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How “More Mature” Collectors Are Driving the NFT Market’s Return

TokenTalk Staff



How “More Mature” Collectors Are Driving the NFT Market’s Return

In 2021, Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, appeared to sound the death knell for Bitcoin investing after the Chinese government cracked down on cryptocurrency mining (the term used for the creation of new bitcoin units). “I sold almost all of my bitcoin. I don’t need it,” Cramer announced on CNBC’s Squawk on the Street. This was a year before the value of several cryptocurrencies, such as stablecoins TerraUSD and Luna, as well as the multibillion-dollar cryptocurrency exchange FTX, collapsed, and Bitcoin itself fell 77% below its all-time high.

Is the story over? Difficultly. Bitcoin and other forms of crypto have rallied to new highs, and Cramer himself has reversed course, recently claiming that Bitcoin is “here to stay.”

What was called “crypto winter” has ended, bringing a resurgence in interest and prices for NFTs (non-fungible tokens), which include art images. “The hype and speculative frenzy that NFTs saw several years ago has disappeared,” says Ric Edelman, founder of the Council of Digital Asset Financial Professionals, which helps financial advisors understand this new investment domain. “Prices are recovering, trading volume has recovered and we are seeing big inflows again.”

Don’t believe the hype: the market may be moving away from its frenetic start to focus more on Florent Tournier’s artistic value

The NFT market took off in 2021, with museums, artists, groups new to the market such as Yuga Labs (of Bored Ape Yacht Club fame), Dapper Labs (creators of CryptoKitties) and National Basketball Association Top Shots, as well as celebrities such as Snoop Dogg, William Shatner, Damien Hirst and Lindsay Lohan minting their own blockchain-based digital assets, which can be purchased with cryptography. The NFT market, registered on blockchain platforms and markets, reportedly reached $41 billion in 2021, falling to around $21 billion at the end of 2022, before losing around 95% of its value in 2023.

Bernadine Bröcker Wieder, CEO of Arcual, a company with offices in Berlin, London and Zurich that uses blockchain technology “to facilitate a new and updated standard for secure transactions in the art market”, says that the “value of digital art acquired in NFT markets were indeed inflated over a period of time, along with cryptocurrency prices, thanks to speculation sparked after the pandemic, and there has been a swing of the pendulum back in 2023.” She adds that “activity in NFT markets has also increased, likely due to positive news about cryptocurrencies in the press.”

The art market’s interest in NFTs has matured, according to Mark Cuban, owner of the Dallas Mavericks basketball team and investor in OpenSea, one of the largest marketplaces for user-owned digital goods that includes collectibles, game items, names domain names, digital art and other blockchain-based assets. “It’s much more deliberate and collector-oriented,” says Cuban, adding that “people are less focused on immediate appreciation and more on appreciating the art itself.”

Others involved in the NFT world also disagree with the perception that this form of collectible is more hype than substance. “Our goal is to support artists represented by Pace Gallery in their new media investigations,” says Ariel Hudes, head of Pace’s NFT division, Pace Verso, which was created in 2021. “We’re not trying to increase [price] speculation. We are doing this because we believe in the artists and the work they are creating.”

Artistic value

Others make similar claims about helping artists rather than fueling a frenzied market. Brian McAlister, co-founder of, which claims to be the largest NFT marketplace on the Tezos blockchain, says “our focus as a platform has always been on the artistic value and potential of digital art, not speculative trends.” in cryptocurrency.” He adds that “as speculation calmed, true collectors and art enthusiasts continued to search for real value and artistic integrity. These collectors are not primarily motivated by potential earnings, but are motivated more by the desire to engage in sponsorship and directly support the artists behind the work.”

Another big player in this space, Sunil Singhvi, head of arts and culture at London-based TriliTech (which works with entrepreneurs and artists to build projects on the Tezos blockchain), says “there has been a huge amount of energy and speculation around the NFTs during the pandemic,” with some purchasing them “as an investment piece or as a launch into the art world.” Many of these pieces are now “less valuable than they were two years ago.” However, he says TriliTech continues to work with artists whose main goal is to “find an audience,” and for many artists and collectors the goal is to “belong to a group of people” with similar tastes and interests.

