Blockchain is the technology used by cryptocurrencies to track, record, and timestamp their transactions. In 2009, Bitcoin was the first successful cryptocurrency built on the blockchain. Since then, a lot of innovative blockchain use cases have emerged.

Blockchain

Non-Fungible Tokens (NFTs), being certificates of authenticity, can be used to prove the ownership of any digital asset: concert tickets, video game items, artworks, or even digital properties. This section will help you to understand and explore the different ways you can use NFTs.

At NonFungible.com, we provide trusted NFT data and tools so that you can develop personal strategies that are best suited to your needs. This section will teach you how to use our Market Tracker to screen the latest NFT market trends and make informed decisions.

Analytics

Navigating through the NFT ecosystem requires separating signals from noise. Established in 2018, NonFungible.com has been a key stakeholder in the NFT industry since its infancy. Over time, we have developed a solid understanding of the way the NFT community works, backed by our trusted data &amp; experience.

Ecosystem

The bear market has largely impacted the NFT market. For the first time in the history of NFTs, trading-related activities are no longer profitable. Despite a complicated economic context, NFTs continue to surprise, and we observe some strong trends around Metaverses and Utilities over the period, which tends to revitalize the markets.

With speculation in a tailspin, it looks like the industry has once again entered a building phase, away from the spotlight.

A massive 25% drop was observed in terms of USD traded between Q1 and Q2 2022 with a global volume of about US$8 billion in Q2 2022.

A net profit of US$460M is recorded over Q2 2022, a significant decrease compared to Q1 2022 (US$2.3B).

Secondary market remains predominant with almost 80% of the volume of USD traded, in the meantime, primary market has constantly decreased over the period.

A 46% decrease in profit at resell is observed during the period, for a total loss that increased by 23% (US$1.8 billion profit for US$1.4 billion loss).

The market is more centralized than ever: More than 30% of the volume of USD traded over the quarter is distributed between projects that have been launched or acquired by Yuga Labs.

Q2 NFT Market Report 2022

<ol><li>The fundamentals</li><li>A look back at Q2 2022</li><li>Overall performance Q2 2022</li><li>Detailed performance (search volume, performance by segment, market distribution by project etc.)</li><li>Interview of John Karp from the Non Fungible Conference & NFT Factory</li><li>Profits & losses on the market (profit & loss per segment over time, most profitable projects etc.)</li><li>Focus by segment (key metrics about: crypto-art, collectibles, gaming, metaverses, utilities)</li><li>Conclusion</li></ol>

Quarterly NFT Market Report

The incredible enthusiasm for NFTs led to tremendous growth of the NFT industry in 2021. The early days of 2022 mark a new era for NFTs, with many changes to the market.
Are we facing a bubble on the verge of bursting? Are the NFTs markets holding up despite the tense geopolitical situation surrounding the war in Ukraine?
The Q1 Quarterly Report 2022 presents the first detailed figures on the reality of NFTs markets.
This quarter, we had the chance to interview Shaban Shaame, a pioneer of Blockchain Gaming since 2014, who shares his vision and thoughts on the state of the industry.

Collectibles are the predominant segment in the industry, far ahead of Art or even the Metaverses.

The general public seems to be losing interest in NFTs, if the search volume on Google is to be believed.

For the first time, some segments show a negative balance: Gaming shows a total loss of almost $50 million on the segment, which makes it the least profitable segment of the industry from a trading point of view.

The resale profit volume is down 3% while the total loss volume is up nearly 50% compared to the previous quarter.

Q1 Report 2022

With nearly $8 billion traded in the first quarter of 2022, the market cannot really be considered to have collapsed. We are seeing more of a form of stabilization, in line with the last quarter of 2021.
Conversely, the volume of sales fell by nearly 50%, with a very marked slowdown in the volume of buyers and sellers.
The great novelty of this quarter is undoubtedly the evolution of profitability in the markets. Making a profit in NFTs is no longer so easy in 2022...

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<p>In this article we will present how to analyze an NFT project before making the decision to mint.</p>



<p>it is essential to ask yourself the right questions before minting an NFT from any new project and to have the correct reflexes to protect yourself! Several key indicators should be taken into account: the team and roadmap, the community (Discord and Twitter), the scarcity and price, the technology and of course the underlying project (art and utility).</p>



<h2>The Team and the Roadmap</h2>



<h3>The Team&nbsp;</h3>



<p>The analysis of the team is an important point to consider. The first question to ask is: is the team anonymous, partially anonymous or completely known (doxxed)?</p>



<p>It is preferable that the team does not remain anonymous, i.e. that we know their names, ages, professional experiences, etc. as you are less likely to be confronted with certain risks (rug, soft rug, project dropouts, etc.) That being said, if the team is anonymous, as some successful projects have been, it&#8217;s not so surprising to find this in the web3.0 ecosystem.</p>



<p>If the team is doxxed, what do you need to know about their history? If you are able to assess their relevant past experience, questions worth asking are: is it related to the field of NFTs? Do they have any previous reputation in the field? The founders do not have to be famous, nevertheless , they should have some valid and relevant experience.</p>



<p>Finally, can we also assess the reputation of the team? For instance if a member has already been involved in a dubious project then this would be a serious red flag. On the contrary, if one of the founders has already been involved in a successful project, then that would be considered to be a very positive point.</p>



<h3>Roadmap</h3>



<p>It is important to look at the roadmap even if it is often simply a future vision for the project. The best policy is to favor original projects with a realistic vision. Also, you must be aware that the roadmap is rarely adheaded to in reality, as its content is based on a project&#8217;s future intentions rather than on a rigid structure.</p>



<p>On the other hand, you can evaluate the projected realistic approach of the roadmap in relation to the financial resources of the project. Another question, is the team competent enough to execute the plan and does the whole plan sound coherent to you?</p>



<h2><strong>Communities</strong>&nbsp;</h2>



<p>The analysis of the project&#8217;s social networks is a crucial element. The community aspect is very important in most NFT projects. However, we can cite as an exception purely artistic collections like generative art where this methodology is not always so accurate.</p>



