NFTs or Non-Fungible Tokens have been around for over a decade now. The popularity of blockchain technology and digital currencies or cryptocurrencies paved the way for NFTs or Non-Fungible Tokens to rise, and it took the internet by storm last March of 2021.
It also facilitated the massive financial success of many artists, enthusiasts, and gamers. Today, with the competition in producing NFTs keeps on getting tighter, we present to you some statistical figures and facts that you need to know before dealing with any NFTs.
1. Average Sale Price
The trading capacity for NFTs reached almost $12 billion during the fourth quarter of last year. The trading volume increased tenfold with 2.7 million active and unique NFT wallets. Last year’s price for NFTs ranged around $140 to $ 4000 as attention towards the token snowballed.
The closing sales amounted to $41 billion last year. But for this year, the price has plunged by about 50%. In spite of the volatile movement in NFT Sales, it still persisted, with over 2.4 million NFTs sold, amounting to a total of $4.8 Billion in revenue last January.
2. Tracking the buyers
As per nonfungible.com’s logs, there were 30 000 and 25 000 new buyers for the peak months of April and May last year. It was actually a decline if you compare it to March’s 39 000 counts, but it is still a good figure compared to the number last 2020 when there were only 10 000 buyers.
3. More Men collect NFTs than Women
A recent survey shows that men are three times more likely to collect NFTs than women.
4.NFTs have the same carbon footprint as a month’s electrical usage in an EU household.
It is actually a concerning environmental impact that NFT produces. Since blockchain technology uses electrical energy, the average NFT transaction emits about 48 kilograms of Carbon Dioxide. Its carbon footprint is at least ten times higher than what an Etherium blockchain makes.
5. 70% of Adult Americans are not familiar with NFTs
It is not just in America that NFTs are not a popular topic in a typical adult conversation. The statistics also show that at least over 80% of the adult population in Germany is not knowledgeable in NFT, 90% in Japan, and just over half of the adult population in Hongkong is in the same situation.
6.OpenSea sits at the top of the World’s largest NFT Market
Recent estimates show that at least 250 000 people actively trade NFTs in a month on the OpenSea platform.
7. Most expensive NFT Virtual Land
A player of Axie Infinity managed to sell some land from the game for a whopping price of $1.5 million. Having only 220 pieces of in-game land, the cost of the limited number of virtual land is high.
8. World’s first-ever minted NFT
The “Quantum” creation of Kevin McCoy sold for $1.47 million at the Sotheby Auction House back in May 2014. It revolutionized and inspired the creation of modern NFT art.
The privilege of owning a unique art, even if it is virtual, is just one of the reasons why NFTs are so popular. Bidding wars over these unique pieces keep on getting intense as time passes. On the bright side, NFTs are saving a lot of artists’ dreams of getting royalties for their ideas.