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MATIC Rises With 100% Boost In Trading Volume As Polygon NFT Transactions Outshine Ethereum

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In January 2023, Polygon NFT transactions on OpenSea surpassed Ethereum NFT transactions for the second consecutive month, as per a report by NFT Gators on February 1st.

Despite a decrease in the average transaction fee, the NFT lending market saw record growth in monthly loan volume, the number of loans, and the number of participating lenders and borrowers.

The Rise of Polygon in the NFT Market

January saw the highest monthly count of Polygon NFT traders ever recorded, at 224,719. The Polygon PoS blockchain also experienced a daily average of 3,022,920 transactions during the month. On average, Polygon NFT traders traded 7 NFTs, surpassing the average number of trades made by Ethereum NFT traders. However, their spending was limited to just $69.

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Meanwhile, Ethereum NFTs on OpenSea recorded a trading volume of $444 million, attracting 319,641 traders who sold 1,132,681 NFTs. The average Ethereum NFT trader traded $1390 and 3.54 NFTs on average.

Additionally, in January, the NFT lending market saw a remarkable surge, with a total of 17.9K ETH, valued at around $28 million, borrowed through 4,399 loans. This resulted in record highs in the number of both borrowers and lenders, with 616 borrowers and 291 lenders, creating a ratio of 2.12 borrowers per lender.

However, the report also revealed that BendDAO emerged as the largest NFT lending protocol in January, with over $36 million borrowed, followed by NFTfi with $25 million, X2Y2 with $12 million, and Arcade with $7.8 million. 

The increase in loans resulted in a decrease in interest per loan, with lenders now paying $90 per loan. Wash trading among Ethereum NFTs in January was less than 0.6% of the total trade count.

The Rise of Polygon (MATIC) Price

The MATIC price has made a significant jump on its daily chart, rising nearly 12% after overcoming its immediate resistance at $1.20. Over the last week, the altcoin has seen impressive gains, soaring by nearly 22.31%.

MATICUSDT 2023 02 02 01 14 29
Source: Tradingview

CoinMarketcap’s data shows that MATIC is at a pivotal moment, with a potential for a significant boost in value if it can break through the next resistance level. 

The technical outlook remains favorable for the bulls, with MATIC currently trading at $1.22. The 24-hour trading volume has also seen a surge, jumping by 115%. 

Related Reading |  Filecoin (FIL) Offers New Opportunity To Buy In While Orbeon Protocol (ORBN) Price Increases Again

Ethereum Powers Premier League’s Teamup with Sorare For Digital Player Cards In Fantasy Sports

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The English Premier League has teamed up with blockchain-powered fantasy sports firm Sorare to mint Ethereum-based digital player cards, as per a January 31st report.

Sorare, known for its innovative use of Ethereum in fantasy sports and digital card trading, will bring the Premier League to the fingertips of football fans.

According to a Sorare spokesperson, the discussions between both of them had been ongoing for some time, leading to the four-year deal that was officially announced on January 30th. However, the value of the partnership remains undisclosed for contractual reasons.

Sorare’s partnership with the Premier League began in 2019 when it signed West Ham United as its first English club partner. The company made an upfront downpayment for licensing rights, with digital card sales resulting in a percentage split between both of them.

Sorare uses the Ethereum blockchain to mint digital cards of Premier League players, utilizing the ERC-721 token standard for its NFT player cards. Fans can collect, trade, and use these cards to play in Sorare’s free-to-play fantasy sports league.

Additionally, the Premier League digital cards will be available for purchase on Sorare before being traded on compatible marketplaces like OpenSea. Sorare remains a strong advocate for connecting fans, players, and organizations with blockchain technology.

Next Generation Sports Fandom with Ethereum

Sorare’s goal is to connect fans, players, and organizations with blockchain technology, using it as a means to enhance sports fandom and entertainment. 

