NFTs
Cardano NFTs and increased corporate interest
Last updated: January 22, 2024 08:01 EST | 3 minutes reading
Non-fungible tokens (NFTs) sales volume is like the weather – it changes daily, several times a day. Unlike weather, though, NFT news predictions are a little more difficult, so we can never be sure what to expect.
After several days of declines, 24-hour sales volume today increased by 4.55% to US$36,306,092, according to for CryptoSlam.
Buyers and sellers are down 9% and 5% respectively at the time of writing. Transactions fell 10% to 324,142.
The best performers among the top 10 collections by sales volume are Froganas (+120%) and chubby penguins (+96%).
Coming to the daily NFT news roundup in the red, we have CryptoPunks (-22%) and Gas Hero Common Heroes (%21.7%).
Today in NFT news, read about Cardano making the top 10 blockchain list by NFT sales volume, Ethereum recording the highest volume since last June, and NFTs attracting corporate America.
Cardano NFT trading volume reaches top 10
Cardano he has came in top blockchains by NFT trading volume.
That said, it – like most blockchains in the last 24 hours – is mostly in red. Sales fell 19% to $117,127, while buyers rose 13%.
When it comes to sales volume in the top 10, the only green chains (and the winners of the day) are Flow, SolanaIt is Ethereumrespectively.
Zooming out to look at the 7-day situation, Cardano NFTs place the network in 11th place, outside the coveted top 10. Its volume is down 25% to $1,202,929. Buyers increased by 37%.
Among the top 10 in this period, Solana has the best performance, with a volume increase of 43%. It is followed by Ethereum’s 23% and Arbitration 6%.
All other chains are in the red.
Ethereum records highest volume since June
On Thursday, January 18, the trading volume of the Ethereum The NFT market reached US$42.7 million. This was the first time this number exceeded US$40 million since the end of June last year.
The news was the first Published by journalist Colin Wu.
Since the beginning of this year, the second largest daily volume was $32.52 million as seen on January 12th.
Since Thursday, however, trading volume has decreased again, albeit to slightly higher levels than in previous weeks and at the same level as those recorded at the beginning of December last year.
Friday registered US$29.6 million, Saturday US$28.2 million and Sunday US$25.6 million.
Weekly volume also reached levels seen for the first time since June 2023.
As recorded on January 15, weekly volume was just under $204 million. A week earlier, it was $168.9 million.
Meanwhile, the end of June last year saw $216.6 million in weekly trading volume.
In the last two years, the highest point reached was 1.4 billion in April 2022.
As for markets, Blur took the biggest slice of the pie, with 76%. Open sea follows him with 16.4%. So come CryptoPunks, X2Y2It is It seems rare.
NFTs are attracting companies from America
After the drop in NFT markets compared to two years ago, profits are far away, but Corporate America is still finding useful ways to utilize NFTs, according to for Forbes.
According to the report,
“Now that the market has crashed, a much less ambitious version of NFTs is finding a welcome home in the marketing departments of corporate America.”
Circulating in NFT news, companies like MasterCard, Coke, StarbucksIt is Lufthansa everyone found ways to employ these tokens. And sneaker companies “could represent the perfect marriage of NFT technology and brand marketing,” Forbes wrote.
Companies that have decided to launch their own collections include Nike, AdidasIt is Puma.
Nike’s Dunk Genesis collection “was a huge success,” according to NFT studio co-founder Steven Vasilev RTFKTacquired by Nike in December 2021. “Even though the market is still down, our products still bring in new people. […] Where Nike serves athletes, we serve creators.”
Many of these charges are used through a loyalty program, so trading is discouraged. Consequently, this will not contribute to volume in NFT markets.
However, Paul Brody, a global blockchain consulting firm leader Ernst & YoungHe argued that,
“It could end up being great publicity. Your blockchain wallet will become a bit like your public trophy case.”
He added that “we are heading towards a future that will increasingly see NFTs as public souvenirs and trophies rather than transferable financial assets.”