NFT

Nifty News: OpenSea dominance fades, Azuki skateboards fetch $2.5M and more

Opensea’s dominance begins to waiver

Nonfungible token (NFT) market Opensea has seen its opponents chomping at its ankles this yr as they acquire market share — turning the market from a “monopoly” into an “oligopoly,” a brand new report states. 

Binance Market Pulse released on Oct. 20 says there was a sluggish and regular change in market management, noting that whereas OpenSea remains to be the dominant market when it comes to customers and quantity, Ethereum (ETH)-based exchanges X2Y2 and Looksrare have been gaining their share of the market over 2022. 

The report additionally identified that OpenSea is dealing with stiff competitors relating to Solana (SOL)-based NFTs, its most used native market Magic Eden is a “shut second” to the multi-chain OpenSea trade.

OpenSea’s market dominance when it comes to quantity peaked in Might 2022 however has seen a decline since. Picture: Binance

It comes amid a potential sea-change throughout NFT marketplaces.

On Oct.14, the Solana-native NFT market Magic Eden opted to introduce non-compulsory royalties on its platform, following an identical transfer by the Ethereum-based market X2Y2 in August.

It famous that the “market has been shifting in direction of non-compulsory creator royalties for awhile.”

Binance’s Q3 report added that Ethereum general nonetheless dominates holding 65% of the NFT quantity market share on the finish of the third quarter, however NFT patrons could also be transferring blockchains in quest of earnings or following the most recent tendencies.

The information additionally reveals Solana’s NFT gross sales quantity elevated by 13% in Q3 and Ethereum’s dropped by 16% for the reason that finish of the second quarter.

Document-breaking bids on first wave of ‘Bodily Backed Tokens’

The Azuki NFT mission has damaged the document for the most costly skateboard ever offered, with the very best bid for a limited-edition Pure gold-plated skateboard fetching 309 ETH, or $400,000. 

A complete of eight skateboards had been offered via its new Bodily Backed Token (PBT) expertise, netting the mission a complete of $2.5 million price of ETH.

The best bid far surpassed the earlier document holder, the over $38,000 “Blowin’ within the Wind Skateboard” created by skateboarder Jamie Thomas which included handwritten lyrics from singer Bob Dylan.

It was the primary time the mission applied its Bodily Backed Token (PBT) expertise normal.

PBT is a token normal created by the mission that makes use of a cryptographic chip to authenticate possession of a bodily merchandise, producing an NFT in a consumer’s crypto pockets after its scanned with a cell phone.

MLB gamers union seeks NFT licensing supervisor

The union representing all Main League Baseball (MLB) gamers seems to be taking a look at increasing its members’ presence in Web3, because it appears to be like to hire a licensing supervisor to assist increase its portfolio throughout NFT, Metaverse, digital video games and augmented and digital actuality expertise.

The job posting by the MLB Gamers Affiliation states that “NFTs, the Metaverse, wearable expertise, and AR/VR are a part of our increasing enterprise mannequin” with the position requiring the particular person to create “robust relationships” with “crypto tasks”.

A serious position of the MLB Gamers Affiliation is helping sponsors searching for to affiliate their model or product with gamers, the affiliation holds the rights to license and use the names, nicknames, likenesses, and different indicating data of MLB gamers to be used to that finish.

Warner Bros launches NFT-gated unique movies

Leisure firm Warner Bros is trying to make use of NFTs to distribute unique content material and movies after announcing on Oct. 20 that it partnered with Web3 agency Eluvio to launch its NFT-backed “WB Movieverse.”

The “movieverse” is actually Warner Bros-owned movies obtainable on-line utilizing NFTs as authentication for customers to entry the movie together with associated unique content material similar to behind-the-scenes movies and pictures.

The primary providing in its movieverse sees a 4K decision prolonged version of 1 if its Lord of The Rings titles together with bonus materials made obtainable via two tiers of NFTs. 

Associated: Magic Eden defends launch of NFT royalty enforcement instrument

The sold-out higher tier of 999 NFTs was priced at $100 however now sees a mean itemizing value of $2,500 in response to the official secondary listings page, whereas the decrease tier of 10,000 NFTs is priced at $30.

Warner Bros has delved into the NFT house earlier than, just lately licensing characters from its DC Comics-owned properties to popular culture model Funko to promote Walmart-exclusive NFTs.

Extra Nifty Information:

Metaverse on line casino Slotie has been hit with a number of stop and desist orders from state-level authorities in america who allege Slotie hasn’t registered as a broker-dealer, failed to offer the right disclosures as a playing platform and think about its NFTs to be unregistered securities.

Ethereum-based NFT market Rarible upgraded its platform on Oct. 20 including an aggregation instrument that permits customers to browse and buy Ethereum NFTs from different marketplaces similar to Rarible, OpenSea, LooksRare, X2Y2, and Sudoswap.

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