NFT

NFT Trends and Insights

Thursday. January 16 at 12:00 AM

1 min. read

Cointelegraph presents the latest Nifty Newsletter, keeping readers informed about non-fungible tokens (NFTs). The newsletter highlights the DappRadar report revealing 2024 as the worst year for NFTs since 2020. It discusses the 13% increase in CryptoPunks NFT floor price amid rumors of a sale and the introduction of NFT tickets for Indian Railways passengers heading to the MahaKumbh Mela festival. According to DappRadar's 2024 Dapp Industry Report, NFT trading volume and sales declined significantly due to higher prices and market volatility. The report contrasts this with the booming NFT market in 2022. Rumors of CryptoPunks' IP rights sale and Chaincode Consulting's partnership with Indian Railways for NFT-based train tickets are also covered. The newsletter aims to provide insights into NFT trends, emerging artists, and market opportunities, delivered every Wednesday.

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Token Generation Events for Orbiter Finance and Anime Revealed

Saturday. January 18 at 2:00 AM

Orbiter Finance and Anime have announced their Token Generation Event (TGE) dates, coinciding with Donald Trump's inauguration week. Orbiter Finance disclosed the TGE date for its OBT token on January 20, rewarding early adopters. The project has seen significant growth over the past three years, with 4.3 million users and $28 billion in transactions. OBT is an ERC-20 token aimed at driving Web3 adoption across multiple networks. Anime's TGE is set for January 23, introducing unique allocation mechanics using Collector Score points. Despite the buzz surrounding the events, some investors have expressed concerns about the lack of significant price surges for related NFTs. Overall, the TGEs for OBT and ANIME reflect the growing momentum in blockchain innovation, with Orbiter Finance and Anime showcasing their commitment to decentralized ecosystems and community-driven approaches.

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MakersPlace NFT Platform to Shut Down Amid Market Decline

Saturday. January 18 at 12:00 AM

MakersPlace, a digital art platform specializing in non-fungible tokens, is closing due to challenges in the NFT market. Launched in 2018, the company announced its shutdown on Jan. 15 after facing funding difficulties. The closure reflects the overall slump in the NFT industry, with MakersPlace disabling minting and new accounts immediately. Users can still buy NFTs until the platform closes completely. A transfer tool will be available in February for users to move their NFTs off the platform until June. Despite raising $30 million in funding from industry giants, MakersPlace will return unused funds to investors and provide fair severances to employees. The NFT market downturn has led to several marketplaces, including MakersPlace, shutting down operations. However, some experts believe NFTs will bounce back stronger than before. MakersPlace's closure marks a significant development in the evolving NFT landscape.

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Shiba Inu Token Burn Trends and Price Analysis

Friday. January 17 at 10:00 AM

Shiba Inu, the second-largest meme coin, has experienced a rise in price along with an increase in token burns. Over the past 24 hours, the number of SHIB tokens burned has gone up by 21.76%, as reported by Shibburn.com. Despite this positive trend, the overall burn activity has been lackluster in the past weeks, with daily burns hovering around 21 million SHIB tokens. This amount is insufficient for significant bullish momentum due to the massive circulating supply of over 589 trillion tokens. Token burns are crucial for Shiba Inu's price growth, and a more consistent approach is needed to make a substantial impact. The recent 21.76% increase in burn activity could signal a positive shift, especially with the broader crypto market's recovery supporting Shiba Inu's price. Technical analysis suggests a potential breakout in the near future, indicating a possible price surge for Shiba Inu.

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Legal Action Against Solana Memecoin Launchpad Pump.fun

Thursday. January 16 at 6:00 PM

Burwick Law, a US crypto law firm, is initiating legal action on behalf of investors who suffered losses from the Solana memecoin launchpad Pump.fun. The firm announced its intention to pursue legal action for investors in pumpdotfun memecoins due to significant financial losses. Pump.fun has reportedly collected millions in fees while displaying illicit activities on its platform. Burwick Law criticized the creators of Pump.fun and other individuals involved in memecoins and scams. The law firm is inviting potential class-action group members to participate in the investigation. Only a small percentage of crypto wallets interacting with Pump.fun have made profits, indicating a large potential client base for the legal action. Pump.fun's livestream feature was suspended to prevent dangerous promotional stunts. The UK's Financial Conduct Authority banned access to Pump.fun to combat scams. Burwick Law is also pursuing legal action for investors affected by other NFT projects. Source: Burwick Law

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