
<h2>Why Build Our HQ in a Metaverse?</h2>



<p>We&#8217;ve been dreaming about this building for a while! We started thinking about the idea of a place to welcome the public a few years ago but let&#8217;s be honest, the bull run slightly disrupted our plans. However, our ambitions and objectives have not changed:</p>



<ul><li>Have a place to find free information about NFTs</li><li>Be able to organize meetups to present our reports and answer questions directly</li><li>Organize AMAs</li><li>Exhibit different artistic works</li><li>Discussing the future of Web3</li></ul>



<p>Why Decentraland? Historically, this was the first project we were able to follow on our <a href="https://nonfungible.com/market-tracker" target="_blank" rel="noreferrer noopener">Market Tracker</a>. Then, it is in our eyes the virtual world that symbolizes the laboratory of experiments that is the NFT ecosystem. It therefore corresponds to our identity to want to continue to build tools that are always as close as possible to our community, in a community approach.</p>



<p>That’s why we asked <a href="https://www.lowpolymodelsworld.com/" target="_blank" rel="noreferrer noopener">Low Poly Models</a> for their help to build the best building we could have ever imagined of. And additionally, our friends from <a href="https://dappcraft.io/" target="_blank" rel="noreferrer noopener">DAPPCRAFT</a> created some nice <a href="https://events.decentraland.org/event/?id=9b802ea1-bee9-4d06-831c-aab5735b3c0b" target="_blank" rel="noreferrer noopener">emotes and wearables we’re going to give away</a> during this weekend!</p>



<h2>Visit the NonFungible.com HeadQuarters</h2>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" width="1024" height="494" src="http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-Art-Metaverse-1024x494.jpg" alt="NonFungible Decentraland HQ Art Metaverse" class="wp-image-287736" srcset="http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-Art-Metaverse-1024x494.jpg 1024w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-Art-Metaverse-300x145.jpg 300w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-Art-Metaverse-768x371.jpg 768w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-Art-Metaverse.jpg 1467w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption><a href="https://play.decentraland.org/?NETWORK=mainnet&amp;position=-130%2C-64&amp;realm=baldr&amp;island=In792" target="_blank" rel="noreferrer noopener">NonFungible.com Decentraland HQ</a> &#8211; Metaverse and Art Floor</figcaption></figure></div>


<p>The <a href="https://play.decentraland.org/?NETWORK=mainnet&amp;position=-130%2C-64&amp;realm=baldr&amp;island=In792" target="_blank" rel="noreferrer noopener">NonFungible.com Decentraland headquarters</a> is divided into 5 floors, each with its specialty. Three floors, a ground floor and also, a basement! When you arrive at the entrance, you will be able to find the main information to contact us but also a display area for our sponsors.</p>



<h3>Sponsor and Data Floors</h3>



<p>The first three floors of our HQ are dedicated to the NFT market data and information display. The purpose of these floors is to provide a live integration of the data we offer on site. While the first floor will be reserved for potential sponsors, the next two floors will be dedicated to data display.</p>



<h3>Roof Top</h3>



<p>The rooftop can host conferences, WADA sessions or presentations of the various reports. The goal being to be as inclusive as possible, it will also be a question of hosting Q/A sessions or allowing artists or different projects to come and present their work.</p>



<h3>Basement</h3>



<p>The basement also has some surprises in store! We have created an entire space dedicated to education and information in the Web3 ecosystem. Regularly, we will update the articles that can be accessed and why not, maybe one day we will hold courses to know how to set up your community or share some tips for launching your projects?</p>



<h2>A Space to Inform And Share Knowledge Together</h2>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" width="1024" height="550" src="http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-basement-1024x550.jpg" alt="NonFungible Decentraland HQ basement" class="wp-image-287732" srcset="http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-basement-1024x550.jpg 1024w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-basement-300x161.jpg 300w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-basement-768x412.jpg 768w, http://100.96.1.66:3001/app/uploads/2022/11/NonFungible-Decentraland-HQ-basement.jpg 1307w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption><a href="https://play.decentraland.org/?NETWORK=mainnet&amp;position=-130%2C-64&amp;realm=baldr&amp;island=In792" target="_blank" rel="noreferrer noopener">NonFungible.com Decentraland HQ</a> &#8211; Basement</figcaption></figure></div>


