How the hype around NFTs has decreased massively since 2021 where it was at the peak of popularity and even celebs were buying NFTs left and right. Anyways, why am I bringing this up? I was going through the pre market for Magic Eden and I actually went to check the marketplace and it reminded me of how I used to browse Opensea everyday in 2021 lol
Well , if you're still a memecoin person you'll know of Magic Eden, you know it's popular for it's multi chain functionality and that enables it to make and receive payments in a flexible manner, so it makes 5thye whole market place user friendly. It's no wonder the premarket has decent volume, around half a mil in vol
What do you guys think was responsible for that drop?
To answer your question, most NFTs really had no value and survived only on hypes and when the hype finally died down, it died with them.
I've been looking at Magic eden for a while tho. I really did see it on the pre-trade counter when I was searching for some available coins for pre-trade.
Official listing is actually today on Bitget tho.