Crypto Users Spent $2.7 Billion Minting NFTs in H1 2022: Report

Over one million unique wallet addresses were involved in the minting process, signaling that token market activity non-fungible remained strong.
New
According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting non-fungible tokens ( NFT) on the Ethereum blockchain during the first half of 2022. An overwhelming majority of strikes took place on OpenSea.io.

The strike took place on 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. By comparison, around $107 million worth of NFTs were minted on BNB Chain and $77 million for Avalanche. A total of 263,800 unique wallet addresses were involved in the NFT minting on both blockchains.

1/ Market participants spent 963,227 ETH (about $2.7 billion) minting NFTs in the first half of 2022 .

So what did the NFT projects do with the money they raised?

Read our latest research here: https://t.co/ifgKdTnF9S
— Nansen (@nansen_ai) August 2, 2022
Sixty-nine NFT collections were launched on May 22 alone, resulting in a daily mint volume exceeding 120,000 ETH. The total number of NFT collections minted and sold on Ethereum during the first half of the year was 28,986. More than two-thirds of NFT projects collected less than 5 ETH, although 140 collections collected well over 1,000 ETH. Cumulatively, the top five NFT collections on Ethereum accounted for 8.4% of the overall mintage. These include Pixelmon-Generation 1, Moonbirds, VeeFriends Series 2, Genesis Box, and World of Women Galaxy.

Related:

Crypto Aug 2, 2022 0 92 Add to Reading List

Crypto Users Spent $2.7 Billion Minting NFTs in H1 2022: Report

Over one million unique wallet addresses were involved in the minting process, signaling that token market activity non-fungible remained strong.

Crypto users spent $2.7B minting NFTs in first half of 2022: Report

New

According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting non-fungible tokens ( NFT) on the Ethereum blockchain during the first half of 2022. An overwhelming majority of strikes took place on OpenSea.io.

The strike took place on 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. By comparison, around $107 million worth of NFTs were minted on BNB Chain and $77 million for Avalanche. A total of 263,800 unique wallet addresses were involved in the NFT minting on both blockchains.

1/ Market participants spent 963,227 ETH (about $2.7 billion) minting NFTs in the first half of 2022 .

So what did the NFT projects do with the money they raised?

Read our latest research here: https://t.co/ifgKdTnF9S

— Nansen (@nansen_ai) August 2, 2022

Sixty-nine NFT collections were launched on May 22 alone, resulting in a daily mint volume exceeding 120,000 ETH. The total number of NFT collections minted and sold on Ethereum during the first half of the year was 28,986. More than two-thirds of NFT projects collected less than 5 ETH, although 140 collections collected well over 1,000 ETH. Cumulatively, the top five NFT collections on Ethereum accounted for 8.4% of the overall mintage. These include Pixelmon-Generation 1, Moonbirds, VeeFriends Series 2, Genesis Box, and World of Women Galaxy.