The Decentralized NFT Marketplace That You Should Know

🚨 In Case You Missed It

Goerli, Ethereum’s largest testnet, completed the move to Proof-of-Stake. Ethereum Foundation scheduled the Merge on mainnet for September 15-16.
BlackRock launched a private trust offering spot Bitcoin exposure to institutional clients in the US.
dYdX blocked user accounts that had previously interacted with Tornado Cash. Several accounts were incorrectly blocked, which were subsequently reversed.
OpenSea broke $25M in sales volume, reaching highest daily NFT sales volume in the last 2 months.
Arbitrum Nova was launched to the public. Nova is a new chain optimized for social and gaming applications.

📊 The Decentralized NFT Marketplace That You Should Know

Daily NFT trade volume and trade count on sudoAMM reached an all time high on August 10.
Daily NFT trade volume increased by 1,323% from 63 ETH on August 1 to 897 ETH on August 10. During the same period, daily NFT trade count increased by 919% from 345 NFTs to 3,519 NFTs.
The platform’s cumulative trade volume already surpassed that of Coinbase NFT ($9.3M vs. $6.6M) in approximately one month, despite launching two months after Coinbase NFT.
This rapid growth points to the innovative approach taken by sudoAMM, which is an AMM for NFTs developed by sudoswap that lets users trade using custom curves in individual pools.
Features of sudoAMM include a 0.5% fee with no royalties, access to instant liquidity for sellers, potential to earn fees by providing liquidity, and the ability to sweep collections with minimal gas fees.
Furthermore, floor prices for some top NFT collections are lower on sudoAMM than other platforms like OpenSea. Although the number of these NFTs listed on sudoAMM is fewer, we will likely see the listings grow with more organic adoption.
For more on NFT marketplaces, Delphi members can read our Delphi Insights report here.

⚡ Crypto Gaming Tokens and Funds

Gaming tokens are breathing a sigh of relief after being punished by the market relentlessly in 2022. It’s resulted in the majority of tokens in our comparison having positive price performance since the beginning of Q3, with the exception of ILV and RBW.

Although crypto gaming venture funding was at all-time highs in Q1 of this year, the growth was clearly slowing down relative to previous quarters. This is unsurprising given the declining appetite for risk globally.
We like the games, and investors clearly like them too. Since the start of 2021, the gaming space has received several billion dollars in venture funding.
In contrast, you almost need a microscope to see statistics for crypto gaming venture funding in 2020 on this chart. This massive amount of funding gives a financial runway to many games, allowing team to continue building despite gloomy market conditions.
For more, Delphi members can read our Delphi Pro report here.

🐣 Notable Tweets

OpenSea on Stolen NFTs

1/ Can we address the 🐘 in the room? We want to provide you more clarity and transparency around our stolen items policy ↯

— OpenSea (@opensea) Aug 11, 2022

Unlocking NFT Liquidity

1/ NFT value comes from attention. However, attention has a ceiling if sufficient liquidity does not exist.

Attention= Value, but Attention x Liquidity= Value^2

Check out my piece on capital efficiency and NFT liquidity solutions, summary below.

— Ronan Broadhead (@RonanBroadhead) Aug 10, 2022

Exploring ETH PoW Hardfork

Regarding ETHPoW: An Ethereum hard fork could be on the horizon.

Yesterday a made a thread on what it could mean.

This is a follow-up:

(i) what is a hard fork
(ii) risks of interacting with a forked chain
(iii) what happens with L2s?
(iv) why would a hard fork happen?

🧵

— OlimpioCrypto (@olimpio ⚡️) Aug 11, 2022

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