On Jan. 19, something unusual happened in the NFT market — a CryptoPunk, which typically sells for a minimum of $100,000, was swapped for a full set of tokens from an obscure collection called The Memes.
Like its competitors, NFT marketplace Magic Eden has had a rough year. It dominates the NFT market on Solana, handling at least 90% of the trading volume on any given week, according to an analysis of data from Nansen. On Ethereum, NFT trading volume is a fraction of what it was at the beginning of 2022 – on Solana, trading volume has held steady.
In the same year that everyday investors lost a whopping $350 billion, Masterworks had its best year yet – really. Their 9 art sales returned $25.8 million to investors, a record amount. Talk about a Happy New Year…
So, what did investors do with their cash? Charter a yacht in Ibiza? Finally close on that Alpaca farm? Maybe save a little? Naaah.
Either way, Masterworks wants to do the same thing for you. This fintech investing platform is unlocking an asset class that was once available only to billionaires.
“Net Return” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important Regulation A disclosures at masterworks.com/cd.
Tokens for smart contract platforms defied the mild swoon in crypto markets Thursday and Friday. MATIC, the native token of the Polygon blockchain, a popular scaling solution for Ethereum, jumped 8% in the last 24 hours in early morning trading U.K. time. Fantom’s FTM is up 6%, according to The Defiant Terminal.
The FTX collapse injected doubt into the very concept of centralized platforms. In contrast, decentralized exchanges offer both transparency and self-custody. But how can DEXs bridge the liquidity gap that CEXs offer?