<p>This space will be our meeting place and meetings with the NFT community. We want it to be open to as many people as possible in order to create a space for exchange and connections.</p>



<p>While 2021 was surprising and incredible, we don&#8217;t forget that we&#8217;re still building the foundation for tomorrow&#8217;s web. What is called the &#8220;web3&#8221; is not yet precisely defined and it may take a few more years. That&#8217;s why we want to continue to encourage NFT experimentation labs like <a href="https://nonfungible.com/market-tracker/decentraland" target="_blank" rel="noreferrer noopener">Decentraland</a> and the initiatives that came out of it like <a href="https://dappcraft.io/" target="_blank" rel="noreferrer noopener">DAPPCRAFT Agency</a> or <a href="https://www.lowpolymodelsworld.com/" target="_blank" rel="noreferrer noopener">Low Poly Model</a>.</p>



<p>To celebrate this event, we’re going to distribute some emotes and wearables for free ! Feel free to join us at the event&nbsp;</p>



<div class="wp-container-22 is-content-justification-center wp-block-buttons">
<div class="wp-block-button"><a class="wp-block-button__link" href="https://events.decentraland.org/event/?id=9b802ea1-bee9-4d06-831c-aab5735b3c0b" style="border-radius:0px" target="_blank" rel="noreferrer noopener">Join Us For Our First Event In Decentraland!</a></div>
</div>



<p>We hope to see many of you there!</p>


We've wanted it for over a year, now it's a dream come true: we have our building in Decentraland! Come and take a tour of the owner.

The NonFungible.com HQ in Decentraland is now open!


<p>One can hardly escape the Bored Apes-starred billboards scattered across Tel Aviv&#8217;s highways nowadays. One invites to the city&#8217;s largest museum, another to a &#8216;tomorrow&#8217; exhibition 5 minutes drive away; both for exhibitions of NFTs. Visiting one such, the view was scenic. An AI assistant was busy answering art enthusiasts bombarding her with &#8220;what&#8217;s all this NFT fuss about anyway&#8221; kind of questions. Van Gogh and Chagall, meanwhile, whose masterpieces hung a few meters away, seemed rather lonely. The takeover was striking.</p>



<h2>Not so long ago have art curators despised NFTs. Now they&#8217;re exhibiting them.</h2>



<p>Tel Aviv is no exception. NFTs are now sweeping the worlds&#8217; museums by the dozens. One critic says they&#8217;re &#8220;<a href="https://www.creativebloq.com/news/ouche-nft-exhibition-offf" target="_blank" rel="noreferrer noopener">weird</a>&#8220;, another &#8220;<a href="https://jingculturecrypto.com/fotografiska-stockholm-somewhere-media-somewhere-ethereal/" target="_blank" rel="noreferrer noopener">ethereal</a>&#8221; (what a hilarious pun), all visit. In Seattle, Amsterdam, even Ukraine: NFT-designated museums are not something reserved for the Metaverse anymore. But more momentous is NFTs&#8217; acceptance as equals among already respectable, well-established, traditionally conservative museums. </p>



<p><a href="https://currency.com/paris-louvre-is-exploring-the-introduction-of-art-nfts" target="_blank" rel="noreferrer noopener">The Louvre</a>, <a href="https://www.moma.org/calendar/events/7416" target="_blank" rel="noreferrer noopener">MoMA</a>, <a href="https://www.rijksmuseum.nl/en/rijksstudio/30942--jari-kettunen/collections/nft" target="_blank" rel="noreferrer noopener">Rijksmuseum</a>, <a href="https://www.theguardian.com/technology/2021/sep/24/british-museum-nfts-digital-hokusai-postcards-lacollection" target="_blank" rel="noreferrer noopener">the British Museum</a>. Out of the world&#8217;s top 10 art museums, at least 6 have had their share of giving the spotlight to non-fungibles so far. Not only have they been exhibiting NFTs for a while now; they&#8217;ve also been busy minting them, including offering some very non-digital artworks for sale on the Mainnet. A recent New York Times article describing the current tide of interest among museums in NFTs, marked the final approval of this phenomenon&#8217;s existence.</p>



