NFT Digest 42, December 2024
Penguins revitalized the NFT market
As much as we would like to see a revival of the NFT market, unfortunately market statistics so far only show a revival in one of the many networks. Yes, Ethereum is still the leader, but the dominance has gone with the growth of other networks. Whether this is a market reversal or a local story we will find out in the coming months, and why exactly the Pudgy Penguins collection became the driver was detailed in the article.
NFT News
Wasabi joins Solana, with an assist from Wormhole.
Secret will provide Arbitrum with decentralized confidential computing (DeCC) tooling, documentation, and support. Incorporating DeCC enables things like private voting for DAOs, encrypted storage for dApps, secure random number generation for games, confidential data tied to NFTs, sealed-bid auctions, and encrypted order books for DeFi applications.
Pudgy Penguins is launching it's official coin $PENGU on Solana. PENGU will have a total supply of 88,888,888,888. Tokenomics and distribution:
now 600,000 PENGU holders and counting…
Pudgy Penguins Floor Price ATH
Abstract Mainnet is Coming January 2025. Early Cube Labs along with the Pudgy Penguins team are joining forces, to create Abstract, an Ethereum Layer 2 (L2) network focused on optimizing the consumer experience.
ENS partnered with Ubisoft to integrate ENS subnames into Captain Laserhawk Universe's unique ID card system. Gamers will receive the Niji Warrior ID Card, an ENS subname under edenonline.eth, dynamically connecting their character name to their owner’s address and fostering a unified identity within the game. The game officially launches in early access on December 18.
The founder of DOODLES hid the message in his post: If you add up the first letters of the words, it's “token is coming”.
OpenSea Rank Checker based on users’ transaction volume, platform and royalty fees, recent activity, longevity, interaction diversity, and blockchain activity.
The creators of the NFT Milady collection launched the memecoin CULT, TGE of which took place on December 9. The token was announced by the company in June this year and the team raised over $20.5 million in the pre-sale. CULT launched on Ethereum with a total offering of 10 billion tokens. Owners of NFT Milady Maker and Redacted Remilio Babies will receive an exclusive airdrop of CULT tokens.
The Open Builders team (behind @thenotcoin) and @realDogsHouse has launched a Telegram marketplace for stickers!
Buy, collect and exchange exclusive sticker packs with full ownership and use. Exclusive packs from DOGS, @pudgypenguins, @BoredApeYC and more!
🔹 Limited Offer
🔹 Can be traded on NFT marketplaces like Getgems
🔹 Paid for by Telegram stars
VeChain launched a no-code PofP module - for FREE. PofP is a marketing tool designed for event managers to facilitate the creation and storage of digital collectibles for events. A Proof of Participation (PofP) collectible or badge is an ERC-721 compliant NFT that serves as digital proof of participation in events, which can be online or in-person. These digital records, stored on public blockchains, are permanently accessible to participants and can be traded. PofP eliminates the complexity of the blockchain and the need to work with cryptocurrencies for both you and your users! PofP works with credits, where 1 credit = 1 transaction, allowing you to connect non-cryptocurrency users to the blockchain for free, thereby potentially increasing customer engagement and conversion. Each month you will receive 20 new free credits, which are totaled with your current balance. Each credit can be used to pay for your users' transactions.
Baseline announced Loan Migration, a new feature that allows you to seamlessly transition your Loan positions to Loops. This feature is designed to provide greater flexibility, eliminate default risks, and enhance how you manage your loans with a few clicks.
NFT development
Making Private NFTs
CONCEALMINT is a simple application that allows users to create and mint NFTs with private files. Once created, the NFT will appear in the user's feed where they can access the file. Owning an NFT will allow you to access the private file that is part of the NFT.
The application currently exists only as an example and uses Base Sepolia, but you can view the source code.
The CONCEALMINT NFT contract is simply ERC721A with some minor changes. The real part that sets these NFTs apart is the metadata. It have a custom "file" attribute that has a CID that can be used to retrieve the file from the Files API.
The application uses Privy as the primary authentication provider, but for simplicity we have set the only available login method to be a wallet connection.
Privy is a powerful authentication and key management platform for securely connecting, activating, and managing users at scale.
