This week, Bitcoin NFTs have their moment. They are just behind Ethereum NFTs when it comes to sales. NFT loan platforms and services are also growing in popularity. Blur’s Blend dominates the NFT lending industry with 82% market share. Binance’s NFT loan service allows holders to use blue-chip NFTs to secure ETH loans.

Nike’s.SWOOSH has also released its first collection digital sneakers. The platform has sold over $1 million so far. However, the minting process was not easy for the eager buyers who faced many delays and technical problems.

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This Week’s Alpha

Bitcoin NFTs, go! According to CryptoSlam , NFTs have grown in popularity and are now the second most popular cryptocurrency in terms of transactions per blockchain. They only trail Ethereum. Bitcoin NFTs is a relatively recent phenomenon. They didn’t exist prior to the implementation of inscriptions in the Bitcoin mainnet, which was January 2023.

  • Space Pepes on the Moon: The Bitcoin based “Space Pepes NFTs” jumped to top of NFT leaderboard Thursday and became the Most Traded NFTs for a 7-day period. Data from Cryptoslam show that over $7.3 Million worth of this collection was traded.
  • Inscriptions Boom: The number Ordinals inscriptions spiked over 3 million in the month of August following the introduction BRC-20 to token standard… But the vast majority of them are text.

Nike’s jagged road to $1M:. SWOOSH, Nike’s Web3 collectibles, launched its first NFT shoe collection, Our Force 1, and has exceeded $1 million in sales , despite a bumpy start. After numerous delays, the sale began on May 15, but was plagued by multiple technical problems that impaired the user’s experience. The “General Access Sale” began on May 24, two weeks later than originally planned, and was also plagued by issues related to traffic and technology. Many were unable to mint. Nike is still running the sale, but has declared it a huge success on Twitter despite many NFTs not selling.

  • Drop-master or drop-saster: Nike is known for their exclusive sneaker releases that sell out within seconds. However, some users complained that the.SWOOSH release had many technical problems.

NFT Lending is Trending: NFT loan platforms and services are enjoying a moment as buyers look for new ways to get into the NFT market, without spending thousands of dollars.

  • Blend In the first half of this month, NFT marketplace Blur released its lending platform Blend. According to DappRadar, Blend has already captured 82% market share in NFT lending.
  • Binance Loan for NFT: The top crypto exchange Binance launched a new feature that integrates into its NFT market, allowing digital asset owners to secure ETH loan by using NFTs.
  • Astaria Astaria was founded by the former CTO for DeFi protocol SushiSwap. It allows NFT owners to rent their assets out to traders that may not wish to pay a lot of money to buy a high-end NFT.

The Rise of Projects

RSTLSS x Claire Silver: Pixelgeist (RSTLSS)

Who is: AI artist Claire Silver digital fashion platform

What is Pixelgeist is a 2,136 edition NFT collection that combines fashion, art, and technology with vibrant and colorful works of art created by artificial intelligence. Silver’s Pixelgeist collection includes new artwork in various edition sizes. Each piece depicts a “Pixelgeist,” which is described as a “digital entity that embodies an AI soul trapped inside a portrait”.

How? The minting process consisted of two questions, which determined the combination of clothing and artwork that each collector would receive. The collection is sold out but many items are still available on the OpenSea secondary market.

Other News

Dogeumentary: Jeff Wilser, columnist, checks in with TriDog. TriDog is a member of the Own the Doge DAO and is working on a wild document that tells the memecoin story.

The Divine Path: Ethereum’s most-grossing trading cards game has revamped the project roadmap and laid out plans for a mobile version to be launched on both Android devices and Apple devices before 2023.

Metaverse master China’s Web3-friendly Nanjing city, which launched a $1 Billion Blockchain Fund, has launched , a state-backed organisation to promote metaverse studies throughout the country.

Virtually slaying – Decentraland hosts a Pride event that includes virtual art installations, live music performances and a three-day Pride festival .

Non-Fungible Toolkit

After Blur launched Blend, the NFT lending market saw a huge surge in interest. Blend is already doing hundreds millions of dollars in trading volume. Astaria and Binance are two more companies that entered the market in the past week. They both have unique products and services.

Before you decide to put your NFT into one of these lending protocols you need to know the basics of how they work. You also need to be aware of all of the options you have for earning money from your NFT. This guide will cover all the bases.

Toby Leah Bochan is the editor.