Video game retailer GameStop’s non-fungible token (NFT) exchange is gaining popularity among JPEG collectors, with more than 5,000 ETH (approximately $7.2 million) trading volumes since its launch in January. On July 11th, more than double that of competitor Coinbase.
from that success Divided into sales volume of 1,200 ETH (approximately 1.7 million USD) from the project. MetaBoy which has been the most popular collection on the market since its launch. which on the opening day The market traded volume of 1,831 ETH (about $2.7 million) and has gradually dropped to its current level.
Meanwhile, competitor Coinbase has only sold 1,913 ETH (about $2.8 million) since.open to the publicon the 4th of May according toinformationFrom Dune Analytics
The popularity of GameStop’s NFT Market is likely due to brand loyalty rather than market technology. User sentiment of GameStop’s NFT market on Twitter is largely positive, while Coinbase and the bigger company’s image tend in the opposite direction.
In addition, GameStop’s success came despite collecting a 2.25% market fee, while Coinbase offered fee-free trading to attract new users.
However, the two NFT markets are still a long way off the industry-leading OpenSea platform, which saw $120 million in sales last week, according to Reuters.informationfrom DappRadar
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