For Sorare, this underlying technology is the means, not the ends, to connecting users with their favourite clubs, and we welcome it powering the next generation of sports fandom and entertainment.

According to the report, the Premier League digital cards will be available for purchase on Sorare before being open for trading on other NFT marketplaces.

The popularity of NFTs, including digital trading cards and sports highlights, has risen in recent years, with the explosion of NBA Top Shot in 2021. 

However, the football world is increasingly discovering the potential of blockchain-based platforms. Sorare is proud to lead the way in this exciting new chapter of sports and technology.

Related Reading | XRP: Web3 Domain Provider Unstoppable Domain Adds Support For XRP Toolkit

Ganja Guruz NFTs: The Next Big Thing in the World of NFTs?

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Over the last few months, the explosion of growth within the NFT industry has paved the way for numerous exciting new projects to come to life.

Many of these new NFTs offer compelling investment opportunities for savvy investors who have the foresight to identify them early.

This guide will discuss BudBlockz’s Ganja Guruz NFTs, already described by many analysts as the next big thing in the world of NFTs.

This new NFT project provides exciting investment opportunities for investors of all experience levels. Let’s explore this project so that you can gain a deeper understanding of the best NFT to buy this year.

>>>>>>> BUY BUDBLOCKZ TOKEN NOW <<<<<<<

Ganja Guruz NFTs

BudBlockz is an upcoming cannabis marketplace that will use NFTs known as Ganja Guruz to reward users and introduce them to investment opportunities for fractional ownership in businesses such as farms and dispensaries.

Ganja Guruz is a hugely promising NFT project with massive potential consisting of 10,000 unique NFTs, which will be available on platforms such as OpenSea.

The BudBlockz NFTs collection is a diverse and incredibly feature-rich NFT project that could reshape the sector. Ganja Guruz NFTs holders can access special discounts and members-only features in BudBlockz’s marketplace.

As we briefly discussed, the new BudBlockz NFT project features 10,000 different NFTs packed full of utility and unique features.

The BudBlockz ecosystem includes an NFT marketplace, a staking platform, a series of P2E games, a beautifully designed Metaverse, and a decentralized exchange.

With all of that packed into a single new NFT project, BudBlockz has something for everyone and seems primed to dominate the NFT space.

At the center of the BudBlockz ecosystem is its native token, $BLUNT. With a limited supply of 420 million tokens, $BLUNT is used to power all things BudBlockz.

The project’s native token is used to reward skilled players and earn income by staking, buying Ganja Guruz NFTs, and more.

The BudBlockz NFTs collection is one of the newer NFT projects you really do not want to miss. With such a diverse range of features and an ecosystem packed with synergy, Ganja Guruz NFTs could be the best-performing NFT project of the year.

There is a massive demand for NFT-based cannabis platforms, and with all the additional features packed into Ganja Guruz NFTs, it is only logical this project could attract an enormous user base in record time.

The BudBlockz (BLUNT) fourth presale stage has already started, presenting a massive opportunity for anyone looking for the next big NFT project to invest in.

BudBlockz (BLUNT) is one of the better investments because it provides investors with several avenues to earn rewards – and with the token still in presale, the best time to buy.

>>>>>>> BUY BUDBLOCKZ TOKEN NOW <<<<<<<

Use promocode: BUYBLUNT for a 20% bonus on your purchase. Valid until January 31st.

Purchase or learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

Mutant Ape Planet NFT Creator Detained For Conning Investors With $3M

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The developer of the popular Ethereum NFT collection- Mutant Ape Planet was taken into custody in New York for allegedly pocketing investors’ money in a classic rug pull style.

As per the statement released to the media, a criminal complaint was filed against 24-year-old French citizen Aurelien Michel residing in the United Arab Emirates [UAE], for defrauding purchasers of “Mutant Ape Planet”, a type of digital asset, of more than $2.9 million in cryptocurrency. 

Michel was arrested at John F. Kennedy International Airport. His initial appearance is scheduled for this afternoon before United States Magistrate Judge James R. Cho. 

