The Binance Labs incubation program has just announced that it has invested in the Web3 gaming sector by supporting Catizen, a mini-game bot on Telegram.

The accelerator for the development of cryptographic projects has led a funding round for Pluto Studio, a GameFi platform that launched Catizen.

The Telegram game, integrated with the TON blockchain, already has a wide range of users and positions itself as one of the most appreciated of the moment. 

Let’s see all the details below.

Gaming on TON: Binance Labs supports the Telegram bot Catizen by the company Pluto Studio

Binance Labs, has revealed that it has invested in Pluto Studio, a company in the gaming sector engaged in the development of game bots on Telegram.

The division of venture capital and incubation of Binance has led a funding for the GameFi platform indirectly supporting also the game Catizen.

This represents a mini-game developed within Telegram, integrated with the blockchain of TON and equipped with an incentive program airdrop.

The commitment of the web3 accelerator of the exchange in supporting these projects reflects Binance’s willingness to follow the current trends in the gaming world.

As reported by Pluto Studio, the GameFi platform will leverage the funding to further enhance its suite of games. The main focus will obviously be on Catizen, the company’s flagship project where implementations for a more efficient game engine are planned.

The goal is to facilitate the entry of new users and make the Telegram mini-game bot increasingly attractive and scalable.

Catizen can make its way through the great noise typical of the gaming world web3 by leveraging the social media Telegram and its large user base to grow more quickly.

Yi He, co-founder of Binance and head of Binance Labs, wanted to speak out to comment on the good news:

“Binance Labs is always excited to support projects like Pluto Studio that have the potential to integrate billions of users into Web3. We look forward to supporting other visionary builders who aim to create products designed for mass adoption.”

On the other front, the response from Ricky Wong, co-founder of Pluto Studio, has arrived, expressing his enthusiasm for the collaboration with Binance:

“We are incredibly excited to receive funding from an industry leader like Binance Labs. We are ready to take Catizen to new heights and bring more innovative solutions to the Telegram and TON ecosystems.”

How does the mini-game Catizen work and how to earn for the airdrop?

As just mentioned, Binance has invested in gaming by offering its support for the mini-game bot of Telegram Catizen. But how does this work exactly?

Catizen is a revolutionary game bot perfectly integrated with TON and set in the open digital ‘MeowVerse‘, a world themed around digital kittens. 

This is the invitation link to access the game https://t.me/catizenbot/gameapp?startapp=rp_27175781

The players engage in various activities focused on the care of virtual cats, “minting” new elements periodically. The goal of the game is to collect as many coins as possible and enhance your account by merging two cats of the same level.

Catizen fully fits into the mini-games bot of Telegram with the play-to-airdrop model, where players will be rewarded for the points collected. The digital kittens act as credentials to access the launchpad and earn cryptographic tokens.

This innovative approach aims to revolutionize the way users access and interact with the Web3 ecosystem.

Supported by user-friendly interfaces for intuitive interaction and the scalability of the TON network, this game has already attracted significant user traffic.

In a few months since its launch, it has already seen its community grow to 25 million players, of which about 1.5 million are on-chain players.

The Telegram Bot has also dominated the TON blockchain ecosystem, securing the top spot in the application for three consecutive seasons of The Open League.

Exploiting the immense traffic of Telegram, Catizen aims to establish a Web3 traffic link on a scale of hundreds of billions.

The support of Binance as an incubator acts as a quality label, with the game gaining credibility even on a more advanced front of the gaming sector.

Another free airdrop is just around the corner, what are you waiting for to participate? Power up your kittens and earn cryptocurrencies.

The trend of games on Telegram

Engaging in the enhancement of the gaming company Pluto Studio, Binance has invested in the currently most trending sector of the blockchain world, namely that of mini-game bots on Telegram.

After the success of Notcoin and Hamster Kombat, users have flocked to this type of game, where the prize is the chance to earn tokens for free.

By performing simple tasks, such as “tap” on the screen or feeding a kitten, you participate in the distribution of a new token as early adopters of that project.

On one hand, the user is happy to fill their free time with a remunerative activity, albeit with limited earning possibilities. On the other hand, the game itself manages to increase network traffic with a low expense.

Currently, according to “TON App” there are about 215 mini-game bots available for use on Telegram, with many more coming by the end of the year. The TON blockchain ecosystem, on the other hand, has more than 1000 decentralized applications with various use cases, from gaming to finance, etc.

