End of August's NFT Sales Tapped All-Time High at $1 Billion, Last Week's NFT Sales Hit $821 Million – Blockchain Bitcoin News

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Bitcoin News 03 September, 2021 - 08:36pm 50 views

What is NFT art?

NFT art is a totally new way of categorizing digital artworks that enables designers to monetize their work. It's supposed to be a quicker process and a more accessible way for designers to produce work and reap the rewards for their creativity. 99designs.comNFT art: what is it, how it works and what it means for the creative industry

by Jamie Redman

Non-fungible tokens (NFTs) have become extremely popular and a great number of NFTs are selling for hundreds of thousands or millions of dollars in crypto. Statistics from nonfungible.com’s market history indicates that on August 29, 2021, seven-day sales broke an all-time high (ATH) at $1 billion in overall sales across all markets and NFT collections. Data from September 1, 2021, indicates sales are down from the ATH at $821 million this week.

Cryptopunks is the top collection selling during the last seven days according to dappradar.com weekly NFT sale statistics. The Cryptopunks project saw $246 million in volume, up 7.32% since the week prior.

The second-largest NFT collection in terms of volume is Mutant Ape Yacht Club (MAYC) which saw $210 million in trade volume. A collection of NFTs called “The Loot for Adventurers” captured the third-largest NFT volumes this week, commanding $150 million in seven days.

Coming in fourth place this week is Axie Infinity as the NFT gaming universe built on Ethereum saw $144 million in weekly volume. The fifth-largest volume belongs to the NFT collection called Art Blocks which saw $144 million in seven days as well.

The top NFT marketplace according to dappradar.com in terms of 24-hour sales is Opensea. The Opensea marketplace saw $179.5 million in volume during the last 24 hours.Opensea is followed by Axie Infinity, Superrare, the Tezo’s NFT market called Hic et nunc, NBA Top Shot and Rarible.

The marketplace Rarible is followed by markets such as Polygon’s Aavegotchi, the Wax blockchain’s Atomicmarket, and the Marketplace that leverages the Ethereum network, Foundation. During the last 24 hours, the top NFT sale belongs to The Loot for Adventurers’ NFT called Bag #748, which sold for 250 ether or $945K. The Bag #748 NFT is followed by Bored Ape Yacht Club #17, which sold for 200 ether or $755K.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On Tuesday, the global talent, sports, and entertainment agency, United Talent Agency (UTA), announced the company has signed three non-fungible token (NFT) projects created by the firm Larva Labs. UTA will work with the NFT collectibles and intellectual property (IP) ... read more.

This week a project called Pleasrdao announced that a notable Doge non-fungible token (NFT) that sold in June 2021 for 1,696.9 ether or over $3.6 million at the time of sale, will be fractionalized. At the time of sale, the ... read more.

Read full article at Bitcoin News

What Will Power NFTs? Probably More NFTs

TheStreet 03 September, 2021 - 07:41pm

Visa   (V) - Get Visa Inc. Class A Report recently announced that it’s getting into the game for non-fungible tokens (NFTs). The finance company hasn’t really jumped into the deep end. Their $175,000 purchase of a single digital image is better described as “dipping their toes” than “going for a swim.” 

Timothy Collins sees it as an interesting move, if not necessarily one that shakes up the market.

He recently wrote on Real Money "Visa jumps into the NFT (non-fungible token) deep end with a purchase of a CryptoPunk. Does this mean NFTs will be a moonshot? No. Does it make Visa an NFT play now? Also, no."

"That being said, there is a takeaway from this. Corporations are getting involved in the NFT market. Arizona Iced Tea teamed up with the ... Bored Ape Yacht Club recently. We could see more corporations turn to NFT for marketing and brand awareness. Essentially, trying to fit in with the 'cool' kids."

Most likely, Collins writes, right back into the NFT market.

"When I meet someone who made their money developing properties, the first thing they talk about after selling a development is what are they going to develop next. A house flipper looks for more houses to flip. A landlord looks for more properties they can rent out."

