This week in crypto has been a positive one, with the market showing signs of growth and several developments indicating progress. NFTs have had another solid week on the whole, and Honduras has taken a step forward in terms of crypto use.

Highlights:

  • The Metaverse and GameFi niches have brushed off the worst of the market crash, experiencing little slowdown because of the recent bear market.
  • The Otherdeed NFT collection has crossed over $1 billion in all-time sales, becoming the fastest collection to do so.
  • The town of Santa Lucia in Honduras has begun to accept payments in crypto in a bid to boost tourism.
  • Blockchain security firm Halborn warned MetaMask users that they might be a target of a phishing attack.
  • Tiffany and Co. unveiled a collection of limited edition necklaces with CryptoPunks designs for $50,000.

This Week in Crypto

Metaverse and GameFi Brush Off Market Crash

While most of the market has experienced a tremendous pullback, one niche of assets has been bucking the trend. DappRadar noted in a report that Metaverse and GameFi projects have not been too affected by the market crash, with year-over-year transaction count increasing by 19%.

Even with the Terra incident and the market crash, the number of unique active wallets has only dropped by 7%. This bodes well for the metaverse and GameFi, and it could experience a huge boost in the coming months.

Otherdeed Cross $1 Billion in All-Time Sales

NFT Collection Rankings by Sales Volume (All-time): DappRadar

The Otherdeeds NFT collection has been out of the news for a little while, but it reached a huge milestone on August 1. The collection became the quickest to surpass $1 billion in all-time sales volume.

Otherdeed had been experiencing a decline in sales volume since May 2022, recording $30 million in total sales in July. Still, it has managed to make the milestone, and this is despite a general loss in interest in the NFT space.

Honduras Now Has a Bitcoin Valley

Honduras already has a special economic zone in which bitcoin is legal tender, but the country has taken another step forward. Citizens and tourists of Santa Lucia, 20 minutes from the capital, will be able to pay for goods and services in crypto in about 60 local businesses.

The country is launching the initiative to boost tourism, which has been known to be positively affected by crypto-friendly rules. The country also plans to expand the payment features to nearby areas, and this experiment could have a positive long-term impact on crypto regulation in the country.

Attackers Attempting More Phishing Campaigns on MetaMask Users

Halborn, a blockchain security company, has published a post warning users of popular wallet provider, MetaMask, that they may experience a phishing attack. Luis Lubeck, a specialist at the firm, said that scam emails were targeting MetaMask users.

The giveaways in the email were obvious — spelling errors and fake domains — but these attacks still nab unwary users. MetaMask users have been subject to phishing attacks before, and phishing, in general, has become a popular means of exploitation.

Tiffany and Co. Selling $50K CryptoPunks Necklace Collection

CryptoPunks has made a bit of a splash in the world of luxury jewels, with Tiffany and Co. selling a limited edition collection of CryptoPunk-themed necklaces for $50,000 each. The necklaces have 30 diamonds and gemstones.

https://twitter.com/TiffanyAndCo/status/1553811244536270852

The necklaces will go on sale from August 5 — but can only be purchased from CryptoPunks holders. The NFTs will be redeemable for the physical necklaces. In any case, this is another major marketing moment for CryptoPunks, and a real opportunity for holders to further flaunt their enthusiasm for NFTs.

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