NFT Sales To Top 101 Million In 2022: DappRadar Report

During the past year, Passive Tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs started a shift from hype-based drops, i Utility-based projects With long-term value.

A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that NFT sales reached 101 million last year. This is 67.57% higher than last year.

According to the report, the Ethereum ecosystem dominates the NFT ecosystem, having a 21% market share and processing more than 21.2 million transactions. It is followed by Vex (14.5 million), Polygon (13.3 million) and Solana (12.9 million).

Both Solana and the unsolicited X ecosystem saw massive growth from last year in terms of transaction activity, with increases of 440% and 315% respectively.

Meanwhile, the data shows no change in the BNB ecosystem, with around 1 million transactions for both 2021 and 2022.

The dominant category of DApps on different chains has also changed over the past year. In 2021, decentralized finance (DeFi) apps dominated all but 2 of the 13 applications used in the report.

However, this year, a major shift towards high-risk, gaming and NFT DApps leveled the playing field.

Related: Opinion: NFTs have a bright future on Instagram compared to Twitter.

Additionally, the report highlights Ethereum and Cardano as the blockchains with the most active developers, with 223 and 151 active protocols, respectively.

While modular blockchains, such as Polkadot and Cosmos, saw their network developer activity increase by 16% and 131.7%.

The prominence of NFTs in the Web3 space has also translated into mainstream culture in the past year. Continued from Adoption by legacy institutions Like the NBA to make Amazon Documentary series about NFTs And the people who collect them.

At the end of last year, China announces its first national NFT marketplace. Acting as a secondary market for the exchange of digital assets.