ReportWire

Tag: Non-Fungible Token (NFT)

  • NFTs Are Back: DappRadar Reports Record 18 Million Sales in 2025’s Biggest Market Comeback

    [ad_1]


    NFT transactions skyrocketed to record highs this year as the sector sees strong engagement from existing traders.

    The non-fungible token (NFT) market is witnessing a strong rebound in activity this year, as sales volume has reached levels unseen since 2022, according to a new report from DappRadar.

    While overall trading volumes remain relatively subdued due to lower average prices, the number of transactions has surged sharply throughout 2025.

    From Slump to Surge

    In the first quarter, 7 million NFT sales were recorded, rising to 12.5 million in the second quarter. The momentum accelerated further in Q3, with over 18.1 million NFTs sold, representing a 45% jump from the previous quarter, and generating $1.6 billion in trading volume.

    Despite this surge in transaction counts, DappRadar stated that actual user adoption remains modest. The number of unique wallets trading NFTs rose from 1.66 million in Q1 to 2.14 million in Q3, a comparatively smaller increase than the spike in sales. This means that individual wallets are trading more NFTs on average, jumping from roughly 4.2 per wallet in Q1 to 8.4 in Q3, which indicates that existing participants are becoming more active rather than new users entering the market.

    Among NFT categories, gaming has been the notable laggard. DappRadar reported a 17% drop in trading volume and a steep 32% decline in the number of gaming-related NFT transactions over the past quarter.

    On the other hand, the sports NFT sector has seen an impressive revival, as trading volume of this cohort was up by 337% to $71 million while sales count soared 143% to 4.1 million. The surge is largely attributed to Sorare, the fantasy sports platform offering digital collectibles across football, basketball, and baseball. The platform’s success, buoyed by the launch of new sports seasons, has helped offset weakness in other sectors.

    Airdrops and OG NFTs

    The recent uptick can also be linked to strategic campaigns and revived interest in older projects. A major contributor has been OpenSea’s campaign ahead of its anticipated token launch, which rewarded active traders and incentivized frequent transactions. This initiative encouraged users to trade lower-value NFTs to qualify for rewards and boosted the platform’s overall activity.

    You may also like:

    As a result, OpenSea’s sales count climbed 29% in Q3 to 9.27 million assets sold.

    Simultaneously, profile picture (PFP) collections have regained prominence, led by blue-chip projects like CryptoPunks, Bored Ape Yacht Club (BAYC), Moonbirds, and Pudgy Penguins. Trading volume for PFPs rose 187% quarter over quarter to $544 million, amidst renewed collector confidence.

    Adding to the resurgence, Yuga Labs streamlined its portfolio to focus on BAYC, Mutant Ape Yacht Club (MAYC), and Otherside during the same period. Meanwhile, Moonbirds, now under Orange Cap Games, has emerged as Q3’s standout revival, recording 8,311 NFT sales worth $88 million, owing to the fresh momentum building around its upcoming BIRB token launch on Solana.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    [ad_2]

    Chayanika Deka

    Source link

  • Is the NFT Market Making a Comeback? Here’s What Data Shows

    [ad_1]

    The NFT movement appears to be gaining momentum once again, projected to grow substantially over the coming years, driven by increasing adoption levels.

    Certain metrics indicate a steady rejuvenation, but we remain far from the glory years experienced not long ago.

    Forecasted for Growth

    According to a report from analysis platform Coinlaw.io, the non-fungible token (NFT) market is showing signs of a revival. It is projected to grow by hundreds of billions by the end of the decade, by moving away from speculative art to an interconnected ecosystem spanning fashion, gaming, and even legal matters.

    Current projections see the 2025 global NFT market to reach over $60 billion, and with a compound annual growth rate (CAGR) of almost 42%, to exceed $247 billion by 2029, of course, depending on adoption trends and market conditions.

    Source: Coinlaw.io

    Leading trends remain gaming and digital art, representing 38% of global NFT transactions and 21% market size, respectively. Some upcoming movements, such as real estate, surpassed $1.4 billion in volume, and phygital tokens, linked to physical goods, saw a 60% rise in transaction volume, led by luxury brands.

    Institutions and venture capital (VC) firms also seem to be drawn to this market, with the latter investing $4.2 billion in NFT projects for this year alone. Financial giants like Goldman Sachs and JPMorgan have explored tokenization for digital asset collateralization, while firms like SoftBank and Sequoia Capital are expanding into tokenized digital assets.

