Line Next Gears Up for Global NFT Marketplace; NFT Trader Recovers Stolen Assets; OKX Leads in Trading Volume
Summary:
This weekly news digest covers Line Next's $140 million fundraise for its impending global nonfungible token (NFT) marketplace launch, NFT Trader's recovery of $3 million in stolen NFTs, a view into the future of in-game asset rentals via NFTs, OKX NFT platform's trading volume triumph over competitors, and the creation of a unique song for Coinbase’s Base blockchain.
Discover in this week's bulletin that Line Next amassed $140 million in funding in preparation to unveil its international nonfungible token (NFT) marketplace. Also, learn how NFT Trader reclaimed $3 million in lost NFTs. Get insights into how a company executive envisions the leasing of in-game assets courtesy of NFTs. Plus, discover how OKX NFT platform outdoes competitors in daily trade totals. On another note, a song has been formulated exclusively for Coinbase’s Base blockchain.
Line Next, the NFT division of the acclaimed messaging platform, secured $140 million in preparation to introduce an NFT marketplace globally. The funding was spearheaded by Crescendo Equity Partners, a company supported by the erstwhile PayPal CEO Peter Thiel. Line Next plans to launch DOSI, its worldwide NFT marketplace, early in 2024 which will link with the existing Japan-based NFT platform.
The cybercriminal responsible for making off with almost $3 million in Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs returned the purloined assets when a bounty equivalent to $260,000 was rewarded. The ApeCoin-funded project Boring Security orchestrated the recovery of the 36 BAYC and 18 MAYC NFTs, less than 24 hours after settling the bounty sum, which was 10% of the NFTs’ market value.
In an interview with Cointelegraph, Richard McLaren, co-founder of Polemos, predicts a future where gamers would lease their in-play assets via the blockchain. This could be in the form of loaning NFTs that permit testing new games or NFTs tied to tools that can help players maneuver demanding levels in gaming. McLaren believes such a feature could encourage novices to participate in gaming without the need for a full investment.
With a 24-hour trade value of roughly $50 million dated December 18, the OKX NFT marketplace outperformed competitors including Blur, OpenSea, and Magic Eden. This achievement is attributed to the platform's offer to trade Bitcoin Ordinals, which saw weekly sales of $367 million at the time.
Marking a collaboration with music platform Sound.xyz, layer-2 blockchain Base minted a new song “Based” involving artists Reo Cragun and Heno. To acknowledge the partnership, the song, which echoes the behavior of users during a bearish market, was minted on the blockchain.
Appreciation for digesting this rundown of proposed developments in the NFT arena this week. Make a point to rejoin us next Wednesday for more updates and insights in this progressing field.
Published At
12/20/2023 11:00:00 PM
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