I’ve recently been exploring the evolving market microstructure around NFTs, and a recent discussion on the merits of platforms like Sudoswap has highlighted some of the inherent tension between the current NFT audience and the future of the asset class. There is a massive wave of platforms coming that bring more robust market structure oriented towards traders to NFTs, and soon, other esoteric assets. The evolution of NFT market structure provides a helpful understanding of where all markets are trending, over time, as a result of technology innovation and new models for financialization.