NFTek's Weekly 7-Graphs: VI
Bending the market, one Ape at a time
GM sers - it was more less another slow week where we passed the same jpegs among the 10 of us. Yet there was more than enough drama coming outta BendDAO that busied the headlines of crypto media. Along with that it seems Foundations and Looksrare are carving themselves a solid spot by surviving the current bear:
First of BendDAO. On our Telegram channel (https://t.me/NFTek) we shared bunch of threads on it and it takes a minute to explain so won’t go into detail here - tldr: get leverage, get rekt:
2. The fact that there isn’t much liquidity to go around doesn’t help with the above-illustrated loans - though notice almost half of ETH volume is now on Looksrare…
3. While Foundation is firmly the top-dog on the art space on Ethereum:
4. It’s not wash-trading or propped volume either, there’s a solid number of creators who keep churning out some cool stuff there:
5. On the Solana front, when one zooms out, the adoption is undeniable…
6. Nor the amount of $SOL actually used to buy jpegs…
7. Lastly, here’s a snapshot of a typical day at the major metaverse markets - Otherside still dominates, but those few Decentraland sales tend to be double-digits in ETH and usually match both other metaverses in total volume:
To finish off, here’s a bonus chart that’s key to understanding the NFT market, it’s a bit complicated but I trust y’all with figuring it out:
