Magic Eden Surges Ahead of Blur in Monthly NFT Trading Volume

This week, Magic Eden's NFT trading volume surged 194.4% in March, surpassing leading platform Blur. Additionally, Yuga Labs sold the IP rights for two NFT games to Faraway, part of efforts to "unshackle" the BAYC team. Manchester City and OKX launched a limited-edition NFT collection offering fans the chance to win unique jerseys. Former Disney executive Loren Roosendaal unveiled Galactic Entertainment Publishing, a Web3 game publisher with a focus on Hollywood and gaming talent. Notably, PayPal plans to remove buyer and seller protections for NFT transactions starting May 20.

Magic Eden Overtakes Blur in NFT Trading Volume

Solana-based NFT platform Magic Eden has surpassed leading competitor Blur in monthly trading volume for March, reports CoinGecko. Magic Eden recorded a remarkable 194.4% increase in trading, amassing $756.5 million compared to Blur's $530.4 million.

Magic Eden's surge is attributed to its innovative Diamond reward program and ongoing partnership with NFT powerhouse Yuga Labs. The platform has now witnessed six consecutive months of ascending trading volume.

Yuga Labs Divests Two NFT Games to Unburden BAYC Team

Yuga Labs, the creators of the coveted Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections, have sold the intellectual property rights for HV-MTL and Legends of Mara to Web3 gaming studio Faraway.

This move aligns with Yuga Labs' strategy to "unshackle" the BAYC team, granting them greater autonomy in executing their vision, as stated by CEO Greg Solano.

Manchester City and OKX Launch NFT-Linked Jersey Collection

English Premier League football club Manchester City has partnered with cryptocurrency exchange OKX to release an exclusive NFT collection. Fans can mint NFTs on OKX that provide opportunities to win limited-edition jerseys adorned with unique hand-painted designs by artist Christian Jeffrey.

The rarity of the minted NFT determines the jersey's availability, adding an element of collectible value to the digital assets.

Former Disney Executive Establishes Web3 Game Publishing Company

A former Disney executive has teamed up with prominent figures from Hollywood and the gaming industry to launch Galactic Entertainment Publishing, a Web3 game publisher based in the United Arab Emirates.

Their inaugural project, PlanetQuest, has attracted over 200,000 NFT holders even before its official launch. CEO Loren Roosendaal highlights the game's potential to engage a global audience.

PayPal Removes NFT Purchase Protection, Adidas Unveils NFT Sneakers

PayPal has announced an adjustment to its Purchase Protection Program that will exclude NFT transactions from buyer and seller protections. This change takes effect on May 20.

In a separate development, global sportswear giant Adidas has collaborated with Stepn to release a limited-edition collection of NFT sneakers built on the Solana blockchain. These digital assets offer exclusive benefits and incentives to their holders.