NFT Market Update - 16th September, 2022

Ethereum’s upgrade to PoS may have placed the cryptocurrency back in the crosshairs of the SEC. Chairman Gary Gensler reportedly said cryptocurrency that allow holders to “stake” could be a security under the Howey test, according to The Wall Street Journal.

Magic Eden(ME) is aggressively moving into Eth territory after proposing “A Marketplace for Apes, by Apes, built by Magic Eden”. ME’s vision is to build the ApeCoinDAO marketplace, the home for $APE holders to buy and sell ApeCoinDAO NFTs, including but not limited to BAYC, MAYC and BAKC, at a 0.75% transaction fee and no cost to the DAO.

Official historic Merge POAPs are available to buy for 10 USDC and Consensys (the company behind MetaMask) is offering a free commemorative NFT for the next 72hrs.

Solana trader EasyEatsBodega predicts Solana will have a 40% market-share of NFT sales volume by September 2023 compared to today’s figures of 16.5%.

Solana co-founder @rajgokal makes jab at Ethereum after gas for the first NFT minted on PoS cost $60,000 in transaction fees.

BAYC co-founder, Garga.eth calls tweet by ‘WuBlockchain’ “fake news” after their account tweeted, “according to a leaked document seen by Protos, Yuga Labs intends to launch a new collection of NFTs by the end of this year called Mecha Apes with the intention of raising another $50 million and 100,000 metaverse land pieces.”