During this turbulent quarter, the NFTs sector experienced a huge activity spike brought by a public that had never heard of it before. These last three months, we have seen the mainstream media place NFTs on a pedestal, giving the industry excellent visibility, but also causing a lot of ink to flow; especially in the art sector.
Let us introduce you today to the evolution of the NFT market for this Q2 2021. We will return to this bubble phenomenon but also the retention rate of the different sectors, the average price of assets or a top 3 sales for each category.
Overall, compared to the first quarter, 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.
As we already said in our 2020 annual report, this trend is part of a strong growth for both the NFTs sector and the crypto sector since September 2020.
It is therefore particularly interesting to note that despite what the great media thought, the NFTs sector is absolutely not dead and continues to evolve well.
One of the indicators that grabbed our attention was the distribution of sales during this second quarter. The arts sector is not the one that has evolved the most over the last three months, but rather the utility sector.
As these NFT use cases are not very widespread, we carefully consider this signal that could become a trend.
This signal on the utility NFTs is not reflected in the level of the USD volume generated by sales. 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. With a primary market volume of $90,763,550 for this quarter, the launch of Meebits has given a lot of market’s misinterpretation.
But even if the end of the quarter in terms of USD volume was lower than at its beginning, this is not the case for its sales volume which saw a sharp increase.
The biggest on-chain sales of this quarter were won hands down by the art segment, followed by the collectibles segment and then metaverses.
With the various sales of Christie’s and Sotheby’s auction houses, we have ranked these record sales in another “off-chain” segment.
This trend is also developing and in the future we will develop the tools to be able to integrate these sales automatically into our analysis and reports.
This article tracks only a few key trends and figures from our Q2 2021 report. If you want to read the full report, you can download it for free by following the link below