On this week’s e-newsletter, examine how non-fungible token (NFT) gross sales have continued their upward momentum, and discover out why Sky Mavis, the corporate behind Axie Infinity, laid off 21% of its workforce. In different information, crypto trade Kraken is winding down its NFT market and FIFA and Legendary Video games will collaborate on a blockchain sport.
NFTs report $158 million weekly gross sales quantity, led by Ethereum, Bitcoin
NFTs continued to point out robust weekly gross sales, recording $158 million in Nov. 18–24. Whereas the info exhibits a 12.7% lower in comparison with the earlier week, the quantity remained above its ranges originally of November. From Nov. 4–10, the weekly gross sales quantity was solely $93 million.
NFTs are additionally on observe to finish November on a powerful observe. In October, NFTs recorded $356 million in gross sales. In the meantime, November had already recorded a quantity of greater than $400 million.
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Sky Mavis lays off 21% of workforce, plans new Axie Infinity sport
Axie Infinity creator Sky Mavis laid off 21% of its employees because it plans to allocate its assets to a brand new Axie Infinity sport and different initiatives. Sky Mavis co-founder and CEO Trung Nguyen mentioned that the choice to put off staff was a shift in priorities.
Axie Infinity NFTs, which had a flooring value above $700 in 2022, decreased in worth to a flooring value of $0.33 on Nov. 25, reflecting declining curiosity in NFTs. Nonetheless, Nguyen instructed Cointelegraph that lowering the workforce was not tied to NFT market developments.
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Kraken winds down NFT market
Crypto trade Kraken will provoke a three-month withdrawal interval for its NFT market earlier than fully shutting it down. An e mail seen by Cointelegraph means that {the marketplace} will begin a withdrawal-only mode on Nov. 27.
In a press release, a Kraken spokesperson mentioned that the choice to shut their NFT platform was to shift assets into new merchandise. The spokesperson added that they’ve knowledgeable their clients of the modifications and that the group will assist customers as they transfer their NFTs to their wallets.
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FIFA, Legendary Video games collaborate to launch blockchain sport FIFA Rivals
Web3 gaming studio Legendary Video games and Federation Internationale de Soccer Affiliation (FIFA) introduced a partnership to launch a free-to-play soccer sport on iOS and Android. The sport will likely be known as “FIFA Rivals” and let players handle soccer golf equipment and compete in opposition to different gamers.
The Mythos Basis is tasked with constructing the sport’s crosschain infrastructure, creating an NFT economic system and supporting gaming guilds. Considered one of Legendary’s early initiatives was the NFT sport Blankos Block Celebration, which permits players to create and customise characters in an open-world sport setting.
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Thanks for studying this digest of the week’s most notable developments within the NFT house. Come once more subsequent Wednesday for extra reviews and insights into this actively evolving house.