The artistic NFT market has not gone into hibernation. Sotheby’s continued to hold digital art auctions, including a small sale of Bitcoin ordinals (which function similarly to NFTs) in December and a larger one in January that raised a total of $1.55 million, as well as a generative art that began last July with the sale of works by Vera Molnár, a Hungarian artist who died in December at the age of 99, who made US$1.2 million. (Generative art refers to computer-generated artwork determined by algorithms.) The auction house’s next generative art sale will take place in June and will feature renowned French sculptor Bernar Venet, who will launch his first art project digital with this auction.

Michael Bouhanna, a contemporary art expert and head of digital art and NFT sales at Sotheby’s, says some galleries “have had an impact on the NFT market,” citing Gagosian and Pace, but that Sotheby’s and Christie’s, their auction arch-rivals sector, have “led the market, achieving first market sales”. He points to “a shift in collectors” of NFTs over the past year to “more mature, more educated” buyers, as opposed to those entering the market in 2021, which has become “a field for speculators more interested in making a quick profit.”

Auction house endorsement

Both Sotheby’s and Christie’s accept payment for digital art in crypto and occasionally for physical artwork. At Sotheby’s, Bouhanna estimates that about half of NFT buyers pay in crypto (although it is rare for physical art to be paid for in this way), although this is a “relatively rare occurrence,” according to Nicole Sales Giles, director of digital art sales at Christie’s, “but we’re happy to do it” if a collector requests it. “Many digital art buyers firmly believe in the future of crypto, and some prefer to settle by fiat [government-backed currency] and keep your encryption for that reason,” says Sales Giles. On the auction house’s on-chain sales platform, Christie’s 3.0, “100% of payments and settlements are automatically in ethereum, as the platform is completely on-chain.” She adds that crypto is not accepted as a form of payment in any other department at Christie’s.

Bitcoin and other cryptocurrencies have gained wider acceptance in the financial sector this year, as the US Securities and Exchange Commission (SEC) approved the launch of several bitcoin exchange-traded funds (ETFs) in January, allowing shares in trusts that holders of cryptocurrency are bought and sold on exchanges regulated by the SEC. Franklin Templeton Investments, which manages a portfolio of assets worth $1.3 trillion, launched the first on-chain money market fund in 2023, and BlackRock, the world’s largest asset manager, launched its own fund tokenized in March. Both companies, along with Fidelity, which launched its own bitcoin fund in January (with assets of $6.9 billion), and others, “believe that tokenization will revolutionize the financial services industry in the coming years.” five years,” says Edelman. “The era of the ‘crypto brothers’ is quickly ending, and while they have managed to get 5% of the world’s population involved in crypto, the financial services industry will involve the other 95%.” He adds: “We project that independent advisors will put $150 billion into bitcoin over the next two years.”

Cryptocurrencies have been and continue to be riskier than government-backed money like US dollars and euros. Given that they are created through computers, computer hacking – especially enabled by quantum computing, which can break encryption – has the potential to lead to chaos in digital financial markets. Furthermore, flaws in the computer code, which have appeared twice with Bitcoin since 2010, can increase currency price volatility.


We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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8 NFT Primitives You Should Know

TokenTalk Staff



8 NFT Primitives You Should Know About

If DeFi has “legos of money”, then NFTs have “legos of culture”.

Another way to put it? NFT Primitives.

In cryptography, a primitive is a fundamental building block that can be used to create more complex systems or applications.

NFT primitives are important because they pave the way for new innovations and new use cases around NFTs, allowing developers to create more sophisticated and versatile experiences.

To give you a better idea of ​​the programmable possibilities here, let’s look at 8 examples of some of today’s most notable NFT primitives.

1. Zora Protocol Rewards

by Messari

When a creator selects the “Free + Rewards” pricing option when minting their NFTs on Zora, they become eligible for Protocol Rewards by splitting the Zora Mint fee of 0.000777 ETH.

Upon new mintings, these rewards are accumulated in an escrow contract and can be withdrawn by the creator at any time.

Developers or platforms that facilitate the creation of NFT collections or refer collectors to mint NFTs also receive rewards. This includes “referral creation” rewards for those who bring creators to the platform and “mint referral” rewards for those who bring collectors.

