Browsing: the NFT market

  • In 2021, the NFT market generated more than US$25 billion in trading volume, and 2022 appears to generate more figures than the previous year
  • NFTs are digital assets in the form of a digital file, an image, video or audio that a seller uploads to a cryptocurrency exchange platform for people to buy through cryptos
  • The KuCoin cryptocurrency trading platform announced on April 19 that it will launch a US$100 million Creators Fund to support early-stage NFT projects

Recently, Changpeng Zhao, the founder of the largest exchange platform, binance, argued that the NFT business is “bonkers”, expressing his disbelief about how successful the NFT market has become.

Changpeng quotes how almost a year ago, an NFT file sold at US$69 million, something the buyers will never even be able to touch physically!

“People may have lost their mind,” Mr Zhao told fortune.

Despite referring to the growing NFT obsession as