According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting nonfungible tokens (NFTs) on the Ethereum blockchain in the first half of 2022. An overwhelming majority of minting took place on OpenSea.io.
Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison, about $107 million worth of NFTs were minted on BNB Chain and $77 million for Avalanche. A total of 263,800 unique wallet addresses were involved in NFT minting on the two blockchains.
1/ Market participants spent 963,227 $ETH (approximately $2.7b) on minting NFTs in the first half of 2022.
So what did the NFT projects do with the money they raised?
Read our latest research here: https://t.co/ifgKdTnF9S
— Nansen (@nansen_ai) August 2, 2022
Sixty-nine NFT collections launched on May 22 alone, resulting in daily minting volume surpassing 120,000 ETH. The total number of NFT collections...
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