NFT Market Valuation

In this weekly report, we have noticed the NFT market behavior in terms of transaction volume over the last 12 months, indicated it reached the lowest trading volume since July 2021.

Important to mention that even operating at lower levels, we have the main marketplace players operating from 1.5 to 4 times in volume compared to the lower in July 2021. The negative highlights of these operations are Rarible (rarible.com) and, Foundation (foundation.app), struggled with the market downturn.

Since we mentioned the performance of the main marketplaces, let’s visualize the behavior of the marketshare. Despite losing the highlitghts, the OpenSea platform has the highest volume of transactions, reached $38.8 billion, as well as the second place LooksRare $26.2 billion that, in the past, achieved an incredible launch performance through an Airdrop at the beginning of the year, while LarvaLabs follows with the sales of CryptoPunks and Meebits. Their shares together represent 98.7% of the total market.

Buying and selling strength is still practically at the same level since June, thus indicating a cooling point in the market. When rating volatility, social media and, google search results point out that the market is neutral with short variation.