ARC3 vs ARC69

• ARC69 data lives on the ALGO blockchain
• ARC3 data lives on IPFS (decentralized p2p system for storing data and files)
• ARC69 is more optimized for fetching digital media
• ARC3 is more useful for handling larger format NFT data (eg. videos and other formats)
• ARC69 is currently supported by most Algorand NFT marketplaces

First, let's start by understanding the 2 Algorand NFT standards - ARC3 and ARC69.

• Around 4.8k NFTs or ~4% of all NFT minted are using ARC3 standard
• Around 117k NFTs or ~96% of all NFT minted are using ARC69 standard
• This clearly suggest that ARC69 standard NFTs are more widely adopted

• As we can see from the graph above, ARC69 standard are predominantly used to mint Algorand NFTs.
• There is a spike in ARC3 NFTs minted on 16th Jan 21 with around 2.8k NFTs minted.

• Algorand NFT sales volume has been increasing steadily since middle of last year.
• Daily sales volume for both ARC3 and ARC69 NFTs largely follows the daily number of NFT minted.

Overall, it seems that Algorand NFT are gaining popularity for the past half a year with a strong preference of minting ARC69 NFTs.