Hola, anons!

Galactic Buzz is here to give you a break from continuously staring at candlesticks and give you an overview of how the digital asset market is doing out there. Some fundings, some milestones and some launches; let’s uncover it all on this quick galactic ride. Get seated!

Top NFT Sales Analytics 📊

The Global NFT marketplaces’ sales volume for the 7-day period is over $402.5M.

Ethereum’s new high since last June

The Ethereum NFT market experienced a significant surge on January 18, with trading volumes reaching $42.7 million, the highest since June of the previous year. This peak was followed by a slight decline, with volumes of $29.6 million, $28.2 million, and $25.6 million recorded on the subsequent Friday, Saturday, and Sunday respectively. Despite this, the weekly volume saw an increase, nearing the $204 million mark on January 15, a significant rise from $168.9 million the previous week.

The marketplace distribution saw Blur leading with 76%, followed by OpenSea at 16.4%, with CryptoPunks, X2Y2, and LooksRare trailing behind. The highest trading volume recorded over the past two years was 1.4 billion in April 2022.

Coinbase releases Instamint: an AI-generated NFT Feature

Coinbase’s NFT marketplace has introduced a new feature called Instamint, powered by AI, to simplify the process of creating NFTs. Users can create their own NFTs by simply adding a photo, a name, a description, and optionally setting the gas price in ETH, starting from $0.01. Launched in beta in June 2023, the platform allows users to trade NFTs using their own non-custodial wallets like MetaMask, without the need for a Coinbase Wallet. Coinbase also plans to decentralise the marketplace by transitioning features from its own technology to decentralised solutions and intends to support NFTs on blockchains other than Ethereum.

Tune.FM raised an LDA Capital Funding of $20M 

Web3 music streaming platform, Tune.FM, has secured a $20 million investment from LDA Capital, highlighting the growing interest in blockchain and crypto projects. Tune.FM offers a unique combination of music streaming and an integrated NFT marketplace, allowing artists to monetize their fanbase through streaming royalties and digital music collectibles using the JAM token and Hedera Hashgraph technology.

Unlike traditional models, Tune.FM aims to give artists 90% of their streaming revenue, promoting greater autonomy and direct monetization. The platform ensures artists earn instant streaming royalties for every second their music is played. The new funding will be used to expand Tune.FM’s user base, develop new products, and increase the liquidity of the JAM token. The upcoming launch of Tune.FM’s applications and negotiations for major label content licensing represent a step towards modernising artist monetization in the music industry.

Darewise partners up with Honda to create a ‘Life Beyond’

Darewise Entertainment, an Animoca Brands subsidiary, has partnered with Honda to develop Web3 automotive gameplay for ‘Life Beyond,’ an upcoming AAA sci-fi game. The collaboration will enhance the game with new elements and assets, including in-game items and activities featuring Honda. The integration of Honda’s innovation into the game’s setting aims to revolutionise in-game transportation.

Darewise, a Web3 game technology company, focuses on creating meaningful online gaming experiences and has previously partnered with ALTAVA to bring their AI-driven digital wearables into the Bitcoin Metaverse. ‘Life Beyond’ offers players a unique, immersive adventure in a new world, with a tokenized economy and NFTs. The addition of Honda’s automotive gameplay elements is expected to elevate the gaming experience.

Connect with Us!

That was one happening week with more Ws and less Ls. A fairly peaceful week in the wild web3 streets. How’s it gonna be this week though? And the one after it? Stay tuned to stay up to date. ;)

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Disclaimer: The Galactic Buzz provides news and updates from the NFT world. Always do your own research before making any investments.