NFT Report: October Edition
The NFT market has felt the effects of “Uptober,” as sales volumes have increased 21% in the last 30 days, resulting in a market cap of $2.18 billion. Blue-chip projects such as the BAYC collection saw an 81.2% increase in volume the last month, similar to Pudgy Penguins, which had a 51.2% increase in volume. The increase in price and volume can be partly attributed to the general price increase of the crypto market, with Bitcoin and Ethereum up 24.7% and 7.26%, respectively, in the past month. Moreover, when Pudgy Penguins started selling physical plush toys in Walmart, one of the most successful retail stores, interest surged, and so did the floor price of the NFT.
NFT Report: September Edition
The NFT market continues to face low sentiment as sales volumes have dropped 29% in the last 30 days, and mainstream media is reporting NFTs as “worthless.” Covered by The Guardian, Cointelegraph, Yahoo, The Hindu Times, and more, a recent study conducted by dappGambl, which analyzed data from NFT Scan and CoinMarketCap, found that 95% of NFT collections, equivalent to 23 million individuals, hold NFTs with no market value – as 69,795 out of 73,257 collections have a market cap of 0 Ether.
NFT Report: July Edition
The Crypto Market faces negative sentiment as prominent collections struggle to keep pace with crypto price increases. Recent floor price drops in collections like BAYC and Azuki Elementals reveal the lack of real value accrual mechanisms in blue-chip collections, impacting NFT prices. During such times, projects must demonstrate strong team resilience, deliver results, gain market share, and experience substantial growth in bullish market conditions.
NFT Report: June Edition
The Crypto Market is experiencing a flurry of news and developments, significantly impacting the entire cryptocurrency space. These times often showcase the resilience of strong teams as they continue to deliver results, gain market share, and experience significant growth during bullish market conditions.