<p>NFT projects use two main social media platforms: Twitter and Discord.&nbsp;</p>



<h3>Twitter&nbsp;</h3>



<p>It is important to look at the number of followers on Twitter, less than 10,000? More than 100 000? Be careful, the number of followers means absolutely nothing at first glance, you have to check if they are real, projects can easily buy fake followers.</p>



<p>An easy method is to look to see if the number of followers corresponds to the engagement on the account (likes, comments, retweets etc). So if the engagement rate looks strange then this should alert you. Ideally, the project shouldn’t have too many farmed followers with giveaways and whitelist contests (WL).</p>



<p>Another valuable point to consider on Twitter, is to look if recognized collectors are following the projects&nbsp; account. (for example Zeneca, <a href="https://twitter.com/punk6529" target="_blank" rel="noreferrer noopener">Punk6529</a>, Takoa, etc). Indeed, if whales have an eye on the project then it is often a positive point.&nbsp;However, that doesn&#8217;t necessarily mean that they approve of the project. They just have an interest.</p>



<h3>Discord&nbsp;</h3>



<p>In the NFT ecosystem, Discord is a must. Indeed, the majority of the projects open this type of social network to gather their community. Therefore, the number of members must be analyzed just like on Twitter. It is necessary to check if they are real or fake. The engagement on the posts and the activity of the members can be a good indicator..</p>



<p>It is also interesting to cross reference the number of followers on Twitter with the number of members on Discord to see if the two are consistent.&nbsp;</p>



<p>For both networks, it is important to pay attention to how these followers were obtained, is it really organic? For example, if you see invitation contests to get a WL then this can be a negative point. Indeed, there are more chances that the Discord is full of bots or multi-accounts.&nbsp;</p>



<h2>Rarity and price</h2>



<p>The number of NFTs and the price of the mint are two essential elements in an analysis. These two pieces of information cannot be bypassed by a project.</p>



<h3>Supply &amp; Rarity</h3>



<p>So, it is logical to ask how many NFTs will be offered. Less than 1000? Between 1000 and 5000? Between 5000 and 10,000? More than 10,000?</p>



<p>The lower the supply, the more likely it is that a supply shock can occur. But to correctly analyze this criterion, it is essential to put it in perspective with the interest of the project and the activity of the community. If a project offers 10,000 NFTs and has only 20 likes on Twitter the day of the NFT sale, the supply was probably too high to sell everything.</p>



<h3>Price</h3>



<p>The price is an unavoidable metric to take into account. Does it correspond to the usefulness or the hype of the collection? Is the price in line with market conditions?</p>



<p>At the end of 2021, price was not such an important criteria. On the contrary, it can become so in less euphoric market phases.&nbsp;</p>



<h3>Technology</h3>



<p>Which blockchains are <a href="https://nonfungible.com/news/utility/the-history-of-nfts-on-ethereum">NFTs based on Ethereum (ETH</a>), Solana (SOL, Tezos (XTZ)? The largest and most established ecosystem for NFTs is obviously Ethereum (ETH). We can also mention Tezos (XTZ) for generative art and even Solana (SOL).&nbsp;&nbsp;</p>



<p>You can also find NFTs on Polygon (Layer 2), Flow, Wax and other blockchains. However, <a href="https://research.cointelegraph.com/reports/preview/nonfungible-tokens-a-new-frontier" target="_blank" rel="noreferrer noopener">80% of the NFT market volume is concentrated on Ethereum</a> through several marketplaces (<a href="https://opensea.io/" target="_blank" rel="noreferrer noopener">OpenSea</a>, <a href="https://looksrare.org/" target="_blank" rel="noreferrer noopener">LooksRare</a>, etc). When you consider that volume largely defines price, this is something to take into account.</p>



<h3>Storage and on-chain generation of NFTs?</h3>



<p>The storage and the way your NFT is generated can affect its value and success. Indeed, your NFT can be on a decentralized blockchain, but if its metadata is stored off-chain then that part of the NFT will not benefit from the security of the blockchain.</p>



<p>The actual generation of the NFT and storage can be centralized, which means you are relying on a third party to hold the file. This can create a centralized point of failure. If the server does not maintain your files, the Universal Resource Identifier (URI) of your NFT will simply be a dead link.</p>



<p>Solutions such as InterPlanetary File System (IPFS) or <a href="https://www.arweave.org/" target="_blank" rel="noreferrer noopener">Arweave</a> offer a decentralized (and more secure) approach to data storage, which increases the security of your NFT image. Thus, it is recommended to take this aspect into account before minting. The more decentralized the storage and generation process is, the more valuable the NFT will be.&nbsp;</p>



<h2>The project: Art / Utility of the NFT</h2>



<p>There are many different use cases for NFTs, and you need to be clear about the nature of the project. Is it a purely artistic NFT? What exactly is the purpose of the NFT?</p>



<h3>Artistic NFTs</h3>



<p>If the NFT is a purely artistic project (via a curator like <a href="https://nonfungible.com/market-tracker/artblocks" target="_blank" rel="noreferrer noopener">Art Blocks</a> or Quantum for example), the usefulness of the NFT is irrelevant. You need to evaluate the reputation of the artist, the style and originality of the works.</p>



<p>Do you appreciate art? This is subjective of course, but try to identify current trends and investor preferences in NFTs.</p>



<h3>Utility NFTs</h3>



<p>It is of course important to understand the purpose of the NFT you are about to purchase. Indeed, Utility NFTs are much more than just digital collectibles. They offer their holders privileges, rights and rewards. You can find several types of utilities (non-exhaustive list):&nbsp;</p>



<ul><li>Profile Pictures: Images posted on social media that represent an online identity</li><li>Art &amp; Music: A more efficient and transparent way for artists to monetize their work.</li><li>In-Game Assets: Unique assets designed to be used in a game.</li><li>Membership: NFTs that allow access to a private community. Tools like Collab.land and Gnosis Safe are often used to verify that you own theNFT.</li><li>Virtual Worlds: Properties and lands that exist in the metaverse.&nbsp;</li></ul>



<h2>Conclusion</h2>



<p>Analyzing NFTs before minting is not an exact science. However, you can improve your chances by studying the key indicators above. It is important to think in terms of the number of red flags, if there are too many then probably best to skip it.&nbsp;</p>



<p>Obviously, research and thorough analysis can help you make the right decision. But experience may be your best bet.</p>


Nowadays, it has become really easy to mint an NFT but the traps are numerous and not always easy to identify. 