"If you made your first big killing trading stocks, you're probably going to stay with trading stocks. We know how hard it is to drag the early winner of crypto away from crypto. Why would NFTs be any different? If you make your first million trading NFTs, you're probably going to stay with that same model as long as possible."

In other words, says Collins, as more companies begin to take an interest in the NFT space investors should expect this asset class to grow (although not necessarily stabilize). Every time a company buys an NFT, they have made an investor that much wealthier. Every time an NFT investor gets wealthier, the odds are good that they’ll reinvest at least some of that money back in the NFTs that made them money in the first place.

End of August's NFT Sales Tapped All-Time High at $1 Billion, Last Week's NFT Sales Hit $821 Million – Blockchain Bitcoin News

TechCrunch 03 September, 2021 - 05:30pm

by Jamie Redman

Non-fungible tokens (NFTs) have become extremely popular and a great number of NFTs are selling for hundreds of thousands or millions of dollars in crypto. Statistics from nonfungible.com’s market history indicates that on August 29, 2021, seven-day sales broke an all-time high (ATH) at $1 billion in overall sales across all markets and NFT collections. Data from September 1, 2021, indicates sales are down from the ATH at $821 million this week.

Cryptopunks is the top collection selling during the last seven days according to dappradar.com weekly NFT sale statistics. The Cryptopunks project saw $246 million in volume, up 7.32% since the week prior.

The second-largest NFT collection in terms of volume is Mutant Ape Yacht Club (MAYC) which saw $210 million in trade volume. A collection of NFTs called “The Loot for Adventurers” captured the third-largest NFT volumes this week, commanding $150 million in seven days.

Coming in fourth place this week is Axie Infinity as the NFT gaming universe built on Ethereum saw $144 million in weekly volume. The fifth-largest volume belongs to the NFT collection called Art Blocks which saw $144 million in seven days as well.

The top NFT marketplace according to dappradar.com in terms of 24-hour sales is Opensea. The Opensea marketplace saw $179.5 million in volume during the last 24 hours.Opensea is followed by Axie Infinity, Superrare, the Tezo’s NFT market called Hic et nunc, NBA Top Shot and Rarible.

The marketplace Rarible is followed by markets such as Polygon’s Aavegotchi, the Wax blockchain’s Atomicmarket, and the Marketplace that leverages the Ethereum network, Foundation. During the last 24 hours, the top NFT sale belongs to The Loot for Adventurers’ NFT called Bag #748, which sold for 250 ether or $945K. The Bag #748 NFT is followed by Bored Ape Yacht Club #17, which sold for 200 ether or $755K.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On Tuesday, the global talent, sports, and entertainment agency, United Talent Agency (UTA), announced the company has signed three non-fungible token (NFT) projects created by the firm Larva Labs. UTA will work with the NFT collectibles and intellectual property (IP) ... read more.

This week a project called Pleasrdao announced that a notable Doge non-fungible token (NFT) that sold in June 2021 for 1,696.9 ether or over $3.6 million at the time of sale, will be fractionalized. At the time of sale, the ... read more.

NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market

The Athletic 03 September, 2021 - 07:29am

The NFL informed teams last month they could not, for now, sell sponsorships to cryptocurrency trading firms, multiple club sources said. Teams also cannot sell non-fungible tokens (NFTs) as the league develops a strategy in the hot and cold market for sports digital trading cards and art.

Other leagues have opened the floodgates for digital assets, but the NFL is notoriously cautious with new commercial categories, going slowly, for example, with gambling and alcohol before relaxing its restrictions. In the case of cryptocurrency, the league will only, for the moment, allow teams to align with companies that are a step removed from the trading, the asset managers that sell funds to track the digital currency markets.

“Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy,” according to the new guidelines, as read by a team official, who requested anonymity. 

A blockchain is a digital ledger whose technology powers crypto and NFT sales.

