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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 175% from $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”.

www.anndy.com
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How many cronos tokens are there? CRO token circulation analysis

How many cronos tokens are there? CRO token circulation analysis

Crypto.com is one of the biggest crypto exchanges out there, however, recent negative sentiment and the collapse of the FTX crypto exchange have sent its native token, cronos (CRO), into a downwards spiral, forcing it to lose over 90% of its value from $0.8992 in November 2021 to $0.0698 a year later.

What are the latest token analytics suggesting, and how many cronos tokens are there?

What is CRO?

CRO is the native cryptocurrency of the Crypto.com chain and the Cronos EVM Chain. It was formerly known as the Crypto.org Coin before being renamed to CRO.

Crypto.com is a public, open-source and permissionless blockchain that aims to help drive the mass adoption of blockchain technology through decentralised finance (DeFi), payments and non-fungible tokens (NFTs). The platform has named itself as the “next generation public blockchain”.

The platform was co-founded in 2016 by Kris Marszalek, Rafael Melo, Bobby Bao and Gary Or and is now operated as a desktop and mobile application.

Crypto.com's key features

The Cronos EVM Chain is the first ever Ethereum-compatible blockchain that was built on Cosmos SDK technology. It is an open source, permissionless Layer 1 chain that aims to scale the DeFi, GameFi and overall Web3 communities by letting builders instantly port apps and crypto assets from other chains while benefiting from low transaction fees, high throughput and fast finality.

The CRO token powers the ecosystem and is used for staking, which grants users a number of rewards and helps maintain the platform’s security and decentralisation. The cronos cryptocurrency is also used to settle transaction fees on the Crypto.org Chain.

Latest CRO market news

2022 has not been the best year for CRO. The token has fallen by more than 87% from its all-time high of $0.8992 on 24 November 2021 to $0.1093 on 17 June 2022. The dip in the CRO price was heightened as Crypto.com announced on 1 May 2022 that it would be slashing staking rewards for all tiers of its VISA cards “to ensure long-term sustainability”, effective as of 1 June 2022.

CRO price chart

Between mid-July 2022 and end of September 2022, Crypto.com has received a number of licence updates worldwide, including Italy, Cyprus, South Korea, Australia, Canada, the UK and France. In addition, on 12 October 2022 the firm said that Paris was established as its European Regional Headquarters and invested €150m (around $155m, as of 18 November) in France to support market operations.

Between 25 October 2022 and 28 October 2022, Crypto.com had signed three MOUs: one with the game software developing studio ACT Games; one with the city of Busan in South Korea to advance the blockchain industry; and one more with global content studio A Story to develop NFT collaborations.

However, amid all the positive news, Crypto.com has also been caught in an array of negative news. An article published on 6 October 2022 by Ad Age tech claimed that the platform had cut off deals with a number of big sports organisations, including the Los Angeles’ Angels City Football Club, the 2022 FIFA World Cup in Qatar and the online sports tournament host Twitch Rivals. The article cited unanimous former and current Crypto.com employees.

In addition, according to a series of Tweets by the article’s journalist Asa Hiken, between “June and August, 30-40% of Crypto[dot]com’s entire workforce left the company, per former and current employees. That’s 2,000+ departures — the vast majority of which were layoffs.”

The company did not address the reports.

Now, let’s take a closer look at how many cronos tokens there are now.

How many cronos tokens are there?

So, let’s have a look at how many cronos tokens are available in circulation as of 18 November 2022.

According to data provided by CoinMarketCap, the maximum supply of the cronos tokens is 30.2 billion, meaning that once the total number of cronos tokens in circulation reaches that value, new tokens can no longer be mined. The current circulating supply of the CRO coin surpassed 25 billion.

However, this was not always the case for the cryptocurrency.

When the cryptocurrency was launched in 2018, its maximum supply was fixed at 100 billion coins. But, in order for the Crypto.com network to become fully decentralised at Mainnet Launch, Crypto.com decided to burn 70 billion CRO tokens in what it called “the largest token burn in history”. This was announced by the platform on 22 February 2021.

The platform released a schedule which shows that an initial batch of 59.6 billion CRO tokens was burned on 22 February 2021. Meanwhile, 10.4 billion coins were locked in a smart contract and would be burned every month as they get unlocked. This was aiming to increase the cryptocurrency circulating supply from 24% at the time to over 80%.

The remaining 5.9 billion CRO tokens were distributed in the following way:

  • 5 billion CRO were allocated to mainnet block rewards for Chain validators and delegators
  • 0.9 billion CRO were allocated to the development of the Chain ecosystem

Of that 70 billion burned:

  • 20 billion tokens came from the platform’s capital reserve
  • 5.5 billion coins came from the platform’s community development
  • 10.4 billion tokens came from secondary distribution and launch incentives
  • 20 billion tokens came from ecosystem grants
  • 20 billion tokens came from network long-term incentives

Who are the biggest CRO token holders?