Due Diligence Before Minting an NFT


<h2>Who are you?</h2>



<p>Who am I&#8230;? Good question, I am first and foremost an entrepreneur. I like to create things without really knowing how to monetize them, but I like to create them. I began a startup 12 years ago called Food Reporter, then I created <a href="https://www.hackathon.com/" target="_blank" rel="noreferrer noopener">Bemyapp</a> (also known as <a href="https://www.hackathon.com/" target="_blank" rel="noreferrer noopener">hackathon.com</a>). It developed well, we had around a hundred customers such as Facebook, Intel, HP and others and we organized events in more than 50 countries.</p>



<p>I discovered crypto and blockchain a few years ago. We organized some events around blockchain but I wasn&#8217;t too into it. I bought Eth back then but didn&#8217;t really believe in it, then I discovered NFTs two years ago, and I took a slap! I bought a plot of land in Sandbox to organize events in the metaverse because I thought it was funny&#8230; and then I dug in and fell in love with the NFT &#8220;art&#8221; movement. I was lucky enough to witness the birth of a movement and I started collecting like crazy.</p>



<p>With my colleague Remi, we <a href="https://www.nftmorning.com/" target="_blank" rel="noreferrer noopener">created a live show on Clubhouse</a> to invite artists and entrepreneurs on a daily basis a week or two before the Beeple Hype. Basically, it was to explain the NFTs to Remi and it became a daily&#8230; and we did about 250 podcasts. In parallel we wrote a book and other things, always with the aim of democratizing NFTs.</p>



<p>To come back to the question, I would say that my goal is to federate. We organized meetups, small events and we embarked on the NFT Factory, always with the objective of bringing more and more people into NFTs and that the people who are in it can see each other.</p>



<h2>How did you come up with the idea for the Non Fungible Conference?</h2>



<p>It&#8217;s really the fusion of my two passions: NFTs on the one hand and events on the other. I was into NFTs and I participated in a lot of events around the world but I think I needed to make my interpretation of this world, to share my vision of NFTs. Because there were mostly Bitcoin or DeFi events&#8230; which is cool, but it&#8217;s not the same audience, the same passion.&nbsp; When I said I was in the NFTs, I was told &#8220;oh yeah it&#8217;s good it&#8217;s booming&#8221;. And for me I thought there was a problem. There are many events where I have noticed that most of the speakers have never minted any NFTs. That&#8217;s how I wanted to make a European event for people who know NFTs.</p>



<p>This is perhaps a somewhat radical positioning because I did not want to discover NFTs but to go to the level above. With a clear spirit to put art and artists at the heart of the processes. In 2021 we saw a lot of evolution, the big brands have put themselves on it, there are metaverses in all directions&#8230;but before the &#8220;industry&#8221; side, it&#8217;s really about putting artists at the center.</p>



<p>There are awesome metaverse projects, awesome PFP projects but for this event, it was putting art at the center of attention. Last October, I set up a small team to be able to set up the Non Fungible Conference in Lisbon a few months later.</p>



<h2>What is the biggest barrier for the mass adoption of NFTs?</h2>



<p>Honestly? There is no barrier anymore, we could talk about a technical barrier perhaps, but the main barrier today is psychological. To answer this problem of psychological barriers today and have mass adoption, a normal person might hear about it once, twice, four times &#8230; and is interested in it. Everyone, when they hear about NFTs today, thinks &#8220;it&#8217;s still weird to buy JPEGs&#8221;. Everyone went through this phase.</p>



<p>Depending on your mentality, your aversion to innovation or the trend of the world it will take more or less time for you to take an interest in it. So for me the only barrier is a time barrier.&nbsp; The only question is the faster we communicate and communicate strongly, the closer we get to this snowball effect that will allow mass adoption.</p>



<h2>How do you see NFTs in 5 years?</h2>



<p>In 5 years I think we will use the title &#8220;NFT&#8221; less. In 5 years, in the same way as the internet which is everywhere, NFTs will be everywhere. Today we use a smartphone, we use a TV, a computer, a whole series of things that depend on the internet without asking ourselves the question of whether the internet is there or not. To take an older example, it&#8217;s like electricity..</p>



<p>For me we are at that point. These are underlying technologies that make it possible to do a lot of things. You&#8217;re going to play video games, you won&#8217;t realize you&#8217;re activating, using or earning NFTs. You&#8217;re going to buy skins like that kind of thing you won&#8217;t realize that you&#8217;re going to buy goods like works of art&#8230; and during the transaction you will not realize that you are using an NFT when buying. I don&#8217;t know if it will be in 5, 7 or 10 years but we are moving towards a society where we might talk less about ‘NFTs’ but they will be just everywhere.&nbsp;</p>



<h2>Let&#8217;s go back to the NFT Factory, what are its objectives?</h2>



<p>The <a href="https://nftfactoryparis.com/" target="_blank" rel="noreferrer noopener">NFT Factory</a> is anchored in this evangelization process. When I wrote the book ‘NFT Revolution’, it was so that my father could use NFTs. The NFT Factory follows this same logic, from the outside you see an art gallery and then behind this very accessible and very simple to understand thing there is this NFT movement. The goal is that you can come in and get going with your first with very little training, a little onboarding and an understanding of what an NFT is. The goal is really to have a team of about fifty people to have a maximum referent of this universe.</p>