    Moreover, there has already been an application by the asset manager Canary Capital for a Pudgy Penguins ETF, which would potentially hold a mix of the PENGU meme coin and Pudgy Penguins NFT collection.

    Non-fungible tokens also have a firm grasp over industry dominance, specifically concerning unique active wallets (UAW) by having a bigger share than AI and social decentralized applications (dApps).

    Source: DappRadar

    Trading Volume And Sales

    NFT sales have been gradually increasing since the start of the year, while trading volume experienced a dip, with roughly a 2M jump and $419 million drop, respectively.

    Source: DappRadar

    As per the chart, July and August saw the strongest rebounds since the mid-year slump, adding roughly a billion to the NFT market cap and increasing wallet count by 90,000.

    While there are signs of a recovery, this market niche is still far from the 2022 peaks it saw of roughly $24.7 billion market cap, with current levels being just shy of $6B, a substantial drop of 76%, as per data at print time from CoinGecko.

    Source: CoinGecko
    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    [ad_2]

    Dimitar Popov

    Source link

  • XRP Ledger Hits Record RWA Market Cap as Big Players Join the Blockchain Boom

    [ad_1]

    The blockchain behind the XRP cryptocurrency – XRPL – finished the second quarter of 2025 at a record RWA market cap of $131.6 million. Messari’s data revealed that the growth was fueled by newly issued assets announced at XRPL Apex in Singapore.

    Some of the most important additions included Ondo’s OUSG tokenized treasury fund, Guggenheim’s digital commercial paper, and Ctrl Alt’s tokenized real estate.

    XRP Ledger Sees Mixed Quarter

    The surge in real-world assets on XRPL set the stage for broader network activity, but despite these high-profile launches, daily engagement metrics highlighted a contrasting slowdown.

    In the second quarter, most network metrics showed declines, but the notable exception was total addresses, which grew 4% quarter-on-quarter from 6.3 million to 6.5 million. Average daily active addresses fell sharply by 41.2% to 75,200, while total new addresses dropped 46.2% to 305,800, as the network witnessed a reduced engagement from both new and existing users.

    Despite this quarterly slowdown, year-over-year figures remain strong, with average daily active addresses up 165.5% and new addresses increasing 219.8%. Average daily transactions on the network also declined 20% in Q2, recording 1.6 million.

    The stablecoin metrics, on the other hand, stayed strong. At the end of Q2, RLUSD, Ripple’s USD-backed stablecoin, reached a market cap of $65.9 million on the XRPL. This figure represented more than a 49% increase quarter-on-quarter as RLUSD cemented its position as the largest stablecoin on the network.

    Other launches during the same period included Circle’s USDC, Braza Group’s USDB, Schuman Financial’s EURØP, and StratsX’s XSGD, which has expanded the XRPL stablecoin ecosystem.

    Meanwhile, NFT activity on the network staged a strong recovery in Q2 as daily average total transactions climbed 226.9% from 15,400 to 50,400. The primary driver was a tenfold jump in NFT minting, which rose from 3,400 to 37,800 per day, while other NFT transaction types remained mostly unchanged.

    Interestingly, NFTokenMint reemerged as the dominant transaction type after a quieter Q1 2025, similar to its surge in Q4 2024. By quarter-end, the XLS-20 standard accounted for nearly 13.5 million minted NFTs, including 3.4 million from Q2 2023, 1.8 million from Q4 2024, and 3.4 million from Q4 2023.

    XRP’s Jaw-Dropping Upside Potential

    Its native token, XRP, fell below the crucial level of $3 after a minor slump of 1.51% over the past day. Despite the setback, a new regression model has sparked speculation that the altcoin could one day reach $200.

    Analyst EGRAG CRYPTO applied a linear regression on a logarithmic scale, noting an R-squared value of 0.84754, which indicated strong historical correlation. The model outlines three potential outcomes: $18, $27, or a dramatic $200 overshoot, depending on XRP’s interaction with its historical price channel.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    [ad_2]

    Chayanika Deka

    Source link

  • Top OpenSea Employees Step Down Amid Regulatory and Financial Troubles

    Top OpenSea Employees Step Down Amid Regulatory and Financial Troubles

    [ad_1]

    OpenSea, one of the most prominent NFT marketplaces, has experienced a significant downturn in its overall business operations due to several factors, including low engagements in the sector.

    Over the past few months, some top employees have left the company to work elsewhere as the firm’s troubles continued to pile up. With a significant reduction in the existing workforce and other concerns, the future of the once-giant NFT marketplace is now uncertain, raising concerns about its long-term viability.

