Nifty News: Rarible fixes bug, real home and virtual twin auction, Mega City in The Sandbox

Rarible temporarily cancelled all OpenSea orders while it implemented a tool to help protect users against mistakenly selling their NFTs.

NFT marketplace Rarible temporarily canceled orders from OpenSea and sent a series of tweets Thursday outlining how it plans to help combat what it called “risky sale orders” on OpenSea with a new order management tool.

The tool is designed to help users differentiate between their active and inactive orders to help prevent their NFTs from being mistakenly sold even if they cancel an OpenSea order by transferring the asset to another wallet.

Part of Rarible’s business model is aggregating OpenSea orders on its platform.

Since late Dec. 2021, OpenSea users have noticed a bug that allows assets to remain up for sale on Rarible even when their assets have been moved to a different wallet. Rarible explained:

“When you move your item out, the order can’t be fulfilled anymore. But when the item gets back to your wallet, the order is active on-chain again. The secure way to remove a listing is to cancel it on-chain.”

Rarible’s tool displays orders as either Active or Inactive to mitigate the confusion about which assets are actually up for sale. Rarible said in a tweet, “Active orders are on right now and require most of your attention,” while “Inactive orders are the orders that will become active in case the NFT gets back to your wallet.”

Rarible is currently the ninth largest NFT marketplace, according to DappRadar.

Buy LAND near The Sandbox’s new Mega City

The Sandbox (SAND), a metaverse platform and decentralized gaming virtual world has announced it will create a Mega City with a focus on contemporary cultural icons and the expansion of Hong Kong culture into the Metaverse

A slew of new partners who own LAND and are well-known in Hong Kong have signed up, including tycoon Adrian Cheng, investing leader Sun Hung Kai & Co, professional services firm PwC Hong Kong, blockchain-related investment and asset management company TIMES CAPITAL, director, producer and actor Stephen Fung, actress Shu Qi, musician Dough-Boy, game IP Little Fighter and local illustrator Dreamergo.

The Sandbox has scheduled a LAND sale next Thursday to allow users to purchase LAND outside of Mega City hubs.

CEO of major The Sandbox backer Animoca Brands Yat Siu said that:

"The Sandbox and virtual land has really caught people's imagination and attention in this region."

Real-world and virtual-world home auctioned

A collaboration between ONE Sotheby’s International Realty and Voxel Architects will see a real house sold in tandem with a virtual copy in The Sandbox.

The real house in Miami, USA, and will be an 11,000 square foot home with seven bedrooms and nine bathrooms on one acre of land. The houses are still under construction and are expected to be included in a Sothetby’s auction in 2022. The price range has not yet been determined.

CoolWallet Pro to support NFTs

CoolbitX, manufacturer of the crypto wallet CoolWallet Pro, announced at CES 2022 that its crypto wallet has added NFT support.

Integrated support for NFTs will be usable with OpenSea and Rarible NFT marketplaces. The brand hopes to attract new users to the crypto space and introduce them to the metaverse and play-to-earn. CoolBitX founder and CEO Michael Ou said:

“NFT support on the CoolWallet will help to seamlessly blend our users' physical and virtual worlds, empowering them to manage and protect both their crypto assets and digital collectibles with confidence.”

NFT sales top $530 million in 7 days

Data from Nonfungible shows that the NFT market is continuing the wild growth that began in 2021 with the first week of 2022 totaling $530 million in sales and the highest-ever average price per asset at $5,215. Last year, over $23 billion of NFTs were sold, according to a DappRadar report.

The biggest sale over the past seven days was a SuperRare NFT, which sold for nearly 250 ETH ($939,787). Bored Ape Yacht Club had by far the highest volume over the same time period with $216,869.

Other Nifty News

Digital asset curator Metaversal closed a $50 million funding round to help expand its NFT portfolio and investment capabilities in the Metaverse and NFT spaces. The funding round was led by Coinfund and Foxhaven.

Golfing startup LinksDAO raised $10.5 million to fund its desire to buy golf courses and develop the LINKS cryptocurrency. Funds were raised through an NFT sale of over 9,000 “leisure memberships” and “global memberships.”