Despite the fact that the larger crypto market has been on a months-long downturn since November 2021, the excitement for NFTs activities has remained strong. The number of NFT collections on the Ethereum network has surged by over 100 percent in 2022, according to statistics collected by IntoTheBlock, a blockchain intelligence startup focused to on-chain analysis
. In comparison to a year ago, when there were only roughly 15.5K collections available, there are currently over 80K NFTs on the network. Some NFT makers with a good reputation include SOLISlabs, Trevor Jones, Hackatao just to name a few. Meanwhile, the overall volume traded by NFTs has surged dramatically over the last year, rising roughly 90 times from $622 million per day a year ago to about $54.58 billion per day today.
Since September 2020, there has been a noticeable increase in the number of Ethereum addresses with at least one NFT. In addition, only 1.4 percent of wallets had one or more NFTs a year ago, but that number has since risen to 4.64 percent