This week's newsletter highlights Galaxy Digital's use of a nonfungible token (NFT) of a historic violin as loan collateral, alongside a drop in NFT sales volume in May. The United States Treasury Department's concerns about NFTs and Bitcoin NFT milestones are also covered. Dapper Labs CEO Roham Gharegozlou's statement on NFTs not being securities after a lawsuit settlement is discussed. The newsletter also mentions the tokenization of a 300-year-old violin by Galaxy Digital and Animoca Brands co-founder Yat Siu for a loan. NFT sales saw a significant decline in May, with Bitcoin-based NFTs experiencing a 68% drop. The Treasury Department's risk assessment on NFTs, including security risks like terrorist financing, is outlined. Bitcoin-based NFTs reached an all-time sales volume of $4 billion, surpassing Ethereum-based collectibles. Dapper Labs settled a lawsuit by agreeing to pay $4 million and ensuring decentralization of the Flow blockchain. Stay tuned for more updates on the NFT space next week. Read more AI-generated news on: https://app.chaingpt.org/news

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