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NFTS HIT $158M WEEKLY SALES, SKY MAVIS LAYS OFF 21% OF WORKFORCE: NIFTY
NEWSLETTER

NFTs recorded a weekly sales volume of $158 million, showing a strong weekly
performance compared to the start of November.

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In this week’s newsletter, read about how non-fungible token (NFT) sales have
continued their upward momentum, and find out why Sky Mavis, the company behind
Axie Infinity, laid off 21% of its workforce. In other news, crypto exchange
Kraken is winding down its NFT marketplace and FIFA and Mythical Games will
collaborate on a blockchain game. 


NFTS RECORD $158 MILLION WEEKLY SALES VOLUME, LED BY ETHEREUM, BITCOIN

NFTs continued to show strong weekly sales, recording $158 million in Nov.
18–24. While the data shows a 12.7% decrease compared to the previous week, the
volume remained above its levels at the beginning of November. From Nov. 4–10,
the weekly sales volume was only $93 million.

NFTs are also on track to end November on a strong note. In October, NFTs
recorded $356 million in sales. Meanwhile, November had already recorded a
volume of more than $400 million. 

Continue reading


SKY MAVIS LAYS OFF 21% OF WORKFORCE, PLANS NEW AXIE INFINITY GAME

Axie Infinity creator Sky Mavis laid off 21% of its staff as it plans to
allocate its resources to a new Axie Infinity game and other projects. Sky Mavis
co-founder and CEO Trung Nguyen said that the decision to lay off employees was
a shift in priorities. 

Axie Infinity NFTs, which had a floor price above $700 in 2022, decreased in
value to a floor price of $0.33 on Nov. 25, reflecting declining interest in
NFTs. Still, Nguyen told Cointelegraph that reducing the workforce was not tied
to NFT market trends. 

Continue reading


KRAKEN WINDS DOWN NFT MARKETPLACE

Crypto exchange Kraken will initiate a three-month withdrawal period for its NFT
marketplace before entirely shutting it down. An email seen by Cointelegraph
suggests that the marketplace will start a withdrawal-only mode on Nov. 27.

In a statement, a Kraken spokesperson said that the decision to close their NFT
platform was to shift resources into new products. The spokesperson added that
they’ve informed their customers of the changes and that the team will support
users as they move their NFTs to their wallets. 

Continue reading


FIFA, MYTHICAL GAMES COLLABORATE TO LAUNCH BLOCKCHAIN GAME FIFA RIVALS

Web3 gaming studio Mythical Games and Federation Internationale de Football
Association (FIFA) announced a partnership to launch a free-to-play soccer game
on iOS and Android. The game will be called “FIFA Rivals” and let gamers manage
soccer clubs and compete against other players. 

The Mythos Foundation is tasked with building the game’s crosschain
infrastructure, creating an NFT economy and supporting gaming guilds. One of
Mythical’s early projects was the NFT game Blankos Block Party, which allows
gamers to create and customize characters in an open-world game setting.

Continue reading

Thanks for reading this digest of the week’s most notable developments in the
NFT space. Come again next Wednesday for more reports and insights into this
actively evolving space.

Explore more articles like this

Subscribe to the Nifty Newsletter

Your go-to source for staying on top of market trends, and emerging artists, and
unlocking opportunities in the NFT landscape. Delivered every Wednesday


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 * #Kraken
 * #Football
 * #Games
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 * #NFT
 * #Axie Infinity


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