Market Decipher projects that the collectibles market will attain a valuation of $628 billion by the year 2031 and potentially $1 trillion by 2033. This comprehensive analysis encompasses a wide array of items, ranging from luxury goods such as watches to trading cards, including popular franchises like Pokémon. The report incorporates NFTs into the equation.
In this chart I included NFTs next to Non-NFT collectibles. Take it with a grain of salt, as there is only one certain thing about NFTs and it is volatility. Nevertheless, gaming, music, media and collectible NFTs have the potential to eclipse this prediction so I consider this more of a conservative chart.
Today, we're diving into a chart all about blockchain scalability. We'll be exploring the transactions over the past year on Ethereum L2s. But before we get started, let's break it down—what exactly is an L2?
Think of it this way: an L2 is like a supercharger for Ethereum. It helps solve the issue of scaling by making transactions quicker and more affordable, all while keeping the same level of security as Ethereum itself.
Base: Developed by Coinbase, this platform has gained significant popularity due to three main factors: a large developer community creating diverse applications, seamless and affordable bridging with Coinbase and Coinbase Wallet, and the straightforward use of ETH as the primary transaction coin.
Arbitrum: Renowned for its high level of decentralization, Arbitrum is particularly notable for its extensive range of financial applications, with most transactions occurring within the DeFi sector.
Optimism: This platform aims to create a new internet centered around 'public goods.' It's well-known for funding numerous open-source projects, and its technology underpins other L2s (all the ones in this list).
Blast: Launched by the team behind Blur.io, Blast has recently attracted attention by offering a gaming twist to airdrop farmers. Although it's the newest platform on the list, its success will hinge on innovative applications and providing returns to its users.
Zora: Unique in its exclusive focus on NFTs, Zora integrates with other blockchains, pioneered a whole system to reward third parties and popularized the Zora mint (almost free mints). Thanks to these innovations, it has seen increasing adoption throughout 2024.
*There are many more L2s, but I focused on those using the OP stack and have a relevant amount of transactions.
L2s Insights
Leading the pack is Base, boasting nearly 3.5 million daily transactions.
Despite being just four months old, Blast has quickly climbed the ranks, even surpassing 1 million daily transactions on a few days in June.
Arbitrum has enjoyed steady growth over the past year, hitting a peak of 2.64 million daily transactions in June 2024.
Zora experienced a significant surge in April, nearing 1 million daily transactions, but has since settled around the 150,000 mark.
The following list contains the top 10 countries by crypto adoption, based on the total amount of people that own crypto assets and the % of the population.
10. Russia 6% 8.7M 9. Indonesia 4.4% 12.2M 8. Nigeria 5.93% 13.2M 7. Philippines 13.43% 15.7M 6. Pakistan 6.6% 15.8M 5. Vietnam 21.9% 20.9M 4. Brazil 11.99% 25.9M 3. United States 15.5% 52.8M 2. China 4.1% 59.1M 1. India 6.55% 93.5M
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Global Collectives Market Size [2018-2031]
In this chart I included NFTs next to Non-NFT collectibles. Take it with a grain of salt, as there is only one certain thing about NFTs and it is volatility. Nevertheless, gaming, music, media and collectible NFTs have the potential to eclipse this prediction so I consider this more of a conservative chart.
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How Busy Are Ethereum L2 Networks?
Today, we're diving into a chart all about blockchain scalability. We'll be exploring the transactions over the past year on Ethereum L2s. But before we get started, let's break it down—what exactly is an L2?
Think of it this way: an L2 is like a supercharger for Ethereum. It helps solve the issue of scaling by making transactions quicker and more affordable, all while keeping the same level of security as Ethereum itself.
Base: Developed by Coinbase, this platform has gained significant popularity due to three main factors: a large developer community creating diverse applications, seamless and affordable bridging with Coinbase and Coinbase Wallet, and the straightforward use of ETH as the primary transaction coin.
Arbitrum: Renowned for its high level of decentralization, Arbitrum is particularly notable for its extensive range of financial applications, with most transactions occurring within the DeFi sector.
Optimism: This platform aims to create a new internet centered around 'public goods.' It's well-known for funding numerous open-source projects, and its technology underpins other L2s (all the ones in this list).
Blast: Launched by the team behind Blur.io, Blast has recently attracted attention by offering a gaming twist to airdrop farmers. Although it's the newest platform on the list, its success will hinge on innovative applications and providing returns to its users.
Zora: Unique in its exclusive focus on NFTs, Zora integrates with other blockchains, pioneered a whole system to reward third parties and popularized the Zora mint (almost free mints). Thanks to these innovations, it has seen increasing adoption throughout 2024.
*There are many more L2s, but I focused on those using the OP stack and have a relevant amount of transactions.
L2s Insights
Leading the pack is Base, boasting nearly 3.5 million daily transactions.
Despite being just four months old, Blast has quickly climbed the ranks, even surpassing 1 million daily transactions on a few days in June.
Arbitrum has enjoyed steady growth over the past year, hitting a peak of 2.64 million daily transactions in June 2024.
Zora experienced a significant surge in April, nearing 1 million daily transactions, but has since settled around the 150,000 mark.
Top 10 Countries by Crypto Adoption
10. Russia 6% 8.7M
9. Indonesia 4.4% 12.2M
8. Nigeria 5.93% 13.2M
7. Philippines 13.43% 15.7M
6. Pakistan 6.6% 15.8M
5. Vietnam 21.9% 20.9M
4. Brazil 11.99% 25.9M
3. United States 15.5% 52.8M
2. China 4.1% 59.1M
1. India 6.55% 93.5M
Source: Triple A, 2023
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NFTS and Ordinals Sales Volume
Accounts for all NFTS on ETH, Solana and Tezos blockchains and Ordinals on Bitcoin.
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PEPE VS NFTS
With a $5.4B market cap, Pepe has stormed the crypto world.
This chart was inspired by @punk9059