Key Takeaways
- The total value of NFT exchanged in the third quarter of 2021 is more than $10.7 billion.
- The amount of traded NFT is dominated by OpenSea.
- In the last three months, AXS set a new high of 825 percent of its value.
In the last three months, there has been a considerable growth in the quantity of digital arts, gaming items, and collectibles sold.
According to the article, which used DappRadar numbers, the value has climbed from $1.2 billion in the first quarter and $1.3 billion in the second quarter to this record value in the third quarter.
The value could have been higher if analytic sites factored in off-chain transactions like those conducted in auction houses.
According to NonFungible, which only monitors the Ethereum blockchain NFT, the entire worth is $7 billion.
Others are led by OpenSea and Axies
In terms of volume of trade, the NFT marketplace Opensea has been the clear leader among others.
It has also been held responsible for current high transaction costs because the majority of Non-Fungible Tokens employ the Ethereum ERC-721 Standard.
According to Etherscan, Opensea is responsible for up to 22.5 percent of the total share in the last 24 hours, making it the Ethereum platform with the biggest gas creation.
As of yesterday, the platform had generated up to 2,189 Ethereum, or 7.3 billion USD, in network fees.
The volume of gas churned through by OpenSea is still greater than the sum of Uniswap and Tether.
According to the DappRaddar report, OpenSea has handled NFT sales totaling $2.7 billion in the last month.
According to NonFungible, more over half of the NFT traded at the time were worth between $101 and $1000, with the remaining 20% being between $1,001 and $10,000.
Art Blocks, an NFT project headquartered in the United States, saw a significant increase in the fourth quarter. Nonetheless, the Axie Infinity metaverse remains the top seller of the NFT, with over $2.2 billion traded, according to Cryptoslam.
According to the NFT ranking website, there are approximately 2 million current holders of Axie around the world. The NFT generated up to $776 in revenue in the third quarter, according to the DappRadar analysis.
NFT Fever Pushes AXS to a New High
The previous week's launch of Staking incentives for its AXS token resulted in a large gain, bringing its value to $156 on October 4.
AXS is currently at $137, which is 115 percent of its value in the previous week and 825 percent of its value in the last three months.
With such a large increase in the NFT trading value in the third quarter of this year, do you think it will rise even more in the fourth quarter, or should we predict a significant decrease?