<p>The starting point is that we do not realize how far ahead France and even Europe is on this subject. Sandbox is one of the world leaders in the metaverse. Sorare in entertainment, Ledger in security, other companies that are not yet known, artists who are already known worldwide such as Pascal Boyart, Obvious, Allota Money&#8230; In the DeFi there are monsters that are French too.</p>



<p>If you project yourself in 5 years precisely, this kind of box will succeed GAFA. If you look at the history of GAFA, these boxes have HP and IBM who were the leaders in computing. And in my opinion, there are new leaders who will surpass the old leaders. It&#8217;s boxes, if you want them to work, the whole continent must wake up. Maybe it goes through politicians, maybe through journalists, but it goes mainly through people.</p>



<p>If tomorrow in France there are 40M wallets, which buy and exchange NFTs and well behind there is a market that journalists and politicians will follow. The goal is to start at the grassroots and take people from the bottom up to the NFTs. The more collectors, consumers, sensitized people, the more you will accelerate the snowball effect and welcome people into the ecosystem.</p>



<p>So the objectives in the NFT Factory in summary are:</p>



<ul><li>Evangelization</li><li>Formation</li><li>Event for the community and large groups</li></ul>


Is there a better way to finish the interviews that we conducted during the Non-Fungible Conference in Lisbon by its co-organizer, John Karp?

NFT Heroes #10: John Karp, Non-Fungible Conference & NFT Factory


<p>This article is designed to educate individuals on the different ways the LGBTQ+ community has established and grown in the NFT space. Keep in mind that while we did include quite a few LGBTQ+ projects on this list, there are still plenty out there for you to explore and discover on your own! </p>



<h2>Coca-Cola Pride</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" src="https://lh5.googleusercontent.com/Bh-oiR3LxKehaiL9GaWMFBBSmByKJV5bSTHCNLhydrmOeNMocNQQHurxddG-7mEfdHheCn953kO0u4WZJtEdj10yMOZvPn7PaFxzCPJvZ6PfwtyQRzBjLVj8hUmbBWtTXucaAmUggeVDmd5c1AKalA" alt="" width="840" height="267"/><figcaption><em><a href="https://www.coca-colacompany.com/news/pride-inspired-digital-collectibles-benefiting-lgbtqia-charities">Coca-Cola NFT Pride Series</a> &#8211; Photo by CocaCola&nbsp;</em></figcaption></figure>



<p>Launched on June 30th, 2022, Coca-Cola released its <a href="https://www.coca-colacompany.com/news/pride-inspired-digital-collectibles-benefiting-lgbtqia-charities" target="_blank" rel="noreferrer noopener">Pride Series</a>! A collection of 136 NFTs consisting of brightly colored rainbow versions of the company’s iconic glass bottles that were put up for auction and hosted on Polygon.</p>



<p>A fun and colorful way to celebrate Pride, the collection was created by award-winning designer and LGBTQ+ advocate Rich Minsi. Profits earned from the sale went directly to LGBTQ+ charities. While the sale only brought in $23,000 initially, a percentage of all future sales will be going to charity as well.&nbsp;</p>



<h2>The Decentraland Meta Pride Festival</h2>



<figure class="wp-block-image"><img src="https://lh6.googleusercontent.com/LItnYDShlxcznuyTQbi0bwJvBFnCHBR8CaiSErwn_uKDqYDkm0RK_0jqDlolL2yHiCQShTHGZuZte0kiWcIvkkPiKNk9h3qsLCh8jLiWxgfmpvycy1SXEOH050Lt-MZzZmh8Iu2btYbnhNfTCIa3VbI" alt=""/><figcaption><em>Images from <a href="https://www.metaprideland.com/nft-charity-collection" target="_blank" rel="noreferrer noopener">MetaPride Land</a></em></figcaption></figure>



<p>Big companies weren’t the only ones to get into the spirit of Pride. <a href="https://decentraland.org/blog/announcements/metaverse-pride-in-decentraland/" target="_blank" rel="noreferrer noopener">Decentraland hosted their own pride event that lasted for the whole of July</a>. DCL’s Festival Land District was transformed into a fully fledged Pride Parade complete with rainbow fountains, interactive pride floats, and plenty of areas for attendees to take selfies. The event promoted live performances and also offered free wearables to visitors. </p>



<p>Fashion brands such as <a href="https://www.originalpenguin.com/" target="_blank" rel="noreferrer noopener">Original Penguin</a>, popstar Thalia, guests and Web3 community members joined the festivities as speakers and entertainers. Attendees were invited to interact with the floats, join panels, parties, and more. In addition to events on the main festival grounds, teleporters were available sporadically across that allowed visitors to visit other locations holding events in <a href="https://nonfungible.com/market-tracker/decentraland" target="_blank" rel="noreferrer noopener">Decentraland</a>.</p>



<p>Between the booths, performances, and speakers, the event was designed to mimic a real-world Pride festival and provided opportunities for individuals who might not otherwise get the chance to attend or experience what Pride is all about.</p>



<figure class="wp-block-image"><img src="https://lh3.googleusercontent.com/bDae4IhxrevMd8PClafVWJhz3XoS44n2fx3Hqi15Pq4jO3IJ4V5w3kvsA3QeQrU2b_LVReW8zsGQSD_e6pdvdjy7F8lZAchmaieL3zckwyk844WUmzqo-7HpOVTda57MtzSJxQbl1BZcSvMd90cm4hU" alt=""/></figure>



<figure class="wp-block-image"><img src="https://lh5.googleusercontent.com/B7NCpcVZYoT-h0WAD53GCLjV0Lof4WzWn0EDgnd2ua9TGJ-3LRmdwE1hl9b58XRCv_7DNSdHehF3fxoXXR5WqXxeG2w0otgqjEmBgOTbUOorb60fD040sn3bqRLOQB3QysuV3g0fPIT12EnFWZslYPE" alt=""/></figure>



