Magic Eden x Polygon, Mattel Marketplace, The Sandbox Sale, & GTA's NFT Ban
Yesterday’s Market Moves
BTC
S&P
WTI
21,047.60 |
+ 1.56%
3,900.11 |
- 0.30%
111.29 |
+ 1.57%
In the midst of bearish sentiments in the wider markets, NFTs are bucking this trend! There are new big winners and losers in the market, while there is yet to be a consensus on the issue of royalties.
Read the full issue to find out
MARKETS

In a down week for the NFT market, the Flow, Wax, and Palm blockchains came in strongest with transaction volume increases of 24%, 29% and 128%, respectively. Each chain is dominated by recognizable IRL brands such as NBA TopShot, NFL ALL DAY, and Funko.

Yesterday, Rarible saw over $139K in average volume per active address, the highest rate since April 2022, while X2Y2 reached $142K. Unsurprisingly, 82% of the total 24H NFT sales happened on OpenSea, with 58% of the total ETH volume. Coinbase NFT generated 0.18% of sales and 0.01% of ETH volume.

VALHALLA is the leading collection, currently with over 2,850 ETH (~$3.3M) in volume, 23.39% of the NFT market volume in the last 24 hours. Its recent gains align with the rise, fall, and resurgence of Gamefi, as detailed in this report by XYZ2E. This year, web3 gaming projects have already received more than 9% of total investment in the crypto industry and look set to break new grounds.

Cardano NFT collection Clay Nation got increased attention after the release of a music video dedicated to it by Champ Medici featuring his father, Snoop Dogg and Cardano founder Charles Hoskinson. Since the video release, its trading volume has exceeded 100,000 ADA, adding to an all-time trading volume of over 30 million ADA!

In Other News,
No items found.
Headline
Magic Eden to support polygon-based NFTs

Magic Eden has announced that it will add support for NFT assets minted on Polygon, a major Ethereum sidechain scaling network.

According to Zhuoxun Yin - COO and Co-founder of Magic Eden, Polygon was picked for two main reasons - growing adoption by major Web2 brands, and the potential for large-scale Web3 gaming via the platform.

Magic Eden sees Polygon as a major up-and-coming platform for NFT-powered video games. Metaverse games like Decentraland and The Sandbox use Polygon for some NFT assets, plus an array of upcoming projects are being built on the platform. Gaming is a major focus for Magic Eden, and Yin said the company is betting on Polygon driving that space.

In other headlines,

  • NFT Utility Platform Tropee Raises €5M in Seed Round Led by Tioga Capital. Read More
  • Saudi Arabia’s NFT Collection Soars After Unexpected Soccer Win Against Argentina. Read More
  • OKX Introduces World Cup NFTs With Huge Prizes. Read More
  • Givenchy drops “phygital” NFTs. Read More
In Other News,
No items found.
Marketplace
Mattel launches new NFT marketplace

Toy giant Mattel is launching a new NFT marketplace, as it translates its iconic IP into digital art to expand its digital collectibles business. The new platform,-  Mattel Creations, will be launched on the Flow blockchain this week.

On Mattel’s new NFT marketplace, fans will be able to buy digital collectibles tied to Mattel’s classic Barbie and Hot Wheels IP. The first collection on the marketplace will be the latest set in Hot Wheels NFT Garage Series.The company’s previous Hot Wheels NFTs, priced at $25 per pack, and including a voucher for a physical die-cast model, were sold out. Previous releases of the series on the WAX blockchain have been trading for thousands of dollars, according to WAX Market Cap.Speaking on the launch, Ron Friedman - the VP of Mattel Future Lab stated “Our Hot Wheels digital collectibles, which are different from most other projects in the space, are built on solid collection dynamics,” Citing the example of IRL Redemption, he added that this will offer incredible value for the vibrant collector community.

In other news,

  • Bybit NFT Marketplace Sees Scorching Success. Read More
  • X2Y2 rolls back optional royalties. Read More
  • Why OpenSea Is Sticking With NFT Creator Royalties. Read More
In Other News,
No items found.
Metaverse
The Sandbox to launch land sale with Playboy, Tony Hawk, & Snoop Dogg

The Sandbox, an Ethereum-based metaverse game, is kicking off its three-part LAND sale on Thursday. They will be collaborating with popular brands like Tony Hawk, Snoop Dog, and Playboy, among others.

The upcoming sale will auction 1,967 LANDs—50 estates, 695 regular LANDs, 134 premium LANDs, and 19 1-of-1 pieces of LAND  The standard and premium LAND sales will be allocated via a blind ballot system. An estate is several LANDs that have been connected to make a larger parcel in the game.

