In this weekly roundup, CoinMarketCap takes a look at some of the most prominent Play-to-Earn and NFT events that took place in the just concluded week, from La Liga jumping on the NFT train, to the historic $24M auction of 101 Bored Apes.
The NFT and Play-to-Earn scenes are currently heating up as investors rush to get in early. From top football leagues minting NFTs to multi-million dollar investments in Play-to-Earn games, this could be the next big thing. Here’s a roundup of the most exciting news that graced the NFT scenes.
NFT Market Loses Steam in September
Sorare Partners With Spain’s Top Football League
Sorare, a blockchain fantasy game platform, has been tasked with the responsibility of creating NFTs for players. Consequently, all the players from 42 Spanish clubs will be available as NFTs on the Ethereum blockchain.
Given the number of big clubs like Real Madrid, FC Barcelona, and Atlético de Madrid that are under the La Liga umbrella, the move could potentially expose NFTs to a much wider audience. Sorare believes the move will allow fans, fantasy gamers, and collectors to freely trade NFTs of La Liga’s top stars.
Meanwhile, the blockchain firm has set its eyes on even more partnerships. Sorare has set its target on all 20 of the world’s top football leagues by the end of 2022.
Commenting on the partnership, the president of LaLiga, Javier Tebas, said:
“This partnership with Sorare, the most exciting NFT sports project to date, allows us to reach new audiences around the world and gives existing fans additional ways to engage with the players and clubs they have. they like.”
National Football League Says No to Crypto
Polygon Invests in Decentral Games
As the name suggests, players can earn real money and other rewards by participating in play-to-earn games. Players on Axie Infinity, for instance, have been earning NFTs that they can exchange for cash or other cryptocurrencies. As for the Decentral Games, the project has created a gaming decentralized organization (DAO) ran by its users.
Apart from its investment in the project, Polygon is also staking $DG tokens, the native asset of Decentral Games.
Investors Splash Millions on Play-to-Earn Projects
Polygon is not the only one trying to explore the potential of play-to-earn games. Several investors are confident that the sector could be the next big thing.
Two game-focused startups, Crypto Gaming United and Zebedee, raised $5 million and $11.5 million, respectively, from investors in a funding round over the past week.
Hollywood Signs Deal with Top NFTs CryptoPunks and More
Imagine seeing an alien CryptoPunk in an episode of the American sitcom The Simpsons. This may happen sooner than expected following a partnership between major Hollywood agency United Talent Agency (UTA) and a few NFT projects – CryptoPunks, Meebits, and Autoglyphs.
The UTA has been charged with representing NFT projects from Larva Labs (creators of CryptoPunks, Meebits, and Autoglyphs) for films, video games, TV series, publishing, and licensing.
“I would say that it is one of the first opportunities for an IP that fully originated in crypto-world to enter a broader entertainment space, and they earned it […] They really have hit the zeitgeist in a tremendous way.”
Bored Apes NFTs Sold for Over $24 Million at Sotheby's
Each Bored Ape in the collection was sold at an average price of approximately $241,000 or 69.4 Ether, excluding the price of serum NFTs.
The platform’s trading volume has been on an upward trend since April 2021.
FTX Launches NFT Marketplace, Gets Spammed with Fishes
Who wouldn’t want to sell crypto art for $1 million? A lot of people are turning to NFTs for quick bucks, even if it means duplicating the image of a fish.
Crypto exchange FTX opened its NFT marketplace on Monday. The US platform will allow users to create, display, and sell their NFTs.
A few hours later, he rewound the decision by reducing the minting fee to a flat $10 per NFT.
Top 10 NFT Collections by Trading Volume for the Last 7 Days
Loot and CryptoPunks are occupying the second and third positions, respectively. While Loot saw a 7-day trade volume of $98 million and 1,862 sales, CryptoPunk has a more conservative figure of $47 million in transaction volume from just 95 sales. It is worth mentioning that CryptoPunk has the highest floor price of 87.98 ETH (equivalent to $298,000 at current market prices).
Other projects that made the top-10 list (in descending order) include Art Blocks, Bored Ape Yacht Club, Bloot, PUNKS Comic, Mutant Ape Yacht Club, MetaHero Universe, and VeeFriends.
On the basis of weekly sales, Axie Infinity is also leading the pack. 11,644 Bloots NFTs were sold, while Art Blocks had 5,050 sales.