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NFT sales plummet to 16-month low after FTX blowup

Updated: Dec 30, 2022

Edition #44 - 12 DEC 2022

Aggregate NFT sales volume in November was less than $400 million.

Volumes are still in the gutter since their boom last year – weeks after FTX collapse, NFT volumes have plummeted to a 16-month low.

Trading activity hasn’t seen such lows since July 2021, when OpenSea – the world’s largest NFT marketplace – was the only major trading venue in town.

gaming developments

  • Axie Infinity announces expanded vision in its Axie Core update, linking collectability and play;

  • Decentraland will now let you become a virtual landlord by allowing land renting to other players;

  • Upcoming game Kiraverse sells out Kira Genesis collection, raking in over $1.5 million;

  • Illuvium announces private beta for its Overworld game launching on 12th December.

metaverses & Adoption


  • Bancor DAO mulls proposal for self-arbitrage bot on Bancor DEX to cover $26 million deficit;

  • Coinbase takes a swipe at Tether, tells customers to switch to USDC stablecoin;

  • Chainlink’s first staking pool pulls in $170 million of LINK tokens, hitting community limit after 2 days;

  • Over $500 million flew out of Solana in a week, DeFi TVL down 63%;

  • Waves' USDN stablecoin depegs, Korean regulator issues warning;

  • MakerDAO may expand non-cryptoasset portfolio with BlockTower, Centrifuge;

  • 1inch tokens worth over $100 million unlocked in December.

funding rounds

  • Crypto-focused tax and accounting platform Bitwave raised $15 million in a Series A funding round led by Hack VC and Blockchain Capital. SignalFire, Valor Equity Partners, Arca, Pulsar Trading and Alumni Ventures Blockchain Fund are among investors;

  • DeFi derivatives protocol Perennial raised $12 million in a Seed funding round led by Polychain Capital and Variant, with participation from Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures, A Capital and others;

  • ​​Web3 developer platform Fleek raised $25 million in a Series A funding round led by Polychain Capital. Coinbase Ventures, Digital Currency Group, Protocol Labs, Arweave, North Island Ventures, Distributed Global, The LAO and Argonautic Ventures are among investors.


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