The Fantasy League Game Will Allow Hounded NFT Traders To Relive The Mania

Non-fungible token (NFT) traders who have lost real money due to the market collapse this year can now try betting fake money on JPEGs using a fantasy sports-like system by building a fictitious portfolio using the NFT data and trading platform Flip.

In the brand-new NFT fantasy league, players can pretend to acquire NFTs, and those who perform the best in their simulated portfolios earn rewards.

“Fantasy Flip is a way to have fun in a bear market,” Flip co-founder Brian Krogsgard, who goes by Ledgerstatus on Twitter.

“Most of us are too poor to be spending the [ether] we have left on huge sweeps, but we still want that sweet adrenaline rush of flipping JPEGs. It’s fun for folks who want to participate in NFTs but can’t do so with big money.”

NFT trading volumes have fallen nearly 97%-Fantasy League Game

NFT trading volumes have fallen nearly 97% from this year’s January highs, according to data provider Dune Analytics. And many formerly high-flying JPEGs now fetch a pittance compared with their peak prices.

“We may be too poor to transact much in real life, but we still have the spirit for NFTs,” Krogsgard said.

However, a research from DappRadar indicates that there are 36% more NFT traders now than there were a year ago. NFT volumes are drastically down overall, although interest is still high, according to Krogsgard. “We’re still quite optimistic about the potential of NFTs,”

Flip, which was introduced in April 2022 in the midst of the NFT winter by Krogsgard and co-founders Sam Hotchkiss and Jennifer Jacobs, assists users in navigating the real-world, as opposed to hypothetical, NFT market by facilitating trading on multiple marketplaces and offering portfolio and wallet tracking.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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