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Over $1B reinvested into ecosystem from NFT mints in 2022 in line with Nansen report

Nansen, one of many business’s main blockchain information and analytics platforms, launched a report Tuesday detailing the circulation of Ethereum raised by NFT mints in 2022.

The “NFT Gross sales: The place did the ETH go?” report builds on Nansen’s 2021 examine, which revealed that almost all funds raised by NFT mints “had been moved into non-entity wallets.”

“NFT creators are actually retaining funds and reinvesting them again into the ecosystem, pointing to a shift in the direction of turning into extra mature and conscientious builders.”

Nansen reviewed collections with gross sales quantity above 20 ETH throughout the first six months of 2022. In its evaluation, the information signifies a “maturing NFT market.”

Report Highlights

  •  963,227 ETH was raised from Ethereum NFT minting.
  • 488,356 ETH retained by NFT tasks (50.7%),
  • 440,194 ETH raised distributed to “non-entity wallets” (45.7%)
  • ETH despatched to “non-entity wallets” declined by 6.6%
  • 28,986 NFT tasks launched on the Ethereum blockchain
  • 140 NFT collections raised over 1,000 ETH
  • The typical ETH raised per challenge was 59.4 ETH
  • The highest 5 NFT collections raised 10% of complete ETH throughout NFT tasks (81,354 ETH)
nansen nft report
Supply: Nansen

Among the many NFT collections analyzed, the bulk supplied free mints exhibiting a rising development totally free mint tasks in 2022. Solely 343 collections launched with mints costing over 500 ETH.

mint types
Supply: Nansen

Louisa Choe, a Analysis Analyst at Nansen, commented,

“the minting sector of the NFT market stays wholesome with the rise in common mints per distinctive pockets deal with… on-chain proof of NFT collections reinvesting major gross sales income into NFT demonstrates that builders… making choices that may help that development.”

Supporting this thesis, of all of the funds raised from tasks coated within the report, solely 0.3% of funds had been despatched to exchanges. Nevertheless, one limitation was recognized within the report, provided that the analysis doesn’t cowl onward transactions from the receiving wallets.

The report particulars Moonbird, Pixelmon, VeeFriends, World of Lady Galaxy, and Genesis Field disclosing tagged wallets which have interacted with the highest NFT collections.

The total report may be discovered on Nansen’s web site.



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