12/04/2023 Former Bitcoin Core Developer Says NFT Market Is ‘Pleasantly Down to Earth’ Again

Now that the crypto asset sector has weathered the hype, higher-quality projects are likely to continue developing, Jeff Garzik says.

The hype once driving the popularity of non-fungible tokens (NFT) may have finally settled, said Jeff Garzik, a former Bitcoin core developer and co-founder of software development company Bloq.

“I call the [NFT] market ‘pleasantly down to Earth,’” Garzik, who is also the founder of Web3 focused entertainment company NextCypher Productions, told CoinDesk TV’s “First Mover” on Tuesday.

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While still nowhere near the volumes of last year, things have been picking up with NFTs. According to areport from online store for decentralized applications (dapp) DappRadar, the NFT market had a 137% increase in trading volume during the first quarter of this year. Despite a slight decrease of over 15% during March, the ecosystem reached $4.7 billion in total value for the first quarter.

New and emerging online marketplaces such asBlurled a substantial increase in the overall trading volume during the ecosystem’s first quarter. Garzik said projects like Blur are “fantastic” in that they will drive market competition, and are likely to “force other competitors in the market to improve and to get better.”

Garzik said that a lot of the NFT hype appears to have finally “burned off,” and users now are looking for NFTs that can provide real utility, something that users can engage with and that will attract their attention.

Arts

https://www.coindesk.com/web3/2023/04/11/former-bitcoin-core-developer-says-nft-market-is-pleasantly-down-to-earth-again/

Interesting NFTs
The Rare Pearl Moon with Motion
Motion Version Part of my moon series. This super rare pearl moon has just washed ashore on a remote tropical island beach, fining one of these rare Jems is like a total worldly treasure! These moons, only fall to earth once in a few million years! When I found this one I felt the luck that is said to come with this pearl moon.
No Entrance to the Wetlands
Inspired by the Torrey Pines State Reserve and the many fences that block it. This particular section of the wetlands connects to the Pacific Ocean, and is a very popular spot for San Diego locals.
Magnificent
Discovery of a new planet.
Ringers #220
Art Blocks is a first of its kind platform focused on genuinely programmable on demand generative content that is stored immutably on the Ethereum Blockchain. You pick a style that you like, pay for the work, and a randomly generated version of the content is created by an algorithm and sent to your Ethereum account. The resulting piece might be a static image, 3D model, or an interactive experience. Each output is different and there are endless possibilities for the types of content that can be created on the platform.
Brave Samurai
This is the second collaborative piece that I have created with the very talented Dutch artist, @eattheart23. Here, a samurai warrior stands guard, honour bound to protect his master even to the death.