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.