Summer 2022: NFT Winter?

Making sense of the data

Source: Dune Analytics
Source: Dune Analytics
Source: Dune Analytics
Source: Chainalysis
Source: NFT Price Floor
  • NFTs are a large market: Total NFT sales will be higher in 2022 than 2021, which means that the NFT market will see year over year growth as well as two consecutive years of multi-billion dollar NFT sales.
  • Demand has not fallen off a cliff: Transaction volumes cooled from all-time highs, but have not fallen off completely and are (so far) staying in line with last year’s volumes.
  • User adoption has persisted: The number of users transacting has remained relatively stable, and the number of total buyers and sellers continues to grow (even if at a slower rate than before).
  • Individual NFTs still hold significant value, even in a bear market: Blue chip NFT prices have come down from all-time highs, but continue to trade at prices in the hundreds of thousands of dollars.

Creator sentiment and outlook

What will the future hold?

  • Products that help NFT creators manage and strengthen their existing communities (Co:Create, Highlight, Portal, etc.)
  • Products that help brands build deeper relationships with and experiences for their customers via crypto-powered commerce (e.g., PERCS**)
  • Products that are creating new utility for NFTs, such as tokenizing physical assets (Courtyard, RareMint, 4K, IYK, One of None, etc.)
  • Products that enable consumers to access financial benefits (e.g., liquidity) with their NFTs (Vera, Arcade, PWN, etc.)

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VC @FirstMark investing in early stage startups | former homes: Handy, Peloton, Bain & Company, Wharton

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Lisa Xu

Lisa Xu

VC @FirstMark investing in early stage startups | former homes: Handy, Peloton, Bain & Company, Wharton

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