Reddit’s non-fungible token (NFT) avatars have produced significant market action in the NFT industry, as the collectible’s secondary market sales reached more than $5 million on October 24 across more than 20,000 sales. The demand for Reddit’s collectible NFT avatars minted on Polygon has also spurred over three million Redditors to leverage Reddit’s Vault blockchain…
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Meanwhile, the minting volume of nonfungible tokens have been declining steadily. According to data provided by Polygon and Dune Analytics, the trading volume of Reddit nonfungible token (NFT) avatars has eclipsed $1.5 million in the past 24 hours. The increase represents over one-third of the collection’s cumulative trading volume of $4.1 million since launch. At…
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During the last week, non-fungible token (NFT) sales volume has managed to climb 1.9% higher than the week prior with $85 million in NFT sales in seven days. However, the number of NFT buyers slid by 12.63%, and the number of NFT transactions is down 19.19% on October 23, 2022. NFT Sales Record a Slight…
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Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans…
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Anthony Hopkins, a Welsh actor, director, and producer, has seen his first NFT collection sold out in less than 10 minutes despite the overall soar market conditions and dwindling user interest in digital collectibles. Called “The Eternal Collection,” the project was launched in collaboration with NFT design agency Orange Comet, and featured 1000 original cinematic…
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Uniswap Labs, the firm behind the Uniswap decentralized exchange protocol, announced on Thursday that it raised $165 million in a Series B funding round. According to one report, the capital raise, which sees Uniswap Labs’ valuation rise to $1.66 billion, is the largest by any crypto firm in 2022. Uniswap Completes $165M Capital Raise, Decentralized…
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The art museum in the Eastern Ukrainian city of Kharkiv has partnered with cryptocurrency exchange Binance to offer non-fungible tokens (NFTs) of some of its most valuable artworks. Proceeds from the auction will be used to restore the museum’s activities and support its staff. Ukrainian Museum to Sell 15 Works of Art as Digital Collectibles…
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Japanese video game giant Konami has announced plans to launch a marketplace for trading in-game NFTs, as well as a “wide range” of other Web3-related products and services. The entertainment conglomerate also unveiled that it is looking to add new talent and will recruit a “wide range of talent for system construction and service development…
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The nonfungible token venture, originally scheduled with a half-year road map, lasted a little under four months. United States-based multimedia outlet CNN announced in a tweet on Oct. 10 that it would shut down its nonfungible token (NFT) project less than four months after its launch. Dubbed “Vault by CNN: Moments That Changed Us,” the…
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The anonymous creator, 0xngmi, has developed a new protocol allowing users to become liquidity providers for their nonfungible token collections. According to a recent Twitter post by 0xngmi, the anonymous creator of decentralized finance (DeFi) project aggregator DefiLlama, the smart contract code for a novel nonfungible tokens (NFT) borrowing and lending protocol dubbed “LlamaLend” is…
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