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OpenSea struggles to keep its record but NFT projects have seen a rapid increase. The year 2021 was marked by significant milestones and outstanding accomplishments for OpenSea, with the marketplace surpassing $14 billion in transaction volume. OpenSea, the world’s leading NFT platform, didn’t take long to break its own monthly transaction volume record. Dune Analytics revealed in January 2022 that the OpenSea network reached the highest monthly transaction volume ever. According to the on-chain data platform, transaction volume in January 2022 was around $5 billion, while it reportedly topped $2 billion in December 2022. The precise amount is $4,795,721,595,90746. However, the last month turned out poorly for OpenSea. OpenSea Takes a Hit The market’s entire rate dropped by 40% from the previous month to nearly $3 billion. On the other hand, NFT projects are performing well on the platform, with unique users and transactions being on the rise. A number of NFT projects are pr...

Shibainfinity NFT project, a collection of 10000 NFT artistic designs inspired by shiba Inu. Shiba NFT is the new kid on the NFT block set. The NFT artistic designs are inspired by space and astronauts. With a set whose theme is centered around the dog metaverse sitting in outer space, shiba NFT public minting was launched on 23rd February 2022, interested participants can mint Shiba Nft from Shibainfinity official minting page . The project aims to have a fair and independently-run community-owned marketplace. DAO members will be able to decide what features the project should develop and even what shall be done with the fees earned by the NFT marketplace. Members will be able to vote on proposals submitted by other members in what founders of the Shibainfinity project anticipate will benefit the entire NFT space as a whole. Apart from the bragging rights that come from ownership, Shiba NFTs also serve as passports to the Shibainfinity community. The NFTs give owners exclusive acc...

Elrond has positioned itself as one of the dark horses in the DeFi industry. Moreover, the team is now exploring broader Web3 opportunities by introducing a new wave of incentives. Metabonding, the community accelerator, rewards builders, contributors, and long-term holders alike. Checking Off DeFi Milestones It has been an exciting year for Elrond, especially where decentralized finance is concerned. The Maiar exchange , a DEX AMM built by the Elrond Core team, continues to thrive as time progresses. Elrond can provide internet-scale DeFi solutions to a global audience, unlike other networks and blockchains. In addition, scalability has proven problematic for networks like Ethereum, creating opportunities for other projects to stake their claim. The Maiar exchange is has seen strong growth since its launch in November 2021. Its TVL has risen to $1.5 billion, and there are over 200,000 active users. Those numbers are significant for the broader ecosystem. Moreover, the user base c...

While it is true that the cryptocurrency industry has skyrocketed in terms of popularity and usage over the last decade, it is perhaps NFTs (non-fungible tokens) that we need to take a closer look at. These tokens are essentially non-interchangeable units of data which are stored via a blockchain, and can include videos, photos, and so on. In addition to a rapid increase in global interest for non-fungible tokens, the NFT trading volume had reached over $10 billion by the third quarter of last year. In fact, the global NFT market size could possibly even go over $350 million by 2030. With P2E NFT-based games like Axie Infinity and The Sandbox also becoming very popular, the long-term potential for this industry could indeed be limitless. It is important to note that while certain cryptocurrencies like Ethereum (ETH) play a role in the NFT sector, NFTs ultimately differ from cryptocurrencies. Still, individuals often need to get involved with NFT and crypto based platforms in ord...

Due to rigorous restrictions and high-level supervision from financial watchdogs, obtaining a listing on South Korean exchanges has become tedious and difficult. The local market appears to have come to a standstill in the face of such harsh regulatory restrictions. Due to their failure to achieve the minimum regulatory criteria, the majority of the country’s exchanges have thus experienced a blackout and continue to struggle even today. Having said that, the nation’s cryptocurrency community remains strong and optimistic that things will eventually improve. This could be the case following Clesson’s (LABEL’s parent company) acquisition of equity capital from a couple of significant investment firms that are quite influential in the South Korean market which led to LABEL Foundation receiving approval from one of the country’s major exchanges, Coinone , along with a listing position with KRW, the nation’s currency. Understanding LABEL In layman’s terms, LABEL is simply an NFT plat...

Cronos is one of the up-and-coming blockchain ecosystems in the decentralized finance space. The network represents over $2.4 billion in Total Value Locked (TVL) across 44 protocols. More importantly, some of these protocols bring innovative services, products, and ideas to the DeFi industry. VVS Finance (VVS) The VVS Finance protocol is the leading DeFi application on the Cronos chain today. Its Total Value locked has surpassed $1.4 billion, an increase of over 21% in the past month. The platform’s simple interface anyone can access and use to swap tokens and earn high yields makes the platform so appealing. Additionally, VVS Finance provides clear incentives for long-term value creation and strongly emphasizes security and governance. VVS Finance (VVS) Users of VVS Finance can instantly swap tokens at low fees and slippage. Moreover, they can provide liquidity to collect transaction fees and earn VVS rewards by leveraging their LP tokens. Additionally, users can stake VVS t...

