In this week’s newsletter, read about the most expensive CryptoPunk sale in 30 days. Check out the report that predicts the growth of the NFT market in 2030 and actor Bill Murray’s biographical NFT project.
You can also learn more about the Otherside Metaverse’s successful tech demo. And don’t forget about this week’s Nifty News roundup featuring a Bored Ape Yacht Club (BAYC) NFT at clothing retailer Old Navy and a whisky bottle being auctioned as an NFT.
CryptoPunk sells for $2.6M as big NFT brands’ floor prices increase
A CryptoPunk NFT was purchased for 2,500 Ether (ETH), which is $2.6 million at the time. Despite a downward move in the overall NFT market, the transaction involving CryptoPunk4464 — an ape-themed CryptoPunk has become the biggest NFT sale in 30 days.
The sale is also the CryptoPunk collections’ fourth biggest sale of all time in ETH, but only the 15th biggest transaction in United States dollar due to the recent fall in ETH price.
NFT market valued at $231B by 2030 Report projects big growth for sector
Verified Market Research published a report that predicted the NFT market would reach $230 billion in 2030. The researchers delved into the NFT market and valued it at $11.3 billion by 2021. They also noted that the market would grow at 33.7% annually over the next few years.
The gaming industry was identified by the researchers as one of the main drivers of NFT adoption. Research found that gaming played a major role in NFT adoption, citing projects like Enjin & Axie Infinity.
Bill Murray’s biographical NFT project set to be premiered by Coinbase
American actor and comedian Bill Murray partnered with the NFT platform of crypto exchange Coinbase to release an NFT collection with 1000 pieces and highlighted that it shows advice, memories and “Murray-isms.”
Coinbase claims that the actor and son edited, approved, and reviewed each story in the collection. John Resig was the author.
Otherside Metaverse Demo Kicks Off with 4,500 Participants: Highlights
On July 16, Otherside Metaverse demo opened to Otherdeed NFT landowners dubbed “Voyagers”. Many participants took to Twitter to share their joy at the event, which was apparently a huge success.
Voyagers entered a virtual lobby to view the demo. They then followed a Bored Ape through a portal into the Otherside Metaverse. The Voyagers reached Biogenic Swamp and moved towards a central stadium. Participants can then explore the functionality of their avatars.
Nifty News: Old Navy’s BAYC shirts, expensive whisky NFTs, Sandbox publishing
Old Navy has launched a new T-shirt with BAYC #7285. It is available for $19.95 Some people were skeptical about the move. Others were happy to see their favourite NFT collection become more popular. A 52-year-old Japanese whisky bottle is being sold as an NFT with a starting bid of 62ETH or $75,000.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Next Wednesday, you can find more insights and reports in this dynamic space.