• Donald Trump’s digital collectibles experienced a surge in sales following his indictment in New York.
• The NFT market had its strongest quarter since early last year, with a trading volume of $4.7 billion.
• Opensea and Blur are two major players competing for the NFT marketplace war, which has doubled trading volume this quarter.
Donald Trump’s Digital Collectibles Surge Following Indictment
Sales of Donald Trump’s digital collectibles surged following the news of his indictment by a Manhattan grand jury on Thursday, with the Official Trump Digital Trading Cards registering an increase in sales according to data from NFT market Opensea. The thousands of tokenized cards depict him as just about anything masculine, up to a Superman character. After the indictment, prices rose well over 400% in one day and exceeded 0.59 ETH on Friday, March 31st with near 14,000 owners now registered – though prices have since returned to more average levels.
Strong Quarter For NFT Market
A report has revealed that the market for non-fungible tokens (NFTs) has seen its strongest quarter since early last year, reaching a trading volume of $4.7 billion despite a weaker March performance. According to global decentralized apps store Dappradar, Q1 saw an expansion by more than 137%, making it the first quarter where Opensea did not dominate the market for non-fungible tokens – instead being overtaken by Blur who held 57% of the marketplace this quarter alone.
The ‚NFT Marketplace War‘
The competition between Opensea and Blur has been dubbed „the NFT Marketplace War“ due to its focus on doubling trading volumes over Q1 – something which hasn’t been seen since February 2021 according to Dappradar blog post titled „NFT Marketplace War Doubles Trading Volume in First Quarter“. It appears that both platforms are focusing on driving up their respective percentages within the sector even further moving forward into 2Q2023 and beyond too.
Summary Of Events
In summary then; Donald Trump’s digital collectibles surged after he was indicted on Thursday; whilst simultaneously Non-Fungible Tokens (NFTs) had their strongest quarter yet despite slumps in March performance; driven primarily by two major players – Opensea and Blur – vying for control within what is being called „the NFT Marketplace War“ as they strive towards doubling their respective trading volumes within Q1 2021 itself.
It appears that both platforms are focused on driving up their respective percentages even further going into Q1 2023 and beyond too – though it remains to be seen whether or not either player will be able to wrest control away from each other permanently or if they will settle into some kind of equilibrium at some point down the line still yet too!