NFT report for the third quarter shows that the markets are in a phase of dynamic, unstoppable growth-blockchain
NFT report for the third quarter shows that the markets are in a phase of dynamic, unstoppable growth-blockchain
non-fungable tokens (NFT) systems have been in great demand since the beginning of 2021, and the statistics of the third quarter have shown that the key indicators have increased further. Recently, Nonfungible.com has released its NFT quarterly report for the third quarter of 2021, which shows that active wallets have risen, the number of NFT buyers has increased and the number of sellers has grown faster than the number of buyers.
nft action increases in the third quarter
The NFT market campaigns in the third quarter of 2021 broke the previously recorded quarterly figures, since the NFT demand continues in the last months of the year. The researchers of the web portal Nonfungible.com have published a study that covers the third quarter of 2021, and data show that most indicators are growing. Active wallets, the number of wallets that interacted with an NFT smart contract, rose, for example, from 203,719 active wallets by 102.52 % to 412.578 in the third quarter.
The number of NFT buyers rose by 166.73% from 97,658 in the second quarter to 260,489 in the third quarter. The sellers rose from 40,056 to 122,910 and recorded a much greater increase of 206.84 %in the last quarter. The US dollar amount exchanged in NFTs was $ 782 million in the second quarter, but in the third quarter it rose sharply to $ 5.9 billion.
"During the USD trade volume, which was traded at an all-time high at the end of August, we saw another high in terms of active wallets," says the Q3 report from Nonfungible.com. "The weekly volume, which was almost $ 91 million a week, climbed to $ 1.674 billion within 2 months." The researchers from nonfungible.com add:
According to this high, we find that the weekly volume stabilizes at a level that is almost three times higher than its previous level, at around $ 300 million a week.
In terms of loyalty, NFT customers such as Metaverse-Nfts are the most loyal, followed by NFT collectors. Sports, play, art and useful nfts follow collectors regarding the NFT loyalty. Collectors recorded the greatest turnover with 76 % of sales, while 9 % of the turnover focused on art NFTs. Sport would be the least sold NFTS with only 1% of sales in the third quarter.
Q3 report shows that the "NFT market develops quickly and exponentially"
The largest NFT collectors project are cryptopunks and Bored Ape Yacht Club (BayC). With regard to collector NFTs, "the primary market share has more than doubled and accounts for 75 % of the total collector's market," said the study researchers. "This extremely high rate reflects the relative satiety of this segment: too many assets are spent on too little resale or at lower prices."
The researcher's report comes to the conclusion that the market develops quickly and "exponentially". The liquidity is unprecedented, but also "a speculative and volatile market than ever," explains the Q3 NFT report. "The recent growth of the NFT industry was almost unbelievable, in just a few months the billion dollar brand was exceeded for traded NFTs, followed by billions per quarter and only then by billions per month", not fun. Com study shows. The researchers continue to conclude:
If you believe the current numbers, the market is in a dynamic and unstoppable growth phase in which no shadows hide in the corners. However, reality looks a little different and we would like to make it clear that indicators such as the traded volume in USD or the number of trades are not the best key figures to observe the market because they only show the tip of the iceberg.
What do you think of the campaign to non -funny tokens (NFT) in the third quarter? Let us know your opinion on this topic in the comments below.
Photo credits : Shutterstock, Pixabay, wiki commons, nonfungible.com
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