<\/p>\n
The presence of big players in the nonfungible tokens market might evangelize newbies, but they do not lead to mass adoption or innovation, claimed Tony Ling, co-founder of NFTGo in a conversation with Cointelegraph.<\/p>\n
Major developments, such as Adobe’s acquisition of Figma, would potentially impact creators per the combination of both the companies’ features. Adobe, for example, owns Behance, a creative showcase platform that allows users to connect crypto wallets and NFTs to their profiles, while Figma provides kits for NFT creators. <\/p>\n
The mainstream presence in the space, however, isn’t seen as a game changer, as the industry faces challenges with high royalty fees and a bear market \u2014 as seen by the recent 20% staff layoff at OpenSea. “Key innovation must happen in the new center, not some existing big unicorns”, added Ling. <\/p>\n
Blockchain adviser and Bundlesbets.com CEO Brenda Gentry shared a similar view, noting that she believes the “industry will always adapt and find new tools”, regardless of the players in the market. <\/p>\n
The Nansen NFT indexes, which track the performance of NFT market cross sectors, is down 24% this year at time of publication. This is in line with the broad market consolidation, explained Louisa Choe, Research Analyst at Nansen:<\/p>\n
“We are seeing lower volumes across the market. However, NFT projects with solid community narratives and cultural references have continued to perform.”<\/p><\/blockquote>\n
The GameFi sector is likely to drive a rebound, suggests recent data from Dappradar. The total NFT trading volume increased by 13.25% in August, and sales rose by 83.36% to over 1.3 million nonfungible tokens traded. Central, Southern Asia and Oceania (CSAO) is seeing\u00a058% of its all web traffic going to cryptocurrency services are NFT-related, driving its crypto adoption, a new Chainalysis report found.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The presence of big players in the nonfungible tokens market might evangelize newbies, but they do not lead to mass adoption or innovation, claimed Tony Ling, co-founder of NFTGo in a conversation with Cointelegraph. Major developments, such as Adobe’s acquisition of Figma, would potentially impact creators per the combination of both the companies’ features. Adobe, […]<\/p>\n","protected":false},"author":1,"featured_media":14211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-14210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n
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