The Current Meta
The NFT landscape in September 2019 sits at an inflection point that few outside the blockchain community are paying attention to. While Bitcoin hovers around $10,335 and Ethereum trades at $181, the digital collectibles market is quietly building infrastructure that will define the next decade of online ownership. OpenSea, the largest NFT marketplace, has been expanding its support for emerging token standards, embracing the ERC-1155 multi-token standard alongside the established ERC-721. This shift matters because it signals a maturation of how digital assets are created, traded, and valued — moving beyond the novelty phase that CryptoKitties introduced in late 2017.
The total crypto market cap sits at approximately $236 billion, with the NFT segment representing a tiny fraction. Yet the building blocks being put in place during this period — marketplace infrastructure, token standards, creator tools — are laying groundwork for what will eventually become a multi-billion dollar market. Trading volumes on OpenSea remain modest by 2021 standards, but the patterns emerging in September 2019 reveal important shifts in how collectors and creators approach digital ownership.
Volume and Floor Dynamics
OpenSea trading data from mid-2019 shows a market that has found a sustainable baseline after the CryptoKitties hype cycle collapsed in early 2018. Daily active wallets interacting with NFT contracts have stabilized, with Ethereum-based collectibles dominating the landscape. The ERC-721 standard remains the backbone of most NFT projects, but the introduction of ERC-1155 is creating new possibilities for semi-fungible tokens — items that can exist in multiple copies while retaining unique properties.
Floor prices across major collections hover in the range of 0.01 to 0.5 ETH, translating to roughly $1.80 to $90 at current Ethereum prices. These are not speculative heights; they represent genuine collector interest at accessible price points. The relative stability of ETH around the $181 mark provides a predictable pricing environment that encourages participation rather than speculation. Trading volumes, while not explosive, show consistent daily activity that suggests a market finding its organic floor.
The marketplace dynamics also reveal a shift from pure speculation toward utility-driven collecting. Projects that offer gameplay mechanics, community access, or cross-platform compatibility are seeing stronger retention among holders compared to projects that rely solely on artistic rarity. This behavioral shift is subtle but significant for anyone tracking the evolution of the NFT market.
Community Sentiment
The NFT community in September 2019 is small, passionate, and technically literate. Discord servers and Twitter feeds dedicated to digital collectibles host a few thousand active participants — a far cry from the millions who will eventually enter the space. This intimacy creates a unique dynamic where creators can engage directly with collectors, and feedback loops between builders and users are tight and responsive.
Discussions around OpenSea ERC-1155 integration reveal genuine excitement about the technical possibilities. The standard allows a single smart contract to manage multiple token types — both fungible and non-fungible — dramatically reducing gas costs and simplifying the user experience. For a community that has been burdened by Ethereum network congestion and high transaction fees, this represents meaningful progress. The sentiment is cautiously optimistic: builders know they are early, but they also recognize that the infrastructure being deployed now will be critical when mainstream attention arrives.
Meanwhile, the broader crypto community remains largely indifferent to NFTs. With Bitcoin commanding the narrative around store-of-value arguments and institutional adoption, digital collectibles are viewed by many as a sideshow. SEC Chair Jay Clayton appeared on CNBC on September 9, 2019, discussing Bitcoin ETF progress — a topic that dominates crypto media coverage. The disconnect between the mainstream crypto narrative and the quiet innovation happening in the NFT space is stark.
The Next Evolution
Several trends point toward the next phase of NFT evolution. Dapper Labs, the creators of CryptoKitties, are developing the Flow blockchain — a purpose-built chain designed to handle the high-throughput demands of digital collectibles and gaming. The beta mainnet is launching this month, representing the first major attempt to solve Ethereum scalability for NFTs at the protocol level. If successful, Flow could unlock a new generation of consumer-facing NFT applications that are simply not viable on Ethereum today.
Simultaneously, Enjin is building a comprehensive NFT ecosystem centered around the ERC-1155 standard, with gaming integrations that allow in-game items to carry real-world value across multiple titles. The concept of interoperable digital assets — items that exist independently of any single game or platform — is gaining traction among developers and represents a fundamental shift in how virtual economies could be structured.
The combination of improved token standards, dedicated blockchain infrastructure, and growing developer interest creates conditions ripe for acceleration. While the market remains small, the velocity of infrastructure development suggests that the NFT space is approaching a critical mass of tooling that will enable rapid expansion once catalyst conditions are met.
Investor Takeaway
For those tracking the NFT market in September 2019, the key insight is that value is being created at the infrastructure layer, not yet at the asset layer. The projects building marketplace technology, token standards, and scalable blockchain solutions are laying the foundation for future growth. OpenSea expansion, ERC-1155 adoption, and the emergence of purpose-built chains like Flow represent the plumbing being installed before the water is turned on. Early participants who understand these dynamics — and who can distinguish between genuine infrastructure innovation and hype-driven collectibles — are positioning themselves ahead of what will become one of the most transformative applications of blockchain technology. The trend data from September 2019, modest as it is, confirms that the market is building a sustainable base rather than chasing speculative peaks. That distinction matters enormously for long-term value creation.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The NFT market is highly speculative and volatile. Past performance is not indicative of future results. Always conduct your own research before making investment decisions.
CryptoKitties to a multi-billion marketplace. the 2019 volume numbers look like a rounding error now
those 2019 volume numbers were like $1M monthly. now we see $100M days and people call it bearish lmao
ERC-721 to ERC-1155 was the quiet upgrade that made everything scalable. half the people trading NFTs dont even know the difference
ERC-1155 lets you batch transfer multiple token types in one tx. the gas savings for game items alone made it worth adopting but gamers took forever to notice
OpenSea was basically the only game in town for two more years. no real competition until LooksRare
LooksRare came and went. Blur took the short-lived crown. OpenSea is still standing after all of it. sometimes being first matters more than being best
most people just click buy and dont care if its 721 or 1155. but you’re right, the gas savings alone made it worth the migration
OpenSea had zero competition until 2022 and they still managed to lose their market dominance. impressive in the worst way
OpenSea losing dominance was their own fault. the tokenized rewards war gave competitors an opening that should never have existed