Welcome to today's BlockBeats "Rune + NFT Observation". At the beginning of today, I would like to discuss: Is the era of Ethereum NFT coming to an end?
I believe that you who continue to read the articles in this column are players who love NFT like me. Owning a CryptoPunks is the ultimate dream of many NFT players, including you and me, when they first come into contact with NFT.
And now, the CryptoPunks floor price has fallen below 30 ETH, the first time since August 2021.
Another thing that makes me feel sad is that the full set of gold skins BAYC + 2 MAYC + BAKC, a total of four Yuga Labs NFTs, purchased by Three Arrows Capital for a total of approximately 140 ETH in August 2021 and March 2022 will be auctioned at Sotheby's on June 18.
At the peak of NFT, the price of this asset should have exceeded 1,000 ETH, but now, the floor price of BAYC is less than 12 ETH.
According to cryptoslam.io, the top four networks in terms of real transaction volume over the past 30 days are Bitcoin, Ethereum, Solana, and Polygon.
In the past 30 days, the total transaction volume of Ethereum NFT was less than 160 million US dollars. The total transaction volume of Solana and Polygon, ranked 3rd and 4th, exceeded 148 million US dollars, almost close to Ethereum, which was completely unimaginable in the past.
Although Bitcoin NFT, which ranks first in trading volume, only maintains a slight advantage of more than 10 million US dollars, since March, the monthly real trading volume of Bitcoin NFT has been greater than that of Ethereum.
Although cryptoslam.io also counts the transaction volume of BRC-20 as an inscription on the chain, making the transaction volume of the Bitcoin NFT ecosystem less "pure", in my opinion, Bitcoin NFT players themselves are a group that is inseparable from pictures, runes, and BRC-20. This is why I still think that Bitcoin NFT wins at this stage.
I never think that the golden age of NFT is gone forever. We will see the results of continued construction eventually reflected in market performance, just like this NFT value curve chart by Pizza Ninjas founder @TO. We will come back just like we never left.
But everything will pass, everything will eventually pass, and perhaps the golden age of Ethereum as the absolute center of NFT has come to an end.
Having concluded the discussion, let us continue with the project observation.
NFT New Project Observation
Writ of Passage by The Beacon
The Beacon (@The_Beacon_GG) was once a phenomenal blockchain game on Arbitrum. It became popular at the end of 2022. At that time, we also gave a detailed introduction to the project as soon as possible. Related reading - The Beacon: A "dungeon" game on Arbitrum and TreasureDAO.
A year and a half has passed in the blink of an eye. The Beacon recently updated a new event "The New Frontiers". By completing a series of game and social tasks, you can earn points to open treasure chests, from which you can get future The Beacon, ARB and game props rewards. One of the rewards is the new NFT series "Writ of Passage" whitelist that will be released soon.
Writ of Passage is a bit like the "battle pass" of The Beacon ecosystem. In the future, you can complete tasks to upgrade it to get more The Beacon Token airdrops, enter the second and third phases of "The New Frontiers" activities, and enjoy priority experience of future new versions of The Beacon and even new games.
We don’t know the total supply and minting price yet. What we know is that the series is scheduled to be minted in early July. The way to get the whitelist is to participate in "The New Frontiers". The more points you have, the greater the chance of getting the whitelist. Interested friends should act quickly.
Because
Qio (@QioLabs) is the first blockchain social application developed on Apple Vision Pro. The angle chosen is quite avant-garde, so I included it. The project’s investor lineup includes Folius Ventures, Merit Circle, The Spartan Group, Animoca Brands and Galaxy, which is quite strong.
No further information is known at this time.
The Sports Meta
The Sports Meta (@TheSportsMeta) is an Ordinals PFP series with a total supply of 3,000. The minting price and time are unknown. The project is actually to build a Web3 sports community, based on which to build a gamified social platform "Dot Game" and a fashion brand "DXNK".
Their advisory team includes well-known figures in the NFT and even Crypto circles such as @andr3w and DeGods co-founder & artist @jonnydegods.
Scribbles
Scribbles (@Scribblesby0xVM) is the NFT project of @0xVM_BTC. 0xVM is a "modular Bitcoin execution layer". The partners mentioned so far include Razer, Jump Crypto, Huobi, Zentry, etc.
Judging from some of the art previews that the project has released, I’m not quite sure if this is a PFP series, but from the empowerment point of view, 0xVM’s future token airdrops, pre-sale priority, and ecosystem partner benefits are mentioned, so the series is first classified as a Pass card with a total supply of 888, Free Mint.