DappRadar has released its Blockchain Gaming Report defining Q2 2024 as the best quarter since 2022. In fact, the Web3 gaming and dapp sector has raised 1.1 billion dollars in investments. 

Blockchain Gaming Web3: DappRadar states that Q2 2024 is the best quarter since 2022

The famous platform that analyzes and tracks data on decentralized apps, DappRadar, has released its Blockchain Gaming Report. 

1/ We’ve long believed blockchain gaming will drive Web3 adoption, and recent trends confirm it! In Q2, blockchain gaming saw a 33% increase in dUAW compared to Q1.

Overview in the thread
Read the full DappRadar x @BGameAlliance Q2 Gaming Report. https://t.co/AHDEOqeu9x

— DappRadar Insights (@InsightsByDR) July 11, 2024

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Understanding these concepts is crucial for investors.

“For a long time, we have believed that blockchain gaming will drive the adoption of Web3 and recent trends confirm it! In the second quarter, blockchain gaming recorded a 33% increase in dUAW compared to the first quarter. Overview in the thread, Read the entire DappRadar x @BGameAlliance Q2 gaming report”

From what has emerged, it seems that Q2 2024 was the best quarter since 2022 for investments in the Blockchain Web3 gaming sector. 

The companies in the sector, in fact, have raised investments totaling 1.1 billion dollars, recording an increase of +314% compared to the previous quarter. 

Among the highlights of the report, DappRadar states that blockchain gaming is leading in the Web3 sector, representing 28% of all dapp activity and attracting 2.8 million active wallets every day.

Blockchain Gaming Web3: the first dapp is Ronin with 1.9 million new daily wallets

Leading the Blockchain Gaming Web3 scene is Ronin, the Ethereum sidechain for the Axie Infinity ecosystem.

Ronin has attracted over 1.9 million new daily wallets, with a 100% increase compared to the previous quarter.

Other Blockchain Gaming development platforms that have recorded significant activity this quarter are Immutable zkEVM and opBNB. Specifically, Immutable zkEVM has recorded an increase of 715.136%, while opBNB has seen an 80.459% rise.

Not only that, in terms of unique active wallets in the gaming landscape, there is also Pixels which has attracted 48 million UAW (Unique Active Wallet) throughout the entire quarter.

On the contrary of all these increases, the collections based on metaverse NFT have instead recorded a decrease in Q2 2024. The trading volume dropped by -29%, while sales by -21%.

The 2023 report and the decline of metaverse projects 

On the contrary to the present report on blockchain gaming that shows the growth of sector interest, other previous reports from DappRadar have instead shown changes in the scenario. 

In fact, just last year, DappRadar had published a report stating that projects in the metaverse were experiencing a decline in interest among investors.

In fact, it seems that in Q2 2023, the trading volume of metaverse projects had decreased by 80%, reaching 56 million dollars. 

This decline in interest was interpreted by DappRadar as a change of scenario, leading the public to turn their attention to other topics such as meme tokens and Artificial Intelligence (AI). In any case, the metaverse, at that time, accounted for 43.68% of investments in the Web3 sector.

STEPN, the app that has revolutionized fitness through the “move-to-earn” model and its NFTs, is about to take a significant step forward in the realm of digital identity with the imminent launch of branded Web3 domains .stepn. 

This strategic move, carried out in collaboration with Unstoppable Domains, aims to simplify cryptocurrency transactions for millions of STEPN users and to provide a unified digital identity for fitness results and Web3 activities.

The collaboration of STEPN NFT with Unstoppable Domains

The announcement of the collaboration between STEPN and Unstoppable Domains was made in Brussels during the event EthCC on July 11, 2024. This partnership is part of a broader initiative aimed at integrating user-owned domains into the traditional Internet infrastructure.

Unstoppable Domains, the largest provider of Web3 domains in the world, and STEPN are ready to submit an application during the next round of ICANN applications in 2026.

The new top-level domain (TLD) .stepn offered by Unstoppable Domains will allow users to easily send and receive STEPN’s native token, GMT, along with all major criptovalute and NFTs, integrating STEPN into Unstoppable’s ecosystem which includes 865 partner applications.

These domains can be used to log in to various blockchains, including Solana and other EVM and non-EVM chains.

STEPN is an application that encourages users to exercise by rewarding them with digital assets. The platform combines elements of fitness tracking, gamification, and blockchain to create a unique ecosystem that promotes a healthy lifestyle.

