Why is NFT News Interesting?
NFT news is currently hot and happening. The year 2021 marked the final breakthrough for NFTs in the industry. In 2021, the annual trading volume of this particular kind of tokens reached a total of $ 40 billion. At the beginning of May 2022, trading volume for 2022 was already at $ 37 billion. So it looks like we’ll swap the record year 2021 out of the books this year. NFTs have become a multi-billion dollar industry, making the latest NFT news an important topic for Newsbit editors.
The most current NFT news
The market for NFTs is a special market. This is mainly due to the unpredictable way in which the market is growing. There are many times when it seems that the market is in a complete meltdown, only to get a boost again with the launch of a new project. It is therefore important to follow the latest NFT news to stay informed about all important events. For example, activity in the NFT market has been relatively low since the summer of 2021, until the new Mutant Ape Yacht Club collection was suddenly released in late August. It caused a huge bang in trading volume and brought the hype completely back again. So it seems that it is especially important to keep an eye on specific projects that have a lot of potential value.
After the launch of Mutant Ape Yacht Club, there was silence again about the NFT news. Until the LooksRare NFT marketplace was launched. This gave the market a big boost from January to the beginning of February 2022. In that sense, the NFT news is different from, for example, Bitcoin news, which often deals with the same topics and where there is more regularity. Ultimately, the NFT market is mainly about art, and it’s hard to predict when a good artist will come up with a new collection, and to what extent that collection will be a hit. In a way, that’s what makes NFTs fun. You can use it to collect art from an artist you are a fan of, just to own it, or buy NFTs in the hopes that the collection they are a part of turns out to be a big hit. Our editors are doing everything they can to have the latest NFT news and possibly interesting new collections on the news platform as soon as possible.
NFTs in a nutshell
The abbreviation NFT stands for Non-Fungible Token. Non-fungible in English does not mean interchangeable. It is therefore a unique sign, a sign of which there is only one. So this can be a symbol 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 together with, for example, 1,000 others. NFTs can also represent objects in a virtual world or Metaverse. For example, a house in Metaverset, shoes for your character, a car you can not think of it as crazy, or it is possible. There are also more and more companies connecting real world products to an NFT. In theory, it’s even possible to capture your house in an NFT and sell it that way. Developments around NFTs follow one another rapidly, which is why it is important to stay informed about 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 at the moment. It cannot be that a market with a trading volume of more than $ 40 billion a year has no future. If growth continues as in the last two years, we can expect a lot from NFTs.
Future expectations for NFTs
Most people are interested in the NFT news to draw a picture for themselves about the future of this interesting industry. What are potentially interesting projects to invest in or just discover new cool artists. NFTs have, in a way, revived the art world, and that’s really cool. Artists who previously could not cope now have a chance to reach a whole new audience in a whole new way.
Want to know where the NFT industry is moving and stay up to date on 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 in interest in NFTs, the volume of NFT news is also increasing. If we are to believe the figures from Chainalysis, there is still significant growth in the NFT market. The number of active users has been increasing since the third quarter of 2021, and that elevator has not yet stopped. The first quarter of 2022 marks by far the highest number of unique users who have bought or sold NFTs to date. In the second quarter, May 1, 2022, we were already at almost 500,000 active users in the market.
It therefore looks like the second quarter of 2022 will be the most active quarter in the history of the NFT market. More and more people know how to find the market, and it 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 particular kind of tokens.
The number of active NFT collections in the largest market in the world, OpenSea, is also steadily increasing. There are now more than 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. We therefore have to wait for the next bang for NFT collections and we are doing everything we can to have the news online as soon as possible. As long as NFTs are a thing, our editors will be on top of this wildly interesting market to provide all our visitors with the latest news.