NFT Sales Skyrocket in 2022
A newly released report by DappRadar reveals that NFT sales soared to an astonishing 101 million in 2022, marking a hefty 67.57% increase compared to the previous year. This surge highlights the growing popularity and investment in the NFT market.
The Ethereum blockchain takes the lead in this digital gold rush, facilitating a staggering 21.2 million transactions. Following closely are WAX with 14.5 million, Polygon at 13.3 million, and Solana with 12.9 million transactions, showcasing a vital shift towards decentralized platforms.
Legal Grievances: Summoning via NFT
In a world where traditional courtroom methods sometimes fall flat, savvy crypto lawyers are proposing an innovative approach: serving court orders through NFTs. According to Agustin Barbara, a managing partner at The Crypto Lawyers, using NFTs could be an effective tool for summoning defendants engaged in blockchain crimes who are difficult to track down.
This method involves sending an NFT court order to the blockchain wallet address of the defendants where the assets are held, allowing for a blend of technology and legal proceedings that could reshape litigation in the crypto space.
The Toy Box of Web3: A Play on Tokens
Podcast insights from NFT Steez feature Will Weinraub, CEO of Cryptoys, discussing the intersection of toys and Web3. Weinraub elaborates on how a nostalgic yearning for playful experiences is guiding the evolution of gaming within NFTs.
- Tokenomics play a crucial role in bridging traditional entertainment and blockchain technology.
- The enthusiasm for digital collectibles is surging among adults craving the frivolous joy of play.
Binance Tightens NFT Listings
Amidst the flourishing NFT market, Binance has announced stricter rules for NFT listings starting January 19. The exchange plans to delist NFTs with an average daily trading volume below $1,000 from November 1, 2022, to January 31, 2023, ensuring that only viable assets remain on the platform.
In addition, changes are on the horizon for artists as they will be limited to minting only five digital collectibles per day, effective January 21, 2023. All non-compliant NFTs will face delisting beginning February 2, 2023, emphasizing a commitment to quality over quantity.
Nifty News: Political NFTs on the Rise
In a surprising turn of events, NFTs associated with former President Donald Trump have surged by 800%, according to the sales tracker CryptoSlam. This spike is suspected to be linked to Trump’s return to social media platforms ahead of the 2024 U.S. elections, proving that political figures can still stir the NFT pot.
Stay tuned for next week’s roundup of NFT developments. Who knows what creative and chaotic situations our beloved crypto landscape will throw at us next!
