Mapping the NFT revolution: market trends, trade networks, and visual features
Source: Nature Briefing
According to this study published in the scientific journal Nature of 6.1 million trades of 4.7 million Non Fungible Tokens between June 23, 2017 and April 27, 2021, 85% of the transactions were initiated by 10% of active brokers.
Regarding the NFT market, the art market represents 71%. And that 20% of NFTs are resold at least once.
The authors suggest that these figures indicate that the hype cycle is being driven by fairly closely knit social networks, and that the NFT market in art is largely dependent on the work of a limited number of influencers.
Finally, it appears that the transactional price seems to be strongly correlated with the previous sale history and visual features present in each work.