NFT Comeback? Vitalik’s Patron NFTs Signal Bullish Revival
Vitalik Buterin’s Ethereum address has transferred 32 ETH to Base and minted 400 Patron NFTs. These NFTs are part of the Truemarkets Fair launch, in which over 40% of the TRUE token supply will be distributed to patron holders during the upcoming Token Generation Event (TGE).
Infinex, Synthetix’s decentralized trading platform, previously raised $65.3 million through the sale of Patron NFTs.
Does Vitalik Buterin’s alleged transaction herald a comeback for NFTs?
this trade News from the “vitalik.eth” address has fueled optimism within the community about a potential comeback of NFTs in the current bull market. The broader cryptocurrency market is showing a strong upward trend, which has some hopeful about a resurgence of the NFT craze in 2021.
During that time, NFTs were like Boring Ape Yacht Club (BAYC) Made millions of dollars. The recent price surge suggests renewed interest, Bayak The base price more than doubled in a matter of weeks.
Likewise, the cheapest Cypherpunk The current transaction price is approximately US$112,000, and the total market value of the collection exceeds US$1.6 billion. Prices for rare pieces from these collections continue to rise significantly.
Despite these signs of recovery, NFT market All of 2024 will be a struggle. Data display 98% of NFT collections There was little transaction activity, reflecting market saturation.
Only 0.2% of NFTs that fell were profitable, with most losing more than half their value within a few days, indicating the challenging environment investors face.
At the same time, the base Coinbase’s Ethereum Layer 2 Networkthe transaction volume exceeded 1 billion within a year. However, its commemorative version of NFT has caused controversy Digital artist suspected of plagiarism Artwork by Chris Byron.
In response, Base apologized, pledged NFT proceeds to Biron, and promised to improve its review process.
Additionally, earlier this month, blockchain investigators ZachXBT’s NFT project Thanks to the Zora protocol’s automatically generated ERC-20 functionality, $15 million worth of meme coins were inadvertently created. Although intended as an archival project, it has become the subject of speculative trading.
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