Through GPS, STEPN tracks users’ movements in real-time and rewards them with GMT and GST, STEPN’s native tokens, for the distance covered and the quality of the Sneaker NFT in their possession.

Since the launch, the STEPN community has covered more than 300 million kilometers, burning 20 billion calories and offsetting 21 million kilograms of carbon along the way. The app continues to grow, with two to three million active users monthly.

A future of opportunities

Recently, STEPN has expanded its reach with the release of STEPN GO, a social-lifestyle app that includes a decentralized marketplace where users can buy and sell items such as Sneaker, Shoe Boxes, and more. 

Available on the Apple App Store and the Google Play Store for Android, STEPN GO features the user-friendly Haus system for easy sharing of Sneaker and an Interactive Map to showcase personalized avatars and outfits, enhancing both social connectivity and user engagement.

The launch of .stepn domains represents an important step towards the mass adoption of Web3 technologies. STEPN users will not only benefit from simpler and more secure crypto transactions, but they will also be able to create unique profiles, earn rewards, and participate in an integrated digital ecosystem. 

The collaboration with Unstoppable Domains strengthens STEPN’s position as a leader in the “move-to-earn” application sector and in the Web3 world, offering its users new opportunities to explore and experience the blockchain in an intuitive and accessible way.

Conclusion

With the introduction of .stepn domains, STEPN and Unstoppable Domains are shaping the future of digital identity and crypto transactions. This initiative not only simplifies access to cryptocurrencies and NFTs, but also promotes a healthy and sustainable lifestyle by connecting the world of fitness with the possibilities offered by blockchain technology. 

While STEPN continues to innovate and expand its ecosystem, users can expect further developments and improvements that will make the “move-to-earn” experience even more rewarding and engaging.

Cristiano Ronaldo e Binance presentano “Forever Worldwide: la strada per l’Arabia Saudita”, una collezione NFT pensata per i fan desiderosi di possedere frammenti dell’eredità di CR7.

This fourth release, part of the multi-year partnership between Binance and the Portuguese champion, celebrates Ronaldo’s legendary career and his connection with the fans and with symbolic places. 

I fan che acquisteranno questi NFT potranno godere di numerosi vantaggi, tra cui magliette vintage, biglietti per le partite e l’opportunità esclusiva di incontrare Cristiano Ronaldo di persona.

The fans who purchase these NFT will be able to enjoy numerous benefits, including vintage t-shirts, tickets for the matches, and the exclusive opportunity to meet Cristiano Ronaldo in person.

Sure, here is the translation while keeping the HTML markup and not translating the words “bull” and “bear”:
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Let’s see all the details below. 

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Exclusive NFTs, unique advantages, and meetings with Ronaldo in collaboration with Binance

As anticipated, Cristiano Ronaldo and Binance unveiled today their latest NFT collaboration, introducing the collection “Forever Worldwide: The Road to Saudi Arabia”.

Questa nuova serie di NFT racconta la vita e la straordinaria carriera di Ronaldo, dalle sue umili origini a Madeira fino a diventare una leggenda del calcio mondiale. Offrendo così ai fan esperienze innovative e ricompense esclusive.

The fourth release of the multi-year partnership between Binance and Ronaldo offers fans the opportunity to explore the key locations of CR7’s career: Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. 

To create this collection, local artists with deep ties to these territories were carefully selected, whose unique designs contributed to the realization of each NFT. Cristiano Ronaldo stated about it:

“It is exciting to think that, thanks to this collaboration with Binance, my fans can carry fragments of my football history with them. Each stage of this new collection has a special meaning for me. Working with artists capable of capturing the unique emotions of each place that has marked my career makes this experience even more special. Thanks to the NFTs, these moments of my journey can live forever.”

Rachel Conlan, Chief Marketing Officer di Binance, commented: 

“The incredible journey of Cristiano Ronaldo, from his humble beginnings to a legend of world football, has inspired fans all over the world and allowed us to witness this extraordinary rise. To represent this journey, we have collaborated with him to create our most extraordinary NFT collection ever, offering the best rewards ever seen for sports enthusiasts and showcasing artistic talents personally connected to iconic places in Cristiano’s life. Together, we are committed to redefining fan engagement in sports.”

The drops of Ronaldo’s NFT collection: masterpieces of Madrid, Turin, and Saudi Arabia

“Forever Worldwide: The Road to Saudi Arabia” will be launched in two phases during the next football season and will culminate in an auction in June for a limited collection of Super Super Rare NFT (SSR).

