NFT market updates from 2/18/22

Top 5 NFTs ($ Sales Rev):

1.Bored Ape Yacht Club #8675: 336.16K
2.Bored Ape Yacht Club #5978: 332.94K
3.Bored Ape Yacht Club #7682: 258.77K
4.Noun #193: 252.66K
5.Bored Ape Yacht Club #6065: 252.52K

Top 5 Marketplaces ($ Sales Volume):

1.OpenSea: 89.33M
2.LooksRare: 73.28M
3.BloctoBay: 4.95M
4.NBA Top Shot: 2.22M
5.Axie Infinity: 1.44M

Picasso’s Granddaughter Says Family Will Continue Producing NFTs

Marina Picasso says her son’s NFT collection has been endorsed by Claude Picasso, even after initial pushback from family members.

Their NFT collection, titled “Man and the Beat,” has struggled to sell at its high mint price of 2 ETH each (roughly $5,800) since reports surfaced that Claude Picasso, head of the Picasso Administration, did not initially approve of the NFTs. Despite celebrities like singer John Legend promoting the project, few have actually sold, since the collection was launched almost three weeks ago.

Decentralized marketplace Origin Protocol is still hosting the collection via a custom website.

Nike sues Michigan-based marketplace over virtual sneakers sold as NFTs

Nike is suing a Michigan-based resale marketplace for selling digital versions of the brand’s sneakers.

In early February, New York-based law firm DLA Piper filed the lawsuit against StockX, a sneaker and streetwear resale company established by Josh Luber and Quicken Loans founder Dan Gilbert. The 50-page complaint claims StockX is illegally using Nike’s trademark with its newly launched Vault NFT service.

Major brands like the NBA, Bud Light and McDonald’s have also started experimenting with ways to use the digital assets.

Universal Music Group Partners With Curio — Entertainment Giant Plans to Use NFT Platform for Labels, Recording Artists

UMG says Curio will be a “dedicated global outlet for future officially licensed NFT projects” for the company’s labels and recording artists worldwide.

The non-fungible token (NFT) ecosystem has become a billion-dollar industry very quickly and UMG follows many well known brands that have entered the space.

About us by ProjectX is a launchpad for NFT issuers, Celebrities, KOLs, and other key figures who would like to set up pools of NFTs and raise funds for it via a public sale (IDO style). Project X works to provide the most secure and simplified way to gain exposure to the NFT market with the use of pools and Indexes. The aim is to create different themed pools of NFTs which include Music, Digital Art, Sports Cards, and KOL issued NFTs to name a few. They have also signed partnerships with Polygon, Terra Virtua, LOCG, Glimpse and more than 10 other blockchain companies.

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