27 stats about NFTs in 2022 – who are the big winners

27 stats about NFTs in 2022 – who are the big winners

“Web 3.0 brings endless opportunities to many people, changes lives in Kenya, removes barriers in India and empowers developers in China to service global audiences during the COVID lockdown period. Your gateway to Web 3.0 is just one click away. Let’s innovate.”

– Anndy Lian.

 

At the beginning of the year, when the crypto market was red hot, it was extremely tough to understand what was going on in the NFT industry.

At the beginning of the year, when the crypto market was red hot, it was extremely tough to understand what was going on in the NFT industry.

The massive influx of collections, new marketplaces, and easy money in the space created the perfect mix of incentives for fraudulent activity. As we know, I published an article in October about NFT wash trading, several “OpenSea killers” were built entirely on fake activity, and not everything was as it seemed when you looked at NFT collection leaderboards. As the market crashed, so did activity across the board (both fake and organic).

But not all was negative. Several highly innovative NFT collections broke the mold of zany PFP images and proved a market for digital, non-fungible art existed.

While there was a proliferation of small collections and grassroots community-building in some corners of the industry (e.g., Solana and Magic Eden), the year also saw consolidation with the birth of the first NFT megacorp in Yuga Labs.

Instead of telling you what to think about 2022 and where the NFT world is heading in 2023, this article has the essential stats from last year so you can create your own analysis.

9 Stats about the NFT Industry

1. Total sales of NFTs in 2022 was $55.5B

This is up 175from $20.2B in 2021. When you compare 2020 to 2022 total sales, it is 390X more.

2. The market capitalization of the NFT industry peaked on April 4th at $41.5B

Market capitalization is calculated as the sum of each NFT valued at the greater of its last traded price and the floor price of the collection, respectively. Suspected wash trades have been filtered out.

2022 Market Cap & Trading Volume
2022 Market Cap & Trading Volume

3. Roughly 85K NFT collections were launched last year

In 2021, there were around 14.5K collections, while the number nearly reached 99K by the end of 2022. Notice that Opensea remains the leader in both years.

Total Number of Market Collections 2021
Total Number of Market Collections 2021
Total Number of Market Collections 2022
Total Number of Market Collections 2022 / Reference: Total Number of Market Collections 2021 vs Total Number of Market Collections 2022

4. About 7,700 collections had trading volume over $100K

Do note that the majority of this activity did not come from a legitimate, organic interest in the project based on the date collected.

2022 Top Collections
2022 Top Collections / Reference: Top Collections 2022

5. Only 2,623 collections had more than 1000 unique buyers

As with all stats in the NFT industry, this one should be taken with a grain of salt due to the significant amount of wash trading, especially during the year’s first half.

Top Collections 2022
Top Collections 2022

Reference: Top Collections 2022

6. NFT trading volume reached its 2022 peak in January, with $17.4B in value

This was more than a 4x jump from the previous month (December 2021). This was also the month when Google searches for the keyword “NFT” reached their all-time high.

NFT Trading Value
NFT Trading Value

Reference: Trading Value (V)

7. The biggest gap between the number of sellers and buyers was in January, with about 200K more sellers than there were buyers.

Yet January was also the hottest month for NFT prices for most major collections, indicating that using these metrics as an analog for supply and demand has flaws.

NFT Buyers vs. Sellers
NFT Buyers vs. Sellers

Reference: NFT Buyers vs. Sellers

8. Last year, 46% of total NFT trading volume was likely to be caused by wash trading

There are several indicators and filters to detect suspicious activity. To identify these types of transactions, I use Footprint Analytics’ filters to separate transactions to the following formula:

  • a.) Overpriced NFT trades (10x OpenSea Average Price)
  • b.) Collections with 0% royalties (except CryptoPunks and ENS)
  • c.) An NFT bought more than a normal amount of times in a day (currently filtered for more than 3+)
  • d.) An NFT bought by the same buyer address in a short period (currently filtered for 120 minutes)
NFT Volume by Chain
NFT Volume by Chain / Reference: NFT Volume by Chain (With Wash Trading Filtered) vs. NFT Volume By Chain

6 Stats about NFT Collections

9. The collection with the largest market cap by the end of the year was CryptoPunks at $1.1B

Crypto Punks, launched by Larva Labs in 2017, was the first NFT collection to become a household name and have the highest floor price in the industry. Yuga Labs acquired the IP of the collection in March 2022.

Reference: 2022: Top Collections by Market Cap

10. Trading volume of major collections in the Yugaverse—Yuga Labs’ portfolio of products—was $3.1B

This sum includes Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Otherside, and CryptoPunks. It excludes Meebits, which had more trading volume than all of these combined,

Reference: Yuga Labs (Trading Volume in 2022)

11. Yuga Labs’ portfolio accounts for about 20% of the total market cap of the entire NFT industry

This sum includes Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Otherside, CryptoPunks and Meebits.

