Blur: A Fundamental Analysis of NFT Marketplaces

NFT Markets Will Recover… At Some Point

Is the NFT market gasping its last breath? A quick glance at the plummeting prices of the so-called “blue-chip” NFTs might lead you to believe so. Indeed, since the start of the year, the market has only been on a downward trajectory, with most of these collections losing 30-60% of their value in ETH terms.

The overall volume of NFT marketplaces has been stagnating despite attempts by platforms like Blur and LooksRare to stimulate trading through token mining incentives. This slump can be attributed to a myriad of factors, including waning interest in NFTs, a dearth of fresh capital inflows, a lack of compelling new narratives, and a correction of the “overvaluation” from the previous bull run.

From a builder’s perspective, however, the future of NFTs is far from b