As the broader market rebounds, is the NFT market following suit?

Recently, the World Economic Forum released its NFT Evolution report, which suggests that NFT has significant value-creating attributes and has the potential to create new and innovative ways to connect with consumers and foster more meaningful customer relationships.

But the long history of volatility in the NFT space highlights the risks posed by a market driven by hype and unsustainable value, and organizations and agencies planning to launch NFT should integrate it into their existing operations and ensure they have a comprehensive strategy in place prior to launch. The Block's data also shows that NFT trading volume reached $224 million in September, down 37% from the previous month, the seventh consecutive month of trading volume contraction, and monthly trading volume has fallen to a two-year low.

However, since October, the floor price of several mainstream blue-chip NFTs has rebounded slightly, and the data of NFT trading platforms and tokens on various platforms such as LOOKS, BLUR, and X2Y2 have also warmed up. In addition, the total number of transactions in the NFT market increased slightly in September, from 483,000 to 504,000. Despite the fact that the NFT track has fallen to the bottom this year, the crypto market has not completely given up on this former investment star.

The following is a comprehensive overview of the current ecological status of the NFT market to help readers clarify the development of this sector.

Mainstream NFT Trading Platform Development Trend Since the beginning of this year, NFT trading platform Blur has performed strongly and successfully stirred up the original NFT market ecology. According to the market share distribution of the above NFT trading platforms, the mainstream NFT markets are OpenSea, LooksRare, Blur, X2Y2 and the new force OKX NFT.

Among the issued platform coins of the NFT market coin price performance is bright, such as LOOKS from the low point of 0.046 on September 27 rose all the way to the high point of 0.078 on October 26, an increase of about 69%; BLUR from the location of 0.152 on October 12 rose to a high point of 0.264 on October 25, an increase of about 73.3%. x2Y2 from the September 28th 0.00908 to a stage high of 0.02115 on October 8, an increase of about 133%.

These three coins all have a small coin price peak on October 18, and at this time the BTC price has not yet broken through the 30,000 U.S. dollars mark, still hovering around 29,000 U.S. dollars.