Now that we have established how many cronos tokens are in circulation, let’s take a look at the biggest CRO token holders.

Data provided by etherscan.io showed that, as of 18 November, there were 281,902 CRO holders in total. The 10 biggest CRO holders collectively owned 92.54% of the total token supply in circulation, meanwhile the top 100 owned 95.93%.

The website noted that the top account holding the most CRO tokens in total was a Null Address owning over 77 billion coins, amounting to 77.89% of the total circulating supply. Crypto.com was also among the top CRO holders in the world, owning around 7 billion tokens or approximately 6.9% of the total supply.

Analyst thoughts

Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of ‘NFT: From Zero to Hero’ told Capital.com that while burning 70% of the then maximum CRO token supply was a good decision, doing so in 2021 was a “downside”.

“Personally, I would prefer them to burn and then buyback in stages of burning such a huge amount. The burn back then did make the market perceive that the remaining tokens have more value but that was short lived.”

Lian added that taking into consideration everything that has happened with the FTX crypto exchange in recent weeks, CRO holders are also getting anxious about the wellbeing of the Crypto.com platform, however, Crypto.com CEO Kris Marszalek’s live AMA session on YouTube on 14 November 2022 helped calm those worries down.

“Crypto.com is still facing potential bank run in my humble opinion. This to me is one of the biggest risks that CRO has a direct impact on.”

The bottom line

While knowing key info about the cronos tokenomics and circulating supply is important for accessing the project’s health, it shouldn’t substitute your own research. You should always conduct your own due diligence before trading, looking at the latest news, technical and fundamental analysis, and a wide range of analysts’ opinions before making any trading decision.

Keep in mind that past performance is no guarantee of future returns. And never trade or invest money that you cannot afford to lose.

 

Source: https://capital.com/how-many-cro-tokens-are-there-crypto-com-circulation-analysis

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”.

www.anndy.com
j j j

After 30% rally in 24 hours, can Shiba Inu offer more upside?

After 30% rally in 24 hours, can Shiba Inu offer more upside?

New Delhi: Meme token Shiba Inu was in the spotlight on Wednesday as the token zoomed over 31 per cent in the last 24 hours.

The popular meme coin listed on the trading platform Robinhood apart from Solana, Polygon and Compound. With this, investors can now access 11 cryptos on its platform, including Bitcoin, Ethereum and Dogecoin.

Among the newly listed tokens, Shiba Inu was the most abuzz as it rallied 31 per cent to $0.00002977 from $0.00002272 within 24 hours. However, the token is still 65 per cent below its all-time peak of $0.00008 hit in October 2021.

Volumes of Shiba Inu also witnessed a spectacular jump of 475 per cent as SHIB tokens worth more than $4.36 billion exchanged hands in the last 24 hours.

Ishan Arora, Partner, Tykhe Block Ventures said the Shiba Inu will attract ample eyeballs as it has listed on Robinhood, the largest retail stock trading app.

The users can quickly buy Shiba Inu with just a click without worrying about exchanges or wallets.

The 15th largest crypto token was commanding a market cap close to $16 billion with a total of 549,063.28 billion SHIB tokens in supply, the data from Coinmarketcap suggested.

Anndy Lian, Chairman, BigONE exchange said buzz among retail investors for Shiba Inu is more compared with other coins that got listed on Robinhood at the same time.

Analysts at BigONE still see an upswing of 20-80 per cent gain from the current position. The analysis was released a few days before the Robinhood announcement.

“This spike in price could also help other promising meme coins such as Floki Inu, Kishu Inu, Babydoge or the newer ones on Cronos chain such as Croki gain more traction,” he added.

The spike in Shiba Inu also extended to other tokens. Baby Shiba Inu, Dogey Inu, Banano, SafeMoon Inu, BitShiba, Shiba Girlfriend and Flok Inu rose up to 22 per cent.

However, meme tokens are highly volatile in nature and lack sound fundamental value. Experts suggest that investors should not blindly punt on such joke coins, which are prone to become junk coins.

Arora suggests that investors need to be extra cautious with their investment in the meme tokens, especially in the current volatile market conditions.

Shiba Inu investors are hopeful about SHIB token price reaching 1 cent in 2022. However, SHIB will have to increase 403 times to reach that level this year. In the year 2021, Shiba Inu had risen 60 times in a span of six months.

There has been news of Ethereum whales purchasing Shiba Inu tokens in bulk. If the ETH whales are shifting to Shiba Inu, it is evidence of increasing trust for the Shiba Inu ecosystem. However, the buying from whales could not be verified.

 

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”.

www.anndy.com
j j j