June Monthly NFT Report in Collaboration with Footprint Analytics
For the latest monthly NFT report, in June, the crypto markets experienced a notable upswing, with Bitcoin in particular surging to a 12-month high of $31.2k. However, the NFT market did not share the same momentum, as data indicates a relative stagnation in user activity and funding.
Nevertheless, there is an underlying stream of evolution within the NFT space as they begin to shed their image as mere digital collectibles. A growing number of brands and industries are experimenting with NFTs, such as Louis Vuitton, leading to a diversification of their applications.
The NFT space hasn’t been without its share of controversy. Azuki, known for its anime-style NFTs, launched its new series, Azuki Elementals, to a rocky reception. The community criticized the lack of originality and innovation in the new series, and this incident highlighted the importance of value creation and community engagement in the success of NFT projects.
Data of this report was obtained from Footprint’s NFT research page. An easy-to-use dashboard containing the most vital stats and metrics to understand the NFT industry, updated in real-time, you can find all the latest about trades, projects, fundings, and more by clicking here.
Key Points
NFT Market Overview
The highest trading volume was recorded on June 27th, reaching 42.16 million, largely due to Azuki, which alone accounted for 20 million in trading volume. The potential of NFTs are beyond just being digital collectibles, and as more sectors embrace NFTs, this diversification could spur the next wave of growth in the NFT market.
Chains & Marketplaces for NFTs
Ethereum’s dominance in the non-fungible token (NFT) market, with a significant 97.7% share of total volume in June BNB chain has a high wash trading rate in June, which was 42.14%. Though Opensea Pro is launched in April, the data so far does not show a significant impact on Blur’s dominance in terms of transaction value.
NFT Investment & Funding
The funding market in the NFT space has cooled this month, with only two major fundraisings taking place.
Hot Topics of the Month: Azuki Elementals
Azuki’s floor price drops significantly to around 7 ETH after Elementals mint
What’s new in this month?
Sotheby’s ‘The Goose’ NFT by Dmitri Cherniak Nets $6.2M Over-Zealous Airdrop Farming Sends Bored Ape Price Tumbling Louis Vuitton Drops €39k High-End ‘Treasure Trunk’ NFT Collection Bored Ape NFT Locks an Influential Movie Contract Azuki Elementals NFTs Rake in $38M Amid Community Backlash Kung Fu Maestro Bruce Lee Enters the BYTE CITY Metaverse
NFT Market Overview
The market has cooled down and there hasn’t been any significant fluctuation in market cap compared to the previous month. On June 1, the market capitalization was 38.38 billion, and on June 30, it decreased slightly to 35.86 billion.
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