Over the last 24 hours, the non-fungible tokens (NFT) market has experienced minimal fluctuations, with notable developments revolving around Pudgy Penguins, RARI Chain, and Magic Eden.
The total sales volume has increased by 3.5%, currently standing at $31,574,164.
According to CryptoSlam, the number of buyers, sellers, and transactions has each slightly decreased by approximately 1%.
In the realm of the top 10 blockchains based on NFT sales volume, an interesting shift has occurred as Bitcoin has once again surpassed Solana for the second position. Bitcoin now holds a substantial lead over Solana, with $7.99 million compared to $6.45 million in sales volume.
Among the top 10 collections, the most significant growth observed in the past day has been in the Bored Ape Yacht Club, with a remarkable surge of nearly 300%, reaching $794,844. This stands out when compared to the second-highest gainer, Ordinals, which has seen an 11.5% increase, along with a similar rise of 11% in Froganas.
Regarding the ranking by sales volume, Ordinals currently occupies the first place with $1.34 million.
In today’s NFT news, you can explore Pudgy Penguins achieving noteworthy milestones, the launch of the RARI Chain mainnet ushering in a new era for NFTs, and Magic Eden’s release of updates pertaining to its Rewards program.
Pudgy Penguins Hits 50,000 Accounts Milestone, Over 750,000 Toys Sold
Today, the Pudgy Penguin team took to Twitter to share several significant developments within their collection:
They proudly announced that more than 55,000 accounts have been created within the Pudgy World ecosystem.
In April 2022, the team secured licenses for Pudgy Penguins and their younger counterparts, Lil Pudgys, from the holders for the creation of Pudgy Toys. This strategic move has been incredibly successful.
The licensed Penguins made their way into the global retail scene, gracing the shelves of top retailers worldwide. Impressively, they achieved sales of over 750,000 toys in just seven months, with major retailers such as ToysRUs, Hot Topic, Walmart, and Macy’s among their distribution partners.
The team proudly stated, “In 2023, these Penguins played a pivotal role in advancing Web3, selling more than 750,000 toys and reaching millions of people.”
The Pudgy Penguins and Lil Pudgys toy line has extended its presence to nine different countries, including the USA, Canada, the UK, Ireland, Spain, Australia, Thailand, Malaysia, and Singapore.
The team emphasized that their toy line not only contributed to the success of the Pudgy Penguins brand but also cast a positive light on the Web3 space.
In terms of sales volume, Pudgy Penguins have experienced a remarkable 130% increase in just 24 hours, bringing their total to $597,812, securing the 11th spot in the rankings.
However, over the past week, the collection has shifted to the 12th place, with a 63% decrease in sales volume, now standing at $3.2 million.
New Era of NFTs With Rari: Royalty Payments Embedded Into Every Transaction
The RARI Foundation has made a significant stride by launching the mainnet of RARI Chain, which operates as an Ethereum Layer 3 (L3) blockchain running on Arbitrum. This launch is geared towards ushering in a new era for NFTs.
In their official announcement, the RARI Foundation highlighted the advantages of RARI Chain, boasting “lightning-fast transactions and near-zero gas fees,” with a primary focus on establishing a secure L3 infrastructure powered by Arbitrum.
One of the primary objectives of RARI Chain is to tackle the scalability challenges faced within the NFT space. Additionally, it incorporates a unique feature by embedding royalty payments at the node level, ensuring that royalties are automatically distributed to creators at the time of sale.
The website further emphasized that this development signifies the commencement of a new era for NFTs, granting creators greater control over their income and securing rightful royalties for their creative works.
Notably, the team has emphasized the promise of “near-zero gas fees” on the RARI Chain.
Since the Testnet was introduced in November, it has garnered significant interest, with 46,000 wallets and an impressive 251,000 transactions recorded.
Furthermore, the introduction of the RARI DAO enables participation in the governance of the chain, allowing anyone to have a say in its decision-making processes.
Lastly, RARI has already partnered with the first ten artists for a series of open-edition collection drops, indicating a promising future for the platform and its creative ecosystem.
Magic Eden Sees Uptick Since Rewards Launch
On Tuesday, Magic Eden, the NFT marketplace, unveiled its highly anticipated rewards program for collectors and creators, generating significant buzz in the NFT news circuit.
Within just one day of its launch, the platform reported a remarkable quadrupling of listings near the floor, indicating a surge in NFT activity.
Additionally, there was a substantial 250% increase in the number of pools available on the marketplace, showcasing its growing ecosystem. Impressively, nearly 60% of the new Solana NFT wallets chose Magic Eden as their platform of choice.
Furthermore, Magic Eden stood as the host for nearly 50% of the listings within the top 10 NFT collections, reinforcing its position as a prominent player in the NFT landscape.
In a move that demonstrates their commitment to the community, Magic Eden announced an upcoming retroactive drop for Solana OGs (original gangsters), scheduled to commence next Friday. This initiative will reward individuals for their past activity dating back to 2021, serving as a token of appreciation for the community’s steadfast support over the last three years.
Magic Eden CEO Jack Lu expressed his gratitude for the community’s dedication and enthusiasm.
Additionally, the platform shared a comprehensive guide on how users can earn Diamonds, further enhancing the engagement and involvement of collectors and creators within the Magic Eden ecosystem.
