According to the DappRadar platform, 85 percent of DeFi protocol users have interacted with unique NFT tokens in one way or another over the past few months. All this is happening against the backdrop of a new round of growth in the popularity of NFT: in July alone, their collections attracted more than 500 thousand new users .
Recall that NFTs allow you to associate various pictures, video or audio with unique tokens in blockchains of different cryptocurrencies like Ethereum. Accordingly, a certain image has a token in the cryptocurrency network, which is associated with it using cryptography. This means that it is the owner of the token that can be considered the full owner of the object.
We also had time to try out the NFT niche. In particular, in March, we published instructions for publishing unique tokens on the OpenSea platform, which is available here.
And next month we got acquainted with the promising project Polkamonov, now known as Polychain Monsters. These are well-drawn animals with unique characteristics.
And although the previous peak in popularity came in the spring, the current activity of NFT users is breaking all records.
How the popularity of NFT is growing
Here’s a quote from a recent DappRadar analyst report in which analysts share their findings from niche research. The experts are quoted by CryptoSlate.
Based on data from portfolio tracking tool DappRadar, 85 percent of DeFi protocol users have also interacted with NFT. Compared to May, there is an upward trend in popularity of 10 percent, meaning NFTs have again become a hot topic in the industry in the last two months.
Now the NFT niche is at its peak – and it really is. We checked the actual data: over the past weeks, trading volumes with unique tokens have been near the maximum. The previous week was a record one. Then, in the networks of different cryptocurrencies, NFTs were sold for the equivalent of $ 491 million.
According to sources, users and platforms from the United States are paying the most attention to the new trend. However, the growth of hype around unique tokens is also observed in many other countries. In Indonesia, Russia and India, NFTs are more popular than DeFi protocols.
There are more than enough reasons for contacting NFT today. For example, the day before we learned about the story of an investor who bought a crypto bank for $ 443 in 2018. He recently got rid of his own $ 4.38 million acquisition. Read more about the story in a separate article.
In addition, collections of unique tokens are gaining more and more recognition among the most diverse categories of cryptocurrency enthusiasts.
The Bored Apes Yacht Club collection has become the most distributed among the popular series of unique tokens – it is owned by more than 5100 different users and only 4 percent of the collection belongs to its richest customers. Most of the «moneybags» are concentrated in CryptoPunks and Avastars with 9 and 21 percent of collections on the wallets of the richest investors, respectively.
However, over the past two months, there has also been a gradual increase in the number of unique token holders.
We believe that the NFT sphere has not yet reached its peak: the cryptocurrency market has relatively recently moved to growth, and along with it, the desire of newcomers to make money on popular trends is increasing. So it shouldn’t come as a surprise if in the future, «cryptopunks» or other fancy digital images are regularly resold for tens of millions of dollars. At least the current trend hints at just that.