Classic NFT Trading is Dead

The world of NFT trading has been evolving at a rapid pace, with classic NFT trading becoming a thing of the past. The rise of a new era of NFT trading has emerged, and it's important for traders and collectors to stay informed on the latest trends and developments. In this article, we'll explore the current state of NFT trading and how you can adapt to the changing landscape to stay ahead of the competition.

The Death of Classic NFT Trading

Classic NFT trading, which involved the buying and selling of profile picture NFTs on various marketplaces, has been losing its appeal over time. While it was once a lucrative business, it has become increasingly difficult to turn a profit in this area. This is due to several reasons, including market saturation, high transaction fees, and the influx of inexperienced traders flooding the market.

In addition, classic NFTs lack the uniqueness and interactivity that the new era of NFTs provides. Collectors and traders are now looking for NFTs that offer more than just a static image or animation. They want NFTs that provide value beyond their initial purchase prices, such as access to exclusive events or experiences.

NFT trading now was overly concentrated

NFT trading is overly concentrated in the hands of cryptocurrency whales. 20% of Blur's total transaction volume is concentrated in 15 wallet addresses, and 50% of total transaction volume is concentrated in 300 wallet addresses. Recent reports indicate that the top 1% of NFT holders account for over 50% of the market's total value. This high concentration of NFTs in the hands of a few individuals poses a significant risk to the market's stability.

One major concern with this concentration is the potential for market manipulation. With a few individuals controlling such a large portion of the market, they have the power to influence prices and manipulate the market in their favor. This manipulation can lead to a decrease in investor confidence and ultimately result in a market crash.

Metaverse: Not Yet Mature

Metaverse is not yet mature. Not yet more active in a single game universe. While the idea of a Metaverse is exciting and holds great potential, it is still not yet mature. The development of the Metaverse requires a collaborative effort from developers, policymakers, and the wider community to ensure that it is safe, inclusive, and accessible to all.

One of the biggest commercial barriers to the metaverse is the ownership of intellectual property. This is particularly relevant in the context of user-generated content, where users can create and share their own content within the metaverse. However, as more and more companies enter the market, they are looking to protect their intellectual property rights, leading to a proliferation of copyright laws and licensing agreements. This creates a significant barrier for smaller companies and individual creators, who may not have the resources to navigate the complex legal landscape.

The Rise of a New Era of NFT Trading

Say goodbye to boring, static images and hello to interactive and engaging NFTs. These new NFTs offer more than just a pretty picture, they provide access to exclusive events, merchandise, and even virtual reality experiences. You won't just be collecting art, you'll be immersing yourself in a whole new world.

The popularity of these new NFTs is on the rise, with many collectors and traders shifting their attention away from classic NFTs. This trend is expected to continue, and it's important for traders and collectors to adapt to the changing landscape to stay relevant in the industry.

How to Adapt to the New Era of NFT Trading

To adapt to the new era of NFT trading, traders and collectors need to stay informed on the latest trends and developments. They should research the market thoroughly and focus on NFTs that offer unique and interactive features. They should also look for NFTs that have strong community backing, as this can increase the value of the NFT over time. Intuitive NFT applications are the trend, such as games, virtual and physical integration, and digital art online and offline exhibitions.

In addition, traders and collectors should be cautious when investing in NFTs. They should avoid investing in NFTs solely based on their initial purchase price, as this can lead to losses in the long run. Instead, they should focus on NFTs that offer long-term value and potential for growth.

Conclusion

Classic NFT trading may be dead, but the new era of NFT trading is just beginning. To stay ahead of the competition, traders and collectors need to adapt to the changing landscape and focus on NFTs that offer unique and interactive features. They should also be cautious when investing in NFTs, and focus on long-term value rather than short-term gains.

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References

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[2] https://decrypt.co/120382/more-polygon-nfts-sold-opensea-ethereum-second-straight-month