In this week’s newsletter, read about how nonfungible token (NFT) trading volume neared $1 billion in November, and check out new NFT releases from former United States President Donald Trump, FIFA and heavy metal band Megadeth. In other news, find out why NFT platform Enjin transferred 200 million NFTs from Ethereum to its own blockchain. And don’t forget this week’s Nifty News featuring Funko and Disney’s NFTs. 

NFT trading volume nears $1 billion as markets turn bullish: Report

NFTs might be making a comeback as their trading volume almost reached $1 billion in November. According to data tracking site DappRadar, NFT trading volume shifted last month, surging by 125%. This shows that there’s been a shift in user behavior around NFTs. 

In addition, last month also showed a 114% increase in the average value of NFT transactions. The metric showed the average value of NFT transactions went up from $126 to $270.

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Former U.S. President Donald Trump launches “MugShot”-themed NFT drop

Former U.S. President Donald Trump is launching another NFT drop called MugShot. The collection will have a theme focusing on the former president’s ongoing criminal indictments. 

Users who want to acquire the NFTs can use their credit cards or Wrapped Ether (wETH). However, even if collectors purchase using crypto, they are required to provide their Know Your Customer information. 

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Thrash-metal band Megadeth launches NFT collection and metaverse community

American thrash-metal band Megadeth recently announced that it is releasing an NFT collection that would give fans exclusive access to various experiences with the legendary band, both physical and in the metaverse. 

The band announced the drop on X (formerly Twitter) and said it would feature its digital mascot, Vic Rattlehead. Megadeth also revealed that the collection will have 5,000 pieces. 

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FIFA launches NFT collection amid 2023 Club World Cup

The governing body of international football tournaments, Fédération Internationale de Football Association (FIFA), will launch an NFT collection ahead of the 2023 Club World Cup in the Kingdom of Saudi Arabia. 

According to FIFA, the collection will feature 100 NFTs, allowing holders to secure their FIFA World Cup 2026 final tickets. In December, 900 other digital collectibles will be issued on the Polygon blockchain and OpenSea. 

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Enjin migrates over 200 million NFTs from Ethereum to its blockchain

Enjin has migrated 200 million NFTs from Ethereum to its mainnet, the Enjin Blockchain. The platform sent over 118 million NFTs in Ethereum and 101 NFTs hosted in an Ethereum sidechain to the Enjin Blockchain. 

Avoiding large amounts of gas fees on Ethereum, the platform took a snapshot and allowed its users to claim their NFTs within their wallets instead of requiring them to burn the ETH-based NFTs. 

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Nifty News: Funko’s Disney NFTs, Sotheby’s auction Bitcoin Ordinals project, and more

Toy manufacturer Funko collaborated with Disney to release NFTs that turn its popular Funko Pop! figurines into digital tokens within the WAX blockchain. Meanwhile, Solana and Bitcoin have been making strides in terms of sales volume, bringing competition to the industry dominated solely by the Ethereum network. 

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CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

Former 45th U.S. President Donald Trump is launching a third nonfungible tokens (NFT) drop center around the theme of his ongoing criminal indictments.

According to the December 12 announcement, dubbed “MugShot,” the trading cards are purchasable via either credit card or Wrapped Ether (wETH) and are not transferrable until December 31, 2024. Users will need to provide know-your-customer (KYC) information to purchase the NFTs, even if they choose to pay with crypto. In explaining the rationale behind the collection, developers wrote:

“On Thursday, August 24, 2023, President Trump was formally arrested in Fulton County, Georgia. This is a moment in history – it’s the first-ever mugshot of a United States President. In the photo, Trump has a furrowed brow with a determined gaze which says he’ll never surrender.”

Priced at $99 each, users who purchase 47 or more digital trading cards are eligible to receive “a piece of the president’s ACTUAL suit from his famous mugshot & dinner at Mar-a-Lago with the [former] President.” This is Trump’s third NFT drop following previous successes. Melania Trump, former First Lady of the United States and wife of Donald Trump has also previously launched an NFT collection. 

The Former 45th U.S. President is currently seeking a non-consecutive second presidential term in the 2024 U.S. presidential election. Starting this year, Trump has been indicted by both state and federal authorities on allegations of business fraud and efforts to overturn the 2020 U.S. President Election, totaling 91 felony charges. However, the U.S. Constitution has no clauses automatically disqualifying suspects or convicted criminals from running for federal office. The 14th Amendment to the U.S. Constitution, which bars convicted insurrectionists from holding public office, requires Congressional action to be enforced. 

Watch This Video: Don’t Miss Out! pic.twitter.com/vunSPlEY6Z

— CollectTrumpCards (@CollectTrump) December 12, 2023

Related: Donald Trump NFT prices spike following release of mugshot in Georgia criminal case