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Newsletter #46 Marketplace wars have been great for the NFT space

March 13, 2023
3 min read

Gm Tigers, this is Tegro Dispatch, the only newsletter that you’ll need to start playing and earning in Web3.

Before we get to the topic of discussion -  Are you tired of missing out on the booming Gaming NFT market? Don't worry, we've got you covered. Introducing Tegro - the new exchange that's bringing NFTs to the masses!

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The NFT market has been abuzz with excitement lately, thanks to some significant developments that are shaking up the industry. The most notable event has been the fierce competition between two of the biggest marketplaces, Blur and Opensea, as they fight for supremacy. Blur has launched its own token and airdropped millions of tokens to previous users, while Opensea has lowered its fee to 0% on trades and changed creator royalties. This rivalry has pushed both platforms to offer better deals, ultimately benefiting the NFT market as a whole.

In addition to the marketplace wars, funding in the NFT sector has skyrocketed, with a staggering 71.5% increase from the previous month, totaling $41 million in funding. Superplastic and Fungify were the biggest winners, raising $20 million and $6 million, respectively. This is a clear sign that the NFT market is growing rapidly and has enormous potential.

Another exciting development that happened in February was the release of Bitcoin Ordinals, which allows for NFTs to be stored natively on Bitcoin. This revolutionary protocol has generated a lot of hype among investors and collectors, as it changes the game for NFT storage. Previously, NFTs were stored on a layer on top of Bitcoin, but Bitcoin Ordinals allows them to be stored directly on the blockchain. This innovation has created exciting new opportunities for investors and collectors, with over 200,000 inscriptions made in the last month alone.

 The NFT market is evolving at lightning speed, and we're excited to see what the future holds. With marketplace wars, groundbreaking protocols like Bitcoin Ordinals, and an increase in funding, the NFT market is ripe for exploration and investment. So stay tuned for more updates and developments in this exciting world of NFTs.


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That’s it for today, see ya in the next one. Don’t forget to sign up on Tegro and earn USDT rewards.