<p>MetaPride Festival &#8211; Decentraland</p>



<p><a href="https://www.metaprideland.com/" target="_blank" rel="noreferrer noopener">The MetaPride Festival</a> was described by its hosts as ‘the start of a modern movement’ The event was brought to life by <a href="https://www.jakeresnicow.com/" target="_blank" rel="noreferrer noopener">Jake Resnico</a> an event coordinator with experience bringing to life exciting festivals around the world, and Matt Stevenson, who previously worked for both <em>Time</em> and <em>Wired</em>. The event was meant to combine live entertainment with NFTs, bringing Christopher Street into the Metaverse. </p>



<p>The event was meant to act as a celebration of love and included live musical performances alongside moving speeches by empowering speakers. Special guests included Galantis, LP Giobbi, Ty Sunderland, and Blondish, among many others.&nbsp;</p>



<p>In addition to live entertainment, the event also hosted an NFT Charity Collection composed of unique creations designed by LGBTQ+ creators that were then auctioned off. All proceeds were donated to <a href="https://outrightinternational.org/" target="_blank" rel="noreferrer noopener">OutRight Action International</a>, which works to support global LGBTQ+ communities. </p>



<h2>The Queenly NFT</h2>



<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" width="600" height="582" src="http://100.96.1.66:3001/app/uploads/2022/08/queenly-nft.jpg" alt="queenly nft" class="wp-image-64664" srcset="http://100.96.1.66:3001/app/uploads/2022/08/queenly-nft.jpg 600w, http://100.96.1.66:3001/app/uploads/2022/08/queenly-nft-300x291.jpg 300w" sizes="(max-width: 600px) 100vw, 600px" /><figcaption><em>Image by <a href="https://www.queenlynft.com/home">Queenly NFT</a></em></figcaption></figure></div>



<p>Moving away from events and projects designed solely to take place during Pride Month, let’s take a moment to explore a project meant to support and promote queer creators year-round. Founded by NYC drag queen <a href="http://www.instagram.com/missrubypowers" target="_blank" rel="noreferrer noopener">Ruby Powers</a> (aka Brent Lomas), <a href="https://www.queenlynft.com/home" target="_blank" rel="noreferrer noopener">The Queenly NFT </a>is an organization used to promote, host, and support LGBTQ+ creators who are entering the Metaverse. </p>



<p>So The Queenly NFT, LLC has helped over a dozen queer creators to launch their projects successfully. These projects include work by several artists of varying backgrounds, gender, and sexual orientations. With the Metaverse still such a new environment for most, the importance of amplifying the voices of queer creators is more important than ever.&nbsp;</p>



<p>Their most recent project,<a href="https://opensea.io/collection/grey-leifer-dissolve" target="_blank" rel="noreferrer noopener">‘Dissolve’</a> by Grey Leifer is a collection of 12 animations featuring specially designed soundscapes. Leifer commented on their project, stating that “Each piece is a [study] of emotional resolve, a commentary on internal ebb and flow. These are universal experiences for people who walk through society ‘othered.’” </p>



<p>Leifer is an established fine artist and worked previously as Chief Design Officer for the gender-equal clothing brand, <a href="https://www.playoutapparel.com/?gclid=CjwKCAjwrZOXBhACEiwA0EoRD9wGtZo-MR-zxzMmUiR_8aZpDPskqbq2MabDSJSA1cMb6kTe6izdDhoCDh0QAvD_BwE" target="_blank" rel="noreferrer noopener">Play Out Apparel</a>. </p>



<h2>Pride Icons </h2>



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" width="1024" height="497" src="http://100.96.1.66:3001/app/uploads/2022/08/pride-icon-1024x497.jpg" alt="pride icon" class="wp-image-64659" srcset="http://100.96.1.66:3001/app/uploads/2022/08/pride-icon-1024x497.jpg 1024w, http://100.96.1.66:3001/app/uploads/2022/08/pride-icon-300x146.jpg 300w, http://100.96.1.66:3001/app/uploads/2022/08/pride-icon-768x372.jpg 768w, http://100.96.1.66:3001/app/uploads/2022/08/pride-icon.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption><em>Image By <a href="https://prideicons.io/#faq" target="_blank" rel="noreferrer noopener">Pride Icons</a></em></figcaption></figure></div>



<p><a href="https://prideicons.io/" target="_blank" rel="noreferrer noopener">Pride Icons</a> is a limited digital collection of pop art NFTs, created by Max Bahman. The collection itself consists of three sets that are ‘fabulous, legendary, and unique in their own way.’ Purchase of the Pride Icon NFTs grants users access to a community as well as member-only benefits and events. In addition to benefits in the metaverse, members are also given benefits that include discounts on facial plastic surgeries and discount memberships to a partnered fitness resort. </p>



<p>Co-Founders Eliad Cohen, Regev Gur, and Amir Lazarovich hoped to create a ‘purpose-led community’ that worked to fund non-profit organizations while creating a supportive environment for members of the LGBTQ+ Community. Though currently in a <a href="https://prideicons.io/#roadmap" target="_blank" rel="noreferrer noopener">‘hybernation period</a>’, the group insists that there are big plans to come for the community. </p>



<p>Currently, the project has not yet been launched: The creators had originally planned to launch on June 1st, 2022, during Pride Month but unfortunately could not do so.&nbsp;</p>



<h2>FeWoCiOUS</h2>



<p><a href="https://fewocious.com/" target="_blank" rel="noreferrer noopener">FeWoCiOUS</a> is a collection of NFTs created by a young transgender artist who goes by the name of Victor, and has earned <a href="https://fewocious.com/about/" target="_blank" rel="noreferrer noopener">over $17 million in under a year</a>. Originally utilized as a way to escape from his day-to-day life, the artist has now created a mini-empire by selling his pieces in the metaverse.</p>



<p>His most recent project, FeWoWorld, will allow holders of paint drops to unlock items in the generative art world he has created. He explains that the ‘more paint in your “Paint Drop” the more you’ll be able to unlock in FewoWorld.’ This includes canvas and items he calls Fewos. Fewos are inhabitants of FeWoWorld, and are another collectible for investors in the projects.</p>



