{"id":13737,"date":"2024-02-05T11:05:53","date_gmt":"2024-02-05T11:05:53","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2024\/02\/05\/january-monthly-nft-report-with-footprint-analytics\/"},"modified":"2024-02-05T11:05:53","modified_gmt":"2024-02-05T11:05:53","slug":"january-monthly-nft-report-with-footprint-analytics","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2024\/02\/05\/january-monthly-nft-report-with-footprint-analytics\/","title":{"rendered":"January Monthly NFT Report with Footprint Analytics"},"content":{"rendered":"<p><\/p>\n<div itemprop=\"mainEntityOfPage\">\n<p>January\u2019s NFT market saw Polygon\u2019s surge, alongside the rise of platforms like Mooar and culturally rich projects like TinFun. Explore the detailed insights of the market in our January Monthly NFT Report, created in collaboration with Footprint Analytics.<\/p>\n<h2><b>Polygon\u2019s Growth, Mooar\u2019s Rise, and TinFun\u2019s Cultural Wave<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">January 2024 marked a pivotal moment for the crypto and NFT markets, highlighted by the debut of spot Bitcoin ETFs in the US, a milestone in financial integration that attracted significant investor attention. Meanwhile, the NFT sector experienced remarkable growth, with trading volumes and user engagement reaching new highs. The month also revealed shifts in blockchain preferences, with Polygon\u2019s surge and the rise of platforms like Mooar and culturally rich projects like TinFun. In contrast, OpenSea expressed openness to acquisition discussions amid NFT market shifts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This report is based on data sourced from Footprint Analytics\u2019 <\/span><a href=\"https:\/\/www.footprint.network\/public\/research\/nft\/nft-market\/market-overview?series_date=past90days&amp;channel=EN-637\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">NFT research page<\/span><\/a><span style=\"font-weight: 400;\">, a comprehensive and user-friendly dashboard. It provides up-to-date statistics and metrics essential for grasping the pulse of the NFT industry, covering trades, projects, funding, and more.<\/span><\/p>\n<h2><b>Key Points<\/b><\/h2>\n<h3><span style=\"font-weight: 400;\">Crypto Macro Overview<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bitcoin modestly climbed by 1.65% from an opening of $42,303 to close at $43,001, while Ethereum saw a 2.77% increase, starting at $2,283 and ending at $2,346.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The broader crypto market shifted towards exploring crypto-AI synergies and observing a steady rise in the <\/span><span style=\"font-weight: 400;\">stablecoin<\/span><span style=\"font-weight: 400;\"> market cap, against a backdrop of the Federal Reserve\u2019s decision to hold interest rates steady.\u00a0<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">NFT Market Overview<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In January 2024, the NFT market grew robustly, with trading volume hitting $1.0 billion, up 17.3% from December.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pudgy Penguins<\/span><span style=\"font-weight: 400;\"> maintained its appeal, securing the third spot in the top 10 collections by trading volume, while its sister project, <\/span><span style=\"font-weight: 400;\">Lil Pudgys<\/span><span style=\"font-weight: 400;\">, came in at eighth.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gas Hero NFTs<\/span><span style=\"font-weight: 400;\">, especially the <\/span><span style=\"font-weight: 400;\">Common Heros<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Items<\/span><span style=\"font-weight: 400;\"> collections, saw significant trading volume spikes, ranking them among the top 10 collections by trading volume in January.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">TinFun<\/span><span style=\"font-weight: 400;\"> achieved the 10th position in trading volume following its debut in January 2024.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Chains &amp; Marketplaces for NFTs<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ethereum<\/span><span style=\"font-weight: 400;\"> led the NFT market with a trading volume of $904.9 million, accounting for 89.1% of all transactions, marking its lowest market share since 2021.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">January saw a remarkable increase in <\/span><span style=\"font-weight: 400;\">Polygon<\/span><span style=\"font-weight: 400;\">\u2018s trading activity, with its volume reaching $106.0 million, a 97.2% rise from the previous month.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\"> saw a continued decline in market share, falling from 20.8% to 16.6%, alongside a trading volume decrease of 10.1% to $168.1 million.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The surge in popularity of the Web3 game <\/span><span style=\"font-weight: 400;\">Gas Hero<\/span><span style=\"font-weight: 400;\"> significantly contributed to the increase in trading volume for both <\/span><span style=\"font-weight: 400;\">Mooar<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Polygon<\/span><span style=\"font-weight: 400;\"> in January.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">NFT Investment &amp; Funding\u00a0\u00a0\u00a0<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In January, the NFT market remained steady with five funding rounds totaling $26.4 million.