The sale begins on November 24 with an inaugural wave titled California Dreamin’ representing “California-themed brands such as Playboy and The Marathon.” It will progress through two more thematic launches until completion in early 2023.

In other news,

  • Chinese firms bet on “Metaverse-like” experiences for the FIFA World Cup. Read More
  • AIR MILES, Tokens.com and Metaverse Group Launch Metaverse Loyalty Program for Brands. Read More
  • Meta Integrates PTP Across Its Data Centres to Bring Precision Timing to the Metaverse. Read More
  • The Home Depot Files 24 Web3 Trademarks for its Name, Logo, and Brands. Read More
In Other News,
No items found.
Gaming
Rockstar Games bans NFTs from Grand Theft Auto fan servers

Last week, Rockstar Games updated its website stating that fan-operated servers for Grand Theft Auto V can no longer utilize cryptocurrencies or crypto assets, specifically NFTs.

Fans have been operating so-called “role-playing servers” for Grand Theft Auto V for years, and they’re popular on streaming platforms such as Twitch. In role-playing servers, which require a fan-made modification of the PC game, players take the role of typically non-playable characters (NPCs) in the world and interact together online.

Some of those servers implement NFTs and tokens to give players ownership of unique assets or to reward regular players.. In some examples, Grand Theft Auto V servers have offered special cars and weapons represented as NFT assets.

In other news,

  • Thirdverse Secures $15M to Build Web3 and VR Games Studio. Read More
  • Kellogg's partners with Mythical Games. Read More
  • Web3 Identity Startup Carv Raises $4M at $40M Valuation. Read More
In Other News,
No items found.
Quiz Answer
Read more like this
Pearpop's $300M Round, Game7's $100m Grant, Sotheby's Metaversity
Published:
Friday
,
30
/
11
/
2022
The NFT space is proving to be a resilient shining light amidst the larger market’s turmoil. 💪💯 Today’s issue features bullish moves from a web3 social media platform, a web3 gaming accelerator, a famed art house and a leading NFT studio!
Read More
Nike's Swoosh, Royal Family's Metaverse, Ronaldo's NFTs, Playstation
Published:
Friday
,
16
/
11
/
2022
NFT degens remain diamond hands, even in the midst of crisis. Thankfully, this has proven to be true in the post-FTX market! This week, we have huge brands such as the Duke & Duchess of Essex, Cristiano Ronaldo, and Nike showing how bullish they are on this space!
Read More
FTX's Gaming & NFT Plays, OpenSea's Royalty Tool, Microsoft's Metaverse Play
Published:
Friday
,
09
/
11
/
2022
Amidst a dramatic turn of events concerning the world’s largest crypto exchanges, NFTs are still holding their own…for now. 😏 We take a closer look at what this means for FTX’s gaming and NFT moves, while unpacking other major developments in the space!
Read More
Pearpop's $300M Round, Game7's $100m Grant, Sotheby's Metaversity
Published:
Friday
,
30
/
11
/
2022
The NFT space is proving to be a resilient shining light amidst the larger market’s turmoil. 💪💯 Today’s issue features bullish moves from a web3 social media platform, a web3 gaming accelerator, a famed art house and a leading NFT studio!
Read More
Nike's Swoosh, Royal Family's Metaverse, Ronaldo's NFTs, Playstation
Published:
Friday
,
16
/
11
/
2022
NFT degens remain diamond hands, even in the midst of crisis. Thankfully, this has proven to be true in the post-FTX market! This week, we have huge brands such as the Duke & Duchess of Essex, Cristiano Ronaldo, and Nike showing how bullish they are on this space!
Read More
Pearpop's $300M Round, Game7's $100m Grant, Sotheby's Metaversity
Published:
Friday
,
30
/
11
/
2022
The NFT space is proving to be a resilient shining light amidst the larger market’s turmoil. 💪💯 Today’s issue features bullish moves from a web3 social media platform, a web3 gaming accelerator, a famed art house and a leading NFT studio!
Read More
Nike's Swoosh, Royal Family's Metaverse, Ronaldo's NFTs, Playstation
Published:
Friday
,
16
/
11
/
2022
NFT degens remain diamond hands, even in the midst of crisis. Thankfully, this has proven to be true in the post-FTX market! This week, we have huge brands such as the Duke & Duchess of Essex, Cristiano Ronaldo, and Nike showing how bullish they are on this space!
Read More
FTX's Gaming & NFT Plays, OpenSea's Royalty Tool, Microsoft's Metaverse Play
Published:
Friday
,
09
/
11
/
2022
Amidst a dramatic turn of events concerning the world’s largest crypto exchanges, NFTs are still holding their own…for now. 😏 We take a closer look at what this means for FTX’s gaming and NFT moves, while unpacking other major developments in the space!
Read More