<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" width="600" height="593" src="http://100.96.1.66:3001/app/uploads/2022/08/fewocious-take-care.jpg" alt="fewocious take care" class="wp-image-64639" srcset="http://100.96.1.66:3001/app/uploads/2022/08/fewocious-take-care.jpg 600w, http://100.96.1.66:3001/app/uploads/2022/08/fewocious-take-care-300x297.jpg 300w" sizes="(max-width: 600px) 100vw, 600px" /><figcaption><em>Art by <a href="https://fewocious.com/art">Fewocious</a></em></figcaption></figure></div>



<h2>Take Up Space&nbsp;</h2>



<p><a href="https://takeupspace.io/" target="_blank" rel="noreferrer noopener">Take Up Space</a> is a Web3 Playbook created by Founders Paff Evara and Hannah Peacock.  It is designed to give new investors the skills to navigate the Web3 space with confidence while providing an understanding and supportive community. After feeling irritated by how ‘pale, male and pretty stale’ they found the metaverse, they decided to bring in some changes to make the community more accessible to a broader range of individuals. </p>



<p>The pair explained that their primary goal is to bring more BIPOC &amp; LGBTQ+ people into the metaverse and create a welcoming space from the start. They have created a course that is designed with walk-throughs, readings, webinars and Q&amp;As while also providing support 24/7 on their Discord. Their goal is to break Web3 down in to its smallest segments to help boost anyone&#8217;s knowledge from complete beginners to intermediate users who are just looking for a bit more information.&nbsp;</p>



<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" width="600" height="499" src="http://100.96.1.66:3001/app/uploads/2022/08/take-up-space.jpg" alt="take up space" class="wp-image-64669" srcset="http://100.96.1.66:3001/app/uploads/2022/08/take-up-space.jpg 600w, http://100.96.1.66:3001/app/uploads/2022/08/take-up-space-300x250.jpg 300w" sizes="(max-width: 600px) 100vw, 600px" /><figcaption><em>Photo By <a href="https://takeupspace.io/" target="_blank" rel="noreferrer noopener">https://takeupspace.io/</a></em></figcaption></figure></div>



<h2>Web3 and Inclusivity Continue to Grow</h2>



<p>It&#8217;s great to see these positive moves by companies who are bringing LGBTQ+ into the NFT space in such diverse ways.&nbsp;</p>



<p>All of these projects are working to ensure that LGBTQ+ individuals have an active voice in Web3 from the very beginning.This list was intended to introduce you to ways you too can get involved and support the community!&nbsp;</p>



<p>As always, make sure to research any project before you invest to ensure you are actually supporting LGBTQ+ creations that do support worthy causes and charities. As inclusivity and Web3 continue to grow together we are excited to see what comes next in this area of Web3!</p>



<ul><li>Main Illustration credit: <a href="https://unsplash.com/@ninjason" target="_blank" rel="noreferrer noopener">Jason Leung</a></li></ul>


Pride 2022 was a chance for members of the NFT community to show their support for members of the LGBTQ+ community. Now that Pride is over, it’s important to take a look back while also providing plenty of ways to continue to engage and support the community. 

Inclusive NFTs: The LGBTQ+ Community


<p>As we announced in the first quarter of 2022, the NFT (and crypto) market was not in great shape especially since the global geopolitical context has become more complex. For this second quarter, an unfortunate trend has been confirmed and volumes no longer look like last year&#8217;s experience..!</p>



<h2><strong>Quarterly NFT Market Report Q2 2022 – Summary</strong></h2>



<p>With 55 pages dedicated to the analysis of the NFT market for the second quarter of 2022, here is the summary of the different chapters that you can find there:</p>



<p><strong>1 – The fundamentals</strong></p>



<ul><li>What is an NFT?</li><li>The data used for this report</li><li>Legal disclaimer</li></ul>



<p><strong>2 – A look back at Q2</strong></p>



<p><strong>3 – Overall performance</strong></p>



<ul><li>Q2 2022 Performance</li></ul>



<p><strong>4 – Detailed performance</strong></p>



<ul><li>Search volume</li><li>Performance by segment</li><li>Market distribution by project</li><li>Primary and Secondary Market</li><li>Average NFT Price Evolution</li><li>Active Wallets</li><li>Supply &amp; Liquidity</li></ul>



<p><strong>5 – The interview of the quarter</strong></p>



<ul><li>John Karp from the Non Fungible Conference and NFT Factory</li></ul>



<p><strong>6 – Profits &amp; losses on the market</strong></p>



<ul><li>Global performance of NFT Trading</li><li>Profit &amp; Loss per segment over time</li><li>Most profitable projects</li><li>More profitables sales</li></ul>



<p><strong>7 – Focus by segment</strong></p>



<ul><li>Crypto Art</li><li>Collectibles</li><li>Gaming</li><li>Metaverses</li><li>Utilities</li><li>The situation by segment</li></ul>



<p><strong>8 – General conclusions</strong></p>



<p>This article will introduce you to different metrics but we invite you to download the full report for free to have the most detailed overview possible!</p>



<h2>Q2 Global NFT Performance</h2>



<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" width="632" height="744" src="http://100.96.1.66:3001/app/uploads/2022/07/Q2-2022-marche-NFT-global-stats-1.jpg" alt="Q2 2022 marche NFT global stats" class="wp-image-64215" srcset="http://100.96.1.66:3001/app/uploads/2022/07/Q2-2022-marche-NFT-global-stats-1.jpg 632w, http://100.96.1.66:3001/app/uploads/2022/07/Q2-2022-marche-NFT-global-stats-1-255x300.jpg 255w" sizes="(max-width: 632px) 100vw, 632px" /><figcaption><em>Q2 2022 Global performance &#8211; NonFungible.com</em></figcaption></figure></div>



<p>Most indicators are down in the second quarter of 2022, without much surprise given the global economic context. The main metrics are down about 25%, which is a relatively modest decline compared to cryptocurrency trends.</p>



<p>Note that also the average price of NFTs experienced a very slight drop of only 6% while crypto currencies were almost divided by 3 during the period.</p>



