ARTICLE FOR REFERENCE: https://arstechnica.com/gaming/2022/07/analysis-gamestops-nft-marketplace-earns-the-company-just-45k-in-first-day/
From this article, I would argue that $45,000 transaction fees out of about $1.98 million in volume in the first day of launching the NFT market place is reason to believe that the NFT space has potentially entered normalization.
The NFTs Gamestop sells do not appear to be geared towards speculation like we've seen at the top of the NFT hype and they are currently being bought by people who want them as part of a gaming or collectible experience.
For GIF/art type NFTs, I would argue this is what that market should look like, meaning, some type of "affordable" price for a respective NFT for people who want them to enhance an experience, not to speculate on future price.
On top of that, this is occurring at arguably the lowest point in the NFT hype phase and the future seems bright after all.
Thoughts or counter arguments to what we're seeing?
EDIT:
u/Psukhe Made a great comparison with this comment:
"OpenSea did $1.1M in volume in the last 24 hours, and 2.5% of that as fees, which is 27.5k, over the last week OpenSea had 87M in volume, or 218k in fees. So it seems decent if they can keep the volume up?
*Edit: actually it was $11.1M in the 24 hours, so 275k in fees, and 2.18M in fees for the week. Thanks to a post below Seems that there is a bit of catching up to do "
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments