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Magic Eden Rewards, Treeverse, and Immutable – Top NFT News Today – 24 January

The non-fungible token (NFT) market is experiencing a challenging day, with significant declines making headlines in the world of NFTs.

In the last 24 hours, the sales volume has plummeted by almost 20%, currently standing at $29,981,386. Unfortunately, the weekly figures don’t paint a much brighter picture.

Additionally, the number of buyers and sellers has decreased by 17% and 6% respectively in the past day. Transactions have also seen a decline of over 15%, as reported by CryptoSlam.

Among the ten largest NFT collections by sales volume, some noteworthy performers stand out today. Pudgy Penguins have witnessed the most significant daily increase, surging by 60% to reach $626,018 in value. DMarket follows closely, experiencing a 48% rise to reach $617,815.

However, it’s essential to note that despite holding the top position in overall volume at $1.55 million, Crypto Punks suffered the most substantial daily drop, falling nearly 60%. This decline is followed by Ordinals and CryptoUndeads, both experiencing around a 45% decrease.

In today’s NFT news highlights: Magic Eden has unveiled a new rewards program and a retroactive drop, while weekly sales volumes have decreased. Solana maintains its position between Ethereum and Bitcoin, and Endless Clouds is preparing to launch two titles on Immutable zkEVM.

Magic Eden Reveals Rewards and Retroactive Drop for Solana OGs

Magic Eden, the NFT marketplace, has generated significant attention in today’s NFT news by unveiling an innovative incentivization initiative for both collectors and creators.

According to their recent announcement, the Magic Eden team has dedicated the past year to crafting a comprehensive, long-term, cross-chain NFT rewards program that caters to a wide audience.

They emphasize that this is not just another run-of-the-mill points-based campaign. Instead, it represents a carefully designed plan aimed at giving back to Magic Eden’s original supporters (OGs), collectors, creators, and enthusiasts.

The initial launch of this rewards program will take place on the Solana blockchain. However, Magic Eden has ambitious plans to extend this initiative to collectors and creators operating on various blockchain networks.

For the Solana OGs (original supporters), a special event called the “Retroactive Diamond Drop” is scheduled for February 2nd.

Magic Ticket holders can also look forward to their inclusion in the program in the near future.

The team at Magic Eden has made a promising commitment, stating that they will acknowledge and reward past, present, and future activities on their marketplaces, spanning across Solana, Bitcoin, Ethereum, and Polygon.

Furthermore, they have plans to release the Magic Wallet shortly, intending to integrate the rewards program seamlessly into this wallet.

Jack Lu, the CEO of Magic Eden, emphasized that a rewards program should go beyond mere points and should encapsulate the essence of the company. He stated, “Our mission at Magic Eden is to make digital ownership universal.”

Weekly NFT Sales Drop, Solana Ahead of Bitcoin

The NFT market has seen a decline in sales over the past week, experiencing a 13% drop and currently totaling $268,396,450 in volume.

Additionally, the number of NFT transactions has decreased by 19%, reaching 2.3 million.

However, not all aspects are in the red. Buyers have increased by 51% over the past seven days, and there has been a significant 57% uptick in the number of sellers.

Notably, Solana has maintained its position ahead of Bitcoin in the NFT sales volume rankings, despite Bitcoin’s recent surge. Solana currently holds the second position among the top 10 blockchains for NFT sales.

Ethereum remains in the top spot, although it has experienced a decline of over 30%, with a total volume of $9.8 million. Solana is now relatively close, even with a 6% decrease, at $7.88 million.

Bitcoin, ranking third, has seen a 22% drop in sales over the past week, totaling $6.19 million. Meanwhile, Polygon, ranked fourth, lags behind with $1.6 million in volume, experiencing a 32% decrease.

Endless Clouds Partners with Immutable to Launch Treeverse and Capsule Heroes

Game studio Endless Clouds has formed a partnership with the Web3 gaming platform Immutable to introduce two exciting titles on the Immutable zkEVM blockchain.

The first of these titles is Treeverse, an MMORPG that transports players to the enchanting city of Lorwick. The second is Capsule Heroes, a PvP brawler game.

The collaboration is geared toward facilitating the onboarding of millions of gamers as the Endless Clouds team focuses on production, with Immutable providing essential infrastructure support.

Furthermore, both games will eventually incorporate Immutable Passport, offering a streamlined solution for managing gamers’ identities and digital assets across various games.

This partnership has been designed to ensure the seamless integration of future Web3 games as an add-on feature. It paves the way for the eventual introduction of NFTs that will be tradable within both games when the timing is deemed optimal.

It is expected that the assets acquired by users in-game, purchased from the store, or obtained through additional collections will predominantly reside on the Immutable zkEVM chain.

The Immutable zkEVM Testnet was launched in August of the previous year, leveraging the power of Polygon. The Mainnet release is anticipated in the near future, promising exciting opportunities for blockchain-based gaming experiences.

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