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"Data from OpenSea suggests that 73.1% of NFT assets had only one transaction in the past 90 days. Furthermore, daily sales data from Nonfungible suggests a decline from a high of 138K (8/30/21) to 42K (9/21/21).
This is quite concerning for NFT collectors, especially in a market with highly speculative purchases and transactions. With the success of CryptoPunks, many investors were jumping into the next NFT project hoping it was a 100x trade. But most projects are highly illiquid and many have lost most of their value. Without legitimate backing or roadmap in place, many projects seemed like quick cash grabs. This is shown in the fact that 3% of NFT Collections made up 97% of all dollar value transactions. Blue-chip names seem to be holding their value, but the broader NFT market may cool for now."
-Harsharn Singh, Investment Associate @ Ember Fund
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November 21, 2022
Welcome to the October 2022 Recap Newsletter! We hope everyone is safe & sound. Despite November being one of the wilder months in a while (given all the news), last month was a strong one for crypto.
November 16, 2022
The Ember team is proud to announce the launch of our latest investing feature: Recurring Deposits
November 15, 2022
With all the news around FTX, we felt it would be helpful to run through what non-custodial wallets are and why they’re important.