Why Envoy will play an important role in NFT adoption for Millions of users

Posted 42 mins ago | by Catoshi Nakamoto

Since the surge in popularity the NFT space has never looked back, daily more than 50+ projects are getting launched, spread over multiple marketplaces. It’s undeniable that this trend will keep moving upwards since the big brands are just starting to discover the Metaverse and NFTs.

All these platforms and NFTs are now scattered all over the place and it’s really hard to centralize your collection and show it to your audience in a curated way.

This is where Envoy comes in with its Showcase, Collect and Earn platform.

Millions of new users will flow into this exciting space through digital galleries

It is important to understand that new users have a hard time to explore existing collections from their favorite artists, celebrities or brands. Fans are used to just looking at Instagram or any other social media platform and feel trusted with the content that is being presented. With NFTs, there is still no easy way to do this.

Envoy will focus on building an API that connects all possible integrations needed to showcase an entire collection in one place on a single platform.

This will open the flood gates for new users to explore the NFT space through their favorite brand, artist or friends.

Target verticals and their billions of daily users

• Social media
• Wallets
• Marketplaces
• Content management systems
• Protocols
• Metaverse

NFT Adoption curve 2017–2021

NFT trading activity more than doubled between July and August 2021, according to the number of unique wallets that either bought or sold an NFT. By August 2021, there were roughly 280,000 unique buyers or sellers — the source does not distinguish between the two — after a growth of 185,000 unique wallets. This makes August 2021 the third moment of sudden growth in the nascent NFT market, after December 2017 and March 2021.

The first moment, in 2017, was connected to the popularity of collectible CryptoKitties whereas the second moment, in March 2021, had to do with media reporting the largest NFT sales to date. Activity in August 2021 was likely caused by sales in Axie Infinity, an NFT game that got so popular in Southeast Asia it even attracted the attention of the Philippine government.

Source: https://www.statista.com/statistics/1266322/nft-user-number/

Number of unique wallets that either bought or sold an NFT asset worldwide from June 2017 to November 2021

Source: https://www.statista.com/statistics/1266322/nft-user-number/

Room for exponential growth

• Social media users: 13 Billion (6 Billion DAU)
• NFT wallet holders: 600 Million

This is roughly 0.005% of all Social Media users and 0.010% of all Daily Active Users, let that sink in for a minute.

Image for illustrative purposes only

The ‘Linktree’ for NFTs with an integrated Social Layer for NFT Collectors

Envoy will be the bridge between traditional platforms and the NFT space by allowing users to explore and enter the space without using search engines.

By simply using your Envoy profile in bio you can showcase NFTs and still keep the functionalities of Linktree.

Try it out: https://envoy.art

Join our community!

The whole Envoy Team is looking forward to its journey together with the community, and bring the company to the next level. The only way is up!

Telegram Community: https://t.me/envoynetwork
Telegram Announcements: https://t.me/envoynetwork
Discord: https://discord.gg/envoy
Twitter: https://twitter.com/envoynetwork
Website: https://www.envoy.art

Original article published on Envoy’s Medium.

Source: https://thebittimes.com/why-envoy-will-play-an-important-role-in-nft-adoption-for-millions-of-users-tbt8870.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: Cryptocurrency News

Post by: TheBitTimes.com