12. Without any wash trade filtering, Terraforms by Mathcastles had an astounding $12B in trading volume, more than any other collection, across 11,341 transactions

However, 99.8% of the volume and 46.3% of transactions were detected as wash trading.

Reference: NFT – Collections

13. When filtering out wash trading, CryptoPunks had the highest volume ($2.9B) followed by Bored Ape Yacht Club ($2.3B)

Reference: 2022: Top Collections by volume

14. ArtBlocks Curated was the 4th most traded collection by volume and amassed a market cap $325M

ArtBlocks demonstrated that there is a market for high-end artistic NFTs—it stands out among Yuga PFP projects, and metaverse land NFTs at the top of the rankings

15. There were 7 major collections whose volume was over 95% wash trading

For this stat, “major” means having over $1M in real trading volume. Terraforms by Mathcastles, More Loot, dotdotdots, Dreadfulz, Audioglyphs, CryptoPhunksV2, and Meebits.

6 Stats about Chains and Markets for NFT Projects

16. Ethereum had 95% percent of volume, 47% of transactions, and 71% of protocols

These figures are almost the same as in 2021. Based on the data, Ethereum is still the most widely used for NFT.

Reference: 2022 Market Share of Transactions by Chain and 2022 Market Share of Trading Volume by Chain and Yearly Number of NFT Protocols by Chain

17. Solana went from having no NFT protocols in 2021 to 5,335 in 2022

Solana is ranked third globally at the point of writing.

Another thing to note is that Ethereum grew from 420 in 2019 to 55,144 in 2022.

Yearly Number of NFT Protocols by Chain
Yearly Number of NFT Protocols by Chain / Reference: Yearly Number of NFT Protocols by Chain

18. OpenSea hosted 53% of all total collections

OpenSea remained the marketplace of choice for Ethereum and Polygon. However, Magic Eden capitalized on its Solana first-mover advantage to be the marketplace of choice for collections on this chain (OpenSea started listing them in April.) Note: a collection can list on multiple marketplaces.

Reference: 2022: Number of Marketplace Collections by Chain

19. Solana had more active users in October, with 411K, than Ethereum, with 392K

While most of the blue-chip collections and collectors transact on OpenSea and Ethereum, Solana built up a sizable community of NFT enthusiasts in 2022. Solana’s active users hovered between 20-45% of the total market share—October was the only month it overtook Ethereum for this metric

Reference: Chain Monthly Active User

20. OpenSea had 96,459 unique wallets make a transaction on the protocol on Feb. 2

This is more transactions than any other marketplace on any other day.

Reference: 2022 Marketplace Daily Active User

21. Over $903M in platform fees were generated on OpenSea, going to both the marketplace and creators

This made OpenSea the most profitable marketplace in terms of fees generated from trading (which went to the platform and are disbursed to creators.)

Reference: Top Marketplaces

6 Stats about NFT Investment & Fundraising

22. The NFT industry received a total of $2.98B in fundraising in 2022

The highest was in January 2022 at $964M. The lowest is in December at $29.4M.

NFT Investment Amount in 2022
NFT Investment Amount in 2022 / Reference: NFT investment Amount in 2022

23. Animoca Brands closed the largest round of the year, $358M led by Liberty City Ventures

Animoca has said it will use the funding for strategic acquisitions and investments, develop its games and metaverse products, and acquire licenses for popular intellectual properties.

Reference: 2022 NFT Fundraising Details

24. There were 1,992 total fundraising rounds in 2022, 756 more than in 2021

Reference: Investment by Category in 2022

25. While NFT-related projects were the most popular category among VCs by the number of rounds, they were the 2nd-least popular in 2022

In 2022, general Web3 projects closed the most rounds (711), followed by DeFi (362), infrastructure (331), NFTs (326), and, finally, CeFi (257).

NFT Investment by Category in 2022
NFT Investment by Category in 2022 / Reference: Investment by Category in 2022

26. Seed rounds made up 81% of total NFT funding rounds

Reference: NFTs Funding Rounds

27. The 2 largest rounds for pure NFT projects went to OpenSea ($300M) and Dapper Labs ($250M)

The OpenSea round was one of only 5 Series C or D rounds in 2022. Dapper Labs is the studio behind the NBA Top Shot collection.

