What are the latest developments in the head and dark horse NFT trading market?
Blue-chip NFTs have entered a period of adjustment, yet the NFT trading market is very lively.
Written by Ten Articles
What are the opportunities for the NFT circuit? This should be something that NFT players have been painstakingly meditating on in recent months. NFT market giants due to competitive pressure from BlurOpenSeaThe market share is constantly being squeezed,X2Y2、LooksRareThere are few opportunities in the second-tier NFT trading market, and the newly launched NFT market will also face many challenges.
As it turns out, it's very difficult for the NFT market to retain users. Wherever there are rewards and expectations of issuing coins, they will go. In the face of such a fiercely competitive and heated NFT circuit, every company has made every effort to find innovative products and ways to play in order to seize the share of the NFT market.
Opensea launches Opensea Pro, 'community rewards' sparks airdrop speculation
Following the exemption of market fees and royalties, another major move by Opensea was to upgrade the Gem v2 brand to OpenSea Pro. Since Opensea bought Gem, there haven't been many dynamic updates about Gems. This once-popular NFT aggregator OG seems to have gradually leveled off and faded out of the competition in the NFT market. However, this brand upgrade not only revived Gem's past, but also made it a powerful tool for Opensea against Blur.
According to OpenSea Pro's official presentation, Gem's brand upgrade targets the goal of becoming “the most powerful NFT marketplace aggregator,” compiling a list from over 170 large and small NFT marketplaces, includingBlur, LooksRare, X2Y2, OKX and other platforms. Additionally, some of the other new features include:
Discover cross-market data in real time: Supports real-time monitoring, and can update all data on NFT trends, minting, and collection pages within seconds.
Instant sales: Summarize various types of NFT offers from the entire NFT marketplace, enabling users to sell at the best price.
Optimized gas fees: When purchasing NFTs, Pro is significantly cheaper than Blur in terms of gas fees for both.
0% Listing Fee: You can list NFTs on OpenSea for 0% of the fee during the promotion period.
Other new features include watchlists, Live Mints overview, batch transfers, and more.
Furthermore, in terms of user incentives, OpenSea Pro “is tracking users' activity on gems to score points,” which is somewhat related to Blur's point incentives. Although no specific gameplay rules have been announced yet, as an NFT market that has never issued coins, this hint has already made NFT traders excited. Currently, OpenSea Pro and Gem have the highest daily trading volume and number of active addresses.
Magic Eden launches diamond rewards program and tests the waters of the Bitcoin market
SolanasubjectedFTXAfter the impact of the incident, the volume of the Magic Eden market also declined for a while. But that hasn't stopped Magic Eden from continuing to expand. In terms of gameplay and product innovation, Magic Eden probably has a lot of action. For example, in addition to focusing on the Solana ecosystem, it also expanded the platform to the Ethereum network, launched an ETH aggregator, and integratedPolygonInternet; In addition, a discount and reward system has been introduced. Users can receive rewards, discounts and other benefits through activities on the platform, and users have the opportunity to receive 5% -45% transaction discounts, etc. Recently, the focus has also been on Web3 games, and its venture capital division, Magic Eden Ventures, has invested in 11 Web3 game studios. It also gradually launched at least 12 Web3 games on Ethereum, Solana, and Polygon.
Recently, Magic Eden has had two more major moves. One of them is the launchBitcoinEcological NFT marketplace. As the Ordinals Protocol gradually gained everyone's attention, the OTC volume of Bitcoin NFTs that were launched in the early stages surged, making more and more builders excited about this and are seeking opportunities to connect to the Bitcoin NFT ecosystem. Magic Eden has now integrated support for Bitcoin wallets such as Hiro and Xverse, and allows traders to list, buy, and sell Ordinals NFTs. It has also decided to temporarily support Bitcoin ecosystem NFTs without royalties.
In addition, Magic Eden also launched the Bitcoin Launchpad, which may have been influenced by the launch of the Magic Eden BTC Launchpad. Dune data shows that on April 7, there was a significant increase of 36,898 NFTs with the Ordinals inscription, which is over 10,000 more than the previous day. Magic Eden also announced that it will launch more than 10 Bitcoin NFT projects based on the Ordinals protocol in April.
