Regardless of the NFT growth of 2021 making it clear that apes and punks are right here to remain – not less than for a short while longer – NFTs are nonetheless a supply of livid debate and evaluation within the crypto group. Are they investments meant to be flipped, or the digital variations of designer artwork?
In the intervening time although, one blockchain nonetheless dominates the NFT scene.
One blockchain to rule all of them
Contemporary stats are in from Messari Research and there’s no query about it. Ethereum nonetheless wears the NFT crown, seeing about $8.5 billion in NFT secondary quantity throughout the first quarter of 2022. This was after a rise of a bit over 50% within the final 90 days. Different highly effective gamers included Solana, Ronin, Avalanche, Move, and Polygon.
That being mentioned, Ethereum nonetheless held roughly 84% of the NFT secondary quantity, in keeping with Messari.
1/ Whereas NFT market each day volumes have dropped in current weeks, the primary quarter of 2022 recorded $10 billion in secondary gross sales quantity, a report excessive.
The highest six NFT platforms have been liable for 98% of the amount (from blockchains tracked on @cryptoslamio). pic.twitter.com/nLmGjj1Adc
— Messari (@MessariCrypto) April 27, 2022
A fast take a look at CryptoSlam confirms this once more, as the highest 10 NFT collections by gross sales quantity prior to now 30 days have been all Ethereum-based.
Supply: CryptoSlam
But, the all-time winner was Ronin, with Axie Infinity seeing $4,064,275,335 in gross sales at press time.
The battle for second place
Whereas it’s prone to take some time earlier than one other blockchain unseats Ethereum within the NFT market, which challenge may occupy second place? Whereas Solana bagged about $700 million in secondary gross sales throughout the first quarter of 2022, its 90-day development price of three.8% was far behind that of Avalanche’s 551%.
Nevertheless, the scenes unfolding on OpenSea inform one other story as Polygon NFT volumes are nonetheless far increased than these of Solana on the NFT market. In fact, Solana integration solely happened this month, however many have been nonetheless shocked by the lower-than-expected exercise from Solana NFT merchants.
3/ @opensea‘s current integration of @solana is an fascinating case examine in NFT market development and aggregation.@opensea has facilitated $4 million in @solana NFT quantity in comparison with $17 million in @0xPolygon NFT quantity because the similar time interval. pic.twitter.com/ngBhsEwnBu
— Messari (@MessariCrypto) April 27, 2022
On that notice, Messari’s analysis additionally delved into the significance of what it known as “static NFTs.” These confer with non-fungible tokens which can be seen as luxurious merchandise relatively than digital instruments which fulfill particular use circumstances. With a market cap of $10 billion, the winner on this class was none aside from NFT-based profile footage, in keeping with the agency.
Solana exhibits some soul
Regardless of a relatively lackluster debut on OpenSea, 27 April was a relatively momentous day for OpenSea [Solana] as each day quantity crossed 15,000 SOL for the primary time. At press time, the roughly 16,446.25 SOL on report was value $1,614,363.9.
Supply: Dune Analytics
