After the FTX liquidity crunch crypto prices are down, which is affecting the NFT market. “Blue chip” BAYC NFTs are seeing sinking prices as ETH falls and owners potentially panic-sell their assets.
The creators of move-to-earn game StepN, Find Satoshi Lab, launched an Ethereum and Solana NFT marketplace called MOOAR. It enforces creator-set royalties and has a monthly subscription fee.
The FTX crisis, like the fall of Terra, affected a lot of crypto projects, against this background, HUSD and USDD stablecoins lost their binding to the dollar.
Crypto businessman Martin Mobarak destroyed a Frida Kahlo drawing worth $10 million for his NFT project. Sadly, the project has so far sold NFTs for only $11,000, and Mobarak has broken Mexican law with his stunt.
Meta recently announced that it has started testing minting and selling NFTs on Instagram with a small group of creators in the US along with expanding its NFT showcase feature.
The collapse of FTX crypto exchange and the hype around it has put the company’s auditors in the spotlight. Apparently, the company that confirmed that FTX earned $1 billion in revenue in 2021, loves a good party in Decentraland metaverse.