Social NFTs
ERC-7847: Social Media NFTs. This EIP defines a standardized way to create and manage NFTs that represent social media posts. These NFTs can be original posts, replies, reposts, or quote posts. Each NFT encapsulates a single social media post as a Nostr-compatible object. By providing a 1:1 mapping of nostr data structures, any NFT minted under this standard can be interpreted by Nostr-style clients, relays, or indexing services with minimal effort. Additionally, this standard defines how replies, reposts, and quotes should reference prior events, enabling rich social media interactions in a multi-chain, multi-contract, multi-platform environment.
Other types of common social media primitives, including likes, follower and other interactions, are easily represented in this standard.
This standard defines:
- Representation in the form of ERC-721 or ERC-1155 tokens.
- A unified posting mechanism.
- Interpretation of post type (original, reply, repost) by the presence of specific tags in the metadata, rather than by individual features or events.
- Ability to edit previously published posts.
- Multiple media attachments and external links using flexible tags.
- NFT metadata is aligned with common NFT practices so that existing NFT applications display as many NFTs as possible using the most common metadata structure.
- With a separate public key and signature, a third party can publish messages on behalf of another user.
Messages can be “owned” by their creators. This can be a useful mechanism, but an independent message signature allows a third party to publish a message on behalf of another user. This is useful for third-party services for publishing or pinning messages. In addition, editing a post can be restricted to its author. This is a design decision for the implementer to make.
Why Nostr?
Nostr is a simple and flexible protocol for decentralized social networks. By making NFTs interoperable with Nostr, this EIP allows NFT to become a fundamental building block for existing and future decentralized social platforms.
- Interoperability: Content can move freely between Ethereum-based platforms and Nostr-based infrastructure.
- Open identity without permission: Anyone can create a private key and start publishing posts.
- Decentralized and self-authenticating content: Each post is signed by the author, which guarantees authenticity and allows third parties to publish it.
- Cross-chain and cross-platform linking: A standardized tagging system allows you to link to posts on other blockchains, other contracts, or external URLs.
- Flexible content: Support for multimedia, external links, and arbitrary metadata makes this protocol suitable for a wide range of social networking and publishing applications.
- Strong community: Nostr has a strong community of developers and users who actively create and use the protocol.
Nostr's minimal and extensible protocol is ideal for decentralized publishing. Nostr's integration with NFT ensures that users own their content while maintaining compatibility with Nostr clients. Support for multimedia and external links makes content richer, allowing NFT to be used as building blocks for decentralized social networks, forums, announcements, messaging, and multimedia platforms.
How to Build an NFT Indexer with Ponder and Pinata
NFT Regulation
CyberKongz has received a Wells Notice from the SEC.
CyberKongz is a project deep-rooted in gaming and the SEC’s Division of Enforcement have approached us with very concerning rhetoric that you can not have a token (ERC-20) in tandem with a blockchain game without registering it as a security. This discourse would have major implications for the entire web3 gaming industry, and we will defend against this stance for the wider space.
In addition, the SEC has also demonstrated a perplexing interpretation of smart contracts. One of their major concerns with CyberKongz is around the 'sale' of Genesis Kongz in April 2021, which was actually a contract migration. If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?
CyberKongz have a small team, have never raised capital or had a large treasury, yet we have chosen to take this fight as we have always believed in pushing this space forward.
It has become increasingly apparent that the current administration is trying to force their anti-crypto agenda at the last minute. We hope that the new administration puts an end to this unjustness on our industry, but until then we will fight for NFT projects on all chains.
We are here for any project that is going through this also and can offer a helping hand anytime.
NFT Analytics
Mint Ecosystem
NFT Blockchain Mint now has over 100 applications in its ecosystem, over 200,000 active wallet users, and over 20 million transactions in the blockchain. The ecosystem now includes extensive developer tools and robust support for data services.
The Mint Blockchain ecosystem actively promotes native applications in a variety of areas including social, DeFi, staking, RWAs, and memes. It integrates these applications with NFT assets to increase their utility and take full advantage of their benefits. Core focus areas:
NFT+ Applications: Integrate with games, DeFi, social platforms and other application scenarios and expand the use of NFT beyond digital collectibles in the consumer sector.
NFT Passes simplify identity verification processes, increase convenience and lower barriers to cross-platform use.
Simplify NFT creation: Mint Blockchain offers versatile development tools that allow creators to easily launch and manage NFT products.
Mint Blockchain aims to expand the diverse application scenarios of NFT and create a comprehensive ecosystem that spans all aspects of digital life. The application of NFT will no longer be limited to digital collectibles, but will expand to areas such as RWA, AI Agent, payments, identity, social interaction, gaming, memes and asset management, demonstrating its limitless potential.
