Q1 of 2022 shows a decline in the NFT trade leading to another further decline in Q2 of 2022
NFT Trading: A 25% USD Traded Drop
Beginning with the USD trading volume, the NFT market has experienced a decrease of about 25% in terms of trading between Q1 and Q2 2022 with a wide range of about US$8 billion in Q2 2022.
The USD volume traded has reduced and since the beginning of the year, the number of buyers and sellers and sales has dropped. It reduced mainly from collectibles that lost profit except the “blue chip” collections.
In the global NFT market CryptoPunks, Meebits and Bored Ape Yacht Club family account trade 30% of the USD volume.
For the first half moon of 2022 centralization of the market is happening around the projects owned by Yuga.
Q2 NFT Trading Profit & Loss
The reduction of crypto price and the decline in NFT market volumes as made profit-making so difficult in the half moon of 2022.
During this period 46% of profit was reduced for an overall loss that increased by 23% (US$1.8 billion profit for US$1.4 billion loss).
The net trading profit of NFT is US$460M over Q2 2022, a reduced compared to Q1 2022 (US$2,347M).
Every week Collectibles segment is paradoxically on the biggest resale loss rate looking at more than $100 million which at the same time still has profitable sales of the quarter.
Get the full report here.
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