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Q1 2021 Web3 Review: NFTs, Metaverses, and DAOs

Mason NystromApr 14, 2021 ⋅ 11 min read

Web3’s first quarter started strong with a flurry of new protocol launches in the non-fungible token (NFT) marketplace sector and mainstream attention from NFTs, specifically in regards to crypto art and trading cards. While this trend continued for the majority of the first quarter, later in the month, attention slowly shifted to decentralized autonomous organizations (DAOs) and their growing popularity.

Non-Fungible Tokens

If one had to pick the strongest Web3 narrative from Q1’ 2021, it’s without a doubt the non-fungible token frenzy with over $1.1 billion in cumulative sales volume.

Let’s dive into each of the three categories displayed in the above chart, specifically, NFT Art Marketplaces, NFTs Projects, and Metaverses.

NFT Art Marketplaces

Total first-quarter NFT marketplaces sales exceeded $350 million with a strong portion coming from crypto art marketplaces.

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Mason Nystrom

96 Reportsmasonnystrom

Mason was a Senior Research Analyst at Messari focused on Web3 protocols and cryptoassets. Before Messari, Mason worked at ConsenSys as a Content Marketer focused on marketing strategy. Mason obtained his Master’s in Business Management at Hong Kong Baptist University.

Mentioned Assets
Outline
  • Non-Fungible Tokens
  • Metaverses
  • DAOs
  • Final Q1 Thoughts
Author
Mason Nystrom
Mason was a Senior Research Analyst at Messari focused on Web3 protocols and cryptoassets. Before Messari, Mason worked at ConsenSys as a Content Marketer focused on marketing strategy. Mason obtained his Master’s in Business Management at Hong Kong Baptist University.
96 Reportsmasonnystrom
Mentioned Assets