The price of Ethereum, BNB Coin, Solana and other DeFi altcoins continued to run this week. New data in a report by DappRadar reveals that there were more NFTs sold in 2022 than the previous year.
DappRadar: 2022 NFT Sales Soared
In other good news for DeFi cryptocurrency platforms, NFTs sold last year exceeded sales figures from the previous year. A new report from on-chain analytics firm, DappRadar, reveals how NFTs are reshaping digital ownership in the 2020s.
101 million non-fungible tokens were sold in 2022. This is a staggering 67% increase over the number of NFTs sold in 2021.
These figures are extremely indicative of the popularity and durability of NFTs. Much like Bitcoin and smart contract blockchains before them, critics of NFTs in 2021 have declared the blockchain product a passing fad. They said that most of these non-fungible tokens would ultimately be worthless.
Furthermore, they stated that the blockchain industry will eventually stop creating new NFTs and the supply will collapse. Even with the crypto winter, production and units sold by the entire industry have increased. They warned that NFT sales volumes were stagnating.
It is therefore important to correct the perception of sales of non-fungible tokens for registration. Because NFTs had a few months of decline in 2022, but overall blockchainers minted and sold more new NFTs in 2022 than any year before. Additionally, the year-over-year sales growth of non-fungible tokens has been absolutely massive in 2022.
Revenue from NFT sales decreased in 2022, but not by much. Last year, the non-fungible exchange recorded a trading volume of $24 billion. The previous year, NFTs changed hands for $25 billion in revenue.
Thus, the market barely missed reaching the same turnover volume as the previous year in the depths of the crypto winter.
The highest volume trading day for NFTs in history was in 2022. This happened on May 1, 2022, before the crypto winter got really bad, but when prices had all gone down During months.