NFTs
ImmutableX NFTs attract record numbers of buyers and sellers driven by new NFT game
Last week, the number of buyers and sellers of ImmutableX NFTs reached a record high, driven by the Guardians Guild, an NFT collection tied to a new blockchain game.
According to Cryptoslamdaily unique sellers surpassed 400 on May 10, while daily buyers reached 353 on May 8, both setting new records.
Activity on ImmutableX has been predominantly driven by Guild of Guardians (GOG) NFTs, the most popular collection on the gaming-focused chain. The GOG Collection secured over $11 million in NFT sales last month, an increase of around 80% month-on-month.
During the last seven days alone, the collection generated over $3.4 million in NFT sales, ranking #6 on Cryptoslam. DappRadar data indicates a trading volume of US$3.9 million in the same period, which puts it in 12th place.
GOG is a fantasy role-playing game with play-to-earn (P2E) elements.
Daily sales of GOG NFTs have been hovering above the $500,000 mark since May 10.
It is currently the most popular NFT collection on ImmutableX, a layer-2 Ethereum chain that uses zero-knowledge proof (ZK) technology to achieve scalability and transaction efficiency.
ImmutableX is the fifth largest blockchain by NFT trading volume, generating over $7 million in NFT sales last week, a 13.3% increase. For comparison, NFT trading volume on Polygon surpassed $10 million during the same period, an increase of more than 20%. Bitcoin maintains its leadership position with its Ordinals and the recently launched Rune Protocol. Over $46 million in NFT trading volume was recorded, a 14% drop over the past week.
Interestingly, Polygon and ImmutableX are the only blockchain networks in the top 10 that have experienced an increase in NFT trading volume during the last 7 days.
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NFTs
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NFTs
PayPal ends NFT purchase protections
PayPal has announced a policy update that will remove non-fungible tokens (NFTs) from its Purchase Protection and Seller Protection Programs starting May 20, 2024.
The change, which was first noticed on the company’s website, website on March 21, will affect all NFT transactions, leaving participants without safeguards against fraud and chargebacks.
PayPal has previously explored direct sales and hosting of NFTs on its platform, even filing an NFT-related patent in 2022.
PayPal’s updated protection policies are the latest development in the company’s involvement in the digital asset market.
Despite the crisis, PayPal has not completely withdrawn from the cryptocurrency sector; in 2023, it launched PYUSD, a stablecoin pegged to the US dollar.
The payment company’s stablecoin peaked in late February with over $300 million in market cap, but has since fallen back to $200 million.
NFTs
South Korean Regulator Excludes Certain NFTs from Crypto Regulations – Regulation Bitcoin News
https://news.google.com/./articles/CBMiXmh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9zb3V0aC1rb3JlYW4tcmVndWxhdG9yLWV4Y2x1ZGVzLWNlcnRhaW4tbmZ0cy1mcm9tLWNyeXB0by1yZWd1bGF 0a W9ucy_SAQA?hl=en-US&gl=US&ceid=US%3Aen
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NFTs
Non-Fungible Items; Picking Up Where NFTs Left Off — COZ Co-Founder Tyler Adams – Op-Ed Bitcoin News
https://news.google.com/./articles/CBMiZmh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9ub24tZnVuZ2libGUtaXRlbXMtcGlja2luZy11cC13aGVyZS1uZnRzLWxlZnQtb2ZmLWNvei1jby1mb3VuZGVy LXR5b GVyLWFkYW1zL9IBAA?hl=en-US&gl=US&ceid=US%3Aen
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