Solana NFTs hit $5B in sales, Greg Solano takes reins at Yuga Labs: Nifty Newsletter

In this week’s newsletter, read about Solana-based nonfungible tokens (NFTs) recovering sales volume after a four-month slump, find out about Yuga Labs’ new CEO, and check out how crypto investigator ZachXBT recovered stolen NFT proceeds. In other news, find a new metaverse is partnering with stablecoin-issuer Circle to add in-game wallets, and don’t forget our Nifty News roundup, featuring South Korea’s plans to consult United States Securities and Exchange Commission (SEC) Chair Gary Gensler on NFTs. 

Solana NFTs hit $5 billion in all-time sales volume

NFTs based on Solana have reached a new all-time sales volume milestone. On Feb. 23, NFT data tracker CryptoSlam showed that the all-time sales volume for Solana NFTs already exceeded $5 billion. In addition, the total number of NFT transactions on the blockchain has also reached around 43 million.

After a four-month slump, Solana NFTs picked up in October 2023, with a 192% jump in sales volume from $28 million to $82 million. The momentum continued through December 2023, when the chain recorded its second-highest monthly sales volume of $365 million.

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BAYC co-creator Greg Solano takes up reins as Yuga Labs CEO

Greg Solano, one of the creators behind the popular Bored Ape Yacht Club collection, has become the new CEO of Yuga Labs. Solano, who also co-founded the company, will replace Daniel Alegre, who has been CEO since April 2023.

In an X post, Solano said he is “stepping back in” as the NFT company’s CEO, saying he’s ready to take the reins and bring the firm to a new chapter.

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ZachXBT recovers majority of $177,000 stolen NFT proceeds after nine-month probe

On-chain sleuth ZachXBT has recovered most of the funds from the sale of a stolen DeGods NFT, which was taken from its original owner through a phishing scam in May 2023. The crypto investigator shared the results of a nine-month investigation into the theft, revealing on Feb. 24 that most of the funds were returned to the owner.

The hackers sold the NFT for 99…

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