Blockchain News

Nifty News: Yuga Labs jumps on Ordinals hype, Dookey Dash key sells for 1,000 ETH and more…

Yuga Labs, inventors of Bored Ape Yacht Club (BAYC), released “TwelveFold,” a Bitcoin NFT collection.Yuga Labs revealed 300 tokenized computer-generated artworks for the TwelveFold collection on Twitter on Feb. 28.Yuga Labs discussed the collection’s math, time, and Bitcoin blockchain idea in a blog post.

“TwelveFold is a base 12 art system centred on a 12×12 grid, a visual metaphor for the geography of data on the Bitcoin blockchain,” the article states. “Satoshis are the smallest individually identifiable units of a Bitcoin. Ordinal Theory may find an inscribed satoshi by tracing its minting time.Our collection addresses time, mathematics, and variety, it said.

Yuga Labs released a collection due to the excitement over Bitcoin NFTs, or Ordinals.

“Entering the Ordinals Discord a month ago was like seeing the 2017 Ethereum NFT ecosystem. “Yuga loves this intensity and enthusiasm,” the company said.

Google Trend data shows NFT search traffic has dropped to levels not seen since early 2021, before the NFT bubble, indicating nonfungible token enthusiasm may be dwindling.

February NFT trade volume says otherwise.

Google Trends rates search engine phrases from 0 to 100. “NFTs” scored seven out of 100 between Feb. 19 and 25. From the all-time high of 100 between Jan. 23 and 29, 2022, it has fallen sharply.

CryptoSlam reports $997.14 million in worldwide NFT sales, up from $1 billion in January.

The NFT market returns to June 2022’s $982 million revenues before falling to $460 million in October 2022.Blur, a trader-friendly marketplace, helped boost sales volume lately.The Golden Key NFT winner sold the token for 1,000 Ether, or $1.63 million.

After scoring 928,522 points in Yuga Labs’ Dookey Dash competition, Twitch streamer Kyle Jackson (Mongraal) earned the key on Feb. 16.Mongraal sold the key to BAYC NFT hodler and Upstate Shredding CEO Adam Weitsman on Feb. 27.

The Golden Key will unleash a Yuga Laboratories surprise, but specifics are unknown.

Polygon Foundation, the non-profit behind Ethereum-layer 2 scaling network Polygon, has teamed with Lotte Group to host its NFT initiatives.

Lotte’s marketing and NFT center, Daehong Communications, announced on February 27 that Polygon would host Lotte’s avatar-based NFT project BellyGom from Klatyn.

BellyGom season 2 will provide hodlers Lotte coupons and hotel vouchers. The announcement only hinted to future advantages. Lotte operates almost 100 businesses in fast food, sweets, electronics, and lodging. The business has around $15 billion in assets as of September 2022.

Lotte plans to grow its Web3 activities with Polygon to reach a worldwide audience and create “a new NFT business model rather than merely issuing NFTs.”

Polygon’s collaboration with Startbucks, Adidas, Adobe, and Prada grows. Metajuice found that almost three out of four NFT collectors on its site buy NFTs for prestige, distinctiveness, and beauty.

Nonetheless, 13% of survey respondents reported purchasing NFTs to resale.

The “Japan Metaverse Economic Zone” was established on February 27 by a consortium of prominent Japanese IT businesses. The agreement creates the Japan Metaverse Economic Zone and “Ryugukoku,” an open metaverse infrastructure that will spur metaverse development.


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