1/ A thread on how we think of the state of the #NFT market (tldr; its growing and hardly "dead") infact from August to September volume of transactions has grown by over 30% - what's changed? 👇🧵
https://twitter.com/business/status/1575071337722281985
2/ Transaction volume of #NFT trading as compared to the peak is down in value due to price drops of @ethereum and average price but volume is back to March/April levels and recovering cryptoslam.io/nftglobal
3/ Floor prices of major NFT collections like @BoredApeYC are still hovering around 83 eth the difference is that $eth today is 3x lower in terms of USD value as compared to April opensea.io/collection/bor…
4/ Traffic has also become much more distributed with #NFTs being sold and distributed amongst multiple marketplaces and multiple blockchains as well native in-game marketplaces like @TheSandboxGame @cryptopunksnfts which are not all tracked dappradar.com/nft/marketplac…
5/ What has changed is that speculation of #NFTs has reduced due to the market and a lot of NFT purchases are for utility as can be seen in projects like @the_phantom_g which affects trading volume but does not affect user-adoption
6/ Judging an entire market simply by one metric is imperfect you need to take a multifaceted lens eg. @TheSandboxGame has seen record growth in users in its last season despite the market and blockchain wallets continues to rise statista.com/statistics/647…
7/ While the value of many crypto tokens has dropped in recent times, the important long-term indicator that everyone should keep their eyes on is the strong growth of #Web3 something that we remain very optimistic on. ysiu.medium.com/glimpsing-the-…
8/ #web3 investment has and continues to be the most active investment category and is also attracting the best talent in the space despite the "bear" cointelegraph.com/news/web3-domi…
9/ The devastating Dot-com crash of 2000 didn’t kill the burgeoning Internet. The frigid crypto winter of 2018 didn’t extinguish the crypto flame and the current market conditions will not kill #Web3, the #openmetaverse, #NFTs, or crypto. newstatesman.com/science-tech/2…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
