This week’s headlines in the blockchain world are certainly capturing attention. One of the hot topics is the launch of Axie Infinity’s card-based strategy game, Axie Infinity: Origins, on the Apple App Store. This eagerly awaited release spans across Axie’s most significant markets in Asia and Latin America. With the announcement, the native AXS token experienced a brief surge, rising over 12% from $7.16 to $8.04. However, the uptick didn’t last long, with the token now hovering just under $7.
The ever-growing NFT market is another focal point in this week’s news. Artist Jack Butcher released his new NFT collection, Checks Elements, which expands on his popular Checks ecosystem and comes with physical prints. In addition, a new DappRadar report suggests that NFT trading volume is set to dip below $1 billion for the first time this year. However, despite the drop in trading volume, there has been a spike in the number of weekly active wallets interacting with NFTs.
According to Sara Gherghelas, a blockchain analyst at DappRadar, this indicates that there could be more NFT traders in the market making smaller trades. Although trading volume remains an important metric for measuring activity in the NFT market, it has the potential to be manipulated by wash trading and transactions done by a small number of ultra-wealthy traders. As such, it should be considered within the context of the current market.
Taking the spotlight in the Bitcoin NFT space is the upcoming launch of crypto exchange OKX’s Bitcoin NFT marketplace. OKX’s wallet is expected to be the first multichain wallet to support BRC-20 trading, with the launch garnering plenty of interest.
On a more serious note, discussions around regulation in the world of artificial intelligence have come to the forefront. At a Senate Judiciary subcommittee hearing this week, US regulators expressed their support for the creation of an AI regulator. OpenAI CEO Sam Altman voiced concerns that AI technology could go “quite wrong” and cause “significant harm to the world.”
To sum up, this week’s events show a rapidly evolving landscape in blockchain technology, with Axie Infinity’s App Store debut and the fluctuating NFT trading volume showcasing both the triumphs and challenges within this exciting ecosystem. As cryptocurrency and blockchain projects increasingly make headlines, it’s crucial for enthusiasts, traders, and investors to stay informed on the developments in this dynamic space.
Source: Coindesk
