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Former Bitcoin Core Developer Says NFT Market Is ‘Pleasantly Down to Earth’ Again

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Former Bitcoin core developer jgarzik says the NFT market is pleasantly down to Earth again. Now, higher-quality projects are likely to continue building. _franvela reports

“I call the [NFT] market ‘pleasantly down to Earth,’” Garzik, who is also the founder of Web3 focused entertainment companyWhile still nowhere near the volumes of last year, things have been picking up with NFTs. According to afrom online store for decentralized applications DappRadar, the NFT market had a 137% increase in trading volume during the first quarter of this year. Despite a slight decrease of over 15% during March, the ecosystem reached $4.

Garzik said that a lot of the NFT hype appears to have finally “burned off,” and users now are looking for NFTs that can provide real utility, something that users can engage with and that will attract their attention. “The [NFT] hype comes, it goes, and as that water washes out to sea, what is left are the higher quality projects,” he said.

 

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