<\/span><\/li>\n<\/ul>\n<h2><strong>What\u2019s New?\u00a0<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\"> introduces wallet creation using email, making NFT onboarding easier.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Binance Labs Invests in $<\/span><span style=\"font-weight: 400;\">MEME<\/span><span style=\"font-weight: 400;\">, the native token of Memeland from the Creators of 9GAG<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Hedera-Based Tune.FM Raises $20M for Artist-Friendly Web3 Music Platform.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.footprint.network\/@Footprint\/NFT-Marketplace?marketplace=opensea&amp;channel=EN-637\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">OpenSea<\/span><\/a><span style=\"font-weight: 400;\"> is open for acquisition amid NFT market shifts.<\/span><\/li>\n<\/ul>\n<h3><b>Crypto Macro Overview<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In January 2024, Bitcoin and <\/span><span style=\"font-weight: 400;\">Ethereum<\/span><span style=\"font-weight: 400;\"> continued their upward trajectory, although at a slower pace. Bitcoin modestly climbed by 1.65% from an opening of $42,303 to close at $43,001, while Ethereum saw a 2.77% increase, starting at $2,283 and ending at $2,346.<\/span><\/p>\n<figure id=\"attachment_64905\" aria-describedby=\"caption-attachment-64905\" style=\"width: 1011px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-64905\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64905 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1.png\" alt=\"\" width=\"1011\" height=\"528\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1.png 1011w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1-300x157.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1-768x401.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1-370x193.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/1-760x397.png 760w\" sizes=\"(max-width: 1011px) 100vw, 1011px\"\/><\/noscript> Source: BTC Price &amp; ETH Price \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The debut of spot Bitcoin ETFs in the US in January 2024 marked a pivotal moment for the crypto market, with these ETFs quickly capturing investor attention through daily trading volumes of $2.1 billion. This significant interest reflects a deeper cryptocurrency integration into the traditional financial ecosystem. Despite the excitement around ETFs, Bitcoin and <\/span><span style=\"font-weight: 400;\">Ethereum<\/span><span style=\"font-weight: 400;\"> prices remained relatively stable, indicating cautious trading post-launch. Meanwhile, the broader crypto market shifted towards exploring crypto-AI synergies and observing a steady rise in the <\/span><span style=\"font-weight: 400;\">stablecoin<\/span><span style=\"font-weight: 400;\"> market cap, against a backdrop of the Federal Reserve\u2019s decision to hold interest rates steady. This period signifies a nuanced evolution in the crypto landscape, balancing between institutional embrace, through ETFs, and the ongoing anticipation of macroeconomic and technological developments.<\/span><\/p>\n<h3><b>NFT Market Overview<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In January 2024, the NFT market grew robustly, with trading volume hitting $1.0 billion, up 17.3% from December. Transactions surged by 26.2%, reaching 1,747,453, and the number of unique users grew by 20.5% to 358,280. These statistics underscore a significant upward trend in both market activity and user engagement, highlighting the enduring appeal and expanding footprint of NFTs.<\/span><\/p>\n<figure id=\"attachment_64906\" aria-describedby=\"caption-attachment-64906\" style=\"width: 1008px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64906 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2.png\" alt=\"\" width=\"1008\" height=\"332\"\/><figcaption id=\"caption-attachment-64906\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64906 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2.png\" alt=\"\" width=\"1008\" height=\"332\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2.png 1008w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2-300x99.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2-768x253.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2-370x122.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/2-760x250.png 760w\" sizes=\"(max-width: 1008px) 100vw, 1008px\"\/><\/noscript> Source: NFT Market Overview \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The NFT market cap started at approximately $7.02 billion and experienced a growth of 5.83% to close at around $7.43 billion.\u00a0<\/span><\/p>\n<figure id=\"attachment_64907\" aria-describedby=\"caption-attachment-64907\" style=\"width: 1006px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64907 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3.png\" alt=\"\" width=\"1006\" height=\"412\"\/><figcaption id=\"caption-attachment-64907\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64907 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3.png\" alt=\"\" width=\"1006\" height=\"412\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3.png 1006w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3-300x123.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3-768x315.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3-370x152.