As the NFT market shows signs of recovery, CryptoKitties, the originator of blockchain games that has not been seen for a long time, has returned to the public eye with new products.
New NFT surged more than 37 times in two days, and TG game is about to be launched
On August 31, CryptoKitties shared the new project egg in a tweet, but did not reveal more details at the time. However, Dapper Labs CEO Roham Gharegozlou tweeted that egg and Flow will have a certain connection.
According to the OpenSea page, egg is an Ethereum-based NFT that completed a public minting event on September 1, with a total of 3,134 eggs, which are mainly divided into three levels: common (2,415), uncommon (616), and rare (103), and each Egg NFT has a different description.
Check out this collection of NFTs:
opensea.io/collection/ckatzegg/overview
Under the appeal of CryptoKitties, the former NFT top-tier, egg has seen a gratifying rise, with poopie, the co-founder of the NFT project Doodles, also becoming a buyer of egg.
OpenSea data shows that as of September 3, the floor price of egg exceeded 0.3 ETH in less than 2 days, more than 37.5 times the minting price (0.008 ETH), with a total transaction volume of 491 ETH and 1,217 holding addresses. In the top trading list of the past 24 hours, egg has remained at the top.
Soon after, CryptoKitties hinted that egg was involved in P2E gaming and announced a Telegram game called âCryptoKitties: All The Zen.â
Compared with other blockchain games, Telegram itself has a huge traffic pool, and games running on this type of social platform have advantages such as low entry and economic barriers, which may pave the way for the new CryptoKitties game to better open up the market.
Currently, the TG game has opened a Telegram channel, and users can join the waiting list through the relevant link. The game requires linking wallets Flow Wallet and Coinbase Wallet, but there are still 42 days before the game is officially opened.
NFTs see short-term recovery, but still face lack of confidence and regulatory challenges
After experiencing a long period of market downturn, NFT has recently shown signs of recovery. According to data from NFT tracking platform CryptoSlam, total NFT sales reached US$82.656 million in the past week, which has slowed down compared with the monthly transaction volume of more than 41.5%. The number of NFT transactions has also increased significantly, increasing by 28.2% and 22.3% respectively.
Among them, the transaction volume of NFTs on mainstream chains has also rebounded. According to CryptoSlam, in the past 24 hours, the sales data of Ethereum, Solana, Polygon and Bitcoin have basically shown double-digit growth, among which Ethereum led the way with a daily sales growth of 34.9%.
In addition, the daily transaction volume of Flow associated with the CryptoKitties game also more than doubled, increasing by 102.8%.
However, the current NFT market still lacks confidence. According to a survey data released by CoinGecko in August, about 54% of survey participants believe that NFT cannot recover in this cycle, of which 29.5% of survey participants firmly believe that NFT cannot recover in this cycle, and 24.7% are still bearish on the NFT market.
In contrast, builders and onlookers are more optimistic, with 28.9% of builders and 29.1% of market onlookers believing that NFTs will recover in the near future.
In addition, NFT is facing the risk of regulatory charges. Recently, OpenSea CEO Devin Finzer posted on the X platform that the company has received a Wells notice from the US SEC. The SEC believes that the NFTs on the platform may fall into the category of securities and threatens to sue OpenSea.
But Finzer said the move would have a serious impact on hundreds of thousands of artists and creators and could stifle innovation. NFTs are essentially creative commodities, and the SEC should not regulate digital art like it does collateralized debt obligations.
While standing firm on its position, OpenSea also pledged $5 million to help pay legal fees for NFT creators and developers who received Wells' notice and vowed to defend the interests of the industry.
Prior to this, there have been many disputes over whether NFTs are unregistered securities, including Dapper Labs being forced to spend $4 million to resolve the crisis in a lawsuit in which NBA Top Shot NFTs were considered to be illegally providing securities, and recently the digital sports entertainment and gaming company DraftKings also changed its position on NFTs being unregistered securities in order to win the lawsuit in its dispute with the National Football League Players Association (NFLPA).
#NFTâ #CryptoKitties #telegram #OpenSea
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