You thought NFTs were finished, huh? Nah, they just took a breath and came back swinging.
The digital collectible scene is roaring back to life, with record transaction numbers that make last year look like a nap.
DappRadar’s latest intel shared that NFT sales are exploded, hitting over 18 million in Q3 alone, bringing in a cool $1.6 billion.
Double activity
Let’s rewind a bit. The year started soft with 7 million sales in Q1, then doubled up to 12.5 million in Q2.
Then Q3 hit 18.1 million sales, a 45% jump from the previous quarter. But this boost isn’t thanks to a flood of new players.
Nope, it’s the same people, wallets in hand, buying and selling like they’re at a digital auction on steroids.
The number of unique wallets trading NFTs rose modestly from 1.66 million to 2.14 million between Q1 and Q3, but these wallets doubled their activity, flipping NFTs at twice the speed.
OpenSea airdrop
Industry experts say, not all NFT genres got the memo though. Gaming NFTs took a bit of a backseat, with trading volume down by 17% and transaction numbers plummeting 32%. Ouch.
Sports NFTs strutted their stuff with a 337% volume spike to $71 million and 4.1 million sales, up 143%.
The fantasy sports giant Sorare deserves a standing ovation here, fueling this revival with fresh football, basketball, and baseball seasons.
But you may ask why the renewed buzz? Now, experts say partly because OpenSea tossed some candy to its traders, an airdrop campaign rewarding active userss before their token launch, sparking a flurry of low-value NFT trades to snag rewards.
This gravy train sent OpenSea sales up 29% in Q3 to 9.27 million. Collectors are back and buying with appetite.
Adapting
Yuga Labs trimmed its portfolio, focusing laser-like on BAYC, Mutant Ape Yacht Club, and the mysterious Otherside, while Moonbirds, now flying under Orange Cap Games’ wing, clocked in an $88 million sales spree, riding hype waves ahead of its BIRB token launch on Solana.
So, no, NFTs aren’t a relic. They’re like shapehifter beasts adapting and thriving.
While new blood dribbles in slowly, the veterans keep trading like maniacs, powered by sports thrills, old favorites getting their groove back, and cheeky token giveaways.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
