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By NFTevening
Since January 2021, NFT sales have not been this low as of September. All sales came to $296 million, down 20% from August and 81% from March, according to data fromCryptoSlam. In the NFT market, which has experienced a reduction in sales and user engagement in recent months, this notable drop indicates persistent issues.
The quantity of transactions experienced a significant decrease in addition to the overall sales volume drop. From 7.3 million in August to 4.9 million in September, NFT transactions decreased. The mean transaction value had a marginal rise in spite of the general downward trajectory. After reaching $50.71 in August, the average transaction value increased to $60 in September. This indicates that although there are fewer transactions, individual transaction values may be slightly improving.
With the introduction of NFT-integrated postage stamps,Pos Indonesia, the biggest postal service in the nation, has joined the NFT community. The state-owned business introduced “Cenderawasih,” or the bird of paradise, on its debut NFT stamps. These stamps represent a fusion of traditional postage with blockchain innovation.
Source: Pos Indonesia
The new stamps, according to Pos Indonesia, are meant to appeal to both conventional stamp collectors and NFT enthusiasts. The startup aims to maintain links to the historical practice of postal stamp collecting while establishing a new market for digital collectors by fusing blockchain technology with an established hobby like stamp collecting.
Hamster Kombat, a popular Telegram clicker game, has announced its plans to integrate NFTs. The game, which is already viral in the Web3 space, shared its roadmap for the end of 2024 and the upcoming year. November is when the NFT integration is scheduled to occur. The functionality of NFTs in the game has not yet been fully disclosed by the creators, although it is anticipated that they will be important in-game features.
Source: Hamster Combat
The NFT addition could bring renewed interest to digital collectibles. Hamster Kombat’s massive user base of over 300 million players might influence NFT engagement within the game. This move comes at a time when digital assets are facing challenges in maintaining high user activity, making Hamster Kombat’s NFT integration an important development to watch.
An answer to the growing loneliness epidemic may lie in the metaverse. The chief producer of Decentraland, Bay Backner, was upbeat about decentralized metaverse platforms in a recent interview with Cointelegraph. Backner believes that the passion people have for virtual worlds could lead to meaningful connections in the online space.
Backner emphasized the community-driven nature of Web3 platforms, which could foster stronger bonds than traditional social media platforms. Metaverses such as Decentraland, with their decentralized structure, facilitate more meaningful social contact between users, allowing them to build real connections through common experiences in the virtual world. In today’s increasingly digitized environment, this offers a promising way to fight loneliness.
Disclaimer
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry. Opinions expressed on NFTevening are not investment advice. Before making any high-risk investments in cryptocurrency or digital assets, investors should conduct thorough research. Please be aware that any transfers and transactions are done at your own risk, and any losses incurred are entirely your responsibility. NFTevening does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, please note that NFTevening participates in affiliate marketing.
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