Silicon Valley Bank's crash has greatly affected NFT trading volumes, as traders have left the markets due to the potential consequences of a prominent US bank's situation.

With the hype that leaves other games in the dust, these minigames from a company with a budget of over $4 billion could revolutionize gaming.

The trading volume of NFTs skyrocketed in January as the crypto markets mounted a recovery from a long bear market.

Yuga Labs, the company behind the popular NFT collection BAYC, has announced the launch of their new blockchain game, Dookey Dash.

Yuga Labs is facing a class action lawsuit over misleading endorsements of NFTs by celebrities. The court filing stated that Yuga Labs secretly paid the celebrities to promote Bored Ape NFTs through MoonPay company.

Despite the crypto market drop, BAYC NFTs can still command sizeable prices judging by the latest $1 million sale.

BAYC NFT prices have been down significantly in recent weeks. This price drop has not only affected NFT traders, but also celebrities, like Justin Bieber. Bieber bought an average NFT for $1.3 million, and now it’s worth a tiny fraction of what he paid for.

After the FTX liquidity crunch crypto prices are down, which is affecting the NFT market. “Blue chip” BAYC NFTs are seeing sinking prices as ETH falls and owners potentially panic-sell their assets.