Shocking NFT Sales Surge! But Where Did Everyone Go? 🤔💸

by

Well, well, well! In the fourth quarter of 2024, NFT sales on Immutable X and zkEVM skyrocketed by a whopping 55.3%! That’s right, folks, from a measly $51.2 million to a jaw-dropping $79.5 million! Who knew digital doodads could make you feel so rich? 💰

But Wait! Market Participation Takes a Nose Dive! 🐠

Now, hold your horses! While sales are doing the cha-cha, the number of daily sellers and buyers decided to take a vacation. Daily sellers plummeted by 43%—from about 1,500 to a sad little 880. And buyers? They dropped 38.1%, from 1,300 to 800. Looks like everyone’s too busy binge-watching their favorite shows instead of trading NFTs! 📺

What’s driving this sales surge, you ask? Well, it’s all thanks to the Guild of Guardians Heroes and Avatars NFTs, which are hogging more than 99% of the trading volume! Talk about a popularity contest! Most of the action is happening on Immutable zkEVM, where these digital heroes are traded like hotcakes. And guess what? Average daily sales volume jumped 73.3%! From around $484,000 to $839,000! Someone call the NFT police, we’ve got a hot market on our hands! 🚓🔥

But wait, there’s more! User engagement on zkEVM took a nosedive, dropping 21.1% in average daily transactions. It’s like everyone decided to take a long lunch break! Average daily active addresses fell 23.8%, and new addresses? They plummeted by 29.8%! It’s like a ghost town out there! 👻

This decline mirrors the broader GameFi market trends, which Messari says is just a cooldown after the Q3 party, fueled by games like Guild of Guardians and Immortal Rising 2. Who knew gaming could be so exhausting? 🎮😴

Immutable has been busy, though! They’ve opened the floodgates for developers on zkEVM, removing the deployer allowlist. Now anyone can throw their smart contracts into the mix! It’s like a free-for-all at a buffet! 🍽️

In Q4 2024, average daily transaction fees on zkEVM dropped by 17%! That’s right, folks, from 574 IMX to 477 IMX! Messari says it’s because of less congestion. And to sweeten the deal, Immutable is covering gas fees for Passport holders! No more wallet-emptying surprises! 🎉

But wait, there’s a twist! By the end of 2024, the total value locked in DeFi on Immutable fell to $13.8 million. Why? Because the price of the IMX token took a tumble! But don’t worry, measured in IMX, the TVL actually went up by almost 17%! It’s like a rollercoaster ride—up and down, but mostly just dizzying! 🎢

Immutable’s SEC Shenanigans! 🚨

On November 1, 2024, Immutable got a Wells notice from the SEC! Oh boy, talk about a party crasher! They expressed concerns over the notice, which came with more questions than answers. It’s like getting a surprise visit from your in-laws—awkward and confusing! 😬

Fast forward to 2025, and the SEC has wrapped up several crypto investigations without any charges against OpenSea, Gemini, or Robinhood. But Immutable? They’re still in the hot seat along with Crypto.com and Unicoin. It’s like a never-ending game of musical chairs! 🎶

Read More

2025-03-23 01:33