Data from Newzoo reveals that Esports and the Play-to-Earn model will drive blockchain gaming industry to mass adoption this year. Earlier this year, world’s provider of games and esports analytics Newzoo released a report to provide insights and predictions into the gaming industry in 2022. Esports Teams To Adopt Blockchain According to Newzoo, the Play-to-Earn model will be the spotlight of the year, in the context of major industry players getting more involved in blockchain technology. To wit, “Publishers might use blockchain technology to facilitate more secure and legitimized player-to-player trading within a centralized game environment.” Play-to-Earn, or making money from games is not a novel concept, players have used online markets to buy and sell in-game items for ages. However, on the previous platform, hackers can still exploit security cracks to cheat the system, steal users’ in-game items and make a fortune. Blockchain and NFT technology provide developers wi...

WonderHero is a blockchain NFT (Non-fungible token) play to earn mobile game. The game is a MMORPG (Massively multiplayer online role playing game) for iOS and Android platforms where players can collect Heroes, enter RPG turn based combat and play to earn tokens in this post apocalyptic fantasy world. The storyline is captivating. In a post apocalyptic world, the human civilization has been forced to live in space. You are part of the first wave to return to this decimated planet Earth, where danger and adventure await. There are 17 heroes to choose from, each with a unique set of skills and strengths. Players need to assemble their teams based on their skill sets and playstyle to complete the missions successfully. A Great Team Behind WonderHero Created by Ethan Ng and “L”, WonderHero draws inspiration from classic Japanese RPGs like Final Fantasy and uses the classic anime art style found in many of those games. Every Hero in WonderHero possesses unique skills and propertie...

As the metaverse concept continues to gain traction and popularity all over the world, more and more projects are getting involved with this groundbreaking new digital innovation and technology. Many of the world’s top brands such as Nike and Samsung have already announced their intentions to enter the metaverse, and it would therefore only make sense to assume that even more companies, firms and organisations are going to become increasingly involved as time progresses. With that in mind, BixBCoin ( BIXB ) has announced that it shall be partaking in this new digital landscape too. On February 22nd, a tweet had gotten the BIXB community excited with the announcement of the launch of the BIXB Metaverse, known as “Metabix”. Are you ready to join us in the future of life in #Metabix ? #Metaverse pic.twitter.com/a5isF8cNKB — Bixbcoingroup (@bixbcoingroup) February 23, 2022 According to the tweet, ‘an exciting world is waiting for us out there in the metaverse, see you all in Me...

FTX.US is making a leap in the blockchain game industry. Earlier this week, US-based cryptocurrency exchange FTX announced its launch of a new blockchain gaming unit. The unit is currently in works and is expected to officially launch the coming months. FTX Gaming is Here The new unit, dubbed “FTX Gaming,” represents FTX’s aspiration of bridging the gaps between mainstream game publishers and everything that matters in the blockchain world. This includes the underlying technology, cryptocurrencies and non-fungible tokens (NFTs). From this perspective, FTX.US is working on creating its “NFT as a Service” product to stimulate blockchain engagement and NFT-integration among game studios. As part of the strategic plan, FTX.US will be the service provider that offers token issuance and in-game NFT support to game makers. In addition, FTX.US is also recruiting for the positions of software engineers with experience using the C# programming language and the Unity game engine. The ...

Virtual Lands have been all the rage in the past few months. The nascent metaverse concept has been turning heads and topping the charts of digital innovations in the crypto sector. Although the idea of an alternative digital reality that combines virtual reality, augmented reality, and extended reality where human beings will be able to work, play, and digitally live, has been in existence for over three decades, its popularity skyrocketed following Facebook’s move to become a metaverse company and rebrand to Meta. As a result, several investors are exploring investment opportunities in this fast-growing new landscape. As our lives become increasingly digital, the prospect of owning a piece of digital land no longer seems far-fetched. Decentraland , The Sandbox , and Earth2 are some popular virtual ecosystems that allow users to purchase digital lands. The GameFi and virtual world have grown dramatically, and are expected to have a significant impact on the global gaming market, ...

