🤑 Magic Eden Paying You To Trade Solana NFTs

Magic Eden, the leading Solana NFT marketplace, is shaking things up with its 'Chapter II' initiative.

Author

Ordinal Hive
May 25, 2023

Good morning:

  • NFT Market - Things seem relatively calm in the NFT space. RSTLSS takes the top spot this week, with 14.8 ETH in volume traded over the past 24 hours.

  • Trending Collections

Today's edition:

  • 🤑 Magic Eden Paying You To Trade Solana NFTs

  • 💹 The Rise Of The Blockchain King, Ordinals

  • 🎳 PBA Rolls Out Tokenized Achievements For Bowlers

  • 🐧 Pudgy Penguin NFT Success Soars With $500k Toy Sales

  • 🪙 Bitcoin Miners Ride The NFT & Memecoin Wave

  • 🐵 Should Bored Apes Or Other NFTs Be Regulated As Securities? (CT)

  • 👟 Web3 Move-To-Earn App STEPN Integrates Apple Pay (CoinDesk)

  • 🎉 In NFT Sales, BTC Jumps To No.2 Spot (CoindDesk)

  • 🎭 Web3 Has An Identity Crisis On Its Hands (Blockworks)

  • 🖼️ Who Invented NFTs? (CoinTelegraph)

  • 📈 BTC Jumps To Key Price Resistance (CoinTelegraph)

  • 🪙 Ticketing Will Be A Huge Case For NFTs(CoinTelegraph)

  • 📃 Excavating The Truth Around BTC Mining (CoinDesk)

  • ✅ Ava Labs Launches “No-Code” Web3 Launchpad (CoinDesk)

Magic Eden Paying You To Trade Solana NFTs

Magic Eden, the leading Solana NFT marketplace, is shaking things up with its 'Chapter II' initiative. They are aggregating listings from competing platforms, open-sourcing their smart contract, and removing restrictions to improve composability. As a bonus, they're offering a temporary -0.25% maker fee, essentially paying traders to buy and sell NFTs. With these changes, Magic Eden aims to solidify its position on Solana and reclaim its dominance in the NFT market.

Here are the quick facts:

  • Magic Eden is aggregating listings from rival marketplaces, providing a single destination for Solana NFT traders.

  • The company will open-source its marketplace smart contract, addressing criticisms of closed-source code.

  • A temporary -0.25% maker fee is introduced, rewarding users for buying, selling, and operating AMM NFT trading pools.

  • The move comes in response to rising competition from Tensor and aims to strengthen Magic Eden's position on Solana.

As Magic Eden embraces open collaboration and incentivizes traders, Solana's NFT market is set for an exciting chapter of growth. Traders can look forward to enhanced opportunities, increased liquidity, and a vibrant ecosystem on the Solana blockchain.

The Rise Of The Blockchain King, Ordinals

Bitcoin is proving that it's not just the king of cryptocurrencies but also a serious contender in the world of NFTs. With its Ordinals ecosystem and notable NFT collections gaining traction, Bitcoin is inching closer to the top spot.

Here are the quick facts:

  • Bitcoin is making a strong push in the NFT market, aiming to become the top NFT blockchain.

  • According to CryptoSlam, Bitcoin has secured the number two spot in NFT sales volume for the past 30 days, just behind Ethereum.

  • Organized collections like Space Pepes and Bitcoin Frogs have contributed to Bitcoin's NFT success.

  • With the growing influence of Bitcoin Ordinals and increasing popularity of Bitcoin NFTs, a "flippening" may be on the horizon.

Keep an eye out for the potential "flippening" as Bitcoin asserts its dominance in the NFT arena.

PBA Rolls Out Tokenized Achievements For Bowlers

Get ready to bowl your way into the world of NFTs! The Professional Bowlers Association (PBA) and Bowlero have launched League Bowler Certification (LBC) Awards, tokenized achievements minted as NFTs on the Avalanche blockchain. Bowlers will receive digital awards for their bowling feats, creating a loyalty program on steroids.

Here are the quick facts:

  • PBA and Bowlero introduce NFT-based LBC Awards for bowlers.

  • These soulbound tokens cannot be traded or sold.

  • Future plans include earnable points for physical products and potential expansion to all bowling alleys. 

This innovative initiative blends the physical world of bowling with the digital realm of NFTs, creating a unique experience for bowlers and showcasing the potential of Web3 integration.

Pudgy Penguins NFT Success Soars With $500k Toy Sales

With the release of “Pudgy Toys,” Pudgy Penguins breaks new ground by bridging the gap between NFTs and mainstream consumers. Their successful foray into physical toys, accompanied by an online platform, showcases their commitment to making blockchain technology accessible and appealing to everyday customers. 

Here are the quick facts:

  • Pudgy Penguins’ NFT project expands into the physical world with the launch of “Pudgy Toys” and achieves remarkable sales of $500k and 20k Amazon sales in just two days.

  • Luca Metz's leadership has driven the project's surge since taking over last year, with 'Pudgy Toys' being the latest innovation to reach a broader audience beyond the web3 community.

  • Pudgy Penguins' strategic approach includes memes, social media engagement, and turning the NFTs into a worldwide brand rather than just a collection.

The project's rapid growth, sales milestones, and expanding fan base are a testament to their innovative vision and Luca Netz's transformative leadership.

Bitcoin Miners Ride The NFT & Memecoin Wave

Looking ahead, Ordinals has opened doors to new possibilities on the Bitcoin network, but concerns over network congestion persist.

Here are the quick facts: 

  • Ordinals has enables the influx of NFTs and meme-coins on the Bitcoin blockchain.

  • Transaction fees surged, comprising over 40% of miner revenues during the craze.

  • The durability of the trend and its impact on Bitcoin’s core functions remain uncertain.

As the mining landscape undergoes a seismic shift, valuable use cases may emerge, reshaping the perception of Bitcoin beyond its traditional functions. It's a thrilling time for miners, investors, and the crypto community as they navigate this transformative era.

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