<p><br>Old-timers may remember it hasn&#8217;t quite been that way all the way long. &#8220;<em>NFTs are an embarrassment to the art world</em>&#8220;, read one headline at an art outlet. &#8220;<em>Think cryptocurrency is bad? NFTs are even worse</em>&#8220;, declared another, right before rhetorically asking &#8220;<em>Does anyone aside from tech bros think this is a good idea?</em>&#8220;. Another asked &#8220;<em>Why Does NFT Art Look So Bad?</em>&#8220;, and one more simplisticly announced &#8220;NFTs Are Terrible&#8221;. Some artists went further to pledge that NFTs Are &#8220;the Bane of Their Existence&#8221;. </p>



<p>Where this hate comes from is quite obvious. Gatekeepers will always shelter their castle from newcomers, even if their castle – conemporary art, in that case – is founded on priding itself for being revolutionary and inviting. Simply put, &#8220;<em>the NFT Craze Reveals the Artworld’s Snobbism</em>&#8220;, as Martin Herbert&#8217;s article in <a href="https://artreview.com/how-nft-craze-reveals-artworld-snobbism/" target="_blank" rel="noreferrer noopener">ArtReview</a> goes. Writing there too, <a href="https://artreview.com/why-the-artworld-loves-to-hate-nft-art-beeple-christies-grimes/" target="_blank" rel="noreferrer noopener">J.J. Charlesworth answers</a> similarly in his &#8220;<em>Why the Artworld Loves to Hate NFT Art</em>&#8221; article.</p>



<p>But now a much tougher question arises: why doesn&#8217;t the artworld hate NFT that much anymore?</p>



<h2>Follow the Money</h2>



<p>Museums need money, and NFTs have money. If nothing else, it is this primal need that explains museums&#8217; interest in engaging with NFTs, needless to say minting them. Far from a win for NFTs, this could easily count as another cynical exploitation of them; of which the NFT community is rightfully wary of after seeing too many brands joining at highs and leaving at lows. Except it is actually one of the most striking, unequivocal wins the NFT community has ever known.</p>



<p>The very promise of NFT in regards to art is, and always has been, to make it economically viable; to make it profitable. These are not mere words: art has long had a hard time finding funding, receiving it either from oligarchs, nouveaux riches or governments, but always in search for a better business model. NFTs vow to end this search. Some artists welcomed them, and quickly saw their gamble proven right. But the artworld as a whole has clearly been reluctant to adapt, mostly preferring the old and familiar rather than the new and unkown. </p>



<p>And then come the museums, the &#8216;temples of art&#8217; as one once said. And even if with few praises to the NFT community; even if hesitantly, warily, far from wholeheartedly; even if as a mere tool for lining their pockets – they join the NFT revolution. Probably absentmindedly, perhaps against their own will, the museums have proved what has been clear to web3 savvies but less so to artists themselves: that NFTs solve art&#8217;s money problem.</p>



<p>Using NFTs, making money off of them, as cynical as it might be, the museums are doing NFTs a greatest service: they are realising their promise. The temple of the artworld – the same artworld that used to disregard NFTs – is now embracing them. Could there be a sweeter win?</p>



<h2>Vive la révolution NFT</h2>



<p>It is not just the money, though. The only thing museums – non-profits, at the end (though ones in desperate need for budget sources) – crave even more than money, is visitors. Despite being elitist and highbrowed at times, their mission statement is nonetheless being visited by the public. That they are exhibiting NFTs means – as intuitive as it is – that the public loves NFTs, or at least is very curious about them. And when the public goes to the museum, it wants to see NFTs there. </p>



<p>Thus NFT goes to the museum. But beyond all the utilitarian motives, beyond the needs and hidden interests, lies one truth NFT&#8217;s acceptance to the museum necessarily means: that the artworld finally views it as art. No vocal, enraged article or anti-NFT petition could ever dispute the fact that NFTs are now  exhibited next to Chagall and Van Gogh&#8217;s paintings. That they have made it to the temple of art.</p>



<p><strong>The importance of this approval – as marginal and anecdotal as it may first seem – cannot be overstated</strong>. Entering the museum means showcasing NFT&#8217;s benefits for the artworld at their most striking, having the upper hand in the public opinion, and being regarded as artistically worthy. Entering the museum means entering the heart of art. It is more than another proof that NFTs are here to stay; more than another battle won over the desperate gaurdians of the artworld. It is the victory.</p>



<p>Follow the <a href="https://twitter.com/dem00n_nft" target="_blank" rel="noreferrer noopener">De Moon on Twitter</a></p>



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Museums have been reluctant to open their doors to NFTs. It seems that the trend is changing, what could be the reason?

