In this week’s newsletter, read how the first bitcoin-based non-fungible tokens (NFTs) from Yuga Labs earned $16.5 million in 24 hours and how the bitcoin NFT market will reach $4.5 billion by 2025 dollars can reach. Watch how Binance’s artificial intelligence NFT generator hit 10,000 mints 2.5 hours after its launch and find out how the Flare blockchain got its own NFT marketplace. And don’t forget this week’s Nifty News, where Square Enix’s NFT-friendly CEO is stepping down.
Yuga Labs’ first Bitcoin NFT auction raises $16.5 million in 24 hours
In the first 24 hours of Yuga Labs’ Bitcoin Ordinals NFT auction, the company earned 735 bitcoin (BTC) — around $16.5 million at the time — from its “TwelveFold” collection, with 288 bidders winning a piece of the Bitcoin NFT -Collection won.
According to Yuga Labs, winners will receive their entries within a week of the auction. However, those who did not make the top 288 will have their money returned to their receiving address.
Continue reading…
Galaxy predicts the Bitcoin NFT market will hit $4.5 billion by 2025
The research arm of asset management firm Galaxy Digital predicts that the rapidly developing Bitcoin NFT market will eventually reach a market cap of $4.5 billion by March 2025.
The report pointed out that the $4.5 billion estimate was due to the “rapid development” of inscription awareness and the existing market and wallet infrastructure.
Continue reading…
Binance’s AI-powered NFT generator hits 10,000 mints in 2.5 hours
Crypto exchange Binance’s NFT generator, powered by artificial intelligence (AI), hit 10,000 mints in just 2.5 hours after its beta launch. Dubbed “Bicasso,” the AI can transform creative visions into NFTs, according to Binance CEO Changpeng Zhao.
As with other AI-powered image generators, users can upload images such as their profile pictures and other creative prompts to help the AI have a reference before generating images.
Continue reading…
Flare gains NFT platform to expand use cases for interoperability protocols
Ethereum virtual machine oracle platform Flare launched its own NFT marketplace. Sparkles was introduced on Flare’s Layer 1 blockchain to expand the platform’s use cases for NFTs.
The NFT marketplace also aims to find solutions to problems found within the space, including intellectual property (IP) rights. According to Sparkles, it will attach on-chain IP licensing to collections in the future.
Continue reading…
Nifty news: Dan Harmon’s NFT show for Season 3, NFT-friendly Square Enix CEO resigns, and more
Square Enix CEO Yosuke Matsuda is stepping down after nearly a decade. Matsuda is known to be very friendly to NFTs and has taken a bullish stance on Web3 games during his time at Square Enix. Under Matsuda’s leadership, the company took several steps to enter the world of Web3.
Continue reading…
WATCH COINTELEGRAPH’S NFT STEEZ PODCAST
Thank you for reading this round-up of the week’s most notable developments in the NFT space. Check back next Wednesday for more reports and insights into this actively evolving space.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.