What are NFTs?
NFTs are virtual assets with unique codes and information. These tokens are digital expressions of physical or virtual items that may utilize to express almost anything. Here are some Exciting NFT Statistics you should know.
The phrase “non-fungible” denotes that these tokens are one-of-a-kind and cannot be replaced.
They function precisely similar to limited-edition goods. If there are only ten pieces of ‘something’ and even if you purchase two pieces, they both are comparably unique and distinct and may have different values.
On the other hand, digital currencies like Bitcoin are not the same – each Bitcoin has the same value as any other.
1. In 2021, more than $41 billion in cryptocurrency was spent on NFT platforms.
The NFT industry surpassed about $41 billion in 2021, crossing classic art sales. These traditional sales crossed $50 billion by 2020.
The decreasing gap can be apprehended by the increasing enthusiasm around NFTs and the closure of auction houses during the coronavirus epidemic.
2. In 2021, about 28.6 million wallets traded NFTs.
NFT sales volumes totaled roughly $24.9 billion in 2021; as per the source, this was a tremendous rise from roughly $94.9 million in 2020.
Notably, the number of wallets trading in NFTs expanded considerably in 2021, from roughly 545,000 in 2020 to around 28.6 million in 2021. The most valuable items were usually the multiple flammable.
3. The NFT Market will reach $80 Billion worth by 2025
As per Jefferies’ report, The NFT Industry will hit a valuation of $80 billion US dollars by 2025.
4. The NFT market nearly cultivated tenfold from 2018 to 2020
As per the source, around 1,000 to 3,000 unique wallets bought NFTs on most days in April and May 2021. There were over 30,000 unique purchasers in April, and in May, there were about 25,000.
It is a slight downward motion from March’s 39,000 unique purchasers, but it portrays a massive rise over 2020 when most months had fewer than 10,000 unique customers. Exciting NFT Statistics.
5. Cryptopunks are accountable for 5 of the top 20 NFT sales.
CryptoPunks, a Larvalabs brainchild, works on the Ethereum blockchain network. Due to their rarity, they are significantly famous.
For instance, CryptoPunk #7523 sold for around $11.8 million, whereas #3100 CryptoPunk sold for $7.7 million, creating them the 4th & 5th highest NFT sales.
6. The Largest NFT Marketplace is OpenSea.
OpenSea is the biggest P2P marketplace for Non Fungible Tokens, with a collective trading volume of roughly $14.68 billion. OpenSea carries 90% of all the NFT trading volume. OpenSea recorded an all-time high trading volume of $3.7 billion in January 2022.
The brand has also aided in creating several other competitors, like Axie Infinity, which is presently worth around $3.94 billion.
The CryptoPunks ($2.40 billion) and the NBA Top Shot (0.78 billion) are two more well-known markets.
Below is the overview of Top Marketplaces for NFTs
|Market||Average price||Traders||Volume, billions|
|NBA Top Shot||$63.63||492,039||$0.78|
7. The Chinese and Singaporeans are the most vibrant about NFTs.
As per the report on Google trends, citizens of Singapore and China are the most interested in NFTs as of 2021. The third-place finisher is known as ‘Venezuela.’ Shockingly, the United States did not even make the list of top ten countries.