The NFT asset market broke out, taking over DeFi to start a new journey

Today, coindesk, a well-known overseas media in the encryption field, published a significant article “NFT surpasses DeFi: the use of OpenSea surpasses Uniswap”.

The article reported that according to transaction data in the past few days, in terms of Ethereum’s fee consumption, Opensea, the largest NFT trading platform, has surpassed the decentralized exchange Uniswap.

Everyone is very familiar with Uniswap, and it is the largest decentralized exchange. The rise and fall of Uniswap trading volume basically reflects the rise and fall of the DeFi ecosystem.

Opensea is still relatively unfamiliar to domestic players, but it is well-deserved as the largest NFT exchange overseas. During this period of time, I often mentioned this exchange, and in the August 1st article “How to Invest in NFT Projects”, I took BAYC as an example to introduce you how to buy NFT tokens on OpenSea.

OpenSea’s handling fee consumption exceeds Uniswap, indicating that the transaction volume of NFT tokens exceeds DeFi. This is a landmark event in the ecological development of Ethereum.

I remember that before the sharp fall on May 19, I expressed my feelings at the time in an article: I think DeFi has gradually entered a relatively stable development period. Although there is still a lot of room for growth in the future, it is The explosive growth that happened last year is probably not going to happen anymore. Next, in the second half of the bull market, I think it is the development of NFT and the meta-universe pan-ecological development with NFT as the core that will push the market up.

Today, when I read this article, I am more convinced that the trend is developing as I thought.

After the collapse on May 19th, when I was browsing overseas NFT projects, I felt that overseas NFT projects marked by avatar-type projects were exploding in groups.

So what I saw was the scene of the two heavens of ice and fire:

If we look at Bitcoin, Ethereum and DeFi alone, what we see is a decline in currency prices, but if we look at the development of overseas NFT projects, what I see is prosperity. Now recalling the situation at the time, does this mean that NFT will start the next new voyage after taking over DeFi?

The NFT field as a whole is still at a very early stage, so many tools are not yet mature. The immaturity of tools leads ordinary investors to lack even the minimum information channels, let alone simple and easy-to-use trading channels. This has brought huge obstacles to ordinary investors, especially domestic ordinary investors.

I am afraid that this situation will be difficult to improve in the short term.

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When we check information about Bitcoin, Ethereum, and DeFi tokens, we can look at coinmarketcap and non-small accounts. But when we checked the NFT project, now the biggest information channel is Twitter, and almost all of it is the Twitter of overseas players.

When we buy Bitcoin, Ethereum, and DeFi tokens, we can use Uniswap or the three major institutions. But when we buy NFT tokens, due to the particularity of NFT tokens, there are currently no centralized exchanges, only decentralized exchanges, and all of them are decentralized exchanges operated by overseas teams.

Therefore, I suggest that qualified investors should go to Twitter and Opensea to get first-hand information. At present, no matter what media reports on overseas NFT projects, they cannot keep up with the progress of overseas project outbreaks and updates. The information gap here is too great. At this stage, this gap can only be filled by the participation of investors.

Some readers mentioned some tokens in the NFT field, such as MANA, SAND, AXS. These tokens are project tokens in the NFT field, but they are not NFT tokens, but ERC-20 tokens. These tokens can be found on coinmarketcap or non-small accounts, and can be bought on the three major institutions or UNISWAP.

The NFT tokens (such as cryptopunk, BAYC, etc.) of the projects mentioned in my article and the book “Meta Universe” can only be bought at OpenSea or NFT token exchanges similar to OpenSea.

These two types of tokens are completely different in nature, and this important difference hopes that readers must distinguish between them.

I will continue to share some basic knowledge and introduction of NFT tokens with you in the next articles.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-nft-asset-market-broke-out-taking-over-defi-to-start-a-new-journey/
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