According to NFTGO, an NFT statistics website, the total market value of NFT has shot up to US$16 billion. Its transaction volume has been fluctuating and hitting new highs, even the bottom daily transaction volume was around US$100 million. With the continuous influx of external funds, brands, and the continuous expansion of NFT application scenarios, the NFT market size is bound to grow further.
Almost 90% of the transaction volume comes from OpenSea, a giant in the NFT market, whose daily transaction volume is nearly US$100 million in the past three months.
The competitors have been envying OpenSea for not sharing the cake. From the airdrop of SOS to LooksRare and X2Y2 (which have been on every KOL’s lips recently), the cake battle began.
Among these competitors, SOS seems to be a fish in troubled waters, while LooksRare and X2Y2 have indeed made many dazzling optimizations in their products. However, both LooksRare and X2Y2 skipped the cold start and adopt an aggressive way of using incentives to attract users. It seems this method has done more harm than good to their products, because users pay more attention to those incentives instead of their products.
OpenMeta, a project incubated by the MDEX Foundation, has adopted a different development strategy. It takes advantage of the market sentiment to gain high attention in a short time. A great strategy indeed. However, its success is also inseparable from its solid foundation. Otherwise, the attention will just come and go quickly, and cause a negative impact.
NFT Trading on OpenMeta: Scientific Analysis +Rational Investment
OpenMeta is an NFT marketplace on BSC. Therefore, its users have never been troubled by high transaction fees. It also provides creators and projects with the “0 Gas Mint” function, which further reduces the cost of NFT transactions. On OpenMeta, the creator’s work will only be minted into NFT after a transaction is reached. Before that, the work is displayed in a form of picture or audio, which reduces the unnecessary NFT minting fee.
There are so many projects in the NFT market that it is difficult for users to choose the one with investment value, or to judge whether the opportunity to enter the market has already gone. NFTs such as collectible artworks and game props are so well designed that investors often forget to analyze the market and only make decisions based on “appearance”.
Openmeta visualizes the data and paves the way for users to make scientific investment decisions. On OpenMeta, each series of NFTs will display information like total supply, numbers for sale, floor price, and turnover. With information like the total supply and the number for sale, users can judge the selling pressure of the NFT and even the community cohesion; With information like the floor price and turnover, users can evaluate the market popularity of the NFT.
In 2022, OpenMeta will continue to optimize the visualization of data, and add useful tools such as NFT price curve and NFT attribute display.
NFT Primary — makes the NFT cake bigger
In addition to the investment function, another major feature of OpenMeta is screening projects for users. NFT Primary is the initial sale platform for high-quality NFTs and mystery boxes. The OpenMeta team and the community join hands to select projects that can be listed on NFT Primary. Users can be early buyers of such NFTs and enjoy the future value appreciation to the greatest extent. Such project recommendations after the screening of NFT Primary can better protect investors.
Besides, OpenMeta also provides its users with higher returns. Its exclusive NFT staking function makes the NFT held by the user no longer a JPG, but an interest-yielding asset.
Since its launch, NFT Primary has launched 5 NFT mystery box sales for 3 projects, including Meta-Elephant NFT, TAP FANTASY METAVERSE, and Wonderful Day. The mystery boxes were all sold out in minutes, and the sales volume all exceeded 20,000 USDT.
The NFT mystery boxes issued by MDEX on OpenMeta were priced at 150 MDX, or about $30. Now, this series of NFTs is hard to come by. Of the total of 2,000 NFTs sold by Primary, only 26 users chose to resell them. NFTs that have the ability to capture the project value and be staked on OpenMeta for mining bring more possible value to users. Other NFTs launched by OpenMeta are also very hard to come by.
Such screening is also a win-win for NFT projects and OpenMeta. OpenMeta provides targeted, loyal and experienced cryptocurrency users for NFT projects, and NFT projects bring high-quality projects to OpenMeta. The Openmeta team will also participate to make sure that excellent ideas can grow into high-quality projects.
Compared with LooksRare and X2Y2, OpenMeta is more prepared and hits the market pain points more directly. In terms of operation strategy, OpenMeta focuses on long-term and sustainable growth, which is more down-to-earth, and aims to make the cake bigger. The NFT market is still an incremental market, is bound to expand its border further!
I have worked in the financial sector for over 10 years and have been writing about cryptocurrency for the past 2 years. I have a passion for finance and technology and I enjoy sharing my knowledge with others. I am a regular contributor to CoinDesk, one of the leading publications in the space. In addition to my writing, I am also a popular speaker on the topic of cryptocurrency and have given talks at various conferences around the world.