Skip to main content

NFTs Start Climbing Up Price Ladders Again as Bitcoin, Ether Show Continuous Rally

The market for non-fungible tokens (NFTs) seems to be on a revival sprint now that the crypto market is on a bull run. With cryptocurrencies like Bitcoin, Ether, Solana, and Polygon pumping in value, a bunch of NFT series associated with these altcoins have started to be climb up the price tracker. NFTs are digital collectibles that are built to be supported on blockchain networks. From game characters and cartoons to artists and artworks — NFTs can be inspired by an array of people, places, or characters.

Pudgy Penguins is one crypto project that for now, is garnering more value after seeing a slump in these previous recent months. Built on the Ethereum blockchain, the NFT series is a collection of 8,888 NFTs that resemble cartooned versions of penguins. his week itself, the trading volume of these NFTs have shot up by 394 percent, a Decrypt report said citing data from the CryptoSlam tracker.

After having traded lowly in recently months, the prices of Pudgy Penguins NFTs has spiked by 74 percent. At present, the cheapest Pudgy Penguin NFT is priced $21,289 (roughly Rs. 17.7 lakh).    Around October, the cheapest NFT was priced $9,000 (roughly Rs. 7.50 lakh) worth of ETH.

Anime-inspired NFT series Azuki, Ethereum NFT project Milady Maker along with Solana projects Claynosaurz and Chads have seen spikes in their prices these recent weeks, the report said.

This surge in NFT pricings come as a refreshing change of pace from this year's September, when a report had claimed that among the top 8,850 NFT collections by market cap, 18 percent were worthless, and 41 percent saw their prices drop to around $5 (roughly Rs. 415) to $10 (roughly Rs. 835).

It is notable, that in the backdrop of these NFT revivals, Bitcoin and Ether are trading at their respective nineteen month highs. While BTC is trading at $41,738 (roughly Rs. 34.8 lakh), ETH is priced around $2,228 (roughly Rs. 1.85 lakh). Similarly, Solana and Polygon are also seeing more gains than dips that is launching NFT projects linked to them up the price ladder.

NFTs peaked in September 2021 when sales of these digital collectibles managed to amass around $881 million (roughly Rs. 7,344 crore). However, as of November this year, NFT sales only managed to bring-in $10.85 million (roughly Rs. 90 crore).

Is the Samsung Galaxy Z Flip 5 the best foldable phone you can buy in India right now? We discuss the company's new clamshell-style foldable handset on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.


from Gadgets 360 https://ift.tt/Vn91oes

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Xiaomi Offers Free Xiaomi 12 Pro Upgrade to Mi 11 Ultra Users Facing Wi-Fi Issues

Xiaomi is offering a free upgrade to a Xiaomi 12 Pro for Mi 11 Ultra users who are facing Wi-Fi issues. These users also have the option to further upgrade to the company's latest Xiaomi 13 Pro by paying an extra fee of Rs. 30,000. Just recently, the company extended the warranty of the Mi 11 Ultra alongside other smartphones by two years, after users complained of camera and motherboard issues. The current offer — including the free upgrade and the paid one, is extended to the Mi 11 Ultra users who are having trouble with Wi-Fi on their handsets. The Xiaomi India President Muralikrishnan B announced the offers in a video message via Twitter. He added that the  Mi 11 Ultra users who had previously paid and upgraded their handsets to the Xiaomi 12 Pro will be offered a full refund. They will need to contact the company online or through the nearest Xiaomi service centre. Notably, this refund is only applicable to users who upgraded their handsets due to Wi-Fi issues....
Post a Comment
Read more

Softbank CEO Says He is Heavy User of ChatGPT Speaks to OpenAIs Sam Altman Often

SoftBank Group 's Chief Executive Masayoshi Son said on Tuesday he is a "heavy user" of ChatGPT, the artificial intelligence-powered chatbot from Microsoft -backed startup OpenAI. Son said he is speaking "almost everyday" to OpenAI CEO Sam Altman , who has made high-profile visits to Tokyo this year as he looks to capitalise on interest in generative AI and exert influence on the regulation of the burgeoning technology around the world. "I am chatting with ChatGPT everyday - I am a heavy user," Son told shareholders of the group's telecoms subsidiary. Son has stepped back from public pronouncements in recent months to focus on the planned listing of chip designer Arm as his technology investment conglomerate books heavy loss due to the sliding value of its portfolio. The group holds its annual general meeting on Wednesday with the market looking for details of Son's investment outlook at a time when excitement over AI is driving capital...
Post a Comment
Read more