Comprehensive interpretation of the NFT market overview
NFT is an emerging niche encryption field, which has become more and more noticeable since 2020. More and more celebrities and high-net-worth collectors have entered the market to participate in the investment in NFT products, and well-known institutions have participated in the deployment of NFT projects. The rapid development of NFT has benefited Due to the popularity of DeFi, it has become one of the future directions that the chain circle has high hopes for after DeFi.
The current market value of NFT is small, but the industry is becoming more and more active. The landing application scenarios are mainly in the fields of game props, encrypted artwork and social tokens. The uniqueness and scarcity of NFT makes it very suitable for marking the ownership of assets in the blockchain, truly realizing the connection between digital assets in the virtual world and real assets.
In the future, the liquidity of NFT will be higher and higher, more physical assets will be linked to the chain, and it will be more financialized. However, there are also problems of insufficient ecological environment and safety supervision. We believe that NFTs are mainly worth investing in: high-quality public chains, issuance and liquidity platforms, and tokens themselves.
The NFT industry is becoming more and more active: starting from CryptoKitties in 2017, the NFT market has existed for more than three years, and almost all NFT projects are active on the Ethereum and WAX chains.
The growth of the total transaction volume is based on the rise of a single NFT asset. The average price of NFT reached a peak of 4334.21USD on February 22, 2021. However, half a year ago, this figure was about 100USD, an increase of forty times. On February 21, the price of NFT assets increased. The historical transaction volume also reached a new peak of 20 million US dollars, about 45 times that of half a year ago.
Well-known institutions participate in deployment, celebrities participate in investment, and popular projects perform well: some projects in the NFT field, such as MEME, NBA Top Shot, Hashmask, etc., bring great economic benefits and perform well, making many participants believe that NFT will become a new explosive sector .
Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.