NFTs are alive again and..depending on who you ask, that’s great.
But how are the NFT markets behaving in a post-2022-craze environment?
We’ve compiled a list of the most interesting NFT statistics we could find to help you understand the strength of the 2024 NFT market
NFT Buyer Stats
- The populations most engaged in NFT trading are Indians, Singaporeans, Irish, Chinese, and Venezuelans.
- Approximately 250,000 individuals engage in NFT trading on OpenSea every month.
- By March 2024, OpenSea had exceeded 1 million people actively buying and selling NFTs.
- In 2024, user penetration is projected to be 0.19%, with expectations for it to rise to 0.20% by 2028.
- Vietnam and Ireland exhibit the highest proportion of older individuals who own NFTs, each accounting for 11%.
- The projected increase between 2023 and 2027 is expected to occur at a more moderate rate. Despite this growth, the penetration rate of 0.24% in 2027 remains relatively low, suggesting a vast potential market size.
- Males aged 35 to 54 stated that they purchased NFTs because they were enthusiasts of crypto art.
Demographic NFT Statistics
- The largest demographic interested in NFTs comprises individuals aged 18 to 24, making up 14% of respondents. This is followed by 25 to 34-year-olds, with 8% expressing interest.
- Men are three times as likely as women to collect NFTs.
- The NFT industry in the Asia Pacific region is poised for exponential growth, with an anticipated annual growth rate of 54.8% and a projected market value of US $154,365.2 million by 2028.
- In early 2021, only about one in ten Americans invested in NFTs, with most investors being millennial men.
- Millennials are 3x likely as Gen Z to purchase NFTs.
- India, Vietnam, Hong Kong, Singapore, Brazil, Ghana, and Indonesia are the top seven countries that will adopt NFTs in 2022.
- Among South Africans, NFT ownership reveals a demographic trend, with 18-34-year-olds leading the charge, as 3% of men and 1% of women embrace this innovative form of digital ownership.
Also See: Will 2024 Be The Year of the GameFi Explosion?
NFT Revenue Statistics
- In 2024, the average revenue per user in the NFT market is US$162.1.
- By 2028, revenue from NFT will reach more than 3300 million by 2028.
- Statista predicts the United States will generate the highest revenue, reaching US$ 1,122,000.00 in 2024.
- The value of NFT sales on the Ethereum blockchain (completed) reached 2390 per day in March 2024
- Seventy percent of Americans are unfamiliar with what an NFT is.
- Approximately 53.6% of documented NFT sales are reported to be less than $200.
- Sales of NFTs in the art sector have shown fluctuations, with a total value of approximately $78 million on April 15, 2021, and $19.2 million on March 15, 2024.
- In India, the revenue in the NFT market is forecasted to hit US$15,810.0k in 2024.
- Individuals over 65 show the lowest NFT trading participation and interest, with only 0.8% having previously engaged in buying or selling NFTs and 6.3% expressing a desire to do so.
- According to ArtTactic, NFT art sales on Nifty Gateway have exceeded $250 million.
NFT Marketing and Sales Statistics
- Between the period of one year 2020 and 2021, the NFT market grew by over 20 times.
- The highest-priced NFT (The Merge) sold for over $90 million.
- The other two NFT collections, Beeple and Clock, were sold for $69 346 250 and $52 740 000 respectively.
- Half of the top ten largest selling NFTs are from CryptoPunks.
- The top five NFT projects each surpassed $1 billion in sales.
- Over 50% of NFT sales are below $200.
- Opensea is the top NFT marketplace with the maximum number of NFT sales. It generated over $33 billion in sales, while Axie generated $4.2 billion.
- Between Q2 and Q3 of 2021, NFT trading increased by over 700%.
- Among the most sought-after genres of NFTs are those related to the metaverse, gaming, art, and sports.
Also See: Crypto Marketing Trends & Advertising Stats For 2024
NFT Collections Statistics
The top NFT five collections by volume in April 2024 are:
- Bored Ape Yacht Club
- Pudgy Penguins
- Mutant Ape Yacht Club
- Azuki
- Mad Lads
The top blockchains used to buy NFT collectibles are:
- Bitcoin
- Ethereum
- Solana
- Mythos
- Polygon
- Immutable
- Avalanche
- Flow
- BNB Chain
- Stargaze
The top NFT collections by market cap in April 2024 are:
- CryptoPunks
- Bored Ape Yacht Club
- Pudgy Penguins
- Azuki
- Mutant Ape Yacht Club
- Memeland Captains
- Mad Lads
- Milady Maker
- Art Blocks
Key NFT Stats For 2024
The worldwide Non-Fungible Token market is projected to hit $231.98 billion by 2030, growing at a CAGR of over 33% from 2022 to 2030
The global Non-Fungible Token (NFT) market is anticipated to reach $231.98 billion by 2030. This growth trajectory reflects a remarkable compound annual growth rate (CAGR) of over 33% from 2022 to 2030.
Such projections indicate a significant and sustained expansion of the NFT market over the coming years, driven by increasing adoption, technological advancements, and evolving consumer preferences.
From January 20 to 27, 2024, NFT sales volume decreased by 21.25% compared to the previous week.
