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NFT sales surge 67.57% in one year, generate billions in trading volume: Report

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NFT sales surge 67.57% in one year, generate billions in trading volume: Report

  • The number of non-fungible tokens sold in 2022 reached 101 million.
  • The NFT market generated $24.7 billion in trading volume in 2022, a minor fall from $25.1 billion in 2021.

The number of Non-Fungible Tokens [NFTs] sold in 2022 reached 101 million, a surge of 67.57% over the previous year. The results were released as part of a Dapp Radar report on blockchain and decentralized application adoption in 2022.

As per the report, the Ethereum [ETH] ecosystem dominated the NFT ecosystem, accounting for 21% of the market and processing over 21.2 million transactions. Wax [WAXP] (14.5 million), Polygon [MATIC] (13.3 million), and Solana [SOL] (12.9 million) followed suit.

Transaction activity in the Solana and ImmutableX ecosystems increased by 440% and 315%, respectively, compared to 2021. Meanwhile, the data showed no change in the Binance [BNB] ecosystem, with approximately one million transactions expected in both 2021 and 2022.

Within the last two years, the dominant category of dApps on various chains shifted as well. DeFi apps dominated all but two of the 13 chains in 2021. There was a significant shift toward gaming and NFT dApps in 2022.

Ethereum and Cardano [ADA] remain the most active developers, with 223 and 151 active protocols, respectively. Modular blockchains such as Polkadot [DOT] and Cosmos [ATOM] saw their network developer activities rise by 16% and 131.7% respectively.

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Source: Dapp Radar

NFT trades were worth $24.7 billion in 2022, down from 2021

According to a previous Dapp Radar report, the NFT market generated approximately $24.7 billion in organic trading volume across blockchain platforms and marketplaces in 2022. This represented a slight decrease from the $25.1 billion total recorded in 2021.

The data excludes trades suspected to be wash trades, or trades that have been manipulated in some way.

Source: Dapp Radar

2022 saw the transaction of 101 million NFTs, compared to around 58.6 million NFT transactions in 2021. In other words, most of the NFTs were traded at lower USD values due to falling NFT prices amidst a crumbling crypto market.

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NFTs have continued to play an important role in the growing Web3 industry. They have also initiated a shift away from hype-based drops to utility-centric projects with long-term value.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Dappradar Report Shows Blockchain Gaming Thrived Amid FTX Collapse, Sector Accounted For 46% Of All Network Activity

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Dappradar Report Shows Blockchain Gaming Thrived Amid FTX Collapse, Sector Accounted For 46% Of All Network Activity

According to a report published by the global dapp store platform, Dappradar, blockchain gaming hardly felt the impact of the recent FTX collapse and the crypto market carnage that ensued. Dappradar’s Blockchain Games Report indicates that the number of daily unique active wallets (dUAW) participating in blockchain gaming dropped slightly to 800,875 UAWs in November, down from just above 900,000 UAWs recorded during the last two months. Moreover, Dappradar says that blockchain gaming accounted for “a healthy 46% of all blockchain activity.”

Report: Blockchain Gaming Shrugs off FTX Collapse With More Than 800,000 Daily Unique Active Wallets

A study published by Dappradar and shared with Bitcoin.com News shows that despite the recent FTX fallout, blockchain gaming has remained steadfast. Presently, a significant amount decentralized apps (dapps) from dappradar.com’s top dapp list are blockchain games like Alien Worlds, Splinterlands, Farmers World, Benji Bananas, and Planet IX.

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Dappradar’s report says the most popular blockchain in terms of blockchain gaming was Wax, and the BNB chain was the second-most popular blockchain. Wax had an average of 344,284 daily UAWs, while the BNB blockchain saw an average of 171,269 dUAWs.

The BNB blockchain did take a hit after the FTX collapse, as the number of average dUAWs dropped by 35% in November. Dappradar’s study says Solana took a much bigger hit as November’s gaming activity via Solana was down 89.42%.

Solana’s dUAW stats indicate it dropped to “2,326 daily UAWs, the lowest number it has registered thus far,” the Dappradar researcher’s noted. “The Wax-based Alien Worlds managed to grow its user base by an impressive 25% to emerge as the most-played game of all, with 212,000 dUAWs,” the report details.

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Splinterlands was the second-most-played blockchain game with 169,000 dUAWs, Dappradar explains. “​​Upland, the AR mobile estate game, continues to be on a downward trend in activity, and in October it reached 31,595 dUAW,” Thursday’s report highlights.

