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