Aggregating NFT liquidity
Mint Blockchain focuses on solving the problem of liquidity fragmentation in the NFT market by aggregating NFT orders from different chains, creating the largest routing network. NFT orders from different chains will converge into a unified on-chain order pool.
By providing a robust data API structure and smart contract calls, this system will handle the registration, broadcast and sharing of NFT orders, providing seamless integration with various trading venues.
2025 Roadmap:
- Q1 2025: Announce the Mint Blockchain tokenomics, initiate airdrops, and conduct the $MINT Token Generation Event (TGE).
- Q2 2025: Launch the Staking Node and introduce Staking & Restaking mechanisms to distribute rewards to $MINT holders.
- Q3 2025: Unveil Mint Liquidity, enabling multi-chain asset aggregation and cross-chain interoperability, positioning Mint as a top asset routing network.
- Q4 2025: Release the Mint App, an all-in-one blockchain application integrating wallet, DEX, NFT marketplace, staking, RWA, AI agents, and more, accelerating NFT adoption.
Are back Bitcoin Ordinals?
Pizza_Ninjas inscribed the largest Ordinal inscription ever (3.9694 MB). It's a fully on-chain game and is also the first inscription ever on a Pizza Black Uncommon sat.
Ordinals trading volume crosses $5 billion USD.
Mint on Growpie
Mint blockchain added to Growpie analytic service.
PlayToEarn Blockchain Game Awards 2024
In November, we wrote about the winners of the GAM3 Awards. In December we had an awarding ceremony from PlayToEarn portal.
PlayToEarn is the world's leading Blockchain Games data aggregator and news outlet.
This year, PlayToEarn's Blockchain Game Awards prize pool exceeds $2 million.
All games are nominated automatically based on their PlayToEarn score. Creators and guilds are manually nominated based on reputation, engagement and influence in the web3 gaming space. Game of the Year and Most Anticipated Game nominees are selected by the PlayToEarn team based on a variety of criteria, including (but not limited to) player activity, development milestones, community presence, adoption and development of blockchain technologyю
This year, PlayToEarn will honor games across fourteen categories:
- Most Anticipated Game: WorldShards
- Best Action Game: Boss Fighters
- Best Adventure Game: Lumiterra
- Best Casual Game: Arc8 by GAMEE
- Best RPG: Castile
- Best Shooter Game: Off The Grid
- Best Strategy Game: Age of Dino
- Best Card Game: Gods Unchained
- Best Multiplayer Game: Age of Dino
- Best Content Creator: yellowpanther.moca
- Best Content Creator National: REI DO NFT
- Best Gaming Guild: Yield Guild Games
- Best Fighting Game: Chibi Clash
- Best Racing & Sports Game: Auto Legends
- Best Mobile Game: Pixel Heroes Adventure
- Best Browser Game: IN - match3
- Best Ecosystem: Immutable-X
- Game of the Year: The Sandbox
NFT Market
Disclaimer. To date, analytical tools are still evolving and provide only approximate data that do not cover all chains, DAG systems and other types of distributed ledgers, as well as NFTs or less common types, such as utility or financial.
NFT Marketcap is $31,088,007,455. It is notable that despite the inflated excitement around individual collections, the market as a whole has not added to capitalization.
NFT Sales Volume $1,072,496,816. Volumes more than doubled
Total Sales 1,938,540 shows a slight increase.
More all users are on Solana, and there is a constant battle for places 3 through 6. The number of users grew by about 30%, in Ethereum almost double.
Trading revenue has more than doubled and more than tripled in Ethereum.
Chain volume has more than doubled and more than tripled in Ethereum.
Royalties has more than doubled in Solana, but more than 4x in Ethereum.
Overall user growth was almost 30%, but did not change the rankings.
Opensea flipped Magic Eden again. Blur jumped into 3d place.
Blur is 4x in volume.
Royalties has more than doubled, but almost 6x on Blur.
This time, the entire top is made up of financial NFTs.
Blockchains by NFT Sales Volume. Ethereum is a volume driver for NFT market. Note that Arbitrum and Blast are outside the top 10 this time around.
The multitude of green candles speaks for itself.
All L2 NFT transaction count in this month. Immutable X is still the undisputed leader.
Zora is still the leader in NFT finace category.
NFT lending stats
NFT Lending TVL for all chains in December.
Top-10 NFT lending protocols.
Ethereum NFT Lending Analytics