Bitcoin Keys
Bitcoin Keys (@keysbitcoin) aims to create an Ordinals staking platform that does not require the transfer of NFT assets. Through the snapshot method, Bitcoin NFT holders can stake their own small pictures.
Initially, the platform will only be open to Bitcoin Keys holders, with a total supply of 1,000 and a minting price to be determined.
Rune Observation
In previous observation columns, we mentioned REX. Meme is definitely the most important part of the rune ecosystem, but in addition to meme, I also hope to see some more interesting gameplay, so in this issue we mention 2 more interesting runes.
But first, we must note that a free rune airdrop will occur in about 13 hours.
FOR•THE•CHILDREN
Earlier this month, rap legend and Wu-Tang Clan member Ghostface Killah swapped out his PFP for Bitcoin Puppets, and apparently, he loves Ordinals so much that he’s pushing the rune FOR•THE•CHILDREN.
The story of this rune ticker dates back to the 40th Grammy Awards in 1998. Wu-Tang Clan missed the Best Hip-Hop Album award that year. When Shawn Colvin took the stage to accept the Best Hip-Hop Album award, the late Wu-Tang Clan member Ol' Dirty Bastard walked onto the stage and talked about the Best Hip-Hop Album award into the microphone, saying that Wu-Tang Clan was the best, and left the classic phrase "Wu-Tang is for the children", creating a historic classic scene at the Grammy Awards and even various music award ceremonies.
If you have the Ordinals item in the head, don't forget to check to see if you can claim the airdrop for that rune in about 13 hours.
NO•ORDINARY•KIND
This is the 120th rune deployed by Seize CTRL (@SeizeCTRL). To borrow Dr. Golden Dog’s introduction, “CTRL positions itself as a native cultural brand of Bitcoin in the post-fiat currency era.” CTRL is definitely an OG in making art on rare Satoshis. For example, the series below is all engraved on Uncommon Satoshis, with a total of 404, and the floor price is now 0.075 Bitcoin.
Last week, Seize CTRL released a new parkour game "Stack Sats". Players have a chance to get a guaranteed reward from the new series "n0k" and an airdrop bonus coefficient for the NO•ORDINARY•KIND rune. It's worth trying.
THE•INFINITE•MONEY•GLITCH
Their @TheInfiniteXYZ meme was so good that it took me some time to confirm whether they were really going to make a Degen game on Bitcoin. In the end, I concluded that they would do it because the official pinned tweet video mentioned "Game Item Mint" at the end.
This is a Pre-Runes, which means there is a pre-mining project with a "mining machine". I will not introduce the specific corresponding project here. Interested viewers can find out for themselves. I will keep an eye on the specific gameplay of their game, and I haven't seen what kind of game it will be yet.
NFT Market Update: Bitcoin and Ethereum Lead NFT Sales in May
NFTs (Non-Fungible Tokens) are sweeping the world, transforming everything from art to music to virtual real estate, but why are NFTs so important? Because they represent a revolutionary way to own and trade unique digital items securely and transparently on the blockchain.
For artists and creators, NFTs provide a new source of income, while collectors and investors view them as a valuable asset class. In short, NFTs are reshaping digital ownership and opening up exciting opportunities across industries.
1. The role of Bitcoin and Ethereum in the NFT revolution
When it comes to NFTs, Bitcoin and Ethereum are at the forefront of this digital revolution. The two blockchain giants have paved the way for the creation, purchase, and sale of NFTs, each offering unique advantages. Ethereum has become the platform of choice for most NFT projects due to its smart contract capabilities.
At the same time, although Bitcoin is primarily viewed as a digital currency, it has also made significant progress in the NFT field, leveraging its powerful network to support NFT transactions. Bitcoin and Ethereum are jointly driving the development of the NFT market, leading innovation and adoption.
Bitcoin and Ethereum dominated the NFT market in May, leading in sales amid a decline in the overall market, with Bitcoin’s NFT sales reaching an impressive $157 million, while Ethereum followed closely behind with $147 million.
These figures highlight the important role these blockchains play in the NFT ecosystem, maintaining strong activity and interest even as the market faces challenges.
1) Bitcoin’s performance: $157 million in sales
Bitcoin’s performance in the NFT market is noteworthy, with sales reaching $157 million in May, demonstrating Bitcoin’s growing influence in the NFT space. The platform’s security and established network make it an attractive option for NFT trading.
