Why is NFT news interesting?
NFT news is currently popular and happening. The year 2021 marked the definitive advance of NFTs within the industry. In 2021, the annual trading volume of this particular form of token reached a total of $40 billion. At the beginning of May 2022, the trading volume for 2022 was already at 37 billion dollars. So it looks like we’re going to flip the record year of 2021 off the books this year. NFTs have become a multi-billion dollar industry, making the latest NFT news a hot topic for Newsbit editors.
The latest NFT news
The NFT market is special. This is mainly due to the unpredictable way the market grows. There are many times when it seems like the market is in a complete meltdown, only to get a boost again with the launch of a new project. Therefore, it is important to follow the latest NFT news to stay informed of all the important events. For example, from the summer of 2021, the activity in the NFT market remained relatively low, until the new Mutant Ape Yacht Club collection was suddenly launched at the end of August. That caused a huge explosion in trading volume and brought back the hype. So it seems like it’s especially important to keep an eye out for specific projects that have a lot of potential value.
After the release of the Mutant Ape Yacht Club, the NFT news was once again silent. Until the LooksRare NFT market was launched. This gave the market a huge boost from January to early February 2022. In that sense, NFT news differs from, for example, Bitcoin news, which tends to deal with the same topics and where there is more regularity. Ultimately, the NFT market is mostly about art and it is difficult to predict when a good artist will introduce a new collection and to what extent that collection will be successful. In a way, that’s what makes NFTs fun. You can use it to collect art from an artist you’re a fan of just to own it, or buy NFTs in hopes that the collection they’re a part of turns out to be a big hit. Our editors do their best to have the latest NFT news and possibly new interesting collections on the news platform as soon as possible.
NFT in a Nutshell
The abbreviation NFT stands for non-fungible token. Non-Fungible in English means non-exchangeable. It is therefore a unique token, a token of which there is only one. So it can be a token that represents a work of art or a specific part of a work of art. In the latter case, with an NFT you can own a work of art with, say, 1,000 other people. NFTs can also represent objects in a virtual world or the Metaverse. For example, a house in the Metaverse, shoes for your character, a car, you can’t think of that crazy thing or it’s possible. There are also more and more companies linking real-world products to an NFT. In theory, it’s even possible to trap your home in an NFT and sell it that way. NFT-related developments happen in quick succession, so it’s important to stay informed of the latest NFT news.
At Newsbit, we want to discuss the market in the broadest sense with the news platform and that includes NFTs and the latest news about them right now. It cannot be that a market with a trading volume of more than 40,000 million dollars a year has no future. If the growth continues as in the last two years, we can expect a lot from NFTs.
Future expectations for NFTs
Most people are interested in NFT news to get an idea of the future of this exciting industry. What are potentially interesting projects to invest in or just discover great new artists? NFTs have somehow revived the art world and that’s really cool. Artists who were previously unable to make ends meet now have the opportunity to reach a whole new audience in a whole new way.
Do you want to know where the NFT industry is moving and stay informed of the latest NFT news? Then you have come to the right place at Newsbit.
Significant growth in the number of NFT users
With the growth of interest in NFTs, the volume of NFT news is also increasing. If the figures from Chainalysis are to be believed, there is still considerable growth in the NFT market. The number of active users has been on the rise since the third quarter of 2021 and that elevator has not stopped yet. The first quarter of 2022 marks by far the largest number of unique users who bought or sold NFTs to date. In the second quarter, on May 1, 2022, we were already at almost 500,000 active users in the market.
Therefore, it seems that the second quarter of 2022 will be the busiest quarter in the history of the NFT market. More and more people know how to find the market and that ensures that more and more NFT news is in circulation. Simply because the market is growing and the interest from all over the world is increasing for this special form of tokens.
The number of active NFT collections on the world’s largest marketplace, OpenSea, is also steadily increasing. There are now over 4,000 active collections. That is, collections whose NFTs are currently still actively traded. The more collections there are, the more people will actively talk about them and the greater the interest in NFTs. Therefore, we have to wait for the next burst of NFT collections and do our best to get the news online as soon as possible. As long as NFTs are a thing, our editors will be keeping an eye on this wildly interesting market to bring all of our visitors the latest news.