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/3-760x311.png 760w\" sizes=\"(max-width: 1006px) 100vw, 1006px\"\/><\/noscript> Source: NFT Market Cap &amp; Volume \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The NFT market\u2019s buyer-to-seller ratio improved to 118.6%, with buyers increasing to 228,509, up 26.8% from December, and sellers reaching 192,718, up 9.1%. This shift underscores a growing buyer interest, outpacing the rise in sellers.<\/span><\/p>\n<figure id=\"attachment_64908\" aria-describedby=\"caption-attachment-64908\" style=\"width: 1007px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64908 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4.png\" alt=\"\" width=\"1007\" height=\"416\"\/><figcaption id=\"caption-attachment-64908\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64908 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4.png\" alt=\"\" width=\"1007\" height=\"416\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4.png 1007w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4-300x124.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4-768x317.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4-370x153.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/4-760x314.png 760w\" sizes=\"(max-width: 1007px) 100vw, 1007px\"\/><\/noscript> Source: Daily Buyers &amp; Sellers \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Blue Chip Index experienced a slight increase of 4.4%, with fluctuations throughout January.<\/span><\/p>\n<figure id=\"attachment_64909\" aria-describedby=\"caption-attachment-64909\" style=\"width: 1004px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64909 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5.png\" alt=\"\" width=\"1004\" height=\"417\"\/><figcaption id=\"caption-attachment-64909\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64909 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5.png\" alt=\"\" width=\"1004\" height=\"417\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5.png 1004w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5-300x125.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5-768x319.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5-370x154.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/5-760x316.png 760w\" sizes=\"(max-width: 1004px) 100vw, 1004px\"\/><\/noscript> Source: BlueChip Index \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In January, <\/span><span style=\"font-weight: 400;\">Pudgy Penguins<\/span><span style=\"font-weight: 400;\"> maintained its appeal, securing the third spot in the top 10 collections by trading volume, while its sister project, <\/span><span style=\"font-weight: 400;\">Lil Pudgys<\/span><span style=\"font-weight: 400;\">, came in at eighth.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-64910 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6.png\" alt=\"Source: Top 10 Collection Volume - Footprint Analytics\" width=\"1000\" height=\"526\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-64910 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6.png\" alt=\"Source: Top 10 Collection Volume - Footprint Analytics\" width=\"1000\" height=\"526\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6.png 1000w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6-300x158.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6-768x404.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6-370x195.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/6-760x400.png 760w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"\/><\/noscript><\/p>\n<p><a href=\"https:\/\/nftplazas.com\/gas-hero-nft-trades\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Gas Hero<\/span><\/a><span style=\"font-weight: 400;\">, a Web3 interactive strategy game known for its focus on social interaction, debuted on January 3 and quickly gained widespread attention. It operates within the Find Satoshi Lab ecosystem, utilizing the native <\/span><span style=\"font-weight: 400;\">GMT<\/span><span style=\"font-weight: 400;\"> token, the same as StepN. The game offers players the opportunity to collect, customize, and enhance Hero NFTs with an array of <\/span><span style=\"font-weight: 400;\">weapons<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">pets<\/span><span style=\"font-weight: 400;\">, encouraging them to undertake quests for gathering in-game assets. Notably, <\/span><span style=\"font-weight: 400;\">the game\u2019s NFTs<\/span><span style=\"font-weight: 400;\">, especially the <\/span><span style=\"font-weight: 400;\">Common Heros<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Items<\/span><span style=\"font-weight: 400;\"> collections, saw significant trading volume spikes, ranking them among the top 10 collections by trading volume in January.<\/span><\/p>\n<figure id=\"attachment_64911\" aria-describedby=\"caption-attachment-64911\" style=\"width: 996px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64911 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7.png\" alt=\"\" width=\"996\" height=\"498\"\/><figcaption id=\"caption-attachment-64911\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64911 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7.png\" alt=\"\" width=\"996\" height=\"498\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7.png 996w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7-300x150.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7-768x384.