Source: Cointelegraph Original: "{title}"
In this week's newsletter, you will see a new trailer for the upcoming Web3 game "Atia's Legacy" from the non-fungible token (NFT) game project Axie Infinity. In other news, luxury fashion giant LVMH has been sued for infringing NFT patents, and NFT sales have plummeted by 63% since December 2024.
The blockchain game project Axie Infinity has released a trailer for its new Web3 game Atia's Legacy. The game is a massively multiplayer online (MMO) video game set in the Axie universe. Developer Sky Mavis revealed the next chapter of the game, emphasizing that the project will continue to provide players with true asset ownership.
The U.S. Securities and Exchange Commission (SEC) has withdrawn its investigation into major NFT projects, marking a new development. Additionally, a company affiliated with Trump has registered a trademark for an NFT marketplace.
Sky Mavis co-founder Jeffrey Zirlin told Cointelegraph that these are promising updates, as they may further unleash the power of tokens.
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Smartwatch surface design company Watch Skins has sued luxury brand LVMH, accusing it of patent infringement. Watch Skins claims to have developed a system that allows users to display verified NFTs on smartwatches.
The company alleges that LVMH's watch brand TAG Heuer has illegally used its patented NFT display technology in smartwatches. The company claims that TAG Heuer encourages users to infringe its patent by providing instructions for using the NFT display feature.
Watch Skins is seeking a trial, compensation for royalties and lost profits, and a court order to prevent LVMH from further using the NFT patent technology.
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Despite some positive regulatory dynamics and interest in the U.S., NFT trading volume momentum has slowed in the first quarter of 2025.
Since December 2024, NFT trading volume has decreased by over 60%. According to DappRadar analyst Sara Gherghelas, the total trading volume of blockchain-based digital collectibles reached $1.36 billion in December, but dropped by 26% in January.
This trend continued into February, with trading volume decreasing by 50% month-over-month. Gherghelas attributed the decline in NFT value to its correlation with cryptocurrency prices. "While there have been signs of a resurgence in NFTs in recent months, momentum has slowed since the beginning of this year," she said.
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Thank you for reading this week's summary of the most noteworthy developments in the NFT space. Next Wednesday, we will bring you more reports and insights on this positive development area.
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