NFT Market Report Teaser

The NFT Market Report

We are in the process of compiling a comprehensive NFT market report, that we anticipate releasing in early Fall 2022.
We are sharing some initial findings and charts that we believe will be of interest to the NFT community, primarily relating to PFPs and Generative Art.
We welcome feedback and comments @nftvaluations

This report is built from a dataset of 347 million NFT valuations.

Executive Summary

Aggregate

Our estimate of the NFT market capitalization of PFP and generative art is 8.07M ETH ($13.53B). This is down from an ETH-based peak of 9.84M ETH ($28.11B) on May 2, 2022 and down from an USD-based peak of 8.11M ETH ($28.54B) on April 4, 2022.

PFP Collections account for 81.1% of the total market cap [6.54M ETH ($10.97B)], Generative Art for 17.23% [1.39M ETH ($2.33B)], and certain other collections for 1.67% [134.82K ETH ($226.04M)]. We intend to add other categories such as 1 of 1 art in the final report for a complete view of the space.

The Top 3 collections by market cap are all Yuga-affiliated collections: CryptoPunks at 1.28M ETH ($2.14B), BAYC at 1.26M ETH ($2.1B), and Otherdeed at 806.43K ETH ($1.35B).

Fidenza (ranked #6 overall) has the highest market cap of a generative art collection with a market cap of 300.2K ETH ($503.33M)

The highest one day sale volume in NFTs happened on May 2, 2022 hitting 140.22K ETH ($390.41M) total volume. The second highest volume was on August 29, 2021 with 89.4K ETH ($290M) traded.

The historical market caps over the last year show strong correlation with ETH, something we hope to explore more in the comprehensive report.

Currently we support 406 collections with valuations supported by more than 700 models and more than 4 million valuations per day.

PFPs

Yuga Labs is currently the dominant NFT “universe” containing the top 4 highest valued collections (BAYC, CryptoPunks, Otherdeed and MAYC).  It accounts for about 60% of PFP market cap and close to 50% of PFP+generative market cap.

• CryptoPunks market cap is 1.28M ETH ($2.14B). This is down from a peak of 2.32M ETH ($7.48B) on August 29, 2021
• Bored Ape Yacht Club market cap is 1.26M ETH ($2.1B). This is down from a peak of 1.93M ETH ($5.46B) on May 1, 2022
• Otherdeed for Otherside market cap is 806.43K ETH ($1.35B). This is down from a peak of 1.18M ETH ($3.36B) on May 2, 2022
• Mutant Ape Yacht Club market cap is 474.07K ETH ($794.85M). This is down from a peak of 921.38K ETH ($2.6B) on May 1, 2022

Rounding out the top PFP collections are the following 4 collections

• CLONE X x TAKASHI MURAKAMI market cap is 350.43K ETH ($587.54M). This is down from a peak of 633.35K ETH ($2.16B) on April 5, 2022
• Moonbirds market cap is 284.24K ETH ($476.57M). This is down from a peak of 512.97K ETH ($589.94M) on July 5, 2022
• VeeFriends market cap is 201.59K ETH  ($337.99M). This is down from a peak of 490.15K ETH ($1.57B) on Sept 10, 2021
• Azuki market cap is 199.13K ETH ($333.86M). This is down from a peak of 489.81K ETH ($1.73B) on April 3, 2022

Generative Art

Art Blocks dominates the generative art NFT space.

All Art Blocks collections in aggregate represent 1.18M ETH ($1.98B).  Recently it has represented about 85% of generative art market cap and 15% of total market cap.  

Below are the generative art collections with the highest market cap as of August 1, 2022:

• Fidenza by Tyler Hobbs market cap is 300.2K ETH ($503.33M). This is down from peak of 475.24K ETH ($1.63B) on 31st of August 2021
• Ringers by Dmitri Cherniak market cap is 191.82K ETH ($321.6M). This is down from peak of 452.52K ETH ($1.36B) on 30th of September 2021
• Autoglyphs (the only non-Art Blocks Collection in the Top 4) market cap is 186.17K ETH ($312.14M). This is down from a peak of 312K ETH ($1.07B) on 31st of August 2021
• Chromie Squiggle market cap is 167.25K ETH ($280.42M). This is down from peak of 299.1K ETH ($839.71M) on 28th of September 2021

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