An NFT or “non-fungible token” comprises data stored or accounted for in a digital ledger and represents something specific. NFT's are exploding in popularity and getting mainstream attention and adoption, so here are the NFT statistics for 2022 to keep you informed
Whether you want to get into NFTs as an investor or an artist looking to mint their own NFTs, here are a few highlights comprising the most critical NFT related statistics covered in this article for you to work through:
- The most expensive NFT “The First 5,000 Days” sold for $69.3 million
- NFTs volume of sales jumped to $2.5 billion in 2021’s first half
- One minted NFT emits up to 211 kg of CO2
- As of July 2021, the average Bored Ape NFT sold for $36,000
- CryptoPunks is the world's first non-fungible digital art
But first… What is non-fungible? What is NFT?
“Non-fungible” means that something is unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. On the other hand, a piece of digital art or a one-of-a-kind trading card is non-fungible. If you trade it for a different card, you’d have something completely different.www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
The digital ledger, which functions the same as the technology behind cryptocurrencies, is referred to as Blockchain. Pieces of art, music, or digital files, including videos, photos, or in-game items, are all examples of different kinds of digital entities that can be turned into NFTs and put up for auction.
Despite the explosion of NFTs in 2022, the phenomenon remains a sub-reality without meaning for most people who are still unsure of it.
21 Non-Fungible Tokens (NFT) Statistics & Trends For 2022
Our roundup of the 21 key online NFT statistics can help you develop a better understanding of the latest crypto craze and what the future holds for it:
NFT sales volume skyrocketed to $2.5 billion in 2021’s first half
Source: Reuters ^
The NFT market surged to reach new highs in the second quarter of 2021, with transactions valued at $2.5 billion this year.
Marketplace data showed a massive jump from a mere $13.7 million recorded in the first half of 2020.
“The First 5,000 Days” artwork by Beeple, sold for $69.3 million, is the most expensive NFT of any type, ever
Source: The Verge ^
In a record-breaking sale for Beeple, the legendary artists' compilation of works sold for a whopping $69.3 million, cementing his position as one of the best-selling digital artists in the world.
Singapore-based crypto billionaire and serial entrepreneur Vignesh Sundaresan bought it at auction at Christie’s on March 11, 2021, for 42,329 ETH ($69,346,250 at the time).
Gunky's Uprising which sold for $1.33 million, is the most expensive NFT song ever
Source: Nifty Gateway ^
An anonymous buyer bought a song put up for auction by SlimeSunday and 3LAU to name the song as per his own wishes.
The iconic ‘Doge' meme broke all records when it sold for $4 million, making it the most expensive NFT meme ever.
Source: NBC News ^
A popular meme depicting a dog from the Shiba Inu breed, which had quickly achieved iconic stats, became the most expensive NFT meme to date.
The auction winner, @pleasrdao, who bought the Doge meme, paid via Ethereum.
In a groundbreaking sale; a plot of virtual land was sold for $913,228.20, making it the most expensive NFT virtual land/property ever
Source: Yahoo Finance ^
Sales occur regularly in the blockchain-based game Decentraland. Still, the nearly $1 million purchase of a single plot of virtual land by the real estate investment firm Republic Realm in 2021 fueled the demand for virtual or digital properties.
For clarity, the sales amount is enough to buy multiple properties in the real world.
A CryptoPunk bought by the billionaire Shalom Mechenzie for $11.7 million is the most expensive CryptoPunk ever
Source: Reuters ^
A CryptoPunk that shows an alien punk wearing gold earrings, sporting a red knitted cap, and a medical face mask became the highest priced CryptoPunk ever after being sold for a whopping $11.7 million via the Sotheby auction house.
An NFT representing the web's original source code became the most expensive NFT source code after selling for $5.4 Million at the Sotheby's auction house
Source: Wall Street Journal ^
The world wide web creator – Sir Tim Berner-Lee, auctioned off a piece of his 30-year-old original source code in a controversial sale, making it the most expensive NFT source code.
