NFT Market Review: Here are the Big Improvements!

In the third week of 2022, too, there are plenty of action to review across the NFT landscape. It is quite difficult to follow the NFT realm where there are countless developments. For this reason cryptocoin.com We travel in the wonderful world of NFTs and bring important developments, NFTs, to your attention. Fresh developments in OpenSea, discussions around the new LookRare marketplace, a brand new list of major brands coming into circulation, and Wikipedia, new debates over whether NFTs are art… Now the details…

NFT news

OpenSea volumes continue to rocket, the platform has surpassed 1 million wallets. Each day in 2022 saw more daily ETH volume on OpenSea than any Q4 day in 2021. OpenSea exceeds previous ceilings and currently has over 1 million active user wallets. January is on track to become the biggest month ever for OpenSea.

New brand interaction: Gap, Crocs, Hennessy and Mercedes-Benz. This week, we covered a comprehensive report from ready-to-wear brand Gap detailing its first attempt at NFTs with Tezos. However, there is a growing list of new brands that are starting to hit the market every week. Recreational footwear company Crocs filed a trademark this week implying their first entry into NFTs. Meanwhile, cognac company Hennessy is teaming up with BlockBar to launch ‘Hennessy 8’, a specialty cognac and matching NFT priced at around a quarter of a million dollars. Mercedes-Benz is also working on a premium project and is curating custom G-Class NFTs with five different international artists that will debut on Nifty Gateway later this month.

The debate over whether Wikipedia and NFTs are art… “not art” for now. Wikipedia editors sat down this week for a roundtable discussion to assess whether some of the biggest NFT art sales would meet the “most expensive artworks by living artists” criteria, and it won’t be the last debate on whether NFTs are art.

Congressional candidates turn to NFTs for fundraising. Congress certainly isn’t ready to talk about NFTs, but that doesn’t stop candidates from using NFTs for fundraising. An Arizona islander recently raised more than half a million dollars in less than two days. Could such financing mechanisms lead to further regulation? We’ll see…

IRL NFT

British department store Selfridges will ostensibly launch the first “over-the-counter NFTs”. Beginning later this month, the store’s flagship location in London will launch approximately 1,800 NFTs ranging in price from $2,700 to $137,000 as part of an exhibit titled “Universe.” The exhibition will also feature rare physical pieces by artist Victor Vasarely and include NFTs celebrating legendary fashion designer Paco Rabanne.

This is where LookRare comes into play. LookRare, the new NFT marketplace, went live this week and has been a hot topic of conversation across the NFT community as many artists and collectors have expressed frustration with OpenSea’s lack of growth, continued centralization, and more. According to some reports, the daily volume of LookRare is fast approaching $500 million. LookRare offers LOOKS, a native platform token that can be staked on the platform.

Tarantino and Miramax continue to fight over Pulp Fiction’ NFTs. More than 75 days have passed since we first covered the story of legendary director and writer Quentin Tarantino’s NFT initiative, and in less than 3 months, the projects sparked a controversy. Now less than 48 hours later, it looks like Tarantino will release NFTs despite Miramax’s withdrawal.

Our country’s first physical NFT exhibition, “NFT.İST: ÖTE”, was unveiled on 14 January. The exhibition, which will remain open for about a week, is opened in the CoBAC Workspace building in Eminönü and is free for those who are interested. In the exhibition, the discussion of Blockchain and Metaverse developments from a postmodern perspective is presented to the attention of art lovers. The list of artists whose works are in the NFT exhibition is as follows: Deniz Tölegen, Kerim Safa, Zirowun, Ali Özdaş, Abdurrahman Akkuş, İdil Dursun, Süleyman Yılmaz, Kadir Cive, Alp Yüksel, Berk Tarakçıoğlu, Seda Türeç, Fuat Değirmenci, Balkan Karışman, Ahmet Said Kaplan , Sami Sipahioğlu, Burka Bayram, sl0th and Herzlich. The following names take place as speakers in the exhibition: Robin Yayla, Bager Akbay, Aybars Dorman, Celil Öztürk, Doruk İşmen, İbrahim Enes Özkan, Enes Niş, Onur Yüksektepeli (Artkolik), Kemal Kumkumoğlu, Ceylan Arslan Köse, Hakan Ateşler (Uzmancoin), Burak Köse (Uzmancoin), Babylons, NFT Library.

Konami earned $162k from its NFT collection

Konami, the publisher company of world-famous games, presented its Castlevania-themed NFT collection to its enthusiasts on January 14th. Selling 14 NFT images and videos through Opensea, the company has earned more than $160,000 in revenue. Among the items sold, the digital map of Dracula’s Castle was bought for $26,000. According to the information received, the entire collection was sold out on January 15. It looks like Konami will make more money from NFTs in the future, as the firm could earn a royalty of up to 10% each time its NFTs are sold. The company also states that the NFT it sells does not guarantee what will happen in the future:

Konami will be solely responsible for ensuring the use of NFT and buyer benefits for NFT and will not make any warranties for NFT itself.

Streaming platform Hulu is starting its metaverse and NFT work. The company’s job posting reveals that the company has a market interest in crypto. Through the ad, the company announced that it is seeking people with a background in the metaverse and/or crypto and NFT platforms to target “publishers of tomorrow.” The company describes crypto and the metaverse as an emerging market. Disney, the parent company of Hulu, has also included similar expansions regarding the metaverse and NFT in the past period. Disney’s entry into the crypto industry began in November.

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