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OpenSea Chief Says NFTs Have ‘Promising’ Future As Donald Trump NFT Price Plummets 80%

OpenSea CEO Devin Finzer has tried to allay concerns about the uncertainty of non-fungible tokens (NFTs As a series of scandals hit the industry, according to the Financial Times,

The 32-year-old CEO told The Times about the recent “failures” in the crypto industry, referring to crypto exchanges. FTX ‘s bankruptcy filing in November contributed to the decline in the value of . digital assets .

Finzer acknowledged that the market hype over the past two years has caused OpenSea’s value to skyrocket.

OpenSea is one of the world’s largest marketplaces for NFTs. NFTs are online digital collections or artworks using the same blockchain technology as cryptocurrencies.

Finzer said NFTs still have a “promising future,” arguing that people will continue to spend money on digital assets for years to come.

“NFTs will not always be bought and sold in cryptocurrencies as they are today,” he said.

He said, “There are various reasons why it makes sense in the current ecosystem, but as we become wider and more accessible, there is no reason why NFTs cannot be denominated in US dollars.”

OpenSea’s Ether cryptocurrency monthly trading volume fell from a peak of $4.9 billion last January to $253 million in November, according to data from a Dune Analytics user named “rchen”. 95% less.

The New York-based company doesn’t disclose financial data, but according to the Financial Times, OpenSea’s NFT daily trading volume fell from a record 2.3 million in January to 740,000 last month. 68% less.

Donald Trump NFT lowest price plunges 80%

The Trump Digital Trading Card, a series of NFTs held by the former U.S. president, has seen 80% of its value as the lowest price of Ethereum (ETH) fell from $0.84 a decade ago to $0.16, according to CryptoSlate. lost.

According to OpenSea data, 15,115 owners hold 45,000 NFTs, representing a unique owner rate of 34%, Cryptoslate observes.

45,000 NFTs were available for minting during the sweepstakes entry period. Trump launched his collection on December 15th. Each NFT during the admission period is $99 and currently he is worth 0.083 ETH.


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