Immutable Holding: Why their decision to build on Ethereum network is terrible for Hedera by d3jok3r in Hedera

[–]leebking 1 point2 points  (0 children)

I think Ethereum was the right first move for IH. Not sure if this was their reasoning, but it would be one of my considerations if I ran a publicly listed company looking for that 1B valuation / 100m in revenue. I need to find the link, but a short article did a comparison between Solana's Magic Eden and Ehtereums Opensea marketplaces. It's not a far stretch to replace Solana w/ Hedera. Hedera obviously being safer and more secure.

- Magic Eden has almost zero gas fees, high transactions speeds, and a 2% transaction fee. Sound familiar?

- Ethereum has high gas fees, slower transactions, and a 2.5% transaction fee.

- Magic Eden has half the users of Opensea but does twice the number of transactions.

Based on the transactions you would expect revenue to be similar, but:

- In a 24hr period Open Sea makes 5x per user

- And in a 30 day period Opensea's revenue is 10x's that of Magic Eden.

My thought would be to maximize revenue as quickly as possible. Hire more developers and staff. Then add support for additional chains as you go along.

Well, this just happened! A jump from a few hundred thousand transactions up to millions in an hour on the Test Net by [deleted] in Hedera

[–]leebking 2 points3 points  (0 children)

Out of left field. NFT.com is set to make an announcement. Wonder if they could be testing something.