Dibbs analyzes OpenSea collection data; Reveals 64 percent of NFTs today have two or more tools
While profile picture (PFP) collections have dominated trading volumes for OpenSea’s top 100 collections of all time, content-based collections are showing the most recent growth
LOS ANGELES, January 5, 2023–(BUSINESS WIRE)–Dibbs, the world’s go-to Web3, today announced a set of NFT tool data and insights after comparing trading volumes from OpenSea’s top 100 pools of all time with those over a 30-day period in Q4. By analyzing each collection to determine how tool types are evolving, the data revealed a growing interest in NFT tool types beyond PFPs, particularly content, events and distribution of rewards.
Today, content is the fastest growing tool for NFTs. 64 percent of NFTs have two or more tools, accounting for 73 percent of all trading volumes. As seen by the growing popularity of tools beyond PFPs, this data means that multi-tool NFT pools trade at higher values and faster than single-tool pools – which account for just 28 percent of trading volume. The data suggests that future collections will need to offer more tools to keep up with the competition.
Other interesting findings include a growing interest in NFTs that have both physical and digital tools. During the most recent period analyzed, more than 25 percent of NFT sales volumes have been for collections of both physical and digital tools, compared to 14 percent of all-time sales. This insight is consistent with a recent NFT Sentiment Report conducted by Dibbs using its own market data which found that 84 percent of NFT users would purchase NFTs if they could be redeemed for physical items.
“Many think of NFTs as a one-hit-wonder, where value has only been present in PFPs or other digital content-related opportunities, but in fact the NFT market is dynamic and fascinating in terms of the tools that are possible, and It is more important than ever to fully understand the key drivers and trends that have the greatest impact on NFT sales and trading,” said Ben Plomion, Chief Marketing Officer, Dibbs. “OpenSea’s data supports that real-world use cases for NFTs are emerging and overall market sentiment is improving as consumers see more NFT relevance and utility in both the physical and digital worlds. We have also seen similar trends across our platform, and look forward to seeing more tools unfold along with the evolution of Web3 and the metaverse.”
As part of Dibbs’ analysis, the company was able to identify ten discrete NFT tools including: content, event access, merchandise, real estate, custom content, art, PFP, voting, games and rewards.
About Dibbs
With a secure platform for minting and redeeming collectibles-backed digital collectibles, Dibbs is the physical world’s foray into Web3, helping brands and IP holders create a digital presence for their real-world collectibles and forge a new path for deeper connectivity in their community. Launching in 2021, Dibbs has raised more than $15 million in venture capital from a number of notable investors, ranging from Amazon, Tusk Venture Partners, Foundry Group, CourtsideVC and Founder Collective; to athletes including Chris Paul, Channing Frye, Skylar Diggins-Smith, DeAndre Hopkins, Kevin Love and Kris Bryant. The company is based in Los Angeles, CA.
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