Monthly NFT sales fall below US$1 billion for first time in 12 months

In June, the problems at crypto hedge funds and lenders got most of the attention, but the non-fungible token (NFT) market also took a hit, with monthly sales falling below $1 billion for the first time in a year, according to CryptoSlam, a company that collects NFT data.

The falling prices of cryptocurrencies are partly to blame for the low sales of NFTs, but the number of unique monthly buyers also dropped by almost 50 percent in June. In January, there were more than 1 million unique monthly buyers, but now there are less than 600,000 for the first time since July 2021.

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70% Investers were predicted but only 11% left the market.

Even though everyone is talking about bearish things, most of them haven’t left the crypto market. They just want the bottom to come.

Bitcoin’s market cap fell by 70 percent from its peak, but stablecoin’s fell by only 11 percent.

But it would be wrong to compare the capitalization of volatile assets like Bitcoin over different time periods to figure out how many investors left the space. Instead, the analyst suggested that the market value of stablecoins be looked at.

In the case of stables, the capitalization dropped by “only” 11 percent, which shows that the cryptocurrency didn’t take as much of a hit as most bearish analysts and economists thought it would.

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Mona Raises $14.6 Million for Creative Metaverse

Platform for the Metaverse Mona has raised $14.6 million towards the creation of a creative metaverse.

Mona is a metaverse world-building arena that gives 3D producers with a platform and network to design, mint, and sell interactive metaversal worlds packaged as non-fungible tokens (NFTs).

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Ethereum average gas fee falls down to $1.57, the lowest since 2020

Between January 2021 and May 2022, the average gas rate charged by the Ethereum network was around $40, with the highest average daily gas cost of $196.638 on May 1, 2022.

The extraordinarily high transaction costs or gas fees required to conduct a transaction are frequently cited as the Ethereum (ETH) ecosystem’s primary impediment to mainstream dominance. However, with Ethereum’s average gas fees falling below 0.0015 ETH, the story is about to change.

The average transaction price on the Ethereum network has decreased to 0.0015 ETH or $1.57, a figure last seen in December 2020.

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Mark Zuckerberg issues dire economic warning to Meta employees

Mark Zuckerberg has sent a chilling warning to Meta Platforms Inc. employees: the firm is experiencing one of the “biggest downturns that we’ve seen in recent history,” necessitating a reduction in recruits and resources.

According to the New York Times, the gloomy economic forecast was provided during an internal videoconference meeting for Meta’s 77,800 employees on Thursday. To emphasize the foreboding message, Zuckerberg informed staff that they will be expected to achieve more with less resources and that their performance would be more rigorously judged.

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Texas man puts life savings into buying virtual property

Justin Reed claims he spent $18,000 for the Khorum Coast in the Entropia Universe, an online virtual reality game.

“I know it seems like a lot, and it’s weird to tell someone that I’m a virtual landowner, and I invested my life savings into it.” “But I believe in Entropia,” Reed, whose avatar is David Joker, stated.

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Street Artist Seek One Collaborates with NFT Platform One Of None, For The Vault Club Gallery During NFT NYC

During an NFT NYC celebration, contemporary street artist named Seek One partnered with One of None, the NFT platform. Last week’s event at the Infinite Reality Gallery celebrated numerous artists and their future ambitions using NFTs.

This event was a big success, and it achieved its purpose of exploring the One of None Vault Club’s physical and digital art. The event’s two collaborators displayed their dedication to art and demonstrated that NFTs are indeed the future of the creative industry.

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