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NFT Journal: Chapter 31

It is with great delight that we welcome you to the NFT Journal’s thirty-first edition.

Ukraine Continues to Gain NFT Support 🇺🇦

Since Russia’s invasion, the cryptocurrency and NFT communities have been of immense assistance, generating considerable relief donations for Ukraine’s victims.

Mykhailo Fedorov, Ukraine’s minister for digital transformation, recently announced Ukraine’s new plan to launch an NFT collection to gather more funds for its ongoing battle with Russia.

Similarly, Cindy Ong, a Malaysian World Swimming Champion, intends to release a collection of NFTs to generate funds for Ukrainians in need. The digital collection will contain 999 exclusive pictures of her.

Other prominent NFT platforms, including Time Magazine, RELI3F, and Ikonia, have all shown their support via various NFT initiatives.

Scoring Big with NFTs ⚽

Sandbox, a popular play-to-earn game platform, has surpassed two million players in its Metaverse. The growth in user numbers results from recent Sandbox efforts to increase customer satisfaction with its unique services.

In addition, Wingstop, a fast-food firm, opened a restaurant in the Metaverse, allowing users to download virtual products such as food and drinks. Users will also earn coupons and reward cards redeemable for meals in real and virtual worlds.

Also, get ready to have your favorite NFT collectibles hit your screen. NFTs have previously been used to finance film productions via various NFT-funded filmmaking start-ups like NFT Studios, HollywoodDAO, etc. Following that success, plans are in place to introduce more produced movies based on popular NFT characters and projects such as CryptoPunk, Meebits, and World of Women.

In other news, a 52-year-old man, Marco de Leon, turned himself into an NFT. He revealed that he quit his job to create these 11,111 NFT selfies in ten days, titling them “Me Human not Ape” to mock the well-known Bored Ape Yacht Club in the NFTs industry.

Market Roundup 🚀

Luxury Rug, which sold for $5.31 million, was the most expensive NFT sold last week. Ether Rock ID 99 came in second, sold for $839.02k. Ringers #376 and MusicHub, the third and fourth, respectively, sold for $801.33k and $709.92k. Metavex Land, which sold for $649.29K, is the last on the ranking list.

Terraforms by Mathcastle, as usual, is the top NFT collection on the top 5 ranking list, bringing in $216.22 million. More Loot came in second with a revenue of $100.73 million. With $80.45 million and $55.87 million, Dotdotdots and Invisible Friends ranked third and fourth, respectively. Meebits, with $54.65 million, is at the bottom of the list.

Opensea has once again retained the top spot on the NFT marketplace ranking list, with a sales volume of $604.95 million. LooksRare came in second, with $469.94 million. BloctoBay and CryptoPunks are third and fourth, respectively, with $33.79 million and $16.98 million. Axie Infinity is at the bottom of the top 5 list, with a sales volume of $13.78 million.

On the investment front, Rarify, an NFT start-up, has secured a $10 million fundraising round led by Pantera Capital. This money will go toward Rarify’s primary goal to make it easier for users to trade NFTs.

Lastly, DNABLOCK scored $7 million in funding from Sfermion, Solana Ventures, Non-fungible Labs, and Animoca Brands. The new investment will help enhance the development of exciting products to empower Web3.0 creators.

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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Cross-Chain Infrastructure for NFT Utility and authentication.