Tag Archives: DappRadar
NFT decline in Q3 but on-chain metrics remain bullish
Latest Q3 NFT report from DappRadar (where I work as PR Manager). As NFT News Jerry Christopher nicely titled his coverage:DappRadar’s NFT report predicts a surge in sales by 6% despite the financials slumping in Q3
Though my fav article was Analyzing DappRadar’s Q3 NFT Report by Jon Torrey which highlights that: “The report is chock-full of useful data and upon deeper analysis (explained below) there are some positive trends forming.” And in particular for highlighting the report finding that “the number of unique NFT traders increased by 36% from Q3 of last year”.
The early hypothesis about NFTs was that the “masses” would enter and while prices per transaction would drop, demand would soar when that happened.
Trading NFTs still requires some technical know-how from buying cryptocurrency to setting up and funding a wallet while avoiding scams and hasn’t yet hit a critical scale, but 2.2 million traders (a slight drop from Q2) is still strong.
Regardless of other factors, people actually being interested in trading NFTs over the long-run matters the most. It’s telling that after 75% crashes, there are still millions of people trading NFTs, albeit with fewer dollars / ETH circulating.