NFT Market Update 9th March 2023

The crypto-friendly bank, Silvergate, announced it will voluntarily liquidate and wind down, after it had stated that it was “less than well capitalized”.

Crypto-security expert, ZachXBT, announced he will no longer take community requests for research after he found the business model unsustainable.

Coinbase introduced Wallet as a Service, a way for companies or brands to seamlessly onbard their users to Web 3 and not require users to worry about seedphrases.

Digital art platform, Foundation, announced it has new functionality to allow the launch of 24 hour open editions directly from their website.

Illuvium, the Web 3 game development team, announced a new collectible card game, the proceeds of which will be used for a safety pool of funds to mitigate macroeconomic uncertainty.

Solana

Claynosaurs, the popular Solana NFT project, has done more 24 hour volume than Bored Ape Yacht Club, and is 2nd in overall 24 hour NFT volume for a single collection.

After Tensor, an NFT marketplace on Solana, announced its airdrop requirements, it officially gained 2nd place in total market share for marketplaces at 20%, whilst Magic Eden has fallen to sub 50% marketshare.