Solana NFTs: The Comeback Story 💥

Greg Solano, a Co-Founder of the Bored Ape Yacht Club Collection, Becomes CEO of Yuga Labs.

Solana NFT sales reach $5 billion as Greg Solano assumes leadership at Yuga Labs, according to the Nifty Newsletter.

Welcome back to another edition of our weekly newsletter, where we dive into the exciting world of blockchain and digital assets. This week, we have some fascinating stories to share, including the recovery of stolen NFT proceeds, a new CEO for Yuga Labs, and a partnership between a metaverse and stablecoin issuer Circle. So, let’s jump right in!

Solana NFTs: Hitting $5 Billion in Sales Volume 🚀

It’s time to raise a toast to Solana-based nonfungible tokens (NFTs) as they reach new heights! The all-time sales volume for Solana NFTs has surpassed a staggering $5 billion, according to data tracker CryptoSlam. This achievement is remarkable, considering the total number of NFT transactions on the blockchain has also crossed the 43 million mark.

After a four-month slump, Solana NFTs made a stunning comeback in October 2023, with a 192% surge in sales volume from $28 million to $82 million. This momentum carried through to December 2023, when the chain recorded its second-highest monthly sales volume of $365 million. It’s truly a testament to the growing popularity and demand for NFTs on the Solana blockchain.

The Yuga Labs Shuffle: Greg Solano Takes the Wheel 🎩

In an intriguing twist of fate, Greg Solano, one of the co-creators behind the immensely popular Bored Ape Yacht Club collection, has taken over as the new CEO of Yuga Labs. Solano, who also co-founded the company, is stepping into the CEO role, replacing Daniel Alegre, who has been at the helm since April 2023.

• Robinhood Announces Exclusive NFT Giveaway with Notable.art
• Yuga Labs Takes a Stand for Creator Royalties in NFT Marketplaces
• Should NFTs be Legally Considered Virtual Assets in South Korea?

In a recent announcement, Solano expressed his excitement about leading the NFT company into a new chapter. He’s ready to steer the ship and navigate the ever-changing tides of the digital art world. With his wealth of experience and the success of the Bored Ape Yacht Club under his belt, we’re eager to see what’s in store for Yuga Labs.

The Crypto Investigator Strikes Back: ZachXBT Recovers Stolen NFT Proceeds 🔍💰

Justice prevails in the digital realm! Crypto investigator ZachXBT has pulled off a remarkable feat by recovering the majority of the stolen proceeds from a DeGods NFT, which was snatched through a phishing scam in May 2023. After months of relentless pursuit, ZachXBT announced on Feb. 24 that most of the funds have been returned to the rightful owner.

The hackers had sold the stolen NFT for 99 Ether (ETH) back in May, fetching around $177,000 at the time. Thanks to ZachXBT’s investigatory prowess, a substantial portion of the money has now been reclaimed. This serves as a powerful warning to would-be scammers that the blockchain community is watching and ready to fight back.

When Metaverse Meets Stablecoin: Circle and Overdare Join Forces 💪🎮

In a thrilling collaboration, the metaverse Overdare has partnered with stablecoin issuer Circle to integrate in-game wallets into its virtual world. This joint venture between software company Naver Z and PUBG: Battlegrounds publisher Krafton aims to deliver an immersive experience to crypto enthusiasts.

Circle’s wallet service will allow game content creators within Overdare to receive their payouts in USD Coin (USDC). By integrating the USDC stablecoin, the metaverse will also enable seamless and secure transactions within the gaming ecosystem. It’s exciting to see blockchain technology extending its reach into different realms, unlocking new possibilities for both gamers and creators.

Nifty News Roundup: South Korea’s NFT Chat and Yuga Labs’ Royalty Stand 🌐🤝

In other news, South Korean financial authorities are taking steps to consult with United States Securities and Exchange Commission (SEC) Chair Gary Gensler on NFTs. As South Korea’s Financial Supervisory Service Chairman, Lee Bok-hyun plans to kickstart discussions with Gensler in May. This dialogue will likely foster collaboration and knowledge-sharing between the two nations in the rapidly evolving NFT landscape.

Meanwhile, Yuga Labs has made a bold move by removing its NFT collections from marketplaces that do not support royalties for all creators. The company has taken a firm stance on ensuring that artists are fairly compensated for their work. A list of projects exclusively available on NFT trading platforms that support royalties has been published by Yuga Labs, reinforcing their commitment to creators’ rights.

👉 Continue reading the original article for more detailed insights

📚 Reference Links:

• Solana-based NFTs – A $5 Billion Success Story
• Greg Solano Assumes CEO Role at Yuga Labs
• ZachXBT Recovers Stolen NFT Proceeds
• Circle and Overdare Unite in Metaverse
• South Korea’s NFT Discussion with Gary Gensler

That’s a wrap for this week’s newsletter! We hope you enjoyed this dive into the exhilarating world of blockchain and NFTs. If you found this information valuable, don’t forget to share it on your favorite social media platforms. Let’s spread the excitement and knowledge together! 👊✨

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