Over $1B reinvested into ecosystem from NFT mints in 2022 in response to Nansen report

by Cryptospacey

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

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

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

Nansen reviewed collections with gross sales quantity above 20 ETH inside 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 initiatives (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 initiatives launched on the Ethereum blockchain
  • 140 NFT collections raised over 1,000 ETH
  • The common ETH raised per mission was 59.4 ETH
  • The highest 5 NFT collections raised 10% of whole ETH throughout NFT initiatives (81,354 ETH)
nansen nft report
Supply: Nansen

Among the many NFT collections analyzed, the bulk provided free mints exhibiting a rising pattern totally free mint initiatives 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 main gross sales income into NFT demonstrates that builders… making selections that can assist that development.”

Supporting this thesis, of all of the funds raised from initiatives coated within the report, solely 0.3% of funds have been despatched to exchanges. Nonetheless, 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 Girl Galaxy, and Genesis Field disclosing tagged wallets which have interacted with the highest NFT collections.

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

Supply hyperlink

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