Bitcoin reaches 3rd highest NFT sales record ever, Ronin unveils zkEVM for gaming: Nifty Newsletter
In this week’s newsletter, read about how non-fungible token (NFT) blockchain Ronin is preparing to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) blockchain to scale Web3 games. Check out the success stories of Bitcoin-based NFTs, which ranked in the top 3 in terms of all-time sales. In other news, learn more about the need for music in the metaverse in this exclusive Cointelegraph interview.
Ronin expands Web3 games with new zkEVM
Gaming blockchain Ronin launches Ronin zkEVM, a zero-knowledge layer 2 chain. This ZK Chain aims to expand user capacity and support game studio partners.
Initially built for Axie Infinity, Ronin now supports the broader gaming ecosystem, boasting 1.4 million daily active addresses. Sky Mavis co-founder Jeff Zirlin said the network was bracing for having to process up to 4 billion transactions every day. The zkEVM chain improves scalability, cross-chain experience, and staking rewards.
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Bitcoin NFT surpasses Ronin in all-time sales.
The Bitcoin network surpassed the Ronin blockchain and rose to third place in all-time NFT sales. According to CryptoSlam data on June 18, Bitcoin-based NFTs have achieved all-time sales exceeding Ronin’s $4.27 billion, putting Bitcoin ahead of Solana and Ethereum.
In the past 30 days, Bitcoin NFTs generated $148 million in revenue, second only to Ethereum’s $157 million, and Solana followed with $77 million. However, NFT sales have declined, with the top three chains seeing at least a 40% drop in 30-day sales.
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Music Catalog Tokenization: Web3 and the Music Industry’s Next Frontier
Tokenizing music IP could revolutionize the integration of music into virtual environments like the Metaverse. In a Cointelegraph interview, Sergio Mottola, CEO of Music Protocol and Web3 Music Association, explained that bringing music into the metaverse is currently hampered by complex negotiations with the music industry.
Executives believe that Web3’s large catalog will allow users to organize concerts and listen to music seamlessly, bypassing existing obstacles.
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Thank you for reading our digest of this week’s most noteworthy developments in the NFT space. Come back next Wednesday for more reports and insights into this actively developing space.
