Reports have indicated that the crypto market’s winter is still ongoing, leading to SuperRare, an NFT marketplace, to reduce its personnel by 30%. The company’s CEO, John Crain, stated that the staff had been over-expanded during the preceding bull market.
Trading is becoming more and more challenging during the bear market, so an NFT platform is trying to lessen the burden on dealers and give them a better view on the methods of prosperous collectors.
In a statement that was sent to Cointelegraph, NFT platform Upshot revealed that it has introduced Upshot GMI, a system that evaluates and classifies wallets according to their NFT trading results. GMI stands for “gonna make it”, taking its cue from crypto slang WAGMI, and looks at data from the blockchain to work out which wallets have the best chance of succeeding.
Nick Emmons, CEO of Upshot, said the index evaluates wallets by considering the gains made and unrealized, the number of transactions done, the volume, the NFTs and premium NFTs held, and the age of the wallet.
The team stated the new feature could help traders identify which wallets to copy in terms of trading strategies. In addition, the team also said the tool could potentially help lenders decide if they should give out a loan to a particular wallet address.
On top of that, as the metaverse continues to grow, smell and touch are the next big things to be integrated into virtual reality (VR). At CES 2023, several firms that specialize in metaverse showed off their products which add new touches to the VR experience that give users a sense of smell and touch.
Separately, as the crypto winter continues, NFT marketplace SuperRare made the announcement that it was laying off 30% of its staff.
The firm’s CEO John Crain remarked that they had hired too many people during the previous bull run.