#NFT

The company behind the popular P2E game Axie Infinity, Sky Mavis, has announced a partnership with the NFT collection CyberKongz. Their joint venture will entail developing a new game on the EVM-compatible blockchain Ronin. While the details of the new venture are yet to be disclosed, it has been revealed that CyberKongz's game, Play & Kollect, will also be migrated to the Ronin network.

Elon Musk has launched x.com website that points directly to Twitter. He also promises to transform the iconic blue bird logo into the letter "X" within a single day. According to the billionaire, this rebranding effort is aimed at transforming Twitter into an all-in-one "everything app," serving not only as a social media platform but also as a payments app and messenger. In the wake of the news, the X token from an unrelated NFT marketplace with the same name skyrocketed by 1000%. (edited)

NFT royalties on Ethereum hit an eye-popping 699,816 ETH, roughly translating to $1.8 billion. However, data analytics firm Nansen's deep-dive analysis points to an unsettling trend. Despite sustained NFT volumes in 2023, royalties for this year only constitute 9.4% of the total payout, a stark contrast to 2022, which accounted for over 64% of the total ETH paid. The culprit behind this disparity is the downward trend in effective royalty rates, which fell from 2.5% in 2022 to a scant 0.6% by July 2023. Some NFT projects such as Yuga Labs, behind popular initiatives like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), are among the few benefiting, receiving 9.4% of all royalties.

Web3 studio Toonstar is currently developing an animated satirical series named FORTUN3. The show's storyline draws inspiration from the real-life events surrounding the FTX exchange, spotlighting Sam Bankman-Fried. The release of the series is scheduled for this coming fall. Viewers will have the opportunity to interact with the show through an online game that can be accessed via an NFT.

Altr, a marketplace utilizing NFTs to trade in luxury assets, made headlines by successfully selling an NFT-backed Ferrari F40 worth $2.5 million. Instead of receiving the vehicle, the buyer got a digital ownership certification in the form of an NFT. The seller, meanwhile, has pledged to store and maintain the car until the owner claims the physical asset. Additionally, Altr offers fractional NFT ownership, empowering several investors to collectively own a high-value item. A tricky choice: to purchase an NFT for a Ferrari wheel or an entire Opel?