Originally published on: November 20, 2024
This week brought exciting news in the world of non-fungible tokens (NFTs). Sales volume experienced a significant surge of 94%, indicating a continued recovery trend as Bitcoin and other crypto markets rallied. The total sales volume reached an impressive $181 million across various blockchains.
Leading the surge were Ethereum, Bitcoin, and Solana, with Ethereum boasting a sales volume of $67 million, followed by Bitcoin at $60 million and Solana at $26 million. The average value of NFT transactions also saw a notable increase, rising to $133.08 from $71.11 within the week.
McDonald’s made headlines with its partnership with NFT project Doodles for the “GM Spread Joy” online promotion, featuring limited-edition holiday cups adorned with Doodles-inspired art. Purchasers of these cups stand a chance to win animated content and digital wearables through the McDonald’s app. Tariq Hassan, McDonald’s chief marketing officer, praised Doodles as an “agent of change” in the cultural landscape, highlighting its unique position as an entertainment brand with a fearless community.
In other news, former NBA star Shaquille O’Neal settled an $11 million lawsuit related to his promotion of the Astrals NFT project. The settlement comes in response to claims of financial losses by buyers of the digital collectibles. While O’Neal expressed his continued interest in the project, he chose to resolve the lawsuit by agreeing to the settlement terms.
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