This week flew past so quickly, didn’t it? It really do be like that sometimes when you’re in the world of Web 3.
An NFT marketplace outperformed after launch day while crypto investors heaved a sigh of relief at Bitcoin’s value stabilising following last week’s price dip. The NFT space just got wilder with the arrival of the Associated Press news agency and an eccentric Indonesian student making bank from his selfie NFTs.
Hold your breath as we take a deeper dive into this week’s top stories:
LooksRare sells $100 million+ in NFTs a day after launch
Has the OpenSea NFT marketplace found its real contender? LooksRare reportedly earned $105 million in trading volume and $2 million in platform fees a day after launch. It’s an achievement many other marketplaces would dream of. But some suspect other factors at play like wash trading, which usually happens when a person sells and buys his or her own NFTs to create an illusion of demand, thereby manipulating the market.
The Associated Press launches NFT marketplace for photojournalism
The Associated Press is entering a new era of journalism. The 176-year-old news agency announced this week it was launching its own NFT marketplace dedicated to award-winning and historical works of its photojournalists, with the first collection due to drop on Jan. 31.
The marketplace will be built on the Polygon blockchain and is set to also release virtual tokens.
Bitcoin stabilises above $40,000
All eyes were on Bitcoin in the past week as the leading cryptocurrency briefly dipped below $40,000, hitting a four-month low. The value then bounced back to above $40,000 as selling pressure wanes and investors begin to hodl again.
Indonesian’s selfie NFTs grew 800% in value
Forget ape avatars, selfies are raking in big bucks for one Indonesian who photographed himself 933 times and put all of the photos up on OpenSea.
The “Ghozali Everyday” collection, owned by someone said to be a 22-year-old student named Ghozali, hit nearly US$1 million in trading volume in 24 hours – equivalent to 876.87% – and rose to #36 on the platform’s ranking.
That’s all for this week, folks! Have a good weekend.
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