1 year ago
In this week’s newsletter, we dive into the dynamic satellite of nonfungible tokens (NFTs) and their interaction connected the integer landscape, arsenic NFT income person skyrocketed to an awesome $129 cardinal successful November, according to information from Nansen. Despite the surge successful sales, OpenSea has laid disconnected a important magnitude of unit arsenic it prepares to motorboat mentation 2.0 of its platform, and Elon Musk unintentionally made a lawsuit for Bitcoin Ordinals. Meanwhile, an OpenSea capitalist has taken a 90% markdown connected their involvement successful the platform, and don’t hide this week’s Nifty News featuring The Simpsons roasting NFTs.
NFT income measurement jumps to $129 cardinal successful November — Nansen data
NFTs person seen a ample summation successful play income volume, with income reaching 29,704 Ether (ETH), worthy astir $56 million, and aboriginal surging to 68,342 ETH (over $129 million) successful a substance of weeks.
NFT marketplace Blur had the highest trading measurement successful the past 30 days, with 161,433 ETH, which is worthy astir $305 million, followed by OpenSea with 52,307 ETH, which is astir $100 million. When it comes to NFT collections, Bored Ape Yacht Club (BAYC) had the highest trading measurement successful the past 30 days, astatine 35,226 ETH, which is astir $66.7 million.
OpenSea lays disconnected 50% of unit with severance successful mentation for mentation 2.0 launch
OpenSea announced connected Nov. 3 that it was laying disconnected employees arsenic portion of its program to motorboat OpenSea 2.0 with a smaller team. The institution has antecedently laid disconnected 20% of its employees successful July 2022 owed to the “crypto winter.” At that time, it had a unit of 230.
According to the company, astir 50% of employees would beryllium affected crossed each functions. Those affected by the wide layoff would person four-month severance packages, accelerated equity vesting, and six months of continued healthcare and intelligence healthcare.
Elon Musk slams NFTs but ends up arguing the lawsuit for Bitcoin Ordinals
Tesla CEO Elon Musk has unintentionally highlighted the lawsuit for Bitcoin Ordinals, besides known arsenic Bitcoin NFTs, during his caller quality connected the Joe Rogan Experience podcast. The billionaire pointed retired that NFTs are often not stored connected the blockchain but are simply URLs linking to JPEG images.
Bitcoin supporters utilized Musk’s comments to reason successful favour of Bitcoin Ordinals, which were launched successful January by developer Casey Rodarmor. Bitcoin Ordinals are akin to NFTs but are stored connected Bitcoin’s blockchain.
OpenSea capitalist marks down involvement successful level by 90%: Report
Coatue Management, a tech concern steadfast based successful the United States, has marked down the worth of its involvement successful the NFT level OpenSea by 90%. The institution reduced its concern from $120 cardinal to $13 million, driving down OpenSea’s valuation to $1.4 billion.
Apart from OpenSea, different Web3 steadfast has besides been marked down. Coatue Management besides marked down its concern successful a Web3 outgo supplier steadfast called MoonPay by 90%.
Nifty News: The Simpsons roasts NFTs, Yuga Labs exec departs aft antisemitic tweets, and more
The animated tv bid The Simpsons has shown an full conception making amusive of NFTs successful its Halloween special. In a conception called “Wild Barts Can’t Be Token,” Homer mints Bart connected the blockchain. The conception continued to poke amusive astatine the manufacture and however the fearfulness of missing retired fuels the market.
CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST
Thanks for speechmaking this digest of the week’s astir notable developments successful the NFT space. Come again adjacent Wednesday for much reports and insights into this actively evolving space.
English (US) 