Quarterly NFT Market Report

Data doesn’t lie. At NonFungible we analyze it and make the complex simple and freely accessible for everyone.

Our Q1 Report looks into Non-Fungible Token trends on the Ethereum chain. We use our data to provide an in depth analysis of the market backed with charts and analytics.

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Details

Publication date

04/02/2021

Language

English

Page number

Reading time

Format

PDF to download

Level

Intermediate

Key points

Massive USD volume growth
We can safely say that the first Quarter of 2021 is unlike anything we've ever witnessed in the NFT industry. This first Quarter has seen more than $2 billion USD traded in NFTs, more than 20 times the volume traded over the previous three months, or 131 times the volume of the first Quarter of 2020.
Collectibles and art are leading
The value of Art assets in the secondary market has increased significantly (from 35% in 2020 to 61% in Q1 2021). This is a clear sign of speculation from collectors who are trying to get their hands on as many of the works already issued by promising artists as possible.
Regarding the Collectibles segment, the secondary market represents half of sales today, while it only represented a third in 2020. As with art, there is very strong interest in already issued assets, even more than for recently created assets by the projects.

Summary

So much has changed since December 31, 2020, a new era of the NFT industry has dawned with this new asset class attracting media coverage like never before. Many skeptics have started to raise their heads as the increase in value has people speculating on an NFT “Bubble”. The pioneers, builders, and those who have been participating in building this ecosystem for more than three years are very aware that this is no bubble, but an underlying trend, slow, powerful, relentless. We hope you will find these pages informative, and that they will allow you to better understand this booming industry.