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It’s all-change for NFT marketplaces, following the information that BAYC creator Yuga Labs and cross-chain NFT platform Magic Eden revealed that they’re collaborating to launch a brand new Magic Eden ETH market.
Described as “the primary main ETH market contractually obligated to honor creator royalties”, {the marketplace} is anticipated to launch earlier than the tip of 2023.
Whereas little else was detailed, the announcement got here only a day following OpenSea CEO Devin Finzer saying on X that his firm is shedding half of its workers in a re-orientation of OpenSea’s staff and future imaginative and prescient. In a quest to innovate quicker and be a market pioneer somewhat than a follower the NFT market, which was the primary of its form when launching in 2017, will endure a giant improve in direction of the brand new “OpenSea 2.0”.
In the meantime, onchain analytics firm Nansen reported a small upward development in NFT gross sales quantity since September. On the finish of October NFT gross sales reached its highest since August, and the numbers steered that the market was up by 38% because the lowest week in September.
Additional on, the week closing on ninth October noticed NFT gross sales quantity of round $56 million (29.7k ETH), in comparison with the roughly $129 million (68.6k ETH) within the week closing fifth November.
Over a 30 day interval, NFT buying and selling platform Blur accounted for the very best NFT gross sales of round $305 million (171,926 ETH), while OpenSea landed in second spot with NFT gross sales to a worth of round $100 million (37,765 ETH).
