Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Ripple – XRP spot ETFs can be ‘only a matter of time’

2025-05-20

XRP -Price will still gather here, crypto -veteran Raoul Pal predicts

2025-05-20

Dogecoin graphy too good to ignore, says Trader Eying Double

2025-05-20
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

    2025-05-20

    BSCS Backs Backs AI-conducted shopping assistant in collaboration with Pulsebot AI

    2025-05-20

    Basic, BNB chain, Ethereum and others

    2025-05-20

    What are tokenized real-world assets? Put physical value on the chain with RWAS

    2025-05-20

    Basic kit transactions rise as DEX volume approaches $ 400 billion milestone

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP -Price will still gather here, crypto -veteran Raoul Pal predicts

    2025-05-20

    Milei closes Libra Task Force and investigates ties with its administration

    2025-05-20

    Ethereum -price flashes bullish signal, but can it flow through obstacles?

    2025-05-20

    XRP Price Eyes Winins, but technically suggests that upsides can be limited

    2025-05-20

    Bitcoin still cannot close daily candle above $ 106k after 8 failed attempts in 2025

    2025-05-20
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»NFTs need to be about connecting creators with collectors, says Magic Eden’s Huang
NFT

NFTs need to be about connecting creators with collectors, says Magic Eden’s Huang

2023-08-24No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Tiffany Huang asserts that Solana’s “superpower” is its transaction capacity, attributed to low transaction costs and high speeds.

But, Huang asks, how does this advantage translate into real-world applications? More importantly, she asks, “Why does someone outside of crypto care?”

On the Lightspeed podcast (Spotify/Apple), the Magic Eden general manager says the NFT narrative needs to change. Rather than being driven by speculation and technology, the narrative should be driven by use case, she says, with a greater emphasis on “collectible moments” and the ability to foster connections between creators and collectors.

Magic Eden, the most visited NFT exchange powered by the Solana network, brings a “highly engaged set of users that are very real and proven over time,” Huang says. According to Huang, the exchange powered “ten times the number of transactions as Opensea” in 2022, with average session lengths of 14 minutes — one and a half times longer than average user sessions on TikTok.

Huang sees NFTs achieving broader appeal as collectible moments, used by creators to gain a better understanding of their collectors. “This is a problem that exists in Web2,” she says. “You cannot distinguish who is watching your content versus who would actually spend money on your content.”

“You can’t distinguish your fans from your super fans,” she says. The exchange’s distribution capacity and ability to gain detailed knowledge about their users gives it distinct advantages in this regard, Huang says. “That’s where I think there are really interesting things that Magic Eden can start to play with.”

See also  MetaWorks sells rights to the first NFT as a movie

Making friends with PFPs

While the 10K PFP collection is now generally considered a tired format, it’s the “only use case that has worked so far,” says Magic Eden co-founder Zhuoxun Yin. “There needs to be a bunch of other creator types that have to come in and try things for NFTs,” he says.

Yin reflects on post-ICO declarations that ERC-20 tokens were “dead,” noting that many new form factors based on the tech emerged during market doldrums such as governance models, token incentives and DeFi. “All that stuff came after people were labeling tokens as dead.”

“People oftentimes forget this universal truth,” Huang adds, “the current iteration of NFTs really popped off during the pandemic because people wanted to make friends.”

“That’s the reason why NFTs are different from fungibles,” she says. “They’re inherently emotional.”

“NFTs will continue to be a way for people to connect and form deeper relationships,” she says. “I just don’t know if the 10K PFP supply is going to be the thing that brings back the next bull.”

Internet level access for anything

“We should lean into the things that make the properties of NFTs really interesting,” Yin says. “All we’ve really done is we’ve pointed NFTs to images, basically.”

“You can make a lot of these things programmable in many ways,” he adds. “Barely anyone has touched that surface area.”

Yin is intrigued by the ability of NFTs to “spin up internet level access for anything.”

“It’s no longer confined to things that are physically possible,” he explains. “You suddenly have internet level scale for anything that you do with NFTs.”

See also  OnChainMonkey Spends Over $1 Million to Migrate NFTs to Bitcoin

“That is what makes this design space the most interesting of all of crypto.”

Source link

collectors Connecting Creators Edens Huang Magic NFTs
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Guild of Guardians leads with a huge volume of $ 796.62k

2025-05-20

Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

2025-05-19

The most popular collections of the moment on blockchain

2025-05-18

Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

2025-05-17
Add A Comment

Comments are closed.

