Get your daily, bite-sized digest of NFT news today – investigating the stories flying under the radar among the latest NFT news.
Here’s the latest form NFT news today:
- NFT Market Today
- OrdinalsBot Raises an Oversubscribed $3M+ Seed Round
- Illuvium Raises $12 Million in Series A Funding to Fuel Upcoming Game Launch
- Sleap.Io and Avata Reveal Tokenized Travel Insurance
NFT Market Today
The non-fungible token (NFT) market is slightly down today.
The sales volume fell 4.6% in 24 hours to $33,724,230, according to CryptoSlam.
While sellers are unchanged and transactions are down 0.5%, the number of buyers increased 10.2% over the past day.
Only two among the top 10 collections per sales volume are green today.
Azuki, which is also the day’s best performer, is up 202% to $1.3 million in sales.
Also, Froganas’ sales increased by 114% to just above $1 million.
When it comes to the losses among the top 10 collections, the sales of $?? BRC-20 NFTs fell the most: 47% to $1.26 million.
Bored Ape Yacht Club (BAYC) is next on the list, having dropped 39% to $895,789.
Meanwhile, looking at the blockchains, we find Ethereum at the top per sales volume. It’s also one of only four chains to see an increase today. Its sales have increased nearly 7% to $11.4 million.
Bitcoin is down almost 22% to $10.2 million.
Notably, Fantom is up 42,755% to $829,892.
OrdinalsBot Raises an Oversubscribed $3M+ Seed Round
In NFT news today, OrdinalsBot, the team within the Ordinals space building out the data layer of Bitcoin, announced an oversubscribed $3 million seed funding round.
It was led by DACM with participation from Eden Block, Nural Capital, WWVentures, Lightning Ventures, Oak Grove Ventures, UTXO Management, Kenetic Capital, CMS Holdings, Kestrel0x1, Sora Ventures, London Real Ventures, Crypto Zombie, MDX Crypto, and others.
According to the press release, the team will use this new capital to ramp up hiring across all functions, specifically Bitcoin developers.
Also, the funding follows OrdinalsBot’s pre-seed round from less than five months ago, bringing the team’s total funding to over $4.5 million.
“This funding will enable OrdinalsBot to further reset the dynamics and infrastructure within blockchain, bringing new opportunities to the Ordinals and BTC ecosystem,” they said.
Richard Galvin, co-founder and CEO at DACM, commented that the OrdinalsBot team participated in mining the largest BTC block ever and in three of the ten largest BTC inscriptions in the past two weeks alone.
“They are enabling projects to mint in a single BTC block,” he said, “which was previously never possible and from a technical perspective really interesting in the ways this will bring utility to the Bitcoin blockchain in a new way.”
We are proud to share our participation in a $3 million funding round for @ordinalsbot, a Bitcoin startup making significant strides in the NFT space with projects like Runestone and collaborations with Ghostface Killah
https://t.co/d5NkvTck7p
— WWVentures (@WW_Ventures) March 27, 2024
Since raising their initial pre-seed funding, OrdinalsBot has built out a full suite of products to simplify the process of minting and managing Bitcoin inscriptions and BRC-20 tokens, including OrdinalsBot Inscription Tool, OrdinalsBot Scribe, and OrdinalsBot API.
“It has been exciting to see the momentum over the past year at OrdinalsBot,” co-founder Toby Lewis said.
“We have achieved unprecedented growth and stepped up to change how the public can access and make inscriptions on Bitcoin in ways we could have only imagined when we started working on our mission.”
According to co-founder Brian Laughlan, the team is building “the infrastructure for data on the Bitcoin blockchain, and with the launch of our Trio Marketplace – where you’ll be able to access all things Ordinals related – I think we are going to see a huge uptick in both opportunities and interest.”
Illuvium Raises $12 Million in Series A Funding to Fuel Upcoming Game Launch
Blockchain-based gaming platform Illuvium announced that it raised $12 million in Series A funding from major companies King River Capital, Arrington, and Animoca.
