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Elon Musk slams NFTs on the Joe Rogan podcast only to unintentionally make the case for Bitcoin Ordinals. In this week’s newsletter, we dive into the dynamic world of nonfungible tokens (NFTs) and their impact on the digital landscape, as NFT sales have skyrocketed to an impressive $129 million in November, according to data from Nansen. Despite the surge in sales , OpenSea has laid off a substantial amount of staff as it prepares to launch version 2.0 of its platform, and Elon Musk unintentionally made a case for Bitcoin Ordinals. Meanwhile, an OpenSea investor has taken a 90% markdown on their stake in the platform, and don’t forget this week’s Nifty News featuring The Simpsons roasting NFTs. NFT sales volume jumps to $129 million in November — Nansen data NFTs have seen a large increase in weekly sales volume, with sales reaching 29,704 Ether (ETH), worth approximately $56 million, and later surging to 68,342 ETH (over $129 million) in a matter of weeks. NFT marketplace Blur had...

NFT aggregator Rarible said by October it would cut off aggregate orders from competitors that don’t enforce royalties, such as OpenSea. Nonfungible token (NFT) marketplace Rarible has seen a substantial uptick in trading volume over 24 hours following a public statement in support of maintaining NFT creator royalties. It comes as competitor NFT marketplace s such as OpenSea have rewound support for royalties and royalty enforcement — prompting other NFT projects to also begin rewinding support for OpenSea. Data from the analytics platform DappRadar shows that 24-hour fiat trading volume on Rarible reached $1,500 across 38 sales for Aug. 23, clocking a 653% increase from the day before. 1/ Following @rarible's decision to maintain creator royalties , and remove both @opensea and @blur_io from their aggregation data, Rarible's trading volume is up 637% in the past 24h. Do you think Rarible is right? View @rarible on DappRadar https://t.co/9hh0AQa7Nj pic.twitter.com/cg1dPChYar ...

Several iconic NFTs, once heralded as groundbreaking investments, have taken significant hits in their values. Let’s delve into the detailed stories of these NFTs, exploring what they are, why they declined in value, and what these cases signify for the NFT market. In the swirling world of NFTs, the digital representations of unique assets, values can ascend to astronomical heights and plummet to surprising lows. This exploration dives into this complex and fascinating arena, examining the highs and lows, the triumphs and pitfalls, and the lessons learned from the ever-evolving landscape of digital collectibles. You might also like: Ethscriptions vs Ordinals: a deep dive into the new web3 phenomena Jack Dorsey’s first tweet In 2021, Twitter founder Jack Dorsey took an unusual step that captured global attention: He converted his very first tweet into an NFT and sold it for a staggering $2.9 million .  The tweet, a simple statement reading “just setting up my t...

Over the past 30 days, NFT sales volume on prominent blockchain s like Ethereum, BNB Chain, and Flow has declined by 14%-41%. However, on other chains like Solana , Polygon , Cardano , and Arbitrum, the numbers have risen in the 11% to 64% bracket. That said, it should be noted that the rise in sales has not corresponded with a rise in the number of buyers and transactions in all cases. Thus, it can be said that even the NFT market is moving in tandem with the crypto market, as indecisiveness continues to prevail. Source: CryptoSlam Moreover, the bigger picture seems to be even bleaker. A recent tweet from the Director of Research at “PROOF” brought to light that the banking crisis likely instigated a “structural shift” within the NFT arena. In fact, according to Sam, aka NFTStatistics, “Since the SVB saga, unique NFT buyers per day have been about 25% lower than they were before. Feels a bit like a structural shift happened then.” Reasoning out why, the research execu...

Professionals working in the Web3 space shared various ways and tools that can help users prevent NFT theft. In this week’s newsletter, read about how Moonbirds founder Kevin Rose lost nonfungible tokens (NFTs) worth more than $1.1 million. Find out why an NFT collector is suing NFT marketplace OpenSea over locking his account for three months and how the Porsche NFT collection gained almost $5 million in sales volume , despite a failed launch. In other news, find out how NFT trademarks could potentially be a reliable signal for NFT traders. Lastly, professionals within the Web3 space shared various ways to combat NFT theft.  Moonbirds creator Kevin Rose loses $1.1M+ in NFTs after one wrong move Moonbirds co-founder Kevin Rose lost over $1.1 million in NFTs after falling victim to a phishing scam. According to various analysts, Rose approved a malicious signature that let the attacker transfer tokens from his wallet. An on-chain analyst named “Quit” on Twitter said that the malicious...