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7-370x185.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/7-760x380.png 760w\" sizes=\"(max-width: 996px) 100vw, 996px\"\/><\/noscript> Gas Hero Common Heroes NFT Collection<\/figcaption><\/figure>\n<p><a href=\"https:\/\/www.footprint.network\/@StellaL\/TinFun-NFT-Collection-Dashboard?collection_contract_address=0xc274a97f1691ef390f662067e95a6eff1f99b504&amp;date-79715=2010-01-01~&amp;channel=EN-637\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">TinFun<\/span><\/a><span style=\"font-weight: 400;\">, a notable NFT initiative, achieved the 10th position in trading volume following its debut in January 2024. The project seeks to honor Eastern cultural traditions through the integration of premium artwork and innovative blockchain technology, offering a deep dive into Eastern aesthetics, narratives, and games. The project is led by \u201cBitCloutCat\u201d, the founder of <\/span><a href=\"https:\/\/www.footprint.network\/public\/research\/nft\/nft-collections\/single-collection?collection_contract_address=0x08ba8cbbefa64aaf9df25e57fe3f15ecc277af74&amp;date-79715=2010-01-01~&amp;channel=EN-637\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LaserCat NFT<\/span><\/a><span style=\"font-weight: 400;\">, and supported by a team with experience at major companies such as Tencent, OKX, and Riot Games. The successful launch of <\/span><a href=\"https:\/\/www.footprint.network\/@StellaL\/TinFun-NFT-Collection-Dashboard?collection_contract_address=0xc274a97f1691ef390f662067e95a6eff1f99b504&amp;date-79715=2010-01-01~&amp;channel=EN-637\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">TinFun<\/span><\/a><span style=\"font-weight: 400;\"> has raised expectations around its ability to keep up the pace through continued user engagement and to extend the practical utility of its NFT collection beyond the hype.<\/span><\/p>\n<figure id=\"attachment_64912\" aria-describedby=\"caption-attachment-64912\" style=\"width: 1013px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64912 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8.png\" alt=\"\" width=\"1013\" height=\"547\"\/><figcaption id=\"caption-attachment-64912\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64912 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8.png\" alt=\"\" width=\"1013\" height=\"547\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8.png 1013w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8-300x162.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8-768x415.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8-370x200.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/8-760x410.png 760w\" sizes=\"(max-width: 1013px) 100vw, 1013px\"\/><\/noscript> TinFun<\/figcaption><\/figure>\n<h3><b>Chains &amp; Marketplaces for NFTs<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In January, <\/span><span style=\"font-weight: 400;\">Ethereum<\/span><span style=\"font-weight: 400;\"> led the NFT market with a trading volume of $904.9 million, accounting for 89.1% of all transactions, marking its lowest market share since 2021. Conversely, January saw a remarkable increase in <\/span><span style=\"font-weight: 400;\">Polygon<\/span><span style=\"font-weight: 400;\">\u2018s trading activity, with its volume reaching $106.0 million, a 97.2% rise from the previous month. This surge boosted Polygon\u2019s market share to 10.4%, nearly doubling from December\u2019s 6.0%.<\/span><\/p>\n<figure id=\"attachment_64913\" aria-describedby=\"caption-attachment-64913\" style=\"width: 1003px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64913 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9.png\" alt=\"\" width=\"1003\" height=\"503\"\/><figcaption id=\"caption-attachment-64913\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64913 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9.png\" alt=\"\" width=\"1003\" height=\"503\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9.png 1003w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9-300x150.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9-768x385.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9-370x186.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/9-760x381.png 760w\" sizes=\"(max-width: 1003px) 100vw, 1003px\"\/><\/noscript> Source: Monthly Volume by Chain \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Ethereum<\/span><span style=\"font-weight: 400;\"> maintained its growth trajectory in unique user count, reaching 163.3K, a 4.9% gain from December, yet its market share dipped to 42.7% from 49.0%. In contrast, <\/span><span style=\"font-weight: 400;\">Polygon<\/span><span style=\"font-weight: 400;\"> experienced a significant uptick in its user base, surging 50.5% to 170.0K and elevating its market share from 35.5% to 44.5%, thereby securing the largest user base in January. Meanwhile, <\/span><span style=\"font-weight: 400;\">BNB Chain<\/span><span style=\"font-weight: 400;\"> saw a modest rise in user share, moving up from 7.5% to 8.6%.<\/span><\/p>\n<figure id=\"attachment_64914\" aria-describedby=\"caption-attachment-64914\" style=\"width: 1002px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64914 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10.png\" alt=\"\" width=\"1002\" height=\"504\"\/><figcaption id=\"caption-attachment-64914\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64914 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10.png\" alt=\"\" width=\"1002\" height=\"504\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10.png 1002w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10-300x151.