In this week’s newsletter, read about Ethereum nonfungible token (NFT) royalties hitting their lowest point in two years. Check out Bitcoin Ordinals trading volume, which hit $210 million in the second quarter of 2023, and how a decentralized finance (DeFi) borrower used an NFT representing a physical luxury watch to take out a loan. In other news, find out why Animoca Brands co-founder Yat Siu is still bullish on blockchain games, and don’t forget this week’s Nifty News, featuring a Sega executive’s opinion on play-to-earn gaming.
Ethereum NFT royalties hit 2-year low as Bored Ape floor price falls below 30 ETH
A report from blockchain analytics firm Nansen showed that royalties earned by NFT projects have reached a 2-year low. The dip may be fueled by lower NFT floor prices of popular collections like the Bored Ape Yacht Club and the Azuki Elementals launch controversy.
According to the report, NFT marketplaces OpenSea and Blur are going head-to-head with each other in terms of royalties paid. However, when the trading volume surges, Blur often takes the lead.
Bitcoin Ordinals volume hits $210 million in Q2 — DappRadar
The creation of the Bitcoin Ordinals protocol on the Bitcoin blockchain has resulted in a significant trading volume exceeding $210 million, according to DappRadar. The data highlights the surging popularity of Bitcoin Ordinals, leading to a remarkable increase in trading volume throughout the second quarter of 2023.
Starting at $7.18 million in the first quarter, the trading volume soared to $210.7 million by the end of June, representing a staggering 2834% quarterly growth. Additionally, the report reveals that over 550,000 Ordinals trades took place in Q2, involving approximately 150,000 unique traders, further contributing to the remarkable trading volume surge.
DeFi borrower uses luxury watch-backed NFT as collateral for a loan
A DeFi borrower has used a Patek Phillipe luxury watch to collateralize a $35,000 loan. The watch was sent to an escrow firm…