Blockchain Events
OpenSea Adds Avalanche
OpenSea is now officially supporting the Avalanche blockchain. This gives the network’s native nonfungible token (NFT) projects wider access and makes transactions faster for OpenSea users.
In a blog post on Oct. 12, the Avalanche team said that 10 of the network’s native NFT projects have been listed on OpenSea so far, with more to come.
“On Avalanche, OpenSea users will have the fastest time to finality for NFT trades, with transactions often settling in less than a second, and consistently low transaction fees, thanks to Avalanche’s success in horizontally scaling with Subnets,” the post says.
According to data from CryptoSlam, Avalanche is currently the ninth largest blockchain based on the amount of NFTs sold in 24 hours (just $75,690) and the seventh largest based on the total amount of NFTs sold ($404 million).
Compared to Ethereum, Solana, and ImmutableX, which sold $6.8 million, $1.5 million, and $662,335 during the same time period, respectively, the 24-hour figure is quite low. However, Avalanche has seen the biggest increase in volume over the past 24 hours, at 151%.
The team also said that Avalanches’ activity on the NFT market is growing a lot this year, with the number of NFT sales going up by 180% since Q2.
The integration with OpenSea may also give Avalanche NFT projects some much-needed exposure since no project from the network has been in the top 100 for NFT sales volume in the last 24 hours, 7 days, 30 days, or on the all-time sales metric.
OpenSea also works with Ethereum, Klaytn, Polygon, and Solana, in addition to Avalanche.
Meta can see legs in the distance.
Mark Zuckerberg’s virtual reality company, Meta, just announced that avatars in its Meta Horizon World’s metaverse platform will soon be able to walk. This is a very big deal.
Soon, legs will be here! Are you happy? — Meta Horizon (@MetaHorizon) October 11, 2022.
As things stand, Meta’s avatars have to go around Zuck’s virtual sphere without a bottom half.
The news has been overshadowed, though, by Meta’s announcement of a new product, the Meta Quest VR headset, which will be released on Oct. 25.
The sleek-looking headset will cost $1,499 and is said to have “next-generation optics” and “premium comfort.” At this point, it’s not clear if the company will add NFT integrations to its metaverse platform, but Zuckerberg said this week at Meta’s Connect conference that the company wants to build a platform that is open and works with other systems. Meta’s Instagram has already added support for NFTs, which is a big deal.
“I’m sure that everyone will benefit from an open, interoperable Metaverse built by many different developers and companies,” he said.
VR is starting to change the world. We made a brand-new headset that is full of high-tech features and is made for productivity, creative work, and working together. This is Meta Quest Pro, which you can get on 10.25.
DeGods “next experiment”
DeGods, an NFT project based in Solana, has announced its “next experiment” by making it free to trade its tOObs, yOOts, and DeGods NFTs.
Since October 9, the project’s collection resale royalties have gone from 9.99% to 0%, and the team has said on Twitter that it is looking into new ways to run its NFT projects in the future:
“We still think that royalties are a great way for NFTs to be used. We will keep helping creators who want to find ways to get their royalties. We think this is the best choice for our company right now. It’s time to try something different.”
So far, its yOOts mint tOOb project has been the most successful. Since its launch in September, it has brought in $753,115 in sales. Members of the community have asked why the project got rid of royalties, which were an important source of income. The reasons for the change are not entirely clear.
This is not a good choice for the space. Teams have access to mint funds in the short term, but royalties are the main thing that keeps teams active, motivated, able to grow, and able to hire people in the space.
Because of royalties, DeGods are where they are. — hyxtt (@hyxttcrypto) October 9, 2022
IHOP’s new NFT ad is clever.
IHOP, a chain of diners in the United States, sneakily added a new item to the menu by putting “NFT” in the headline of its online announcement to get people to look at it.
On Oct. 10, IHOP announced that it had “dropped its first NFT,” which was called “New French Toast.” They quickly clarified that “the NFT is not a non-fungible token; you can try the new Thick ‘N Fluffy French Toast for yourself at participating IHOP locations when you eat in or take out.”
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