The market for NFTs has gotten smaller. But it hasn't died.
of NFTs exchanged hands in the past 30 days. Perhaps more importantly, the market is changing in a fundamental way.From the beginning of the NFT boom in early 2021, the issue that's held the marketplace back has been liquidity.Lately one marketplace,Blur's entire design is based on the idea that some traders want to buy or sell a bunch of NFTs from a single collection at once, something called "sweeping the floor.
Sweeping would be like snatching up 20 Picasso paintings sight unseen, instead of obsessing over Guernica — before Picasso really became a thing.If more traders are sweeping the floor, that increases the likelihood that cheap NFTs just sell, which makes the value of all NFTs more "real."Blur, which only launched in October, is winning the market for vibes. It now has about 40% of the retail NFT market, coming out of nowhere in October.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Eyes $25K Again While Stacks Soars 50% on Ordinals Hype (Market Watch)The hype around the Bitcoin-based NFTs has pushed Stacks a lot higher recently.
Read more »
Litecoin Network Gets Its First NFTs After Developer Forks Bitcoin OrdinalsA copy of the whitepaper of Litecoin’s mimblewimble upgrade was put on the Litecoin blockchain as the popularity of Bitcoin-based NFTs surges. By shauryamalwa
Read more »
NFTs will act as high-end property during boom cycles: Real Vision CEOThe Real Vision CEO said that as people often rush to buy high-end property during economic booms, the same is likely to happen to certain high-end NFTs when the crypto market surges again.
Read more »
Iluka takes an FID amid record revenueASX-listed Iluka has taken a final investment decision (FID) on the A$480-million Balrandald critical minerals project, in New South Wales. The development is focussed on the rutile- and zircon-rich West Balranald deposit, which also contains material quantities of rare earth minerals.
Read more »