It’s our first Monday edition of Nightly MintNFT prices and activity are slowing in the wider crypto market. However, markets and all other financial instruments embrace rock-bottom roosters.
According to Dune Analytics, OpenSea activity in recent days hasn’t been this low since December; while the market is still seeing substantial volumes, there is clearly a ‘cooling’ period that we’re seeing relative to January and February’s activity.
OpenSea's daily volume in ETH for OpenSea is at a low $50M USD per daily in the recent days but this pales when compared to February and January daily volumes. | Source: Dune Analytics
Nightly Mint
Immutable X Raises $200M At A $2.5B Valuation
Immutable X, a Layer-2 scaling platform, has partnered up with GameStop and TikTok. To start the week, the startup based in Australia raised $200M. This equates to a firm valuation of around $2.5B. The platform has it’s own marketplace, and seems to have a focus on video games and user-owned NFTs.
Latest Mint: Honoring NASCAR’s First Black Championship Driver, Wendell Scott
Nifty Gateway hosts a brand new NFT series in partnership to Wendell Scott Racing. It honors Scott’s legacy. Scott was the first African American driver to win a Grand National race in 1963 and is in the record books for being the only black NASCAR team owner – even today.
The NFT auction includes a 3D augmented reality digital car and trophy, and other editions of the NFT include additional monumental black athletes that have made the record books in sports – including Jackie Robinson and Arthur Ashe.
Each of the 1-of-1 NFT editions yielded more than $3K.
Similar Reading: The Bullish Szenario that Puts Bitcoin at $165K before $22K| The Bullish Scenario That Puts Bitcoin At $165K Before $22K
Immutable X's native token IMX has been able to kickstart its week after it announced significant fundraising efforts.Source: IMX/USD on TradingView.com | Source: IMX-USD on TradingView.com
The ‘Minty Fresh’ Take
Yep, it’s that time of year again. If you’re a U.S. resident, there’s one deadline around March and April that you’re probably not a huge fan of. Although the taxation and regulation of NFTs by government has been unclear, many people are now reporting NFT taxable gains in a manner similar to other simple tradable assets. Your mileage may vary – consult an accounting professional for questions as they relate to your specific tax jurisdiction.
I sent all of my crypto/nft tax documentation to my tax man. He called me to review it and told me he would contact me in 2 days after he had completed everything. It’s been 2 weeks and still haven’t heard back from him…
— Zoopa.eth (@ZoopaETH) March 7, 2022
Related Reading: Kiyosaki Suggests “Buy Bitcoin, Forget It”| Kiyosaki Says ‘Buy Bitcoin And Forget About It’
Featured image taken from TradingView.com Charts, and Pexels This content was not written by or associated with the mentioned parties. This content is not intended to be financial advice.