Magic Eden's second big move was to launch the Diamond Rewards Program. This Diamond Rewards (Diamond Rewards) program allows users to earn diamonds based on different tasks. According to the official website, diamonds are a type of reward currency, and the number of rewards will remain the same every month. There are three ways to get diamonds: listing and successfully selling NFTs on Magic Eden; bidding for NFTs on Magic Eden and getting accepted; and improving your profile. Additionally, 100% loyalty points receive a 2x multiplier.
Magic Eden's diamond rewards program works in the same way as Blur's points. Magic Eden is also one of the NFT marketplaces that have yet to issue coins. Recent uninterrupted new actions have also made the community analyze that Magic Eden has a strong incentive to issue coins, and diamond rewards may also become one of the reference standards for Magic Eden's airdrop when issuing coins in the future.
Currently, Magic Eden's total transactions have surpassed $2 billion.
LooksRare launches V2 version with almost zero processing fees
As the reward system continues to decline, LooksRare's market share is also gradually declining, but it is still a strong competitor to Opensea and is continuously improving its platform features. LooksRare's features include additional features such as batch listing and purchasing, as well as the platform's low transaction fees, which are more friendly to real trading and transferring users. The V2 version is now live, and updates have also been made in these two areas. LooksRare's platform fee has been reduced to 0.5%, gas fees are 50% cheaper than Blur, and it has also launched a feature to sign batch pending orders. Users can also buy more than 70 NFTs at once, and sellers can get ETH instead of WETH.
Surviving the bear market was no easy feat. When “Blur-led credit rewards” became the main driver trend in the NFT trading market, LooksRare did not blindly follow suit, but instead was determined to enhance the NFT trading experience with lower fees.
Not only do new moves continue to be made in these established NFT marketplaces, but the newly launched NFT market has also attracted the attention of NFT players with early stages, innovative gameplay, and airdrop expectations.
Mint.fun open pass casting led by Open AI CEO
Yesterday, mint.fun's pass casting went viral on Twitter. mint.fun is an NFT mint aggregation platform launched by Web3 wallet tracking app Context. The reason for its popularity was that Context was led by OpenAI CEO Sam Altman last year. With the popularity of ChatGPT, mint.fun has become the next gold mine for jerks to bet on.
The features currently provided by mint.fun include: one interface minting multiple NFTs; running automatic security checks on each project to mark suspicious projects for careful user interaction; summarizing all project information, including project launch time, percentage of minted, top minters, etc.; project creators can also set mint prices, and many projects are minted for free.
The open pass casting will be used for subsequent interactions to obtain points. As of publication, close to 25,000 addresses have successfully minted this pass and obtained corresponding points. This credit is the same as Blur gameplay; the higher the points, the rarer the chest you get, and the rewards can be traced back in the future.
Manifold launches multi-NFT burning mechanism “Multiburn”
Manifold is an NFT platform that allows creators to deploy contracts themselves. Once creators have deployed their own NFT contracts, Manifold will provide a set of tools to help creators customize the Drop mechanism and install them into your contract with just one click without coding ability. Also, Manifold is completely free to use, with no platform fees or sales rights. The point is that Manifold is invested by a16z.
Recently, Manifold announced the launch of a new NFT burning mechanism “Multiburn”. Users can destroy multiple ERC-721 and ERC-1155 NFTs to create new unique tokens. Multi-token destruction will also provide a new minting fee. Currently, the fee for each minting is 0.00099 ETH, while the cost of burning a single token remains unchanged at 0.00069 ETH.
This update not only reduces the fees required to burn tokens, but also makes it possible to create new ways to play with NFTs.
Although the recent blue-chip NFT narrative and development pattern is entering a period of adjustment, the NFT trading market is bustling. Regardless of whether Opensea can maintain its moat or not, and whether the “Blur mechanisms” will continue to drive the liquidity of the NFT market, competition among experts will definitely enable the NFT trading platform to break through in user experience, product innovation, and reward mechanisms.
