BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home NFT

NFT Collectors Show More Expenses in 2022

Alexa by Alexa
June 9, 2022
in NFT
Reading Time: 2 mins read
A A
NFT Collectors Show More Expenses in 2022
1
SHARES
11
VIEWS
Share on TwitterShare on Reddit

The value of NFTs sent to marketplaces this year has already surpassed $37 billion, which is approaching the whole amount delivered in all of 2021.

You might also like

Around The Block – MAR 24 Week in News

NFT Marketplace, Magic Eden Launches Marketplace for Bitcoin Ordinals

The Rise of NFT Wash Trading: What’s Driving the Surge?

Blockchain technology and smart contracts may bring about a new era of cryptocurrencies. In 2021, investors sent $40 billion in virtual currencies to smart contracts related to NFT collections and marketplaces, according to a Chainalysis study.

NFT Collection Activity Still Stands Strong Yet Inconsistent

According to the study, NFT transaction volume has been decreasing since mid-February. The NFT market made a brief resurgence in mid-April owing to the recent excitement surrounding Moonbirds and the Bored Ape Yacht Club’s metaverse project, Otherside, according to reports.

Despite the fact that the value of non-fungible token transactions has increased considerably since last year, industry growth has been patchy.

Despite brief-term changes in NFT transaction volume, the number of people buying and selling NFTs globally has remained consistent, with 950,000 distinct addresses buying or selling NFTs in Q1 2022.

As of May 1, 2022, 491,000 distinct addresses have used NFTs to conduct transactions, keeping the market on track to continue its participation increase.

The Global Influence of NFTs

By analyzing the online traffic of the leading NFT collectors’ marketplaces, Blockchainalysis found that NFTs attract users from all over the world. Central and Southern Asia are in first place, followed by North America and Western Europe.

According to the new report, the NFT market has not collapsed. The Wall Street Journal published a story claiming that NFT sales had stagnated, but the findings of this new research directly contradict this conclusion. According to the article, “the NFT market is collapsing.”

According to the WSJ, data from Nonfungible indicates that NFT sales have decreased by 92% since an all-time high in September 2021. Since a peak in November 2021, wallets in the Ethereum (ETH) NFT market have fallen by 88%.

On May 5, 2018, Chainalysis released a detailed study revealing how blockchain technology may be used to fight money laundering and terrorist financing in the global financial system. This comes just one day after CoinBase’s debut of its in-house NFT marketplace failed to generate much buzz. On May 4th, on-chain data revealed that only 150 transactions took place in the new market.

NFT investors have been cashing out since February, but the number of people in the market has remained consistent. According to the study, 95% of CoinBase’s users are involved in NFT transactions.

As with other digital assets, NFTs attract a wide range of investors from all over the world. However, when it comes to geographic regions, Central and Southern Asia had the highest level of engagement in Q1 2022.

Tags: NFT
TweetShareShare

Recommended For You

Around The Block – MAR 24 Week in News

by BlockNews Team
March 24, 2023
0
Around the Block

Introduction In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of March 20th....

Read more

NFT Marketplace, Magic Eden Launches Marketplace for Bitcoin Ordinals

by BlockNews Team
March 23, 2023
0
magic eden

Magic Eden becomes the first major Nft marketplace to join the Bitcoin ordinals wave.  Magic Eden bitcoin ordinals marketplace launched without royalty standard.  Bitcoin ordinals surge in popularity. ...

Read more

The Rise of NFT Wash Trading: What’s Driving the Surge?

by BlockNews Team
March 23, 2023
0
NFT

NFT wash trading volume increased by 126% in February 2023 on the top 6 marketplaces, reaching $0.58 billion, following the recovery of NFT marketplace trading volume. X2Y2, Blur,...

Read more

Sony & NFTs? Sony Announces Cross-Platform NFT Framework

by BlockNews Team
March 21, 2023
0
sony logo

An online patent suggests that tech giant Sony Interactive is exploring the use of NFTs on their PlayStation Platform. The patent's details can get complicated in parts, but...

Read more

Moonpay CEO Seeks Mass NFT Adoption with the ‘”Mom Test”,

by BlockNews Team
March 21, 2023
0
moonpay

MoonPay is working towards its goal of "onboarding the world to Web3," according to its interview with Decrypt MoonPay has developed Hypermint - a platform that allows businesses...

Read more
Next Post
Shiba Inu Founder Ryoshi Deletes All Social Media Posts

Shiba Inu Founder Ryoshi Deletes All Social Media Posts

Related News

Russia-Crypto

Crypto Settlements On the Rise in Russia as Sanctions Limit Fiat Options

October 12, 2022
Smart Contract

Smart Contracts: What Are Its Uses?

November 5, 2022
Caradno-Coin

Cardano’s Much-Anticipated Vasil Upgrade Goes Live

September 23, 2022

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 24 Week in News March 24, 2023
  • Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption March 24, 2023
  • UK to Mandate Declaration of Crypto Holdings in Tax Forms March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?