Il primo drop avverrà oggi 29 maggio e include le iconiche location di Madeira, Lisbona e Manchester. 

The vibrant artworks of the Portuguese artists Katt Phatt (Madeira) and Rodrigo Doin (Lisbon) represent the places where Cristiano Ronaldo’s journey began, offering fans the chance to own a fundamental piece of his glorious career. 

Questo primo drop includerà anche l’opera d’arte NFT dell’artista di Manchester John Sheehan, che rende omaggio alla rapida ascesa di Ronaldo a Manchester.

Il secondo Drop sarà lanciato il 6 giugno e includerà incredibili capolavori che rappresentano Madrid, Torino e Arabia Saudita. 

The drawings of the Spanish artist Lisett Ledón depict the unprecedented success of Ronaldo in Madrid, embodying his passion for the Spanish league. 

Pasquale Garibaldi celebrates the period in Turin, highlighting the legacy of the champion in Serie A and in Italian football, as explained by Ronaldo: 

“Torino marked an important chapter in my journey. It is the place where I discovered and embraced a new football culture and where the extraordinary tradition of Italian football inspired me to push myself further. The experience spent in Italy was a beautiful shared story that involved all my fans.”

The artist Pasquale Garibaldi on the other hand adds: 

“Fascinated by the historical heritage of the city of Torino, I tried to convey the energy with which Cristiano Ronaldo arrived in Italy and the strength he demonstrated match after match in every stadium. I chose a goal in particular that showed an athleticism and a desire to reach the top that few players have, completely bypassing the defense with a single leap.”

Finally, the Saudi artist Shaker Kashgari will design an NFT to celebrate the latest chapter of Ronaldo’s career in Saudi Arabia.

The auction and the prizes for the fans 

From June 14 to 18, there will be an online auction for a limited collection of 7 super rare NFTs, designed by Mr. Dheo, a tribute to Cristiano Ronaldo’s connection with Portugal.

I possessori del NFT SSR Portogallo avranno l’opportunità di partecipare a un’esperienza esclusiva con il calciatore, che include un viaggio a Riyadh, un biglietto per una partita e una celebrazione personalizzata del gol. 

The super fans who collect all the NFTs from the fourth collection will also have the chance to win one of the special SSR NFTs for free by participating in a quiz starting from June 11th.

At the cost of 35 dollars (USD) in all locations, except for the limited NFT SSR, the collection will introduce a “Collect to Earn” mechanism for access to NFT utilities. 

The collectors will be able to earn rewards from the first purchase of a Forever Worldwide NFT, such as vintage jerseys, soccer tickets, signed posters, and printables. 

Furthermore, also the possibility to send questions to which Cristiano will respond in a video made specifically for the holders of the NFT.

Cristiano Ronaldo e Binance present “Forever Worldwide: la strada per l’Arabia Saudita”, una collezione NFT pensata per i fan desiderosi di possedere frammenti dell’eredità di CR7.

Questa quarta release, parte della partnership pluriennale tra Binance e il campione portoghese, celebra la carriera leggendaria di Ronaldo e il suo legame con i tifosi e con luoghi simbolici. 

I fan che acquisteranno questi NFT potranno godere di numerosi vantaggi, tra cui magliette vintage, biglietti per le partite e l’opportunità esclusiva di incontrare Cristiano Ronaldo di persona.

Let’s see all the details below. 

Exclusive NFTs, unique advantages, and meetings with Ronaldo in collaboration with Binance

As anticipated, Cristiano Ronaldo and Binance unveiled today their latest NFT collaboration, introducing the collection “Forever Worldwide: The Road to Saudi Arabia”.

This nuova serie di NFT racconta la vita e la straordinaria carriera di Ronaldo, dalle sue umili origini a Madeira fino a diventare una leggenda del calcio mondiale. Offrendo così ai fan esperienze innovative e ricompense esclusive.

The fourth release of the multi-year partnership between Binance and Ronaldo offers fans the opportunity to explore the key locations of CR7’s career: Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. 

To create this collection, local artists with deep ties to these territories were carefully selected, whose unique designs contributed to the realization of each NFT. Cristiano Ronaldo stated about it:

“It is exciting to think that, thanks to this collaboration with Binance, my fans can carry fragments of my football history with them. Each stage of this new collection has a special meaning for me. Working with artists capable of capturing the unique emotions of each place that has marked my career makes this experience even more special. Thanks to the NFTs, these moments of my journey can live forever.”

