cryptojournalist
The NFT market showed signs of a comeback in October, with monthly sales jumping by 18% to $356 million. After a sluggish seven months, this boost brings hope to the space. According to CryptoSlam, not only did sales increase, but transactions also saw a 42% rise, hitting 7.2 million in October from 5 million in September. This renewed activity hints at growing interest after the NFT market’s peak in March and the dip that followed.
Mutant Ape NFT Scammer Dodges Jail, Pays Big
The creator behind the “Mutant Ape Planet” NFT project, Aurelien Michel, pleaded guilty to scamming investors. Federal prosecutors had pushed for a longer prison sentence, but Michel only served one month and won’t face further jail time. Instead, he’s required to forfeit $1.4 million of the nearly $3 million he gained from the project, along with a $15,000 fine. Michel had openly admitted on social media to “rug-pulling,” leaving investors in the lurch after collecting their money.
OpenSea’s New Platform Promises a Fresh Start
Popular NFT marketplace OpenSea is gearing up for a relaunch in December, aiming to offer a better experience with a completely rebuilt platform. CEO Devin Finzer shared that the new OpenSea is designed to keep up with changing user expectations and innovation. DappRadar’s “nederob” hinted that some users are hoping for an airdrop with the relaunch, although OpenSea’s U.S. location might make this unlikely.
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