The Ultimate List of NFT Statistics for 2023
NFTs have been around for several years, with few people knowing about them.
However, 2021 was the year that saw the concept of nonfungible tokens take the blockchain industry by storm.
Nowadays, having become pretty mainstream with the rise of NFT marketplaces, NFT trading is growing exponentially.
The process of buying NFTs has also become relatively straightforward, leading to increased adoption of NFTs by regular users.
With crypto exchanges offering support for NFTs, the number of people who buy and sell these unique items is only expected to grow.
In this article, I list some of the most important statistics that you should know about NFTs, so if you’re looking to get started in this industry, this is the place to get all the details.
Let’s jump right in.
As mentioned, 2021 saw NFTs become a sensation, with developers creating NFTs left, right, and center in Decentralized Applications ( DApps ).
In just the first part of that year, over $2.5 billion exchanged hands in NFT transactions.
Image Credit: Opensea.io
2. When it comes to the market cap of NFTs worldwide, in two years (2018-2020), there was a jump from $40.96 million to $338.04 million.
The jump between 2018 and 2020 is significant, especially when NFTs are still relatively new in many public circles.
With an increase from $40.96 million to $338.04 million in a mere 24 months, there’s no doubt that NFTs are here to stay.
The number is only expected to keep rising as time goes on and conventional online platforms adapt to blockchain technology.
Nifty Gateway is one of the most popular NFT platforms on the market, so it makes sense that they would have published many tokens.
However, 2000 unique ones are quite a significant number in and of itself.
Being a custodial gateway, this platform works by allowing users to create a single, personalized wallet for many individual NFTs.
In doing so, you can purchase one token and store it in your Nifty Wallet, which contains all the information required to manage your tokens through a convenient interface.
4. The most expensive NFT was “Everydays: The First 5,000 Days”. Produced by Beeple, the artist sold it for $69.3 million.
Beeple was responsible for creating what is thus far considered the most expensive NFT globally, selling for a value of $69.3 million.
As expected, ‘The First 5,000 Days’ is a unique and rare token that’ll likely hold its value over time.
It is also one of the most famous and sought-after NFTs out there.
NFTs are no longer limited to painting and kitty cats. NFTs of all kinds can now be bought and sold on the market.
It’s perfectly conceivable that a rare song would also fetch a high price if it were to ever go up for sale, as with the Gunky’s Uprising.
This song sold for $1.33 million.
NFTs allow artists and musicians to monetize their work in a non-traditional way that appeals to people who understand the value of digital content.
6. NFT real estate is also on the rise, with the most expensive piece of virtual land going for $913,228.20.
Virtual real estate is defined as a piece of virtual land you can easily buy and sell in exchange for cryptocurrency.
While this trend is still underdeveloped, the digital real estate market is a fascinating one.
As the NFT waves keep getting bigger, buying a plot of land that exists in virtual space is in some ways similar to purchasing property in the real world – with a few key differences.
This land can’t be touched or felt, so when you purchase a plot of virtual land, it’ll be stored on the blockchain and remain there for as long as you continue being its owner.
In addition, buying such property is much more straightforward since it all takes place online, with no need for a long checklist of processes that need to take place.
7. When it comes to crypto punks, the most expensive one is valued at $11.7 million and owned by billionaire Shalom Meckenzie.
Cryptopunks was one of the original blockchain assets created by the CryptoPunks team.
This NFT can be traded just like any other kind of token, and the most expensive ‘punk’ out there is valued at $11.7 million and owned by billionaire Shalom Meckenzie.
Bought at the “Natively Digital: A Curated NFT Sale” in June 2021, this is the most expensive piece in this collection yet.
8. There’s an NFT representing the original code used to create the internet. This became the most expensive source code NFT, going for $5.4 million at an auction house.
(Wall Street Journal)
The beginning of the internet was a massive moment in the history of technology.
Like any other software program, developers used code to create this initial iteration of the net.