“The mobile game Trickshot Blitz had an astonishing increase of 70% in activity month over month. The casual game on the Flow blockchain reached 23,086 dUAW.” The report also shows that interest in Axie Infinity continues to decline. The report states:

Axie Infinity continues along its downward trend: this October they had an average of 19,434 dUAW, a 21% decrease from September. Nonetheless, they announced the release of Axie Infinity: Raylights, their first third-party product utilizing existing Axie NFTs in a new way.

Want to read Dappradar’s Blockchain Games Report in its entirety? You can check it out here.

Tags in this story

Activity, Alien Worlds, axie infinity, Blockchain, blockchain gaming, blockchain gaming publishers, Blockchain Use, blockchains, dappradar, dappradar.com, dApps, dUAW, dUAWs, Flow blockchain, Games and Blockchain, Gaming, most-played blockchain game, Raylights, Solana, Splinterlands, Trickshot Blitz, Upland, WAX

What do you think about Dappradar’s blockchain gaming study? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Dappradar.com,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Dappradar

OpenSea Ethereum trading volume declines 13% as BAYC floor switches platforms

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OpenSea Ethereum trading volume declines 13% as BAYC floor switches platforms

OpenSea Ethereum trading volume declines 13% as BAYC floor switches platforms Oluwapelumi Adejumo · 4 hours ago · 2 min read

DappRadar data shows that the trading volume of other layer1 blockchain networks NFTs trading on OpenSea is up except that of Solana and Ethereum.

2 min read

Updated: October 31, 2022 at 11:39 pm

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Cover art/illustration via CryptoSlate

OpenSea’s Ethereum (ETH) NFTs trading volume has declined for the fourth consecutive month, dropping 13% to $303M, the lowest since June 2021, according to Dune Analytics data.

According to the data, OpenSea’s Ethereum monthly active traders have also dropped for the fourth consecutive month. Active traders on the platform dropped by roughly 5% to 332,824 from 362,957 recorded in September.

Token Terminal data shows that the NFT marketplace revenue has also been on a downward spiral in the past six months. OpenSea generated over $40 million in May; however, it was only able to generate around $8.2 million as of Oct. 31.

OpenSea’s declining number is coming amidst a broader crypto market winter that has seen NFTs’ trading volume and the value of these digital assets tank to new lows. A recent DappRadar report highlighted seven NFTs that traded for record prices last year but are now worth only a fraction of their previous value. Cumulatively, investors who bought these NFTs lost around $30 million.

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DappRadar stated that the decline results from “declining interest in NFTs and dips in crypto prices across all blockchains.”

Other chains on the up

DappRadar data shows that the trading volume of other layer1 blockchain networks NFTs trading on OpenSea is up except that of Solana (SOL).

According to the data, Polygon (MATIC) NFTs on OpenSea rose 69.25% in the last 30 days to $10.6 million. This was largely fuelled by the new wave of interest in Reddit NFT avatars. The famed NFT collection reportedly onboarded 3 million new users to the space.

Avalanche-based (AVAX) NFTs and those on Klatyn (KLAY) rose by 519% and 73.92% to $972,130 and $13,800, respectively.

Meanwhile, Solana NFTs on OpenSea tanked by 57.59% to $2.16 million in the last 30 days.

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DappRadar reported that Cardano (ADA) NFTs are on the rise, as its NFT trading volume hit $191 million in October, while its network transactions reached 82,880 on Oct. 19 – the highest number since May. Cardano NFTs are not trading on OpenSea.

OpenSea is losing dominance

OpenSea appears to be losing its dominance in the market as data shared by NFTStatistics stated that the 23rd cheapest floor price of Bored Apes NFT is on the largest marketplace.

Don’t think I’ve seen this before — the OpenSea floor is the 23rd cheapest listed ape. 22 cheapest prices are on other exchanges. pic.twitter.com/qOrGsU6mKB

— NFTstatistics.eth (@punk9059) October 31, 2022

According to community members, sellers are deserting the platform for rivals because of the benefits others have for listing on them. A user pointed out that Blur IO was incentivizing users with the promise of a $BLUR token airdrop planned for January 2023.

Token Terminal data shows Blur users have risen by 3,082.9% within the last 30 days. The newly launched NFT platform also revealed that it reached a new all-time high of 1694 ETH volume on Oct. 29.

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Blur reached a new all time high of 1694 ETH volume today!

