The NFT report for the third quarter shows that the markets for non-fungible tokens are "in a phase of dynamic, unstoppable growth."

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Non-fungible token (NFT) assets have been in high demand since the beginning of 2021, and statistics for the third quarter show that key indicators have continued to rise. Recently, nonfungible.com released its NFT quarterly report for Q3 2021, showing that active wallets have increased, the number of NFT buyers has risen, and the number of sellers has grown faster than the number of buyers.

NFT activity increases in the third quarter

NFT market actions in the third quarter of 2021 broke previous quarterly records as the demand for NFTs continues in the last months of the year. Researchers from the web portal nonfungible.com published a study covering the third quarter of 2021, and data shows that most indicators are growing. Active wallets, the number of wallets that interacted with an NFT smart contract, for example, increased by 102.52% from 203,719 active wallets in the second quarter to 412,578 in the third quarter.

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The number of NFT buyers increased by 166.73% from 97,658 in the second quarter to 260,489 in the third quarter. Sellers rose from 40,056 to 122,910, recording a much larger increase of 206.84% in the last quarter. The US dollar amount traded in NFTs was $782 million in the second quarter, but it surged significantly to $5.9 billion in the third quarter.

"During the USD trading volume that was traded at an all-time high at the end of August, we saw another all-time high in terms of active wallets," the Q3 report from nonfungible.com notes. "The weekly volume, which was already almost $91 million per week, climbed within 2 months to $1.674 billion." The researchers from Nonfungible.com add:

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"Following this peak, we observe that the weekly volume has stabilized at a level nearly three times higher than its previous level, at about $300 million per week.."

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Regarding loyalty, NFT customers like Metaverse NFTs are the most loyal, followed by NFT collectibles. Sports, gaming, art, and utility NFTs follow collectibles in terms of NFT loyalty. Collectibles recorded the highest sales, accounting for 76% of the revenue, while 9% of the sales focused on art NFTs. Sports would be the least sold NFTs, with only 1% of the sales in the third quarter.

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The Q3 report shows that the "NFT market is evolving rapidly and exponentially."

Among the biggest NFT collector projects are Cryptopunks and Bored Ape Yacht Club (BAYC). Regarding collector NFTs, "the primary market share has more than doubled and accounts for 75% of the total collector market," according to the researchers of the study. "This extremely high rate reflects the relative saturation of this segment: too many assets are issued for too little resale or at lower prices."

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The researcher's report concludes that the market is evolving rapidly and "exponentially." The liquidity is unprecedented, but it's also "a speculative and volatile market as never before," explains the Q3 NFT report. "The recent growth of the NFT industry was almost unbelievable, in just a few months, the billion-dollar mark in traded NFTs was surpassed, followed by billions per quarter and then surpassed by billions per month," the nonfungible.com study shows. The researchers further conclude:

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"According to current figures, the market is in a dynamic and unstoppable growth phase, with no shadows hiding in the corners. However, reality looks a bit different, and we want to clarify that indicators such as traded volume in USD or the number of trades are not the best metrics to watch the market, as they only show the tip of the iceberg."

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Quelle: Bitcoin.com

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