NFT Market in Q3/2022 - Useful Information:

The NFT market in Q3/2022 is a prosperous time for the project, with many new improvements in the platform, roadmap, and human resources to better prepare for the next cycle. Let's find out what's new in this project.

Overview of the NFT Market:

The cryptocurrency market fell from $3 trillion to under a trillion by 2022. The non-financial exchange market is not exempt.

Profit and trade volumes in NFT:

In Q2/2022, compared to Q1, it shows that USD trading volume has decreased by 25%. In addition, trading volume decreased by 75% in Q3, representing fewer NFT-related transactions between July and September 2022.

In addition, sales market volatility decreased by 5%, with Q2 sales falling from 11.45 million to 10.90 million in Q3 regarding Yuga Labs metaverse and PFP transaction volumes. BAYC fell from $2 billion to $182 million in the third quarter. NFT agents in Q3/2022 were also less profitable, with $2 billion to $326 million in the second quarter, compared to the second quarter, with total losses reduced from $1.4 billion to $780 million.

NFT price and holding time:

The average price of NFTs and retention time has dropped to $150 in Q3 from $600 in Q2. Active wallets fell slightly by 17% in Q3 to around 120,000 daily transactions. Moreover, the holding time of NFT increased somewhat by about 13%, which shows that the market has a downtrend affecting the price and limited liquidity.

NFT Collection:

Collections account for about 60% of the market and within that, with over $537 million in trading volume done in Q3/2022. However, the number of active wallets is down by 52%, meaning that collectible NFT earnings wallets would instead hold than sell at a loss. The most significant volume of transactions focused on the Art segment reached about 14%. Utilities reached nearly 13% in Q3. Only the Utility segment is likely to stand out in the future with a +44% increase in asset volume and a +5% increase in liquidity.

These are the statistics of the NFT Market in Q3/2022; we hope to provide you with helpful information to keep an eye on NFT Market.

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