NFT Market Analysis 2023

Source: https://www.reddit.com/user/PizzaLater/

The NFT market has proven to be very robust and has increased noticeably in recent months. A detailed look at the statistics on 2023 market trends. Including, volumes, prices, and marketplace share.

The Data Set

The data for this NFT market overview comes from the following Dune dashboards:

• Dashboard by hildobby
• Dashboard by thomas_m

Let’s start with trading volume to kick this analysis off!

Weekly NFT trading volume in USD for past 2 years. Source: dune.xyz

We are still far away from the NFT trading volume we saw in the golden days of 2021–22. But since the beginning of 2023, volume has picked noticeably. The new NFT marketplace Blur is the main driver behind this development. The following chart shows this in detail.

Daily NFT trading volume in USD for past 3 months. Source: dune.xyz

Trading volume on Blur has steadily increased over the last months and surpassed the previous leader OpenSea. Current volume market shares of the top 3 NFT marketplaces are as follows:

• Blur: 62.7%