Publication date
07/26/2022
Language
English
Page number
55
Reading time
25
Format
PDF to download
Level
Intermediate
Quarterly NFT Market Report
Free · Q2 · 2022
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.
Details
Key points
- 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.
Summary
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.
Keep in touch
© 2018 - 2023 NonFungible Corporation
All rights reserved.