NFTs Price Discovery and Liquidity problems.
James is stuck with his NFTs and no one wants to buy them from auction on BakerySwap!
The history of NFTs has shown that a very small percentage of NFTs stay relevant over time, with most NFTs losing their value after a few months. NFTs quickly become illiquid and therefore holder can't sell.
Many NFT Holders on Binance Smart Chain cant make swaps off their NFTs. NFT platforms on Binance Smart Chain include Battle Pets, Dego, PancakeSwap, and Bunks etc.
Despite the fact that the overall GMV of NFT transactions increased dramatically in 2020, the prospect of selling any personal NFT on the secondary market today remains grim.
Creators must either accept the highest bid received in a certain amount of time for their NFTs (possibly leaving money on the table) or wait indefinitely for liquidity before a bidder emerges who suits the ask.
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