120 up 158 down, the real NFT market under the Loot phenomenon

The NFT market has been changing with a feeling of rapid change recently, and it is also accompanied by a very dazzling gold attracting power, which has caused various forces inside and outside the circle to discuss this and stop. Some new changes have begun to emerge in this round of popularity, such as Loot, Blood, etc., with a straightforward and unruly trait that has become popular. Of course, how long this heat can last, we still retain Value skepticism. On the other hand, the game represented by Axie Infinity still performs very well. In short, whether “rookie” or “veteran”, they use different characteristics to shape the extraordinary of NFT. WebX Lab uses data enumeration to understand the development status of the world together.

With a monthly income of 800 million US dollars, Axie Infinity refreshes new knowledge in the industry

According to CryptoSlam data, the sales of Axie Infinity NFT, the earning-while-playing project, created 800 million US dollars in revenue in August, with total sales exceeding 1.65 billion US dollars and transaction volume exceeding 3.8 million. The value of the token AXS has also increased from 42 in the past month. Billion U.S. dollars increased to 74 U.S. dollars. Entering September, its transaction volume broke through 4 million, reaching a new high, leading CryptoPunks and NBA Top Shot in the ranking of collectibles transaction volume , which is evident in the market popularity.

New faces emerge on the list. Loot projects are rising rapidly

Beginning last week, the NFT products of the Loot project began to swipe the screen, and a large number of players followed suit. All kinds of extremely simple works were produced and disseminated. According to the data on DappRadar, it can be seen that the most popular collections in the past seven days New faces such as Loot, Mutant Ape yacht Club, and Inertial Moment appeared in the rankings. Among the top 15 seats, the new ones occupy 10 places.

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(Data source: DappRaddars)

Transaction volume and users have not formed a climate Loot’s future needs to be verified

As mentioned above, this does not mean that new projects such as Loot can sit back and relax. From a more detailed data point of view, these new projects have not formed a climate in terms of the number of users and transaction volume, only on the order of a hundred. This does not prevent this type of project from occupying the front row of various lists, but compared to the tens of thousands of Axie Infinity in the game category, it is currently in a completely different echelon. We can see the difference through two pictures. Those who win users win the world, and this popular argument is still of great importance for the future development of any agreement or Dapp.

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120 up 158 down, NFT sector is not fully thriving

According to statistics from Mytoken’s NFT sector, there are already 278 mainstream NFT projects, which are growing at a high rate, and the total market value currently reaches 277.3 billion. Affected by the popularity of NFT, many people mistakenly believe that entering the NFT will win without losing, but the fact is that the number of items that have risen in the NFT sector is completely less than that of those that have fallen. From the perspective of CoinMarketCap’s broad market, the overall market is developing for the better. Based on this comparison, the NFT sector has formed the strongest and always strong, biased towards independent market conditions.

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(Picture source: Mytoken)

The overall data reflects the slow downward trend of the NFT market

According to NonFungible’s recent seven-day data overview, NFT has shown a simultaneous downward trend in transaction volume, transaction amount, and market performance of active wallets. The current data are 63,787 transactions, 521 million U.S. dollars, and 40,918 transactions.

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(Data source: NonFungible)

There is a strong correlation between the three. On August 16, the data of the three parties reached a peak at the same time. After August 30, the synchronization began to fall. Fortunately, the data at this time was still higher than the data line a month ago. However, as far as the current market is concerned, it has fallen by as much as twice the highest point. The analysis believes that this kind of market may be affected by the reverse blood-sucking effect of the mainstream currency market, which has caused the general decline of the NFT sector. The following transaction volume also roughly reflects the overall trend of ups and downs.

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(Data source: NonFungible)

Simultaneously, from a more subdivided field, the data trend chart derived from NonFungible shows that the collections, meta universe, and public affairs are all showing a downward trend, and the game has released an upward signal after a small decline. This also reflects from the side that the overall environment affects the development and prosperity of all segments of the market, but the more user-supported segments, the better the ability to respond to market risks.

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(Image source: NonFungible)

Buyers and sellers see a strong situation in the market

According to official data from Crypto Slam, Axie Infinity, NBA Top Shot and Alien Worlds ranked the top in terms of transaction volume in the last seven days, with 424708, 167335 and 48536 respectively, showing a very large difference in magnitude, and more common The trading volume of is mainly distributed at a frequency of about one thousand. This kind of data shows the cumulative effect of the strong.

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From the data of the buyer’s market, Axie Infinity, NBA Top Shot, and Alien worlds are also in the front row, with 108743, 33908 and 7340 respectively. The rest are like Art Blocks , Mutant Ape Yachat Club, Creature World NFT, Koala Intelligence Agency, etc. They are in the order of four to five thousand, which belong to the second echelon. Generally speaking, there is a strong correlation between the number of transactions and the participation of buyers.

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Nine vertical categories, the next stage or the prosperity of NFT derivatives

Opensea, the leading NFT trading platform, divides NFTs into New (new), Art, Music, Domain Names, Virtual Worlds, Trading Cards, Collections , Sports (sports), Utility (public utilities) nine major sectors, from the perspective of market development, the collection and art sectors have been around for a long time, while the virtual world and trading cards have been touted in this year’s fire NFT. New species have been moving even more recently. From 2017 to the present development context, when the NFT category expands and the product richness reaches a certain level, new NFT derivatives will continue to be created and invented to shape a larger market imagination. This development has already It is verified in the world of DeFi.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/120-up-158-down-the-real-nft-market-under-the-loot-phenomenon/
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