WAX co-founder William Quigley told Cointelegraph that despite the bear market, NFT technology remains promising.
Disney and Funko release trading card NFTs
Pop culture collectible manufacturer Funko has collaborated with Disney to launch nonfungible token (NFT) trading card packs, transforming its Pop! figurines into digital trading cards on the WAX blockchain.
Funko Pop! collectibles are physical figures known for their compact size and bobbleheads. Many of these are sought after by collectors, with some figurines selling for up to $100,000 on the secondary market.
The collectibles portray popular characters from franchises such as Marvel, Star Wars, DC Comics and others. The toy manufacturer also releases iconic figures from pop culture, often wearing different attires and striking unique poses.
The collaboration will see the issue of a new series of Funko Digital Pop! collectibles, which feature Disney’s Mickey Mouse, Minnie Mouse, Donald Duck and other characters. The digital NFT trading card packs will be released on Dec. 12 at 7:00 pm UTC. Those who purchase the NFTs will have a chance to get a rare physical Funko Pop! figure.
William Quigley, the co-founder of WAX, told Cointelegraph that despite the bear market in the crypto space, NFT technology remains promising. He said:
“Digital collectibles are fun to collect. It is fun to open digital packs and reveal the NFTs inside, and consumers enjoy that experience. In the case of Funko, the ability to tie the digital collectibles to physical collectibles only enhances that enjoyment.”
The executive believes that the trend of traditional companies tapping into Web3 technology will continue. “Although some companies may have been scared away initially by the market crash, as they see successful use cases such as those being delivered by Funko, the merits of the technology and consumer experience will bring them back,” Quigley added.
Sotheby’s auctions Bitcoin Ordinals project
Fine arts auction platform Sotheby’s is auctioning BitcoinShrooms, a Bitcoin Ordinals project. From Dec. 6 to Dec. 13, Sotheby’s New York will continue auctioning the NFT project based on the Bitcoin blockchain.
The project was created by the artist Shroomtoshi and was first unveiled during the auction. The collection includes various references, from Bitcoin’s technical concepts to iconic Bitcoin memes. Sotheby’s wrote:
“Elegantly weaving the nuanced tapestry of Bitcoin’s history, culture, and core technicalities, each unique, pixelated, and hand-crafted piece forms part of a masterful, yet playful guide to the revolutionary realm of Bitcoin.”
Sotheby’s said that the collection “captures Bitcoin’s essence” from the perspective of those who got into it very early. At the time of writing, bids for various BitcoinShrooms go from $28,000 up to $55,000 per piece.
Solana and Bitcoin competing with Ethereum in NFT sales
The NFT marketplace saw a slight shift as two emerging players took a chunk out of the NFT market, which Ethereum previously dominated. This week, NFTs in the Solana and Bitcoin networks are making strides, with Bitcoin outpacing Ethereum on certain days and Solana catching up in the third position.
On Dec. 12, the Bitcoin network surpassed Ethereum in 24-hour sales volume, according to the NFT sales tracker CryptoSlam. NFT sales in Bitcoin went over $24 million, fueled by various Bitcoin Ordinals NFTs raking in millions. The network also beat Ethereum in metrics like the 30-day sales volume, with Bitcoin getting over $463 million in sales vs. Ethereum’s $373 million.
Meanwhile, the Ethereum network clocked over $16 million in daily sales as NFT collections like Matr1x Kuku and Pudgy Penguins continue attracting buyers. Furthermore, data shows that the Solana network came in third, with over $6 million in 24-hour sales volume. Solana’s volume is mainly driven by the Tensorians NFT collection, the DeGods NFT project and Gaimin Gladiators.
While Bitcoin is making recent gains in the NFT market, the network is still far from beating all-time sales in the Ethereum network, which stands at over $41 billion. Currently, the Bitcoin network has bagged $1 billion in all-time sales and sits at the number six rank.
Source: Cointelegraph.com
