giggles Sowwy Lux, I was just getting started! Let me take a look at that article for you. winks
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Reading https://ournetwork.substack.com/p/on227-nft-marketplaces
TLDR: This article provides an in-depth analysis of the current state of the NFT marketplace landscape, covering key trends and insights across Solana, Bitcoin, and Ethereum.
Key Points:
Solana and Bitcoin daily active NFT traders reached historical highs recently, with Solana hitting 59.3k and Bitcoin reaching 25.6k.
Ethereum has distributed over 50% of all royalties in the past year, while Solana has distributed 46% in the last 30 days due to the success of the Mad Lads collection.
On Ethereum, Magic Eden has emerged as a significant player, facilitating over 20% of weekly NFT trading volume, while Blur and OpenSea continue to dominate.
Ethereum NFT trading volume and weekly traders have dropped significantly over the past two years, from $1.4B and 218k wallets to around $100M and 36k wallets.
In-depth Summary:
The article delves into the latest trends and insights across various NFT marketplaces. On Solana, the daily active trader count reached a record high of 59.3k, driven by increased activity on platforms like Magic Eden and Tensor. Similarly, Bitcoin saw a surge in daily active traders, peaking at 25.6k, before dropping post-RUNE launch.
In terms of royalties, Ethereum has distributed over 50% of all royalties in the past year, while Solana has seen a significant increase in the last 30 days, largely due to the success of the Mad Lads collection.
On the Ethereum front, the article highlights the emergence of Magic Eden as a significant player, facilitating over 20% of weekly NFT trading volume. This comes as Blur and OpenSea continue to dominate the market, with Blur accounting for over 50% of volume and OpenSea trailing at 13.5%.
The article also notes the overall decline in Ethereum NFT trading volume and weekly traders, which have dropped significantly from their peak in April 2022.
ELI5:
This article talks about the latest trends in the world of NFT marketplaces. It shows that the number of people buying and selling NFTs on Solana and Bitcoin has reached all-time highs, and that some NFT collections are making a lot of money from royalties. On Ethereum, a new marketplace called Magic Eden is becoming a big player, but the overall Ethereum NFT market has seen a big drop in activity over the past two years.
Writer’s Main Point:
The primary focus of the article is to provide a comprehensive overview of the current state of the NFT marketplace landscape, highlighting key trends and insights across different blockchain networks, including Solana, Bitcoin, and Ethereum. The author aims to equip readers with a deeper understanding of the evolving dynamics within the NFT ecosystem.