NFT Goes to the Museum


<p>We’ve seen weak signals indicating a promising and stable direction for the NFT industry amidst the Bear Market after a massive drop in USD traded volume of 25% over the last quarter, this indicator fell again by 77% compared to Q2 2022. Was it merely a passing fad in the end? Or is the ecosystem continuing to silently preserve and build? Discover the answers in our report..</p>



<h2><strong>Quarterly NFT Market Report Q3 2022 – Summary</strong></h2>



<p>With 51 pages dedicated to the analysis of the NFT market for the third quarter of 2022, here is the summary of the different chapters:</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 Q3</strong></p>



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



<ul><li>Q3 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>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>



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<h2>Q3 2022 NFT Market Performance: Building the Web3 Industry Despite Low Volumes.&nbsp;</h2>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="714" height="859" src="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-Market-Report-global-statistics.jpg" alt="NFT market report q3 2022 Market Report global statistics" class="wp-image-72227" srcset="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-Market-Report-global-statistics.jpg 714w, http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-Market-Report-global-statistics-249x300.jpg 249w" sizes="(max-width: 714px) 100vw, 714px" /><figcaption><a href="https://nonfungible.com/reports/2022/en/q3-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener"><em>NFT Quarterly Market Report Q3 2022 &#8211; Global Performance</em></a><em><a href="https://nonfungible.com/reports/2022/en/q3-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener"> &#8211; NonFungible.com</a></em></figcaption></figure></div>


<p>The most notable indicator of global NFT statistics is that of the USD traded volume. Compared to the second quarter, it fell 77% to US$1.6 billion traded on the market from US$7.3 billion in Q2 2022.</p>



<p>It is interesting, however, that other equally important indicators have not fallen as much. For example, the number of sales fell very little (-5%) as well as that of active wallets (-17%). With respectively a volume of US$10.9 million in sales and US$1.1 million in wallets, activity is still significant during this quarter.</p>



<p>Another important element: the number of smart contracts also continued to increase by 9% to more than 17K showing that initiatives continue to be launched by project creators.</p>



<h2>The NFT Market is Reshaping and Becoming Less Centralized</h2>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="891" height="634" src="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022Market-share-per-project.jpg" alt="NFT market report q3 2022Market share per project" class="wp-image-72223" srcset="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022Market-share-per-project.jpg 891w, http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022Market-share-per-project-300x213.jpg 300w, http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022Market-share-per-project-768x546.jpg 768w" sizes="(max-width: 891px) 100vw, 891px" /><figcaption><a href="https://nonfungible.com/reports/2022/en/q3-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener"><em>NFT Quarterly Market Report Q3 2022 &#8211; Share Market per Project &#8211; NonFungible.com</em></a></figcaption></figure></div>


<p>During this third quarter, one of the biggest changes was the reconstitution of the market. For example, Yuga Labs&#8217; collections (<a href="https://nonfungible.com/market-tracker/boredapeclub" target="_blank" rel="noreferrer noopener">Bored Apes Yacht Club</a>, <a href="https://nonfungible.com/market-tracker/cryptopunks" target="_blank" rel="noreferrer noopener">CryptoPunks</a>, <a href="https://nonfungible.com/market-tracker/otherside" target="_blank" rel="noreferrer noopener">Otherside</a> and <a href="https://nonfungible.com/market-tracker/meebits" target="_blank" rel="noreferrer noopener">Meebits</a>) accounted for just over 30% in Q2. For this Q3, they represented 17% of the USD volume traded.</p>



<p>Despite a bearish market, we observe a change in the actors entering the NFT industry with well-established brands (Tiffany, Starbucks, Microsoft, MTV, the city of Shanghai, Ticketmaster) from all horizons launching NFT initiatives, confirming that the NFT market is quietly and slowly reaching a mainstream audience.</p>



