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In a big gust of latest developments, Magic Eden, a famend decentralized NFT market, garnered noteworthy consideration throughout the worldwide digital property realm because the gross sales recorded on the platform hit $50 million, per a publish shared by the corporate’s CEO and co-founder, Jack Lu. This monumental achievement for Magic Eden quickly piqued the curiosity of NFT merchants and buyers globally because the variety of gross sales registered underscores the group’s optimism orbiting the potential revival of the NFT realm.

Amidst the excessive wave of optimism portrayed by the group, rides one other phenomenal occasion marking the sale of $16 million value of an NFT, CryptoPunk 3100. Sold for a whopping 4,500 ETH just lately, this seems to be curating an optimistic ripple impact, birthing speculations over NFTs’ potential comeback amid this yr’s crypto market bull run.

Magic Eden Mirrors NFT Optimism

According to the publish shared by Jack Lu, the platform’s latest scaling of the $50 million gross sales mark mirrors excessive hopes for the worldwide NFT group because it showcases the gradual but vital progress witnessed by NFTs over the previous few years. This marks a noteworthy occasion for the digital property panorama because the NFT market quickly witnessed a exceptional droop following its inception.

Concerning this, Jack Lu acknowledged that each one nice applied sciences begin off wanting like toys however finally develop into revolutionary tech that modifications the world.

Meanwhile, in his social media publish, Lu spotlighted Tiexo’s (an NFT information analytics platform) prime marketplaces record, drawing consideration to Magic Eden topping the record with 47.64% market share, evaluated as $52.24 million.

While the platform retained its positioning as of press time, its market share dropped to 34.15%, fueling speculations over future shifts.

Notably, Tiexo’s record additionally sheds mild on the second-largest CryptoPunk sale recorded, mirroring the optimism orbiting this burgeoning NFT adoption saga.

Also Read: Cardano (ADA) Price Gearing for 2000% Gains to $10 As Per Historical Chart

CryptoPunk Sale: Diving Deep

According to Etherscan’s data, the handle …C984017 purchased Punk 3100 for 4,500 ETH yesterday, March 4, nabbing vital consideration. This marks the second-largest sale of the blue-chip NFT assortment, as Punk 3100 is one among 9 uncommon bluish alien punks.

Upon additional investigation, it was discovered that the identical handle purchased two different crypto punks for 4,250 every over the previous few days. This propelled immense optimism all through the worldwide NFT group because it hinted at potential possibilities of revival amid the upcoming crypto market bull run, with NFT bulls coming into the world as soon as once more.

Also Read: US SEC Files Coinbase Insider Case as Supplemental Authority in Binance Suit

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