Roundup of NFT Market News for the Week of November 8-14, 2021

It’s been a hectic week of NFT market news. Beeple saw another monster sale, but it wasn’t a traditional NFT for buyers. Video game developers are showing a growing interest in this area, and a crypto exchange executive is incredibly optimistic. And with the support of a powerful music label, an NFT band was formed that consists only of Bored Apes.

Summary of the News on the NFT Market: News about Beeple

Beeple’s newest buyer spent $ 29 million on a one-of-a-kind product. This is also not a generic NFT. Beeple has created a work of modern art that is almost eight feet tall. He said it will be updated all his life. The piece is part of Christie’s latest NFT auction. Beeple describes the work as “the first portrait of a person who was born in the Metaverse”.

NFT Market News Compilation: NFT Game Developer Hobby

A new study by game developers in the US and UK shows that NFT and blockchain features are of growing interest. According to the report, led by blockchain company Stratis and Insights agency Opinium, 58% of surveyed video game developers are starting to integrate blockchain technology and 47% have integrated NFT.

NFT Market News Summary: NFTs need equal representation

NFTs is a particularly young area. However, following the trends in many emerging industries, we still need to see fair and equitable representation of talent. We can assume that this will change as the space increases.

The gender gap in NFT sales is evident. In a report mentioned on sister network NewsBTC, NFT artists only made 5% of Nifty Gateway’s NFT sales in the past two years.

Summary of NFT market news: Chainlink Labs cooperates with Palm Network on all aspects of NFT

One of the latest major collaborations around NFT and large blockchain platforms came from Chainlink Labs and Palm Network last week. Palm Network is an Ethereum-based NFT ecosystem that is developing a “multi-chain abstraction layer”. Some of Chainlink’s Oracle services are expected to be used in this partnership.

NFT Market News Summary: Universal Music Group leads the way for first NFT band

Four Bored Apes (well, three Bored Apes and one Mutant Ape) have joined forces with the permission of the Universal Music Group (UMG) to form Kingship, the first NFT band. Bored Ape and Mutant Ape owners will have early access to the team’s NFT and publications, and ideas to contribute to the team’s history. NFT concerts are also expected.

These are the beginnings of NFT use in entertainment and the tip of the iceberg when it comes to the potential of NFT in music.

NFT Market Summary: Tezos .Top NFT Marketplace

Tezos has worked to build the NFT infrastructure to compete with the biggest players in the space. So far, the leader in Tezos NFTs is Hic et Nunc, better known as HEN. Internal controversy is rumored to have resulted in a shutdown at HEN, with speculation that the disruption will be further exacerbated by the arrival of the new Tezos market item. HEN’s domain is now gone and the platform’s Twitter profile is simply “down”.

Tezos has found its place in the NFT market thanks to its fast transaction times and low gas fees. The platform was even included in an interactive NFT exhibit at the upcoming Art Basel Miami Beach. Can Obkt fill the HEN gap?

NFTs Dominate Cryptocurrency Trading?

Can NFT prevail over crypto trading in the end? According to a report from Bloomberg this week, Coinbase CEO Brian Armstrong appears to believe so from the transcript of the company’s third-quarter earnings report. “NFTs can be the same size or larger” than the company’s crypto business, Armstrong said. The platform is quickly reaching 3 million users for its NFT marketplace waiting list.

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