<p>The market has therefore reshaped itself by leaving more room for other Collectibles type projects such as <a href="https://nonfungible.com/market-tracker/doodles" target="_blank" rel="noreferrer noopener">Doodles</a>, <a href="https://nonfungible.com/market-tracker/moonbirds" target="_blank" rel="noreferrer noopener">Moonbirds</a> or <a href="https://nonfungible.com/market-tracker/nouns" target="_blank" rel="noreferrer noopener">Nouns</a> but also the art and utility segments have made a breakthrough in the top 5 projects that generated the most USD traded volume. On one hand, <a href="https://nonfungible.com/market-tracker/artblocks" target="_blank" rel="noreferrer noopener">Art Blocks</a> has again aroused interest but on the other hand, a strong euphoria has also manifested itself around <a href="https://nonfungible.com/market-tracker/ethereumnameservice" target="_blank" rel="noreferrer noopener">Ethereum Name Service</a>.</p>



<p>Several categories began to form, mainly with ENS names consisting of 3 to 4 digits.</p>



<h2>NFT Collectibles Are Still Dominant, Art and Utilities Are Getting Stronger&nbsp;</h2>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="742" height="400" src="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-USD-volume-traded-by-segment.jpg" alt="NFT market report q3 2022 USD volume traded by segment" class="wp-image-72219" srcset="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-USD-volume-traded-by-segment.jpg 742w, http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-USD-volume-traded-by-segment-300x162.jpg 300w" sizes="(max-width: 742px) 100vw, 742px" /><figcaption><a href="https://nonfungible.com/reports/2022/en/q3-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener"><em>NFT Quarterly Market Report &#8211; Q3 2022 &#8211; USD Volume Traded by Segment &#8211; NonFungible.com</em></a></figcaption></figure></div>


<p>With over US$537 million in trading volume for the third quarter of 2022, the collectible segment represents 60% of the market share. With a 52% drop in active wallets, this means wallets that have collected Collectible NFTs have preferred to keep their NFT rather than sell it at a loss.</p>



<p>Meanwhile, the Art (14%) and Utilities (13%) segments experienced the most volume during this quarter. Only the Utility segment is standing out and showing a promising future with a volume of assets increasing (+44%) and liquidity accelerating (+5%)</p>



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<h2>NFT Community Remains Active and Favors Healthier Trading Behaviors&nbsp;</h2>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" width="704" height="398" src="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-active-wallet-by-segment.jpg" alt="NFT market report q3 2022 active wallet by segment" class="wp-image-72215" srcset="http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-active-wallet-by-segment.jpg 704w, http://100.96.1.66:3001/app/uploads/2022/10/NFT-market-report-q3-2022-active-wallet-by-segment-300x170.jpg 300w" sizes="(max-width: 704px) 100vw, 704px" /><figcaption><a href="https://nonfungible.com/reports/2022/en/q3-quarterly-nft-market-report" target="_blank" rel="noreferrer noopener"><em>NFT Quarterly Market Report Q3 2022 &#8211; Active Wallets by Segment &#8211; NonFungible.com</em></a></figcaption></figure></div>


<p><em>Active Wallets: Number of wallets that bought or sold at least one NFT during the period. The number of active wallets allows you to have an estimate of the activity that took place on-chain (buying, selling, interacting with a smart contract) but it is important to keep in mind that a user can have several wallets. To find out the number of off-chain users, we recommend you ask project creators to share their statistics.</em></p>



<p>Looking at active wallets, the distribution of on-chain activity is much more diverse than the USD traded volume. The segment with the least active wallets is the Metaverse with a bit more than 17K wallets (-74% compared to Q2). That said, it is also the segment that has seen its average ownership increase by 375%.</p>



<p>This trend is not only related to the metaverse segment, we also find it in art, collectibles, gaming and utilities. NFT collectors are fewer in number but keep their assets longer. Perhaps a longer investment perspective?</p>



<h2>‘This New Generation of NFTs Will Either Be Useful or Won’t Be..’</h2>



<p>This quote from our co-founder Gauthier Zuppinger concludes the state of the NFT market for this third quarter of 2022. Indeed, the main expectation of buyers today is to find a real utility before investing. Collections with no real potential created last year are no longer traded and investments in new collections are more cautious.</p>



<p>The NFT community is therefore larger but has also become more demanding. To understand more precisely the NFT market of this Q3 2022, we invite you to download your version of the report and follow us on our different networks.</p>



<p>We would also like to warmly thank our sponsors who supported us in writing this report:</p>



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The NFT Market is stabilizing on solid and engaged communities with a healthier trading behavior. Yes, Bear Markets are hard, but everyday the NFT space continues to build the future of the web. Here’s a summary of what happened in NFT Markets during Q3 2022.

NFT Market Report Q3 2022: Build Market is Here.

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