Mark Cuba drops wallet NFTs, market volume down 45%: Nifty Newsletter
In this week's newsletter, read about Japanese gaming company Konami's partnership with Avalanche on a new non-vulnerable token (NFT) platform. See how Bitwise's announcement can be flipped as an NFT and get the latest on billionaire Mark Cuban's wallets that sell NFTs. In other news, the digital collections market size is expected to decline by 45% in the second quarter of 2024.
Konami has partnered with Avalanche for Resella NFT platform launch.
Konami Digital Entertainment is partnering with Avalanche blockchain to launch a new NFT platform called “Resella”. This new solution aims to simplify Web3 services, making it easier for companies to adopt blockchain technology.
Resella eliminates the need for foreign Web3 wallets, allowing transactions in Japanese Yen, which caters to the Japanese market. It also aims to provide new social experiences and streamlined NFT transactions by bridging traditional games and Web3.
Continue reading
Bitwise's recent announcement that Ethereum could be implemented as an NFT.
Bitwise has launched its first Ether (ETH) exchange-traded fund (ETF) business with a Web3 twist. NFT enthusiasts can mine the 39-second clip on Ethereum. The income goes to the actors, and a common funding mechanism is created by the main contributions of Ethereum.
Bitwise called the ad a “piece of history” and featured a young man representing Ethereum and an older man representing “big finance”. Advertising themed around Ethereum's fixed hours contrasts with the limited hours of traditional finance.
Continue reading
Mark Cuban wallet is seen dropping NFTs after two years of inactivity.
Billionaire Mark Cuban's crypto wallet resumed activity on June 23, after a two-year hiatus from selling NFTs. The wallet, under the Ethereum name service domain “markcuban.eth,” has downloaded a variety of NFTs, including EulerBeats Genesis, DeepBlack, Pudgy Penguins, and Wrapped MoonCats.
Cuban's NFT sales coincide with the security breach of his Gmail account on June 23. The investor revealed in a social media post that his account was compromised due to a fraudulent call.
Continue reading
The digital collectibles market saw a 45% decline in Q2.
NFT sales fell by 45% in the second quarter of 2024, matching Bitcoin's bearish trend. According to CryptoSlam data, NFT sales reached $2.24 billion, the lowest since Q3 2023. This sharp decline contrasts with Q1 2024's $4.1 billion volume, which continued growth from Q4 2023's $2.9 billion.
June 2024 saw a sharp decline, with the average NFT sale price down 59% compared to March. The month is on track to record the lowest number of NFT transactions since March 2021.
Continue reading
Thanks for reading this recap of the week's most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively growing space.
