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NFT News May 27, 2022

Meebits Are a Different NFT Collection That Might Be For You

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Meebits are a Voxel avatar project from the famous creator behind other projects of the sort. In fact, they are the third in a line of NFT projects which were created by Larva Labs. This company has established itself as a popular and significant project in the overall NFT market. Less than 8 hours after the launch in May of 2022, 9,000 Meebits sold for approximately 22,500 ETH. This was a significant step in the right direction for this project.

 

Cool!

Meebits are, as you may have guessed, algorithmically generated Voxel 3D characters connected to NFTs on the Ethereum blockchain. The avatars are rendered in voxels, like 3D instantiated pixels that look a lot like the art style we’ve seen in Roblox and Fortnite. Owners are able to use these NFT characters as metaverse avatars as well, and they can even use them in games that are compatible.

“Larva Labs released the Meebits NFT project on May 4, 2021. Since then, these NFTs have been selling like hotcakes, cementing their place as a major NFT collection.”

 

 

 

From the Website

“Meebits are a collection of 20,000 unique 3D voxel characters built on the Ethereum blockchain. Each of the 20,000 were created via a custom generative algorithm. Larva Labs are the creators behind these boxed-3D NFTs, famous for their creation of CryptoPunks.” -OpenSea

 

 

 

 

MetaNews is your number one resource for information on the Metaverse and the markets. We deliver the relevant news, every day. Don’t forget to check us out on Twitter! @metanews_com. Our staff of expert researchers and copywriters are dedicated to bringing you the latest, most relevant information from all over the Metaverse and its affiliated properties. From commerce and finance, to technology and interconnectivity, MetaNews produces well researched, accurately sourced articles on a daily basis.

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading. He started writing about the Metaverse, as he thinks its the future of everything AI related.

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NFT News

Volume of NFTs is Down Nearly 100% From Beginning of Year

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It should come as no surprise that the volume of NFTs has plummeted since the beginning of the year. But what you may not know is just how bad it really is, or how bad it may yet become if things don’t turn around soon. Certainly, and we’ve written before about this, there are bright spots that suggest the valuations will turn around. However, we aren’t entirely convinced that things are going to turn around anytime soon. In this article, we will be taking a closer look at the recent assessments of the market offered by some of the sources we have.

 

The Scoop

Ironically, in spite of the monumental and historical decline in the valuations of NFT this year, the production and creation of new NFT projects hasn’t slowed down in proportion to the decline. This isn’t exactly a surprise considering the draw NFTs have in the overall market of entrepreneurs. What we mean is that many investors are trying to “buy the short” as it were.

They are trying to produce more NFTs that may grant them a lot of profits once, and IF, things turn around for the market. For example, as many as 15 new collections A DAY are being added to OpenSea and other platforms, and this marks a stabilizing trend in a market that is seeing an incredible decline.

 

The News Take

“Through the uptrends and downtrends, OpenSea has maintained its lead when it comes to NFT trading. It has made its mark as the first major NFT trading platform in the space and as such remains highly favored among investors. The addition of other networks such as the Solana network has also helped grow its popularity in the market. This does not mean that the marketplace is without competition though.” -Bitcoinist

 

MetaNews is your number one resource for information on the Metaverse and the markets. We deliver the relevant news, every day. Don’t forget to check us out on Twitter! @metanews_com. Our staff of expert researchers and copywriters are dedicated to bringing you the latest, most relevant information from all over the Metaverse and its affiliated properties. From commerce and finance, to technology and interconnectivity, MetaNews produces well researched, accurately sourced articles on a daily basis.

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NFT News

Certain NFTs Are Lifting The Gloom Despite the “Winter”

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Lately, there has been a not-so-subtle downturn in the profitability of NFTs and crypto-currencies, and everyone is watching. However, there is some good news circulating around the subject. If fact, NFTs, or a certain type in any case, are seeing a turn around. Specifically, a type of NFT called generative NFTs seem to be braced from the worst of the frost that has bitten the entire market. In this article, we will be describing the nature of the generative NFTs and how they have actually braced themselves against the downturn.

 

The Scoop

The sales of “generative art” have skyrocketed over the past few weeks, and several prominent collections have seen an even larger break than they enjoyed previously. An important factor in the recent uptick in sales for some of these collections was William Mapan’s Anticyclone, which minted initially at 0.75 ETH when it was revealed on the Art Blocks platform on Apr. 29.

The rock bottom price for one of the 800 generative art piece NFTs steadily rose through the month of June, and the lowest artifacts are now priced at 5.4 ETH on the secondary market. In terms of the dollars, the floor price has risen from around $2,100 to $5,800.

 

The News Take

“Anticyclone lives on the Ethereum blockchain, but like many other generative artists, Mapan got his start in the NFT space on Tezos. Following the rise in popularity of Anticyclone, Mapan’s Dragons collection saw a parabolic price rise on fxhash, Tezos’ equivalent to Art Blocks. The cheapest Dragons are currently priced at around 1,700 XTZ after trading under 100 XTZ at the start of the year.” -Crypto Briefing

 

MetaNews is your number one resource for information on the Metaverse and the markets. We deliver the relevant news, every day. Don’t forget to check us out on Twitter! @metanews_com. Our staff of expert researchers and copywriters are dedicated to bringing you the latest, most relevant information from all over the Metaverse and its affiliated properties. From commerce and finance, to technology and interconnectivity, MetaNews produces well researched, accurately sourced articles on a daily basis.

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NFT News

NFTs Are Being Scrutinized by Euro Union Lawmakers Today

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NFT trading platforms are, and always have been, under a high degree of scrutiny, but today they even more criticism under new EU legislation. Members of the European Parliament issued a litany of new pieces of law that may place NFT platforms in jeopardy this weekend. Politicians and legislators belonging to the Green Party as well as the new socialist representatives are in high spirits concerning the state of crypto wallets and NFT markets, mostly because they see these new legislative acts as a win for the restrictive policy makers.

 

The Scoop

The Green Party and their representatives Ernest Urtasun and Kira Marie Peter-Hansen, have proposed an amendment to certain policies concerning crypto and NFTs. Additionally, socialists Aurore Lalucq and Csaba Molnár are interested in making NFT platforms  “obliged entities” under EU money laundering law, according to the document dated June 22.

What this means for big companies like OpenSea and Crypto.com is that they might have to balance and reexamine the risk of illicit financial instruments for which they provide a platform.

 

The News Take

Today we put order in the Wild West of crypto assets and set clear rules for a harmonized market. The recent fall in the value of digital currencies shows us how highly risky and speculative they are and that it is fundamental to act. -Stephen Berger

 

MetaNews is your number one resource for information on the Metaverse and the markets. We deliver the relevant news, every day. Don’t forget to check us out on Twitter! @metanews_com. Our staff of expert researchers and copywriters are dedicated to bringing you the latest, most relevant information from all over the Metaverse and its affiliated properties. From commerce and finance, to technology and interconnectivity, MetaNews produces well researched, accurately sourced articles on a daily basis.

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