RIP Ethereum NFTs? Hyperliquid at least already dug the first shovel of dirt. We're witnessing more than just a shift in fee generation. We're seeing a cultural exodus from the hallowed halls of Ethereum's NFT kingdom.

Did Trading Kill the Art Star?

Let's be real. When the NFT space first emerged, the initial opportunities focused on empowering artists and fostering community. At some point along the way, it stopped being about the art and started being about the flipping. When the flipping gets congested and costly (cough, Ethereum, cough), folks start seeking out greener pastures.

Hyperliquid offers one of the fastest speeds on the market and a super high leverage of 50x. It’s the Ferrari of crypto, blowing Ethereum’s rusty old minivan off the line. Ethereum has the highest total value locked (TVL) in its smart contracts at $46 billion and counting. Hyperliquid is beating this giant’s daily fees, grossing an astonishing $627.27 million. We’re looking at $1 million for Hyperliquid compared with just $300,000 for Ethereum in an average 24-hour period. Ouch.

Remember that Drakeposting meme? It's time for an NFT edition. Drake turning down Ethereum NFTs (too slow, too expensive) and fully embracing Hyperliquid trading (speed, profits!

Airdrops Speak Louder than Art

NFTs on Ethereum’s chain are propped up entirely by hopium and the distant dream of hitting it big. Hyperliquid’s immediate success has been driven by airdrops and the tangible prospect of hitting…er, winning…well, more gold. The platform recently kicked off the world’s largest airdrop of 310 million HYPE tokens — valued at an astounding $7.6 billion — to over 94,000 users. This decision wasn’t just for show or buzz; it actually took a deep shot at the establishment.

  • Ethereum: Hope for appreciation in value.
  • Hyperliquid: Get free tokens, ape into high-leverage trades, and pray you don't get rekt.

Which of these is going to sound more enticing to the average crypto degen. I think we know the answer.

Is Ethereum Becoming a Digital Dinosaur?

Ethereum’s Dencun upgrade, designed to increase scalability, accidentally kneecapped its own fee revenue. It’s the blockchain equivalent of crypto-optimizing shooting yourself in the foot. In the meantime, Hyperliquid is creating a “Solana on EVM” with HyperEVM, an ultra-fast and efficient decentralized ecosystem. They’re just not building a DEX, they’re building an entirely different internet.

Ethereum's NFT community, built on perceived scarcity and cultural significance, is facing a harsh reality: speed and efficiency matter. The cultural center of gravity is shifting. The kids are alright and they’re trading on Hyperliquid.

Can Ethereum NFTs do more than they currently are? Or will they be cursed to stay in the land of digital dinosaurs, reminding of a bygone age with gas fees exceeding your grandmother’s hypertension? Only time will tell, but at the moment, Hyperliquid is shaping up to be the asteroid.