Eventually, this code was turned into an NFT and sold for $5.4 million at an auction to the highest bidder.
9. The original and famous first tweet sold for $2.9 million. Made by Twitter founder Jack Dorsey, this was sold in 2021.
Twitter founder Jack Dorsey decided to turn the original first tweet he made (back when Twitter was still in its infancy) into an NFT and sell it.
This tweet fetched a price of $2.9 million, which for a tweet that reads “just setting up my twttr” is quite expensive.
Pictured Above: The first-ever tweet
While this might seem like an oddity, the rare value that such a moment represented in human history fetched an impressive price.
Another stat related to CryptoPunks describes the 20 most significant NFT sales.
This list features 5 CryptoPunks, which shows that this collection deserves the attention it’s been getting over the years.
Image Credit: Explodingtopics.com
Created by Larvalabs and featuring 10,000 unique punks, this collection is one to keep track of.
11. NBA Famous Top Shot NFTs accounted for $500 million (from around $1.5 billion) NFTs traded in 2021.
The NBA has also gotten into the NFT game on a massive scale, creating its Top Shot series to provide an easy way for people to collect and trade NBA players as they compete in the real world.
With $500 million worth of NBA Top Shots NFTs traded in 2021, the series became a huge success.
The Bored Ape Yacht Club collection is now one of the most sought-after NFT collections.
While it was a collection that many could afford in its early years, it has now become quite rare and precious, driving up its price.
The average price of each ape in the collection was around $36,000.
There is quite a considerable interest in the world of NFTs right now.
With the number of NFTs sold on the rise, a survey found that 29% of adults in the U.S. said they wanted to get started in this industry.
This is quite significant considering that NFT going mainstream is still in relatively early stages.
The NFT market is becoming more and more popular in the U.S., with as many as half of the total investors being Americans.
All of this means that the greater adoption of NFTs is likely on its way, with more people driving up the demand for NFTs.
Millennials are also increasingly taking up the new trend of buying, selling, and trading NFTs.
A survey found that 23% of millennials owned NFTs.
This might be due to several reasons.
Such reasons could include:
- The ease and convenience of obtaining this type of collectible.
- People in this demographic are at the right time of their lives for this type of technology.
- Millennials want to invest some money into something that can grow exponentially in the future.
Minting refers to the act of creating an NFT.
It turns out that minting NFTs can emit a lot of C02 – as much as 211 kilograms per piece.
With such a huge carbon footprint on the environment, this might be a severe problem that needs a well-thought-out solution sooner rather than later.
As sales volume increases, the popularity of marketplaces grows.
With more expensive NFT sold in the last year, NFT trading volume increased, so the amount of marketplaces available has grown since then.
The NFT market history is still very young, but some collection types have already become more valuable than others.
With OpenSea being the biggest NFT marketplace, digital assets like CryptoPunks, the NBA Top Shots series, and the bored ape collection are among the most traded NFTs out there.
Other popular marketplaces to consider include Rarible, The Sandbox, and Superrare.
Digital collectibles (a.k.a digital artwork) are among the newest trends in the NFT market.
Similar to how trading card collection was popular many years back, a digital collection includes items bought, sold, or traded with virtual currency.
CryptoPunks are examples of NFT art that you can possess.
They’re also considered to be one of the first blockchain-based collectibles.
This collection has almost become the poster child for the entire NFT market due to its growing value over time.
NFT buyers tend to trade their items more on the Ethereum blockchain (ETH) network than any other network.
One reason for this is that this network uses energy systems as proof of work.
While these buyers might be looking forward to keeping their NFTs for a short amount of time and then selling them off at a higher price, other NFT traders are mainly interested in holding onto their items as they see them as a long-term investment.
Selling NFTs is also a pretty straightforward process, with NFT collectibles being stored in digital wallets that are safe to use and accessible by the right people.
