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Non-fungible tokens, or NFTs, saw an uptick in sales volume for the second consecutive week, reaching $107 million — an 8.5% increase. A substantial increase in the number of NFT buyers accompanied this growth, reaching 488,141 — a staggering 89.56% rise. On the other hand, the number of NFT sellers also rose by 69.8%, totaling 198,450, signaling an improved trading environment and heightened market engagement. Below is a breakdown of what happened in the NFT market over the past week.

Unstoppable Domains and Pudgy Penguins Enable Web3 Domain Sign-In to Pudgy World Web3 domain names and digital identity provider Unstoppable Domains has announced an integration with the popular Pudgy Penguins NFT collection, allowing users to use their .pudgy domain names to access Pudgy World. According to the press release shared with Cryptonews, “this feature marks a significant step forward in virtual world accessibility and user experience by enabling single sign-on capabilities via a user-owned custom digital identity.” Therefore, users are not restricted to signing in using their traditional passwords and Web2 credentials via Google or Apple. Instead, they can use their personalized .pudgy domains to access the platform. This log-in method enables autonomy, privacy, and long-term control over their digital identities, the teams remarked. The .pudgy domain login feature will launch in the fourth quarter of this year.

NFTS AREN’T DEAD, THEY ARE JUST EVOLVING However, the glory was short-lived. NFTs are no longer the ‘coolest’ crypto innovation, but to say they are dead would be an overstatement. This is a market niche that is still attracting stakeholders beyond the crypto realm, including top fashion brands. A recent report by Coingecko revealed that 42% of the leading fashion brands globally have integrated NFTs into their product suite, either as digital collectibles or customizable avatars. More notably, NFTs have gradually evolved from the speculative JPEG era when artist Beeple sold his digital art at a Christie’s auction for a whopping $69 million. Top NFT collections such as the Bored Ape Yacht Club (BAYC) are no longer the shiny assets they once were; the floor price of one BAYC is currently at 9 ETH, a huge drop from the May 2022 high of 145 ETH.

Swarm NFT Initiative Brings Gold-Backed Assets to Users Ahead of MiCA Swarm’s latest venture will allow customers to buy a real-world asset backed by a gold bar linked to its own unique NFT. The new initiative by the German company could be promising for those interested in having greater control over their assets as the world faces increased fragility and violence. “We’re so used to having balances on banks, brokerage accounts, and elsewhere, and we have no control over those assets,” Lehes stated, noting that Swarm offers users full transparency over their store of value. “Actually bringing things on-chain, you do have the legal right to that underlying asset, and you’re actually controlling the asset through your own wallet.”

Collector’s Vault: Punk6529 Shares 10 Notable Pieces in His Collection Punk6529 has cemented his status as one of the NFT world’s leading collectors, investors, and figures. “The 6529 mission is to accelerate the development of an open metaverse,” reads his website cryptically. When asked, punk6529 replied, “Whether you call it a network society, a network state, or an open metaverse, the mission is to transition a critical mass of people to building a global network on decentralized systems.”

He did not declare compensation for 3.3 million: over 836 thousand euros in cryptocurrencies seized from NFT artist The protagonist of the story is a well-known Italian crypto-artist, among the most active in the country and also widely followed abroad. The important rewards derive from the online transfer of NFTs («non-fungible tokens»), certificates that attest to the originality and possession of a particular electronic content.

NodeMonkes leads NFT sales with over US$1 million in a day NodeMonkes, a Bitcoin-based Ordinals collection topped CryptoSlam’s daily non-fungible tokens (NFT) sales chart on Monday with over US$1 million in sales. NodeMonkes is the top Bitcoin collection with US$232.28 million in all-time sales, which ranks it 26th in the entire NFT market.

Cristiano Ronaldo Teams Up with Binance for New NFT Collection Despite Ongoing Legal Battle The upcoming collection, scheduled to be unveiled on May 29 on the Binance NFT Marketplace, will pay homage to Ronaldo’s illustrious career, showcasing highlights from his football journey, according to a recent blog post by Binance.

NFT.com Investor Sues ‘Blockchain Evangelist’ for Fraud, Threats The fraud lawsuit, filed in Delaware, targets Jordan Fried—who describes himself as a “blockchain evangelist”—and one of his ventures, Immutable Holdings Inc., which owns the NFT.com web domain.

Dolce & Gabbana sued for deceiving buyers of their NFTs A customer sued the US branch of the famous fashion house Dolce & Gabbana, claiming that the NFTs purchased lost 97% of their value due to the company's lack of effort.

Baby Doge NFT Marketplace Launches Next Week Excitement is building in the cryptocurrency and digital art communities as the Baby Doge NFT Marketplace prepares for its official launch next week. This innovative platform is set to transform how non-fungible tokens (NFTs) are created, traded, and collected, providing a new hub for digital enthusiasts and creators alike.

Trump spends day off from court hosting NFT customers at Mar-a-Lago Former President Donald Trump will spend his day off from court hosting a dinner at his Mar-a-Lago residence for buyers of his NFT trading cards, according to a source familiar with the planning.

APhone Partners with Magic Eden for 5,000 Access Pass Sale Web-based virtual phone app APhone has partnered with the popular NFT marketplace Magic Eden for an Access Pass sale aimed at Magic Eden’s 22 million monthly visitors.

OKX partners with Manchester City to create NFT commemorative shirts OKX's ambitious goal to establish itself as the "first crypto lifestyle brand" has been led by Haider Rafique, the company's Chief Marketing Officer. This strategic vision has led the cryptocurrency exchange to sign multimillion-dollar sponsorship deals with prestigious sports franchises, including the Formula 1 team McLaren and, indeed, Manchester City.

NFT market news: Sales drop as Bitcoin blockchain dominates Over the past week, the NFT market has seen sales decline by 25.48% compared to the previous week. Dominating the scene in terms of blockchain remains Bitcoin, followed by Ethereum and Solana, although all three have seen a receipt of non-fungible token revenues.

XTERIO JOINS FORCES WITH FORGE TO EXPAND WEB3 GAMING REACH In the world of gaming, user engagement is crucial for success. With the rise of Web3 technology, gaming companies are constantly seeking new ways to attract and retain players. In line with this goal, two industry leaders, Forge and Xterio, have announced a collaboration to enhance user engagement through their combined offerings

An NFT becomes the arm against cybersquatting In an unprecedented maneuver, the Boischaut auction house set a new precedent in the fight against Web3 cybersquatting. Using the disruptive power of blockchain, a formal NFT Notice has been released, marking a first in France.

NFT Buyers Almost Double, Market Volume Spikes by 25% As the crypto market revives, so does the NFT sector. This week, the number of NFT purchases has nearly doubled, showcasing a robust upward momentum.

NFT Lending Protocol NFTfi Hits $15M in Total Funding NFTfi, a leading lending and liquidity platform for NFTs, has announced the closure of its Series A1 funding round, having raising $6 million USD to bring its total funding to date to $15 million USD.

The US Government says IP infringement is all over NFT marketplaces The non-fungible token (NFT) bubble burst quite some time ago, but the US Government has only just published a report looking into the surrounding legal framework.