Home CryptocurrencyBitcoin Trump’s NFTs Go Ordinal, Zuck’s Metaverse Is a ‘Decade’ Away, and More

Trump’s NFTs Go Ordinal, Zuck’s Metaverse Is a ‘Decade’ Away, and More

by SuperiorInvest

Trump hangs Ordinals to sell more Mugshot NFTs

Donald Trump is banking on Bitcoin Ordinals to boost sales of his controversial “Mugshot Edition” non-fungible tokens (NFT).

The team behind the former US president’s NFT collection has announced that any user who has purchased 100 or more police editions of the Trump Digital Trading Cards NFTs will now receive a “One-of-One” trading card like Bitcoin Ordinal .

According to a January 18 less $9,900 total.

Trump’s “Mugshot” collection launched in December on the Polygon (MATIC) network. Mugshot NFTs can be purchased with a credit card or natively with Wrapped Ether (WETH).

Notably, Mugshot NFTs and Ordinals will not be commercially available until December 2024. The project’s official X account said this was to discourage their use as “investment vehicles” and stated that the new NFTs were for “enjoyment only.” individual”.

Pudgy Penguins record new all-time record

The Pudgy Penguins NFT collection hit a massive new all-time high on January 17, reaching a maximum low price of 19.05 ETH, equivalent to $47,000.

Penguins rose from 10.78 ETH to 17.8 ETH in just seven days, one of the only NFT collections in the broader market to make such a significant move. It comes as other key collections, including Bored Ape Yacht Club, continue to post losses for their holders.

The minimum price for Pudgy Penguins increased dramatically between January 13th and January 19th. Source: NFT Floor

Much of the project’s continued growth, despite facing obstacles for most of last year, is credited to the collection’s owner, Luca Netz, who purchased the project in April 2022.

Netz has taken a unique approach to building the project by creating external income streams from plush sales and growing the project’s Instagram page, which primarily focuses on mental health awareness.

NFT Trading Volumes Drop Nearly $15 Billion in 2023: CoinGecko

NFTs on the top ten blockchain networks generated a total of $11.3 billion in trading volume, a huge total decline of $14.5 billion compared to 2022, according to a new report from CoinGecko.

In a January 17 report analyzing total activity in the cryptocurrency industry, CoinGecko shared that NFT trading volumes increased throughout 2023.

NFT trading volumes skyrocket in 2023. Source: CoinGecko

After seeing a big rally in February, activity fell to a yearly low in September, but saw a rapid resurgence in the latest quarter, largely thanks to elevated interest in Bitcoin Ordinals.

While Ethereum remained the preferred network for NFT traders (capturing 72.3% of annual volume), Bitcoin surpassed Ethereum in December, with $808.0 million in trading volume.

Mark Zuckerberg’s metaverse is still a ‘decade’ away

Mark Zuckberg’s Meta has no plans to stop investing in the metaverse even though it could take more than ten years to come to fruition, says a Meta executive.

Speaking at the World Economic Forum on January 17, Meta’s global business head Nicola Mendelsohn said it may take a “good decade” to fully realize the company’s vision of an expansive metaverse.

“There was a lot of [metaverse] hype a couple of years ago, and we were always cautious here, telling people that we still see that it’s going to take a good decade to get to that fully realized vision, so we still see that we’re on that journey. “

Mark Zuckerberg made a similar comment in April 2022, saying that it could take more than ten years for his metaverse idea to be adopted by mainstream society.

Mendelsohn said that Meta’s “realized vision” of the metaverse is still a “good decade” away. Source: World Economic Forum

Meta has burned more than $47 billion through Reality Labs, the division that houses the company’s virtual reality and metaverse operations, since 2019, according to figures reported by Business Insider.

In other news

Former OpenSea product manager Nathaniel Chastain has appealed his conviction for wire fraud and money laundering related to insider trading. Chastain’s legal team argued that he was entitled to an acquittal because the US government failed to prove that NFT-related information on OpenSea qualified as property.

Elon Musk caused a stir among NFT enthusiasts when he removed support for NFT profile pictures on X. The social media platform introduced the feature on January 20, 2022, allowing paid subscribers to link their NFTs to their profile pictures Twitter, changing your profile picture. in a hexagon to show that it was an NFT.

‘It’s painful to think about’: NFT creator Nate Alex on selling 70 CryptoPunks too soon

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