Hello everyone!
This is ZELIX, introducing a new concept of metaverse and creating a multi-ecosystem.
In this guide, we will be introducing you to the decentralized multi-metaverse project ZELIX, and this is the 16th part.
In our previous installment of the Multi-Metaverse Project ZELIX Guide, we provided the present condition of the NFT gaming market, its constraints, and provided direction on the future trajectory of the ZELIX ecosystem.
In this guide, we will guide you the recent NFT Market status & Set to Bounce back and provide direction on the future trajectory of the ZELIX ecosystem.
The sluggish NFT market is set to bounce back this year
According to recent DappRader Research, a select few prominent NFT collections are propelling the market’s evolution, thanks to the expanding application of NFTs in various use cases beyond mere collectibles. We anticipate this trend to persist robustly through 2024.
However, a small number of well-established competitors continue to hold a significant portion of the market share in the PFP market, as a few highly reputable NFT collections like Pudgy Penguins, Bored Ape Yacht Club, and Crypto Punks have utilized their early advantage or strategic maneuvers to transform their previous collectibles into valuable IP brands across both digital and physical platforms.
Users also hold the belief that these compact collections will have the capacity to expand and develop as the NFT industry progresses.
The industry professionals and experts do not appear to have an immediate response to the claims that the NFT market will experience a rebound in 2024.
This is primarily due to the fact that few asset categories have performed as poorly as NFTs during the current cryptocurrency bear market, and although NFT trading volumes have experienced a slight increase since the latter half of last year, there is no assurance that this trend will persist.
Additionally, the prolonged downturn of the NFT market has caused the term to become stigmatized in many circles, contributing significantly to the pessimistic outlook on the forecast for recovery.
Nevertheless, experts in the industry maintain that a potential recovery in the NFT market may be possible if the negative global macroeconomic conditions and escalating interest rates that led to its decline in 2024 are addressed, coupled with sustained growth in NFT trading volumes, albeit falling short of previous peak levels.
NFT Market Recovery Expected to “Show a Different Pattern than Before”
Initially, there are arguments that can be put forth indicating that the evolving patterns in buyer and seller count statistics, along with the emergence of Bitcoin-centric NFTs, indicate that the NFT market remains dynamic, despite the decline observed since the middle of the previous year.
In the future, the NFT market holds immense potential. The emergence of DeFi and NFT-based networks signifies a transformative period for investors, collectors, and content creators.
In reference to the statistics of the NFT market, professional analysts have observed that although the overall NFT sales have decreased notably from their highest point, the heightened activity and expansion of platforms and collections indicate a sector that is both resilient and evolving.
Specifically, the fluctuating trends in buyer and seller numbers, alongside the emergence of Bitcoin-centric NFTs, indicate that the NFT market remains dynamic, despite a notable decrease in transaction volumes since the previous year.
In conclusion, within the developing NFT market, a significant number of users will have the opportunity to collaborate in constructing the ZELIX NFT Platform, thus contributing to the growth of the ecosystem.
In the future, we will address the challenges with the NFT industry in a more productive manner, thereby generating fresh opportunities for ZELIX players and investors.
In conclusion
Today, we simply reviewed NFT Market Recovery Expected to “Show a Different Pattern than Before”.
We will be back with another topic next time.
Thank you.
ZELIX Official Link
. Homepage : https://zelix.io
. Medium : https://medium.com/zelix
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. Facebook : https://www.facebook.com/zelixofficialfb
. Telegram Group : https://t.me/zelixofficial
. Telegram Channel : https://t.me/zelixofficial_channel
