Daily trading volume on NFT platform OpenSea dropped ~80% to ~$50M/day from February to March; avg selling price of an NFT has dropped ~48% since November; avg Bored Ape price fell ~44% over the past two weeks
DISCLOSURE: im an investor in OpenSea 😢

The great NFT sell-off: has the digital collectibles craze hit its peak? | Financial Times

Daily trading volume on NFT platform OpenSea dropped ~80% to ~$50M/day from February to March; avg selling price of an NFT has dropped ~48% since November; avg Bored Ape price fell ~44% over the past two weeks DISCLOSURE: im an investor in OpenSea 😢 The great NFT sell-off: has the digital collectibles craze hit its peak? | Financial Times The great NFT sell-off: has the digital collectibles craze hit its peak? Value of digital tokens drops by almost 50 per cent, renewing doubts over hype-fuelled market © FT montage/Charlie Bibby/Dreams https://www.evernote.com/shard/s142/sh/5f256b4a-0e66-4775-83f0-f9b83ea14d52/bc4d755c5ce7a990e23aa1a2a69542ff

Kraken shuts down its #NFTs marketplace as digital tokens miss the crypto rally
Bored with the apes… and their yacht club. Kraken shut down NFT trading on its platform last week and said it planned to shutter its non-fungible-token marketplace in February, after which users will no longer be able to withdraw their NFTs. The crypto exchange rolled out its market for the digital tokens (picture: Bored Apes, CryptoPunks, Meebits) two years ago, nearly a year after NFT-trading volume peaked. Now it’s closing shop as NFTs struggle to hitch a ride on the crypto rally that’s seen the price of bitcoin home in on a record $100K.

https://sherwood.news/snacks/crypto/kraken-shuts-down-its-nft-marketplace-as-digital-tokens-miss-the-crypto/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20241202&utm_content=25e801f90c994b873669173d9bd466ae

NFTs

Kraken shuts down its #NFTs marketplace as digital tokens miss the crypto rally Bored with the apes… and their yacht club. Kraken shut down NFT trading on its platform last week and said it planned to shutter its non-fungible-token marketplace in February, after which users will no longer be able to withdraw their NFTs. The crypto exchange rolled out its market for the digital tokens (picture: Bored Apes, CryptoPunks, Meebits) two years ago, nearly a year after NFT-trading volume peaked. Now it’s closing shop as NFTs struggle to hitch a ride on the crypto rally that’s seen the price of bitcoin home in on a record $100K.  https://sherwood.news/snacks/crypto/kraken-shuts-down-its-nft-marketplace-as-digital-tokens-miss-the-crypto/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20241202&utm_content=25e801f90c994b873669173d9bd466ae

Bored with the apes… and their yacht club. Kraken shut down NFT trading on its platform last week and said it planned to shutter its non-fungible-token...

Kraken shuts down its NFT marketplace as digital tokens miss the crypto rally

Tasia

DANK MEMES

Interesting #NFTs use cases

“I don’t think the audience cares about technology, whether it’s an NFT or virtual reality,” Schoonover added. “They just want a fun and entertaining experience  . . . [and] NFT technology is a unique way to deliver this.”

https://techcrunch.com/2024/03/05/openseas-partnership-with-coachella-is-a-sign-that-nfts-can-be-more-than-profile-pictures/?utm_source=Iterable&utm_medium=email&utm_campaign=newsletter-20240307

Interesting #NFTs use cases  “I don’t think the audience cares about technology, whether it’s an NFT or virtual reality,” Schoonover added. “They just want a fun and entertaining experience  . . . [and] NFT technology is a unique way to deliver this.”  https://techcrunch.com/2024/03/05/openseas-partnership-with-coachella-is-a-sign-that-nfts-can-be-more-than-profile-pictures/?utm_source=Iterable&utm_medium=email&utm_campaign=newsletter-20240307

The NFT sector has not yet returned to the glory of its 2022 heyday, but that hasn’t stopped the evolution of the tech. For instance, OpenSea has

OpenSea's partnership with Coachella is a sign that NFTs can be more than profile pictures | TechCrunch

Jerome Cody

NFT startup OpenSea has tumbled down the order in the global NFT marketplace ranking after being overtaken by new entrants like Blur, OKX NFT Marketplace, and Magic Eden
https://www.bloomberg.com/news/articles/2024-01-14/once-dominant-nft-marketplace-opensea-is-touting-differentiation-after-pull-back

NFT startup OpenSea has tumbled down the order in the global NFT marketplace ranking after being overtaken by new entrants like Blur, OKX NFT Marketplace, and Magic Eden https://www.bloomberg.com/news/articles/2024-01-14/once-dominant-nft-marketplace-opensea-is-touting-differentiation-after-pull-back

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie

Are you a robot?

Todd Smith

Any crypto company from private market that actually performed well in the long term? Better to stick with tokenized assets with liquidity

D J

A group of likeminded people in Crypto are talking about this.