NFT Journal: Chapter Forty-Seven
It is with great delight that we welcome you to the NFT Journal’s forty-seventh edition.
Exciting Highlights from NFT.NYC 🎨
Last week, one of the largest NFT conferences took place in New York, USA, and we’re here to share all the juicy details. Even though it was a challenging time for crypto enthusiasts, NFT lovers and communities attended the conference in droves, with over 15,000 participants and 1,500 speakers.
In addition to the 15 billboards displayed across Times Square, there were exclusive NFT events such as parties, dinners, art exhibitions, panel discussions, and fireside chats with prominent industry figures, Blockchain celebrities, creators, and artists.
NFT.NYC collaborated with 221 NFT community artists to launch the NFT.NYC 2022 Diversity of NFTs Art Collection, which gives the artist 75% of the proceeds from primary sales.
It was also an exciting time for us at NFTYLabs as we unveiled Social Pass Mobile, an innovative scanning solution for event organizers.
Similarly, Bored Ape Yacht Club and Rolling Stone collaborated to release two 1/1 NFT collections, featuring NFT collectibles from both Bored Ape Yacht Club and Mutant Ape Yacht Club. Printed versions of the NFT bearing the signatures of top artists and the founders of Rolling Stone will also be given to auction winners.
Additionally, Doodles, a quirky NFT project, reveals famous musician Pharrell Williams as its Chief Brand Officer. Apart from influencing the brand’s approach to art and music, he will also be producing Doodle’s upcoming album.
Lastly, IsmToys, a company that produces the toy versions of popular NFTs like Bored Ape Yacht Club, got a sales boost after participating in NFT.NYC after receiving 200 orders for the next month. The company, which Asian Canadian teenager Ricky da Luz started, has sold over 300 toy replicas of NFT since January.
The Season of Acquisitions
Uniswap, a decentralized exchange platform, acquired Genie to add NFT to its product suite. The acquisition of the NFT marketplace aggregator will enable the Uniswap web app to support NFTs, allowing users to view and purchase NFT listings. In celebration of the deal, Uniswap plans to airdrop USDC stablecoin to Genie Genesis early holders and let Genie users continue using its services till Uniswap’s NFT integration is ready.
Similarly, e-commerce giant eBay acquired the KnownOrigin NFT marketplace. The co-founder of KnownOrigin stated that the partnership would increase its reach and empower more artists and creators. eBay CEO Jamie Iannone noted that this action would make eBay the leading site to buy the rarest and most unique digital assets.
Market Round-up 🚀
The top three most expensive NFTs sold last week are from CryptoPunk’s NFT collection. V1 PUNK #2711 ranked fourth with a volume of $268.6K. The last on the list is Bored Ape Yacht Club, with $262.97K volumes.
For the first time in a while, Terrafoams by Mathcastle lost its top position on the NFT collection list as More Loot surpassed it with a $78.25 million volume. With $49.14million and $23.29million in volume, Meebits and Terrafoams by Mathcastle came second and third, respectively. CryptoPunks and Dreadfulz, ranked last, earned a volume of $21.68 million and $17.82 million, respectively.
Surprisingly, a new marketplace called X2Y2 outperformed the largest marketplace (OpenSea) with a volume of $145.23 million. OpenSea and LooksRare are in second and third place, respectively, with volumes of $117.31 million and $54.62 million. With volumes of $28.12 million and $19.67 million, respectively, Magic Eden and CryptoPunk are the last two on the ranking list.
About NFTY Labs
NFTY Labs is a Web3 Incubation Studio focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.