The funds will be allocated to developing new gaming titles within the Illuvium ecosystem, according to the press release shared with Cryptonews.
Furthermore, the team wrote that “there are whispers of a significant airdrop planned for the game’s community, rumored to be worth more than USD 25 million.”
The announcement noted that the platform has seen “significant financial backing” and community response, as well as development milestones. Over 1 million users have registered ahead of the game’s launch.
Series A Funding Raise Closed
We’ve successfully closed our Series A funding, raising $12M from top industry firms! This allows us to expand our game offerings and build on our player experiences.
We want to thank our investors:
– @Arrington_Cap
– @KingRiverVC
-… pic.twitter.com/UyKgKV02mJ— Illuvium (@illuviumio) March 26, 2024
The announcement argued that the studio’s pace of development “speaks volumes about its efficiency in creating an immersive gaming experience using shared NFT assets.”
Following a 3.5-year development phase and $60 million in funding, Illuvium Labs is preparing to launch three interconnected titles that will utilize the same NFTs seamlessly across all games.
Moreover, its revenue-sharing mechanism allows stakers to benefit directly from 100% of in-game revenues.
Co-founder and CEO Kieran Warwick commented on this rewarding investment model, saying that “the concept of redirecting 100% of all in-game revenues to staked investors is a major draw for ILV, resonating strongly with our community.”
Warwick hoped this model would gain traction across various decentralized organizations and set a precedent for future initiatives.
Meanwhile, the team’s Illuvium Zero, a mobile game in which landholders play a crucial role by producing fuel, creates an interconnected economy and encourages strategic decision-making and trade among players.
Moreover, the development team is also focused on a new multiplayer experience by introducing an arena feature that is currently in the design phase, exploring an 8-player mode.
Sleap.Io and Avata Reveal Tokenized Travel Insurance
In other NFT news today, Web3 hotel booking platform Sleap.io has partnered with insurtech firm Avata on the upcoming launch of “the world’s first” tokenized travel insurance.
Per the announcement, the tokenized travel insurance NFTs will become available in the upcoming months, exclusively through Sleap.io.
Furthermore, it stated that “this initiative stands as a beacon of innovation in the realms of travel and insurance, showcasing the profound impact of decentralization and the pioneering use of blockchain technology.”
The Camino Network provides a bespoke blockchain infrastructure tailored to the travel industry.
Additionally, the LinkedIn post noted that this “pioneering move” merges blockchain’s flexibility with the essential need for travel insurance.
Therefore, it is introducing a product that is tied to an Insurance NFT rather than an individual.
We have partnered with https://t.co/IlFOmvWBIC to launch the world’s first tokenized travel insurance.
The development of this solution is supported by @camino_network , a blockchain designed for the travel industry.
We are at the forefront of Web3 travel to set new… pic.twitter.com/rGw5DupIwI
— Sleap (@sleap_io) March 25, 2024
Michael Ros, CEO and Founder of Sleap.io, commented that this initiative “not only introduces a groundbreaking product to the marketplace but also signals a significant leap forward in the evolution of travel insurance.”
“The tokenized travel insurance introduces a new era of adaptability, and user control on Camino Network,” said Sun Feng Wu, CEO and Founder of Avata.
“This is not just an innovation; it’s a commitment to enhancing travelers’ confidence and convenience, pushing the boundaries of protection in the digital age.”
Per the website, Sleep.io is “the first travel company to obtain the prestigious “Made by Apes” license” from Bored Ape Yacht Club (BAYC) developer Yuga Labs.
Sleap.io currently caters exclusively to cryptocurrency users but is actively exploring the possibility of adding credit card payment options in the future, the FAQ says.
According to Magic Eden, Sleap.io’s initial NFT release (announced two months ago) comprises 600 Mint Keys on Polygon.
These Keys grant a free mint for the main collection set to launch in early Q2 2024.
Also, each NFT grants access to multiple travel benefits, personalized offers, and exclusive perks, it said.
The post Here’s The Latest NFT News Today appeared first on Cryptonews.