coinedition.com
In a recent tweet, Nansen, a prominent blockchain data analytic firm, highlighted the performance of art NFTs. It revealed that since January 2022, art NFTs have been the standout performers among various $NFT sectors. The firm added that this $NFT category surpassed even Blue Chips and Metaverse NFTs.
However, despite their performance, Nansen noted that art NFTs experienced their fair share of market turbulence. In a series of tweets, Nansen elaborated on the performance of different $NFT sectors.
Since January 2022, art NFTs have been the best-performing ETH $NFT sector
— Nansen 🧭 (@nansen_ai) August 29, 2023
They've done better than every other type of $NFT, including Blue Chips and Metaverse NFTs, remember them?
But they're down against the dollar…
Let's take a look at how down each $NFT sector is… pic.twitter.com/ZcZUI2EXDw
According to Nansen, GameFi and Play-to-earn saw the most significant setback in the $NFT market. Nansen particularly noted that a $1,000 investment in January 2022 would be worth only $90 now. This figure represents a staggering 91% decline. The data analytic firm categorized Gaming as the worst-performing $NFT sector.
On the other hand, Metaverse–based NFTs saw a slightly better performance. According to Nansen, a $1,000 investment from January 2022 would yield $202 as of today. Also, for the broader $NFT market, Nansen mentioned that a $1,000 investment from the same period would now be worth $329.
In contrast, social NFTs performed a bit better than the general $NFT market. Per Nansen data, NFTs tied to social connections and exclusive privileges would have yielded $362 from a $1,000.
Meanwhile, Blue Chip NFTs secured the second spot. Nansen disclosed that an investment of $1,000 in January 2022 would now be valued at $405. Nansen noted that the elite status of these NFTs did make them immune to the market’s downturn.
Taking the lead was the Art-20 index NFTs. Based on the Nansen data, an investment of $1,000 in January 2022 would now be valued at $596.