blood in the streets🩸

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.

Credit: AxieWorld

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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