In this week’s newsletter, check out non-fungible token (NFT) gaming project Axie Infinity’s new trailer for its upcoming Web3 game, Atia’s Legacy. In other news, luxury fashion giant LVMH has been sued for NFT patent infringement, and NFT sales have tumbled by 63% since December 2024.
Blockchain gaming project Axie Infinity released a trailer for its new Web3 game Atia’s Legacy. The game is a massively multiplayer online (MMO) video game in the Axie universe. Axie Infinity developer Sky Mavis gave a sneak peek of the game’s next chapter, highlighting that the project continues to provide true asset ownership to its players.
The new development comes as the US Securities and Exchange Commission (SEC) dropped investigations into major NFT projects. In addition, a Trump-owned company registered trademarks for an NFT marketplace.
In a statement, Sky Mavis co-founder Jeffrey Zirlin told Cointelegraph that these are promising updates because they may further unlock the power of tokens.
Smartwatch face design firm Watch Skins sued luxury brand LVMH and accused it of patent infringement. Watch Skins claimed it developed a system that lets users display verified NFTs on smartwatches.
The company alleged that TAG Heuer, an LVMH-owned watch brand, unlawfully used its patented NFT display tech in a smartwatch. The company claimed that TAG Heuer encouraged its users to infringe on the patents by giving instructions for using the NFT display features.
Watch Skins requested a trial and compensation for lost royalties and profit and a court order to prevent LVMH from further using the patented NFT tech.
Despite some positive regulatory developments and interest in the US, NFT trading volume momentum slowed in the first quarter of 2025.
NFT trading volumes have dropped by over 60% since December 2024. In December, total trading volumes for blockchain-based digital collectibles hit $1.36 billion but fell 26% in January, according to DappRadar analyst Sara Gherghelas.
The trend continued through February, with volumes falling 50% month-on-month. Gherghelas attributed the downturn in NFT values to their connection with crypto prices. “While NFTs had been showing signs of a comeback in recent months, their momentum has slowed since the start of the year,” she said.
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.
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