Nft market Financial News

The NFT market is experiencing a tumultuous slump, with tensions rising between traders and creators of digital collectibles rising amid controversy surrounding royalties. 

The security team at Binance has helped recover a portion of the funds crypto influencer NFT God had lost in an exploit earlier this year. 

Binance's 120-page "Half-Year Report 2023 July 2023," released on July 20, provides insights into the current state of the crypto market, almost two years after its peak in late 2021.

Dapper Labs, the non-fungible token (NFT) collectibles company behind NBA Top Shot, recently bid farewell to an additional 51 employees, following a previous staff reduction of 20% in February earlier this year.

Popular NFT marketplace and protocol Rarible launched its NFT marketplace builder for Polygon-based NFT collections on January 18. Any Polygon-based NFT collection will be able to use the new self-serve tool to build their own customized marketplaces for free to connect with their communities.

FanTiger has launched its debut music NFT with renowned Punjabi singer and actress Sunanda Sharma on its official website. FanTiger claims to be India’s first dedicated music NFT marketplace. With this launch, Sunanda Sharma has become the first female Punjabi singer to enter the NFT space.

NFT and crypto space that you need to know about:Own Your Art With the cost of NFTs hitting new records each time, small time crypto investors have been feeling left out of the art NFT scene. After all, how many of us can afford a Bored Ape NFT that costs lakhs of rupees? One trend that has caught on to counter this is what is known as Fractionalised NFTs in which ownership is shared among multiple owners so as to bring down the price of an artwork to an affordable level. A popular example is famed street artist Banksy’s Gorilla in a Street Mask NFT that will be sold as a collection of 10,000 fractionalised NFTs for $750 each.Gaming Gets NFT-fied With in-game NFT assets being developed by some of the top names in the gaming space, its no wonder GameFi (gaming and finance) is fast getting traction among users and developers alike. One of the biggest names in this space is Axie Infinity that is inspired by Pokemon that features collectible pets called ‘Axies’. It has reportedly collected over a billion dollars of in-game assets through its tokens that can be used in the game’s ecosystem. Gaming and NFTs seem like a match in heaven and we’re just getting started with what can be done. This year, keep an eye out for NFTs from games like Thunder Lands and Metawars among others.

NFT bubble isn't popping, but it may have sprung a leak. A year on from when a single non-fungible token sold for $69.3 million in crypto at Christie's auction house, with the buyer paying to be recorded on blockchain as the owner of a digital file that anyone can see online for free, this weird and wild market is showing some signs of slowing down. Sales on OpenSea, the largest NFT marketplace, had reached nearly $5 billion in January, a giant leap from the $8 million a year before, but declined to around $2.5 billion last month.

Sportzchain has launched exclusive NFTs of Tamil Thalaivas, a Pro-Kabaddi team. These exclusive NFTs are now available on Sportzchain’s NFT-page hosted on NgageN. The development will take place in two phases. The first phase includes the digital collectibles of player cards and exclusive moments from Tamil Thalaivas’ last season in the Pro Kabaddi League (PKL). Those who possess the digital collectibles will be eligible to purchase one-of-a-kind phygital collectibles, which will be Tamil Thalaivas players’ signed memorabilia honoring a notable achievement during last season.

MakeMyTrip on Monday announced to foray into the world of non-fungible tokens (NFTs) to celebrate the popular as well as unexplored travel landscapes in the country. The first batch of these digitally-crafted artworks cover the majestic landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan and Andamans. MakeMyTrip said it will pass on all proceeds from the sale of these NFTs to promote sustainable tourism in the country.

Nor would Sotheby's founder Samuel Baker, auctioning hundreds of rare books for about $1,000 in 1744, have envisioned selling a copy of the original source code for the web, as a non-fungible token (NFT), for north of $5 million. Times change.

The latest fund raising came a little over a year after its last round, as the company saw fast growth in monthly active users and crossed $144 million in transaction volume on the platform. It also marks Vision Fund 2's first investment in a company that issues its own cryptocurrency.The Sandbox, majority-owned by blockchain gaming developer Animoca Brands, allows players to build, own, and monetize their virtual gaming experiences on the Ethereum blockchain.

WWE has inked a deal with Blockchain Creative Labs to launch an NFT marketplace soon. It is an exclusive multi-year agreement for licensed digital WWE tokens and collectibles.