The NFT market continues to grow and the top 15 NFT marketplaces have now facilitated nearly $2.5 billion in volume.
A Quick Thread on The NFT & Web3 Q2 Trends 👇🏻
Messari's Q2 Web3 and NFT report is free for all so check it out for a recap on what you missed in Web3 and NFTs!
messari.io/article/web3-n…
One of the strongest performers this quarter was Axie Infinity.
The Axie Treasury grew $18 million throughout the second quarter.
Perhaps the most notable trend in Q2 was the continuation of NFT avatar projects.
NFT Avatars (e.g. Meebits) continued to grow in popularity as the emerging sector generated nearly $350 million in secondary sales throughout Q2 and nearly $600 million in the first half of 2021.
However, concentration among these NFT avatar projects still remains strong with no avatar community have over 5,000 owners which grows worse when factoring in that most of these projects only have ~10k NFTs.
Elsewhere Web3 is finally hitting its stride:
• Ocean's data marketplace TVL crosses $3.3m
• Sia, Arweave, and Filecoin continue to increase
capacity and store more data
• Handshake registered domains are at an ATH
• Helium is onboarding thousands of hotspots per
week
What next quarter holds is anyone’s guess, but if these trends continue the second half of the year is setting up to be spectacular for those who care about Web3 and NFT adoption.
messari.io/article/web3-n…
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