Deciphering the Metaverse: Novel Launch Mechanisms and Market Expansion

Taking stock of the overall NFT market, the weekly sales volume for the art and collectibles categories has been gathering pace again, rising to $347K last week (+16.0% WoW). Two weeks ago, the Google search volume for "NFT," which can serve as a harbinger of new interest flowing in, reached a new all-time high (ATH) and already heralded this upswing in sales volume at least to some degree.

Despite the reawakened vigor in the arts and collectibles NFT market, monthly volumes for the dominant NFT marketplaces continued to tumble for the fourth consecutive month diminishing slightly to $2B. Unsurprisingly, this comes at a time when market participants are still faced with extraordinarily high transaction fees on Ethereum, which nevertheless decreased by -3.5% MoM in November.