Critics against the decision to sell the code; argued that it went against the decentralized nature of the web.
“Forever Rose” by Kevin Abosch, which sold for $1 million, is the most expensive NFT picture
Source: CNN ^
The “Forever Rose” artwork was sold for $1 million on Valentine's Day in 2018, making it the world's most expensive piece of NFT art at that time.
The digital photo, which depicts a red rose, was bought by ten collectors who divided the cost evenly in cryptocurrency.
Over $100 Million NFTs have been sold in 2021 So Far
Source: bitcoinke ^
Non-Fungible Tokens (NFTs) are undergoing a huge boom following the widespread acceptance of cryptocurrencies. A spike in the number of crypto-millionaires looking to spend their crypto coins is another key driver.
Twitter founder – Jack Dorsey's first-ever tweet was sold as an NFT for $2.9 million in 2021, making it the most expensive NFT meme to date
Source: BBC ^
In a sale that contributed to the mainstreaming of NFTs, Twitter’s founder sold the first-ever Tweet sent by him to a Malaysia-based investor. More and more celebrities have done so since they jumped on the NFT bandwagon and sold off their digital assets.
Beeple's Crossroad which sold for $6.6 million at the auction house – Christie’s, is the most expensive NFT Video Ever Sold
Source: Reuters ^
The 10-second animation, which was sold in February 2021, shows a giant, Donald Trump, lying on the ground.
The net volume of NFT trading on the Ethereum blockchain exceeds $400 million
Source: Reuters ^
Non-fungible trading has grown by leaps and bounds and has an overall traded volume of $431 million, according to the latest research.
NBA Top Shot contributed $500 million of the $1.5 billion NFT trading volume in 2021
Source: Forbes ^
NBA Top Shots — a marketplace that enables trading of historical NBA moments — has rapidly developed into the largest NFT marketplace by total volume traded.
More than 45,000 unique wallets bought NFTs from popular marketplaces in 2021
Source: Non-fungible ^
In a period termed as “post-boom” by the NFT analysis company- Non-fungible, more than 45,000 new crypto-wallets engaged in NFT trading for the first time ever between May and June.
Grimes sold $6 million in digital art through NFTs
Source: The Verge ^
The Canadian music sensation, popular as Grimes, became the latest artist to cash in on the NFT gold rush by selling around 10 digital artworks. The collection's highest-selling piece was a one-of-a-kind video called “Death of the Old.”
The global market capitalization of NFTs jumped from $40.96 million in 2018 to $338.04 million in 2020
Source: Marketplacefairness ^
The trend demonstrates the NFT's unprecedented rise, their rapid acceptance globally, and how more money is being pumped into them at an exponential rate year by year.
Trading volumes for NFTs on Ethereum surpassed $400 million in March 2021
Source: Inlea ^
Ethereum being the basis for all the non-fungible tokens makes the trading volumes rise to newly established levels. A non-fungible token is a cryptographic token that can be both unique and unrepeatable. One that cannot be divided but can be used to represent objects in the real world.
As of July 2021, the average Bored Ape NFT sold for $36,000 on OpenSea
Source: Aljazeera ^
The Bored Ape Yacht Club – a collection of 10,000 unique digital collectibles on the Ethereum blockchain has undergone a 1,574 % increase from the launch price of $215 in April.
CryptoPunks is the world's first non-fungible digital art
Source: Research and Markets ^
CryptoPunks first launched in June 2017 and were developed by a two-person team, eventually becoming the world’s first-ever non-fungible digital art. CrryptoPunks is also one of the original NFT projects.
One minted NFT emits up to 211 kg of CO2
While it has resulted in many overnight millionaires, crypto-art is harmful to the environment owing to the computational processes involved in its creation.
Non-Fungible Tokens (NFT) Statistics: Summary
NFTs have quickly become all the rage owing to the continued revolution of blockchain technology. But, as with cryptocurrency, most financial pundits and art experts are skeptical. The whole thing could turn out to be a bubble in the long run if people give up the idea of buying something which isn't there.