NFT market cools off

by: Dynasty GI2022-03-02
The beginning of the year saw a slowing down of NFT trading, with sales of Non-Fungible Tokens dropping around 30% in volume by mid-February. However, the drop in volume doesn’t mean the adoption of NFTs is reducing.
During the same period, US music festival Coachella joined forces with FTX US to release Solana-based NFTs whilst one of the most famous music magazines in the world, Rolling Stone, is working with Coinbase on a collaborative NFT collection. More recently, those who attended American Football’s Superbowl game received commemorative NFT tickets.

Meanwhile, the Japanese e-commerce giant Rakuten announced the launch of its NFT marketplace. It will offer digital collectibles of sports and entertainment, together with minting services so that intellectual property holders can create digital assets out of their IPs.
"Like any investment product, it is normal to expect that the growth of the NFT market may slow down from time to time, but it is clear that NFTs are here to stay, with the potential to grow even more as interest shifts to the metaverse."
Commented the founder and CEO of Dynasty Global, Eduardo Carvalho.

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