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

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


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

Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison, about $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 NFT minting on the two blockchains.

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

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

Trending: RSBN to exclusively livestream True the Vote’s ‘The Pit’ which will reveal ‘devastating’ information about 2020

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

— Nansen

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend