The NFT market may seem complicated for outsiders. Using blockchain technology for non-fungible tokens (NFTs) may sound like a strange concept, but they have increased interest over the last year.
This has led to some very interesting statistics and trends about NFTs that you can find out more about here.
In early 2021 there was a sharp rise in weekly sales of these digital assets online, as well as several records being broken, with many people looking at them intently, wondering what their worth might be down the line.
Non-Fungible Tokens (NFTs) are digital collectibles that hold unique data, live on the blockchain, and cannot be copied or reproduced.
This means that each NFT is uniquely identifiable and can only exist once in the world.
Collecting NFTs has never been easier with CryptoKitties, Etherbots, Etheremon GO, Gods Unchained to name a few.
In this article, we will explore the statistics of non-fungible tokens so you know what’s coming up in 2021.
We have compiled a list of 20 NFT statistics to help you better understand this trendy Non-fungible token.
NFT Statistics Quick Summary
- NFTs are a new way of proving ownership over digital goods. They’ve been around for less than ten years.
- They have only recently begun to morph into their market with the emergence of alternatives like Enjin Coin, which is designed specifically for gaming communities.
- For example, one NFT that sold last year was valued at $69 million – making it the most expensive virtual item ever traded on any platform in history.
- Thousands more sales worth millions each day trade across this burgeoning marketplace every single day; there’s plenty about these tokens beyond just how they work (you can read all about them here), so stay tuned!
NFT Statistics: What Are NTFs? And How Do They Work?
NFTs are a new way to approach the economy and more about what you own.
Unlike fungible items, NFTs have no identical equivalent that can be exchanged with each other — so while two books may look similar in appearance but one is written by some famous historical figure or important artist, they’re not interchangeable.
It’s not difficult to get a perfect copy of digital art, but the original is worth more. You can tell if something isn’t original by looking at it closely and knowing its creator’s style.
Once you put your work on blockchain, however, there are no other pieces out there that truly match up with yours–it becomes unique in both form and content because nothing else matches up so perfectly as what came before it.
Due to its uniqueness, people usually purchase NFTs just like you would purchase an original artwork from an artist.
How Do NFTs Work?
The blockchain serves to authenticate and track owners so that no one can counterfeit it.
However, as all content is not saved on the blockchain network itself, owners rely on their server not shutting down or changing anything to maintain ownership and possession over their digital collectibles.
A Brief History About NFTs
Bitcoin has been around for a while now, and people are starting to test its limits.
One of these tests is by attaching real-world assets like stocks, houses, or even apples, eggs, or oranges (yes, those exist) as fractions of bitcoins with the goal that they would be able to if someone traded them transfer physical goods along with it.
However, one big problem arises when they’re only one person doesn’t agree on how many units should be transferred over because then no trades can take place anymore, thus making this method unsuccessful.
In 2014, three blockchain developers made Counterparty to trade colored coins. This platform allowed for the trading of colored coins that were not limited by a blockchain like bitcoin.
The time it took to execute trades was quicker because transactions did not need verification from miners before being processed on this network.
In 2015 Ethereum had its initial release shortly after, which laid some foundations with a built-in way to trade unique assets called NFTs (non-fungible tokens).
From 2017 onwards, this ERC 721 standard started picking up in popularity, creating collectibles such as CryptoPunks and standards like them.
In late 2017, sales of NFTs boomed to the point that they could be found on average in 15,000-50,000 places per week.
Sales then saw a second spike two years later at 30,000-80K locations and have finally returned down to their normal range between 15k – 50k spots per week.
Can Someone Hack NFTs?
Cryptocurrencies might be the most secure form of currency in existence, but that doesn’t mean there’s no way to commit fraud.
Lately, it’s become common for a criminal who has stolen your login information to use this access and trade away NFTs you own at their leisure before anyone even knows they’re missing.
Luckily, people can decrease an account’s chances of being hacked by keeping passwords strong or adding two-factor authentication supported on a given platform.
Recently, a hacker found their way into Beeple’s account and used “sleepminting” to sell his piece for $69 million.
This exploit lets you sell an NFT under someone else’s name when they’re asleep, so it isn’t easy to know if the seller or artist ID has been hacked.
Ensure that all of your information matches what you are buying before handing over any money.
20 Statistics About NFTs Including Facts, Trends & FAQs
In this article, I will tell you everything about non-fungible tokens. You’ll learn what they are and the history behind them.
Plus, we’re going to look at some statistics on NFTs with more general facts followed by other cool nuggets of information like which ones have been sold for the most money or if any first-ever created was an actual anything.
General NFT Facts and Statistics
How Many Buyers Are There?
There are currently a significant number of people buying Non-Fungible tokens.
For example, in April and May alone, more than 30 thousand unique wallets bought NFTs from popular marketplaces such as nonfungible.com on any given day this month!