Top Posts

Aura Blockchain enters the luxury furniture sector with Poltrona Frau and Savio Firmino

2024-10-16

Crypto Markets Desperately Need New Stories to Drive Prices Higher (A Little)

2024-05-13

Web3 Social is a ticking time bomb, and Zuck’s ‘Threads’ app proves it…

2023-07-11
Editors Picks

Hedera and EDF electrify the future of renewable energy certificates

2023-12-01

Kraken, a16z executives in the running for CFTC chairman role

2025-01-08

IRS clarifies rules on crypto staking rewards

2023-08-01

India’s flirtation with crypto ends in a win-win situation

2023-09-24
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Ripple – XRP spot ETFs can be ‘only a matter of time’

XRP -Price will still gather here, crypto -veteran Raoul Pal predicts

Dogecoin graphy too good to ignore, says Trader Eying Double

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,909.161.32%
  • ethereumEthereum(ETH)$2,525.05-0.03%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.36-0.85%
  • binancecoinBNB(BNB)$651.770.24%
  • solanaSolana(SOL)$168.841.33%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2265271.27%
  • cardanoCardano(ADA)$0.750.69%
  • tronTRON(TRX)$0.2687450.82%
  • suiSui(SUI)$3.871.23%
  • chainlinkChainlink(LINK)$15.74-0.03%
  • avalanche-2Avalanche(AVAX)$22.662.18%
  • stellarStellar(XLM)$0.2878690.68%
  • hyperliquidHyperliquid(HYPE)$26.47-0.50%
  • shiba-inuShiba Inu(SHIB)$0.0000150.46%
  • hedera-hashgraphHedera(HBAR)$0.1955251.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.761.69%
  • bitcoin-cashBitcoin Cash(BCH)$394.580.55%
  • the-open-networkToncoin(TON)$3.082.23%
  • polkadotPolkadot(DOT)$4.682.21%
  • litecoinLitecoin(LTC)$94.32-4.02%
  • moneroMonero(XMR)$350.022.14%
  • bitget-tokenBitget Token(BGB)$5.15-0.97%
  • pepePepe(PEPE)$0.000013-0.23%
  • piPi(PI)$0.764.02%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$258.484.72%
  • uniswapUniswap(UNI)$6.022.03%
  • bittensorBittensor(TAO)$416.721.81%
  • nearNEAR Protocol(NEAR)$2.822.31%
  • aptosAptos(APT)$5.15-0.74%
  • okbOKB(OKB)$52.27-0.18%
  • ondo-financeOndo(ONDO)$0.942.27%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.4813.19%
  • kaspaKaspa(KAS)$0.1105043.28%
  • internet-computerInternet Computer(ICP)$5.292.04%
  • ethereum-classicEthereum Classic(ETC)$18.460.20%
  • gatechain-tokenGateToken(GT)$21.540.03%
  • crypto-com-chainCronos(CRO)$0.0969171.23%
  • mantleMantle(MNT)$0.752.88%
  • vechainVeChain(VET)$0.0286072.51%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232378-0.10%
  • render-tokenRender(RENDER)$4.662.31%
  • ethenaEthena(ENA)$0.3789524.15%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • algorandAlgorand(ALGO)$0.2248031.49%
  • arbitrumArbitrum(ARB)$0.3944591.00%
  • filecoinFilecoin(FIL)$2.870.55%
  • bitcoinBitcoin(BTC)$106,909.161.32%
  • ethereumEthereum(ETH)$2,525.05-0.03%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.36-0.85%
  • binancecoinBNB(BNB)$651.770.24%
  • solanaSolana(SOL)$168.841.33%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2265271.27%
  • cardanoCardano(ADA)$0.750.69%
  • tronTRON(TRX)$0.2687450.82%
  • suiSui(SUI)$3.871.23%
  • chainlinkChainlink(LINK)$15.74-0.03%
  • avalanche-2Avalanche(AVAX)$22.662.18%
  • stellarStellar(XLM)$0.2878690.68%
  • hyperliquidHyperliquid(HYPE)$26.47-0.50%
  • shiba-inuShiba Inu(SHIB)$0.0000150.46%
  • hedera-hashgraphHedera(HBAR)$0.1955251.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.761.69%
  • bitcoin-cashBitcoin Cash(BCH)$394.580.55%
  • the-open-networkToncoin(TON)$3.082.23%
  • polkadotPolkadot(DOT)$4.682.21%
  • litecoinLitecoin(LTC)$94.32-4.02%
  • moneroMonero(XMR)$350.022.14%
  • bitget-tokenBitget Token(BGB)$5.15-0.97%
  • pepePepe(PEPE)$0.000013-0.23%
  • piPi(PI)$0.764.02%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$258.484.72%
  • uniswapUniswap(UNI)$6.022.03%
  • bittensorBittensor(TAO)$416.721.81%
  • nearNEAR Protocol(NEAR)$2.822.31%
  • aptosAptos(APT)$5.15-0.74%
  • okbOKB(OKB)$52.27-0.18%
  • ondo-financeOndo(ONDO)$0.942.27%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.4813.19%
  • kaspaKaspa(KAS)$0.1105043.28%
  • internet-computerInternet Computer(ICP)$5.292.04%
  • ethereum-classicEthereum Classic(ETC)$18.460.20%
  • gatechain-tokenGateToken(GT)$21.540.03%
  • crypto-com-chainCronos(CRO)$0.0969171.23%
  • mantleMantle(MNT)$0.752.88%
  • vechainVeChain(VET)$0.0286072.51%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232378-0.10%
  • render-tokenRender(RENDER)$4.662.31%
  • ethenaEthena(ENA)$0.3789524.15%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • algorandAlgorand(ALGO)$0.2248031.49%
  • arbitrumArbitrum(ARB)$0.3944591.00%
  • filecoinFilecoin(FIL)$2.870.55%