In 2022 NFT Transactions to Marketplaces Reached $37 Bln

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NFT transactions news

The amount of NFTs sent to marketplaces hit $37 bln as of May 1, 2022. The indicator is close to surpassing the overall NFT transaction volumes equal to $40 bln of 2021.

Related: Coinbase Announces Testing of Its Own NFT Platform

According to a report by the blockchain data platform Chainanalysis, despite some ups and downs in volumes, the number of active NFT buyers and sellers keeps rising each quarter starting from Q2, 2020. From 2021, transaction volume of NFTs also has grown essentially.

In the first quarter of this year, the number of unique addresses that purchased or sold an NFT hit 950,000 compared to 627,000 in the Q4 2021.

As of May 1, 2022, about 491,000 addresses have interacted with NFTs. Based on the analysis of top marketplaces, users are interested in the assets worldwide.

There is no dominant region as no more than 40% of all web traffic came from a certain location. NFT transactions are mainly retail size, lower than $10,000 worth of crypto. Transactions between $10,000 and $100,000 increased between January and September of the last year but the growth stopped there.

As for transactions by institutional investors, there is no constant trend. Institutional transactions could make up the majority of activities in certain periods of times when extremely large deals happened.