Art NFTs became a hot topic in the Web3 industry during 2021 and 2022, experiencing a surge in popularity. That year, trading volumes peaked at $2.9 billion, fueled by record-breaking sales such as Beeple’s Everydays for $69.3 million. Fast forward to Q1 2025, and the market has nearly collapsed, with trading volume down 93% to […]
In the fourth quarter of 2024, the total NFT sales volume across Immutable X and Immutable zkEVM increased by 55.3% quarter-over-quarter. Messari’s latest analysis revealed that the figure rose from $51.2 million to $79.5 million. Market Participation Plummets Despite this growth, both the average daily sellers and buyers declined significantly, with daily sellers dropping 43.0% […]
After more than two years under regulatory scrutiny, Yuga Labs announced that the US Securities and Exchange Commission (SEC) has officially closed its investigation into the company without taking enforcement action. While the agency has not disclosed the specific reasoning behind its decision, the move aligns with a broader shift in the SEC’s approach to […]
The non-fungible token (NFT) market appears to have lost out on significant gains in the past year despite a broader rally in the digital asset industry. In fact, the NFT market faced its weakest performance since 2020 in the year 2024. NFTs Face Major Setbacks in 2024 According to DappRadar’s latest edition of ‘Dapp Industry […]
The broader non-fungible token (NFT) market has defied expectations after it surpassed last year’s revenue milestone. Data collected by CryptoSlam shows that with less than a week left before 2024 ends, NFT sales for the year have amounted to $8,717,920,832, edging out 2023’s tally by about $230,000. The Numbers Last year, the sector recorded more […]
RTFKT, the creators of non-fungible token (NFT) sneakers and avatars acquired by Nike in 2021, has announced its closure. The firm revealed in a December 2 post on X that it will wind down operations by January 2025. Final Collection and Legacy Tribute “Today, we’re announcing the plan to wind down RTFKT operations,” the post […]
A recent analysis has revealed that the non-fungible token (NFT) market struggled in 2024, with untimely price drops and several failed projects. The research by NFTevening and digital PR agency Storible examined more than 29,000 NFT collections released throughout the year, compiling data from OpenSea and Dune analytics. NFT Market Profitability Struggles Dubbed “State of […]
The iconic NFT collection CryptoPunks appears to be making a comeback this year amidst the ongoing NFT bear market. According to CoinGecko, the CryptoPunks collection currently leads the NFT market with a 30.9% share among the top collections, a position it solidified after surpassing Bored Ape Yacht Club (BAYC) in May 2023. CryptoPunks Sees Resurgence […]
OpenSea, one of the most prominent NFT marketplaces, has experienced a significant downturn in its overall business operations due to several factors, including low engagements in the sector. Over the past few months, some top employees have left the company to work elsewhere as the firm’s troubles continued to pile up. With a significant reduction […]
The non-fungible token (NFT) market has witnessed explosive growth, followed by significant downturns over the past few years. Despite the initial hype and heavy investment, it is now grappling with severe instability. According to a report from nftevening.com, a staggering 96% of NFTs are considered “dead” based on three factors – zero trading volume, minimal […]
- 1
- 2