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Union, a modular interoperability platform, is partnering with decentralized NFT marketplace Stargaze to facilitate the transfer of Ethereum NFT blue chips to the Cosmos ecosystem via the zkIBC bridge.
Union’s zkIBC bridge will enable the transfer of high-value NFT collections such as CryptoPunks, Bored Ape Yacht Club and Pudgy Penguins from Ethereum to Cosmos.
This integration will also allow Stargaze NFTs to be listed on trading platforms such as OpenSea, while ERC-721 NFTs will be available in Stargaze.
The collaboration involves using Union’s zkIBC bridge to facilitate NFT transfer between Ethereum and Cosmos. The process includes creating an IBC channel between their test networks to ensure that NFT data is properly mapped and encoded. Union’s upcoming integration with AggLayer will also enable NFT transfers between Polygon and Stargaze.
Shane Vitarana, co-founder of Stargaze, said: “We are very excited to partner with Union to bring Ethereum’s best NFTs to IBC for the first time. It’s not just about moving assets, it’s about connecting communities and simplifying the blockchain experience. We are setting a new standard for interoperability and creating a more integrated NFT marketplace.”
Cor Pruijs, co-founder and CTO of Union Labs, also noted, “Trusted interoperability between Stargaze and Ethereum NFT is revolutionary. With Union’s zkIBC connection to Ethereum, we support shared messaging, allowing us to securely provide proof of merkle enablement to NFT. This efficient trading environment will revolutionize the NFT experience.”
This integration aims to increase the liquidity and availability of NFTs on Ethereum and Cosmos and is expected to attract more creators and collectors to both platforms.
- Artists can now take ownership and monetize their likeness through Training AI on NFTs with TITLES.
- NFT creator suite Zora just acquired leading NFT discovery hub Mint Fun, a move that will allow the platform to immediately tap into more collectors and collector-centric UX.
- Open social network Lens will launch a validium, and later a volition, on zkSync’s tech stack to support scaling its app ecosystem. Lens will support advanced privacy techniques for the Lens Network, using ZK proofs, opening up the possibilities for developers building privacy-preserving social use cases. Users can choose to settle financial transactions more securely with Ethereum DA, while opting to secure social transactions on Validium with a separate DA provider. Separate instances of Lens Protocol can be deployed on other EVM and non-EVM networks. Users and developers will see major UX upgrades. These include gasless, signless transactions using Account Abstraction, embedded wallet support, network bridging and near instant transaction finality.
- Farcaster Decentralizes. Previously, channels — like subreddits on Reddit — were only available in-app on Warpcast, the most popular Farcaster client. Today, Farcaster creator Dan Romero confirmed that channels will be brought in-protocol by the end of this summer. This means like accounts, channels will soon be onchain and sovereign on Farcaster. Communities built in these channels will be owned by their creators, free from the control of any one platform and with considerable flexibility over ownership and economics.
- Zaar introduced Zaar Chain: The Fun Network. Built as an interwoven rollup on Initia with Celestia underneath.
The Non-Fungible Network. Zaar Chain begins by bringing a suite of NFT primitives built for the interwoven modular eco to a rollup juiced up with chain-level mechanisms for traders and creators. With Initia’s interwoven nature, NFTs on Zaar Chain are transferable to and from nearly any other network.
In partnership with is a research-driven, algorithmic liquidity provider Protecc Labs, rest-assured that NFTs living on Zaar Chain will have access to deep, resilient liquidity.
Zaar Chain will be released later this year.
- The Metaplex Foundation is excited to introduce MPL-404, a framework and on-chain protocol focused on the intersection of fungible and non-fungible assets known as “hybrid DeFi”. As part of this initiative, “SPL-404”, the leading hybrid DeFi standard on Solana pioneered and fully developed by Mutant Labs, will be contributed to the Metaplex Program Library. Mutant Labs will be contributing its “SPL-404” swap program functionality to the Metaplex Program Library (“MPL”), as well as lending its expertise to developing new hybrid DeFi programs and tooling to grow the MPL-404 ecosystem. Through new on-chain hybrid programs that leverage Metaplex NFT standards such as Core and Token Metadata, combined with powerful self-serve developer tools and SDKs,Hybrid DeFi is designed to bring the liquidity of fungible tokens to non-fungible assets by providing collectors the ability to swap between fungible and non-fungible versions of the same asset.
2. New tabs on Coinmarketcap:
Disclaimer. To date, analytical tools are still evolving and provide only approximate data that do not cover all chains, DAG systems and other types of distributed ledgers, as well as NFTs or less common types, such as utility or financial.
Statistics of the entire NFT market.
Global Markets (30D)
In May, the total number of users decreased, Polygon moved up from 5th place to 2d place. Nevertheless, trading on Bitcoin brings the most revenue.
Royalties on Solana have almost halved, making the Ethereum the top of the list.
After the drop, the number of users on Tensor fell almost 5x, and Magic Eden regained the lead.
Most of the revenue comes from bitcoin trading
But volumes have fallen by almost half, allowing Blur to beat the competitor
In terms of royalties, Magic Eden is also unchallenged in the lead, although competitors are having an increasing struggle.
The largest range of collections remains at Opensea
Blockchains by NFT Sales Volume, May 2024. The 900% growth allowed Blast to rise to fourth place.
All L2 NFT transaction count in this mounth. Linea activity is down almost 100х from last month.
NFT Collection Rankings by Sales Volume in May. Blast Collection Fantasy Top breaks right into 2d place.
NFT Lending TVL Rankings in May
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