Key Takeaways

As we can see, Web 3.0 is proliferating. NFT is undoubtedly part of the whole Web 3.0 ecosystem. In the Web 3.0 ecosystem, NFTs are often used to facilitate the buying and selling of unique digital assets on decentralized platforms. These platforms use smart contracts to enable transactions without the need for intermediaries. They can facilitate the buying and selling of NFTs and allow NFT holders to earn passive income by lending out their NFTs. There are many use cases to showcase.

Web 3.0 will continue to draw more investment in 2023 based on some of the deal flows I see in the market. OKX Ventures and GSRV co-lead a $2 Million seed round for a Web 3.0 decentralized Identity platform. Binance Labs launched a $500M fund to support promising Web 3.0 projects and start-up firms with great potential earlier this year. Du Jun, the co-founder of cryptocurrency exchange Huobi Global, runs ABCDE Capital, a $400M Web 3.0 venture capital fund is dedicated to investing in web3 builders.

Apart from the crypto firms-led firms, it’s also true that traditional investment companies are beginning to take notice of the Web 3.0 ecosystem and are starting to invest in companies and projects that are working on decentralized technologies, such as blockchain and non-fungible tokens (NFTs).

There are several reasons why traditional investment companies might be interested in investing in web3 technologies. One reason is that the Web 3.0 ecosystem is still in its early stages and has much growth potential. Decentralized technologies have the potential to revolutionize many different industries, from finance and real estate to art and collectibles.

Another reason is that the Web 3.0 ecosystem is relatively uncorrelated with traditional financial markets, which can offer diversification benefits for investors. This can be especially appealing in times of economic uncertainty, when traditional financial markets may be more volatile.

Ending with a quote:

“Web 3.0 brings endless opportunities to many people, changes lives in Kenya, removes barriers in India and empowers developers in China to service global audiences during the COVID lockdown period. Your gateway to Web 3.0 is just one click away. Let’s innovate.” – Anndy Lian.

 

 

Source: https://cryptoslate.com/27-stats-about-nfts-in-2022-who-are-the-big-winners/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Massive Volume Pushes Bitcoin Briefly Above $22,500: Here’s Why There’s A Spike In Activity

Massive Volume Pushes Bitcoin Briefly Above $22,500: Here’s Why There’s A Spike In Activity

After being in the red for over a month, the largest digital currency by market capitalization, Bitcoin BTC/USD, has pared some of its losses and is trading up about 12% higher over the past week, making a brief high of $22,527 along with a spurt in volumes on July 8, before settling back to around $21,700 levels.

Experts caution the unexpected price uptick as a “one-off event” that is most likely a reaction to crypto exchange Binance’s decision to eliminate fees on BTC spot trading, and that it in no way signals a price reversal.

No substantial reason for price surge

Anndy Lian, Chief Digital Advisor to the Mongolian Productivity Organization, tells Benzinga the sudden price surge in BTC is unsustainable as there is no catalyst for the move.

“The only piece of good news that is closely linked to the surge would be Binance’s zero fees Bitcoin promotion. There were many people who were trying to gain VIP tiers, which resulted in a massive transaction volume. That volume can be subjected to wash trading and manipulations,” he says, adding that the incident is one-off.

Liquidation of leveraged short positions

Even as the price of BTC surged despite the lack of any significant announcement, Glassnode’s futures shorts liquidations metric reveals a substantial number of liquidations of leveraged short positions – from $10.23 million to $29.42 million between July 6 and 7, which could have exerted bullish pressure to propel BTC above the $22,500 level.

BTC price likely to fall back down

Raj Kapoor, founder and CEO of India Blockchain Alliance says given the crypto’s history of volatility, this uptick is in no way a long-term reversal and that BTC’s price is likely to fall back down.

“The uptick was accelerated when Binance put an offer [of] zero-fee trading for Bitcoin, with plans to eliminate the charges for more tokens in the future.  This was followed up with a stock market rally following the release of the Federal Reserve’s minutes,” Kapoor said.

Experts point out that the crypto market may not have hit the bottom as yet due to fears of a recession, several crypto deals falling apart, surging inflation, geopolitical crises, and rising interest rates. These concerns continue to drive extra short-term volatility in the crypto and stock markets.

Higher currency outflows

Exchange outflows have risen from 20,495 BTC against 18,648 exchange inflows on July 3, according to Glassnode. While on July 7, there were 50,966 BTC in exchange outflows against 43,601 BTC in exchange inflows.

Higher exchange outflows have led to higher buying pressure for BTC, with most of the volumes coming in from the retail segment. Metrics from Santiment, point to a significant downside in the supply held by whales since July 4, indicating that whales have been gradually reducing their positions as the price of BTC climbs higher.