Digital assets known as Mutant Ape Planet were kept on the Ethereum blockchain. Each NFT issued by Mutant Ape Planet was distinct, freely transferable, and granted buyers sole ownership.

The unique digital collectibles were advertised with claims of special benefits that customers would get. These advantages included exclusive chances to make extra investments, giveaways, gifts, and other perks.

The complaint stated that although buyers sent their cryptocurrencies and received the NFT, their funds were instead transferred from the Mutant Ape Planet project to wallets under the defendant Aurelien Michel’s control.

Michel also reportedly admitted to “rug pull,” through social media but blamed the community of NFT purchasers for his actions, stating, “We never intended to rug but the community went way too toxic.”

In 2022. NFT was no longer the red hot item for the mainstream market as the hype had considerably cooled down but that didn’t prevent some of the so-called influencers and wealthy figures to fill up the space with horrid collections as well as even scamming users.

2022 Was Rifed With Celebrities Endorsing Horrid NFT Collections

The most infamous among them was none other than former US president Donald Trump’s Trump Digital Trading Cards

Despite being a vocal crypto-hater, Trump announced a shoddy and potentially plagiarized NFT project in December that consisted of 45,000 self-themed trading cards.

The Trump NFT initiative was considered successful regardless of whether investors who first purchased in are still in the black or not because it made roughly $4.5 million from the original sales and continues to receive a 10% creator fee on sales on secondary markets.

Another notable example is OnlyFans Model Vanessa Sierra, who was recently shown to have defrauded investors by withdrawing the 127 ether put in a phony NFT collection named SmolBoyz Land.

Solana’s Magic Eden To Refund Users After “Massive Exploit”

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Using suspicious photos in place of users’ NFTs, Solana’s top cross-chain NFT platform Magic Eden revealed on Twitter that one of the third-party picture service providers had been hijacked.

The announcement was made yesterday, in response to complaints from community members who said that during the course of the previous day, instead of the NFTs they attempted to see, they were seeing screenshots and stills from the television show “The Big Bang Theory” and risqué content.

The Solana NFT giant reportedly made an attempt to resolve the problem within an hour. Even still, some of the graphic pictures persisted.

The Magic Eden team, in a statement, encouraged consumers to refresh their web browsers in a message reassuring them that their NFTs were unaffected.

The statement read,

“Your NFTs are safe and Magic Eden has not been hacked. Make sure you do a hard refresh on your browser to fix it”.

The NFT marketplace believes that other websites were also impacted by the third-party vendor attack, but Magic Eden does not feel that it was specifically targeted by it. It would not disclose the name of the third-party provider out of security concerns.

25 Fake NFTs Sold On Solana’s Magic Eden

Marketplace for nonfungible tokens (NFTs) Magic Eden has promised to reimburse all users who were tricked into buying fraudulent NFTs on their website as a result of a bug.

The platform said in a statement on January 4 that a flaw in the “activity indexer,” which had just been made available for its Snappy Marketplace and Pro Trade tools, effectively allowed fraudulent NFTs to avoid verification and be displayed among real NFT collections.

Magic Eden said that the exploit resulted in 25 counterfeit NFTs being sold over four collections in the last day, but it is still unclear whether any NFTs were impacted after that.

The costly and well-liked collections ABC and y00ts, both headquartered in Solana, were two of the projects that were impacted.

By temporarily blocking these tools and removing the “entry points” that permitted unconfirmed NFTs to pass through, the NFT platform claimed that the problem has been fixed.

Additionally, it cautioned users against buying unverified NFTs and instructed them to “hard refresh” their browsers to make sure the unverified listings are gone.

Cardano Founder Lock Horns Over NFT Profile Picture

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Cardano’s Charles Hoskinson stirred up controversy once more when he changed his Twitter profile picture to a replica of a Cardano NFT that featured a drawing of himself.

