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Hey there Rocketeer!

Welcome to another week in the world of NFTs! We've got a mix of news, from legal battles to healthcare innovation and market trends. There's something for everyone, whether you're a seasoned investor or just getting started in the NFT world. So let's dive in and see what's happening!

This Week’s Highlights

• Legal Battle: NFT holders are suing Eden Gallery and Gal Yosef over unfulfilled promises, highlighting the importance of due diligence in NFT investments. 

• Universal Health Token SOLD OUT: Healthcare app UHT's health-focused NFTs sell out quickly, demonstrating growing interest in NFT-based healthcare initiatives. 

• This Week’s NFT Sales: Bitcoin NFTs continue to thrive despite market challenges, indicating a growing preference for non-Ethereum blockchain NFTs. Moreover, Bored Ape Yacht Club still scored big!

• Regulations for crypto casinos: Crypto casinos face challenges competing with regulated ones due to regulatory uncertainties and potential risks. 

• Market Prediction: Bitcoin's price surges amid increased demand, suggesting a potential upward trend in the coming months.

NFT holders sue Eden Gallery and Gal Yosef over unfulfilled promises

A group of NFT holders are suing Eden Gallery and artist Gal Yosef for allegedly failing to deliver on the perks promised when they sold their NFT collection. This lawsuit highlights the importance of doing your research before investing in NFTs. 

Healthcare app sells out health-focused NFTs in seconds!

The Universal Health Token (UHT) healthcare app has successfully minted and sold out its “Pillars of Health” NFTs. These NFTs grant holders VIP access to future events and airdrops, and the app itself aims to reward users for healthy behaviors. This is an interesting example of how NFTs can be used in the healthcare industry.

$1.43M Bored Ape Sale Highlights NFT Market Despite 8.78% Decline

The overall NFT market is down, but Bitcoin-based NFTs are experiencing significant growth. This suggests that investors are increasingly interested in NFTs that are not based on the Ethereum blockchain.

Some high-value NFT sales continued to grab attention. Leading the pace was Bored Ape Yacht Club (BAYC), whose NFT #7940 became the week’s most expensive NFT sale barely 24 hours ago when it sold for $1.43 million. BAYC’s strong brand and reputation in the NFT industry are reflected in its continued ability to draw sizable funds. Other notable sales included an Axie Infinity NFT from the Ronin blockchain, which sold for $90,107, and an Ordinal Maxi Biz digital collectible, which fetched $83,627. These high-value sales are a reminder that despite market-wide struggles, certain collections still capture significant interest from collectors.

Can crypto casinos ever compete with regulated ones? 

Crypto casinos offer a number of advantages over traditional casinos, such as safe payment methods and global accessibility. However, they are often unregulated, which can be a major drawback.

Bitcoin demand surges after months of muted activity

Bitcoin’s price has risen 11% in the past week, due to increased demand. Some analysts predict that Bitcoin’s price may reach $70,000 by October. 

In the US, spot exchange-traded funds (ETFs) have been a major catalyst for Bitcoin's price surge. These ETFs have been net buyers, consistently adding to their Bitcoin holdings. As a result, Bitcoin's price has reached new all-time highs.

Recent data shows that U.S. Bitcoin ETFs saw significant inflows, with BlackRock's IBIT receiving the most. This indicates continued strong institutional interest in Bitcoin, suggesting that the upward trend may persist.

Weekly Roundup (October 14 - 18, 2024)

NFT Guides For Everyone!

Are Investors Sticking With NFTs?

A recent survey shows that despite the market downturn, two-thirds of investors are still optimistic about NFTs. This suggests that many people still believe in the long-term potential of NFTs.

OKX Wallet: Your One-Stop Shop for Crypto

Looking for a secure and easy-to-use wallet? Check out OKX Wallet. It supports over 100 blockchains and allows you to buy, sell, and swap cryptocurrencies. Plus, it's non-custodial, so you have complete control over your funds.

Coinbase vs. Binance: Which Exchange is Right for You? 

Can't decide between Coinbase and Binance? Our comparison article breaks down the pros and cons of each exchange to help you make an informed choice. Coinbase is generally considered more user-friendly and has stronger security features, while Binance offers a wider range of cryptocurrencies and lower fees.

What is an NFT Marketplace? 

Confused about NFTs? Our beginner's guide explains what NFTs are and how NFT marketplaces work. NFTs are unique digital assets that represent ownership of something, such as a piece of art or a collectible. NFT marketplaces are online platforms where people can buy and sell NFTs. Some popular NFT marketplaces include OpenSea, Rarible, and Binance NFT.

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