Now with July Behind us, we have a full month of trading data to digest from the NFT market. The numbers are mixed. While there are some positive signs from the useless token market, others are decidedly negative. Trading continued, but at what seemed like a very slow pace.
For companies in the NFT space, the news is probably unwelcome. The larger blockchain world is in a period of correction, but seeing key NFT market metrics fall at the rate we’ve seen makes us wonder what could revive interest. It seems doubtful that the period of stimulation that endless monkeys have given us will last forever. But what’s next?
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Let’s take a look at July’s data and dive into what could bring NFTs back to prominence. After all, NFT trading only increased a few times in the first decade: can it surely take off again in the blockchain era – such as it is?
To start, we’ll register on OpenSea, the market leader, and then add to other NFT marketplaces to get a good feel for the untapped token market. After that, we present some ideas that could make NFTs cool again. to make!
Missing July
As the following chart of The Block and CryptoSlam makes clear, the general direction of NFT trading has been negative for some time.
