• NFT sales topped 101 million in 2022, according to a recent report from DappRadar.
• Ethereum held the top spot in the NFT ecosystem, with 21% of the market share and over 21.2 million transactions processed.
• Other leading NFT ecosystems included Wax, Polygon, Solana, and ImmutableX.
The nonfungible token (NFT) industry saw remarkable growth in 2022, according to a recent report from DappRadar. NFTs continued to revolutionize the Web3 space, shifting away from hype-based drops and towards projects with long-term value.
The report revealed that the total NFT sale count for the last year reached 101 million, an impressive 67.57% increase from the previous year. Ethereum held the top spot in the NFT ecosystem, with 21% of the market share and over 21.2 million transactions processed. Wax, Polygon, Solana, and ImmutableX were the other leading NFT ecosystems.
The data showed that the Ethereum ecosystem was the most popular, with 21% of the market share, followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million). Meanwhile, the BNB ecosystem was relatively stagnant, with roughly 1 million transactions for both 2021 and 2022.
The report also revealed that both the Solana and ImmutableX ecosystems experienced massive growth from the previous year in terms of transaction activity, with a 440% and 315% increase, respectively. This growth is indicative of the increasing demand for NFTs, and the potential of these projects to become some of the most influential in the near future.
NFTs have continued to make waves in the Web3 industry since their inception, and the DappRadar report is just the latest piece of evidence that demonstrates their potential. As the space continues to develop, we may see the market share of these projects increase even further in the years to come.