The NFT industry allows its users to create and trade their items and assets, and several platforms support this process called minting.
An NFT can be created using a template code and stored in the blockchain under the user’s wallet address.
There are different ways an artist or collector can mint their item, and various factors go into this.
Once the minting process is complete and the owner decides to sell, the NFT will be put on sale at a price that typically reflects the hype built up around it.
With social media playing such a massive role in the NFT market, several platforms can help an artist or creators boost their sales.
In a way, marketing the NFT is as essential as the actual creation process. The more followers an artist has, the higher the NFT value.
This can make it easier for artists to sell their work at a price based on how much they believe their art is worth.
Right now, the following are some of the most valuable collections in NFT rankings:
- Blockchain-based game Axie Infinity.
- RTFKT Clone X NFT collection.
- Pepsi Mic Drop.
The above NFTs are considered some of the most valuable ones right now due to how much their value has increased over a short period, the hype surrounding them, how many of these NFTs have been made, and various other factors.
NFT interest always depends on how many NFT buyers are interested in the blockchain market and how many are looking forward to buying (and to a lesser extent, selling) these items.
Essentially, the growth rate of the NFT industry depends on whether or not there will be a growth rate in its buyer demographics.
Now that the NFT industry is becoming more and more popular, all of the above seems to be on the rise constantly.
NFT market data can reveal a lot about the industry’s dynamics and whether or not many people are buying such items.
NFT traders need to know how popular an NFT is in the crypto community, and one can gather this information from different platforms that let you buy and sell NFTs.
More users interested in NFTs will likely mean more demand for these collectibles.
This means that with enough time and hype around a specific collection, its value could also skyrocket.
The evolution of the metaverse has become one of the most exciting parts of the NFT industry, which makes it even easier for its users to buy and create collectibles.
NFTs are perfect for the metaverse because this digital art is stored in secure blockchain-based wallets.
The metaverse will merge the cryptocurrency industry with the entertainment and gaming industries, which will result in increased demand for these digital assets.
This means that if you hold onto an NFT now, there’s a chance that it might increase in value due to more people wanting to buy it.
The metaverse is still in its early stages of development, but once this market opens up to the public, NFTs are likely to become even more popular than they already are, especially with the introduction and adaptation of metaverse coins.
For those that are still on the fence about NFTs, I’d say you have every right to be.
At the same time, understanding the value that something poses, irrespective of any personal feelings about it, is an excellent skill to have.
Let’s consider that an NFT meme is also an item for which people are paying thousands of dollars.
The Bad Luck Brian meme sold as an NFT for a whopping $36 000 in 2021, which might make you question whether or not memes are an excellent NFT investment.
Pictured Above: Bad Luck Brian meme
In addition, the doge meme is probably the most expensive NFT meme ever sold, getting a valuation of $4 million in 2021.
The doge cryptocurrency was also launched as many invested in this meme and increased its market value.
Pictured Above: Doge meme
As with other types of NFT collectibles, it all depends on how rare a meme is and what its value might become.
When considering these selling prices, you might become interested in buying into the latest hype, but at the same time, it’s worth remembering that NFTs can also decrease in value if people stop buying them.
The general NFT statistics above can be used by both people interested in the NFT industry and collectors looking for the best ways to trade their NFTs.
As this market is still very young, it’s hard to say what it has in store for us.
However, one thing’s certain: with all the hype around NFTs, this market looks as if it’s going to be a big one over the next few years.
If you have the capital available to invest in NFTs, this might be the right time to do so.
As always, I encourage you to do your research and possibly use this article as a starting point for your journey into the NFT market.
Have you bought into the NFT trend? What do you make of these huge numbers when it comes to buying and selling?
Let me know your thoughts in the comments below.
Further reading on AdamEnfroy.com: Want to get started with buying NFT tokens? Here’s a look at the best NFT tokens to buy and hold right now.
In addition, these are the most secure and accessible NFT wallets to go with.