New Era of NFTs With RARI Chain Royalty Payments – Top NFT News Today – 26 January
Over the past 24 hours, the non-fungible tokens (NFT) market has been largely unchanged, aside from NFT news about Pudgy Penguins, RARI chain and Magic Eden.
The sales volume is up 3.5%, currently at $31,574,164.
Buyers, sellers, and transactions are each down around 1%, per CryptoSlam.
Among the top 10 blockchains by NFT sales volume, a notable change is that Bitcoin overtook Solana again in the fight for second place. It’s now significantly in front of Solana: $7.99 million compared to $6.45 million.
When it comes to the top 10 collections, the biggest gainer by far over the past day is Bored Ape Yacht Club. It’s up nearly 300% to $794,844, compared to the second-biggest gainer, Ordinals, with a rise of 11.5%. Froganas is also up 11%.
In terms of ranking by sales volume, Ordinals take the first spot with $1.34 million.
In today’s NFT news, read about Pudgy Penguins hitting notable milestones, the newly released RARI Chain mainnet initiating the new era for NFTs, and Magic Eden releasing updates about its Rewards program.
Pudgy Penguins Hits 50,000 Accounts Milestone, Over 750,000 Toys Sold
The Pudgy Penguin team took to Twitter today to share several notable developments the collection has witnessed.
They stated that more than 55,000 accounts have been created on Pudgy World.
Over 55,000 accounts were created on Pudgy World, our Web3 experience which puts blockchain technology in the hands of everyday consumers. pic.twitter.com/zd2C7kBtHf
— Pudgy Penguins (@pudgypenguins) January 26, 2024
Meanwhile, in April 2022, the team licensed Pudgy Penguins and its younger siblings Lil Pudgys from holders for Pudgy Toys. They’ve seen significant success since.
The licensed Penguins were featured in top retailers globally. They sold over 750,000 toys in 7 months. These include ToysRUs, Hot Topic, Walmart, and Macy’s.
“In 2023 these Penguins pushed Web3 forward; selling 750,000+ toys & reaching millions of people,” the team said.
The Pudgy Penguins and Lil Pudgys toy line has “visited” nine countries. These include the USA, Canada, the UK, Ireland, Spain, Australia, Thailand, Malaysia, and Singapore.
The team argued that the toy line didn’t only benefit the Pudgy Penguins brand. It also “shed a positive light on Web3.”
These Penguins not only pushed forward the Pudgy Penguins brand, but they also shed a positive light on Web3 through winning multiple mainstream awards over legacy brands. pic.twitter.com/WcP1G0N2cW
— Pudgy Penguins (@pudgypenguins) January 26, 2024
In terms of sales volume, Pudgy Penguins are up 130% in 24 hours to $597,812, sitting in the 11th spot.
Over the past week, the collection is in the 12th place. It’s down 63% to $3.2 million.
New Era of NFTs With Rari: Royalty Payments Embedded Into Every Transaction
The RARI Foundation has released the mainnet of RARI Chain, an Ethereum Layer 3 (L3) blockchain on Arbitrum, aiming to initiate a new NFT era.
The announcement said that, “with lightning-fast transactions and near-zero gas fees, we are focused on building a pathway to new NFT use cases on a secure L3 powered by Arbitrum.”
RARI Chain aims to address scalability issues in the NFT space. Furthermore, it embeds royalty payments at the node level, and the system automatically distributes royalties at the time of sale.
The website added that “this marks an initiation of a new NFT era, empowering creators to seize control of their livelihoods and ensure rightful royalties for their creative endeavors.”
The RARI Chain is LIVE on mainnet 🚀 We can't wait to see which new ideas and projects will be built on the chain that embeds royalties at the node level. https://t.co/t0V87YsOcU
— RARI Foundation (@rarifoundation) January 24, 2024
Also, the team said there will be ”near-zero gas fees.”
Since Testnet launched in November, the team has seen 46,000 wallets and 251,000 transactions.
There is also the RARI DAO, enabling anyone to participate in the chain governance.
Meanwhile, the first ten artists have already collaborated with RARI for a series of open-edition collection drops.
Magic Eden Sees Uptick Since Rewards Launch
On Tuesday, the NFT marketplace Magic Eden launched its new rewards program for collectors and creators, making the top of NFT news rounds.
In a single day, the platform said, the “listings near floor have quadrupled.”
Furthermore, there was a 250% rise in pools on the marketplace, and nearly 60% of new Solana NFT wallets were on it, too.
Finally, Magic Eden was home to nearly 50% of the top 10 NFT collections listings.
Since launching Rewards yesterday:
🪄ME listings near floor have quadrupled
🪄Almost half of all top 10 collection listings are on ME
🪄Almost 60% of 1st time Sol NFT wallets were on ME
🪄250% increase in pools created on ME pic.twitter.com/FNFM3F7r6E— Magic Eden 🪄 (@MagicEden) January 24, 2024
Meanwhile, the retroactive drop promised to Solana OGs, will start next Friday. It will reward past activity going back to 2021.
Magic Eden CEO Jack Lu commented that this is to show appreciation for the community support over the past three years.
I remember starting @MagicEden in Sept 2021 w/ @sidazhang, @ZhuoxunYin & @zhouzhuojie. We used a WordPress theme as the frontend for the marketplace & hacked the first version in 10 days. We never thought we would grow to where we are now & it was all because of the community's… https://t.co/lk1Rndgs3M
— Jack Lu (@0xLeoInRio) January 26, 2024
The platform also shared a guide on earning Diamonds.
Apparently you guys can’t read any of our articles so here’s a simple guide on how to earn Magic Eden Diamonds.
The best way to maximize Diamonds is to get your loyalty to 100% so that you get a 100% Diamond Bonus. You can quickly delist and relist all your listings to Magic… pic.twitter.com/0bQdH8OcvP
— Magic Eden 🪄 (@MagicEden) January 24, 2024
