2022 has been a challenging year for the NFT sector. 🐻 But while trading volumes have plummeted, all while dragging down the value of top-tier NFTs, it hasn't all been bad news.😉
SeptemberAfter years of delay, the Ethereum Merge finally happened on Sept. 15. It switched the No. 2 blockchain — and far and away No. 1 smart contract blockchain — over to a much more environmentally friendly Proof-of-Stake consensus mechanism.
Questions of what's appropriate arose in a segment of crypto not really known for tastefulness arose when some anti-NFTcomplained about his estate's plans to release a collection celebrating his life — despite plans to donate 100% of the proceeds to charity, making the standard cash-grab complaint moot. That latter criticism certainly did apply to the dozens of unapproved NFTs released following the, some with titles like "RIP The Queen.
After some DeFi marketplaces began refusing to collect them unless the seller specifically requested paying it, a number of leading, mainstream marketplaces followed suit — saying they didn't like it, but were losing too much market share. Magic Eden and LooksRare succumbed in October, following X2Y2, which dropped royalties in August.
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