12/08/2024 Immutable to shut down NFT marketplace

Immutable wrote that it would rather support marketplaces within the ecosystem than compete.

Immutable to shut down NFT marketplace

Immutable wrote that it would rather support marketplaces within the ecosystem than compete.

Gaming and non-fungible token (NFT) blockchain Immutable announced that it’s retiring its NFT marketplace to focus on expanding its ecosystem through partnerships.

Immutable said it would wind down the marketplace’s operations on Aug. 13. According to the network, the marketplace was built to showcase available features using the Immutable software development kit (SDK).

However, since its launch, the network said there are already projects that have been created with it and have grown. Immutable wrote:

“As a company, rather than compete, we would prefer to support these marketplaces and see the Immutable Ecosystem grow.”

The network urged the community to explore marketplaces available within the Immutable ecosystem.

User assets and listings

Immutable also reminded the users of its NFT marketplace that their assets will remain available as they “live on the blockchain.” These are linked to the wallet addresses and will stay with the users regardless of which marketplace or game they use.

Furthermore, the network also highlighted that the Immutable Marketplace uses a global order book. This means that marketplaces using the same order book will show similar listings for buying or selling. Immutable added that users must connect their wallet and see existing listings on any marketplace.

NFT volume downturn

The announcement comes as NFT sales volumes continued to drop. In the second quarter of 2024, the sales volume for NFTsshowed a 45% quarter-on-quarter drop. Data showed that in the first quarter of 2024, digital collectibles recorded a volume of $4.1 billion, shooting upward from the last quarter of 2023.

However, the market failed to continue its upward momentum. In the second quarter of 2024, NFTs only showed a sales volume of $2.24 billion, reaching their lowest quarter performance since the third quarter of 2023.

Furthermore, July recorded thelowest sales volume for NFTsin 2024, continuing its downward momentum. CryptoSlam datashowsthat July only recorded a sales volume of $429 million for NFTs.

Despite this,people working in the industry still believe in NFTs. Web3 professionals like CryptoSlam founder Randy Wasinger said in a previous interview that despite its lower volumes, NFTs are “here to stay.”

Arts

https://cointelegraph.com/news/immutable-closes-nft-marketplace-ecosystem-focus

Interesting NFTs
Hell Riders
A still image NFT. Exclusive to makersplace. February 2020.
The Last Samurai #1
The Last Samurai is an art project composed of 1500 images of Japanese samurai in dry brush and ink style. The creation lasted for one and a half years. The content and emotions of each work is the non-homogeneous. Every piece is unique.
Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
The River Plate Machine
Digital illustration for the cover of These Football Times magazine in its issue dedicated to the Argentine football team "Club Atlético River Plate". Original from 2020. For this cover I have created a complex machine that links all the generations and legends of the club with its great shield and emblem crowning the center as the heart of the fantasy machinery. Full of details and ornaments this is a highly detailed work. An authentic trip to the history of River through the imagination and the colors of the club. The most significant titles of the club are also included, such as the Libertadores Cup, the famous Intercontinental and the new Super Liga and the Argentine Cup in its newest cup design. If you see a hen, don't be surprised, it is the nickname that its fans give themselves, and they like it. ----- https://javierarres.com/about.html
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By OthersideDeployer