A year has passed since I started writing this newsletter! Here are 5 of the most surprising stats I've discovered since I began documenting the NFT market 👇
1/ There are 6.8M NFT collections on OpenSea (Ethereum + Polygon). Only 15k have ever had a sale (0.2%). People love to talk about how 99% of NFTs will go to 0, but 99.8% of NFTs already have no market value😅
2/ The NFT collections owned by Yuga Labs (Punks, BAYC, Meebits, MAYC, BAKC) generate 26% of Ethereum NFT market monthly volume.
3/ 35% of the top 100 NFT collections by trading volume (Ethereum) use centralized servers to store their metadata.
Millions of dollars of NFT market cap could be rendered worthless at any time if the creators of one of these collections stop maintaining the metadata server that the smart contract points to or forget to renew a domain name.
4/ 1.5M wallets have bought and sold NFTs on Ethereum, generating $53.7B in trading volume. $35B of that volume took place in 2022 and we’re barely three months in.
5/ $3.75B of NFT trading volume took place on Axie Infinity in 2021. That's a wild stat for a game with 2.7M MAU. For context, Fortnite revenue was $5.1B in 2020 with 80M MAU.
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