Rachel Conlan, Chief Marketing Officer di Binance, commented: 

“The incredible journey of Cristiano Ronaldo, from his humble beginnings to a legend of world football, has inspired fans around the world and allowed us to witness this extraordinary rise. To represent this journey, we have collaborated with him to create our most extraordinary NFT collection ever, offering the best rewards ever seen for sports enthusiasts and showcasing artistic talents personally connected to iconic places in Cristiano’s life. Together, we are committed to redefining fan engagement in sports.”

The drops of Ronaldo’s NFT collection: masterpieces of Madrid, Turin, and Saudi Arabia

“Forever Worldwide: The Road to Saudi Arabia” will be launched in two phases during the next football season and will culminate in an auction in June for a limited collection of Super Super Rare NFT (SSR).

Il primo drop avverrà oggi 29 maggio e include le iconiche location di Madeira, Lisbona e Manchester. 

The vibrant artworks of the Portuguese artists Katt Phatt (Madeira) and Rodrigo Doin (Lisbon) represent the places where Cristiano Ronaldo’s journey began, offering fans the chance to own a fundamental piece of his glorious career. 

Questo primo drop includerà anche l’opera d’arte NFT dell’artista di Manchester John Sheehan, che rende omaggio alla rapida ascesa di Ronaldo a Manchester.

Il secondo Drop sarà lanciato il 6 giugno e includerà incredibili capolavori che rappresentano Madrid, Torino e Arabia Saudita. 

The drawings of the Spanish artist Lisett Ledón depict the unprecedented success of Ronaldo in Madrid, embodying his passion for the Spanish championship. 

Pasquale Garibaldi celebrates the period in Turin, highlighting the legacy of the champion in Serie A and in Italian football, as explained by Ronaldo: 

“Torino marked an important chapter in my journey. It is the place where I discovered and embraced a new football culture and where the extraordinary tradition of Italian football inspired me to push myself further. The experience spent in Italy was a beautiful shared story that involved all my fans.”

The artist Pasquale Garibaldi on the other hand adds: 

“Fascinated by the historical heritage of the city of Torino, I tried to convey the energy with which Cristiano Ronaldo arrived in Italy and the strength he demonstrated match after match in every stadium. I chose a goal in particular that showed an athleticism and a desire to reach the top that few players have, completely bypassing the defense with a single leap.”

Finally, the Saudi artist Shaker Kashgari will design an NFT to celebrate the latest chapter of Ronaldo’s career in Saudi Arabia.

The auction and the prizes for the fans 

From June 14 to 18, there will be an online auction for a limited collection of 7 super rare NFTs, designed by Mr. Dheo, a tribute to Cristiano Ronaldo’s connection with Portugal.

The possessors of the NFT SSR Portogallo will have the opportunity to participate in an exclusive experience with the footballer, which includes a trip to Riyadh, a ticket for a match, and a personalized goal celebration. 

The super fans who will collect all the NFTs from the fourth collection will also be able to win one of the special SSR NFTs for free by participating in a quiz starting from June 11th.

At the cost of 35 dollars (USD) in all locations, except for the limited NFT SSR, the collection will introduce a “Collect to Earn” mechanism for access to NFT utilities. 

I collezionisti potranno guadagnare premi fin dal primo acquisto di un NFT Forever Worldwide, come maglie vintage, biglietti di calcio, poster firmati e stampabili. 

Furthermore, also the possibility to send questions to which Cristiano will respond in a video made specifically for the holders of the NFT.

The creators of STEPN have launched a new social-lifestyle app STEPN GO, with which users can earn by walking, jogging, and running with digital NFT sneakers. Along with the new product, the company also introduces the new GO GAME TOKEN (GGT).

STEPN GO: the “Move-To-Earn” with NFT sneakers

FSL, the creators of the famous app STEPN, have launched a new social-lifestyle app in the “Move-to-Earn” category: STEPN GO.

In practice, through STEPN GO, users can earn by walking, jogging, and running with digital sneakers NFT.

Not only that, but today the Whitepaper of the app and the Tokenomics model were released, which introduces a new game token: GO GAME TOKEN (GGT).

Along with gains in GGT, a PvP game function will allow users to earn also in GMT, the token of the FSL ecosystem.

With STEPN GO, the company wants to involve its community more and more in Web3, by incorporating social elements. Among the various ones, there is the “Haus System”, a lending system that allows users to share their NFT Sneaker with friends and family who are new to the app, and to split their earnings.

