Bear Market Survival Guide: MNNT Breaks Trend with Great NFT Sales

UTC by Benjamin Godfrey · 3 min read
Bear Market Survival Guide: MNNT Breaks Trend with Great NFT Sales
Photo: Unsplash

The success of MNNT and the Andrometa metaverse is fueled by a number of factors including its multi-chain support, and ecosystem interoperability.

The digital currency ecosystem has been experiencing an economic downtime, or a bear market for some time now. This downtime was ushered in with the invasion of Ukraine by Russia as this move cratered the global economic outlook, further triggering the crypto industry.

The digital currency industry consists of several components: the Non-Fungible Token (NFTs) ecosystem. In the wake of the current onslaught on the market, the NFT space is even cringing more than the broader market. The past year has seen a consistent slump in the average weekly trading volume of NFTs, with the volume dropping from over a billion dollars to $50 million.

The past year has introduced a lot of inconsistencies into the NFT world. One of these is the increasing rate of cybercrime, born out of the inexperienced nature of users who continually fall prey to exploiters. From hacking to rug pulls and the backing of projects without fundamentals, the NFT world has turned into a clown of its own, further complementing the economic-induced meltdown.

Despite these negative trends, the NFT world has continued to record impressive milestones from a few innovative protocols in the space. While many focuses on the most media publicized Blue Chip NFTs, developers like MNNT have also recorded some of the most impressive milestones helping to keep the integrity of the NFT space today.

MNNT and the Resilience in the Bear Market

With many projects making their way into the NFT and broader metaverse world for a cash grab, it has been relatively easy for developers like MNNT to stand out in the bear market.

MNNT is the brain behind the Andrometa metaverse, a blockchain-powered world that features the We Are The Outkast and Seven Eve NFT collections. When the startup launched We Are The Outkast back in the Autumn of last year, the collection sold out completely. The uniqueness of MNNT’s projects was also showcased in the Sevens Eve NFT collection that was released this past April.

The release came at a time when the economic outlook was already making investors stay cautious of anything blockchain related. The launch of Sevens Eve was accompanied by an 80% sell rate, a comparatively successful sale when compared to the market conditions.

“We believe in making games that are direct competitors to games produced by traditional game studios in both quality and photorealistic graphics. That’s the only way for Web 3.0 to grow and we can already see that more and more developers realize that,” said Michael Christine, the CEO of MNNT.

The success of MNNT and the Andrometa metaverse is fueled by a number of factors including its multi-chain support, and ecosystem interoperability. The NFT assets in the MNNT metaverse can be used across different games within and beyond the metaverse, giving users ample flexibility and increased use case for their in-game assets.

MNNT has placed a lot of emphasis on creating a metaverse and accompanying collections that have good graphics, are thrilling, and have good earning potential. This has contributed in no small measure to its success overall.

Blockchain News, Cryptocurrency news, News
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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