{"id":2257,"date":"2022-06-22T19:01:18","date_gmt":"2022-06-22T18:01:18","guid":{"rendered":"https:\/\/toshareproject.it\/artmakerblog\/?p=2257"},"modified":"2022-06-22T19:01:18","modified_gmt":"2022-06-22T18:01:18","slug":"meanwhile-in-the-nft-art-markets","status":"publish","type":"post","link":"https:\/\/toshareproject.it\/artmakerblog\/meanwhile-in-the-nft-art-markets\/","title":{"rendered":"Meanwhile, in the NFT art markets"},"content":{"rendered":"<p>*That was then, this is now.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"qQtrlNAnwo\"><p><a href=\"https:\/\/news.artnet.com\/market\/cryfest-nft-nyc-2022-2133878\">\u2018It\u2019s Probably Gonna Be a Huge Cry Fest\u2019: Plunging Crypto Markets Cast a Shadow Over NFT.NYC and Its Jittery True Believers<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;\u2018It\u2019s Probably Gonna Be a Huge Cry Fest\u2019: Plunging Crypto Markets Cast a Shadow Over NFT.NYC and Its Jittery True Believers&#8221; &#8212; Artnet News\" src=\"https:\/\/news.artnet.com\/market\/cryfest-nft-nyc-2022-2133878\/embed#?secret=xRah8DA1Bk#?secret=qQtrlNAnwo\" data-secret=\"qQtrlNAnwo\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>(&#8230;)<\/p>\n<p>Although OpenSea still holds the position of being the busiest NFT marketplace, its average selling price, the number of traders, and sales volume are all down. On May 20, the platform had a daily trade volume of $43 million; on Tuesday, daily trades were less than half of that\u201417 million.<\/p>\n<p>Coinbase spent $600 million on its new NFT marketplace, which was supposed to inject the ailing crypto exchange with new growth, but it hasn\u2019t taken off as planned. After attracting $75,000 in trading volume when it swung open its doors to the public on May 4, activity has dwindled, with a volume of just $19,000 on June 20, according to Dune. Recently, the firm said it would cut a fifth of its staff amid the market downturn.<\/p>\n<p>So-called \u201cblue-chip\u201d NFT collections are also troubled. Bored Ape Yacht Club, one of the most popular ethereum NFT projects, with more than $2.2 billion worth of trading volume to date, has seen a drop off amid the market upset. The cheapest available Bored Ape NFT is down more than 13 percent over the past 30 days, at a current price of 80 ETH ($91,000), per NFT Floor Price.<\/p>\n<p>ApeCoin, the token of the Bored Ape Yacht Club ecosystem and its future Otherside game, has lost 85 percent of its value. After reaching a high of $27.57 on April 28, right before the Bored Ape Yacht Club launched its Otherside land sale, it\u2019s now trading at a dismal $4.48, according to CoinGecko&#8230;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*That was then, this is now. \u2018It\u2019s Probably Gonna Be a Huge Cry Fest\u2019: Plunging Crypto Markets Cast a Shadow Over NFT.NYC and Its Jittery True Believers &nbsp; &nbsp; (&#8230;) Although OpenSea still holds the position of being the busiest NFT marketplace, its average selling price, the number of traders, and sales volume are all [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2257","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meanwhile, in the NFT art markets | Artmaker Blog<\/title>\n<meta name=\"description\" content=\"Meanwhile, in the NFT art markets | Artmaker Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/toshareproject.it\/artmakerblog\/meanwhile-in-the-nft-art-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meanwhile, in the NFT art markets | Artmaker Blog\" \/>\n<meta property=\"og:description\" content=\"Meanwhile, in the NFT art markets | Artmaker Blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/toshareproject.it\/artmakerblog\/meanwhile-in-the-nft-art-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Artmaker Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-22T18:01:18+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bruce Sterling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/toshareproject.it\/artmakerblog\/#website\",\"url\":\"https:\/\/toshareproject.it\/artmakerblog\/\",\"name\":\"Artmaker Blog\",\"description\":\"on Toshareproject.it - 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