DappRadar reports that NFT sales rose 67.57% in 2022. NFTs are one-of-a-kind digital assets. They are used in Web3, a growing blockchain and decentralized application sector. 101 million NFT sales were reported last year. With a 21% market share and 21.2 million transactions, Ethereum leads the NFT market. Wax, polygon, and solanaceous ecosystems also dominate NFT. Transaction activity increased by 440% and 315% in the Solana and ImmutableX ecosystems.
The report found that with 1 million transactions in 2021 and 2022, the Binance ecosystem has not changed. The report also found new top DApp categories. Most chains will have Defi apps in 2021. This year, a shift toward high-risk gaming and NFT DApps has levelled the playing field for most of the 13 chains analyzed in the report.
The research found the most on-chain developers on Ethereum and Cardano. Polkadot and Cosmos network development increased by 16% and 131.7%, respectively. Web3 NFTs are popular culture. from the NBA and FIFA using NFTs to Amazon’s documentary series about NFT collectors. China will also launch its first national NFT marketplace to trade digital assets at the end of 2022.
The report also mentions the Defi app’s popularity and the growth of NFT sales. Defi describes blockchain-based financial applications. The apps lend, borrow, and trade digital assets. In the research, Ethereum and Cardano had the most on-chain developers. This shows that many new projects and startups are entering the Defi ecosystem.
The report also points to modular blockchains like Polkadot and Cosmos. These flexible, scalable blockchains are suitable for many applications. These blockchains’ network development activity increased by 16% and 131.7%, respectively. This suggests that more developers are interested in building on these platforms, which could lead to innovative blockchain technology use cases.
The DappRadar report depicts a fast-growing blockchain and decentralized application ecosystem. NFTs, Defi apps, and modular blockchains show that Web3 is maturing. Blockchain and decentralized applications have a bright future despite scalability and security issues.
The report is based on 2022 data, but this is a fast-moving ecosystem with new projects and developments. Staying up-to-date on blockchain and decentralized application trends is crucial.
The DappRadar report concludes that NFT sales increased by 67.57% in 2022. Wax, Polygon, and Solana follow Ethereum in the NFT market. The report also found that high-risk gaming and NFT DApps are now the top-performing DApp categories, levelling the playing field for most of the 13 chains analyzed. NFTs are becoming more popular in popular culture, and China has launched a national NFT marketplace.
