In this week’s newsletter, whales have sparked a resurgence for non-fungible tokens (NFTs) on the BNB Chain. Lamborghini has started minting its exclusive Revuelto NFTs, and Infinex is set to integrate with OpenSea and Blur to feature the top 500 crypto assets. Despite a drop in average daily buyers of NFTs on the BNB Chain, large investors, or “whales,” have kept the network active, continuing to buy, sell, and trade NFTs.
Data from blockchain analytics firm Messari for the third quarter showed that NFT volumes rose, reaching a daily average of $600,400. The daily average sales also grew to 8,900, up 47% compared to the previous quarter. However, the average daily buyers dropped to 2,300, a 53% decline from the previous quarter.
Lamborghini Revuelto NFTs & Infinex update
On Nov. 7, luxury car brand Automobili Lamborghini launched its Revuelto NFTs. Animoca Brands will feature these digital collectibles in games it develops, letting players take Lamborghini cars for a spin in the virtual world. Additionally, Lamborghini has partnered with crypto payment provider Transact as its “NFT Checkout” partner, offering multiple payment options for minting the NFTs.
Decentralized finance and NFT platform Infinex will release an updated version in early 2025. In an interview, Infinex founder Kain Warwick shared that the company plans to introduce new architecture to speed up integrations and enhance the platform’s performance and user experience.
The executive mentioned that this update will allow the platform to connect with marketplaces like OpenSea and Blur in two to three weeks, much quicker than the current two to three months it usually takes to integrate. Two OpenSea users who claimed the NFT platform sold them unregistered securities have decided to drop their class-action lawsuit after a judge ruled in favour of OpenSea’s request for arbitration.
Judge Cecilia Altonaga of the Florida Federal Court gave OpenSea the green light to proceed with arbitration, prompting the users to withdraw their case. The user’s lawyer, Adam Moskowitz from The Moskowitz Law Firm, explained that they had no option but to “dismiss the pending case.”
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