NFTY Labs
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NFTY Labs

NFT Journal: Chapter 30

It is with great delight that we welcome you to the NFT Journal’s thirtieth edition

For The Greater Cause ❤️‍🩹

The NFT sector has previously demonstrated that it is a charity-friendly industry on multiple occasions. And, as the entire globe rallies around Ukraine, NFTs and other major cryptocurrencies are being utilized to help the cause.

Firstly, the infamous Russian art group Pussy Riot teamed up with Trippy Labs and PleasrDao to launch UkraineDAO, a platform to collect donations for the victims of what has been dubbed the World’s First Crypto War. The DAO will also be selling Ukrainian relics as NFTs, with the proceeds going to war relief organizations.

Additionally, after the official Ukrainian Twitter account published a couple of wallet addresses, thousands of crypto-natives, including Vitalik Buterin and Justin Sun, donated cryptocurrencies to support the victims of the ongoing war between Russia and Ukraine. So far, over $17 million has been collected, including the proceeds from an NFT collection’s sale worth $1.86 million.

That’s not all. A couple of famous NFT community members have compiled a list of talented Ukrainian NFT artists to empower them. From direct donations to NFT auctions to project pledges, it’s heartening to see the NFT community helping out local artists in their time of need.

What’s New in the World of NFT? 🎨

The Neon NFT platform has launched an NFT vending machine in New York City, making NFT more accessible. Users will be able to purchase a box with a unique code redeemable by Neon using a debit or credit card and mobile payment.

Likewise, Rakuten, a Japanese internet company, launched an NFT marketplace with additional unique features, including an efficient infrastructure that allows NFT holders to trade NFTs on their websites. Users will also earn Rakuten coins when they trade NFT with their designated IDs.

My Robben Island, an NFT collection for Nelson Mandela, former president of South Africa and Nobel Peace Prize winner, will be sold. The NFT set includes five watercolors by Nelson Mandela and a handwritten motivational essay that reflects his time in jail. Proceeds from the sale of this collection will help complete a memorial garden being built for the anti-apartheid hero.

Market Roundup 🚀

It seems OpenSea has reclaimed its crown for good as it continues to lead the NFT marketplace ranking list with $660.82 million in revenue. LooksRare came in second with $645.4 million in sales. BloctoBay and Axie Infinity are ranked third and fourth, respectively, with $73.78 mill on and $20.24 million in sales volume. Solana’s Magic Eden is at the bottom of the top 5 list, with a sales volume of $17million.

Terraforms by Mathcastle remains the best-selling NFT collection, with $240.8 million in sales. Meebits came in second on the ranking list with a sales volume of $160.04 million. With $58.38 million and $43.24 million in revenue, More Loot and Dotdotdots are third and fourth, respectively. Azuki is the last on the list, with a sales volume of 31.53million.

The most expensive NFT sold last week was Bored Ape Yacht Club #4580, which went for $1.73 million. With $1.49 million and $1.3 million, respectively, Bored Ape Yacht Club #1837 and Golden Friend came in second and third on the top 5 most expensive NFT sold list. The last two NFTs on the list are Bored Ape Yacht Club and CryptoPunk #7501, sold for $787.27k and $607.89k, respectively.

On the investment front, GBV and Sanctor Capital led a £3.5 million fundraising round for KnownOrigin, an artist-centric NFT platform. The startup will use the new funds to expand its art industry operations further.

Similarly, Ucollex, a pop-art NFT marketplace, secured $10million in a fundraising round led by Animoca Brand.

About NFTY Labs

NFTY Labs is a foundation focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.

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NFTY Labs

NFTY Labs

Cross-Chain Infrastructure for NFT Utility and authentication.