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Can Wall Street algo traders win at the NFT game?

Quick Take Crypto heavyweight GSR is set to join a tiny cabal of algorithmic traders operating on NFT marketplaces like OpenSea. But in a market as illiquid as it is non-fungible, can quantitative investors find an edge?  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Sci-fi game Parallel to donate NFT auction proceeds to Khan Academy

The non-fungible token (NFT) sci-fi trading card game Parallel will be auctioning off a single edition NFT and giving all the proceeds to the online learning platform Khan Academy.  “Auctions are a tried and true way to raise money for nonprofits, but this is the first time we’ve been the beneficiary of an NFT auction,” Khan Academy tweeted on Tuesday. The auction will start on Wednesday, January 19 at 5 p.m. EST and end at the same time on Friday …

Man sells 933 selfies as NFTs for $3 each — and the collection’s now worth millions

Ghozali Ghozalu, 22, from Indonesia, has become an overnight celebrity in the non-fungible token (NFT) space after selling pictures of himself on OpenSea. The collection, dubbed “Ghozali Everyday,” features selfies taken by the 22-year old every day from when he was 18 to 22, covering a span of 2017 to 2021. Ghozali sold the pictures at 0.001 ETH ($3.25) and they took a few days to sell out. “It’s really a picture of me standing in front of the computer …

GSR’s Richard Rosenblum says the firm will get into NFT trading in 2022

Quick Take GSR’s co-founder and president Richard Rosenblum says the company is developing software to algorithmically trade NFTs. The advent of larger, more sophisticated NFT collections — in particular, the generative art peddled by Art Blocks — is what persuaded the firm to expand. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

NFT marketplace OpenSea kicks off the new year with strong volumes

NFT marketplace OpenSea has seen very strong trading volumes so far this month. A frenzy that, at this pace, puts it on track to set a new monthly record. According to The Block’s Data Dashboard, NFT trading on OpenSea in January has already exceeded $1.36 billion — just 10 days in. By comparison, the platform’s highest-ever monthly volume, recorded in August 2021 was $3.16 billion. If the first 10 days of January are any indication, then OpenSea could be set …

NFT marketplace LooksRare goes live with vampire attack on OpenSea

An upstart NFT platform called LooksRare has gone live today, as more marketplaces continue to crop up to try to take on market leader OpenSea. LooksRare claims to be a community-focused marketplace that will develop new features based on what its users want. The marketplace explained in a blog post that it indexes all NFTs that exist on the Ethereum blockchain so that they can be traded straightaway — and offers can already be made on them. It also lets users buy …

OpenSea is reportedly eyeing raise that would value it at $13 billion

NFT marketplace OpenSea has lined up investors for a new funding round that would value the company at $13 billion. A successful raise would make it the latest cryptocurrency firm to ride the venture capital wave to deca-unicorn status.  Sources tell The Block that the firm, which raised at a $1.5 billion valuation last year, was planning to raise at a valuation as high as $15 billion, but investors have settled on a lower figure. Eric Newcomer first reported the …

NFT trading volume surpassed $13 billion in 2021

The trading volume of non-fungible tokens (NFTs) surpassed $13 billion in the year 2021, according to The Block Research. That figure, based on data as of December 28, is a massive 42,988% increase compared to 2020 NFT trading volumes. Last year, NFTs had a trading volume of just over $33 million. OpenSea is the leading NFT marketplace. It facilitated nearly 88% of the total trading volumes for 2021, or over $12.5 billion, according to The Block Research. Trending Stories

Former Lyft executive joins NFT marketplace OpenSea as CFO

Brian Roberts, the former chief financial officer (CFO) at ride-sharing startup Lyft, has joined OpenSea as CFO. According to Bloomberg on Monday, Roberts expressed optimism in OpenSea’s prospects — likening the company’s potential to that of eBay in the mid-90s. OpenSea, the largest non-fungible token (NFT) marketplace according to TheBlock’s Data Dashboard, has recently fielded investment offers from several potential backers at a $10 billion valuation. The proposed investment round could see the company raise around $1 billion from interested …