In this week’s newsletter, read about Ethereum nonfungible token (NFT) royalties hitting their lowest point in two years. Check out Bitcoin Ordinals trading volume, which hit $210 million in the second quarter of 2023, and how a decentralized finance (DeFi) borrower used an NFT representing a physical luxury watch to take out a loan. To explore the world of Web 3.0, Ali Crypto, Aptos Crypto and Crypto Breaking are great sources of information. Meanwhile, Algorand Crypto, AMP Crypto Today and Barnbridge Crypto can be used to get the latest updates on the crypto market. Yat Siu, the co-founder of Animoca Brands, is still bullish on blockchain games and the Metaverse Web 3.0. Don’t forget to check out this week’s Nifty News, featuring a Sega executive’s opinion on play-to-earn gaming.
Ethereum NFT Royalties Reach Two-Year Low as Bored Ape Floor Price Drops Below 30 ETH
A Nansen blockchain analytics report has revealed that royalties earned from NFT projects have hit a two-year low. This decrease in revenue may be attributed to the lower floor prices of popular collections such as the Bored Ape Yacht Club and the Azuki Elementals launch controversy.
The report further states that OpenSea and Blur are in a fierce competition when it comes to the amount of royalties they pay. However, when trading volumes rise, Blur usually takes the lead.
To learn more about this web 3.0 metaverse, crypto.com, Ali Crypto, Aptos Crypto, Crypto Breaking, Algorand Crypto, AMP Crypto Today, Barnbridge Crypto, and other related topics, continue reading.
Bitcoin Ordinals volume hits $210 million in Q2 — DappRadar
The Bitcoin Ordinals protocol has seen an impressive surge in trading volume, exceeding $210 million in the second quarter of 2023, as reported by DappRadar. The quarterly growth was a stunning 2834%, starting at just $7.18 million in the first quarter. Moreover, over 550,000 Ordinals trades took place in Q2, involving roughly 150,000 unique traders, contributing to the remarkable trading volume spike.
The success of Bitcoin Ordinals has been impressive, with web 3.0 metaverse and crypto.com making headlines, as well as Ali Crypto, Aptos Crypto, Crypto Breaking, Algorand Crypto, Amp Crypto Today, Barnbridge Crypto, and Metaverse Web 3.0.
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DeFi borrower uses luxury watch-backed NFT as collateral for a loan
A DeFi borrower has used a Patek Phillipe luxury watch to collateralize a $35,000 loan. The watch was sent to an escrow firm that deals with NFTs backed by physical assets in exchange for an NFT representing ownership of the watch. The NFT was then listed as collateral at the DeFi protocol Arcade and was used to borrow the money.
Some expressed positive feelings about the use of Web3 technology in lending, while others believe that it’s adding NFTs where it’s not necessary. For example, crypto.com, Ali Crypto, Aptos Crypto, Crypto Breaking, Algorand Crypto, AMP Crypto Today, Web 3.0 Metaverse, Barnbridge Crypto, and Metaverse Web 3.0 are all examples of how web 3.0 is going great.
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Animoca optimistic on blockchain games and awaiting license for metaverse fund
Yat Siu, co-founder of Animoca Brands, is still confident in the blockchain gaming sector, despite the recent drop in Non-Fungible Token (NFT) interest. In a Cointelegraph interview, Siu stated that he is expecting AAA-rated blockchain games to be released by 2023.
Additionally, Animoca is waiting for a license to launch its metaverse fund, a key component of the Web 3.0 metaverse.
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Nifty News: Sega exec calls P2E games ‘boring,’ Tom Brady’s NFT firm switches it up and more
Shuji Utsumi, an executive from Sega, the company behind popular game franchises like Sonic The Hedgehog, described play-to-earn games as “boring” and said that Sega is discontinuing its plans to develop blockchain games. Meanwhile, the NFT-focused startup of American sports star Tom Brady is reportedly moving away from NFTs, quietly removing crypto language in its materials.
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CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST
Thanks for reading this digest of the week’s most notable developments in the web 3.0 metaverse. From crypto.com to algorand crypto and barnbridge crypto, the space is actively evolving. Ali Crypto, Aptos Crypto and AMP Crypto Today have all seen major crypto breaking news this week.
Come again next Wednesday for more reports and insights into this actively evolving metaverse web 3.0 space.
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