NFT Sales Hit 101 Million In 2022: DappRadar Report

NFTs News
croelan
23 January 2023
4 minutes read

NFT Sales Hit 101 Million In 2022: DappRadar Report.

NFT Sales

According to a recent report by DappRadar, despite the current crypto and NFT bear market, the sales of NFTs the past 2022 has been nothing short of successful. The report shows that NFT sales reached up to 101 million within the year, a 67.57% increase from the previous year.

The report says that similar to 2021, the Ethereum network continues to take the throne in the overall NFT ecosystem, reportedly holding up to 21% of the overall market share. This means Ethereum had processed around 21 million transactions within the year, followed up by WAX (14.5 million), Polygon (13.3 million), and Solana (12.9 million).

It’s also pointed out that Solana was one of the biggest growing blockchains within 2022, seeing a reported 440% increase in terms of transaction activity within the year.

Finally, the report shows that both Ethereum and Cardano are named as the blockchains with the most active developers working on-chain. Ethereum had a reported 223 active protocols in 2022, while Cardano had around 151. Both of these are up by 16% and 130% respectively in comparison to the previous year.

NFTs In 2023

Although NFT sales have had a good run throughout 2021 and 2022, many in the community have voiced their optimism for the NFT ecosystem in the coming 2023.

This is due to the fact that despite the crypto bear market experienced towards the end of 2022, many NFT projects including Yuga Labs’ Otherside, Bored Ape Yacht Club, as well as other major bluechip projects like Doodles and Azuki have made it publicly known that they have a lot of different projects and initiatives planned within the coming months, building back the community’s bullishness towards NFTs.

Just a few weeks ago the NFT market saw a massive surge, many collections seeing their floor prices and trading volumes rise considerably. This NFT market surge was mostly led by Yuga Labs NFTs, including BAYC, MAYC, BAKC, and Otherdeeds’ Otherside, totalling in around $56.3 million in sales within a week.

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