<h2>NFT Trading: A 25% USD Traded Drop</h2>



<p>Let’s start with the USD traded volume. The NFT market has seen a massive drop of about 25% in terms of USD traded between Q1 and Q2 2022 with a global volume of about US$8 billion in Q2 2022.</p>



<p>It&#8217;s not just the USD volume traded that has fallen. This is also the case for the number of buyers and sellers as well as the number of sales. These decreases come mainly from collectibles that have lost interest since the beginning of the year except for the &#8220;blue chip&#8221; collections.</p>



<p><a href="https://nonfungible.com/market-tracker/cryptopunks" target="_blank" rel="noreferrer noopener">CryptoPunks</a>, <a href="https://nonfungible.com/market-tracker/meebits" target="_blank" rel="noreferrer noopener">Meebits</a> and the <a href="https://nonfungible.com/market-tracker/boredapeclub" target="_blank" rel="noreferrer noopener">Bored Ape Yacht Club</a> family alone account for 30% of the USD volume traded in the global NFT market. It would therefore seem that a centralization of the market is taking place around the projects owned by Yuga Labs for this first quarter of 2022.</p>



<h2>Q2 NFT Trading Profit &amp; Loss</h2>



<p>With the fall in the price of crypto and the decline in NFT market volumes, making profits has become harder during the second quarter of 2022. Profit at resell decreased by 46% during the period, for a total loss that increased by 23% (US$1.8 billion profit for US$1.4 billion loss).</p>



<p>NFT trading records a net profit of US$460M over Q2 2022, a significant decrease compared to Q1 2022 (US$2,347M).&nbsp;</p>



<p>The Collectibles segment is paradoxically the one with the highest resale loss rate, peaking at more than $100 million per week, but which at the same time still has the most profitable sales of the quarter.</p>



<h2>Less Liquidity and More Building</h2>



<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" width="672" height="238" src="http://100.96.1.66:3001/app/uploads/2022/07/liquidity-nft-segment.jpg" alt="liquidity nft segment" class="wp-image-64141" srcset="http://100.96.1.66:3001/app/uploads/2022/07/liquidity-nft-segment.jpg 672w, http://100.96.1.66:3001/app/uploads/2022/07/liquidity-nft-segment-300x106.jpg 300w" sizes="(max-width: 672px) 100vw, 672px" /><figcaption><em>Total volume of assets identified by segment and evolution of supply by quarter.</em></figcaption></figure></div>



<p>Very few new NFTs have been issued this quarter, with a global supply growth of only 4%. The liquidity has also considerably diminished over all segments. Secondary market remains predominant with almost 80% of the volume of USD traded, in the meantime, Primary market has constantly decreased over the period.</p>



<p>It is mainly around the <a href="https://nonfungible.com/market-tracker/ethereumnameservice" target="_blank" rel="noreferrer noopener">Ethereum Name Service</a> (ENS) that the volume has been in the Utilities sector. The decentralized domain name project has announced new updates for its product. But we have also seen a lot of speculation around three-character names.</p>



<p>Driven by <a href="https://nonfungible.com/market-tracker/otherside" target="_blank" rel="noreferrer noopener">OtherSide</a> and the continuity of the hype launched by Meta at the end of last year, metaverse projects also seem to be multiplying. </p>



<p>Only utility NFTs and metaverses are showing growing liquidity despite a bear market.&nbsp;</p>



<h2>NFTs Are Not Buried Yet</h2>



<p>The least we can say is that the market has changed dramatically in just one quarter. NFTs are no longer in the spotlight, the turmoil seems to have died down…for now. Let’s take this opportunity to refocus on what really brings value over time.</p>



<p>Profit is made during Bull Markets, but it is usually during the Bear Markets where real value is built.</p>



<p>If you want to know more about our prediction for the next quarter and more in-depth analysis, <a href="https://nonfungible.com/reports/2022/en/q2-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener">download our free quarterly Q2 report</a>!</p>


Over Q2 2022, the NFT industry has once again entered a building phase. Download our free Quarterly NFT Market Report Q2 2022.

NFT Market Report Q2 2022: A massive 25% USD Traded Drop


<p>In 2021, <a href="https://www.collinsdictionary.com/woty" target="_blank" rel="noreferrer noopener">“NFT” was elected word of the year by the Collins Dictionary</a>. Despite this, NFT remains a very cryptic acronym for the majority of the population. As one of the main pillars of the non-fungible token ecosystem since the early days, NonFungible.com has been dedicated to bringing clarity to the ecosystem. To that aim, our team has decided to take on the challenge and has created a thorough guide for every newcomer and aficionado eager to deepen their knowledge about this complex and growing NFT industry.&nbsp;</p>



<p><strong>Are you ready to challenge the way you view Web3?</strong></p>



<figure class="wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="NonFungible.com NFT Academy Presentation" width="500" height="281" src="https://www.youtube.com/embed/hDSAZPITJeE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



<h2>4 Sections Divided in Units and Chapters for A ‘Pick &amp; Choose’ Experience!</h2>



<p>Every area of focus (section) has been divided into individual units where you will be able to access content and chapters. This division has been put in place to help those looking for specific topics, while also providing a step-by-step linear approach for those who want to read the full contents.&nbsp;</p>



<p>The chapters are short and easy to digest and the displayed reading time and level of difficulty will help you set accurate goals in your learning.</p>



<h3>Blockchain</h3>



<p>You won’t be able to fully grasp NFTs and their global relevance if you aren’t familiar with some core concepts of the blockchain.&nbsp;</p>



