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On August 20th, Alibaba Group (09988.HK) released its financial report for the first quarter of fiscal year 2027. During the analyst conference call, CEO Wu Yongming stated that the surge in AI Agents has directly driven demand for tokens and GPU computing power, while also significantly boosting demand for traditional cloud products such as CPU computing power, storage, databases, and networks. Alibaba Cloud is undergoing a comprehensive upgrade to Agentic Cloud. According to the latest data in August, revenue from model and application services, including Maas, has exceeded RMB 16 billion. Based on current market feedback and contract orders, computing power demand will continue to exceed supply. With our continuous improvement in supply capacity, AI+cloud revenue growth will continue to accelerate in the coming quarters, and profitability will continue to improve.On August 20th, Alibaba Group (09988.HK) released its financial results for the first quarter of fiscal year 2027. During the analyst conference call, CEO Wu Yongming stated that AI has become the core engine for Alibaba Clouds accelerated growth. This quarter, the annualized revenue (ARR) of Alibabas AI-related products exceeded RMB 49.5 billion (US$7.3 billion), accounting for 35% of Alibaba Clouds external commercial revenue. The gross margin of AI-related products was significantly higher than the average level of cloud products.Alibaba (09988.HK): The revenue generated by artificial intelligence applications and model services has exceeded RMB 16 billion.On August 20th, according to a source familiar with the matter, Meta Platforms (META.O) spends hundreds of millions of dollars annually accessing AI models through Microsofts Azure cloud service. Meta uses trillions of tokens weekly through the platform. Both companies declined to comment. A key pillar of Microsofts AI strategy is its marketplace called Foundry, which offers models from multiple vendors and had 100,000 customers as of July. Customers from traditional industries such as manufacturing and transportation frequently appear in Microsofts promotional materials. However, according to the source, its largest AI customers are currently mostly other technology companies. ByteDance, Adobe, Perplexity, and AI startup Sierra are also major Microsoft clients. The source revealed that Meta is investing heavily in AI to assist its software development, purchasing model access through multiple platforms based on availability and cost. Metas developers have used OpenAI technology through Foundry to help evaluate the output of their own models.European natural gas prices have reached €65 per megawatt-hour for the first time since March.

Crypto Market Sell-off Delivers NFT Trading Volume Boost

Cory Russell

Apr 13, 2022 10:06


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The crypto market sell-off has aided the growth of OpenSea NFT trading volumes.


Trading volumes on OpenSea fell in February and March as the crypto market rose.


As more mainstream businesses join the NFT area, the prognosis for the NFT market remains positive.

NFTs and OpenSea had a strong start to 2022, with trade volumes reaching an all-time high in January. The upward trend provided a positive picture for the next year.


ETH trade volume reached $4.97 billion in January, according to Dune Analytics statistics. The previous all-time high for OpenSea came in August, when trade volume reached $3.42 billion.


However, the crypto market's recovery from late January lows to early April highs was underwhelming in February and March.


Conditions in the NFT market look to be improving, with the recent crypto market sell-off providing support.

Trading on OpenSea with ETH under $3,000

March saw $2.49bn in ETH-based NFT trading volumes, down from $4.97bn in January and $3.58bn in February.


ETH trading volume is at $1.30bn. A continuing ETH decline would encourage demand for NFTs, notwithstanding the lack of a straight line.


After a January low of $2,161, ETH hit $3,500 in April before slipping down to sub-$3,000. ETH has declined in 6 of 9 sessions, with ETH-based NFT trading on OpenSea returning to sub-$3,000.


Because NFT trade volumes for Polygon (MATIC) and Solana (SOL) are so small, ETH remains the major emphasis.


This month's active traders have risen. From 546,145 in January to 451,767 in March, active ETH-based NFT traders. This month, there were 281,546 active ETH-based NFT traders.


Active traders may reach January's all-time high, boosting OpenSea and NFTs.

Beyond ETH Value's Influence on Trading Volume

Competition, illegal conduct, new NFT launches, and regulatory scrutiny will all have an impact on OpenSea trading activity.


LooksRare (LOOKS) debuted in January this year, and Coinbase is ready to join the NFT field via CoinbaseNFT.


Acceptance of fiat money as a form of payment will be a last important driver for NFT transaction counts. Coinbase and Mastercard announced a cooperation at the start of the year that would enable mainstream payments for NFTs.


The ability to accept mainstream payments eliminates the need for potential NFT collectors to open digital wallets and acquire cryptocurrency under risky market circumstances. The move by Coinbase to accept Mastercard payments may drive other NFT markets to do the same.


The good news for the NFT industry is that major corporations are continuing to investigate and join the digital asset market. Investors will be watching how Solana-based NFTs work for OpenSea.


However, there are also downside concerns, such as illegal activities and increasing governmental supervision. Regulatory monitoring must be helpful rather than punishing in order to make the NFT market more accessible. The actions of regulators on NFTs may be connected to unlawful activities in the NFT sector.

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