Sead Fadilpašić

Last updated:

February 29, 2024 07:02 EST | 3 min read

Get your daily, bite-sized digest of NFT news today – investigating the stories flying under the radar among the latest NFT news.

Here’s the latest form NFT news today, February 29, 2024:

• NFT Market Data
• MagicEden Marketplace in Live
• Parallel Enters Open Beta

NFT Market Data

Non-fungible token (NFT) sales volume is up 4% over the past 24 hours.

According to CryptoSlam, it currently sits at $55,819,024.The number of buyers is down nearly 10%, sellers 2.6%, and transactions 3.4%.

Looking at the top 10 collections by sales volume, we see that the novel Pandora collection is back at the top.

After dropping a couple of places earlier this week, it is back to being number one with a sales volume of $4.6 million.

It has seen a 141% over the past day.

Uncategorized Ordinals is in second place. It’s up 1.7% to $3.2 million.

Moreover, the collection that has seen the highest increase is Seraph Soul Series. It’s up a whopping 203,514% in one day to $2.7 million.

Meanwhile, CryptoPunks’ sales volume fell the most in the same period: 43% to $1 million. As for blockchains, Ethereum is back to being number one with a 15% increase in sales to $26.9 million.

Bitcoin is back in second place, after briefly overthrowing Ethereum. Its sales fell 1% in a day to $15.5 million.

MagicEden Marketplace in Live

In the latest NFT news today, the Ethereum NFT marketplace by the Magic Eden marketplace and popular NFT developer Yuga Labs is now live.

The announcement noted that marketplace features enforced royalties, aggregation, and diamond rewards.“We believe this is the best way to support creators and enable them to support their communities,” Magic Eden said.

Moreover, the team has seen the success of bringing royalties back to Solana. Not only is it possible, they added, but it is necessary to align with creators and build a sustainable model on Ethereum as well.

Furthermore, another goal is to enable users to find all available NFTs in one place – on this new marketplace.

“We believe that showing aggregated listings is needed to allow the industry a healthy transition towards royalty-enforced Magic Eden listings,” the teams said.

2/ After years of creators feeling sidelined and communities losing their spark, we’re bringing the fun and creativity back to Ethereum NFTs.

Our Ethereum marketplace is now live and featuring:

🪄Enforced royalties: We believe this is the best way to support creators and enable…

— Magic Eden 🪄 (@MagicEden) February 27, 2024

Meanwhile, Yuga Labs co-founder Greg Solano said that to celebrate the new marketplace’s launch, royalties will be lower for 69 days.

To celebrate the launch of Magic Eden’s Ethereum marketplace, we’re lowering royalties for 69 days: 2.5% for all our royalty-enforced collections, and 1% for legacy collections.

— Garga.eth (Greg Solano) 🍌 (@CryptoGarga) February 27, 2024

Yuga Labs announced a collaboration with Magic Eden to introduce the Magic Eden Ethereum Marketplace in November 2023.

The two teams announced that this would become the first major Ethereum marketplace with a contractual obligation to uphold creator royalties.

They added that the marketplace “reinforces Yuga Labs’ and Magic Eden’s commitment to protecting creator royalties and innovating on a model where more builders come to the space.”

Furthermore, Yuga Labs said this week that it would block marketplaces that don’t support royalties.

Yuga Labs CEO Daniel Alegre in the November press release that “Magic Eden is putting their money where their mouth is, and together we are supporting the building of an Ethereum marketplace that will back creators, without whom web3 would not exist.”

02.27 is here. The @MagicEden Marketplace, created in collaboration with Yuga Labs, is now live. pic.twitter.com/gI8c9dQUJH

— Yuga Labs (@yugalabs) February 27, 2024

Parallel Enters Open Beta

NFT trading card game Parallel is today launching into Open Beta with Season 1: Toxic Reckoning. According to the blog post, “it’s finally here.

The open beta release of our baby out into the world.”The team revealed a new Battle Pass featuring a new playable card, exclusive cosmetics, and additional rewards that will be starting with Open Beta Season 1. Also, the new card is a Universal Legendary card: Ghosan, Viper of Ceres.

“Any and all players will now be able to access and play the game,” the team behind it said.

Open Beta is coming!

More details and our Open Beta Launch Trailer exclusively on ScreenRant.

— Parallel (@ParallelTCG) February 27, 2024

Moreover, updates include adjustments to PRIME emissions, Replication cost reductions, Apparition crafting adjustments, bug fixes, lower minimum required specs, and Closed Beta Season 7 raffle info.

Speaking of which, the raffle for Closed Beta Season 7 will happen after the first week of March. Users will need to claim and mint their cards before this deadline.

Furthermore, Open Beta Season 1 will include a Masterpiece and Special Edition raffle for Ghosan, Viper of Ceres.

The title “Viper of Ceres” can be earned by reaching Level 33 within the Open Beta Season 1 Battle Pass.

Notably, each season will offer new cards and cosmetics exclusive to the Battle Pass.

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