NFT volume, DAOs and the curious case of LooksRare

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like you, i check NFT Marketplace volumes growing several times every day to monitor the market for buying and selling digital signatures on various blockchains that point to images and the like. We are very cool.

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Mostly, the data is static. OpenC Volume leads the space with other, smaller NFT exchanges and a few crypto games filling the list. You can take a look at DappRadar’s NFT Marketplace dataset Here, Related list of numbers from NonFungible Here, and some great charted data from the block Here, if you want to dive in yourself.


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But recently the data has changed, and there is an NFT marketplace called looks rare Rapidly rose on the charts, surpassing OpenC’s results and taking the top spot among its competitors in terms of volume.

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Is OpenSea in trouble? Did the Luxair suddenly rise to the top of the charts thanks to an improved model, price list, or other business endeavor? Kinda, but there seems to be a lot of nonsense going on to make the numbers appear better than they are. So let’s talk about incentives and governance tokens to understand what’s happening with LuxRay and the bigger future of financialization of everything.

Incentives

Data is a lot of fun. In the past 24 hours, LuxRadar has only seen $290 million worth of NFT trades per DappRadar data. OpenSea’s 24-hour tally is a more modest $131.6 million. Considering how far ahead of OpenSea that single data point LuxRay is, have we crowned a new market king? No.

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