Non-Fungible Tokens (NFT) Statistics & Trends

An NFT or “non-fungible token” comprises data stored or accounted for in a digital ledger and represents something specific. NFT’s are exploding in popularity and getting mainstream attention and adoption, so here are the NFT statistics for 2024 to keep you informed

Whether you want to get into NFTs as an investor or an artist looking to mint their own NFTs, here are a few highlights comprising the most critical NFT related statistics covered in this article for you to work through:

• The most expensive NFT “The Merge” sold for $91.8 million dollars
• NFTs volume of sales jumped to $2.5 billion in 2021’s first half
• One minted NFT emits up to 211 kg of CO2
• As of July 2021, the average Bored Ape NFT sold for $36,000
• CryptoPunks is the world’s first non-fungible digital art

But first… What the NFT is a non-fungible token?

“Non-fungible” means that something is unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. On the other hand, a piece of digital art or a one-of-a-kind trading card is non-fungible. If you trade it for a different card, you’d have something completely different.

www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

The digital ledger, which functions the same as the technology behind cryptocurrencies, is referred to as Blockchain. Pieces of art, music, or digital files, including videos, photos, or in-game items, are all examples of different kinds of digital entities that can be turned into NFTs and put up for auction. 

Despite the recent explosion of NFTs, the phenomenon remains a sub-reality without meaning for most people who are still unsure of it.

21 Non-Fungible Tokens (NFT) Statistics & Trends

Our roundup of the 21 key online NFT statistics can help you develop a better understanding of the latest crypto craze and what the future holds for it:

According to coincodex.com, on January 6, 2023, the NFT Tokens market cap is currently at $ 7.58 billion dollars. This is down from 2022 when it peaked at $11.3 billion.

Digital artist Pak’s newest creation, The Merge, sold for US$91.8 million on Nifty Gateway, in December 2021.

#1	The Merge	$91.8 million
#2	Beeple’s Everydays: The First 5000 Days	$69.3 million
#3	Clock	$52.8 million
#4	HUMAN ONE	$29 million
#5	CryptoPunk #5822	$23.7 million

In a record-breaking sale for Beeple, the legendary artists’ compilation of works sold for a whopping $69.3 million, cementing his position as one of the best-selling digital artists in the world. 

Singapore-based crypto billionaire and serial entrepreneur Vignesh Sundaresan bought it at auction at Christie’s on March 11, 2021, for 42,329 ETH ($69,346,250 at the time).

The NFT market surged to reach new highs in the second quarter of 2021, with transactions valued at $2.5 billion this year.

Marketplace data showed a massive jump from a mere $13.7 million recorded in the first half of 2020.

An anonymous buyer bought a song put up for auction by SlimeSunday and 3LAU to name the song as per his own wishes.

A popular meme depicting a dog from the Shiba Inu breed, which had quickly achieved iconic stats, became the most expensive NFT meme to date.

The auction winner, @pleasrdao, who bought the Doge meme, paid via Ethereum.

Sales occur regularly in the blockchain-based game Decentraland. Still, the nearly $1 million purchase of a single plot of virtual land by the real estate investment firm Republic Realm in 2021 fueled the demand for virtual or digital properties.

For clarity, the sales amount is enough to buy multiple properties in the real world.

A CryptoPunk that shows an alien punk wearing gold earrings, sporting a red knitted cap, and a medical face mask became the highest priced CryptoPunk ever after being sold for a whopping $11.7 million via the Sotheby auction house.

The world wide web creator – Sir Tim Berner-Lee, auctioned off a piece of his 30-year-old original source code in a controversial sale, making it the most expensive NFT source code.

Critics against the decision to sell the code; argued that it went against the decentralized nature of the web.

The “Forever Rose” artwork was sold for $1 million on Valentine’s Day in 2018, making it the world’s most expensive piece of NFT art at that time.

The digital photo, which depicts a red rose, was bought by ten collectors who divided the cost evenly in cryptocurrency.

Non-Fungible Tokens (NFTs) are undergoing a huge boom following the widespread acceptance of cryptocurrencies. A spike in the number of crypto-millionaires looking to spend their crypto coins is another key driver.

In a sale that contributed to the mainstreaming of NFTs, Twitter’s founder sold the first-ever Tweet sent by him to a Malaysia-based investor. More and more celebrities have done so since they jumped on the NFT bandwagon and sold off their digital assets.

The 10-second animation, which was sold in February 2021, shows a giant, Donald Trump, lying on the ground.

Non-fungible trading has grown by leaps and bounds and has an overall traded volume of $431 million, according to the latest research.

NBA Top Shots — a marketplace that enables trading of historical NBA moments — has rapidly developed into the largest NFT marketplace by total volume traded.

In a period termed as “post-boom” by the NFT analysis company- Non-fungible, more than 45,000 new crypto-wallets engaged in NFT trading for the first time ever between May and June.

The Canadian music sensation, popular as Grimes, became the latest artist to cash in on the NFT gold rush by selling around 10 digital artworks. The collection’s highest-selling piece was a one-of-a-kind video called “Death of the Old.”

The trend demonstrates the NFT’s unprecedented rise, their rapid acceptance globally, and how more money is being pumped into them at an exponential rate year by year.

Ethereum being the basis for all the non-fungible tokens makes the trading volumes rise to newly established levels. A non-fungible token is a cryptographic token that can be both unique and unrepeatable. One that cannot be divided but can be used to represent objects in the real world.

The Bored Ape Yacht Club – a collection of 10,000 unique digital collectibles on the Ethereum blockchain has undergone a 1,574 % increase from the launch price of $215 in April.

CryptoPunks first launched in June 2017 and were developed by a two-person team, eventually becoming the world’s first-ever non-fungible digital art. CrryptoPunks is also one of the original NFT projects.

While it has resulted in many overnight millionaires, crypto-art is harmful to the environment owing to the computational processes involved in its creation.

Non-Fungible Tokens (NFT) Statistics: Summary

NFTs have quickly become all the rage owing to the continued revolution of blockchain technology. But, as with cryptocurrency, most financial pundits and art experts are skeptical. The whole thing could turn out to be a bubble in the long run if people give up the idea of buying something which isn’t there.