Stand With Crypto Launches Legal Defense Fund for NFT Projects
The Creator Legal Defense Fund was established by Andreessen Horowitz’s a16z Crypto fund in collaboration with Stand With Crypto and OpenSea. Releases from OpenSea and a16z state that this project aims to offer legal advice and assistance to artists and creators who use blockchain technology , especially those who deal with NFTs. A6z has joined […]
$24M CryptoPunk NFT Sold Quietly as Market Fades
Investor Deepak Thapliyal bought CryptoPunk #5822, a unique alien punk, for 8,000 Ether ($23.7 million) in 2022, setting the highest bid for a CryptoPunk NFT. As the interest in digital collectibles began to decline, the most costly item from the CryptoPunks non-fungible token (NFT) collection was sold for a sum that was not disclosed. NFT […]
NFT Sales Reach $95.42M, Ethereum Leads Amid Declining Market Participation
NFT sales rose 6.29% to $95.42M, led by Ethereum with $32.46M, while Bitcoin-based NFTs fell 10.03%. Non-fungible token (NFT) sales increased by 6.29% from the previous week between August 3 and August 10, 2024, reaching a total of $95.42 million. Nevertheless, the NFT market experienced a significant decrease in the number of participants, with purchasers […]
Immutable Announces Plan to Shut Down NFT Marketplace
Immutable, a blockchain gaming and non-fungible tokens (NFTs) platform, has announced that it will discontinue its NFT marketplace to expand its ecosystem through partnerships. Immutable announced that the marketplace’s operations would cease on August 13. The Immutable software development kit (SDK) was employed to construct the commerce per the network. Subsequently, the network declared that […]
Digital Collectibles Market Drops 45% in Q2
NFT sales volume dropped 45% in Q2 2024 to $2.25 billion, down from Q1’s $4.1 billion, amid Bitcoin’s downward momentum. In 2024, the sales volume of non-fungible tokens (NFTs) decreased by 45% on a quarter-over-quarter basis due to the downward trajectory of the Bitcoin market. In the first quarter of 2024, NFTs maintained the upward […]