Bored Ape floor price falls below 30 ETH: Nifty Newsletter, July 5–11

In this weeks newsletter, checked out Ethereum nonfungible token (NFT) royalties hitting their most affordable point in 2 years. Have A Look At Bitcoin Ordinals trading volume, which struck $210 million in the second quarter of 2023, and how a decentralized finance (DeFi) debtor used an NFT representing a physical high-end watch to secure a loan. In other news, discover why Animoca Brands co-founder Yat Siu is still bullish on blockchain video games, and do not forget todays Nifty News, featuring a Sega executives viewpoint on play-to-earn video gaming. Ethereum NFT royalties struck 2-year low as Bored Ape floor rate falls below 30 ETHA report from blockchain analytics firm Nansen showed that royalties earned by NFT tasks have actually reached a 2-year low. The dip might be fueled by lower NFT flooring rates of popular collections like the Bored Ape Yacht Club and the Azuki Elementals launch controversy. According to the report, NFT marketplaces OpenSea and Blur are going head-to-head with each other in regards to royalties paid. However, when the trading volume surges, Blur frequently takes the lead. Continue readingBitcoin Ordinals volume hits $210 million in Q2– DappRadarThe development of the Bitcoin Ordinals procedure on the Bitcoin blockchain has actually led to a significant trading volume going beyond $210 million, according to DappRadar. The data highlights the rising popularity of Bitcoin Ordinals, resulting in an exceptional boost in trading volume throughout the 2nd quarter of 2023. Starting at $7.18 million in the first quarter, the trading volume soared to $210.7 million by the end of June, representing a staggering 2834% quarterly growth. Additionally, the report reveals that over 550,000 Ordinals trades happened in Q2, involving approximately 150,000 unique traders, even more adding to the amazing trading volume surge.Continue readingDeFi borrower uses luxury watch-backed NFT as collateral for a loanA DeFi customer has utilized a Patek Phillipe high-end watch to collateralize a $35,000 loan. The watch was sent to an escrow company that handles NFTs backed by physical properties in exchange for an NFT representing ownership of the watch. The NFT was then listed as security at the DeFi procedure Arcade and was used to obtain the money.Some expressed favorable feelings about using Web3 technology in lending, while others believe that its including NFTs where its not necessary. Continue readingAnimoca still bullish on blockchain video games, awaits license for metaverse fundDespite the subsiding interest in NFTs and blockchain video gaming, Animoca Brands co-founder Yat Siu highlighted that their company stays optimistic in the sector. In a Cointelegraph interview, Siu kept in mind that hes expecting AAA-rated blockchain games to strike the marketplace by 2023. Apart from this, the Animoca executive likewise kept in mind that the company is awaiting a license prior to it can put its much-anticipated metaverse fund to work. Continue readingNifty News: Sega officer calls P2E games dull, Tom Bradys NFT company changes it up and moreShuji Utsumi, an executive from Sega, the business behind popular video game franchises like Sonic The Hedgehog, explained play-to-earn video games as “boring” and stated that Sega is terminating its plans to establish blockchain games. Meanwhile, the NFT-focused start-up of American sports star Tom Brady is apparently moving far from NFTs, silently removing crypto language in its products. Continue readingCHECK OUT COINTELEGRAPHS NFT STEEZ PODCASTThanks for reading this digest of the weeks most noteworthy developments in the NFT space. Return next Wednesday for more reports and insights into this actively progressing area.

Ethereum NFT royalties struck 2-year low as Bored Ape flooring cost falls below 30 ETHA report from blockchain analytics firm Nansen revealed that royalties made by NFT jobs have reached a 2-year low. The watch was sent out to an escrow company that deals with NFTs backed by physical assets in exchange for an NFT representing ownership of the watch. The NFT was then listed as security at the DeFi protocol Arcade and was utilized to obtain the money.Some expressed positive sensations about the usage of Web3 innovation in loaning, while others believe that its including NFTs where its not needed.

Other Questions People Ask

What factors contributed to the Bored Ape floor price falling below 30 ETH in the Nifty Newsletter, July 5–11?

The recent decline in the Bored Ape floor price below 30 ETH can be attributed to several factors, including a significant drop in NFT royalties, which have reached their lowest point in two years. Additionally, controversies surrounding the Azuki Elementals launch may have impacted investor confidence. The competition between NFT marketplaces like OpenSea and Blur over royalty payments also plays a role in this downward trend.

How does the drop in Bored Ape floor price affect Ethereum NFT royalties?

The fall of the Bored Ape floor price has a direct impact on Ethereum NFT royalties, which have hit a two-year low as reported by blockchain analytics firm Nansen. As the floor prices of popular collections decline, the overall royalties generated by these NFTs decrease, leading to lower earnings for creators and projects. This situation highlights the interconnectedness of market dynamics within the NFT ecosystem.

What insights does the Nifty Newsletter provide about the NFT market trends related to Bored Ape floor price?

The Nifty Newsletter reveals that the NFT market is experiencing significant shifts, particularly with the Bored Ape floor price dropping below 30 ETH. It discusses how this decline is part of a broader trend where NFT royalties are at a two-year low, influenced by market competition and recent controversies. The newsletter emphasizes the need for projects to adapt to these changing conditions to maintain their value and relevance.

What are the implications of the Bored Ape floor price drop for NFT investors?

The drop in the Bored Ape floor price below 30 ETH poses several implications for NFT investors. It may signal a potential buying opportunity for those looking to enter the market at lower prices, but it also raises concerns about the long-term value of high-profile collections. Investors should closely monitor market trends and consider diversifying their portfolios to mitigate risks associated with fluctuating floor prices.

How is the NFT landscape evolving as highlighted in the Nifty Newsletter regarding Bored Ape floor price?

The Nifty Newsletter illustrates that the NFT landscape is evolving rapidly, particularly with the Bored Ape floor price falling below 30 ETH. This shift is indicative of broader market changes, including increased trading volume in Bitcoin Ordinals and a growing interest in DeFi applications involving NFTs. As traditional gaming companies like Sega express skepticism about blockchain gaming, it remains crucial for NFT projects to innovate and adapt to maintain their appeal.