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    Non-Fungible Tokens (NFT) Opportunities

    By Wasim Omar

    Dec 15,2022

    9:24 AM UTC

    The present week has proven highly bullish for the NFT realm, as total weekly sales saw a lock-in at almost $155 million. This brought a full 27% climb against the prior week and hints at a resurgence in interest in the NFT market. In particular, the most significant winner had been the Bored Ape Yacht Club, reeling in almost $22 million in sales. The most expensive non-fungible token sold during the week was BAYC #441, picking up a price of $691,000. This resurgence in bullish activity in the market is a highly positive sign, considering the slowdown that recently came following the FTX fiasco.

    In what is increasingly being seen as a win for the world of NFTs, Apple is making strides towards authorizing third-party app platforms to comply with the EU’s proposal for anti-monopolistic purposes. In effect, users can now access application stores that are outside Apple’s ecosystem, and hence avoid the 30% commission charge. This dynamic had been seen as a major obstacle by NFT developers, given the gas fee made payable to Apple, as well as the restriction on cryptocurrency payments. With the new rules in place, a whole range of new possibilities opens up for NFT players, who can now operate without Apple’s restrictive barriers.

    Dubai is ready to host its first-ever digital NFT art gallery, ‘37xDubai’, which is designed to be maximally immersive and interactive to guests. The event is the brainchild of the investment company, Morningstar Ventures, which has invested over $5 million toward realizing this state-of-the-art vision, in a highly sophisticated tech setup. The UAE has been at the forefront of Web3 technology, with several investors showing much enthusiasm about the concept. In particular, 37xDubai will be focusing heavily on web3-based entertainment, along with traditional and digital art.

    NFTs to Watch

    The Memes by 6529 NFT

    The Memes by 6529 NFT collection has been a highly popular one over the last week, seeing its total market capitalization climbing by a great 671%. The reason for such hype surrounding the collection comes from what the project essentially represents.

    Memes by 6529 push for the need to struggle for a truly open and decentralized metaverse, which rests upon its self-sovereignty. The project aims to achieve this vision through the viral power of memes in the digital realm. In order to maintain its stance on accessibility, the project has opted for NFT editions that are generally large, and of a low price.

    MNTGE Pass NFT

    The MNTGE Pass has been another NFT collection that saw the spotlight this week, with its impressive trade volume of 230 ETH. These tokens are basically passed to a highly exclusive community, with 1,500 members in total.

    The MNTGE Pass gives holders membership to the community and access to all the privileges of its members. These privileges include the chance to interact with, and experience, unique moments from the fashion industry, while also accessing rare items and other cultural touchstones. These valuable experiences are nearly impossible to come to nonmembers of MNTGE.

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