According to recent reports, Binance, currently the world's largest cryptocurrency exchange by trading volume, controlled 92 percent of global bitcoin trading volume at the end of 2022, as compared to 45 percent at the beginning of last year. The increase in bitcoin trading volume on Binance is reportedly attributable to its move to eliminate trading fees in the beginning of the summer and the collapse of the cryptocurrency exchange FTX.
According to reports, cryptocurrency newsletter MilkRoadDaily recently shared data on the total royalty income earned by various non-fungible token (NFT) projects. Yuga Labs had total royalty income of $107.8 million from three non-fungible token (NFT) projects, including $49.9 million from its Otherdeed for Otherside project. Yuga Labs' first NFT collection, BAYC, reportedly earned $32.3 million, while its MAYC collection earned $25.6 million. Other NFT collections that reportedly topped the list of royalty income earned include Azuki ($41.5M), CloneX ($27.7M), Moonbirds ($27M), Doodles ($17.1M), RTFKT MNLTH ($16.5 million), NFT Worlds ($12.8 million), and Beanz ($11.2 million).
In other news, a major U.S. financial services firm recently announced an accelerator program that "will harness Web3 technologies on the Polygon blockchain, forging new territory by connecting artists with mentors and fans in an exclusive development program." According to a press release, the program will begin in the spring of 2023 by preparing five artists to "build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community." The announcement was made alongside the blockchain application development company Polygon Studios.
For more information, please refer to the following links:
- Binance Controlled 92% of Bitcoin Spot Trading Volume at End of 2022: Arcane Research
- Yuga Labs' NFT royalty income hits $107.8M in 2022
- Mastercard announces Web3 spotlight program to develop & launch emerging musical artists in the digital economy
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