Despite a 71% drop in sales from previous months, Bitcoin remains a significant player, demonstrating resilience and adaptability in the ever-changing NFT landscape.
2) Ethereum’s performance: $147 million in sales
Ethereum, the backbone of the NFT boom, saw NFT sales reach $147 million in May. Although slightly less than Bitcoin, this highlights the important role of Ethereum in the NFT market. Ethereum is known for its powerful smart contract capabilities and supports a variety of NFT projects, ranging from digital art to virtual worlds.
However, Ethereum has also seen a significant decline in sales, down more than 56%, but nonetheless, the platform’s versatility and strong developer community have kept it at the heart of the NFT industry.
Launching NFT collectibles when the market is booming is a golden opportunity to take advantage of high interest and investor enthusiasm, and as attention and demand increase, creators have a greater chance of attracting buyers and succeeding in the booming NFT space.
While Bitcoin and Ethereum lead the way, other blockchains are also making their mark in the NFT market, with Solana and Blast being contenders worth watching, each bringing unique advantages to the table.
3) The rise of Solana: joining the big league
Solana is gaining traction in the NFT world due to its high-speed transactions and low fees. In May, Solana established itself among the top blockchains with significant NFT sales. This rise reflects the interest in providing scalable The growing interest in alternative platforms that are both cost-effective and efficient has made Solana a strong competitor in the NFT space.
4) Blast’s unique position: an outstanding representative of Layer2
As the only layer 2 blockchain to make the list, Blast achieved an impressive $36 million in sales. Layer 2 solutions such as Blast are designed to enhance the scalability and efficiency of existing blockchain networks.
Blast’s unique position in the NFT market demonstrates the potential of layer 2 technology to support large-scale NFT transactions, providing a glimpse into the future of more scalable and economically efficient blockchain solutions.
2. Leading NFT collectibles in May
1) Bitcoin’s top NFT collectibles
Bitcoin’s participation in the NFT market is no longer surprising. This giant in the cryptocurrency world is more than just digital gold. It is carving out an important market in the NFT field. Let’s take a closer look at the most significant Bitcoin in May. Coin NFT collectibles.
Node Monkes
Node Monkes is one of the most notable collections on the Bitcoin blockchain. What makes Node Monkes interesting is its unique approach to digital art and community engagement. Each NFT in the collection represents a carefully designed digital monkey with attributes ranging from quirky to very strange.
This uniqueness appeals to a wide audience, making Node Monkes a top performer, and the collectible emphasizes scarcity and exclusivity, ensuring each piece feels like a true collectible, driving demand and increasing value.
Bitcoin Puppets
Bitcoin Puppets have gained popularity for their creative and nostalgic appeal, these NFTs showcase puppet-like characters that evoke a sense of delight and childhood memories, their charm lies in their simplicity and the nostalgic emotions they evoke, reminding many collectors of simpler times.
Each puppet has unique characteristics that make them highly sought after, with collectors valuing their uniqueness and nostalgia, and their growing popularity highlights the power of emotional connections in the NFT market, proving that sometimes, simple concepts resonate most deeply with audiences.
Runestine
Runestine is a relatively new character but is already making a splash, this collection showcases detailed designs and themes inspired by fantasy lore, infused with rich narrative and imagination, despite being new, Runestine’s detailed artwork and the narrative behind each piece has quickly attracted a loyal following.
The collectible’s success illustrates how a well-thought-out theme and high-quality artwork can quickly catapult an NFT collectible to the forefront, making it stand out even in a competitive market.
2) Ethereum’s top NFT collectibles
Ethereum continues to be the platform of choice for most NFT creators due to its strong infrastructure and smart contract capabilities, and in May, several collectibles stood out, demonstrating Ethereum’s dominance in the NFT space.
Bored Ape Yacht Club
Bored Ape Yacht Club (BAYC) is arguably one of the most famous NFT collectibles, known for its unique and interesting digital apes, BAYC has maintained high sales and a strong community.
Each ape in the collection has a unique personality and style, appealing to a range of collectors from casual fans to serious investors, and BAYC’s community activities, including exclusive events and holder benefits, add another layer of value, making it a prime example of how to build and sustain an NFT brand.
Ape Series Yacht Club: Success of Derivatives
Following the success of BAYC, Mutant Ape Yacht Club (MAYC) was launched as a spin-off that put a new twist on the original concept. These NFTs showcase mutant versions of the lovable apes in a variety of quirky and imaginative ways.
