Publication date
04/14/2021
Language
English
Page number
136
Reading time
60
Format
Hard copy
Level
Intermediate
Yearly NFT Market Report
Professional/Free · 2020
Data doesn’t lie. At NonFungible we analyze it and make the complex simple and freely accessible for everyone.
Our Yearly Report looks into Non-Fungible Token trends on the Ethereum chain. We use our data to provide an in depth analysis of the market backed with charts and analytics.
Details
Key points
- Global growth of the NFT ecosystemThe major increase of active wallets between 2019 and 2020 accompanied by an impressive hike of almost 50% in the number of buyers suggests the community of owners and users of NonFungible Tokens has grown considerably. At the same time, the unprecedented volume of USD transactions during 2020 largely echoes the increased value of the Cryptocurrency market which began to rise during 2019. This gradual exit from the Crypto Winter has automatically led to an increase in the value of assets in USD. This increase in USD volume is also supported by new NFT projects and users coming into the Ecosystem. In short, 2020 appears to have been the year of revival for the NFT economy, showing the first very encouraging development indicators after the relative weakness observed in 2019.
- Number of active on-chain wallets surgedThere was a huge spike in active wallets at the end of 2020, which coincides with the start of the latest Crypto bull run. It is also estimated that this peak in activity at the end of the year is due to the various announcements made by the media relating to large IP and Video Game Studios around the world entering the space. The second notable trend on this chart is the growing gap between the number of Buyers and Sellers each month. This gap, which becomes very visible from the second semester of 2020, is a very good indicator of the positive development of the Ecosystem. We will wait to see if the trend continues in 2021 and if these new owners of NFT will use their assets.
Summary
This report is not meant for Non-Fungible experts but to help everyone in or outside the NonFungible Tokens ecosystem to help them to better understand NFTs. What is the potential? Why should you care about NFTs?
2020 has been an unprecedented year for most of the world's population. From a global pandemic and lockdown to political upheavals, riots and catastrophic natural disasters… we’ve had it all!
In stark contrast and perhaps partially due to such turbulent global events, interest and investment in virtual economies and digital assets have boomed, and there has been more interest than ever seen before. Within the Non-Fungible Token ecosystem, individual sectors have seen success, Art, Gaming and Digital Assets have all gained remarkable traction during 2020 with this once niche and experimental industry maturing into a force to be reckoned with.
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