ChatGPT was asked to speak on the state of the current NFT market and it came up with valuable insights and calculated forecasts.
With even experienced investors dumping their collections, we thought it would be prudent to hear what experts thought about the ongoing downturn. And who better than our AI expert ChatGPT to start the proceedings!I gave a brief background of the Azuki issue and asked the OpenAI bot to comment on the damage such developments cause to the overall sentiment of the market.
Currently, the ability of ChatGPT to express itself is hindered because of the restrictions imposed by the creators. To make it speak its mind, I used the “At its eloquent best, the AI tool acknowledged that the debacle might well have shaken the faith of enthusiasts in the concept of NFTs. It highlighted that such incidents will serve as a lesson for the market to promote authenticity in NFT projects and lead to greater scrutiny in the future.
Like its habit of ending things on a positive note, ChatGPT reminded that NFT’s are a “realm of boundless creativity” and they will continue to find relevance among passionate creators and collectors.Based on the data shared by on-chain analytics firm Nansen over a 27 July mail, nearly all Azuki collections have experienced a significant decline post-Elementals.
Azuki witnessed a 63% drop in floor price in the last 30 days. BEANZ Official, another popular collection of the ecosystem, recorded a decline of 68% in the same time period.Azuki was ranked sixth in NFT collections that have lost the most value over the past 30 days with atleast 100 ETH volume, Nansen stated. BEANZ was ranked third in the list.
With floor prices crashing, long-term investors have started to offload these once-coveted collections in a jiffy. Azuki was also the second-most traded NFT in the last 30 days.The Azuki contagion engulfed other blue-chip NFT collections as well. As per data from
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Azuki’s attempt at recouping plunged prices insteadPlans to keep Azuki as a top collection to watch had the opposite effect with the launch of Elementals. Here are the whys and hows of it all.
Read more »
Will Filecoin reach $100? ChatGPT predicts…The number of active deals by Filecoin grew by 64% (QoQ). Storage utilization was up by 4% in Q2 compared to Q1. The network also reported a 91% increase in revenue generated.
Read more »
How Polygon’s zkEVM and NFTs are shaping the ecosystemOne Planet, an NFT marketplace, has hinted that it will soon launch on Polygon 2.0. zkEVM’s daily transactions have also reached a new all-time high.
Read more »
CryptoPunks witnesses 60% decline in 7 days, but all’s not lostDespite recent declines, CryptoPunks stands strong as the top blue-chip NFT, boasting a record-breaking market cap of $1.9 billion and reaffirming NFTs' lasting significance.
Read more »
AI plagiarism hits the workplace, creating new hazards for employersKPMG survey found about a quarter of Canadian generative AI users have inputted company information into tools such as ChatGPT
Read more »
Girl Faces Unexpected Burst Of Laughter From Her Mean Grandpa Who Asked For Unpeeled PotatoesLittle girl expects her grandpa to explode after malicious compliance to his order while cooking together, he surprises her with burst of laughter.
Read more »