ahead.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Paris Match auctions NFTs to commemorate the magazine’s 75th year

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Paris Match, a French magazine, is auctioning 75 iconic archival photos as Ethereum (ETH) non-fungible tokens (NFTs) to celebrate its 75th anniversary.

The auction kicked off on June 17 and showcased a curated selection of historic images from Paris Match’s archives.

These include snapshots of entertainment icons like The Rolling Stones, Jack Nicholson, Orson Welles, and John Travolta. Images of significant historical moments such as the fall of the Berlin Wall and scenes from Harlem and the Tour de France are also included.

Each NFT purchase will include a numbered and signed physical print of the same photo, bridging the gap between traditional art collecting and digital ownership. Bidding for each photo starts at 0.3 ETH, equivalent to approximately ,062 at current rates.

This initiative marks Paris Match’s second venture into the NFT realm, following a successful sale of 120 unique NFTs in January 2023. The magazine has teamed up with the photo NFT platform Focus Bloc and SuperRare for this auction.

According to CryptoSlam, the global NFT sales volume has seen a 45% surge to .25 million in the last 24 hours, with Ethereum leading at .19 million in sales, followed by Polygon and Bitcoin (BTC).

As of the latest update, Ethereum (ETH)  is trading at ,492.60, marking a 7% price decline over the past month.

Paris Match’s decision to embrace NFT technology and auction its iconic photographic archives reflects its dedication to preserving its cultural legacy while adapting to the digital era. 

Spot Ethereum ETF approval, experts weigh in

According to analysts, the approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) is expected to impact Ethereum’s price significantly. Experts predict Ethereum could see a 60% to 75% surge, similar to Bitcoin’s performance after ETF approval.

Standard Chartered analysts forecast Ethereum could reach ,000 by the end of 2024, driven by an estimated billion influx into Ethereum ETFs within the first year. Meanwhile, other experts like Raoul Pal predict Ethereum could reach ,000 to ,000 during the next bull cycle.

In the world of NFTs, Ethereum holds a dominant position, capturing 72.3% of the market share with a trading volume of .54 billion in 2023. 

This leadership is attributed to Ethereum’s early adoption in the NFT sector, supported by a robust developer community and an extensive ecosystem tailored for NFT creation and trading. 

However, Ethereum faces increasing competition from emerging blockchains like Solana, Bitcoin, and Immutable X, which are gaining traction as viable alternatives.

Ethereum’s strength in NFTs is reinforced by its established infrastructure and widespread recognition. The platform offers numerous NFT marketplaces and tools, making it a preferred choice for developers aiming to create sophisticated and dynamic NFTs.

Despite these advantages, Ethereum encounters scalability challenges, addressed through initiatives such as transitioning to a proof-of-stake consensus (PoS) mechanism and implementing layer-2 solutions like rollups to enhance performance.

In contrast, Solana distinguishes itself among other blockchains by offering lower gas fees and faster transaction speeds, positioning itself as a strong challenger to Ethereum. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Polygon commits 35 million MATIC to nurture projects building on its network

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Polygon has unveiled Season 01 of its Community Grants Program to bolster projects building within the Polygon and Ethereum ecosystems. 

According to a press release shared with crypto.news, starting Jun. 11, the project will allocate 35 million MATIC to developers working on Polygon.

For the first season, the funds would be distributed in MATIC due to the network’s ongoing token upgrade to POL. Subsequently, future grants will be distributed in POL.

For projects to be eligible, they must either be building on Polygon or willing to migrate to the network. One of the goals of the grant is to ensure long-term commitment to the network.

The grant approval would have an average turnaround time of four weeks, with applications being reviewed on a rolling basis. Every project can secure between 5,000 to over 50,000 MATIC in funding.

In the first season, up to 35 million MATIC will be injected into the network. Grant payouts would be scheduled for the first of each month following approval.

Applications would be categorized into two, namely, the General Grant Track and the Consumer Crypto Track.

The general grant track would be applicable for a wide range of projects and doesn’t have any serious limitations.

“For anyone, anywhere, building whatever on Polygon—this is for you,” the announcement said.

Projects in this category would focus on key areas like developer tooling, protocol infrastructure, and decentralized applications (dApps).

The consumer crypto track, on the other hand, will focus on projects driving consumer adoption of cryptocurrency. Key areas of focus include gaming, gamified commerce, decentralized social platforms, AI/blockchain integrations, NFT innovations, etc.

This categorization makes the application process streamlined and ensures appropriate support is provided to every applicant.

All allocations would be overseen by the Community Treasury Board, an independent body in charge of the allocation of funds from the Community Treasury. The board was introduced in April, with proposed members including Quickswap founder Roc Zacharias, Coinbase Wallet creator Peter Kim, and David Gogel from the dYdX foundation.

The board will be responsible for conducting monthly reviews of projects selected for the grant.

The Community Treasury will allocate approximately 100 million POL annually over a ten-year period, totaling 1 billion POL.

Several projects have already received funding from Polygon. Notable names include QuickSwap, a decentralized exchange on Polygon, which received a million grant in 2021. 

Polygon’s Community Grants Program comes days after it acquired blockchain startup Toposware. With this acquisition, the entity behind MATIC aims to bolster its Zero-knowledge development.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News