There has been a notable surge in positive activity in the non-fungible token (NFT) market over the past 24 hours.
According to CryptoSlam, the total sales volume has increased by 12.5% to reach $34,820,790.
Buyers, sellers, and transaction numbers have all experienced growth, ranging from 3% to 8%.
The leading collection in terms of sales volume today is LockDealNFT, which has generated $2.7 million. This collection has also garnered significant attention in NFT news due to its outstanding performance, with an impressive jump of 3,223%. In comparison, the second-best performer, Froganas, has seen a 59% increase.
In terms of top blockchains, Bitcoin has seen a decrease of 12%, with a total value of $7.4 million. Conversely, its competitor Solana has experienced a 2% uptick, reaching $8.7 million in total sales volume. This shift has widened the gap between the two competing blockchains.
Ethereum remains firmly at the top, with a total sales volume of $9.5 million.
However, there are noteworthy developments related to Bitcoin in the NFT sphere:
– Monthly NFT sales on the Bitcoin blockchain have declined by over 60%.
– The minting of Quantum Cats NFTs has been postponed.
– Owners of Pudgy Penguins NFTs have the opportunity to transform their characters into tangible toys.
These updates highlight the dynamic and evolving nature of the NFT market.
NFT Sales on Bitcoin Plunge 62% in January
The monthly NFT sales volume on the Bitcoin network has experienced a significant decline. According to CryptoSlam, there has been a drop of 61.6%, bringing the current figure to $330,737,889.
Additionally, the number of transactions has seen a sharp decrease, down by 49% with a total of 245,510 recorded over the past month.
This decline in sales volume is quite pronounced when looking at the comparative data. In December, the sales volume reached $868,974,031, which is substantially higher than the current figure of $330.7 million in January.
December saw 110,235 unique buyers, whereas January had 75,842. In terms of unique sellers, December had 98,283 compared to January’s 65,203. Moreover, December had twice the number of transactions in comparison to January, with 484,556 transactions in the former and a lower figure in the latter.
As a result, this decrease in NFT activity is evident across various aspects of the Bitcoin network. In December, the network’s strongest day was December 16, with a recorded sales volume of $86,082,207. On the preceding day, it was also robust, with $85,434,038 in sales volume.
In contrast, January’s highest sales volume on the Bitcoin network occurred on January 2, totaling $18,823,301, followed by January 11, when the network recorded $17,359,189 in sales volume.
Breaking NFT News: Taproot Wizards’ Bitcoin Ordinals Sale Postponed
Regarding Bitcoin Ordinals and, more specifically, Quantum Cats, the highly anticipated NFT sale by Taproot Wizards experienced a postponement due to technical issues.
Originally, the Quantum Cats whitelist phase was announced for Monday and was scheduled to last for two hours. This was meant to be followed by the public minting phase, which would continue until the entire collection was sold out.
However, the team decided to reschedule the minting to February 1st. They extended the whitelist phase by an additional five hours to accommodate individuals in different time zones and ensure a more comfortable minting experience.
Co-founder Udi Wertheimer explained that the minting website did not perform as well as expected initially. Nevertheless, during the time when it was functional, nearly 1,000 cats were successfully minted.
It’s important to note that all funds associated with this NFT sale are secure, according to Udi Wertheimer’s assurance.
Following the minting, the cats will be distributed to the respective wallets on Friday, providing collectors with their Quantum Cats NFTs as planned.
Pudgy Penguins Reveals Its IP Licensing Platform
The creators of the popular Pudgy Penguins collection have announced the opening of licensing for Pudgy Toys’ second chapter.
In their statement, they explain, “The Chapter 2 Pudgy Toy licensing deal pertains to the Pudgy penguins that will be featured in our upcoming line of toys.”
Building on the success of Chapter 1, the platform expresses their enthusiasm, saying, “We are thrilled to offer more licensing opportunities to our community, enabling them to bring their beloved Pudgy Penguins to life through physical toys.”
This initiative is made possible through their proprietary intellectual property (IP) licensing platform, OverpassIP.
Importantly, Pudgy Penguins and Lil Pudgy owners are invited to participate in this process over the next two weeks, granting them the opportunity to transform their MFT (Multi-Fungible Token) penguins into tangible toys.
The website further specifies that owners who successfully engage in the program will have the ability to grant licenses to well-known brands for product or media integration. It’s worth noting that submitting an NFT for selection does not guarantee automatic selection.
Additionally, OverpassIP has introduced “Pudgy Rods” as multipliers for licensing deals. These Pudgy Rods come into play if both the Penguin and the Rod are in the same wallet, and they play a role in calculating the payout.
The team adds, “The Pudgy Rods have introduced an additional layer of utility and will serve as multipliers for specific licensing deals, on-chain drops, or claims that we may explore in the future.” This innovative approach enhances the versatility and value of the Pudgy Penguins ecosystem.