Avalanche NFT Summer is Coming
During the bear market, lots of NFT collections lost their value as the whole crypto market was in a depression. Over the last 30 days, NFT Market has dropped %30 in value and the volume is still in a downtrend.
The last bull market created amazing NFT projects which are still among the top-tier ones. However, the vast majority of the NFTs which did not have any use case or community support is totally gone for now. While the situation in the NFT market is still not perfectly fine, Avalanche NFT Market is recovering faster than the whole market.
Is it time for Avalanche NFT Season? Let's examine Avalanche NFT Q3 Report by Messari
Avalanche NFT Market in Q3
Messari prepared an amazing report for those who want to have a better idea on what's happening on Avalanche. The Q3 report showed that the performance of Q3 outperformed the performance of Q2 in several parameters.
When you look at the point highlighted by Messari, it is obvious that the downtrend for unique buyers and sellers started a slight bounce from the bottom levels. Besides, the Secondary Sales seems to reach up to $350,000 - $380,000 over the last 4 months. It is also positive to see that the number of unique buyers reached up to 3,000!
All these positive results show that we may see a comeback for the Avalanche NFT market and, if we consider the new projects launched at the top of it, we can say that the NFT market may even exceed the ATH levels of previous bull-run in which Avalanche NFT market was not as popular as Ethereum, Polygon and Solana chains.
Tough Competition among Top Chains
Noone talks about it but FLOW is one of the most popular crypto projects in terms of NFT ecosystem. Look at the chart that proves the competition:
Ethereum is leading the way with no question but the second and third position may be different for the next bull season. Obviously Solana is in the second position in terms of volume as I already mentioned. The performance of Avalanche was, unfortunately, overshadowed by Ethereum and Solana markets. Will it be the same? I think some things may change 😉
When I look at the chart, I see 2 obvious concerns about 2 chains / layer 2 .
- Solana halts are irritating investors and Aptos can replace it considering the "investors" behind.
- Ronin... Hack and the decreasing popularity of Axie will, surely, change its destiny.
In my opinion, we can see top NFT markets like that: 1- Ethereum NFT Market 2- Polygon NFT Market 3- Avalanche NFT Market 4- Flow NFT Market 5- Aptos NFT Market
So far the other existing NFT markets have not come up with hype among crypto people or an attention-grabbing volume. However, we are still waiting for some new projects such as SUI to have a good place in the crypto ecosystem.
Obviously, the incentives on Avalanche ecosystem has yielded good results for the growth of the ecosystem. Subnets, incentive programs and new partnerships are likely to catalyze the performance of the blockchain.
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