During this turbulent quarter, the NFTs sector experienced a massive activity spike as new users joined the NFT community for the first time. These last three months, we have seen the mainstream media place NFTs on a pedestal, giving the industry excellent visibility, but also encouraging ink to flow, giving rise to new artists and projects.

All indicators are green

Whether compared to last year or the previous quarter, more dollars have been traded, the number of buyers and sellers have increased, and the number of active weekly wallets has increased. This trend is part of a strong growth for both the NFTs sector and the crypto sector since September 2020.

Market Distribution

Despite the USD volume being lower than at the beginning of the quarter, the sales volume saw a sharp increase. The collectible segment largely dominates the market in this quarter. The explosion in USD volume in May was mainly due to the launch of larvalabs’ Meebits project. Out of all the sectors, the utility sector is the one that has evolved the most over the last three months. As these NFT use cases are not very widespread, we carefully consider this signal could become a trend.