NFT Market Developments

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The once wildly hyped, NFT-renting platform, Rentable has shut down all operations after its founder stated that it had failed to get any traction from the market. According to the platform, NFT rentals have ceased, and withdrawals will continue until mid-October. The concept initially did seem feasible, where NFT holders could rent out NFTs instead of keeping them in their wallets bringing them no monetary value. However, the craze with NFTs seems to lie in its own rather than temporary possession.

Ubisoft has apparently backtracked on its earlier enthusiasm towards NFTs, following the heat it faced for its Quartz project. In a recent interview, CEO Yves Guillemot stated that the company is merely researching NFTs, as opposed to committing to a forward-looking strategy for digital assets. The dial-down comes after Ubisoft’s core gaming market, which is entirely distinct from NFT enthusiasts criticized the shift.

The most widely followed blockchain story of Ethereum’s Merge has been of particular interest within the NFT spaces. The most predominant criticism against NFTs was their environmental impact due to their being on the Ethereum network, which had been using the energy-intensive proof-of-work concept. Now with Ethereum set to transition to a proof-of-stake system, its carbon emissions are set to be cut down by 99%. This could open up significant opportunities for NFTs, without the environmental baggage on their shoulders.

NFTs to Watch

Otherdeed for Otherside

The Otherdeed for Otherside NFT has been gathering tremendous hype in recent days. With a daily trade volume of 470 ETH and an almost 200% rise in a single day, Otherdeed clearly has the market’s attention. This is the key to owning land in the Otherside metaverse. The deeds to these virtual lands purchased have unique characteristics in terms of their sediment, environment, resources, as well as hidden artifacts.

There is a total of up to 100,000 Otherdeeds offered, while existing owners stand at just above 34,000. As the hype continues to grow around this mega-multiplayer RPG, the value for Otherdeeds will continue to rise.

Anomura Mystery Bowl

Yet another NFT that has been surging in popularity recently has been that of the Anomura Mystery Bowl. This is part of the wider Oceanus virtual universe within which the game Anomura is set. Anomura is a strategy RPG game where players can earn digital collectibles and currency after winning exciting yet classical games.

Volume for the Anomura Mystery Bowl stands at 409 ETH, with a 506% price rise seen in the last 24 hours. The Anomura Mystery Bowl is a collectible of mystical energy, which would deliver players a boost or an in-game advantage.

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