The restrictions would appear to exclude some of the principal players in crypto, like FTX, a digital currency exchange endorsed by Tom Brady that has been on a bit of a sports deal binge, including finalizing a 19-year, $135 million naming rights agreement for the Miami Heat’s arena and a 10-year, $210 million agreement to switch the name of esports organization Team SoloMid to TSM FTX. 

The NFL is also ruling out, for the time being, team NFTs. The NBA has had great success with NBA Top Shot, its vault of NFTs, which are digital highlights marketed as unique to the buyer. NBA Top Shot is operated through the league, and not by teams. 

What the policy does allow, the team official said, is sponsorships with “companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, provided that such advertising sponsorship rights are limited to promoting the company's corporate brands.”

NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market

Motley Fool 03 September, 2021 - 07:29am

The NFL informed teams last month they could not, for now, sell sponsorships to cryptocurrency trading firms, multiple club sources said. Teams also cannot sell non-fungible tokens (NFTs) as the league develops a strategy in the hot and cold market for sports digital trading cards and art.

Other leagues have opened the floodgates for digital assets, but the NFL is notoriously cautious with new commercial categories, going slowly, for example, with gambling and alcohol before relaxing its restrictions. In the case of cryptocurrency, the league will only, for the moment, allow teams to align with companies that are a step removed from the trading, the asset managers that sell funds to track the digital currency markets.

“Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy,” according to the new guidelines, as read by a team official, who requested anonymity. 

A blockchain is a digital ledger whose technology powers crypto and NFT sales.

The restrictions would appear to exclude some of the principal players in crypto, like FTX, a digital currency exchange endorsed by Tom Brady that has been on a bit of a sports deal binge, including finalizing a 19-year, $135 million naming rights agreement for the Miami Heat’s arena and a 10-year, $210 million agreement to switch the name of esports organization Team SoloMid to TSM FTX. 

The NFL is also ruling out, for the time being, team NFTs. The NBA has had great success with NBA Top Shot, its vault of NFTs, which are digital highlights marketed as unique to the buyer. NBA Top Shot is operated through the league, and not by teams. 

What the policy does allow, the team official said, is sponsorships with “companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, provided that such advertising sponsorship rights are limited to promoting the company's corporate brands.”

NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market

The Times 03 September, 2021 - 07:29am

The NFL informed teams last month they could not, for now, sell sponsorships to cryptocurrency trading firms, multiple club sources said. Teams also cannot sell non-fungible tokens (NFTs) as the league develops a strategy in the hot and cold market for sports digital trading cards and art.

Other leagues have opened the floodgates for digital assets, but the NFL is notoriously cautious with new commercial categories, going slowly, for example, with gambling and alcohol before relaxing its restrictions. In the case of cryptocurrency, the league will only, for the moment, allow teams to align with companies that are a step removed from the trading, the asset managers that sell funds to track the digital currency markets.

“Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy,” according to the new guidelines, as read by a team official, who requested anonymity. 

A blockchain is a digital ledger whose technology powers crypto and NFT sales.

The restrictions would appear to exclude some of the principal players in crypto, like FTX, a digital currency exchange endorsed by Tom Brady that has been on a bit of a sports deal binge, including finalizing a 19-year, $135 million naming rights agreement for the Miami Heat’s arena and a 10-year, $210 million agreement to switch the name of esports organization Team SoloMid to TSM FTX. 

The NFL is also ruling out, for the time being, team NFTs. The NBA has had great success with NBA Top Shot, its vault of NFTs, which are digital highlights marketed as unique to the buyer. NBA Top Shot is operated through the league, and not by teams. 

What the policy does allow, the team official said, is sponsorships with “companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, provided that such advertising sponsorship rights are limited to promoting the company's corporate brands.”

Why Are NFT Collectors Looking for Loot on Ethereum?

Crypto Briefing 03 September, 2021 - 06:45am

The items listed on the NFTs follow a high fantasy theme, similar to items in games such as World of Warcraft or Dungeons and Dragons.

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