Inside NFTs – Lazy Edition – NFT Market Review LIVE

**Measuring the Value of the NFT Market: A Comprehensive Analysis**

*Subtitle: Exploring the Performance of Different Blockchains and the Impact on Global Sales*

**Introduction**

In this article, we will delve into the current state of the NFT market, analyzing the performance of various blockchains and their impact on global sales. We will examine the recent trends and fluctuations in the market, providing valuable insights for traders and enthusiasts alike. Additionally, we will highlight the significance of certain collections and artists, shedding light on their influence within the NFT space.

**Measuring the Value of the NFT Market**

The NFT market is a dynamic and ever-changing landscape, with various factors influencing its overall value. To gain a comprehensive understanding, we will begin by examining the performance of different blockchains.

* Ethereum: Down 0.43%
* Solana: Down 0.57%
* Polygon: Up 4.61%
* Cardano: Up 0.02%

While Ethereum has experienced consistent decline over the past few months, Cardano has been bucking the trend, showcasing its potential for profitable NFT trading. The performance of these blockchains is crucial in determining the profitability of NFT investments.

**Global Sales Analysis**

Global sales in the NFT market have recently seen a significant decline, raising concerns among traders and enthusiasts. Yesterday’s sales amounted to just over eight million dollars, a shockingly low figure compared to the previous highs of 20 to 50 million dollars. This decline in sales can be attributed to various factors, including low trading volume and market fluctuations.

Furthermore, the number of sellers and buyers has also decreased, with only 48,000 sellers and 45,000 buyers recorded. This decline in activity is indicative of the current state of the market, with transactions falling by almost 100,000 in a single day. The negative profits from these trades, totaling 4.6 million dollars, highlight the challenges faced by traders in the current market conditions.

**Weekly Sales Analysis**

Taking a broader perspective, we analyze the weekly sales data to gain a more comprehensive understanding of the market. Currently, the weekly sales amount to 68 million dollars, with the data period ending in 11 hours. While this figure is expected to reach 70 to 75 million dollars, it still falls short of the previous highs of 88 million dollars.

This level of sales puts us in the range of June 2021, indicating a significant decline compared to the peak periods. However, it is important to note that the second half of the year is traditionally slower for NFT sales. Despite this, the current figures are still surprising, and it remains to be seen if the market will reach the lows of early January 2021.

**Profits and Losses in the NFT Market**

One crucial aspect of the NFT market is the profitability of trades. The negative profits of 4.6 million dollars highlight the challenges faced by traders in the current market conditions. These losses can be attributed to individual sales, such as a recent sale of an NFT for 53,000 dollars, resulting in a loss of 32 ETH compared to its previous sale of nearly half a million dollars.

Additionally, collections like Board Apes and historic boggles have seen significant losses, further contributing to the negative profits in the market. The cumulative effect of these losses emphasizes the need for careful analysis and strategic decision-making when trading NFTs.

**Top 10 Collections and the Future of NFTs**

The top 10 collections in the NFT market provide valuable insights into the future of the industry. D-Market, Board Apes, Mutant Apes, God’s Unchained, Art Blocks, The Rare, DraftKings, Play NFT, D-Gods, and Oni Only One Force are currently dominating the market.

Notably, collections like DraftKings and D-Market represent the future of NFTs, with their affordability, high volume, and utility. These collections are bear market resistant and offer unique opportunities for traders and collectors. The potential for these collections to surpass Ethereum in market dominance is a significant development to watch.

**Art News: Rafik and Trevor Jones**

In the realm of art, two notable artists have made waves in the NFT space. Rafik, the artist behind Winds of Yawanawa, has recently gained recognition for his artwork being featured on the Las Vegas sphere. This development not only showcases the artist’s talent but also highlights the growing interest in NFT art among traditional artists.

Similarly, Trevor Jones, the artist behind the Bitcoin angel, has been hosting an annual party at a castle in Scotland. This event brings together collectors and art enthusiasts, bridging the gap between the online and offline art world. Such initiatives contribute to the growth and acceptance of NFT art within the broader artistic community.

**Conclusion**

The NFT market is a complex and ever-evolving landscape, influenced by various factors such as blockchain performance, global sales, and individual collections. By analyzing these aspects, traders and enthusiasts can gain valuable insights into the market’s current state and make informed decisions. Additionally, the growing presence of NFT art in traditional art spaces signifies the continued expansion and acceptance of this innovative medium.

**FAQs**

**1. How are the profits and losses in the NFT market calculated?**
Profits and losses in the NFT market are calculated based on the difference between the purchase and sale prices of an NFT. If the sale price is lower than the purchase price, it results in a loss, while a higher sale price leads to a profit.

**2. Which blockchains are currently performing well in the NFT market?**
While Ethereum has experienced a decline, Cardano and Polygon have shown promising performance in the NFT market. Solana also remains a popular choice among traders and collectors.

**3. What is the significance of collections like DraftKings and D-Market in the NFT market?**
Collections like DraftKings and D-Market represent the future of NFTs, offering affordability, high volume, and utility. These collections are bear market resistant and have the potential to surpass Ethereum in market dominance.

**4. How are NFT artists gaining recognition in traditional art spaces?**
NFT artists like Rafik and Trevor Jones are gaining recognition in traditional art spaces by showcasing their artwork in prominent locations and hosting events that bridge the gap between the online and offline art world. This exposure helps to legitimize NFT art and attract traditional artists to the blockchain.

**5. How can traders and enthusiasts stay updated on the NFT market?**
Traders and enthusiasts can stay updated on the NFT market by following reliable sources of information, such as daily update videos and social media accounts dedicated to NFT news. Platforms like Twitter and YouTube are great resources for staying informed about the latest trends and developments in the market.