Quickly gaining traction with both existing BAYC members and new collectors looking for something different yet familiar, MAYC’s success demonstrates the potential to expand popular NFT brands through creative new variations, keeping the community engaged and the market exciting.
Fat Penguin: A Fan Favorite
The Fat Penguin has become a fan favorite due to its cute and endearing design, these cute and relatable penguins have captured the hearts of many in the NFT community, each penguin has unique characteristics, from quirky outfits to different facial expressions, making them highly collectible items.
The charm of fat penguins is that they have universal appeal - they are easy to like and perfect for collectors who like lightheartedness and visual appeal, and their popularity highlights the importance of accessible and fun designs to achieve widespread success in the NFT market.
3. Sales decline: Analyze the decline
Well, let’s dive into the recent ups and downs of the NFT market. May hasn’t been smooth sailing for giants like Bitcoin and Ethereum. While these blockchains still lead in sales, they have also experienced significant With the decline underway, let's break down what happened and why it matters.
1) Understanding the decline: Bitcoin is down 71%, Ethereum is down 56%
First, let’s look at the data. Bitcoin’s NFT sales fell a staggering 71% in May. Ethereum was not immune, falling 56%. These are undoubtedly big drops, but what caused such a dramatic decline?
There may be several factors at play here; market saturation, changes in investor sentiment, and broader economic uncertainty may have all contributed to the decline, and the overall cryptocurrency market has experienced volatility, which typically affects NFT sales as investors become more cautious.
2) Market reaction: Experts’ views
So, how has the market reacted to these drops? Experts have different opinions, with some believing that this is just a temporary setback, a natural part of market cycles, and others arguing that the NFT market is still in its infancy and growing pains are to be expected.
Others, however, warned that the declines could indicate deeper problems, such as overvaluation or the beginning of a bubble that is about to burst. Analysts closely following the activity of buyers and sellers noted that while sales fell, the number of transactions did not drop as sharply, suggesting that continued interest remains even as high-priced sales slow.
3) Historical context: comparison with previous trends
To truly understand these drops, it’s useful to look at the historical context; over the past year, the NFT market has experienced explosive growth, with peaks and troughs along the way, and previous declines have typically been followed by strong recoveries as the market adapted and evolved.
For example, a similar decline was observed in early 2021, before the market rebounded with greater vigor, a pattern that suggests that while the current declines are noteworthy, they may not signal long-term hardship, but rather they could be a recalibration, a temporary pause before the next wave of innovation and growth.
4. Signs of recovery in June
1) Buyer and seller activity: a positive shift
Despite a significant decline in NFT sales in May, the NFT market showed promising signs of recovery in June. One of the key indicators of this rebound was increased activity among buyers and sellers, as evidenced by rising participation. , even in the face of market volatility, interest in NFTs remains strong.
When we see more people buying and selling NFTs, it’s a sign that the market is healthy, active, and still has potential for growth and investment opportunities.
2) Bitcoin’s market dynamics: Increase in buyers/sellers
For Bitcoin, the number of NFT buyers and sellers grew by more than 20% in June, which is an important development as it shows that confidence in the market has been restored. Although Bitcoin's NFT sales fell by 4% during the same period, the increase in the number of participants suggests that the market is stabilizing.
More buyers and sellers means more liquidity, which is critical to maintaining a vibrant and resilient NFT ecosystem, a dynamic that helps buffer against violent price swings and lays the foundation for future growth.
3) Ethereum’s recovery: Sales pick up
Ethereum is also showing encouraging signs of recovery, with NFT sales on Ethereum growing by more than 4% in June, which may seem modest, but it is a positive turnaround after a sharp drop in May.
Additionally, the number of buyers and sellers of Ethereum NFTs grew by more than 10%, and the dual increase in sales and participant activity indicates that the market is strengthening and the Ethereum ecosystem, known for its wide range of NFT projects, is rebounding, reaffirming its position as the leading platform in the digital asset space.
4) Price Performance: Green Week for Bitcoin and Ethereum
Bitcoin price surges: up 4.2%
Adding a layer of optimism to Bitcoin’s price performance amid the volatility in NFT sales, the cryptocurrency’s price has surged 4.2% over the past week to $71,091 at press time, a growth that strongly suggests that investor sentiment toward Bitcoin remains positive.
When the price of Bitcoin rises, it usually drives the entire cryptocurrency market, including NFTs, and this price surge shows that despite some setbacks, the overall outlook for Bitcoin and its related markets remains bright.
