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🌙 Market Fluctuations and Attack on Titan in the Metaverse!

Web3 Boom, Market Fluctuations, and Attack on Titan in the Metaverse!

Metaverse | Digital Collectibles | Digital Fashion | AI | Blockchain Gaming

GM rocketeer,

Welcome to another exciting week at NFTevening, your one-stop shop for all things NFTs! Buckle up as we dive into a mix of positive and thought-provoking news shaking the NFT space.

This Week’s Highlights

  • Web3 Growth: Web3 users surged by a whopping 40% in Q2 2024, reaching 10 million daily active wallets!

  • Gaming Giant Enters the Fray: Ubisoft unveils their NFT strategy through a partnership with Champions Tactics.

  • Market on the Rise (Maybe)? NFT sales see a promising 7% jump in the past week. Is this a sign of recovery?

  • Attack on Titan Invades the Metaverse! Get ready to battle titans in The Sandbox as the iconic anime series enters the metaverse.

  • A Reality Check: Despite the weekly surge, June 2024 saw a significant 42% decline in overall NFT sales.

A recent report reveals a staggering 40% surge in Web3 users during Q2 2024, reaching a milestone of 10 million daily active wallets. This explosive growth signifies the increasing adoption of blockchain technology and the potential for a thriving NFT ecosystem.

The social and DeFi sectors saw the biggest jumps in Q2:

  • Social: Daily active wallets surged 66% due to popular apps like Fantasy.top and UXLINK.

  • DeFi: Decentralized exchanges like Uniswap (80% growth) and Raydium (134% growth) saw a rise, likely fueled by meme coin traders.

Blockchain gaming grew its user base, but its market share declined.

The NFT market saw continued growth with $4 billion in trading and 14.9 million deals. Magic Eden gained market share (up to 22%) from Blur (down to 31%), suggesting a shift in the NFT marketplace landscape.

DeFi saw mixed results in Q2. While user numbers grew, the total value locked in these applications actually decreased. Security breaches remain a concern, costing over $430 million and primarily targeting Ethereum and BNB Chain. A temporary spike in active wallets might be due to users chasing airdropped tokens, raising questions about long-term DeFi engagement.

Gaming giant Ubisoft is making waves with its foray into NFTs. We delve into the recently announced partnership with Champions Tactics, revealing their innovative approach to integrating NFTs within the game.

Hironobu Ueno, CEO of Double Jump.Tokyo, is thrilled about their partnership with Ubisoft. He sees it as a major accomplishment for his company and an opportunity to explore the potential of web3 and digital ownership in gaming alongside a prominent industry leader. Ueno believes this collaboration will allow them to create groundbreaking games and push the boundaries of web3 gaming technology on a global scale.

Positive signs emerge! The NFT market seems to be experiencing a resurgence, with sales jumping 7% in the past week. Could this be a sign of a long-awaited recovery?

Ethereum, which hosts numerous high-value collections, continues to be the top blockchain network for NFT transactions. Sales of NFTs based on Ethereum reached $36 million last week, up 15% from the week before and solidifying its leadership position in the industry.

Calling all anime fans! The legendary Attack on Titan is making its grand entrance into The Sandbox metaverse. Get ready for epic battles and a whole new way to experience this iconic series.

The IP owner, Kodansha Ltd., gave permission to the Sandbox and the businesses Minto and Copro Corp. Together, they will create NFTs and grow the themed area. The franchise’s postapocalyptic universe will come to life in the new interactive format.

In June 2024, the NFT market saw a significant decline in activity. Sales volume dropped sharply by 42.04% in the last 30 days, totaling $466,832,260.

While it's exciting to see a week-on-week increase, it's important to acknowledge the broader market picture. A separate report indicates a 42% decline in NFT sales for June 2024. This highlights the ongoing volatility within the space.

Moreover, Avalanche (AVAX) encountered significant declines in key metrics during Q2 2024, as reported by Coin98 Analytics. Fee and revenue figures totaled $3.5 million, reflecting a worrisome 22% decrease from the previous year. This decline highlights challenges in sustaining revenue amidst volatile market conditions.

Weekly Roundup (July 8 - July 14, 2024)

🌚 NFTevening’s Guides For Everyone!

This week, we've compiled two in-depth guides packed with valuable information to help you achieve your NFT goals:

  • Thinking of launching a Solana NFT collection? Our comprehensive guide walks you through every step of the process, from defining your supply to promoting your project.

  • Unsure about diving into NFT investing? We weigh the pros and cons, helping you make an informed decision about whether NFTs are right for your portfolio.

The NFT world moves at breakneck speed, and so do we!

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