Problem Statement

According to data on NFTGO.io, there are an estimated 3,705,064 NFT holders across major NFT marketplaces worldwide, 2,429,507 (65%) of these holders are primarily traders, while the rest could be investors/collectors.

1,297,797 of the aforementioned “holder” figures are viable NFT sellers while 1,987,229 are all-time NFT buyers. You can see that buyers outrun the sellers. The reason could be due to the wash trades practiced on many insecure and unaudited NFT marketplaces.

NFT adoption rate keeps soaring. Even blue-chip NFT projects are becoming prominent since the introduction of utility NFTs. There are a lot of things to be imagined in the future about NFTs. Yet, there is a limitation that stands in the way: many NFT marketplaces do not meet up to the current market standards—liquidity and security-wise.

OpenSea, the leading NFT marketplace, has faced severe criticisms lately over its poor policies which have led to the loss of users’ assets. Although new and better marketplaces are emerging, many have faced one limitation or the other, including insecurity, blockchain sameness, lack of diversification, and so forth.