NFTs in Focus: Crypto Market Report Nov 2020
In this month’s report, we take a closer look at some of the top NFT projects across different categories.
Read the full report here: https://docsend.com/view/gxsvc9hzj5ymcwia
In our report, we look at the highest volume Non-Fungible Tokens (NFTs) over the past month, provide an overview of these projects and how they plan to implement scaling solutions to reach mass adoption.
Three Ethereum-based NFT projects saw volumes of more than $1,000,000 over the past 30 days: Axie Infinity, Sorare and SuperRare.
Axie Infinity
User and transaction growth continues upwards, although cooling off a bit since November’s highs:
The average price of an Axie is currently around $64, much higher than the start of the year where it was below $10:
The Axie Inifinity ERC-20 governance token (AXS) was launched in November and has displayed a strong uptrend in terms of both BTC and USDT:
As the most popular blockchain game, Axie Infinity needs to be able to scale to reach a wide audience. The project are working on their owne Ethereum sidechain, known as Ronin:
Sorare
User and transaction growth for Sorare is robust, with the value of player cards linked to the outcomes of real-world football matches:
Average prices for Sorare cards are also in an uptrend. November saw one of the most expensive Sorare cards ever sold, for 116.15 ETH (~$66,000): a unique Kylian Mbappé card:
To scale the football card game, Sorare are actively participating in the phases of Ethereum 2.0, and are also considering SKALE and zk-Rollups:
SuperRare
The SuperRare marketplace accounts for most of the NFT art volume, reaching just over $1 million in November and approximately $660,000 so far in December:
SuperRare NFTs have an average price of more than $1,000, one of the highest amongst the top-volume NFT projects. Permissionless auctions were introduced in December:
To learn more about the top NFT projects, check out our monthly report here: https://docsend.com/view/gxsvc9hzj5ymcwia.
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