Demographics Analysis
Last updated
Last updated
Beginning in 2021 Q3, the game and NFT categories have enjoyed a positive run. The play-to-earn movement led by Axie Infinity has made headlines promoting blockchain games into the mainstream. This trend has especially made an impact on emerging markets.
The hype surrounding NFTs has helped the space achieve phenomenal levels of popularity. In 2021 Q3, the NFT space generated over US $10.7 billion in trading volume. This is more than the entire volumes of 2019, 2020, and 2021 combined!
Between the massive coverage received about NFTs and the most recent surge in crypto prices, the play-to-earn narrative shows no sign of letting up. This is supported by On-chain Analysis. The usage in the industry has been driven by games since July 2021.
NFTs are a new means of demonstrating ownership of digitized goods, including video game assets. NFT, although still in its infancy, has actually been around for nearly a decade.
Weekly, US $10-$20 million worth of NFTs are sold in the blockchain.
The total value of NFT sales in 2020 was US $250 million.
The size of the NFT market exceeded US $41 billion in 2021.
The current growth of the collectibles market is exponential.
The first NFT was created in 2014.
More than 50% of NFT sales are valued at less than US $200.
Around 250,000 people trade NFTs monthly by way of OpenSea.