This is a huge win for the Blur community who will receive a majority of $BLUR. pic.twitter.com/seiiOnovdL

— Blur (@blur_io) October 29, 2022

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1 month

30-Day NFT Sales Are 88% Lower Than They Were 8 Months Ago, Google Searches Nosedived

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30-Day NFT Sales Are 88% Lower Than They Were 8 Months Ago, Google Searches Nosedived

At the end of January 2022, non-fungible token (NFT) sales raked in $4.77 billion and NFT sales have slipped month after month since then. Last month, $549.82 million in NFT sales took place in September which shows monthly NFT sales are more than 88% lower than they were in January. Furthermore, after the search term “NFT” reached the highest score on Google Trends last January, tapping a score of 100, the last week of September’s score was 12, which is also 88% lower in terms of interest.

NFT Trade Volume and Search Queries Slide — Sales and Interest Down 88%

Non-fungible token (NFT) technology was very popular at the end of 2021 and during the first month of 2022. In fact, in terms of Google Trends data (GT), worldwide the term “NFT” scored the highest score a search query can get on the GT database, which is 100.

Google Trends (GT) search query data for the term “NFT.”

In fact, it was the first time the search term tapped this region according to the GT database, but today the score is 88% lower with a score of 12 during the week of September 25 through October 1, 2022. Today, China is the most active region according to GT metrics and the country is followed by Hong Kong, Singapore, Nigeria, and Taiwan.

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Google Trends (GT) search query data for the term “NFT.”

Sales have slid since January as well, as records show that NFT sales were just above the half-billion mark or approximately $549.82 million. The number is approximately 88.49% lower than the $4.77 billion in NFT sales recorded eight months ago.

May was the last month that NFT sales printed above the $1 billion mark and that month $3.18 billion in NFT sales were recorded. The following month was a significant slide down to $879 million and in July, NFT sales saw $682 million. August sales slid lower after $633 million in NFT sales were recorded that month, and September’s sales are 13.27% lower.

So far, the first week of October 2022 has seen $105.22 million in NFT sales via 191,175 unique buyers. 30-day metrics indicate that the top NFT collection in terms of sales was Bored Ape Yacht Club (BAYC) as the collection printed $30,964,305 in sales last month.

However, that’s 37.49% lower than the sales BAYC recorded the month prior. Statistics aggregated by cryptoslam.io show the project QQL Mint Pass has seen $27.80 million in sales this month and Cryptopunks captured $23.49 million.

The top five NFT sales during the last 30 days. Three out of five were Bored Apes and two NFTs were from the Otherdeed collection.

The generative art NFT project with artwork by Tyler Hobbs and Dandelion Wist Mané is a new collection with no prior market data, but Cryptopunks’ $23.49 million in NFT sales are up ​​12.27% higher than the 30 days prior.

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Four specific projects saw three-digit gains this past month compared to last month’s NFT sales data which include Renga, Gods Unchained, Ethereum Name Service (ENS), and NFL All Day, respectively. During the past month, most of the sales volume derived from the Ethereum blockchain as it recorded $345,633,653 in sales.

The top ten collections in terms of 30-day sales statistics according to cryptoslam.io.

Ethereum’s sales were followed by Solana’s $114.32 million, Flow’s $20.61 million, and the $18.95 million from Immutable X NFT sales. While Ethereum-based NFT sales dominated, month-over-month stats show ETH sales are down 21.26%. 30-day metrics indicate Solana-based NFT sales are up 109.23% and Flow NFT sales are up 40.58%. NFT sales that derive from the Immutable X network saw a month-over-month increase of around 125.30%.

Coincidently, the top five most expensive NFTs sold during the last 30 days stem from Yuga Labs’ associated NFT collections like the Bored Ape Yacht Club and Otherdeeds. The most expensive NFT sold within the past 30 days was Bored Ape #8585 for $1.03 million and the second most expensive NFT sold was Bored Ape #441 which sold for $350,991 19 days ago.

Tags in this story

1 month, 30 day stats, 8 months, BAYC, Bored Ape Yacht Club, Bored Apes, cryptopunks, cryptoslam.io, dappradar, ETH, Ethereum, Flow, Immutable X, Interest, January’s Sales, NFT sales, NFT sales volume, NFT search queries, NFTs, Otherdeed, QQL Mint Pass, search queries, September’s sales, Solana, Statistics, Yuga Labs

What do you think about monthly NFT sales being down 88% lower than the sales recorded last January? What do you think about the NFT sales action during the last 30 days? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Google Trends, Cryptoslam.io,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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