7-Day Market Moves

The NFT market saw a mixed week, with the Forkast 500 NFT index down 4.59%. Sales on Ethereum fell 14.4% in the past 24 hours, while Bitcoin network sales dropped 9.34%. However, uncategorized Ordinals surged 74.13% to $1.54 million in sales. The Ethereum-based Pudgy Penguins collection became the 19th largest in all-time sales, surpassing $257 million.

While the overall market experienced some decline, specific collections and categories demonstrated resilience and positive performance, indicating the nuanced nature of the NFT landscape.

Top Blockchain Games (7 Days)

Top NFT Marketplaces By Sales Volume (7 Days)

Top  NFT Collections By Sales Volume

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No Gas Fees, Just Nifty Collections In the New Kraken NFT Marketplace

TL:DR

• Kraken launches its NFT marketplace with 250+ unique collections.
• Gasless transactions offered within the platform.
• NFTs from Ethereum, Solana, and Polygon supported.
• User-friendly platform accepts fiat and crypto, compatible with MetaMask and Phantom wallets.

San Francisco-based centralized exchange, Kraken, has officially launched its NFT marketplace, offering a curated selection of over 250 unique NFT collections. Notably, the platform stands out with its gasless experience, meaning users won't be charged for transactions when buying or selling digital assets, regardless of market conditions. However, gas fees will still apply for asset transfers on and off the platform.

Kraken has been diligently working on their NFT marketplace for over a year, starting with a public beta version of its testnet last November. Initially supporting NFT collections from Ethereum and Solana, the platform has now expanded to include digital collectibles from Polygon, such as the popular "red-hot Reddit collectible avatars." Kraken aims to provide a user-friendly experience, accepting both fiat and cryptocurrencies. This means individuals can bid on NFTs even without owning any tokens. Currently, the platform supports MetaMask and Phantom wallets, with plans to connect with WalletConnect in the future.

Kraken's entrance into the NFT marketplace comes amidst increased regulatory scrutiny on centralized exchanges by the US government. With established players like OpenSea and Blur dominating the space, Kraken faces strong competition.

In other news,

• Binance NFT Marketplace adds Bitcoin NFTs. Read more.

Louis Vuitton's NFT Trunks, Anyone?

TL: DR

• LV launches a limited edition NFT collection called "Via"
• The collection features Treasure Trunk NFTs priced at €39,000 ($41,693).
• The NFTs offer select customers exclusive access to forthcoming products and unique experiences.

Bonjour! French luxury fashion brand Louis Vuitton has launched a limited edition NFT collection called "Via." Each piece in the collection, known as the "Treasure Trunk," is priced at €39,000 ($41,693) and offers exclusive access to forthcoming LV products and experiences. The NFTs in the collection are non-transferrable, promoting loyalty and discouraging quick reselling.

Louis Vuitton's Via project represents a shift from its previous NFT venture, as it aims to provide customers with exclusive access to unique products and experiences. The Treasure Trunks, available for over 160 years, are highly sought after, with a price tag of tens of thousands of dollars. Holders are not allowed to sell or transfer their trunks, making them "soul-bound collectibles." While Via offers a glimpse into the metaverse and NFTs, Louis Vuitton remains focused on maintaining exclusivity and value in their NFT offerings.

In other news,

• Puma teams up with NBA Star LaMelo Ball and the Gutter Cat Gang for an exciting NFT sneaker release. Read more.
• Pudgy Penguins CEO introduces licensing platform, expanding NFT revenue beyond airdrops. Read more.

Haun Ventures Bets Big on Argus In a $10M Seed Round

TL: DR

• Haun Ventures leads a $10M seed round for Web3 gaming studio Argus.
• Argus introduces the World Engine, a blockchain-gaming SDK for creating Web3 gaming ecosystems.
• Funding will be used to scale Argus' team and expand their infrastructure.
• The investment reflects a resurgence in funding for blockchain-based games.

Haun Ventures, a crypto investment firm, has led a $10 million seed round for Argus, a prominent Web3 gaming studio. The funding round also attracted participation from Robot Ventures, Anagram, Dispersion Capital, Alchemy, and individual investors like former Coinbase CTO Balaji Srinivasan.

Argus also unveiled the World Engine—a powerful blockchain-gaming software developer kit (SDK). The tool will empower developers to create their own Web3 gaming ecosystems, expanding the possibilities of immersive gaming experiences.

Scott Sunarto, the CEO of Argus, envisions a future where developers have the freedom to push the boundaries of their creativity. With the newly secured funding, Argus plans to scale their team and develop their studio and tooling infrastructure.

Web3 gaming is gaining momentum once again, with renewed investment activity in the industry. Recent examples include a16z leading a $40 million investment round for CCP Games and a $25 million Series A led by the firm for Here Not There, a Web3 gamified-social protocol.

In other news,

• Aave-Backed Lens Protocol raises $15M to amplify the 'social layer' of Web3 finance. Read more.
• HyperPlay secures $12M in Series A funding. Read more.

Fractal to Make Crypto Integrations Simple for Game Devs

TL: DR

• Fractal launches Fractal Studio (FStudio) to integrate crypto into video games.
• FStudio empowers developers to "build," "acquire," and "monetize" projects with NFTs and in-game crypto payments.

Fractal, a gaming-centric Web3 startup and NFT marketplace, has unveiled Fractal Studio (FStudio), a revolutionary product aimed at simplifying the integration of crypto features into video games. With FStudio, developers can now add crypto integrations to their titles without the need for extensive coding, empowering them to "build," "acquire," and "monetize" their projects. This includes the ability to transform in-game assets into NFTs, facilitate credit card payments for in-game crypto items, and create personalized in-game NFT shops.

Fractal's co-founder, Justin Kan, who is also known for co-founding Twitch, expressed the company's journey over the past 18 months, evolving from a game-focused NFT marketplace to a comprehensive Web3 game platform and launcher. FStudio represents Fractal's foray into developer software, offering game creators an extensive gaming ecosystem. By hosting their games on Fractal's desktop game launcher or web platform, developers gain access to a wide audience of gamers eager to explore new and immersive experiences.

Fractal's approach focuses on creating engaging and enjoyable gaming experiences that appeal to mainstream gamers and developers. Rather than solely relying on play-to-earn mechanics, Fractal aims to strike a balance between fun gameplay and optional crypto elements. By fostering an organic game economy and offering diverse features like tournaments, events, giveaways, and crafting mechanics, Fractal aims to create a sustainable gaming ecosystem that stands out in the competitive Web3 landscape.

In other news,

• Polemos launches platform for renting digital assets without collateral. Read more.
• Gamestop fires CEO, Matt Furlong. Read more.

Meme of the week

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