Tag Archives: opensea

Yahoo Finance: Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

Yahoo Finance: Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

The non-fungible token (NFT) project by former U.S. President Donald Trump has helped its host network, Polygon, outsell Ethereum on the leading NFT marketplace OpenSea for the second straight month, according to transaction data.

 

Fast facts

  • According to blockchain data aggregator Dune Analytics, there were 1.3 million Polygon NFTs sold in December and 1.5 million in January, while Ethereum’s numbers for those same months were 995,000 and 1.1 million.
  • “Trump Digital Trading Cards” was Polygon’s top project by sales value, if not in individual sales, on OpenSea in January with 5,517 sales totaling 1,760 Eth (US$9.2 million).
  • Trump’s collection was ridiculed by the right and left alike when it was released in mid-December for both its perceived poor timing in missing the height of the NFT market almost a year before, and for being out of touch with his voter base. The project quickly sold out regardless.
  • Anndy Lian, author of the new book “NFT: From Zero to Hero,” told Forkast in an emailed statement that Polygon’s growth isn’t really about Trump. The main reason for Polygon’s gain is it has a vast support system with gas fees (costs for transacting on the network) that are much lower than on Ethereum.
  • “The actual spike in popularity was with [collaboration with social media platform] Reddit in August 2022,” Lian said. “The collaboration with top brands such as Meta, Starbucks and Nike are also key indicators that they are on the right track and well accepted by mainstream audiences.”
  • Lian added that Polygon is also host to a large percentage of projects with greater utility, such as Sandbox and PlanetIX, which were both top 10 ranked collections across all NFT marketplaces in January.
  • “When there is demand, there is supply,” Lian said. “This is what we see in the case of Polygon.”
  • OpenSea is the largest NFT marketplace in the industry, and had 40% of the total NFT sales volume in January, according to DappRadar.

 

Source: https://finance.yahoo.com/news/donald-trump-helps-polygon-nfts-060422995.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

The non-fungible token (NFT) project by former U.S. President Donald Trump has helped its host network, Polygon, outsell Ethereum on the leading NFT marketplace OpenSea for the second straight month, according to transaction data.

 

Fast facts

  • According to blockchain data aggregator Dune Analytics, there were 1.3 million Polygon NFTs sold in December and 1.5 million in January, while Ethereum’s numbers for those same months were 995,000 and 1.1 million.
  • “Trump Digital Trading Cards” was Polygon’s top project by sales value, if not in individual sales, on OpenSea in January with 5,517 sales totaling 1,760 Eth (US$9.2 million).
  • Trump’s collection was ridiculed by the right and left alike when it was released in mid-December for both its perceived poor timing in missing the height of the NFT market almost a year before, and for being out of touch with his voter base. The project quickly sold out regardless.
  • Anndy Lian, author of the new book “NFT: From Zero to Hero,” told Forkast in an emailed statement that Polygon’s growth isn’t really about Trump. The main reason for Polygon’s gain is it has a vast support system with gas fees (costs for transacting on the network) that are much lower than on Ethereum.
  • “The actual spike in popularity was with [collaboration with social media platform] Reddit in August 2022,” Lian said. “The collaboration with top brands such as Meta, Starbucks and Nike are also key indicators that they are on the right track and well accepted by mainstream audiences.”
  • Lian added that Polygon is also host to a large percentage of projects with greater utility, such as Sandbox and PlanetIX, which were both top 10 ranked collections across all NFT marketplaces in January.
  • “When there is demand, there is supply,” Lian said. “This is what we see in the case of Polygon.”
  • OpenSea is the largest NFT marketplace in the industry, and had 40% of the total NFT sales volume in January, according to DappRadar.

 

Source: https://forkast.news/headlines/donald-trump-polygon-nft-ethereum-opensea/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Upstart NFT marketplace LooksRare challenges OpenSea’s dominance

Upstart NFT marketplace LooksRare challenges OpenSea’s dominance

Upstart non-fungible token (NFT) marketplace LooksRare launched with a bang this week, transacting over US$1 billion in sales after only debuting on Jan. 10. Total sales figures are more than 40% of market leader OpenSea’s entire sales volume for the past week, according to DappRadar.

LooksRare has achieved this sales volume with only a fraction of the users of OpenSea. On Jan. 13, LooksRare’s sales volumes were more than five times higher than its main competitor, yet it did so with less than 3,000 users, compared to OpenSea’s 70,000.

Some have argued the NFT boom was drawing to a close after a peak in August, but sales volumes on LooksRare alone suggest strong demand remains in the market.

While LooksRare’s figures may seem hard to believe, the platform’s controversial incentive structure reveals how this may have been possible. LooksRare launched by airdropping its native LOOKS token to any OpenSea customer who had spent more than 3 ETH in the second half of 2021. This tactic is known as a “vampire attack” — when one platform uses incentives to lure away users from another — and LooksRare is the second major effort of its kind against OpenSea, the first being Infinity in October last year.

LooksRare says its systems ensure that any wash trading would be unprofitable, as daily LOOKS rewards are fixed while each transaction incurs fees, disincentivizing the practice. Though one industry watcher told Forkast the practice is clearly occurring.

“They did expect [wash trading]; it wasn’t ideal sales but they couldn’t prevent it,” said Yohann Calpu, CryptoSlam’s chief blockchain officer, telling Forkast the NFT aggregation company is trying to track authentic sales figures on the platform for a more accurate representation of the platform’s performance.

Calpu also said that while OpenSea maintained more than 90% of the Ethereum NFT market share, LooksRare has shown competitors can challenge this dominance by offering new features.

Despite the region being such a strong driver for the market, no major NFT marketplaces are based in Asia — both OpenSea and LooksRare are based in the U.S. Anndy Lian, Singapore-based founding member of NFT creative studio Influxo, told Forkast this is a product of the global nature of the technology, which proves that as long as the content is quality, it will be able to find a market.

“We are now in the crypto space; everything is international, everything is global,” he said. “As long as there is the right kind of intellectual property, NFT creators who have that following can [list it] anywhere, and they will get their fans in that region to buy it. Now the market is global, truly global.”

Taiwanese superstar Jay Chou showed this to be the case recently with his NFT collection PhantaBear. Chou’s collection topped Bored Ape Yacht Club’s (BAYC) sales volume on OpenSea earlier in the week with more than 18,000 ETH (US$57,630) in sales volume in the past week — 10% more than BAYC’s for the same time, according to CryptoSlam.

“They do not hesitate because they know that by buying there’s a chance to appreciate in value and also the fact that it is a form of status — unlike some friends in the U.S.,” he said, “because the mindset is different.”

 

Original Source: https://forkast.news/upstart-nft-marketplace-looksrare-challenges-opensea/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j