How Much is Spent on NFTs Each Week?

According to NFT statistics, the number best NFT Marketplace of NFTs sold on the blockchain seems to be settling at around $10-20 million a week, and we’ve spent over $1 million in just one seven-day period.

This is quite impressive for such an early stage.

What Was the Total Value of NFT Sales In 2020?

The total value of all NFT sales in 2020 was $250 million, a whopping four times the size it had been just last year.

Compared to 2019, where there were only 62.9 million transactions traded on average per day, this shows that people are starting to see crypto as an opportunity not worth passing up!

Trading volume also reached an impressively high at almost half a billion dollars, with the market cap reaching over three hundred and thirty-eight million by December 31, 2020.

What Were NFT Sales Figures at the Start of 2021?

Nonfungible.com saw an enormous increase in sales for the first quarter of 2021, as they surpassed $2 billion total– a 131% increase from 2020’s figures.

And with more buyers attracted to purchase these non-traditional collectibles, it seems that their value is only going up, and there will be no stopping this new wave of collecting frenzy.

What NFT Market Segments Are the Fastest Growing?

It turns out that the collectibles market is proving to be a vital aspect of growth in NFTs.

One example is CryptoPunks, small pixel-art images generated algorithmically and sold through nonfungible.com for Ethereum’s Ether cryptocurrency.

Other examples include other crypto trading card games like NBA Top Shots which have seen similar rapid rates of return thanks to their inclusion on sites like eBay or Amazon, where people purchase cards by pack– not individual items.

NFT Trends 2022

Number of Sales Over Time.

After a spike in December 2017, weekly NFT sales only grew to around 15,000.

But after the success of November 2019-April, 2020, weeks generally ranged between 30,000 and 80 000 with few exceptions for going as low as 10 thousand or below.

Value of Sales Over Time.

NFT sales have been steadily increasing over the past year, doubling in value since September 2020.

A few months later, this increase started to plateau and decrease but has stayed above $10 million every week so far.

Increase in Active Wallets Over Time.

At the 2017 peak, there were over 34,000 active wallets in a week.

This quickly dropped and settled into an average of 2-4 thousand each week, which slowly increased to 4k– 8k by late 2020.

By February 2021, there was an upsurge with weekly active wallets going above 10k for the first time since 2017.

This number doubled by March 2021 but has since stayed in the range of 8,000 and 12,000. Hovering around this range means weekly wallets will triple in four years.

What Are NTFS?

Aside from grappling with NFT statistics, let’s find out exactly what they are.

NFTs are a new way to approach the economy and more about your own.

Unlike fungible items, NFTs have no identical equivalent that can be exchanged with each other– so while two books may look similar in appearance but one is written by some famous historical figure or influential artist, they’re not interchangeable.

It’s not difficult to get a perfect copy of digital art, but the original is worth more. You can tell if something isn’t original by looking at it closely and knowing its creator’s style.

Once you put your work on blockchain, however, there are no other pieces out there that truly match up with yours– it becomes unique in both form and content because nothing else matches up so perfectly as what came before it.

Due to its uniqueness, people usually purchase NFTs just like you would purchase an original artwork from an artist.

How Do NFTs Work?

It is pretty successful on NFT statistics, but what is NFT? The blockchain serves to authenticate and track owners so that no one can counterfeit it.

However, as all content is not saved on the blockchain network itself, owners rely on their server not shutting down or changing anything to maintain ownership and possession over their digital collectibles.

A Brief History of NFTs

Bitcoin has been around for a while now, and people are starting to test its limits.

One of these tests is by attaching real-world assets like stocks, houses, or even apples, eggs, or oranges (yes, those exist) as fractions of bitcoins with the goal that they would be able to if someone traded them transfer physical goods along with it.

Solis is a multi-company ecosystem of IP creation, distribution, and monetization that utilizes its own token to organically connect Hollywood talent Solis studios and curated content to the world, through the first entertainment industry-focused tokenized ecosystem and Web 3.0 decentralized NFT marketplace