Hence, Zora Protocol Rewards introduces a fundamental reward mechanism that can be leveraged to create new applications, for example, alternative self-funded Zora front-ends. It can also be easily integrated into existing NFT projects and platforms.


by Benny Giang

ERC-6551 introduced a fundamental change to the NFT space, allowing NFTs to function as their own smart contract accounts.

By allowing NFTs to own assets, interact with web3 applications, and act as onchain identities, ERC-6551 has significantly expanded the basic properties of ERC-721 tokens. The composable nature of ERC-6551 means it can be combined with other protocols and applications to create innovative NFT utilities.

For example, the original architecture of the AI-based simulation game Parallel Colony was inspired by ERC-6551, as the standard allowed the game’s AI agents to act as wallets and manage their own token assets.

3. Boosts

by Boost

Boost is a distributed incentives protocol. It allows for the deployment of incentives, i.e. tokens, to encourage targeted on-chain actions, and recently we have seen more and more incentives deployed to drive engagement for new NFT mints.

For example, you can set up a boost so that the first 100 minutes of your latest NFT drop will receive 2$OP each as a reward. How you configure the parameters is completely arbitrary and up to you.

That said, Boost’s open and composable design allows it to be easily integrated into other applications, allowing it to serve as a lever for anyone looking to take advantage of its features.


by Standardizer

DN-404an optimized version of the ERC-404 experiment, helped popularize a new way of creating hybrid tokens that act as both fungible (ERC-20) and non-fungible (ERC-721) tokens.

Consequently, DN-404 can be used in a variety of applications, such as enabling fractional ownership of NFTs, increasing liquidity for NFT projects, and creating new trading mechanisms that leverage fungible and NFT properties.

5. Noun Protocol

by Nouns

One of the most popular NFT primitives is the Noun Protocol.

With this system, Nouns pioneered a complete model for continuous NFT generation, auctions and community governance. This foundation has inspired and been modified by many dozens of spin-off projects to date, leading to the phrase “substantive DAOs.”

The fully on-chain nature of the Nouns Protocol also means that developers can build new applications around Nouns as they please.

6. Net Delegates

by to delegate

Created by the team of Delegates, Net Delegates introduced a new mechanism that allows delegation rights to be bundled into tradable NFTs.

By allowing NFTs to delegate rights, Liquid Delegates have added the ability to trade those rights, claim airdrops, access token-gated communities, and more, all without transferring ownership of the underlying asset.

Projects can use this feature for a variety of purposes, but we’ve generally seen it integrated so that people can safely mint or claim tokens in their vault wallets.

7. Non-Fungible Vaults (NFVs)

by Open Dollar

Developed by Open Dollar, Non-Fungible Safes (NFVs) link collateralized debt positions (CDPs) to transferable NFTs instead of protocol accounts.

This primitive makes ownership of stablecoin loan positions liquid and transferable, improving capital efficiency and flexibility.

In other words? NFVs pave the way for the first secondary lending markets in DeFi and can be integrated into DeFi in new ways thanks to the existence of NFTs.

8. Net Listings

by Skinner

One of the latest NFT primitives is Flayer Net Listingswhich allows rarer non-floor NFTs to be deposited into collection pools in exchange for “Floor Tokens”.

These tokens, for example ƒMILADY, represent the minimum value of the NFT and can be sold to provide immediate liquidity, with the remaining listing value realized in the final sale of the NFT.

Notably, this primitive uses Harberger fees to ensure fair pricing, making it easier to sell NFTs off the floor and access liquidity quickly and smoothly.


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OKX Marketplace partners with Web3 game

TokenTalk Staff



OKX Marketplace now supports zero-fee Metaplex

SINGAPORE, June 21, 2024 (GLOBE NEWSWIRE) — OKXa leading Web3 technology company, published updates for June 21, 2024

OKX Marketplace Partners with Web3 Game BLOCCLORDS to Launch Exclusive Offer of 300 ‘Legacy Cowherd’ NFTs

OKX Marketplace and medieval Web3 game BLOCKLORDS have teamed up to launch a exclusive draw of 300 Ethereum-based ‘Legacy Cowherd’ NFTs. The giveaway, which began on June 19th and will end on June 26th, offers participants an exclusive chance to receive a ‘Legacy Cowherd’ NFT.

To participate in this campaign, participants must hold a minimum of 0.005 ETH during the campaign period and complete simple tasks on social media, such as following BLOCLORDS on X. More details on how to participate in the campaign can be found here.

