Twitter continues to drive the most web traffic to NFT marketplaces – CryptoMode
Non-fungible tokens are still of great interest to crypto users, especially when markets turn quite bearish. A recent analysis posted on NiftyTable indicates where all the traffic driving the NFT marketplaces is coming from. Unsurprisingly, Instagram and Reddit are not the place to be for that kind of information.
Finding NFT Marketplaces
Competition has increased among NFT marketplaces over the past year and a half. While Ethereum remains the largest ecosystem – and home to OpenSea and LooksRare – there are other trading platforms to explore. Magic Eden for Solana, for example, has been growing in popularity for some time now. Gem and x2y2 are still well behind the curve, although things have started to look up.
One could argue that five NFT marketplaces are not enough. However, there are many more similar solutions out there that suit users of different blockchains and ecosystems. However, these are the five largest marketplaces today, and it is important to find out how people get to such platforms. No one will be too surprised to learn that social media plays a significant role in these proceedings, although not necessarily the platforms one might expect.
Twitter is – without a doubt – the primary traffic course for all the top NFT marketplaces. Interestingly, it generates the most traffic for LooksRare and Gem, while OpenSea, MagcEden and x2y2 have practically the same market share. However, LooksRare has lost some traction since its launch, and concerns about wash-trading have not completely subsided either.
YouTube is another decent platform for generating traffic, as are “other” sources. However, one cannot ignore the growing catalog of low-quality crypto content found on Google’s video platform. While it’s good to see more creators focusing on this niche, Twitter is considered a source of “high quality” information, leaks and drops. Therefore, it will be interesting to see if YouTube can improve its impact on NFT market traffic.
Facebook, Instagram and Reddit
While Twitter and YouTube actively drive traffic to NFT marketplaces, other popular social platforms are far less important. One would expect Facebook to get at least half the volume of Twitter, but it is less than 5%. Things look even bleaker for Instagram – which has no impact on Gem or MagicEden – and Reddit – which only helps OpenSea and LooksRare. The latter one in particular is a bit surprising, although Reddit is a good place for non-tiring content.
As a content creator, Twitter is still the place for NFT related posts, threads, infographics, etc. All other platforms are apparently not worth it – based on findings by NiftyTable – although there may be a way to improve their importance. One could argue that Twitter is the best place to shill NFTs, and that would be a correct assessment as well.
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