This is down slightly from the 39,000 buyers throughout March but still up significantly compared to less than 10 thousand in 2020 for most months with only 1 or 2 thousand individual sellers each time.
How Much Does an NFT Sell for on Average?
It’s hard to put a number on the average price of non-fungible tokens.
Most marketplaces have averages based on one large sale and can be misleading – you may think you know how much it costs, but this is just because they sold something worth $10K+.
It’s best to look at what’s been selling in recent months instead; that way, we’ll better understand what people are willing to pay without being influenced by huge outliers.
On OpenSea from March 14 through 24, there were over 1/3rd sales under 100$, 53% more than 200$.
For most, prices don’t go past 300$. Know what you’re getting into before buying an expensive piece of digital art; production costs range from $70-$150.
What Is the Energy Usage of NFTs?
Have you ever thought about the power consumption of your favorite crypto?
Digiconomist.net project that one ethereum transaction expends about 120kWh of energy, which is just over four days’ worth for an average U.S household!
With so many NFT sales relying on the Ethereum blockchain and there being thousands each day, it’s easy to see how much electricity cryptocurrency can use in one year – more than $6 billion annually, according to Greenpeace International Research Director Gary Cook.
Although some companies like Decentraland are looking into alternative methods such as Proof-of-Stake (PoS), this isn’t enough yet because PoW still dominates at 50%+.
The Ethereum Foundation is working on a proof-of-stake model to reduce the energy per transaction. The project has been in progress for years.
It could make transactions as little as 35Wh during its completion, equivalent to that of a small U.S town rather than some medium-sized countries which use more power annually when making their cryptocurrency coins via an older Proof Of Work system.
What Is the Largest NFT Marketplace?
NFT markets have been on the rise, with their total volume trading over $600 million in NBA Top Shot.
However, recent trade values between OpenSea and Atomic Market are close to each other at just under $90 million every 30 days compared to ABC’s value of around a quarter billion dollars monthly.
The number for all-time traders is also neck-and-neck when looking at 440 thousand versus 400 thousand respectively; however, there has recently been an increase in 150k new trades within the last month from both platforms, making them more competitive than ever before.
What NFT Sale Is the Most Expensive?
What’s the most expensive NFT ever sold? Selling for $69.3 million, “Everydays: The First 5000 Days” by Beeple is now considered to be the priciest non-fungible token in history!
After posting a new work of art every day from May 2007 until February 2021 and compiling them into one picture, it was auctioned off at Christie’s on March 11, 2019, with Vignesh Sundaresan eventually winning this piece for 42,329 ether– almost ten times as much money that any single NFT.
What’s NFT VIdeo Sale Is The Most Expensive?
In Feb. 2021, Beeple’s “Crossroad” was auctioned off for a whopping 6.6 million dollars – making it not only one of the priciest pieces in existence but also as an NFT.
This short 10-second animation shows people walking past Trump lying on his back with logos and slogans scribbled all over him while he yells at them to get out.
What NFT Song Is The Most Expensive?
In late March 2021, a song was sold for $1.33 million to the person who would name it Gunky’s Uprising – what is currently considered the most expensive NFT ever created and bought on any decentralized marketplace or auction center since its inception in early 2020.
The buyer, SlimeSunday of 3LAU fame, made this purchase to show off their wealth and give others an opportunity that they never had.
What NFT Top Shot Is Deemed As The Most Expensive Ever Sold?
Who knew that a digital card could cost so much? One of the most expensive NBA top shots sold was number 29 in Cosmic Series 1 on February 22, 2021.
The $208,000 price tag made it one of the rarest cards to date, which only hit over $100,000 before this latest purchase.
Which NFT Tweet Is The Most Expensive?
What is the most expensive tweet in history? In March of 2021, Twitter CEO Jack Dorsey sold his first-ever Tweet for $2.9 million!
This 15-year-old tweet said, “just setting up my twttr,” and was bought by a private collector as an NFT (Non-Fungible Token).
So while random tweets from regular people probably won’t make any money, this could be just what some celebrities need to sell their viral Tweets or other content that might have been very popular with fans who want to own them too.
Which NFT Virtual Land Is The All-time Most Expensive Sold?
The world record price for an NFT virtual land sale is Axie Infinity’s nine adjacent genesis blocks.
This price equals $1.5 million, which, considering there are only 220 pieces of this land in total, will probably rise even higher as more players join the game over time.
When Was the First NFT Minted?
In May of 2014, Kevin McCoy created what many consider to be a groundbreaking piece.
The art he made began with him using “quantum” to demonstrate how people could sell digital artwork online and led to it being one of the earliest examples in history when someone had sold something intangible – like software or music- on blockchain technology.
What Was the First Million Dollar Worth of NFT?
