Flip’s NFT game for bear-hit traders
Trading platform Flip’s latest venture is meant to bring cheer to NFT traders who lost real money amid the crypto market’s downturn. Traders can now bet fake money on JPEGs via a fantasy sports-like game being created by Flip. The game is now live on the Flip website. Platform co-founder Brian Krosgard announced the launch […]
The post Flip’s launches NFT game for bear-hit traders appeared first on CoinSwitch.
The latest venture from the Flip trading platform is intended to cheer up NFT traders who lost real money during the cryptocurrency market crisis. Traders can now wager fake money in JPEG files through a fantasy sports game created by Flip. The game is now available on the Flip website.
The co-founder of the platform, Brian Krosgard, announced the release of this game called NFT Fantasy League on October 2, 2022. The announcement was made by Krogsgard through his Twitter account, Ledgerstatus.
With the new game, anyone can create a fake wallet and use it to engage in NFT trading without spending real money. Registered players can pretend NFT and those with the performance of the most simulated portfolio will win prizes.
The platform aims to provide fun in the middle of bears and for the benefit of those who do not have enough ether to spend in large swept, but still want to enjoy Jpegs, Krogsgard said to Coindesk. The development opens the doors of the NFT market to a much wider audience.
NFT in 2022 and Flip
The NFT space has plummeted into a downward spiral after much hype in 2021. NFT trading volume has dropped nearly 97% from its January peak this year, according to data from Dune Analytics.
Additionally, some of the more expensive NFTs have started to lose value. Earlier this year, for example, in April 2022, news came that one of the most expensive NFTs in the world, created by Twitter founder Jack Dorsey’s first tweet, was available for just $ 14,000.
However, the bear market hasn’t dampened the mood of Flip founder Krogsgard, who says he is “very excited” about the future of NFTs. While NFT volumes have dropped significantly, interest is high, Krogsgard says. In fact, Flip launched in the middle of the NFT winter in April 2022.
Although NFT trading volumes are low, interest from NFT traders remains high, Krogsgard added. There are 36% more NFT traders than a year ago, according to a report by DappRadar.
Flip’s Post launches NFT game for bear-stricken traders first appeared on CoinSwitch.
