Unreal demand? Irregular sales worth billions fire up wild NFT market

LONDON : On Jan. 12, an image of a computer-generated pixelated person was sold for about $50.6 million worth of cryptocurrency on a new online marketplace that caters for non-fungible tokens.Five minutes later, the same"Meebit" NFT - a virtual character clad in purple shorts and green sneakers - was sold back from the buyer to the original seller for around $49.6 million.

Since Jan. 11, for example, another Meebit NFT - this one with a sporty outfit and ponytail - has been passed between three wallets in over 100 sales, mostly in the $3-15 million range. In the week of Jan. 12-19, a"Loot" bag NFT, representing virtual equipment for online adventure games, was exchanged across 75 sales between two other wallets, for $30,000-$800,000 a time.

DappRadar and CryptoSlam, another data provider that reported artificially inflated volumes on LooksRare, said such trades could be linked to the platform's reward structure - though Masoit added there was also"real" activity on the site. Traders don't know until the day's close whether they have transacted enough to win LOOKS tokens, or how many, because they don't know what others have traded.

Several big companies, from Coca-Cola to Gucci, are testing the temperature with their own NFTs. In the art world, meanwhile, just over $1 in every $20 of revenue at top auction houses last year came from NFTs. For the platform's supporters, this may be a sound strategy to thrive in a virtual gold rush, as tech giants like Meta and Microsoft spend billions of dollars to further their owns visions of the metaverse and pave the way for future profits.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Ahead of election, South Korea's long-frenzied housing market shows signs of coolingSEOUL: Seoul\u0027s housing market, one of the most unaffordable in the world, has begun to show signs that its red-hot five-year boom could be running out of steam - just in time for the March presidential vote. Housing is one of the biggest issues in the neck-and-neck election, with prices in the capital havi
منبع: ChannelNewsAsia - 🏆 6. / 66 ادامه مطلب »

China's market liquidity will remain reasonably ample - Shanghai Sec NewsSHANGHAI : China's market liquidity will remain reasonably ample even as seasonal flows of money injected ahead of the Lunar New Year holiday are recouped, the official Shanghai Securities News said on Monday.A large amount of cash will come back into the banking system, and a relatively big amount of tre
منبع: ChannelNewsAsia - 🏆 6. / 66 ادامه مطلب »

Auction market set to be more active in 2022: Knight Frank8 Nassim Hill, where a townhouse was sold as a sheriff sale for $9.1 mil last December.SINGAPORE (EDGEPROP) - Auction listings declined by 23.3% q-o-q in 4Q2021 to 115 listings, including repeat listings and excluding properties sold outside of auction.The quarter saw owner sales listings fall by 28% q-o-q in 4Q2021, while mortgagee sales listings fell 9.5% q-o-q.For the whole of 2021, total listings came up to 670, an increase of 35.4% y-o-y. Auction success rates also improved during the year
منبع: YahooSG - 🏆 3. / 71 ادامه مطلب »