Riding the NFT wave, behemoths like OpenSea experienced astronomic growth, rocketing from $400 million to a dizzying $12 billion trading volume, according to Token Terminal metrics. However, lately, it's been less of a rocket and more of a rollercoaster, plummeting to a $100 million revenue. Sure, it may boast around 18k daily active users, but its competitor Blur, with just 8k users, manages to churn the same volume. How's that for a plot twist?
Then, we've got our enigmas, X2Y2 and Looksrare, with their suspiciously lucrative handfuls of active users. Seriously, only a few hundred daily users and yet, they're pulling in $10 million in yearly fees? There’s something fishy going on there.
On the quieter side of the track, SuperRare and Foundation each quietly generate around $4 million and $1 million, respectively. With only a few dozen to a couple of thousand daily users, they might be the tortoises in this race.
Now, the billion-dollar question (or should we say, $65 billion?): what's up with this turbulence in NFT trading volumes?
Well, remember the celebrity-hyped NFT frenzy? It was like a sugar rush – great while it lasted, but inevitably followed by a crash. Additionally, let's not forget that this is a nascent, volatile market. Add to that the broader crypto market's mood swings, and you've got yourself a wild ride.
But amidst the chaos, remember this: art is the utility. Authenticity. Provenance. These are the lifeblood of the digital art realm, and they're the pulse behind FairMint. This isn't about fast cash – it's about creating, curating, and collecting fine art, all powered by blockchain.
Why does this matter? Because NFTs are democratizing the art market in a way we've never seen before. They're cutting out the middlemen and empowering artists and collectors alike. It's exciting. It's disruptive. It's the future.
Amid all the noise, the role of curators remains pivotal. They're the talent scouts, the trendsetters, and the taste-makers of the digital art world. And in this burgeoning universe of NFTs and metaverses, they have an unparalleled opportunity to shape the landscape.
Enter Ikigai Labs. Backed by an all-star team of a hackathon-winning developer, a visionary cryptopreneur, iconic artists, and Genesis Curator Florence Moll, we’re poised to rewrite the rules of the game.
From digital storytelling to IRL artist residencies, we're driving the democratization of art collection and creation, leveraging tech giants like Reservoir and Thirdweb. We're not just here to ride the wave – we're here to make tsunamis.
And remember, the NFT realm thrives on memes, cultural touchstones that spread virally within the community. It's not just about money and code, but culture, too.
The bottom line? The NFT space is a riotous carnival, and we're in the heart of it all, bringing you the wildest ride of your life. Join the fun in the Ikigai Labs Discord. Let's redefine art and culture, one NFT at a time.
By embracing FairMint and focusing on the actual art, NFTs can serve as a way to authenticate and transfer ownership of digital art in a secure and transparent way. This can help to create a new market for digital art that was previously difficult to monetize. NFTs can help to foster a sense of community and engagement among collectors and creators, which can be particularly valuable in the context of social media platforms like Twitter and Discord. Overall, while the NFT market may experience ups and downs, we believe that the underlying technology and potential for digital art authentication and ownership transfer remains sound.
NFTs represent a major disruption to the traditional art market that has been dominated by a small number of elite players for the past century. NFTs have made it possible for creators to sell their art directly to collectors, without the need for intermediaries such as galleries or auction houses.
This new model provides a more democratic and accessible way for artists to monetize their work and for collectors to invest in art they love. With a market size estimated at $65 billion, the potential for growth and innovation in the NFT space is significant. As technology continues to develop and gain mainstream acceptance, we can expect to see even more exciting and disruptive changes in the art world.
The role of curators remains crucial in discovering the most innovative digital art. They are able to filter out the noise and identify emerging artists, providing them with the platform and exposure they need to establish themselves in the space. With the proliferation of NFT marketplaces and the growth of the metaverse, there is a huge opportunity for curators to play an important role in shaping the digital art landscape and help collectors discover the most promising artists.
With our dream team consisting of a hackathon-winning developer, a product manager with a proven track record, 10 iconic artists, #FM as our Genesis Curator and a visionary cryptopreneur, we have an unfair advantage in this web3 space.
We have the technical support of teams like Reservoir and Thirdweb, the creative vision to curate a unique selection of digital art, and the entrepreneurial drive to disrupt the traditional art market. We are poised to create a new era of art collecting that is more accessible, transparent, and equitable. We are excited to bring our collective passion and expertise to the forefront of the NFT market and look forward to making a significant impact through visual storytelling and IRL artist residencies.
Oh, and one more thing, ... The NFT space is inherently memetic, meaning that it is driven by the creation and spread of ideas, symbols, and cultural phenomena. In this context, memes are not just images with humorous captions, but rather any concept or idea that spreads virally within the community. Creators can tap into the collective imagination of the community, leveraging existing cultural references to create and curate works that resonate deeply with collectors.
BTC = Money
ETH = Money + Code
NFT = Money + Code + Culture
$VIBES = Real Estate + Code + Culture