Crypto-focused people have a hard time getting money from a mass, blasphemous source. Bored monkeys and bleary-eyed, featureless 8-bit faces CryptopunksAccording to crypto analysis data.
Bloomberg It was reported on the data that was initially handled Dune analysis From January to September this year, trading volume for NFTs increased from $17 billion to $466 million. That’s a 97% reduction in nine months. The data is collected from NFT trading platforms including OpenSea, NFTX, LarvaLabs, LooksRare, SuperRare, Rarible and Foundation.
This number puts current transactions below what they were in July of last year, before the NFT craze really started. This information was revealed in previous reports this month by OpenSea, currently the largest NFT trading platform by volume Sales down 75% Compared to two months ago.
What makes this data even more interesting is that while the number of trades has decreased significantly, the total number of traders has not shown a decline, according to data posted by Dune Analytics user. Hildoby. There were over 42,000 total traders in September this year, up from over 66,000 in March, but slightly lower than the 45,000 or so who traded in March.
But users also fell across the board. Dapradar shows the number of users on OpenSea This month it decreased to 5%.
A large part of this decline is due to the decline in popularity of the board-up yacht club, although it still occupies a very large part of the busy mind. Celebrities like Paris Hilton and Jimmy FallonThe one who is not the kingThe fungible expanded universe is now categorized under the likes of Terraforms and CryptoPunks. Bored Apps shows a 1-week trading volume of 3,634 ETH compared to Terraforms 12,202 ETH, according to Hilldobi data. NFT price floor listings show BAYC tokens down more than 8% in market value, although they have seen a bit of volatility in recent days.
Bloomberg says that the ongoing crypto winter has drained nearly $2 trillion from the crypto industry since last May’s crypto crash. That’s certainly true, according to CoinMarketCap data on the likes ApeCoin And Tezos Compared to the spring 2022 highs, both show that they are staying in relatively low-priced dreams.
And although few people are profiting from NFTs, users continue to see major hacks of their accounts. Jason Falovich, a former sports manager turned crypto shill selling NFT projects on behalf of Mark Cuban, says he owns four NFTs. It was stolen from his wallet on Sunday, and the thief appears to have made off with $150,000. Falovich later tweeted that over $1 million in ETH and NFTs had been hacked.
OpenSea is still trying to trade more people, incl Adding Optimism blockchain Network to supported networks. But they have encountered new trading platforms like GameStop’s NFT marketplace. Flow of new users When it came out of beta in July, however, that progress quickly stalled. Daily earnings are reported for the company’s NFT platform It dropped below $4,000. At the end of August.
This news makes many companies’ late attempts to cash in on the NFT craze seem even more ridiculous now. The thing is, many companies are trying to implement NFTs on their platforms by simply not calling them NFTs.. Starbucks He recently talked about his own NFT platform but called them “Stamps”. Reddit announced “Collectible models” in July, but company executives were reluctant to even use it Any reference to NFTs In any promotional material.
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