What is the future of the market for non-fungi (NFTs)? – Money Times

Despite the decline, the expert says he is confident with market maturity. (Photo: Freepik / starline)

Together with crypto asset marketand the traditional one, the non-fungal signals (NFTs) has been showing a decline in trade volume and market value.

According to data from the NFTGo website, the number of users on benefits for this market still exceeds that of lost users, being 417,231 versus 355,176.

However, market capitalization has dropped by 25% in thirty days, now standing at $ 27.04 billion. During this period, sales volume also fell by 30% to $ 4.77 billion.

Market capitalization data for NFTs (Photo: NFTGo)

The OpenSea platform still represents the largest segment of the business in this market. Followed by X2Y2 and LooksRare.

The NFT-500 report shows that changes in the NFT market since the beginning of 2022, in dollars, are 45% negative.

The NFT-500 is one of the market indices, created by Nansen, which tracks NFTs market activity released on the Ethereum blockchain.

The syllabus index is composed of 500 NFTs, compared to market capitalization, and represents an average of 85.14% of the daily market volume as of 1 January 2022.

According to the Nansen website, score scores are calculated daily and re-balanced every 30 days, during which index components are re-evaluated and adjusted accordingly.

Index of NFT-500 since early 2022. (Image: Nansen)

Bruno Milanello, a new trading executive at Mercado Bitcoin, says that although prices are low NFT they are not tied to the prices of others crypto assetsa general decline in alternative and more risky investments such as secret moneyalso have an impact on other classes.

However, for him, popular collections or, using word from traditional coins, blue treats and those with high exposure, end up suffering a little.

“That change will come with the strengthening of economic sentiment in general. Not just from the crypto world, but transparency resulting from interest, inflation, war, catastrophe, elections and so on. You crypto assets they are no longer separated from the world ”, he explains.

NFTs: end of “hype” or technological maturity?

The executive comments that NFTs connect with people in a more personal way than financially.

For this reason alone, we can already assume that NFTs “talk more” with investors than other types of crypto assets. Yes, NFT is also crypto assets.

To him, although NFT may be more than just art, it is all facilitated by the explosion of digital sign language.

For this reason, the expert says that this market is here to stay:

“Consumption is different. For mobility or at least part of our lives in a digital environment, the same problems of the real world will be in the online world, such as ownership. In these cases, NFTs is perfect, as it is a single, immutable record of an object within a distributed digital ledger, the blockchain”, He explains.

In the real world, Milanello explains that there are also several situations that NFTs “complete”: tickets, medical records, registration clubs, real estate registrations, among others.

“It’s a lie to think it all out NFT cost the same price as Ape Bored. There are NFTs for less than one dollar. “

He also points out that many cases of exploitation are still theoretical. In your opinion, it will be possible to observe many developments in this section and NFTs it will be a part of people’s daily lives.

“Not all NFT must be priced or have a price difference. They can only be valuable assets, ”he comments.

You NFTs is a very simple type of product and can be used for different cases and different reasons, depending on the executive.

“You NFTs of the Impact we have within MB is an example of this: up to 96% of the money raised from unique and exclusive works went to a social project.

According to Milanello, this shows that NFTs they can also be used for the economic and social development of a region or even a country.

“I believe that this kind of use of NFTs (for social reasons or public and private funding) could soon be the next big wave, as well as a collection of games.”

Not every monkey needs its own branch… or its jpeg

New Business Executive Bitcoin MarketThe view that it is important to emphasize that “not all drugs are for the disease”.

“What you see most there are projects that are not needed NFT and they just name it and make it because it is something that is in style. What I think is missing is information and product knowledge. You just have to be more discriminating with the help you render toward other people. ”

Milanello goes on to explain that although it is very simple from a technological point of view to “mintar” (from the English verb to mint, which in Portuguese means to coin, to form), to have a project in NFT that it is consistent and that it brings importance to the business is not a core business, not to mention a simple task.

He says he believes there is still a lot of flexibility in terms of user experience. Concepts and steps are still very difficult for everyday use.

“It is still important to resolve the issue of blockchains integration and the possibility of conducting transactions with any assets you have in your hands”, he says.

“I would like to compare NFTs and credit cards in terms of reform. Cards changed the consumer industry, but not immediately, but over time and with the actions that this brought to consumers “, he concludes.

For her sake, NFTs must go through the same process, but in a very fast way.

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