This time, Hoskinson was locked in a verbal battle with the CEO of large Cardano NFT marketplace JPGstore, Blakelock Brown, who insisted that Hoskinson should have purchased a real NFT and set an example, for the NFT industry.

In response, the IOHK founder refused to buy the NFT or sign any contract.

“I don’t think Blake is getting my broader point about the contractual relationships and rights of the purchaser”, Hoskinson tweeted.

He then said an NFT is the same as that of a lithograph a painting.

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Cardano Founder Lock Horns Over NFT Profile Picture 4

It’s worth noting that the NFT Hoskinson used as his profile picture the day prior cost 10,000 ADA, or $2,700.

The Cardano founder started receiving flak after justifying right-clicking and saving the image because he liked it and that the owner of the genuine NFT had nothing against it, because the action, as per him, elevated the digital collectible’s worth.

He concluded his tweets by saying that he had a cool profile picture and had saved money at the end.

Outside of the crypto community, there has been significant discussion over right-clicking and saving NFT as an image, which seems to invalidate the idea of NFTs altogether.

That being said, in Dec last, Cardano-based NFT sales surged by more than 30% over the daily index. The joint photo of Hoskinson and hip-hop legend Snoop Dogg was likely the catalyst for such a significant change.

Cardano NFTs Gather Steam

Overall, the Cardano ecosystem has witnessed fast growth in the world of Web3 and non-fungible tokens. The blockchain is slowly becoming a go-to platform for different players to launch their unique digital collectibles.

The layer-1 protocol has recently gained momentum for NFT projects. The floor price of The Ape Society’s NFTs, Cardano’s largest NFT project, hit a record high of 10,000 ADA, indicating strong user demand.

It’s interesting to note that ADA Ape demand has also surged recently, pushing up prices even further. According to the most recent information provided by wab.eth, Cardano Ape Francisque sold for a staggering $250,000, directly competing with the extremely well-liked Bored Ape NFTs.

It’s intriguing that such a development occurred at a time when market sentiment is bearish.

Fidelity Stakes Its Claim Into the Metaverse By Filing 3 Patents

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Fidelity Investments has filed three trademark applications focusing on key areas such as NFTs Marketplaces, Metaverse Investment Services, Virtual Real Estate Investing, Cryptocurrency Trading, and many others.

Highlighting the entries, trademark attorney Mike Kondoudis in a tweet revealed that the filings were presented to the United States Patent Trademark Office [USPTO] on Dec. 21.

One of the firm’s key focus appears to be the metaverse, with Fidelity indicating that it could offer a wide range of investment services within virtual worlds including mutual funds, retirement funds, investment management, and financial planning.

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Fidelity Stakes Its Claim Into the Metaverse By Filing 3 Patents 6

Although 2022 will go down in history for the infamous collapse of FTX, the centralized crypto exchange, and the arrest of its founder and ex-CEO, Sam Bankman-Fried [aka SBF] for fraud. This has however done little effect on Fidelity when engaging with blockchain technology and cryptocurrencies.

In fact, the investment giant has been one of the key financial firms looking to make its presence feel in cryptocurrencies.

Fidelity Launch Fee-Free Trades On Ethereum And Bitcoin

The business introduced an Ethereum Index Fund in October to provide customers with exposure to Ether [ETH]. It stated in November that it would make commission-free trading of Bitcoin [BTC] and Ether available on its mobile app in addition to conventional stock investments.

By securing the rights to its name and the services it will offer after the Metaverse is developed with a larger community of active users, the company has demonstrated in its most recent move that it is aiming to get ahead of the game regarding services in the Metaverse.

Apart from Fidelity, HSBC is another financial institution to lay its claim to naming rights in the Metaverse by filing trademark applications for its name and logo.

The applications, which were submitted on December 15, also featured a number of proposals for services like processing virtual credit cards, digital media backed by NFTs, and virtual currency exchange and transfer.

