DeFi on the road to recovery? The NFT sector holds its own during the bear market
pictures and games – In a market rather lackluster crypto global, the sectors of the NFT and GameFi hold on and even tend to develop. Not a day goes by without a new partnership announcement or the launch of a project. What vitality! And the last report of DappRadar confirms it in numbers.
Overall volume down, but sales up
DappRadar is a platform that lists the decentralized applications over 20 different blockchains and which allows access to many data such as the number and volume of transactions or the number of users. Last week, the specialized press echoed a report quarterly which takes stock of the NFT and GameFi sectors – blockchain based games and who can make money.
The first thing to note is the decrease overall volume of transactions of NFTs. Between the second and third trimester, it decreased by 67% to rise to 2.71 billions of dollars. That said, over the same period, there was still an increase in 8.3% Sales. This cross dynamic is explained by the fall in value of cryptos in which we express the price of NFT. But, back to our data. We can see that the month of september is slightly better than the month ofaugust with an increase of 10.4% volume and 21% the number of sales. This indicates that interest in NFTs is far from waning.
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Only Strong NFT Projects Survive… With a Few Exceptions
But the data global of course hiding disparities between projects. Side Ethereumbetween the third and second quarters, the transaction volume fell by 76% when the number of transactions increased by 11%. While on the Solana side, over the same period, there is a drop in 63% of transaction volume. But these numbers quarterly do not necessarily reflect reality monthly. Indeed, thanks to the launch of the collection « y00ts ” on Solanathe transaction volume jumped from 96% in a month !
In addition to the new collections and their inevitable fashion effect, these are above all what are called blue chips who hold the market. And, in this area, the house Yuga Labs wins votes with the OtherSide, Bored Ape Yacht Club, Mutant Ape Yacht Club and CryptoPunks collections. These four projects represent almost the half capitalization global NFTs (46.21%)!
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Play-to-earn remains profitable and does not lose players
Finally, the last interesting piece of information in this report concerns the games based on blockchain. The number ofaddresses portfolios increased by 8% to reach 912,000 between the month ofaugust and the month of september. The report concludes on this point:
“This is an optimistic indication for blockchain gaming, as many had speculated that if decentralized gaming apps ceased to be financially beneficial to the ordinary user, they would lose the majority of their player base. . It turned out that was wrong. »
don’t displease to all those who were planning a collapse of the NFT market and who were shouting at the speculation pure, NFTs and video games always have their aficionados. And the successful collections continue to attract stars like everyone else. Of course, some big loss stories will continue to fuel the chronicles. specializedbut fortunately they remain on the margins.
Full of promise, DeFi is in its infancy and still commits some resounding missteps. There are no 36 ways to protect your cryptocurrencies! Keep them safe on a Ledger wallet. Free shipping (commercial link).