Bitrue , one of the fastest-growing cryptocurrency exchanges, has revealed the listing of ADA as a base currency on its trading platform from Thursday, February 24. A major milestone for Cardano This development is a major one for the exchange and continues its existing approach towards fostering and supporting the Cardano blockchain. Cardano is one of the biggest blockchains with a marketcap of $31.9 billion and growing. It is regarded highly within the blockchain industry for its highly scalable architecture and low transaction fees. This enables developers to build next-gen web 3.0 dApps (decentralized apps) that provide solutions to different sectors globally. Bitrue will be expanding its offering of Cardano with an initial listing of ADA base pairs with ten different cryptocurrencies. This includes ETH, XDC, SOL, LTC, ICP, SHIB, GALA, AVAX, MATIC, and MANA. Bitrue users will be able to leverage their ADA tokens to perform different trading features using the listed base pairs...

The beginning of 2022 turned out to be a difficult start for OpenSea. Following the most recent incident, the market has been plagued by a string of misfortunes. OpenSea is still entangled in a $1 million lawsuit involving a former Bored Ape Yacht owner who is suing the leading NFT marketplace for the loss of precious NFTs as a result of the recent attack. OpenSea Under Fire Timothy McKimmy, CEO of a Texas mining company, filed a complaint against OpenSea. It stated that the top NFT marketplace neglected system security by allowing hackers to exploit the system and steal user assets despite acknowledging the existing system problem. Timothy claimed that he inadvertently sold his Bored Ape NFT for only 0.01 ETH, which equated to $26 at the time of sale. The owner claimed that Bored Ape #3475 belonged to his assets. The NFT was one of the NFTs stolen in the most recent attack, and it was sold to another bidder for 99 ETH shortly after the malicious conduct. Timothy’s case was f...

The global cryptocurrency market doesn’t seem to be slowing down any time soon, predicted to reach a CAGR (Continual Annual Growth Rate) of 30.32% in 2030 . This eclipses the CAGR rate of many other huge industries, demonstrating the economic power that’s moving behind this form of digital asset. Yet, while many people look at the technology behind the blockchain as the driving force for cryptocurrency’s success, it could be argued that it lies elsewhere. While technology can change, expand, and develop, one thing has remained stable the entire time cryptocurrency has been gaining popularity – community Behind every leading cryptocurrency is an avid community that discusses, shares news, and invests in the currencies. While other asset classes have certain fans – think about $TSLA and the rampant community that follows its creator, Elon Musk – none has the social market that follows cryptocurrency. In this article, we’ll be taking a look at three distinct formats that have allowed ...

Despite many efforts from the blockchain to optimize the price, the gas fees on Ethereum has been a real pain in the butt for a long time. The NFT trend was one of numerous causes that increased the gas fee in 2021. In August 2021, NFTs saw a recovery, increasing transaction fees to the highest level in three months, forcing Ethereum users to look for new alternatives. Other activities, such as token exchanges or complex smart contract operations, are actually more expensive. A Uniswap token swap can cost up to $30, according to Etherscan’s gas tracker. However, the tables have been turned. The gas fee for Ethereum is falling. According to Decrypt, the average transaction fee on Ethereum lowers dramatically with sub-$10 moves. Gas Fee On Decline The average transaction charge is currently at an all-time low. The price is not particularly low, but for those who have been full-time DeFi investors, this is a very encouraging sign. What has brought us to this point? NFTs, accordin...

NFTs are still the topic of conversation at the start of 2022. The new technology is growing more popular than ever, and a large number of investors are flocking to the space. The ambition to be early adopters and earn significant rewards drives major businesses to spend millions of dollars without hesitation to achieve their aims. However, like with crypto and other blockchain-based products, the landscape quickly invites scammers on a small to large scale, and there has been a significant spike in fraudulent operations involving non-fungible tokens. More Attention to NFT Transactions Authorities have taken steps to prevent potential scams and protect users from cyber-malicious activity. Meanwhile, NFT marketplaces and online financial firms are taking a more cautious approach. PayPal recently made its first move. The world’s largest international online payment company has officially changed its seller protection program to restrict NFT transactions worth more than $10,000. ...

Copyright infringement, wash trading and other minor to major issues have put NFTs in a gray-zone. Continuous legal problems may potentially cause a number of unfavorable effects on the growth of NFTs as well as their future . Previously, the US-based NFT marketplace Cent officially suspended all transactions of blockchain-backed digital arts on its platform in an effort to control the recent increase of fraud across multiple NFT platforms. As reported, scams and fraud recently became a common occurrence on Cent platform including activities such as fake NFT shops, phony NFT stores, fraudulent NFTs, scam airdrops and NFT offers, and social media rip-offs. The Wild West for Copyright Cent has witnessed over 150,000 users trading and making transactions as the space continues to grow. The platform is known for the auction of the very first tweet of Twitter CEO Jack Dorsey. The NFT was amongst the early tokens making history after the sale point hit $2,9 million at the time. Cent ha...