There was an incredible insight Pacman had that spurred the creation of Blur, that he said in a podcast years ago.
He said that when he analyzed the flows of NFTs, a large majority of market participants were simply market making, reselling the things they buy for profit.
So he designed an NFT exchange built for MMs.
I looked into doing something like this for collectibles back in 2023, and I realized this dynamic is the *exact same* for IRL collectibles. Ebay, Stockx, whatever are majority people buying and reselling shoes or cards.
Then I saw how much these platforms are charging. It ranged from 15 to 30% per tx. Imagine trading shitcoins with this high of a fee.
The amazing thing with these new card products is that its bringing the efficiency of onchain markets to an industry that badly needs it, and then benefiting from the composability as well.
It feels like we're finally seeing the promises of 2017 come true.
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