A piece of art called the “Forever Rose” is worth a million dollars.
Of course, this was before NFTs experience an increase in popularity, but when they did, this one-of-a-kind rose came with them to be sold for $1 million on February 14, 2018.
The sale that day split up ten buyers who each paid 100k for 1/10ths of an eternity rose and took home half ownership rights over it all.
When Was the First Day With Over 1,000 NFT Sales?
The first day with over 1,000 NFT sales was on November 24, 2017.
However, the number would only grow from there as non-fungible’s website tracked 3,093 NFTs that day, and 16 days later, the site saw its highest recorded total for one single date at 52,020 transactions.
NFT Market History
How Much is Spent on NFTs Each Week?
The number of NFTs sold on the blockchain seems to be settling at around $10-20 million a week, and we’ve spent over $1 million in just one seven-day period.
This is quite impressive for such an early stage.
What Was the Total Value of NFT Sales In 2020?
The total value of all NFT sales in 2020 was $250 million, a whopping four times the size it had been just last year.
Compared to 2019, where there were only 62.9 million transactions traded on average per day, this shows that people are starting to see crypto as an opportunity not worth passing up!
Trading volume also reached an impressively high at almost half a billion dollars, with the market cap reaching over three hundred and thirty-eight million by December 31, 2020.
What Were NFT Sales Figures at the Start of 2021?
Nonfungible.com saw an enormous increase in sales for the first quarter of 2021, as they surpassed $2 billion total — a 131% increase from 2020’s figures.
And with more buyers attracted to purchase these non-traditional collectibles, it seems that their value is only going up, and there will be no stopping this new wave of collecting frenzy.
What NFT Market Segments Are the Fastest Growing?
It turns out that the collectibles market is proving to be a vital aspect of growth in NFTs.
One such example is CryptoPunks, small pixel-art images generated algorithmically and sold through nonfungible.com for Ethereum’s Ether cryptocurrency.
Other examples include other crypto trading card games like NBA Top Shots which have seen similar rapid rates of return thanks to their inclusion on sites like eBay or Amazon, where people purchase cards by pack – not individual items.
Number of Sales Over Time
After a spike in December 2017, weekly NFT sales only went up to around 15,000.
But after the success of November 2019-April, 2020, weeks generally ranged between 30,000 and 80 000 with few exceptions for going as low as 10 thousand or below.
Value of Sales Over Time
NFT sales have been steadily increasing over the past year, doubling in value since September 2020.
A few months later, this increase started to plateau and decrease but has stayed above $10 million every week so far.
Increase in Active Wallets Over Time
At the 2017 peak, there were over 34,000 active wallets in a week.
This quickly dropped and settled into an average of 2-4 thousand each week, which slowly increased to 4k – 8k by late 2020.
By February 2021, there was an upsurge with weekly active wallets going above 10k for the first time since 2017.
This number doubled by March 2021 but has since stayed at the range of 8,000 and 12,000. Hovering around this range means weekly wallets will triple in four years.
What NFT Is the Most Popular?
To this day, the most popular Non-fungible Token (NFT) is Beeple’s “Everydays: The First 5000 Days,” which sold for $69 million.
How Many NFT Buyers Are There?
NFTs are becoming increasingly popular as more people realize the value of digital collectibles.
One company that specializes in non-fungible goods, NonFungible.com, has reported on a survey they conducted from March 1 to May 31, 2021, for NFT buyers between 20 and 40 thousand unique buyers within any 30 days.
What Is the Value of an NFT?
What is the Value of an NFT? Next, you may find yourself needing to decide how much your design or artwork is worth.
In general, most designs and artworks are valued at less than $200 per token – you might even make a loss if costs for minting it out exceed that amount.
How Big Is the NFT Industry?
The NFT industry is expected to be worth $2 billion by 2021, but it doesn’t stop there.
For example, the NBA Top Shots alone are valued at almost half a billion dollars, and those numbers don’t include the over one thousand digital games on nonfungible.com that have been downloaded so far.
Staggering figures like these make you wonder if we’re in for another dot-com bubble burst.
NFT Statistics Conclusion
Buying artwork is becoming easier for a wider set of people.
There are lots of bids and odd sales going on which you can get an edge on if you read our statistics on NFTs (non-fungible tokens) and blockchain.
However, don’t worry if you want even more statistics about VPNs or remote work trends; we have it all here.
Non-fungible tokens (NFTs) are the future of digital asset ownership.
As they become more popular, what will be your strategy to compete?
NFT statistics and facts provide a glimpse into how big this trend is becoming for marketers in 2021.
This post outlines all you need to know about non-fungible token trends so that you can get ahead of them by incorporating them into your marketing plan today!
Have any insights or questions on these statistics?
Or do you want to learn more about NFTs?
Leave us a comment below!