
ROLLUP: Visa buys a CryptoPunk | Budweiser Beer. ETH | NFT Mania | Michael Saylor Bitcoin | EIP1559
Bankless
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The Rise of ETH and NFT Dynamics
This chapter explores the burning of over a hundred thousand ETH due to EIP-1559 and emphasizes the role of NFT trading, particularly on OpenSea, in driving economic activity within the Ethereum ecosystem. It discusses the high gas fees of NFT transactions and the significant transaction volume on OpenSea, likening its success to earlier DeFi booms, while addressing skepticism regarding illicit activities. Additionally, the chapter highlights the evolution of metrics to assess Web3 platforms and the implications of privacy protocols on individual rights in financial transactions.
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