Meta-Hebdo: OpenSea, Kraken, Yuga Labs, zoom in on this week’s NFT news

Let’s fly over – Occasionally, full of color and lightweight NFTs allows us to dress in the metaverse, sometimes bubbly and sometimes calmer, the weeks follow each other and are not alike in the universe of the NFTs and the metaverse. This was the case this week despite certain events that caught our attention. From the NFT exchange war to game over from Yuga Labs on the Ethereum blockchain, let’s take a look at this meta-week.

In order not to get lost in Meta-Hebdo

NFT Marketplace War

Opensea flies away

That Opensea NFT Marketplace decided this week to confirm its success and increase its development. After integration Solana Blockchain NFTs (SOL) in April last year, Opensea made a new strategic choice.

Opensea therefore turned to an NFT aggregator : The GEM company. This data aggregator allows users to get a price comparison with other NFT marketplaces.

However, the service will remain independent of Opensea as an independent brand. The platform’s reputation, which was weakened by a hack a few months ago, forces it to confirm its desire for seriousness and security. Also according to the technical expertise of the project (due diligence) the company preferred to differentiate itself from a sulfurous and malicious employee.

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Kraken joins Coinbase and FTX: An Octopus Among NFT Platforms

Coinbase launched the beta version of its NFT marketplace less than two weeks ago and was just about to open this week’s access to the general public. Binance was already launched in June, joining FTX in September 2021.

It’s now the turn The octopus to expand its tentacles around the NFT phenomenon. For the launch of this platform, more than 8.4 million people signed up on the waiting lists. The blockchain squid thus allows some of its users to sign up for a list to use the beta version of the NFT market.

Still good NFTs!

VanEck: after Bitcoin, NFTs

VanEck, a New York-based investment management company, specializes in exchange traded funds (ETFs). However, stopped by the SEC in its ETF run on BTC futures. Thus, the company finally approached NFT.

1000 NFTs will be created in the “VanEck Community NFT” collection. This collection launched on the Ethereum blockchain revolves around a caricature of the founder of the United States, Alexander Hamilton.

The purpose of this collection is to create a community for VanEck investors. These NFTs are also a way of educating cryptocurrency holders. The vision of the co-founder of VanEck, JP Lee on this topic deserves to be emphasized:

“Our NFTs will all feature amazing 3D avatars and videos in narrative style that will help create a true sense of history and stimulate discussion, debate and community. Our character” Hammy “will be a unique guide for all , who want to see the development of the past, present and future of finance. “

The management company then proposes in this dynamic, a roadmap, a collection with three levels of rarity, which provides access to events and benefits offered by VanEck.

Tweet from VanEck confirming the launch of its collection of non-fungible tokens (NFT).
Here it is ! VanEck Community NFTs Launched Today (…) ”Source: Twitter

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Ethereum Name Service: NFT like no other

On blockchain, Ethereum still has this week domain names being noticed. These funny named NFTs Ethereum Name Service is derived from a domain name protocol on the Ethereum blockchain.

In practice, ENS allows you to link your address Ethereum at a marked address .ethtatasimone.eth for example. Convenient for both the user and the network, these NFTs are on the rise.

In fact, 5 years after their creation, more than 1.1 million domain names have been created. The pace has accelerated since November 2021 and reached its peak in April last year with 162,000 ENS set up. The secondary market then becomes a new gold mine. Some NFTs bring in tens of thousands or even hundreds of thousands of dollars.

ETH-Ethereum: logo

A regulator in the meta-verse

This week, it was Dubai in the United Arab Emirates that confirmed its interest in NFTs allowing it Sandboxes to be on the initiative of a historic first.

In fact, the metaverse game will be the first to offer the presence of a national institution in its virtual space. Vara, a government agency in Dubai, is dedicated to providing a secure operating environment in the metaverse and cryptocurrencies. Recognizing that digital assets are an integral part of the future economy, the Dubai government wants to allow the blockchain industry to settle with it.

“VARA’s acquisition of land in the sandbox is a symbol of our confidence in this sector, and it is our responsibility as a government to be the bridge that allows investors and consumers to safely adopt and scale the collaborative economy. In addition to generating direct economic benefits and accelerated GDP for Dubai, VARA sees this as the first step towards shared learning. “

Helal Saeed Almarri, CEO of Dubai World Trade Center Authority

Dubai then became the future capital of the metaverse. An advanced technology leader, VARA will enable interoperability, investor adoption and protection against market volatility.

Ethereum and Yuga Labs: game of the week completed

The Otherdeed Fiasco

Yuga Labs, parent company of the NFT Bored Ape Yatch Club monkeys had to repair the broken pots of their first coin this week (launch, creation of the NFT). In fact, the launch of plots of its metaverse has done explode ethereum blockchain.

Faced with this failure, which is in the news this week, Yuga Labs has been forced into this jungle by repayment of failed transactions during the implementation of Otherdeed NFTs. So a total of 90.57 ETH, about $ 265,000 at the time of writing, was returned to the 640 users.

“We have refunded gas fees to anyone who made a transaction that failed due to network conditions caused by the coin (…) The fees were sent back to the wallets used for the initial transaction.”

Statement from Yuga Labs on Twitter

The Bored Ape Yatch pulverized ethereum blockchain under the coin of their lands.

Polygon’s choice to save the game

After this chaotic launch of plots on Ethereum, Yuga Labs decided that its token l‘Ape Coin would do much better on the Polygon network. The sale of the grounds for this metaverse enabled Yuga Labs to win 16.7 million ApeCoin, or $ 317 million. Congestion during the mint launch caused NFT network charges to rise. Expansion on Polygon would make it possible to take advantage of these profits in ApeCoin without incurring ethereum fees.

Announcement of ApeCoin support on Polygon – Source: Twitter.

Elon Musk also surfs this news and changes his Twitter profile picture to show a photo montage of Bored Ape instead. Rumor has it that he is a fan, but no, the businessman chooses sarcasm:

“I do not know … it seems a little interchangeable to me” Twitter account @elonmusk

Once we have taken some heights, we understand that the week has not been as calm as it seems. From Yuga Labs to OpenSea and others such asAxie Infinity, many projects continue to evolve, despite occasional pitfalls. We continue week after week to follow them together.

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