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From the case of Dookey Dash, we get to peek at some of the trends that may be happening in Web3, and also see the possibility of NFT arcade games being showcased in Web3.
Over the past year, we have seen many new changes in the NFT space. NFTGo Research has teamed up with well-known researchers and NFT degens to co-write a 100-page report that includes macro and micro data trends, user profiles, whale trends, and outlook for 2023.
The world of NFTs does not revolve only around art and collectibles. It spans across various categories, and each NFT undertakes a value based on a multitude of things.
A common misconception that people might have is that their NFT’s metadata is stored on the blockchain. This is true for some NFTs like CryptoPunks but it’s not best practice. On-chain metadata is highly gas-intensive and can cause even hundreds of dollars.
Wash trading or "painting the tape" is a form of market manipulation whereby market players attempt to influence the price of a security by buying and selling amongst themselves to create the appearance of substantial trading activity.
One of the biggest issues that web3 has faced thus far is onboarding people from Web2 to Web3. The recent release of NFTs from Reddit has done an excellent job of this. Let's take a look at the success of Reddit Collectible Avatar NFTs and how they managed to successfully integrate people from Web2 to Web3.
The NFT mint stage is a mandatory part of most project offerings. There are a series of pre-mint warm-up or community events where people can get to know the collection better and become early partakers in the community.
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