Nansen’s NFT indices quarterly report for the second quarter may please investors

by James · July 15, 2022

In a recently published reportpopular analysis platform Nansen assessed the performance of the NFT market in the second quarter of the year.

Uses its NFT indices, Nansen found that blue chip NFTs recorded an increase in sales volume in June despite a gloomy quarter. In the last quarter, there was a significant development of NFTs as a sector, as a review of monthly returning and first-time buyers of NFTs at ETH revealed continued growth in market participants who actively buy NFTs.

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Blue Chip NFTs took the lead

Nansen noticed the effect of macroeconomic factors on the performance of the general cryptocurrency market and an initial decline in sales volume for most NFT projects. an improvement.

Based on the Blue Chip-10 (ETH) index, Nansen stated that Blue Chip NFTs led this return as early as 5 June.

The Blue Chip-10 index reported an increase of 23.6% at the end of the second quarter, leading the NFT market. In June alone, the Blue Chip-10 index reported an increase of 17.9% in the 30 days. »

Source: Nansen NFT Indexes Performance

Art NFTs for victory

Furthermore, Nansen stated that of all the NFT sectors, which include art NFTs, game NFTs, social NFTs and metaverse NFTs, species NFTs are the most significant rise in June after the bearish race who plagued the second quarter.

It found that art NFTs recorded a 33.1% increase in sales volume in June. The analysis company further added that Generative Art NFTs accounted for most (92%) of the art-related NFTs in the index.

Source: Nansen Art-20 Index

How did the NFT-500 (ETH) perform?

The NFT-500 (ETH) is a Nansen index designed to track the marketing activity of the top 10 NFT collections, weighted by market value.

In the last quarter, Nansen found that the market value of social NFTs among the NFT-500 (ETH) registered growth. On the other hand, the NFTs for games decreased.

Source: Nansen

By measuring the ratio between buyers and sellers’ wallets that traded the NFT collections within the NFT-500 (ETH) index in the last quarter, Nansen found that the number of buyers fell at the end of May.

However, the relationship recovered slightly in June and “remained relatively stable” at the end of the quarter.

Source: Nansen

According to data from NFTGO, the last quarter was characterized by a decrease of 37.34% in total NFT’s market value. Sales volume also decreased by 67.75% in the same period.