TokenInsight Crypto NFT Industry Report 2021 Apr - July

TI Research

Cryptocurrencies and the DeFi market suffered a huge crush in May, however, the bearish market did not stop the expansion of NFTs. We saw the NFT and Metaverse market rising fast in Q2, which shows a strong momentum especially in July 2021. The total NFT market sales reach $1b as of July 2021. The sale of one single month (July 2021) increased by 428% compared with the whole Q4, 2020.

Game and Collectibles’ popularity has surpassed the Sports and Arts since Q2. Leading by P2E (Play to Earn) game Axie Infinity, GameFi sector is more active than ever before. MUD game like CrytpoBlades, multiplayer builder game like MyNeighborAlice, and RPG game Illuvium get their market-cap increased times or even 100 times in few weeks. 

The most popular NFT collectables are now the Bored Yacht Club rather than CryptoPunks. However, Larva Labs had to bring a black-horse —- Meebits to the market, which has a day sale volume $85m at launching. 

Sports NFTs hotspot seems getting passed over now. Although NBATopshot is still the most popular project in the sports NFT sector, its sales shrunk nearly 40% compared with Q1. The same scenario happened to the art NFT sector. Volume decrease sharply after Beeple’s artwork sales in March.

Ultimately the scarcity and the intrinsic value of ownership that NFT brings to the market depends heavily on the consensus of the community. Although the NFT landscape is expanding fast now, discovering new golden areas, projects qualities are not well and their communities are still small. If this trend continues, the later this year should be a test of spectacular’s expectations.

For the whole report, please download the full report by clicking the button below.




TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

Use TokenInsight App All Crypto Insights Are In Your Hands