    OpenSea Losing Its Executives

    Four OpenSea executives have resigned over the past three months from OpenSea. These include the former COO, Shiva Rajaraman, the former head of business and corporate development, Jeremy Fine, and the lead lawyer, Karen Kreuzkamp. The firm’s former vice president of finance, Justin Jow, also left earlier this year.

    Following their departure, they have secured employment in other prominent companies, as revealed on their LinkedIn pages. Rajaraman, for example, currently works at Uber. Fine joined the Growth and Product Partnerships at OpenAI. Jow secured a job at Scale AI. Kreuzkamp was employed at Tools for Humanity, the firm behind the iris-scanning crypto project, Worldcoin.

    In addition to these four, one of OpenSea’s engineers, 0age, left the NFT marketplace for Uniswap, the Ethereum-based decentralized exchange.

    Challenges Facing OpenSea

    Although the NFT market played a key role in driving the 2021 bull run, engagements with the sector have drastically declined over the past two years. Like every other NFT platform, OpenSea faced a noticeable downtrend in market activities, resulting in reduced revenue for finance operations.

    On the other hand, new competitors like Blur and Magic Eden have taken the spotlight. These platforms provide lower fees and new features, attracting more users and creators. OpenSea now faces the challenge of reclaiming its lead in a crowded and competitive space.

    Additionally, the firm is experiencing increased legal and regulatory scrutiny, including an investigation by the United States Securities and Exchange Commission (SEC) into whether the NFTs on its platform are unregistered securities.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    [ad_2]

    Mandy Williams

    Source link

  • Greg Solano Set to Lead Yuga Labs as New CEO

    Greg Solano Set to Lead Yuga Labs as New CEO

    [ad_1]

    Greg Solano, widely known by his pseudonym “Garga” and co-founder of Yuga Labs, has announced that he will take over as CEO.

    This announcement comes as Daniel Alegre, former COO of Activision Blizzard and CEO of Yuga Labs, steps down after a tenure of approximately ten months.

    Crypto-Native Focus

    The leadership transition was revealed through a post on X, wherein Solano expressed his enthusiasm for steering the company into its next phase.

    “I am stepping back in as CEO of Yuga Labs,” Solano stated. “Wylie and I are grateful for all the contributions and operational rigor Daniel has brought to the company and appreciate his thoughtfulness and mentorship over the past year. I’m reinvigorated to be taking the reins for our next chapter.”

    In response to the post, Alegre expressed gratitude to the Yuga Labs team for their collaboration during his tenure as CEO and expressed confidence in the company’s promising future.

    Speaking on Yuga Lab’s future, Solano outlined key focus areas for the company, emphasizing a shift towards a more crypto-native approach across all operations.

    Under Solano’s leadership, Yuga Labs aims to reinvigorate its flagship project, the Bored Ape Yacht Club (BAYC), by fostering greater autonomy and agility within the team. Solano highlighted the importance of community engagement and collaboration, citing recent successes such as ApeFest and Made by Apes as indicators of BAYC’s potential as a cultural phenomenon.

    To facilitate this vision, a new subsidiary, “BAYC LLC,” has been established within Yuga Labs to oversee all aspects of the BAYC ecosystem. Solano expressed confidence in the existing team while hinting at the recruitment of key roles to strengthen BAYC’s operations.

    Otherside and Gaming Initiatives

    Solano outlined plans to elevate Otherside as the premier destination within the web3 space. Describing it as the “living room of web3,” Solano emphasized the importance of community engagement in shaping Otherside’s development.

    He pledged increased transparency and communication, starting with the upcoming “Apes Come Home” event as part of a broader effort to involve the community in the platform’s evolution.

    Solano also emphasized Yuga Labs’ commitment to gaming, advocating for a balanced approach that combines mass-market appeal with crypto-native mechanics. This strategy, he explained, aims to attract a diverse user base while leveraging blockchain technology to create innovative gaming experiences.

    He also hinted towards upcoming projects like Dookey Dash and collaborations with partners like Farawaygg as examples of this strategy in action.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Wayne Jones

    Source link

  • VanEck Predicts No BTC-ETH Flippening, Doubles Down on Post-Halving Scene

    VanEck Predicts No BTC-ETH Flippening, Doubles Down on Post-Halving Scene

    [ad_1]

    Investment management firm VanEck has unveiled its 2024 predictions, forecasting not only record-breaking highs for Bitcoin but also an anticipated peak in the NFT market, signaling a significant transformation in the industry.

    The introduction of spot Bitcoin ETFs is expected to align with the prolonged anticipation of a U.S. recession, while the forthcoming halving event may not generate as much impact as previously anticipated.