Alternatively, another feature is the “Interactive Map”, which will allow users to see the avatars of other players and add them as friends within the platform. 

STEPN GO: the app that pays users to move with NFT sneakers

The STEPN GO app arrives after the success of the first original STEPN app, launched in 2021, which has conquered over 5.6 million registered users, who own over 1 million Sneaker NFT.

A tal proposito, Yawn Rong, co-founder di FSL, ha commented:

“La comunità di STEPN ha richiesto funzioni sociali all’interno dell’applicazione fin dai primi giorni di STEPN. Siamo quindi entusiasti di svelare queste nuove funzionalità, che porteranno STEPN GO ad essere adottato a livello mainstream. Oltre al meccanismo Haus e alla mappa interattiva, implementeremo anche elementi PvP all’interno dell’app. La community è al centro di tutto ciò che facciamo in FSL e siamo entusiasti di annunciare oggi questa pietra miliare, che rafforza il nostro impegno a potenziare e coinvolgere i nostri utenti.”

Anche, Jerry Huang, co-founder di FSL, ha aggiunto:

“With STEPN GO, anyone can enroll their friends and family in web3 without having to create a wallet or purchase NFTs. Exercise will be more fun and rewarding. We will combine fitness with many enjoyable experiences, including having customizable avatars with unique outfits!”

The collaboration with Adidas

Il lancio di STEPN GO si aggiunge alle ultime novità del progetto crypto settore gaming di STEPN. 

And in fact, last month, STEPN announced its new one-year collaboration with the famous sportswear brand Adidas, launching together the Genesis Sneakers NFT collection. 

It is about 1000 pezzi in the Non-Fungible Token format, developed on the Solana blockchain. The new collection is sold on the MOOAR marketplace, at the price of 10,000 GMT each. 

The past two weeks have been extremely challenging for all those working or simply investing in the cryptocurrency markets and the NFT world, which has also entered a bear market phase.

Crypto market and NFT world hit by bear market

At the time of writing, for example, BTC is trading at $29,566 and ETH at $2,007, and as we all know, when the value of the two main cryptocurrencies plummets as a direct consequence, all other tokens also depreciate. 

This time, however, the bear market has not only overwhelmed the price of the tokens of the most well-known projects, but also the price of the Non-Fungible Tokens, particularly the blue chip projects.

CryptoPunks, Bored Ape Yacht Club and Otherdeed NFTs lose value

Blue-chip projects from the NFT world have been strongly affected by the general market trend in recent days.

Projects such as CryptoPunks, Bored Ape Yacht Club (BAYC) and others have hit record lows over the past month. In fact, their prices have dropped 63% since 12 May.

By contrast, another NFT project worth considering is Yuga Labs’ Otherside metaverse.

Yuga Labs sold 55,000 Otherdeeds immediately after the launch of its new project at the end of April. These are the unique plots of land required to claim a space in Otherside.

The lowest price reached in May was 1.52 ETH.

Currently, Otherdeed NFTs are facing a decline in transactions, with numbers dropping from $375 million to $6.5 million. However, they continue to be one of the 10 collections with the highest trading volume.

Otherdeed NFTs are behind projects such as Mutant Ape Yacht Club and BAYC in the rankings.

ApeCoin seems to remain one of the best cryptocurrencies this year

Speaking of Yuga Labs and its exciting new projects, we cannot fail to mention the performance of its newest Coin recently on the market: ApeCoin.

APE is the ecosystem-native cryptocurrency chosen by Yuga Labs as its governance token. 

Despite the fact that the virtual currency has only been on the market for a very short time, its market capitalization is in 47th place, at $3.445 billion.

Naturally, like all other tokens in circulation, APE also lost value after reaching its ATH at the beginning of May, reaching $6,71. 

The price thus fell by about 50,42% and APE’s daily trading volume also dropped by double digits, falling by about 40%.

Despite this momentary price drop, forecasts seem to confirm that this token has a very good chance of becoming one of the best cryptocurrencies of 2022.

Meta’s project may help the NFT market trend

While the crypto and non-fungible token markets are going through a challenging time, Meta is continuing to test Instagram’s new feature to be able to display NFTs on the platform.

The integration of NFTs within one of the most popular social networks will at first be aimed at a small group of Instagram users and creators who are already familiar with the functionality of non-fungible tokens. 

Once available, it is very likely that this new feature will have a strong impact on the performance of the NFT market, or so it is hoped. 

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