In NFT news today, after a couple of days of increasing non-fungible token (NFT) sales volume, the market is back in red.
According to CryptoSlam, the sales volume is down nearly 13% over the past day to $42,137,944.
Buyers, sellers, and transactions are all down by just above 30%.
Looking at the top ten collections per sales volume, we find a mixed picture. Pudgy Penguins saw the biggest increase in the last 24 hours, by 242% to $1.5 million.
The highest drop was Nobody’s 75% to $719,751.
Pandora has remained in first place on the list with $14.98 million – substantially higher than the second-placed CryptoPunks’ $1.8 million.
As for the top ten blockchains over the past day, the most notable changes are with Ethereum and Solana. Ethereum is, expectedly, still in first place, but with a higher-than-usual daily volume of $28.6 million.
After nearly exiting the top ten list altogether following an outage, Solana is back in the top five. It currently sits in fourth place with $1.13 million, despite an 80% drop.
In other NFT news today, Yuga Labs shares details about its Punk In Residence program, Magic Eden announces the Creator’s Alliance, and Supervillain Labs and Aptos Labs partner on UX-rich Web3 gaming experiences.
CryptoPunks Reveals Details for its Punk In Residence Incubator Program
Yuga Labs, the team behind major collections CryptoPunks, Bored Ape Yacht Club (BAYC), Otherside, Meebits, and 10KTF, has revealed details on its new incubator program named Punk in Residence.
According to the press release, Punk in Residence will work with two artists per year. Web3 background isn’t required.
Participating artists may live and work from anywhere. They will receive ongoing mentorship, technical guidance, and production support as they create new pieces in collaboration with Yuga Labs and the CryptoPunks team.
Artists are free to interpret the definition of Punk from their own point of view via the medium of their choosing. “Yuga Labs will provide the technical expertise to bring these creations to the blockchain, pushing the intersection of culture and code,” it said.
Nina Chanel Abney will be the inaugural artist. Her work is featured in collections around the world, including the Whitney Museum of American Art, the Brooklyn Museum, The Rubell Family Collection, the Bronx Museum, the Dallas Museum of Art, and the Museum of Modern Art, New York.
With a mission of championing innovation and expression in digital art, the Punk in Residence program seeks to onboard and amplify new voices in the next generation of artists and collectors in web3.
Serving as an incubator for experimentation, artists are asked to explore “what…
— CryptoPunks (@cryptopunksnfts) February 6, 2024
Abney and CryptoPunks plan to exhibit the joint collection later this year. Subsequently, it will go on sale to the public on Magic Eden, the only marketplace that honors creator royalties.
“Abney and subsequent participating artists, will share equally with Yuga Labs in the financial success of sales of their digital releases to the public,” it added.
And speaking of Magic Eden and Yuga Labs…
Magic Eden Announces the Creator’s Alliance
In other NFT news today, Magic Eden has revealed a new alliance between major projects in the NFT space.
The Creator’s Alliance is “a coalition of the top NFT projects in web3, who are focused on promoting a sustainable royalty framework to empower creators and grow the NFT ecosystem,” it said.
Together, the collation members plan to advocate for a better industry that safeguards creators and encourages innovation.
It will support marketplaces that enable creators to earn royalties at the rate they set.
The members include: Yuga Labs, RTFKT, Pudgy Penguins, Azuki, 0N1 Force, Sugartown (Zynga), DeGods/y00ts, Doodles, Neo Tokyo, Animoca Brands, Creepz, Pixelmon, Wildcard, San FranTokyo, Forgotten Runes, Frame, Adidas, Hytopia, Rekt Guys, ThankYouX, Okay Bears, World of Women, Valeria Games, DeadFellaz, Cyber Kongz, Crypto Ninja Partners, A Kid Called Beast, Army Of Fortune, RENGA, Quirkies, Random Character Collective (Invisible Friends), Degen Toonz, Killabears, Cryptoon Goonz, Steady Stack, Alien Frens, Rug Radio, The Doge Pound, and Truth Labs.
We are proud to be a founding member of @MagicEden’s Creator’s Alliance.
We’re committed to a sustainable solution that protects creator royalties. It starts with the Creator’s Alliance and builds with the launch of the upcoming Magic Eden marketplace on Ethereum.
— Yuga Labs (@yugalabs) February 7, 2024
Yuga and Magic Eden have also invited other projects to join the cause. “It starts with the Creator’s Alliance and builds with the launch of the ME marketplace with Yuga Labs,” it said.
The initiative is an Ethereum-focused alliance in line with the upcoming marketplace launch. Magic Eden “happily supports pNFTs on Solana as a sustainable way for creators to earn royalties,” the team said.
Supervillain Labs and Aptos Labs Partner on UX-Rich Web3 Gaming Experiences
Aptos Labs, the team behind the layer-1 blockchain Aptos Network, has announced an investment in and partnership with game studio Supervillain Labs, per the announcement.
Supervillain Labs will collaborate with other Aptos ecosystem projects to develop original games. In the first of these games, titled Supervillain: Idle RPG, Aptos-native NFT projects, including Aptos Monkeys, Aptomingos, and Bruh Bears, will be represented as characters.
Participants who complete the Supervillain Suitability Test will also receive an “Ambassador Badge” NFT and a “Villain Character” NFT based on the participant’s personality type to use within the game.
A game demo of Supervillain: Idle RPG will be available on Aptos towards the end of February.
Unmatched performance + innovative entertainment to open up the adoption in the gaming space🔥
Stay tuned. The future is right behind👋https://t.co/bdQXEn4EdP
— Supervillain Labs (@supervlabs) February 8, 2024
The Supervillain Labs team chose to build its gaming presence on Aptos for the second time. Supervillain Labs can utilize peerless features of the Aptos blockchain, including Parallel Execution, which allows for millions of simultaneous transactions within each game, and the Aptos Digital Asset Standard, which facilitates efficient distribution, management, and operation of gaming assets across casual and core MMORPGs.
Supervillain Labs and Aptos Labs will also collaborate with Intella X, a web3 arm of gaming giant Neowiz.
Read the full article here