NFT Market Update - 12th May, 2022

Crypto markets fell sharply after Tether, the world’s biggest stablecoin, broke its $1 peg.

Yuga Labs revealed “The Voyager’s Journey” on its website and tweeted a video demo outlining the next steps in the planned metaverse game.

A rare BAYC ‘Trippy fur’ ape sold for a loss of 555ETH, ca. $1.1 million dollars, the seller purchased it seven months ago.

Meta announced starting this week on Instagram, users can share NFTs they created or purchased.

Coinbase had a dismal first-quarter, reporting a loss of $430 million, 19% drop in monthly users, and told customers that in a bankruptcy event, their crypto assets could be subject to bankruptcy proceedings.