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10-768x386.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10-370x186.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/10-760x382.png 760w\" sizes=\"(max-width: 1002px) 100vw, 1002px\"\/><\/noscript> Source: Monthly Unique Users by Chain \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">When it comes to NFT marketplaces, <\/span><span style=\"font-weight: 400;\">Blur<\/span><span style=\"font-weight: 400;\"> witnessed an 11.7% increase in trading volume to $693.2 million, though its market share dipped slightly to 68.3% from December\u2019s 69.2%. <\/span><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\"> saw a continued decline in market share, falling from 20.8% to 16.6%, alongside a trading volume decrease of 10.1% to $168.1 million. Conversely, <\/span><span style=\"font-weight: 400;\">Mooar<\/span><span style=\"font-weight: 400;\"> emerged as a prominent contender, experiencing a remarkable 112.1% surge in trading volume, with its market share growing from 5.0% to 9.5%.<\/span><\/p>\n<figure id=\"attachment_64915\" aria-describedby=\"caption-attachment-64915\" style=\"width: 1006px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64915 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11.png\" alt=\"\" width=\"1006\" height=\"505\"\/><figcaption id=\"caption-attachment-64915\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64915 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11.png\" alt=\"\" width=\"1006\" height=\"505\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11.png 1006w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11-300x151.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11-768x386.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11-370x186.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/11-760x382.png 760w\" sizes=\"(max-width: 1006px) 100vw, 1006px\"\/><\/noscript> Source: Monthly Volume Distribution by Marketplace \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Furthermore, <\/span><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">Blur<\/span><span style=\"font-weight: 400;\">, and <\/span><span style=\"font-weight: 400;\">Element<\/span><span style=\"font-weight: 400;\"> garnered the highest number of unique users in January, recording user counts of 278.9K, 54.7K, and 39.5K, respectively.<\/span><\/p>\n<figure id=\"attachment_64916\" aria-describedby=\"caption-attachment-64916\" style=\"width: 1015px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64916 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12.png\" alt=\"\" width=\"1015\" height=\"503\"\/><figcaption id=\"caption-attachment-64916\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64916 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12.png\" alt=\"\" width=\"1015\" height=\"503\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12.png 1015w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12-300x149.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12-768x381.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12-370x183.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/12-760x377.png 760w\" sizes=\"(max-width: 1015px) 100vw, 1015px\"\/><\/noscript> Source: Monthly Volume Users by Marketplace \u2013 Footprint Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The surge in popularity of the Web3 game <\/span><span style=\"font-weight: 400;\">Gas Hero<\/span><span style=\"font-weight: 400;\"> significantly contributed to the increase in trading volume for both <\/span><span style=\"font-weight: 400;\">Mooar<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Polygon<\/span><span style=\"font-weight: 400;\"> in January, highlighting the game\u2019s impact on market dynamics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In contrast, <\/span><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\"> has struggled to justify its former valuation of $13.3 billion amid NFT market shifts. On January 27, CEO Devin Finzer disclosed that OpenSea has attracted acquisition interest, though he did not detail the timing or potential acquirers. Finzer mentioned to <\/span><span style=\"font-weight: 400;\">the press<\/span><span style=\"font-weight: 400;\"> that the company is open to the possibility of being acquired. Once the leading force in the NFT market, OpenSea has seen its competitors gain ground more rapidly since the second half of 2023.<\/span><\/p>\n<h3><b>NFT Investment &amp; Funding <\/b><b>\u00a0\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In January, the NFT market remained steady with five funding rounds totaling $26.4 million.