A new report by DappRadar suggests that The ongoing crypto market downturn has dampened the excitement of the NFT industry, while larger projects such as Yuga Labs have managed to keep their floor prices intact.
The four major NFT projects, CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club and Otherdeed for OtherSide, traded for more than $160 million in July.
Yuga Labs had less than 20% of the total NFT market share during the July 2022 consolidated trading volume.
However, a report from DappRadar also shows that the NFT market is shrinking, with trading volumes down 25% compared to the previous month.
Additionally, the number of users is down 8% year over month, with the popular NFT market OpenSea still the dominant market.
However, the company’s market share dropped from 84% in May to 58.6% in July.
Solana’s x2y2, Magic Eden, and Ethereum’s Foundation are among the rising volume competitors.
refer : LINK
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