According to CryptoSlam, sales of Bitcoin-based NFTs totaled $148 million in the past 30 days. The Bitcoin network has eclipsed the Ronin blockchain, which was previously the third-highest record for non-fungible token (NFT) sales, to take the top spot in the all-time rankings.
Zirlin believes that gaming is currently “in a state of evolution.” The co-founder of Sky Mavis indicated that approaches that were formerly efficient for game firms are now showing falling returns due to increased user acquisition costs.
CryptoSlam data shows that the overall sales volume of Bitcoin-based NFTs hit $4 billion. Despite the new milestone, the bigger NFT market experienced lower sales volumes. When comparing May to April, the monthly NFT sales volume dropped by 54%.
Tether introduces Alloy, a stablecoin backed by gold and the US dollar
Tether, the US dollar-pegged stablecoin that is being launched, is backed by gold. The issuer stated that it is the first connected asset. The new coin, aUSDT, can be manufactured using the Alloy by Tether platform. According to the company, Alloy will be overcollateralized by Tether Gold (XAUt), a token that allows ownership of real gold but is denominated in US dollars.
A smart contract and price oracles can be utilised to deposit XUSDT and generate the synthetic dollar. Users can thus continue to use their gold-backed Tether asset while trading with USDT. AUSDT was founded by Moon Gold and Moon Gold El Salvador, both of which are Tether companies.
The aUSDT from Tether is not the first synthetic dollar. In August 2022, Galoy introduced Stablesats, a Bitcoin-based virtual currency that operates on the Lightning Network. To sweeten the pot for the new asset, Tether has set aside 10 million USDT and is offering a 2:1 bonus to USDT holders of $1.00.
FTX victims seek company assets through criminal forfeiture proceedings
Though Sam Bankman-Fried is currently serving a prison sentence, FTX customers and creditors are claiming the company’s assets, which are still worth millions. In the criminal case against former FTX CEO Sam Bankman-Fried, who is presently serving a 25-year federal prison sentence, the various factions are competing for the assets.
Bankman-Fried was found guilty of seven criminal counts stemming from his role in the misuse of customer monies by FTX and Alameda Research.
In March, Judge Kaplan sentenced him to 25 years in prison. Ryan Salame, the former co-CEO of FTX Digital Markets and the sole person charged who did not testify at SBF’s trial, received a 90-month sentence in May.
