Everyone knows the bear market has put a dent in NFT trading. But how bad is it?
Here are 5 charts that paint a brutal picture 👇
1/ Billions of investment dollars, hundreds of new startup teams, and dozens of guilds flooded into play2earn driven by the precedent of Axie’s success.
This revenue chart should have a lot of folk sweating.
Note: I'm optimistic that we’ll eventually get multiple fun crypto games. I'm not a fan of the play2earn model.
2/ Secondary market volume has taken a beating
3/ And so has the 1/1 Art market
Credit: cryptoart.io by gigabrain Richard Chen
4/ The number of trading wallets realizing 1M+ monthly profit on OpenSea has fallen off a cliff.
5/ On the bright side, the frequency of NFT sales on OpenSea has stayed relatively stable.
And so has the number of actively trading wallets.
Credit: Richard Chen
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