BLOCKS presents a player-driven medieval grand strategy game where players’ decisions and skills shape the world and narrative. The game offers various play styles such as farming, fighting, resource management and government, allowing players to create their own destinies. The ‘Legacy Cowherd’, BLOCKLORDS’ newest hero, symbolizes patience, resilience and heritage, guiding his cattle through storms to lush pastures.

For more information, visit the OKX Support Center.

For more information, please contact:

About OKX

A leading global technology company powering the future of Web3, OKX offers a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet that gives users access to over 85 blockchains while allowing them to take custody of their own funds. The portfolio includes MPC technology which allows users to easily regain access to their wallet independently, eliminating the need for traditional, ‘written’ seed phrases. Additionally, OKX Wallet’s account abstraction feature Smart Account allows users to pay for transactions across multiple blockchains using USDC or USDT and interact with multiple contracts through a single transaction.
  • DES: A multi-chain and cross-chain decentralized exchange aggregator with 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and 20+ blockchains supported.
  • NFT Market: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings on seven top-tier marketplaces, including OpenSea, MagicEden, LooksRare, and Blur.
  • Web3DeFi: A powerful DeFi platform that supports earning and staking on around 70 protocols across 10+ chains.

OKX partners with many of the world’s leading brands and athletes, including English Premier League champions Manchester City FC, McLaren Formula 1, Tribeca Festival and Olympian Scotty James.

OKX also regularly publishes articles, accessible via OKX Learn. These articles provide readers with in-depth analyzes of all cryptocurrenciesincluding factors that influence Bitcoin Prices It is Ethereum Prices.

To learn more about OKX, download our app or visit:



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Bitwise launches commercial Pro Ethereum as NFT

TokenTalk Staff



Bitwise launches commercial Pro Ethereum as NFT

For the first time, Bitwise Asset Management, a crypto index fund manager, has turned an Ethereum TV commercial into an NFT. The move is part of Bitwise’s campaign to raise awareness of Ethereum crypto projects such as stablecoins, NFTs, DeFi and tokenization, while promoting the Bitwise brand.

As part of the campaign, Bitwise made history by offering viewers the opportunity to mint the ads as low-cost, open-edition NFTs through Zora, a widely used NFT platform on Ethereum. This marks the first time a national TV commercial has been minted as an NFT.

Minting profits will be split equally between the Protocol Guild, which supports open source Ethereum developers, and the actors featured in the videos.

There is something about embodying Ethereum in contrast to legacy financial and technology platforms that both highlights its potential and highlights how inefficient the status quo can be. With these announcements, we are excited to highlight Ethereum’s innovative potential with the accessibility, intelligence, and crypto-native spirit that has always defined Bitwise.

said Victoria Kulbanska Anderson, head of growth marketing at Bitwise.

The Ethereum-themed ads were created in cooperation with Studio City PXL and production company Revolver Films. The success of other previous campaigns like ‘Bitcoin Is Interesting’ also suggests that this partnership creates value for the public and for the companies involved in making the commercials.

Bitwise Asset Management is a crypto investment company founded in 2017 and offers its investors investment products such as ETFs, private funds and active solutions.

Read too: Bitwise Updates S-1 for Ethereum ETF After SEC Feedback


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Konami Launches NFT Solution ‘Resella’ on Avalanche Blockchain

TokenTalk Staff



Konami Launches NFT Solution 'Resella' on Avalanche Blockchain

Konami Launches NFT Solution ‘Resella’ on Avalanche Blockchain

What is Resela?

Resella facilitates the design, issuance and negotiation of NFTs across multiple services as well as providing a marketplace for users to buy and sell these digital assets. Notably, the platform supports transactions in Japanese yen ($JPY), making it accessible to users unfamiliar with cryptocurrency.

“Resella paves the way for new social experiences within the web3 ecosystem, envisioning seamless integration between diverse services to improve user engagement,” Konami said in a statement.

“For example, NFTs originating from gaming environments can transcend their virtual boundaries to serve as event tickets or unlock exclusive in-game content, enriching the overall user experience,” the company added.

The platform is designed to not only develop new web3 services but also convert existing web2 services to web3. Konami intends to promote the adoption of web3 technologies in different consumer sectors, in addition to gaming.

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