Solana

Chair

ZachXBT

Gary

<p data-ct-non-breakable="true">In this week’s newsletter, read about Solana-based <a href="https://cointelegraph.com/nonfungible-tokens-for-beginners/what-are-nfts-and-why-are-they-revolutionizing-the-art-world" rel="noopener noreferrer nofollow">nonfungible tokens (NFTs)</a> recovering sales volume after a four-month slump, find out about Yuga Labs’ new CEO, and check out how crypto investigator ZachXBT recovered stolen NFT proceeds. In other news, find a new metaverse is partnering with stablecoin-issuer Circle to add in-game wallets, and don’t forget our Nifty News roundup, featuring South Korea’s plans to consult United States Securities and Exchange Commission (SEC) Chair Gary Gensler on NFTs.&nbsp;</p>
<h2 data-ct-non-breakable="true" id="solana-nfts-hit-5-billion-in-all-time-sales-volume">Solana NFTs hit $5 billion in all-time sales volume</h2>
<p data-ct-non-breakable="true">NFTs based on Solana have reached a new all-time sales volume milestone. On Feb. 23, NFT data tracker CryptoSlam showed that the all-time sales volume for Solana NFTs already exceeded $5 billion. In addition, the total number of NFT transactions on the blockchain has also reached around 43 million.</p>
<p>After a four-month slump, Solana NFTs picked up in October 2023, with a 192% jump in sales volume from $28 million to $82 million. The momentum continued through December 2023, when the chain recorded its second-highest monthly sales volume of $365 million.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/solana-nft-sales-volume-5-b" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="bayc-co-creator-greg-solano-takes-up-reins-as-yuga-labs-ceo">BAYC co-creator Greg Solano takes up reins as Yuga Labs CEO</h2>
<p data-ct-non-breakable="true">Greg Solano, one of the creators behind the popular Bored Ape Yacht Club collection, has become the new CEO of Yuga Labs. Solano, who also co-founded the company, will replace Daniel Alegre, who has been CEO since April 2023.</p>
<p>In an X post, Solano said he is “stepping back in” as the NFT company’s CEO, saying he’s ready to take the reins and bring the firm to a new chapter.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/greg-solana-appointed-yuga-labs-ceo-daniel-algere-steps-down" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="zachxbt-recovers-majority-of-177-000-stolen-nft-proceeds-after-nine-month-probe">ZachXBT recovers majority of $177,000 stolen NFT proceeds after nine-month probe</h2>
<p data-ct-non-breakable="true">On-chain sleuth ZachXBT has recovered most of the funds from the sale of a stolen DeGods NFT, which was taken from its original owner through a phishing scam in May 2023. The crypto investigator shared the results of a nine-month investigation into the theft, revealing on Feb. 24 that most of the funds were returned to the owner.</p>
<p>The hackers sold the NFT for 99 Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) in May, worth around $177,000 at the time. The pseudonymous crypto investigator said that a “decent chunk” of the money has already been returned to the victim.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/zach-xbt-degods-nft-stolen-proceeds" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="pubg-publisher-taps-circle-to-integrate-in-game-wallet-on-a-new-metaverse">PUBG publisher taps Circle to integrate in-game wallet on a new metaverse</h2>
<p data-ct-non-breakable="true">Overdare — a joint venture between software company Naver Z and PUBG: Battlegrounds publisher Krafton — has announced a partnership with the stablecoin issuer Circle to integrate in-game wallets into its metaverse.</p>
<p>Circle’s wallet service will allow game content creators to have a Web3 wallet to receive USD Coin (<a href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow">USDC</a>) payouts for the content they create. The metaverse will also integrate the USDC stablecoin to settle transactions in-game.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/circle-pubg-metaverse-game-wallet" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="nifty-news-yuga-cuts-non-royalty-markets-south-korea-to-discuss-nfts-with-gary-gensler">Nifty News: Yuga cuts non-royalty markets, South Korea to discuss NFTs with Gary Gensler</h2>
<p data-ct-non-breakable="true">Meanwhile, South Korean financial authorities plan to have an NFT-focused discussion with U.S. SEC Chair Gensler. According to local media reports, South Korea’s Financial Supervisory Service Chairman, Lee Bok-hyun, will begin a discussion with Gensler in May.</p>
<p>In other news, Yuga Labs has removed some of its NFT collections from marketplaces that do not support royalties for all creators. The company published a list of projects that will only be available on NFT trading platforms supporting royalties.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/yuga-labs-nft-royalty-south-korea-gary-gensler-rug-pull" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2023-01/43adc850-7dbd-4fa8-811b-9eb32b6c1983.jpg" alt="" title="Solana NFTs hit $5B in sales, Greg Solano takes reins at Yuga Labs: Nifty Newsletter">
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<p class="post-content__accent post-content__accent_big data-ct-non-breakable=" true><a href="https://cointelegraph.com/podcasts/nft-steez" rel="noopener noreferrer nofollow">CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST</a></p>
<p data-ct-non-breakable="true"><em>Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.</em></p>

Solana NFTs hit $5B in sales, Greg Solano takes reins at Yuga Labs: Nifty Newsletter

Table of Contents

Cointelegraph

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