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ICYMI: Top 5 NFTs news weekly recap

Top NFTs weekly recap

The NFTs market has a great start this year following new project releases and increases in sales volume for different collections, including the Bored Ape Yacht Club (BAYC). Much exciting news went by this past week, and below are the top highlights you probably missed. 

OpenSea records $3.3 billion in January

Opensea still has its dominance in the NFT market. The leading marketplace secured more than $987 million in sales with 226k buyers this past week and reportedly over $3.3 billion in volume so far in January. The increase in the sale volume in OpenSea is a result of the growing number of traders on the platform. 

OpenSea surpassed one million traders last week.

ICYMI: Top 5 NFTs news weekly recap 1

BAYC floor price spikes

Bored Ape Yatch Club (BAYC) is unarguably one of the biggest NFT projects with a vibrant community and impressive sales record in the entire market. Last week, BAYC recorded about $50m in sales with 150 buyers. Some of the NFTs were sold for 400 Ether (ETH), an equivalent of $1.3 million at the current price. 

More interestingly, the floor price for BAYC NFTs spiked to 83 ETH, just as the project began the registration for their mobile game competition. 

Meta open to hire and invest in Metaverse

Ever since Facebook rebranded to Meta last year, it has been actively committing and building for its metaverse project. The company revealed it still plans to hire about 10,000 people to work on the metaverse. It also intends to inject up to $10 billion into the project this year.

Metaverse is a virtually-enhanced world that will potentially complement NFTs. It’s expected that digital assets, especially crypto arts will play a vital role in the metaverse, which essentially unlocks more use cases for NFTs.

Coinbase CEO expect the next billion people from NFTs

Brian Armstrong, the CEO of the publicly-traded cryptocurrency exchange Coinbase, is betting big on the NFT market. He recently opined that NFTs will usher in the next billion people in the cryptocurrency space. This translates to more growth for both NFTs and digital currencies. 

China might legalize NFTs 

On several occasions, the Chinese government has clearly shown it doesn’t support cryptocurrency trading and mining. However, a state-backed blockchain company Blockchain Services Network plans to debut an infrastructure for buying and selling NFTs, which somewhat indicates the government has a different stance on crypto arts. 

As the chief executive officer, He Yifan, explained, NFTs “have no legal issues in China.”

Quick Rundown:

  • Over $100 million NFTs have been traded on Immutable gas free
  • World of Women NFT recorded $35m in sales with 1146 buyers
  • Garyvee launches Book Games, a first-of-its-kind Layer 2 NFT project
  • Konami releases Castlevania 35th Anniversary NFTs
  • Genie reached 14,000+ ETH in weekly volume
  • Coinbase NFT welcomes @smilesssvrs & @stonercatstv 
  • TheSandboxGame is airdropping the SAND token to Land owners
  • The Associated Press announces NFT marketplace
  • Caked Apes sold out shortly after launch
  • Bybit NFT marketplace launching 1/20
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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