New Era of NFTs with RARI Chain Royalty Payments

Last updated: January 26, 2024 7:06 am EST | 3 minutes reading

In the last 24 hours, non-fungible tokens (NFT) the market remained largely unchanged, with the exception of NFT news about Pudgy Penguins, RARI network and Magic Eden.

Sales volume increased by 3.5%, currently at $31,574,164.

Buyers, sellers and transactions fell by about 1% each, per CryptoSlam.

Among the top 10 blockchains by NFT sales volume, one notable change is that Bitcoin surpassed Solana again in contention for second place. It is now significantly ahead of Solana: $7.99 million compared to $6.45 million.

When it comes to the top 10 collections, the biggest winner by far on the final day is Bored Monkey Yacht Club. It rose almost 300% to $794,844, compared to the next highest earner, Ordinalswith an increase of 11.5%. Froganas also rose 11%.

In terms of ranking by sales volume, Ordinals take first place with US$1.34 million.

In today’s NFT news, read about Pudgy Penguins reaching notable milestones, the newly launched RARI Chain mainnet ushering in the new era for NFTs, and Magic Eden releasing updates on its rewards program.

Pudgy Penguins Reaches 50,000 Account Milestone, Over 750,000 Toys Sold

O Chubby Penguin The team took to Twitter today to share several notable developments the collection has witnessed.

They stated that more than 55,000 accounts were created on chubby world.

Meanwhile, in April 2022, the team licensed Pudgy Penguins and his younger siblings Lil Pudgys of supports for Pudgy Toys. They have enjoyed significant success since then.

Licensed Penguins have been featured in major retailers around the world. They sold over 750,000 toys in 7 months. These include ToysRUs, Hot topic, Wal-MartIt is Macy’s.

“In 2023, these penguins powered Web3; selling over 750,000 toys and reaching millions of people,” the team said.

The Pudgy Penguins and Lil Pudgys toy line has already “visited” nine countries. These include the US, Canada, UK, Ireland, Spain, Australia, Thailand, Malaysia and Singapore.

The team argued that the toy line didn’t just benefit the Pudgy Penguins brand. It also “shed a positive light on Web3.”

In terms of sales volume, Pudgy Penguins rose 130% in 24 hours to US$597,812, ranking 11th.

Last week, the collection was in 12th place. It fell 63% to US$3.2 million.

New Era of NFTs with Rari: Royalty Payments Embedded in Every Transaction

The RARI Foundation launched the main network in RARI Chainone Ethereum Layer 3 (L3) Blockchain Activated Arbitrationwith the aim of starting a new NFT era.

The announcement he said that, “with lightning-fast transactions and near-zero gas fees, we are focused on building a path for new NFT use cases on a secure L3 powered by Arbitrum.”

The RARI Chain aims to solve scalability issues in the NFT space. Additionally, it incorporates node-level royalty payments and the system automatically distributes royalties at the time of sale.

The website added that “this marks the beginning of a new NFT era, empowering creators to take control of their livelihoods and secure legitimate royalties for their creative endeavors.”

Additionally, the team said there will be “near-zero gas fees.”

Since Testnet launched in November, the team saw 46 thousand wallets and 251 thousand transactions.

There is also the RARI DAOallowing anyone to participate in chain governance.

Meanwhile, the first ten artists have already collaborated with RARI for a series of open edition collection launches.

Magic Eden sees increase since Rewards launch

On Tuesday, the NFT market Magical Eden released its new rewards program for collectors and creators, topping the NFT news rounds.

In a single day, the platform said, “listings near the floor quadrupled.”

Additionally, there was a 250% increase in pools on the market, and almost 60% of new Solana NFT wallets were also in it.

Finally, Magic Eden was home to nearly 50% of the top 10 NFT collection listings.

Meanwhile, the retroactive drop promised to Solana OGs will begin next Friday. It will reward past activities dating back to 2021.

Magic Eden CEO Jack Lu commented that this is to show appreciation for the community’s support over the past three years.

The platform also shared a guide on how to earn diamonds.

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