The total trading volume of irreplaceable tokens (NFT) rose year by year in January, and the monthly total transaction volume reached more than $1 billion in eight months, according to a recent report by Delphi Digital (Delphi Digital).

An important factor endangering the sale of NFT is the airdrop of Blur tokens on February 14th. Since its launch in the third quarter of 2022 last year, Blur has been giving users "care package content", which can be exchanged for tokens from February 14 to 12 p.m. U.S. Time.

Many users try to cultivate this kind of airdrop goods, which increases the trading volume of this platform. Since the beginning of 2023, the trading volume of Blur has exceeded that of OpenSea, the market leader in the field of NFT trading.

Airdrop materials often create excitement in an exciting user market, who get completely free money from the wrong person to invest in FOMO. The next step for the Blur team is likely to be to launch new liquidity discovery theme activities, similar to cheerful ones, to attract its sales and users. In addition, users will also turn to other opportunities in this field, similar to Blur.

The data on the chain shows that dolphins have accumulated NFT tokens.

The top-level NFT trading platforms in Etherum that use local tokens are LooksRare (LooksRare) and X2Y2 (X2Y2). So far this year, the price of his tokens has risen 100% and 260% respectively. The performance of such tokens exceeds the average increase in the market, which shows that customers attach more importance to such tokens.

A separate chain investment analyst The Data Nerd found that Taureon Capital has accumulated NFT market tokens. Ethernet Square wallet, which is classified as "smart money" by Nansen, has also greatly increased its X2Y2 and Look. This shows that among senior investors, enthusiasm for NFT market tokens has increased.

Let's take a closer look at each platform:

X2Y2

At the level of NFT trading volume in Ethernet Square, X2Y2 ranks third. The platform issued tokens in February 2022 and demand has been steady since then. He distributes trading fees on the platform among X2Y2 foreign exchange dealers and encourages buying and selling through X2Y2 incentives.

The platform's stock price-to-earnings ratio (PE) is about 14 times, in the lower category of decentralized financial (Defi) tokens where other stocks price-to-earnings ratios are between 10 and 250.

Recently, in early February, 37.5 million LOOK tokens were unlocked for development teams and vaults, accounting for 17% of the supply of goods in circulation. The team assures investors that in the foreseeable future, the X2Y2 elite team will not easily sell all the tokens that will be opened, and will not sell all the tokens that have been opened so far.

However, because of inflation, tokens are at risk, and the supply of goods in circulation will nearly double by the end of this year. The team also has a monthly ignition system to ease the diluent.

At this stage, the transaction price of the token is close to the high range of about $0.20 set in 2022. If customers can improve and sort out horizontally above this level, X2Y2 may have a large increase.

Appearance scarcity

LooksRare, another competitor to OpenSea, gives tokens dealers transaction fees for ETH and Weth on the platform. The price-to-earnings ratio of competitive stocks in the market is 11.7, which is smaller than that of X2Y2.

Real-time analysis platform Lookonchain reveals that Arthur Hayes, a famous trader and founder of BitMEX, has 3.62% of the total token supply. The confidence of dolphin investors like Hayes encourages investors and other funds to follow in his footsteps.

Like X2Y2, Look tokens experienced an important opening at the end of 2022 and will not be significant until the second quarter of 2023.

The market price of Look shows that the market has already digested the recent diluent. Depending on its level of trading in 2022, the token is likely to rise sharply to $0.35 and $0.50. However, the platform must show an increase in application before it can be applied to further rebound.

Rarible

Rarible's original token is different from LooksRare and X2Y2 because he doesn't share the profits of trading on the platform. Rari tokens are used only as governance tokens to vote on the proposal of the Rari Charitable Foundation.

The team used Curve's online voting-managed token socioeconomics and hasn't seen all the real chip tracking yet. In addition, Rari can buy and sell transactions on this platform, but its application as a payment token is limited compared to ETH and stablecoins.

The price of tokens mainly reflects its awkward social economics. Unless the Rari Charitable Foundation takes action to enhance the token effect, Rari's performance is likely to be weaker than that of other companies in the market.

There may also be hidden opportunities for Defi-NFT platforms such as JPEG'd and Pine, which allow loans backed by NFT.

NFT's overall trading volume is less than 1 per cent of the cryptocurrency exchange volume. However, this is a growing niche market that is expected to generate nearly $5.9 billion in revenue by 2025. As a result, early investment in fragmented markets, sharing some of the proceeds, is likely to yield substantial returns within a decade.