Web3 Weekly Review: NFT Tax Loss Harvesting Spike, Top 4 NFTs Hit $11M, and 'Ready Player One' Inspired Metaverse on Horizon...
NFT Weekly News #35 1st Jan- 7th Jan
NFT News Weekly Update #35
(01/01/2024-07/01/2024)
GM
Welcome to NFT Weekly News by Threekeyslab🗝️🗝️🗝️. Here you can find the latest curated news📰in the NFT world. Every week, we aim to provide a selection of the most interesting news and events that are fostering the development of the NFT world.
The NFT field is constantly evolving, and this article will review last week's Top🔝NFT news. Let's take a look👀together!
(Please don't forget to subscribe below and follow Threekeyslab on Twitter for more! )
Top News 🔝
📌NFT |Rise in NFT Tax Loss Harvesting Before Year-End (Jan 1)
NFT traders are increasingly using tax loss harvesting to offset capital gains by selling valueless NFTs as the year-end deadline nears. This surge is driven by services like Harvest.Art and Unsellable NFTs, amidst heightened IRS focus on crypto tax evasion. The trend merges cryptocurrency with traditional tax planning techniques.
📌NFT|Top 4 NFT Sales of 2023 Total Over $11M (Jan 1)
The four largest NFT sales in 2023 collectively exceeded $11 million. These include "The Goose" (3655 ETH), "The DooKey Dash Key" (1000 ETH), a Zombie CryptoPunk (857 ETH), and a Gold Fur BAYC (800 ETH), marking significant transactions in the NFT marketplace.
📌Web3|Readyverse: A New Metaverse Inspired by "Ready Player One" Launching in 2024 (Jan 4)
Futureverse and "Ready Player One" creators are collaborating to create the Readyverse, a metaverse based on the popular novel and film. Slated for a 2024 launch, this project aims to realize a decentralized, interoperable virtual world, integrating the novel's principles and Warner Bros. Discovery's IP. The Readyverse, running on The Root Network blockchain, represents a notable fusion of traditional entertainment with emerging metaverse technology.
Market Update 📣
Otherdeed, Madlads, Azuki were the main NFT PFP projects sold last week.
Chromie Squiggle, Winds of Yawanawa, Gazer were the main NFT Art projects sold last week.
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
NFT|Node Monkes NFTs Surge in Popularity with 500 BTC Volume and Rising Floor Price (Jan 4)
The Node Monkes NFT collection has surpassed 500 BTC in trading volume and is nearing a 0.2 BTC floor price, following a significant purchase by notable collector Gordon Goner. According to @MoonOverlord, major Bitcoin wallets are increasingly investing in the Ordinals space, with one buyer acquiring $400,000 worth of Monkes, including four rare alien variants, in just an hour. This trend highlights the growing interest and investment in the NFT sector within the cryptocurrency community.
NFT|Solana NFT new assets mint Surpass Ethereum, Setting a Historic Record (Jan 3)
For the first time, Solana NFTs have outperformed Ethereum in monthly sales, reaching $366.5 million in December 2023 against Ethereum's $353.2 million. This milestone, highlighted by CryptoSlam, underscores Solana's rising prominence in the NFT market, driven by user engagement and innovative projects
Web3|Etherscan Acquires Solana's Block Explorer Solscan (Jan 3)
Etherscan, a leading Ethereum block explorer, has acquired Solscan, the prominent Solana blockchain explorer. This move, aimed at enhancing growth and usability, will bring advanced features like contract verification to Solscan. Both platforms anticipate improved user experiences and integrated functionalities.
Web3|Epic Games Lists 'Adults Only' Blockchain Games, Easing Policy (Dec 21)
Epic Games has updated its policy to allow blockchain games with 'Adults Only' ratings on its platform, notably reinstating games like "Gods Unchained" and "Striker Manager 3". This move signals a shift towards embracing blockchain technology in gaming, despite the ESRB's stance that not all blockchain games require an 'Adults Only' rating. This development is a key step in the integration of web3 gaming with mainstream gaming platforms.
Web2|Morgan Stanley Backs WorldBrain's Decentralized AI Network Initiative (Jan 3)
Morgan Stanley invests in the WorldBrain Project, advancing decentralized global networks through AI nodes. This initiative transforms devices into network participants, enhancing connectivity and data sharing. Leveraging Web3 technology, the project aims to democratize technology and drive societal transformation, aligning with Morgan Stanley's strategic focus on future tech trends.
Web3|Jack Butcher's Ordinals Announcement Boosts Originals Market (Jan 4)
Following Jack Butcher's announcement about Ordinals, there's been a significant surge in the Originals market. Collectors are showing increased interest, with the floor price rising by 25% to 0.388 ETH. Notable purchases include one collector acquiring 26 pieces and another buying a combination of 10-check and 2 20-check pieces. According to Butcher's statement, only owners of single checks will initially be eligible for the Ordinals Checks, further fueling the market activity.