Ethereum growth: +2.2%
Ethereum also had a positive week, with its price increasing by 2.2% to $3,815. This growth reinforced Ethereum’s resilience amid market turmoil. The price increase combined with the increase in NFT sales highlighted Ethereum’s robust ecosystem and its ability to resist risks during market downturns.
Ethereum’s steady growth is critical to the NFT market as it supports a range of projects and innovations that drive the industry forward.
5. Market sentiment: an emotional roller coaster
The NFT world is not just about numbers and transactions, it’s also about people’s feelings and reactions. Market sentiment can determine the success or failure of a trend, and understanding this emotional landscape is crucial for anyone investing in NFTs.
1) Voice of social media: Tracking the conversation
Let’s start with social media. Platforms like Twitter, Reddit, and Discord are abuzz with discussion about NFTs. In May, discussion about Bitcoin and Ethereum NFTs reached an all-time high. This lively discussion plays an important role in shaping market dynamics.
Positive tweets and enthusiastic Reddit posts can drive interest and prices higher, while negative posts can have the opposite effect, and monitoring these conversations can provide real-time insights into where the market may be headed.
2) Positive Sentiment on Ethereum: Community Mood
Sentiment was largely positive for Ethereum, and despite the drop in sales, the Ethereum community remained optimistic, with users excited about upcoming projects, new collectibles, and technological advances.
This positive sentiment is crucial because it keeps the community engaged and attracts new participants. When people feel comfortable with a platform, they are more likely to actively invest and participate in it.
3) Bitcoin’s Mixed Response: Understanding Bearish Sentiment
Bitcoin, on the other hand, had a more mixed sentiment, and despite its price rising 4.2%, sentiment towards its NFTs was less positive, with the community appearing divided and some investors expressing concerns over a sharp drop in sales.
This bearish sentiment may stem from uncertainty about Bitcoin’s long-term role in the NFT space, given that Bitcoin’s primary function is as a digital currency, not a smart contract platform like Ethereum.
4) Investor confidence: the truth revealed by the numbers
Despite the volatile sentiment, the numbers tell a story of resilience, with increased activity among buyers and sellers in June suggesting that investor confidence remains intact and people are still engaging with NFTs, buying, selling and trading.
This steady participation suggests they believe in the long-term value of NFTs, even if short-term market volatility is volatile, a sign that the market is maturing and investors are taking a more cautious approach.
5) Why it matters: Impact on the NFT market?
Understanding market sentiment and investor behavior is not just academic, it has real implications for the future of the NFT market.
Market stability: What do these trends mean for investors?
Recent trends in NFT sales and sentiment suggest the market is stabilizing, and for investors this stability is critical as it means less volatility and more predictable returns.
While NFTs remain a high-risk investment, a stable market provides a better environment for making informed decisions, and investors can observe trends, sentiment, and activity to determine where the market is headed and adjust their strategies accordingly.
Long-term growth: potential impact on future NFT development
The long-term growth of NFTs depends on maintaining and building on current interest and engagement, positive sentiment and increased activity are good signs that the market is still growing, and this growth is not just about higher prices, it’s also about innovation.
New projects, better platforms, and more advanced technologies will continue to drive the NFT space forward, and the foundation being built now will support more complex and diverse NFT applications in the future.
Wider blockchain impact: Beyond NFTs
Finally, trends in the NFT market have broader implications for the entire blockchain ecosystem, and success in NFTs can drive interest and investment in other blockchain applications.
If people see that NFTs can flourish, they’ll be more likely to explore and invest in other blockchain-based technologies, and this cross-fertilization of interests could foster stronger development across the blockchain space, from decentralized finance (DeFi) to supply chain management and more.
6. Tips for Building a Successful NFT Collection
Building a successful NFT collection is no easy task. It requires careful planning, a solid strategy, and an understanding of market dynamics. Whether you are an experienced creator or a novice, the following tips will help you navigate the complex environment of the NFT field and maximize your chances of success.
1) Know your audience: Target the right people
The first priority is to know who you are creating your NFT for. It is crucial to identify your target audience. Are they art lovers, gamers, or cryptocurrency investors? Each group has different expectations and interests.
Conducting market research to understand potential buyers’ preferences and behaviors can guide your creative process and marketing strategy, tailoring your content to your audience’s preferences and increasing the likelihood that your collection will be noticed.
2) Unique Selling Point: Make Your NFT Different
In a market flooded with NFTs, it is crucial to have a unique selling point (USP). What makes your NFT different from others? Is it the art style, practicality, rarity, or the story behind it?
