Posts tagged "NFT Market in 2022"

An Overview of the NFT Market in 2022

Based on current trends, the NFT market will be worth $4.36 billion (USD) by 2021. NFT enthusiasts and investors increasingly need to stay on top of market trends due to the rapid growth of NFT. During the period from 2028 to 2032, the value of the National Futures Trading (NFT) market is expected to reach $19.57 billion. We cover several crucial data points in this article, ranging from demographics to web traffic statistics.

  • NFT marketing is best done through Twitter

Approximately 75% of social media traffic for NFTs comes from Twitter. Compared to YouTube, YouTube comes in second at less than 25%. NFTs are gaining traction on Twitter because it is the first platform to embrace them officially and comprehensively. Twitter enabled integrations that enable users to set NFTs as their profile pictures in early 2022.

  • With 140 million visits per month, OpenSea is the most popular website

NFT marketplaces number over 240, but only a few generate remarkably high web traffic. The leader in unique monthly visits is OpenSea, which garners 140 million visitors. MagicEden gets 46 million visitors.

  • NFT marketplaces are dominated by young men

The number of men on NFT marketplaces is much higher than the number of women. A majority of NFT users are between the ages of 25 and 34, followed by those aged 18 and under. As the crypto and blockchain industries grow, these demographics certainly make sense. In the crypto ecosystem, efforts are made to empower women.

  • NFT Marketplaces benefit from mobile accessibility

Mobile devices are a major focus for many NFT marketplaces. A marketplace that optimizes and enables smartphone use sees a much higher daily web traffic rate than one that doesn’t. Mobile wallets are more vulnerable to cybercrime than hardware wallets, which are physically stored.

  • It is the U.S. that is the most prominent market for NFTs

NFTs account for 19.6% of all global web traffic, making the U.S. the world leader in this category. According to Pew Research, NFTs are particularly popular with middle-class people. There is a large group of women aged 18 to 29 who have purchased an NFT, but only 7% have done so.

  • Internet traffic is dominated by NFTs instead of Defi

Financial instruments that do not involve centralized intermediaries like exchanges or banks are defined as Defi. NFTs are technologies that tokenize physical as well as digital assets. As Defi struggles to gain mainstream popularity, NFT has pulled ahead significantly.

Last words

There is a lot of room for growth in the NFT industry since it is still in its early stages. The possibilities are endless for NFTs, from tokenizing artwork for collectors to leveraging utility NFTs to create exclusive passes and memberships as NFTs’ interest continues to grow. NFTs offer something distinct to the lending and trading marketplace (staking, earning, speculating, etc.) that exceeds traditional lending and trading activities.