Economic downturn priced in

Sharat Chandra Vice President of Research and Strategy at EarthID, says BTC has begun exhibiting decisive price action as investors have priced in the incoming data about an economic downturn.

“Lack of liquidity coupled with lower trading volume accounts for Bitcoin’s intraday activity. Bitcoin prices will continue to be volatile depending on the incoming data about the impending recession,” Chandra says.

BTC surge with high volumes increases optimism

Jenny Zheng, NFT Business Development Lead at Bybit, tells Benzinga that BTC’s hourly chart gives an optimistic outlook and a 4-hour chart suggests a double bottom formation, signaling a bullish price movement ahead.

“The volumes were only on Binance. This could be because of the removal of Bitcoin spot trading fees on its anniversary. But such action has certainly triggered more buys for Bitcoin on other exchanges too. This is reflected in various communities that I am in,” Zheng says.

 

Original Source: https://uk.investing.com/news/cryptocurrency-news/massive-volume-pushes-bitcoin-briefly-above-22500-heres-why-theres-a-spike-in-activity-2683826

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Massive Volume Pushes Bitcoin Briefly Above $22,500: Here’s Why There’s A Spike In Activity

Massive Volume Pushes Bitcoin Briefly Above $22,500: Here’s Why There’s A Spike In Activity

After being in the red for over a month, the largest digital currency by market capitalization, Bitcoin BTC/USD, has pared some of its losses and is trading up about 12% higher over the past week, making a brief high of $22,527 along with a spurt in volumes on July 8, before settling back to around $21,700 levels.

Experts caution the unexpected price uptick as a “one-off event” that is most likely a reaction to crypto exchange Binance’s decision to eliminate fees on BTC spot trading, and that it in no way signals a price reversal.

No substantial reason for price surge

Anndy Lian, Chief Digital Advisor to the Mongolian Productivity Organization, tells Benzinga the sudden price surge in BTC is unsustainable as there is no catalyst for the move.

“The only piece of good news that is closely linked to the surge would be Binance’s zero fees Bitcoin promotion. There were many people who were trying to gain VIP tiers, which resulted in a massive transaction volume. That volume can be subjected to wash trading and manipulations,” he says, adding that the incident is one-off.

Liquidation of leveraged short positions

Even as the price of BTC surged despite the lack of any significant announcement, Glassnode’s futures shorts liquidations metric reveals a substantial number of liquidations of leveraged short positions – from $10.23 million to $29.42 million between July 6 and 7, which could have exerted bullish pressure to propel BTC above the $22,500 level.

BTC price likely to fall back down

Raj Kapoor, founder and CEO of India Blockchain Alliance says given the crypto’s history of volatility, this uptick is in no way a long-term reversal and that BTC’s price is likely to fall back down.

“The uptick was accelerated when Binance put an offer [of] zero-fee trading for Bitcoin, with plans to eliminate the charges for more tokens in the future.  This was followed up with a stock market rally following the release of the Federal Reserve’s minutes,” Kapoor said.

Experts point out that the crypto market may not have hit the bottom as yet due to fears of a recession, several crypto deals falling apart, surging inflation, geopolitical crises, and rising interest rates. These concerns continue to drive extra short-term volatility in the crypto and stock markets.

Higher currency outflows

Exchange outflows have risen from 20,495 BTC against 18,648 exchange inflows on July 3, according to Glassnode. While on July 7, there were 50,966 BTC in exchange outflows against 43,601 BTC in exchange inflows.

Higher exchange outflows have led to higher buying pressure for BTC, with most of the volumes coming in from the retail segment. Metrics from Santiment, point to a significant downside in the supply held by whales since July 4, indicating that whales have been gradually reducing their positions as the price of BTC climbs higher.

Economic downturn priced in

Sharat Chandra Vice President of Research and Strategy at EarthID, says BTC has begun exhibiting decisive price action as investors have priced in the incoming data about an economic downturn.

“Lack of liquidity coupled with lower trading volume accounts for Bitcoin’s intraday activity. Bitcoin prices will continue to be volatile depending on the incoming data about the impending recession,” Chandra says.

BTC surge with high volumes increases optimism

Jenny Zheng, NFT Business Development Lead at Bybit, tells Benzinga that BTC’s hourly chart gives an optimistic outlook and a 4-hour chart suggests a double bottom formation, signaling a bullish price movement ahead.

“The volumes were only on Binance. This could be because of the removal of Bitcoin spot trading fees on its anniversary. But such action has certainly triggered more buys for Bitcoin on other exchanges too. This is reflected in various communities that I am in,” Zheng says.

 

Original Source: https://www.benzinga.com/markets/cryptocurrency/22/07/28009285/bitcoin-briefly-above-22-500-experts-remain-wary

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j