NFT Dawn

🖼 RWA platform Swarm Markets to release NFT-tokenized gold The EU’s Markets in Crypto-Assets Regulation (MiCA) stablecoin rules are scheduled to take effect in just over one week. However, Berlin-based RWA tokenization platform Swarm Markets has identified a potential solution by issuing a gold-backed NFT as an asset-backed token.  Swarm Markets intends to enable individuals to acquire NFTs, which represent tangible gold ownership. There will be a London-based Brink’s vault where the gold bars that support the tokenized assets will be stored.

🖼 Floor Protocol Announces V2 Beta for NFT Index and Yield Earning Floor Protocol, the pioneer behind BT404, the world’s first NFT index that allows users to earn yield on NFTs, has announced the launch of its V2 beta. Users can access their V1 assets through the platform at v1.fp.io. Floor Protocol is an NFT-Fi liquidity layer that is based on the FLOOR token. It performs daily sweeps of NFT collection floors and earns yield by putting these assets to work in DeFi. The generated yield is then fed back to the Floor Wars, the ultimate goal being to achieve larger weekly sweeps.

🖼 Mark Cuban sells Pudgy Penguin for $30,000 along with several other NFTs Billionaire Mark Cuban has sold more than a dozen NFTs in recent days including a Pudgy Penguin for more than $30,000, according to one of his OpenSea wallets. The wallet associated with Cuban also appears to be trying to sell Dallas Mavericks-themed Proof of Culture NFT for nearly $50,000.

🖼 NFT sales drop 12% as Ethereum dominates, Polygon surges According to CryptoSlam, total sales for the last seven days stood at just below $100 million and involved over $785,000 buyers and sellers in 1.4 million transactions.  Ethereum (ETH) was once again the most active blockchain for NFT sales, leading the pack with $38.4 million worth of transactions. Notably, Ethereum experienced a surge in wash trading last week, with money earned from the activity going up nearly 9.5% to $37.69 million.

🖼 NFT Sales Plunge 21% Amid Broad Crypto Market Decline NFT sales have significantly decreased this week, correlating with the broader downturn in the crypto markets. As of press time, data indicates that NFT sales reached $102,328,020 over the last seven days, according to cryptoslam.io. This drop occurred despite a 74.62% rise in buyers and a 64.31% increase in sellers. Among the 21 chains, Ethereum led with $38.46 million in sales, though ETH-based NFT sales dipped 2.62% this week.

🖼 Gala Games Hosts Live Town Hall and Launches New NFT Releases Gala Games is set to host a live Town Hall for its popular farm simulation game, Common Ground World (CGW), today at 8 AM PT. According to Gala News, the event will be streamed live on the Gala Games YouTube channel, where community members can tune in for the latest updates, engage in live chats, and participate in an AMA session.

🪙 Ethereum ETF issuers working to address 'reasonable' comments from SEC by Friday: Sources Prospective spot Ethereum ETF issuers received comments from the SEC last week regarding their S-1 forms with a deadline of this Friday to get them turned around, according to two sources. While the issuers saw their 19b-4 forms approved in May, they still need the S-1 forms to become effective before trading can begin — a process with no strict deadline. These forms are currently being reworked and sent back to the SEC for further comments before being reworked again until they’re ready.

💰 Bitcoin hits one-month low as altcoin sell-off triggers $455 million crypto liquidation Bitcoin’s (BTC) price dropped to a one-month low following three consecutive trading days of outflows from its spot exchange-traded funds (ETFs). The leading digital asset surged to $67,000 before falling to around $64,500 during early Asian trading hours. Other major cryptocurrencies like Ethereum (ETH), Solana (SOL), and Toncoin (TON) also saw significant declines, each losing over 3%.

🇺🇸 US SEC pushes back against Ripple's efforts to lower its fines saying the firm 'is agreeing to nothing' The U.S. Securities and Exchange Commission rebutted Ripple's push for lower fines in its case against the regulator and said circumstances were different when it set penalties for Terraform last week. Ripple, which has been in a legal battle with the SEC since 2020, compared the regulator's proposed $2 billion fine for selling to institutional investors to fines against Terraform Labs in a "notice of supplemental authority" filed to a New York district court on June 13.

🪙 Tether Debuts New 'Synthetic' Dollar Backed by Tokenized Gold in Tokenization Push Tether, the company behind the $110 billion stablecoin (USDT), debuted Monday a new token minting platform called Alloy on the Ethereum network that lets users create tokens collateralized by Tether's tokenized gold (XAUT). "Alloy by Tether is an open platform that allows to create collateralized synthetic digital assets and will soon be part of the new Tether digital assets tokenization platform, launching later this year, Paolo Ardoino, CEO of Tether," said in an X post.