During the week spanning January 20 to 27, 2024, there was a significant downturn in the volume of NFT sales, marking a notable decrease of 21.25% compared to the sales volume recorded in the preceding week.
The NFT buyer-to-seller ratio rose to 118.6% in 2024, with 228,509 buyers and 192,718 sellers.
In 2024, the NFT market witnessed an increase in the buyer-to-seller ratio, reaching 118.6%. This means that for every 100 sellers, approximately 119 buyers actively participated in the market.
Specifically, during this period, 228,509 buyers engaged in NFT transactions, while 192,718 sellers participated.
The leading nations in NFT sales and revenue are the United States, the United Kingdom, Russia, Germany, and Japan.
The top-ranking countries contributing to NFT sales and revenue are the United States, the United Kingdom, Russia, Germany, and Japan, indicating a global interest and investment in the NFT market.
The Merge, PAK’s NFT artwork, currently holds the title of the most expensive NFT, sold for $91.8 million.
The Merge, an NFT artwork created by PAK, has garnered significant attention as the most expensive NFT, fetching a staggering $91.8 million at auction. This remarkable sale underscores digital art’s growing value and prominence in the NFT market and highlights the potential for high-value transactions within the realm of non-fungible tokens.
Newcomers like Frame and RARI are carving out their presence in the NFT market
Emerging players like Frame and RARI are swiftly establishing themselves as notable contenders in the competitive NFT market.
These newcomers bring fresh perspectives and innovative approaches to the space, offering creators and collectors unique value propositions and captivating offerings.
As they continue to gain traction and recognition within the industry, Frame and RARI are poised to make significant strides and leave a lasting impact on the evolving NFT ecosystem.
NFT art sales fluctuated significantly from April 2021 to March 2024, peaking in August 2021 with 117.4 thousand sales in 30 days but declining to around 2.4 thousand sales by March 15, 2024
The NFT art market witnessed substantial fluctuations in sales volume from April 2021 to March 2024, reflecting the industry’s dynamic nature.
A peak was observed in August 2021, with an impressive 117.4 thousand sales recorded within a 30-day period. This highlights the heightened interest and activity in NFT art at that time.
However, the market has experienced a gradual decline, with sales dwindling to approximately 2.4 thousand by March 15, 2024. This
The rise of the Web3 game Gas Hero notably boosted trading volume for both Mooar and Polygon in January.
The surge in popularity of the Web3 game Gas Hero significantly impacted trading volume, particularly for platforms like Mooar and Polygon, during January.
The increased trading volume is a testament to the expanding
NFT Trends – April 2024
AI-Curated NFT Collections
AI algorithms are increasingly used to curate personalized and visually appealing NFT collections, enhancing user engagement.
Gaming Tokenization
Games continue to tokenize real estate, characters, and valuables, fostering thriving cybernetic economies and expanding the use of NFTs.
Integrated NFTs
This trend merges NFTs’ unique aspects with fungible tokens’ fluidity, introducing fractional ownership and broadening accessibility, largely influenced by the groundbreaking ERC404 standard.
Tokenized Real-World Assets
Transforming physical assets like real estate and artwork into digital tokens on the blockchain is reshaping investment landscapes, democratizing access, and enhancing market liquidity.
NFTs in Gaming
Integrating NFTs in gaming is revolutionizing player engagement, empowering true ownership of in-game assets, and fostering dynamic virtual economies, promising innovative gameplay experiences.
Phygital NFT Fusion
Bridging the physical and digital realms, Phygital NFTs authenticate physical objects or experiences through blockchain technology, enriching customer interactions and offering novel collectible experiences.
DeFi NFT Integration
Non-fungible tokens are integrated into decentralized finance systems, enabling users to leverage NFTs for mortgages, solvency provisions, and other DeFi-related operations.
Metaverse Expansion
NFTs play a vital role in shaping virtual environments within the metaverse, enabling users to engage in transactions involving the buying, selling, and exchanging of virtual properties.
Also See: What You Should Know About Metaverse Marketing
Social Media NFT Integration
Social media platforms are incorporating NFTs, enabling users to showcase their non-fungible assets and exploring ways to reward content creators with NFTs.
Bitcoin-based NFTs (Ordinals)
Ordinals, which utilize the Bitcoin blockchain, embed digital assets within individual satoshis. This offers an alternative avenue for creators and collectors who prefer Bitcoin’s security and widespread adoption.
Frequently Asked Questions
What is the current market size of NFTs in the digital marketing industry?
The global NFT market was valued at $36.12 billion in 2023 and is projected to reach $217.07 billion by 2032.
Which is the biggest NFT blockchain?
Ethereum is the leading non-fungible token (NFT) landscape, commanding a 72.3% market share and facilitating trades worth $8.54 billion.
Which are the top NFT trends between 2024-2029?
- The music NFT sector is experiencing rapid growth, projected to reach $80 billion by 2025.
- The NFT market will increase to almost $6.2 billion by 2025.
- The global NFT market is expected to expand by 9.10% from 2024 to 2028, reaching a market size of US$3369.0 million by 2028.
- The NFT Gaming Market is valued at approximately USD 471.90 billion and is forecasted to grow to USD 942.58 billion by 2029.
