NFTs
Out of context: Reply #651
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- neverscared0
Unreal demand? Irregular sales worth billions fire up wild NFT market
LONDON, Feb 7 (Reuters) - On Jan. 12, an image of a computer-generated pixelated person was sold for about $50.6 million worth of cryptocurrency on a new online marketplace that caters for non-fungible tokens.
It gets stranger.
Five minutes later, the same "Meebit" NFT - a virtual character clad in purple shorts and green sneakers - was sold back from the buyer to the original seller for around $49.6 million.
Confused? Welcome to the weird and wild world of NFTs, a new breed of crypto assets that represent digital items, from images and videos to clothing for avatars. They have exploded in popularity over the past year as part of a fledgling and largely unregulated economy for the much-hyped metaverse.
- "the trading activity provides a window into the nebulous and speculative nature of the NFT industry, which attracted $25 billion worth of sales volume in 2021.********
- ^so if the market is $25B and half the market is washtrades on ONE marketplace...********
- "the trading activity provides a window into the nebulous and speculative nature of the NFT industry, which attracted $25 billion worth of sales volume in 2021.