Despite Sales have been declining for months And Falling pricesOverall NFT According to data from, sales volume in 2017 was almost equal to the peak of 2021. DappRadar. The data suggest that a buzzy start to NFT markets in 2022 helped boost the year-end total and made up for several months of weakness.
DappRadar shared that the NFT market generated $24.7 billion in organic trading volume across all blockchain platforms and marketplaces in 2022. Decrypt. That’s a slight dip from the $25.1 billion total recorded in 2021 as the Activity in the NFT market soared Interest in tokenized collectibles was initially more than a niche hobby.
DappRadar’s “organic” data excludes trades that are suspected to be wash trades, or trades that have been manipulated in some way.
Wash trading occurs often when traders swap their NFTs between their controlled wallets at inflating prices. It is often done to try and game a token rewards system on a marketplace. Billions of dollars’ worth of wash trading This was not included in the data as it was seen on marketplaces such as LooksRare or X2Y2, where token incentives were offered for trading.
DappRadar witnessed a dramatic increase in NFT trades last year, even though overall trading volume was flat. The firm’s analytics team recorded about 101,000,000 NFT trades during 2022, compared with 58.6 Million NFT trades in 2021. This means that more NFTs were traded at lower USD prices due to falling crypto and NFT price.
NFTs for 2022
The crypto market saw significant losses over the past year. These losses were accelerated in May due to the collapse of bitcoin. Terra’s LUNA and UST. The so-called crypto winter was then exacerbated. Fall of crypto exchange FTX The resulting Industry contagionIt will also have an impact on crypto prices.
The NFT market continued to follow a similar pattern throughout the year. Sales surged in January as 2021’s momentum carried into the new year, as top marketplace OpenSea alone registered a record month With $5 billion in trading volume.
The trading volume dropped in the following months, but the market rebounded. Launch massive in April of NFT land plots for Yuga Labs’ Otherside—a Bored Ape Yacht Club-themed meta game—buoyed the market and drove OpenSea to a single-day record for trading volume. At that point, it looked as though 2022 NFT sales volume could handily top 2021’s tally.
That spike didn’t last, however. NFT trading momentum slowed sharply in May as crypto prices plummeted. Monthly volume fell from nearly $3.3 billion in May to just over $1 billion in June, per DappRadar, but the market hasn’t topped the $1 billion mark in the months since.
Ethereum’s Bored Ape Yacht Club was last year’s Top-selling NFT projectAccording to data from CryptoSlamWith almost $1.6 billion worth trading volume, However, most of the trading occurred between January to May because starting prices fell. A peak price of $429,000 in April was reached late in the month Worth of ETH Recent lows of less than $60,000 November
The NFT market ended 2022 in a relative stalemate compared to its early-year peak. But overall trading volume ticked up slightly over November’s tally, while the number of NFTs sold in the final month of the year rebounded after a dip the previous month.
DappRadar reported that December’s NFT market saw an increase of nearly $684million in organic trades, compared with November’s adjusted total of $662million. The month saw the sale of 6.7 million NFTs, compared to 4.8 million in November or 6.1 million October.
DappRadar reported that OpenSea was still the most popular marketplace for organic NFT tradings with more than $297 million in December. That’s up from about $259 million in November. BlurThe new competitor,, has incentivized NFT trading with the promise to upcoming token rewards. Its value jumped from $115 million in November, to nearly $177 million in December.
The Solana The trend of blockchain’s recent up-and down was continued. It fell to $70 million, from $95 million in November. It was $67m in October, compared to $134m in November. Launch of y00ts. The SOL value dropped sharply November and December Due to the FTX crash.
Meanwhile, Flow—the blockchain platform behind NBA Top Shot And NFL All Day—stemmed the bleeding after two straight months of 50% or greater declines. Flow recorded $6.8million in NFT sales in December, a decrease of $7.7million in November.
Top Shot experienced its first month-overmonth increase. Many months of declinesDecember, $2.2 million (per CryptoSlamAfter less than $2.1million in NFT sales in November, ), The FLOW token set a new all-time low price This week: earlier After steadily losing steam The platform has seen a decline in NFT activity.