Weekly Cryptocurrency, Blockchain, and NFT (Non-Fungible Tokens) Roundup

## NFT marketplace OpenSea lays off 20% of its workforce

OpenSea, an NFT marketplace, announced on May 27 that it would lay off 20% of its staff. The business says that they are laying off employees to ensure that they are best positioned to weather the economic downturn. One of the biggest NFT markets in the world, OpenSea’s layoffs indicate a slowdown in the Non-Fungible Tokens market.

## Crypto exchange Binance launches NFT marketplace

Binance, a cryptocurrency exchange, debuted its own Non-Fungible Tokens market on May 24. The market provides a selection of NFTs, such as digital art, collectibles, and gaming accessories. One of the biggest cryptocurrency exchanges in the world, Binance, has just launched an NFT marketplace, which shows how well-liked NFTs are becoming.

## Non-Fungible Tokens gaming company The Sandbox raises $93 million in Series B funding

The Sandbox, an Non-Fungible Tokens game firm, secured $93 million in Series B fundraising on May 24. In addition to SoftBank Vision Fund 2, Animoca Brands, True Global Ventures, and Galaxy Interactive also participated in the funding round. A blockchain-based game platform called The Sandbox enables users to build, control, and make money from their own virtual worlds. The funding round the company received is evidence of the rising demand for NFT gaming.

## NFT artist Beeple sells digital artwork for $70 million

NFT artist Beeple sold a digital piece for $70 million on May 18. The piece of art, “Everydays: Beeple made a collage called “The First 5000 Days” from 5,000 drawings he made every day for 13 years. The sum paid for “Everydays: The First 5000 Days” represents the highest amount ever for an Non-Fungible Tokens.

## Twitter CEO Elon Musk hints at plans to integrate NFTs into the platform

Elon Musk, the CEO of Twitter, made a suggestion on Non-Fungible Tokens integration on May 25. If NFTs were to appear on Twitter, Musk tweeted a poll to his followers. Over 2 million people participated in the poll, and 82% of them voted in favor of NFTs. Musk’s remark suggests that Twitter may add support for NFTs in the future.

From May 24 to May 30, these are only a few of the most recent stories in blockchain, cryptocurrencies, and NFTs. Although it is still in its infancy, the NFT market is expanding quickly. We may anticipate further innovation and Non-Fungible Tokens adoption as the market expands.

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