    New Peak for Bitcoin But No Flippening for Ethereum in 2024

    Bitcoin may hit an all-time high in Q4 of 2024, according to VanEck’s prediction. With increased optimism for the dismantling of the SEC’s adversarial regulatory stance, Bitcoin could reach a new high on November 9th, exactly three years from its last peak in November 2021.

    Ether is not expected to surpass Bitcoin in performance until post-halving and may outperform for the year, a complete, however, “flippening” is not anticipated. Despite posting a strong performance in 2024, Ether is projected to experience a decrease in market share as other smart contract platforms, like Solana, gain traction due to a clearer and less uncertain scalability roadmap.

    Meanwhile, the introduction of the first-ever spot Bitcoin exchange-traded funds (ETFs) could potentially coincide with the US recession.

    VanEck also said the 4th Bitcoin halving slated for April 2024 will occur with minimal drama. As the issuance of new coins is halved, unprofitable miners are likely to disengage, allowing those with cost-efficient power sources to gain a larger market share.

    Despite this, the public markets are expected to experience minimal distress owing to the improved financial positions of listed miners, currently controlling approximately 25% of the global hash rate. Post-halving, it is expected that at least one publicly traded miner will experience a tenfold increase by the end of the year.

    Turning Points for Binance and DEXes

    Following Binance’s $4 billion settlement with US regulators, it is anticipated to relinquish its position as the top centralized exchange by volumes. Competitors such as OKX, Bybit, Coinbase, and Bitget, backed by substantial funding, are poised to contend for the leading spot.

    As Binance undergoes a rigorous three-year DOJ examination, VanEck predicted that Coinbase’s international futures market would thrive, surpassing a daily volume of $1 billion, a significant increase from approximately $200 million per day in November 2023.

    The market share of spot cryptocurrency trading on Decentralized Exchanges (DEX) is expected to reach unprecedented levels, driven by the enhanced on-chain trading experience facilitated by high-throughput chains like Solana.

    Simultaneously, the adoption of significantly improved wallets, which integrate “account abstraction” as a crucial feature enabling automated payments, will contribute to more users engaging in on-chain transactions and embracing self-custody solutions.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Chayanika Deka

    Source link

  • Layer 2 and DeFi Shine in 2023 as NFTs Lose Their Luster: Nansen

    Layer 2 and DeFi Shine in 2023 as NFTs Lose Their Luster: Nansen

    [ad_1]

    In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses.

    Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users alone outnumbered NFT and layer 2 scaling users by more than twice, solidifying the sector’s central role in on-chain activities.

    ‘Layer 2, Bridging, and Infrastructure’ Sector Booms

    In terms of new users, layer 2 activities have seen a notable uptick. Nansen’s report states that this indicates a shift towards scalability solutions, with new users increasingly embracing layer 2 platforms as their initial choice.

    The transition also aligns with a broader trend where the user counts for layer 2 and scaling have seen substantial growth, driven by the adoption of more efficient layer 2 infrastructure and the potential for airdrop farmers.

    A closer examination of entity interactions confirms these trends. While nearly all sectors have experienced growth in year-to-date incoming transaction counts, the ‘Layer 2, Bridging, and Infrastructure’ category has led the way with a remarkable 149.28% increase.

    NFT Sector on Decline, but DeFi Remains Resilient

    NFT users surpassed DeFi users at times in 2022 before starting a sharp decline from the start of 2023. In fact, the daily user count in this sector has taken a plunge by over 50% since the beginning of the year.

    This is in contrast to the layer 1/scaling users, which significantly rose in March, coinciding with zkSync’s public mainnet launch and Arbitrum’s airdrop, before retracing its steps to previous levels in May.

    Subsequently, the number of users in the “scaling” category saw another increase and has remained relatively stable since June. It’s important to note that the DeFi user group is the most dominant among these clusters.

    “Additionally, another interesting observation of the above is that the DeFi user count seems to have reached a ‘cruise’ speed, sitting slightly below bull market levels.”

    In contrast, the ‘NFT, Gaming, and GambleFi sector’ has seen a 61.4% decline in activity, mirroring the drop in new NFT-focused users.

    Moreover, the number of users engaging with NFT entities has continued to decline throughout 2023, underscoring the decreasing appeal of the NFT sector to new wallet holders. At the beginning of the year, NFTs constituted more than 24% of initial actions by new users, but by October 12th, this figure had dwindled to slightly above 6%.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    [ad_2]

    Chayanika Deka

    Source link