NFT 79 - Bitcoin NFTs on the rise
NFT 79 - Bitcoin NFTs on the rise
Blur blocks OpenSea, 535 DeGods migrate to Bitcoin, $162k Bored Ape burnt, and more.
NFT Review is a weekly newsletter covering NFTs in the Web3 ecosystem on Polkadot’s side of the woods. The newsletter is put together by Bruno Škvorc and gbaci.
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Dear NFT enthusiast,
Bitcoin NFTs are now the rave. Proof lies in the Glassnode report that outlines that, for the first time ever, there are 44 million non-zero addresses on Bitcoin. But it does not end there. In unexpected developments, NFTs from some of the top NFT collections on both Ethereum and Solana have been migrated to Bitcoin. Solana’s DeGods founders announced that 535 burned DeGods NFTs will now live forever on the Bitcoin network, while a Bored Ape owner burned their $169K NFT on Ethereum to migrate it to Bitcoin.
This shift raises some interesting questions for the NFT space. Will more NFT collection founders follow suit and migrate some of their NFTs to Bitcoin? And what will drive NFT holders to move their NFTs to a new blockchain? Is it a desire to hold it on a more 'prestigious' chain, or to find a new economic home? These questions highlight the complexity of the NFT market and how it is constantly evolving.
However, the rise of Bitcoin NFTs is not without its challenges. Bitcoin block sizes and transaction fees are rising with the growing popularity of Bitcoin NFTs. Some Bitcoin maximalists have voiced concerns over the sustainability of this 'NFT invasion.' As with any new technology, there will always be growing pains and questions that need to be addressed. Only time will tell what the future holds for Bitcoin and its role in the ever-changing world of NFTs.
Thank you for reading and have a great week.
— NFT Review
📬 NFT News from Kusama & Polkadot
Singular published a January recap, a new set of verified NFT collections, and a report on its visit to Brigada.
Efinity (NFT-focused parachain on Polkadot) published a new development update.
Bit.Country (metaverse parachain) announced upcoming features its community should expect, which include a new game.
Exosama hosted an AMA on Twitter with Moonsama Co-founder and CTO Kyilkhor Sama.
🗞 NFT News from Ethereum and Beyond
Chiliz launches layer-1 blockchain to expand fan token ecosystem.
Hermès wins trademark lawsuit against NFT artist Mason Rothschild, awarded $133,000 in damages.
Chainspace NFT Portals connect Bitcoin and Ethereum.
Blur ‘advises’ NFT creators to block OpenSea in royalties battle.
OpenSea halts trading on Rihanna music NFTs.
Amazon funds Web3-friendly studio Superplastic in $20 million round.
Napster acquires mint songs to advance its Web3 ambitions.
Blur launches long-awaited token airdrop for Ethereum NFT traders.
Magic Eden sheds 22 employees as layoffs hit the Solana NFT marketplace.
LACMA art museum acquires NFT collection with Cryptopunk, Art Blocks.
Reddit has given away over a million Super Bowl NFTs on Polygon.
Def Jam creates NFT band with Solana’s Catalina Whale Mixer.
Cryptex Finance’s new index token to track top 10 NFT collections.
Bueno, an NFT creator suite, is rolling out an editions tool called Bueno Drops.
Homes by Roofstock saw one of its Alabama residences sell via an NFT purchase for 180,000 USDC.
RabbitHole introduced the Quest Protocol.
ZackXBT teamed up with YouTuber Coffeezilla for an exposé on mixed martial artist turned sketchy NFT promoter Dillon Danis.
Cool Cats holders were airdropped Fracture NFTs, which provide access to a gamified story-telling experience.
Finiliar introduced Finiliar Studios.
Wylie Aronow, co-founder of Yuga Labs, published a definitive rebuttal of BAYC conspiracy theories.
Sound introduced Curator Rewards.
Tessera unveiled Escher, a curated marketplace for fine art editions.
VerticalCrypto Art, a curatorial house, entered into a partnership with Art Blocks Engine.
Illuvium announced that Illuvium: Beyond, a customizable NFT adventure game, will kick off in one month.
LEVELS.art arrived, a new decentralized arcade with mini-games created by cryptoartists.
Mongraal, a Fortnite esports player, finished 1st in Yuga Labs’s Dookey Dash competition.
The Sandbox and Saudi Arabia agreed to collaborate on a series of metaverse projects.
Webaverse revealed its team was hit with an advanced crypto theft last year.
DeFiLlama unveiled an aggregator for NFT loans.
Nouns DAO is set to vote on doing its second open edition mint for The Wizard’s Hat, a film by the Nouns Stories team.
ClearHat posted a thread on how Yuga Labs’s Dookey Dash game seems to have been heavily botted.
NFTkek is a cool NFT analytics platform that allows you to analyze key stats and informative, colorful graphs on NFT collections.
France’s top modern art museum, to display CryptoPunks and Autoglyphs NFTs.
That’s all for this week, see you in the next edition! Got some links to share with us, artists to feature, NFTs to sell, jobs to promote, or events to popularize? Get in touch with Bruno or gbaci!