The fillings from both HSBC and Fidelity demonstrate rising interest by several larger financial institutions to establish a presence in the metaverse early on.

Visa International Service Association submitted a trademark application in October [NFTs] in order for the well-known VISA logo to be used to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange digital currency, virtual currency, cryptocurrency, digital and blockchain assets, and non-fungible tokens

Solana’s Most Ambitious NFT Project Flocks To Ethereum Blockchain

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DeGods, a major Solana-powered NFT project, is now switching to Ethereum in Q1 of 2023, the team revealed via Twitter.

The bridge is not the destination. It is on the path to get there.The details of the bridge will be released when it’s ready & tested. This has never been done before at this scale. We want to make sure that it’s airtight. In the meantime, we will be releasing the Season III roadmap in January (for real this time).

Another leading project announcing its departure is the community-first NFT collection y00ts which would be migrating to the Polygon network.

The news has dealt a heavy blow to the SOL’s network as both DeGods and y00ts were in the top 20 volumes according to data from cryptoslam.

Solana’s market capitalization was hit the hardest in the onslaught of both FTX and Alameda Research.

In particular, the DeFi on the network was impacted the most. Since the year’s start, the total value locked on Solana has decreased by 96%. According to DeFiLlama, the current value of TVL is a pitiful $218 million.

Additionally, on-chain activity has completely dropped. Over the past several months, all three metrics—transactions, active addresses, and wallets—have drastically fallen.

The Solana network’s nonfungible token activity has been strong overall despite the recent FTX scandal and the exit of two projects. Per Data from Cryptoslam, the 30-day sales volume metric topped $50 million.

Ethereum Rules The Roost But Solana Is Not Far Behind

Other NFT networks such as ImmutableX, Cardano, Polygon, Flow, and BNB Chain are way behind. As of Dec. 8, Sol NFTs had $60 million in 30-day sales volume, which is more than 4x the next ecosystem, ImmutableX.

However, Ethereum still continues to dominate the NFT market by a huge margin. The data shows that the 30-day NFT sales volume on Ethereum was close to $400 million.

For web3 game developers, compressed NFT minting could be quite important. This implies that they can easily produce a large number of in-game NFTs on the Sol network.

Furthermore, a number of game titles are set to be released on Solana next year. The launch of the Saga Solana-based phone will also be a pivotal moment for the ecosystem, said Solana Ventures investor Justin Barlow.

XRPL Co-Founder Released “Ugly On The Outside” NFT Collection

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Co-creator of XRPL and current CTO of the blockchain firm Ripple, David Schwarz launched his own NFT collection- “Ugly On The Outside”.

The collection consists of 28 items of digital collectibles created on the Ethereum blockchain with floor prices starting from 0.25 ETH.

The digital pieces have generated attention among NFT enthusiasts mainly for their eye-catching appearances.

Additionally, the blog’s owner advised customers to give these names to anyone they know who is just as nasty on the inside as they are on the outer.

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XRPL Co-Founder Released "Ugly On The Outside" NFT Collection 8

Apart from that, the images have been generated using the artistic tool Stable Diffusion. Creators of the NFTs are entitled to a 5% fee and pledged not to bring a copyright infringement lawsuit against the owner of any NFT in this collection, the author added.

That said, XRPL projects and payment firm Ripple have their sights clearly set on dominating the NFT sphere.

Ripple developers proposed an XLS-20 amendment in Q1, 2022, to introduce native NFT support to XRPL. One of the leading XRP Ledger projects, onXRP, released a beta version of its NFT marketplace.

Additionally, a new record of NFT sales on XRP Ledger was attained last month. As reported by onXRP, an XRPL-based modular ecosystem, one of the “XRPL Punks” collection’s items sold for 108,900 XRP, the equivalent of $44,000.

The outcome of an open auction for the collection’s Xpunk #8811, according to the official Twitter account for the collection. It was said that the buyer is well-known in the neighborhood without giving his or her name.

