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Today in NFTs – April 2nd

April 2nd Round-up

OpenSea Adding Layer 2 Support

In partnership with Immutable X, OpenSea has announced that they’ll be adding layer 2 support to eliminate the wild gas fees associated with starting in their marketplace. This isn’t exactly a surprise as every marketplace will have to tackle the gas fee issue. More importantly, there were no specifics provided around timing of such a roll-out.

Funko takes majority position in TokenHead

The consumer experience for NFTs is going to be fundamental to the growth of the market moving forward. One market destined to experience massive growth in this space is vinyl toys of which Funko is a market leader. That’s why their decision to make a majority stake in TokenHead was not surprising.

TokenHead is a mobile application which enables you to store all of your NFTs and is powered by the the WAX network.

Enjin raises $18.9 million for Polkadot integration

Further demonstrating the shift to frictionless NFT sales, Enjin announced an $18.9 million funding round. The round included a large list of major crypto investors. Earlier this week the company outlined their vision of “a radically expanded, futuristic, cross-chain NFT highway called Efinity, built as a parachain on the Polkadot network.”

What’s most significant about this vision is that “end-users don’t even need a blockchain wallet”. In other words, blockchain is going to become invisible to the end user. This is a vision of which I definitely agree with.

Coinbase direct listing announced for April 14th

Yesterday, Coinbase announced their IPO via direct listing is scheduled for April 14th. While it has little impact on the NFT space as a whole, NFT related tokens available on Coinbase have been surging in recent months alongside the market. The IPO marks another milestone in mass adoption and investment in cryptocurrency.

Notable NFT Sales

Yesterday, CryptoPunk 8365 sold for $105,428. It was flipped for a $40,000 profit in 4 days. NBA Top Shot sales hit $3.8 million yesterday. However the Top Shot market as a whole has been cooling off recently, with no Top Shot items appearing among the top 20 sales of the day.

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