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Silicon Valley Bank Collapse – Are NFTs Next?
The recent collapse of Silicon Valley Bank has sent shockwaves throughout the financial world, with many wondering about the fate of the assets held by its clients. One such client is Circle, which recently confirmed that $3.3 billion of its $USDC reserves were in the collapsed bank. The news has sparked concerns among the NFT community about what might happen if a similar situation were to occur in the booming NFT market. While one-to-one swapping of NFTs has emerged as an alternative to withdrawing or finding new buyers in real-time, there are still significant weaknesses in the existing system.
We’ll take a closer look at the situation and explore the potential implications for the NFT market.
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https://www.linkedin.com/posts/jeanhyperng_challenges-faced-by-centralized-nft-one-to-one-activity-7040275473481818112-RpsF?utm_source=share&utm_medium=member_desktop
