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 meanwhile although, one blockchain nonetheless dominates the NFT scene.
One blockchain to rule all of them
Recent 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 through the first quarter of 2022. This was after a rise of a bit of over 50% within the final 90 days. Different highly effective gamers included Solana, Ronin, Avalanche, Stream, and Polygon.
That being mentioned, Ethereum nonetheless held roughly 84% of the NFT secondary quantity, in line with Messari.
1/ Whereas NFT market every day volumes have dropped in current weeks, the primary quarter of 2022 recorded $10 billion in secondary gross sales quantity, a file excessive.
The highest six NFT platforms had been chargeable 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 up to now 30 days had been all Ethereum-based.
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 would possibly occupy second place? Whereas Solana bagged about $700 million in secondary gross sales through the first quarter of 2022, its 90-day progress 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 occurred this month, however many had been nonetheless stunned 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 progress and aggregation.@opensea has facilitated $4 million in @solana NFT quantity in comparison with $17 million in @0xPolygon NFT quantity for the reason that identical time interval. pic.twitter.com/ngBhsEwnBu
— Messari (@MessariCrypto) April 27, 2022
On that be aware, Messari’s analysis additionally delved into the significance of what it referred to as “static NFTs.” These seek advice from non-fungible tokens which might be seen as luxurious merchandise somewhat than digital instruments which fulfill particular use circumstances. With a market cap of $10 billion, the winner on this class was none apart from NFT-based profile photos, in line with the agency.
Solana reveals some soul
Regardless of a somewhat lackluster debut on OpenSea, 27 April was a somewhat momentous day for OpenSea [Solana] as every day quantity crossed 15,000 SOL for the primary time. At press time, the roughly 16,446.25 SOL on file was price $1,614,363.9.