Clearly defining your USP will help you attract buyers and build a loyal fan base, ensuring your NFT offers something that others don’t, and effectively communicating that uniqueness in your marketing materials.
3) Marketing strategy: create buzz before launch
A well-thought-out marketing strategy could mean the difference between success and failure for your NFT launch, start building buzz well before the actual release date, using teasers, snippets, and countdowns to create a sense of anticipation.
Leverage multiple channels such as social media, email newsletters, and online forums to reach a wider audience, with the goal of creating excitement and curiosity so that when your NFT goes live, there is already a community eager to buy it.
4) Leverage social media: Create viral marketing campaigns
Social media is a powerful tool for promoting your NFT collection, and platforms like Twitter, Instagram, and TikTok can help you reach a global audience, share engaging content, showcase your NFTs and tell your story, use hashtags, participate in relevant conversations, and interact with your fans.
Creating a viral marketing campaign can significantly increase your visibility, consider challenges, giveaways, or collaborations that will grab people's attention and encourage them to share your content.
5) Collaborate with influencers: Get the right endorsements
Working with influencers can expand your reach and credibility. Find influencers in the NFT space or related communities that resonate with your target audience. Their endorsement can add legitimacy to your collection and let their fans know about you.
Choose influencers who align with your brand’s values and who truly appreciate your work. Authentic endorsements are more likely to convert their audience into your buyers.
6) Technical preparation: ensuring a smooth release
Technical glitches can derail an otherwise perfect launch, make sure your NFTs are minted correctly, the smart contracts are secure, and that the platform you’re using can handle the traffic, test it multiple times, and have a contingency plan in place.
Such preparation can help avoid any last-minute surprises and provide a smooth experience for your buyers. If you’re not confident in your technical abilities, consider working with an experienced developer to handle the technical aspects.
7) Choosing the right blockchain: Bitcoin vs Ethereum vs other blockchains
Choosing the right blockchain for your NFT is a key decision, Bitcoin and Ethereum are the most popular, but other blockchains such as Solana and Polygon are growing, and each blockchain has its pros and cons in terms of transaction fees, speed, and community support.
Ethereum is known for its strong ecosystem, while Solana offers faster transaction speeds and lower costs. Evaluate your needs and choose the blockchain that best matches your goals and audience preferences.
8) Smart Contract Security: Protect Your Assets
Smart contracts are the backbone of NFTs, ensuring their ownership and transfer, however, if not properly secured, smart contracts are also vulnerable to hacking and exploitation. Work with an experienced developer to write and audit your smart contracts.
Implementing security best practices can protect your assets and your buyers’ investments, but remember that a single security breach can destroy your reputation and result in significant financial losses.
9) Post-launch strategy: Maintaining momentum
The work doesn’t end after your NFT is released, a strong post-launch strategy is essential to maintaining interest and driving ongoing sales, continue to engage with your community through updates, new releases, and events.
Consider offering exclusive content or perks to early buyers to incentivize their continued support. Regular communication and interaction can keep your community active and make them feel invested in the long-term success of your project.
10) Community Engagement: Build a Loyal Following
Building a loyal community around your NFT collection is one of the most valuable assets you can have. Regularly engage with your audience through social media, Discord channels, or virtual meetups.
Listening to their feedback and expressing gratitude for their support, creating a sense of belonging and ownership can transform casual buyers into loyal fans who are committed to promoting your work and helping you grow.
11) Continuous Improvement: Iterate Based on Feedback
Finally, maintaining an attitude of continuous improvement, gathering feedback from your buyers and the wider community to understand what works and what doesn’t, using that feedback to iterate and improve your future collectibles, staying sensitive to audience needs and adapting to market trends can help you stay relevant and successful in the ever-changing NFT space.
7. Summary
To summarize, the NFT market in May showed the continued dominance of Bitcoin and Ethereum, despite a decline in sales.
Bitcoin leads the way with $157 million in sales, followed by Ethereum with $147 million in sales, while other blockchains like Solana and Blast have also made significant progress.
The market showed signs of recovery in June, with increased buyer and seller activity and rising prices for BTC and ETH.
Understanding these trends and utilizing strategic tips for successfully launching NFT collectibles can help creators and investors navigate this dynamic space, ensuring long-term growth and stability in the ever-changing world of NFTs.
#cryptopunks #BAYC #BRC20😘 #NFT $BTC $ETH $ORDI
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