One of the most popular collections on XRPL is the Punks collection, or Xpunks, which pays homage to the already renowned non-fungible CryptoPunks collectibles. Xpunks alone has exchanged 1.78 million XRPs since the eagerly anticipated XLS-20 amendment was implemented to XRPL this fall.

An EVM-Compatible XRPL Will Become A Reality In Q2 2023

It’s interesting that the Bored Ape Yacht Club, another previously storied NFT collection, is referred to as the second most popular collection. The Bored Apes XRP Club has a turnover of 866,533 XRP despite having two times less than that.

Currently, Ripple is running tests where programmers can quickly deploy smart contracts created for Ethereum on its XRP Ledger platform. 

The start of the second phase, when the EVM sidechain becomes permissionless, will occur in early 2023. The EVM sidechain will be fully deployed by the third phase, which is scheduled for the second quarter.

Ganja Guruz NFT Grows in Demand After Its Successful Launch

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The first NFT conference in the world debuted with VeeFriends, known as VeeCon. For many NFT enthusiasts, this alone was a key driver to invest in VeeFriends NFTs, the only way to attend this event and the Web3 community. However, for NFT investors looking for high-utility projects, VeeFriends may not be worth the high price. Read on to find out why Ganja Gurus is the focus for many NFT holders. 

What Is Ganja Guruz?

Ganja Guruz is a new NFT collection offered by BudBlockz – the first cannabis platform in the world, specially designed for secure, transparent transactions between sellers and users. The platform utilises the native token, known as BLUNT. BLUNT token holders automatically become part of this all-inclusive community and enjoy many unique perks.

As of this writing, more than 60 million tokens have already been sold, although the project is still in its presale stage. However, this platform has already attracted many investors, positioning itself as the first decentralised e-commerce platform for weed enthusiasts. With a minimum of $50 initial investment, anyone who wants to participate in the cannabis industry can do so safely and profitably. 

VeeFriends Vs Ganja Guruz Perks

Perhaps the main selling point of VeeFriends is the popularity of Gary Vee, the collection’s creator. Essentially, each VeeFriend represents traits that the creator appreciates in people. VeeFriends NFT holders have two main benefits: participating in VeeCon, a conference for the NFT community, and real-life experiences with Gary Vee – such as having dinner with him. 

While the social utility is obvious with Veefriends, Ganja Guruz tells a different story. We are still aiming to create a unified community, the cannabis NFT collection targets anime lovers with retro gamers, weed users, and investors. 

Ganja Guruz is a high-utility project, and there are many reasons why it offers more benefits to its holders. First of all, holders of such NFTs can opt to become fractional owners in weed businesses worldwide. This means anyone can join the booming weed industry, which is expected to reach approximately $200 billion in the next few years. 

The Ganja Guruz collection opens the door to unique artwork and many discounts and offers for its holders. The holders are official members of BudBlockz dispensaries worldwide, so they become part of the growing cannabis community established by the platform. Finally, Ganja Guruz holders can access the weed-related P2E gaming space, which rewards players with BLUNT tokens. 

Bottom Line

The use cases for Ganja Guruz and VeeFriends are as different as they can be. NFT enthusiasts looking for high-utility NFTs are attracted by BudBlockz thanks to the many perks offered by this cannabis platform. Based on the BLUNT token, weed enthusiasts can now support this industry directly, become fractional owners of weed businesses, and engage in transparent, secured peer-to-peer transactions, as long as they reside in a country where weed consumption is legal. 

To mint your own BudBlockz Ganja Guruz NFT visit: https://budblockz.io/nfts

Once on the page click the “Mint Now” button and connect your ERC20 compatible wallet. You will be able to mint your Ganja Guruz NFT for 0.09 ETH. 

Use the promo code “CYBERWEEK” to receive a 20% bonus on your $BLUNT purchase before 5 December 2022.

Purchase or learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz