NFT News June 22, 2022
The Bear Market Won’t Stop These NFTs from Rising
The reputable and always reliable company DappRadar has recently written that the NFT sector is posting up in resistance to the classically accepted crypto winter period that began last month. Popular blue-chip collections like CryptoPunks, Meebits and RTFKT, and CloneX Mintvial are seemingly invincibly defying the drop in pricing and we can see substantial floor price gains of up to 50%, but at least 40% this past week. The data is available to the public in the newly minted Flash Dapp Report for June 2022, which was published right after the freefall of all crypto and NFTs started last quarter.
The News
The report discloses reporting that seems to indicate that NFTs will be making a significant come back. NFTs represent great value to certain investors because of their capacity to hold wealth in a kind of static state based on the value of the community. Indeed, cryptocurrencies have been in a state of decline since late last year, but blue-chip NFTs have become a cultural zeitgeist, increasing numbers of buyers have helped the value of their utility as assets, pint passes, and more.
For example, CryptoPunks clocked almost 100 trades during the weekend, after struggling to achieve 15 trades the week before.
The Scoop
Because the trading metrics have increased over the past few days, according to this Dapp report, the USD floor price of a few exceptionally popular and valuable NFT collections has increased substantially. Certain projects such as BAYC, RTFKT – CloneX Mintvial, CryptoPunks, Meebits, Doodles, and several others, have all enjoyed an increase to their floor prices up to 20% over the past few weeks.
According to Google Trends reports to support this data, NFTs are now more popular overall compared with the crypto market. Cryptocurrencies are continuing to crash with no end in sight, and we won’t know the full extent of this market reversal until the end of the year, likely as not.
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.
The famous British luxury car designer Bentley Motors Limited is finally doing what we all hoped they would do all along. They will be designing something for the future Web3 ecosystem. This is going to take the form of the launch of a non-fungible token (NFT) collection, which will be on the Ethereum scaling platform Polygon, the company announced today. According to a recent announcement, the new NFT collection is slated to hit the markets in September 2022 and will feature a collection of a total of 208 pieces.
The News
Bentley Design is going to be in charge of making the NFT collection. Investors and purchasers that obtain the NFTs will receive special access and rewards from Bentley Motors. The car manufacturer did not release the NFTs’ price tag as yet.
Additionally, Bentley Motors has told sources that they plan to contribute the proceeds of the sale of all the NFTs to supporting students interested in engineering, design, and manufacturing. Additionally, the company plans to use the funds to support organizations that push for sustainability, especially in the transportation industry.
The Scoop
“The car manufacturer chose to drop its NFT collection on Polygon because the network is carbon neutral. Per the announcement, the Bentley NFTs will be eco-friendly, helping the company build on its commitment to achieving end-to-end carbon neutrality by 2030.” -Bentley
This collection will eventually set a precedent that all car companies and will hopefully result in more than a few collections getting fast-tracked.
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.
Cryptoys, the internet start-up, is getting a boost in funding to achieve its goal. That goal is, in short, building a blockchain-based toy infrastructure that will get younger users used to the ideas of digital ownership and complex NFT mechanics. They have just finished raising $23 million which was headed up by Mattel, Dapper Labs, Draper & Associates, Acrew Capital, CoinFund, Animoca Brands and Sound Ventures. Cryptoys recently announced a $7.5 million seed round as well, and in this article we will examine the plan.
The News
Why should kids care about their in-app purchases being blockchain-ordained? This is a question put forward by the company as it finishes the round of funding. Weinraub, the CEO, says that “kids bouncing from platform to platform means a lot of digital asset value being lost, and he thinks his own children would be interested in reselling in-game items they’ve bought and grown tired of to fund new digital purchases.” Weinraub has stated that he believes that the occurrences of parents spending large amounts of money on cartoon animal NFTs means that they can get closer to their kids this way, and they want to continue that trend by enhancing the parental voice in the markets.
The Scoop
“For those parents that have gotten involved in the NFT space in the past several months, it’s fair to say that many investments haven’t turned out as profitable as anticipated even as many of the companies involved have seen big paydays.” -Tech Crunch
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.
Despite the fact that crypto has been on a steady decline in valuations over the past few months, NFTs are on the up in a big way. “Enthusiasts” as they are referred to, have decided to put together a gathering that will take place in New York…in Times Square, in fact. The huge crash wasn’t necessarily foreseen, but some speculated on the potential some number of months ago, and this speculation nudged some people in the direction of NFTs. The relative boon that non-fungibles have seen in comparison is staggering, and many investors have made a substantial investment in them.
The News
The conference will take place in a local hotel event space, and will feature several events and booths for the vendors and artists . Several of the attendees will spend the evening trying to convince the investors in attendance that their newest NFT pitch is worth investing in, but that won’t bring down the mood. It isn’t merely a sales event, either, it is a chance for NFT enthusiasts and investors to get ahead of the crash, perhaps in the midst of it, and find a new approach to the industry.
The Scoop
Not everybody’s going to make it. Not everybody’s going to be able to get to the promised land, which might be longer than we all hope and we all expect. Everyone knew that the winter was coming,” she said. “It came a little faster than some people estimated, but no one went into 2022 thinking that there wouldn’t be a period of change. There’re very few institutional museums out there that are immediately responsive to trends. That’s just not what a museum generally is about.”
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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