Miami-based Yuga Labs, the creator of major NFT projects such as BoredApeYC, CryptopunksNFTs, and many others, recently partnered with Magic Eden to launch the new Magic Eden ETH marketplace. The objective of this collaboration is to ensure that creators receive their royalties consistently. It marks a pioneering effort in the ETH marketplace space.
Yuga Labs and Magic Eden’s pioneering collaboration
The launch date is yet to be confirmed, but according to Yuga Labs, the marketplace is expected to go live at the end of 2023. This digital asset and blockchain technology company is renowned for creating the Bored Ape Yacht Club NFT collection.
However, on November 6, 2023, Yuga Labs’ Bored Ape Yacht Club released a statement on X (formerly Twitter) acknowledging “eye-related problems” that affected some ApeFest attendees. They have been actively reaching out to individuals since yesterday to identify potential root causes. Their estimates indicate that these symptoms affected fewer than 1% of the event’s attendees and staff. While most have reported improvements, they strongly recommend that anyone still experiencing symptoms seek medical attention for their well-being.
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Bored Ape Yacht Club phishing attempt amid challenges in the NFT industry
Additionally, two hours later, the Bored Ape Yacht Club posted another thread on X, cautioning users about the links below, as they might be spam or phishing attempts. They advised users to click on the links only after confirming their safety.
Moreover, in recent months, numerous exploitations have been observed in the NFT industry, discouraging new users from engaging with NFTs. Currently, the overall NFT market is facing challenges, as NFT sales and adoption have consistently declined since last year. Investor interest in NFTs has also significantly decreased.
According to the data by Nonfungible, the number of sales of NFT in the past year, a significant decline is evident. On November 7, 2022, NFT sales numbered around 21,994, and as of the current writing, NFT sales stand at approximately 2,942. This signifies an 85% decline in sales.