Crypto users spent $2.7 bn minting NFTs in the first half of 2022: Report
New research by Nansen shows Moonbirds and VeeFriends Series 2 among the highest grossing NFT collections in the first half of 2022
By Shashank Bhardwaj
New data published by the renowned crypto data firm Nansen shows that about a million different wallets have used the Ethereum blockchain for the minting of NFTs in the first half of 2022. The stats further show that around 963,227 ETH were used to mint a large collection of NFTs on the open platforms. The largest NFT minting platform turned out to be Opensea.io. Besides that, the BNB blockchain and Avalanche saw NFTs minted on them worth around $107 million and $77 million on Avalanche, respectively.
Nansen said in a tweet, “1/ Market participants spent 963,227 $ETH (approximately $2.7b) on minting NFTs in the first half of 2022. So what did the NFT projects do with the money they raised?”
According to the report, BNB and Avalanche together contributed to over 263k unique wallets on the platform. The cumulative pricing of the whole collection of NFT assets crossed well over $2.7 billion, which is a huge number as compared to previous encounters.
Ethereum chain saw more than 28k NFT collections minted on it in the year’s first half. Just over half of the NFT collections on the ETH chain clocked less than or equal to 5 ETH. At the same time, around 140 NFT collections raised more than 1000 ETH.