<\/span><\/p>\n<figure id=\"attachment_64917\" aria-describedby=\"caption-attachment-64917\" style=\"width: 1003px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64917 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13.png\" alt=\"\" width=\"1003\" height=\"558\"\/><figcaption id=\"caption-attachment-64917\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-64917 size-full lazyload\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13.png\" alt=\"\" width=\"1003\" height=\"558\" srcset=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13.png 1003w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13-300x167.png 300w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13-768x427.png 768w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13-370x206.png 370w, https:\/\/nftplazas.com\/wp-content\/uploads\/2024\/02\/13-760x423.png 760w\" sizes=\"(max-width: 1003px) 100vw, 1003px\"\/><\/noscript> NFT Funding Rounds In January 2024<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Binance Labs, the investment arm of Binance, has strategically invested in <\/span><span style=\"font-weight: 400;\">Memecoin (MEME)<\/span><span style=\"font-weight: 400;\">, the native token of Memeland, an independent Web3 venture studio birthed by the creators of 9GAG. Memeland is dedicated to fostering the SocialFi and creator economies, aiming to bridge creators and communities by leveraging the power of meme culture through its MEME token and NFTs (<\/span><span style=\"font-weight: 400;\">The Captainz<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">The Potatoz<\/span><span style=\"font-weight: 400;\">, and <\/span><span style=\"font-weight: 400;\">YOU THE REAL MVP<\/span><span style=\"font-weight: 400;\">). This investment demonstrates Binance Labs\u2019 commitment to supporting innovative projects that strengthen the connection between digital content creators and their audiences in the evolving Web3 ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tune.FM, a Web3 music platform, has successfully raised $20 million from LDA Capital, an alternative investment group, to further its mission of empowering musicians to earn a more substantial share of royalties from their work. Utilizing the advanced Hedera Hashgraph blockchain technology, Tune.FM offers artists a unique opportunity to earn micropayments for streams in its native JAM token and to mint NFTs for their digital music and collectibles.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">________________<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data includes:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Blockchains: Ethereum, Polygon, BNB Chain, Cronos, Optimism, Sui<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Marketplaces: OpenSea, LooksRare, Blur, X2Y2, Cryptopunks, Rarible, SuperRare, Foundation, Decentraland, Aavegotchi, Element, Era7, the Sandbox, Minted, Clutchy, BlueMove, Hyperspace, Tocen, Keepsake, Mooar.\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>Check out Footprint Analytics &gt;&gt;\u00a0<a href=\"https:\/\/www.footprint.network\/\" target=\"_blank\" rel=\"noopener\">Here<\/a><\/strong><\/p>\n<p><b>Want more? Connect with NFT Plazas<\/b><\/p>\n<p><a href=\"https:\/\/nftplazas.beehiiv.com\/subscribe\" target=\"_blank\" rel=\"noopener\">Subscribe to our Newsletter<\/a><br \/><a href=\"https:\/\/discord.com\/invite\/nftplazas\" target=\"_blank\" rel=\"noopener\">Join our Discord<\/a><br \/><a href=\"https:\/\/twitter.com\/nftplazas\" target=\"_blank\" rel=\"noopener\">Follow us on Twitter<\/a><br \/><a href=\"https:\/\/www.facebook.com\/nftplazas\" target=\"_blank\" rel=\"noopener\">Like us on Facebook<\/a><br \/><a href=\"https:\/\/www.instagram.com\/nftplazas\/\" target=\"_blank\" rel=\"noopener\">Follow us on Instagram<\/a><\/p>\n<p><small><em>*All investment\/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.<\/em><\/small><\/p>\n<div class=\"saboxplugin-wrap\" itemtype=\"http:\/\/schema.org\/Person\" itemscope=\"\" itemprop=\"author\">\n<div class=\"saboxplugin-tab\">\n<div class=\"saboxplugin-gravatar\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nftplazas.com\/wp-content\/uploads\/2023\/08\/footprint-analytics-logo-1.jpg\" width=\"100\" height=\"100\" alt=\"footprint-analytics-logo-1\" itemprop=\"image\"\/><\/div>\n<div class=\"saboxplugin-desc\">\n<div itemprop=\"description\">\n<p>Free Analytics for the NFT arena. <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Explore community-built analysis and create charts with no coding.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script type=\"text\/plain\" data-cli-class=\"cli-blocker-script\"  data-cli-script-type=\"non-necessary\" data-cli-block=\"true\"  data-cli-element-position=\"head\">!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js?v=next');<\/script><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><br \/>\n<br \/><a href=\"https:\/\/nftplazas.com\/january-nft-report\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>January\u2019s NFT market saw Polygon\u2019s surge, alongside the rise of platforms like Mooar and culturally rich projects like TinFun. Explore the detailed insights of the market in our January Monthly NFT Report, created in collaboration with Footprint Analytics. Polygon\u2019s Growth, Mooar\u2019s Rise, and TinFun\u2019s Cultural Wave January 2024 marked a pivotal moment for the crypto [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[16],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftplazas.com\/wp-content\/uploads\/2023\/09\/August-Monthly-NFT-Report-in-Collaboration-with-Footprint-Analytics.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13737"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=13737"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/13738"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=13737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=13737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=13737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}