Pixelverse sends tokens to NFT holders, are NFTs expected to make a comeback?

Web3 professionals remain optimistic about a potential resurgence of non-fungible tokens (NFTs). Despite a 45% decline in sales volume during Q2 2024, experts believe NFTs could peak again.

Mohsin Waqar, CEO of Senet, sees a bright future as various industries integrate NFT technology, predicting renewed interest and peak activity in the NFT market.

Pixelverse PIXFI Token Soars Nearly 50% Post-Airdrop

Pixelverse, an NFT and gaming platform on The Open Network, launched its native PIXFI token via airdrop on July 18.

The airdrop distributed 10% of the tokens to holders of its Rare, Epic, and Legendary NFT collections. An additional 20% will be distributed to Pixelchain and Pixelverse users.

Pixelverse, known for the Telegram mini-game PixelTap, saw a significant user engagement, with 50 million users interacting during its initial launch.

Key Challenges for Mainstream NFT Adoption

Web3 experts highlight the main hurdles for broader NFT adoption: lack of new narratives, crypto’s negative reputation, and complex user experience. Dave Catudal, co-founder of Lyvely, points out that NFTs face a public relations issue rather than a technological one.

Tyler Adams, CEO and co-founder of COZ, mentions that the broader Web3 reputation impacts NFTs, where the actions of a few affect the community’s overall image.

ApeCoin DAO Member Proposes Bored Ape-Themed Hotel in Bangkok

A member of the ApeCoin DAO has proposed renovating a hotel in Bangkok with a Bored Ape Yacht Club (BAYC) theme. The proposal includes BAYC-themed rooms, an ApeCoin bar, and a swimming pool, requesting $356,000 in ApeCoin for completion.

The member, DeSmart, has secured an agreement with the hotel and offers 50 free nights of accommodation for ApeCoin holders, capped at one night per holder.