<p>Inside this section, we’ll explore topics such as:&nbsp;</p>



<ul><li><a href="https://nonfungible.com/academy/blockchain/what-is-blockchain" target="_blank" rel="noreferrer noopener">What is Blockchain?</a></li><li><a href="https://nonfungible.com/academy/blockchain/bitcoin-history" target="_blank" rel="noreferrer noopener">Short History of Bitcoin</a></li><li><a href="https://nonfungible.com/academy/blockchain/ethereum-history" target="_blank" rel="noreferrer noopener">Short History of Ethereum</a></li><li><a href="https://nonfungible.com/academy/blockchain/transactions" target="_blank" rel="noreferrer noopener">Different Types of Blockchain Transactions</a></li><li><a href="https://nonfungible.com/academy/blockchain/buying-selling-cryptocurrencies" target="_blank" rel="noreferrer noopener">Buying &amp; Selling Cryptocurrencies</a></li><li><a href="https://nonfungible.com/academy/blockchain/lending-borrowing" target="_blank" rel="noreferrer noopener">Lending &amp; Borrowing on the Blockchain</a></li></ul>



<p>..and many more!</p>



<div class="wp-container-62fcc25344434 wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://nonfungible.com/academy/blockchain" target="_blank" rel="noreferrer noopener">Explore the blockchain section</a></div>
</div>



<h3>NFT</h3>



<p>The largest section of the academy! You’ll find everything you need to know about NFTs in this section from their history to the way they are used in the digital world.</p>



<p>In this vast section, we’ll dive into:&nbsp;</p>



<ul><li><a href="https://nonfungible.com/academy/nft/what-is-an-nft" target="_blank" rel="noreferrer noopener">What Is An NFT?</a></li><li><a href="https://nonfungible.com/academy/nft/nft-history" target="_blank" rel="noreferrer noopener">History of NFTs</a></li><li><a href="https://nonfungible.com/academy/nft/why-are-nfts-important" target="_blank" rel="noreferrer noopener">Why Are Non-Fungible Tokens Important?&nbsp;</a></li><li><a href="https://nonfungible.com/academy/nft/difference-blockchain-crypto-gaming" target="_blank" rel="noreferrer noopener">Blockchain &amp; Crypto Gaming&nbsp;&nbsp;</a></li><li><a href="https://nonfungible.com/academy/nft/governance-tokens" target="_blank" rel="noreferrer noopener">Governance Tokens</a></li><li><a href="https://nonfungible.com/academy/nft?unit=trading-nft" target="_blank" rel="noreferrer noopener">Trading NFTs</a></li><li><a href="https://nonfungible.com/academy/nft?unit=minting-nft" target="_blank" rel="noreferrer noopener">Minting NFTs</a></li><li><a href="https://nonfungible.com/academy/nft?unit=nft-art" target="_blank" rel="noreferrer noopener">NFT Art</a></li></ul>



<p>As well as other key definitions and NFT applications.</p>



<div class="wp-container-62fcc253449fa wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://nonfungible.com/academy/nft" target="_blank" rel="noreferrer noopener">Explore the NFT section</a></div>
</div>



<h3>Analytics</h3>



<p>Equally important is how to use our free market tracker to screen the latest market trends and understand the usual metrics associated with the NFT markets before you buy or sell NFTs. The Analytics section is designed to help you navigate these sectors.</p>



<div class="wp-container-62fcc25344ef5 wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://nonfungible.com/academy/analytics" target="_blank" rel="noreferrer noopener">Explore the analytics section</a></div>
</div>



<h3>Ecosystem</h3>



<p>Last but not least, anyone who has a serious interest in NFTs needs to know how to separate the signals from the noise. This final section ‘Ecosystem’ sheds light on NFT communities and their functions based on our data and experience.</p>



<p>In this section, we’ll share our vision of the NFT space and attempt to reply to questions including:</p>



<ul><li><a href="https://nonfungible.com/academy/ecosystem/nfts-impact-environment" target="_blank" rel="noreferrer noopener">Are NFT bad for the environment?</a></li><li><a href="https://nonfungible.com/academy/ecosystem/are-nfts-the-future" target="_blank" rel="noreferrer noopener">Are NFTs the future?</a></li><li>Will the NFT market crash?</li></ul>



<p>We will also take a look at the marriage between DeFi &amp; NFTs and what it entails: liquidity mining, yield farming, and tokenomics for example.</p>



<div class="wp-container-62fcc25345491 wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://nonfungible.com/academy/ecosystem" target="_blank" rel="noreferrer noopener">Explore the ecosystem section</a></div>
</div>



<h2>An Easy Access to The Glossary to Support Your Reading</h2>



<p>Be prepared: While we have designed this program to ensure you are not overwhelmed by any of the topics, there is a significant amount of jargon that will need to be mastered over time.</p>



<p>All the words highlighted in light gray in the chapters have a glossary definition. Click on them and their definition will appear on the side.&nbsp;</p>



<p>If you’re ready to go a bit deeper in your understanding of the NFT space, the glossary is a great tool to look up terms you may have encountered and did not understand. You can find it anytime at the bottom of the NFT Academy main page.</p>



<p>We hope you enjoy this new resource available on our website! Whether you are here to start on your learning journey or looking for an easy program to educate those who don’t understand your love of NFTs: let’s bring the decentralized revolution forward together! </p>



<p><em>We are always delighted to hear from you. If you have feedback, comments, or suggestions concerning the Academy, feel free to </em><a href="https://nonfungible.com/contact-us" target="_blank" rel="noreferrer noopener"><em>contact us</em></a><em>.</em></p>



<p>Huge thanks to:</p>



<ul><li><strong>Max aka Besancia</strong>: Two years of hard work to delivering </li><li><strong>Jess</strong>: Early contributor and proofreader</li><li><strong>Audrey</strong>: SEO reviewing and updates proposals</li><li><strong>Camille &amp; Walid</strong>: Designing all the academy</li><li><strong>Nick Muller (Knack) &amp; Kay</strong>: Reviewing and spell-checkers of all the content</li><li><strong>Dan &amp; Andreas</strong>: For making the magic happen</li></ul>



<div class="wp-container-62fcc25345b7c wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://nonfungible.com/academy" target="_blank" rel="noreferrer noopener">Discover our NFT academy</a></div>
</div>


Introducing the NFT Academy: a thorough guide for every newcomer and aficionado eager to deepen their knowledge about this complex and growing NFT industry. 

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