Over $1B reinvested into ecosystem from NFT mints in 2022 according to Nansen report

Nansen, 1 of the industry’s starring blockchain information and analytics platforms, released a study Tuesday detailing the travel of Ethereum raised done NFT mints successful 2022.

The “NFT Sales: Where did the ETH go?” study builds connected Nansen’s 2021 study, which revealed that astir funds raised done NFT mints “were moved into non-entity wallets.”

“NFT creators are present retaining funds and reinvesting them backmost into the ecosystem, pointing to a displacement towards becoming much mature and conscientious builders.”

Nansen reviewed collections with income measurement supra 20 ETH wrong the archetypal six months of 2022. In its analysis, the information indicates a “maturing NFT market.”

Report Highlights

•  963,227 ETH was raised from Ethereum NFT minting.
• 488,356 ETH retained by NFT projects (50.7%),
• 440,194 ETH raised distributed to “non-entity wallets” (45.7%)
• ETH sent to “non-entity wallets” declined by 6.6%
• 28,986 NFT projects launched connected the Ethereum blockchain
• 140 NFT collections raised implicit 1,000 ETH
• The mean ETH raised per task was 59.4 ETH
• The apical 5 NFT collections raised 10% of full ETH crossed NFT projects (81,354 ETH)

Source: Nansen

Among the NFT collections analyzed, the bulk offered escaped mints showing a increasing inclination for escaped mint projects successful 2022. Only 343 collections launched with mints costing implicit 500 ETH.

Source: Nansen

Louisa Choe, a Research Analyst astatine Nansen, commented,

“the minting assemblage of the NFT marketplace remains steadfast with the emergence successful mean mints per unsocial wallet address… on-chain grounds of NFT collections reinvesting superior income gross into NFT demonstrates that builders… making decisions that volition enactment that growth.”

Supporting this thesis, of each the funds raised from projects covered successful the report, lone 0.3% of funds were sent to exchanges. However, 1 regulation was identified successful the report, fixed that the probe does not screen onward transactions from the receiving wallets.

The study details Moonbird, Pixelmon, VeeFriends, World of Woman Galaxy, and Genesis Box disclosing tagged wallets that person interacted with the apical NFT collections.

The afloat study tin beryllium recovered on Nansen’s website.

The station Over $1B reinvested into ecosystem from NFT mints successful 2022 according to Nansen report appeared archetypal connected CryptoSlate.