The Definitive NFT Statistics Report (2023)
The cryptocurrency world has grabbed the world’s attention. But not everyone understands NFTs and their potential. Some non-fungible tokens may be a good investment opportunity like in the early days of Bitcoin and other cryptocurrencies. Although crypto has been a focus recently, this interest in the blockchain has also benefited NFTs.
You may be wondering what the link is between cryptocurrency and NFTs. Crypto trading platforms in Canada usually support NFT trading with many investors interested in both and many NFTs being purchased with cryptocurrency.
What is an NFT?
NFT stands for non-fungible token. These tokens are proof of ownership. The ownership is recorded in the blockchain just like Bitcoin and other popular cryptocurrencies.
Fungible means that you may trade an item for a similar item. For example, you can trade one Bitcoin for another Bitcoin or one dollar for another dollar. They are exactly the same. This makes them fungible. Non-fungible tokens, on the other hand, cannot be traded for one another because each one is unique. They first need to be traded for a commonly accepted currency. This is often US Dollars or cryptocurrency.
An NFT is digital proof that you own a digit asset like NFT art, NFT music or NFT games.
Key numbers: NFT in the world
Here are the facts and figures about NFTs in 2022
- The number of NFT users worldwide: 2,574,302
- Number of NFTs marketed worldwide: 1,197,593
- Global value of the NFT market: $21 billion.
- NFT market growth forecast: $174 billion by 2026
- The biggest NFT sale in the world so far is ‘The Merge’ by Pak. It sold for $91.8 million.
- The highest financial volume was recorded on May 1, 2022 with $543,781,619 on OpenSea, the largest platform specializing in NFTs.
- Yuga Labs, the company behind the CryptoPunks collection reached the highest financial volume on October 28, 2021 at $538,194,427.
- The top 3 countries where the NFT ownership rate is the highest in the world are The Philippines, Malaysia and Thailand (based on the number of queries for the word "NFT" on search engines).
The 10 most popular NFT art collections
Are you wondering what are the ten most popular NFT art collections? Look no further. They have been ranked based on a combination of the number of times the piece has been sold and its total sales value. It has not been listed based on the highest sales price.
|Ranking||NFT Name and Rank||Number of sales||Total Sale Value|
|1||Bored Ape Yacht Club||497||$2,584,902,156|
The top 5 most expensive NFTs in the world
These are not just NFT prices in Canada but the highest prices paid worldwide. You will see by the prices that NFTs are definitely in demand. Price always shows the interest of investors and how they are feeling about the future of the market.
Below are the 5 most expensive NFTs in the world.
The 5 most popular NFT games in the world
The allure of NFT games is that you can earn money while you play. These NFT games are not the only games, but they are the most popular ones to play. You can play NFT games in Canada.
The top 5 most traded NFT games according to CoinMarketCap are:
The 5 best NFT memes ever
- One funny meme that seems to be appreciated across the board is the “Charlie Bit My Finger” NFT Meme.
- Similarly “Disaster Girl” has generated a lot of interest.
- “Success Kid” grabbed attention after appearing on a meme site before taking off.
- “Bad Luck Brian” was a similar accidental find, in that Kyle Craven’s yearbook photo was used as a meme that is now worth over $30,000.
- “Leave Britney Alone” was one of the first viral videos. It received 2 million views in 24 hours.
12 Interesting NFT Prices That You Should Know
Here are some popular NFTs and their prices that are worth knowing
The Bored Ape NFT is listed on the OpenSea marketplace and hit a high of $429,000. The Ethereum price was 132 ETH.
There are some celebrities who have entered the NFT market. Melania Trump bought her own NFT with a winning bid of $185,000.
Another celebrity-NFT involvement was when Canadian Rapper Tory Lanez sold Album-NFTs for $1. They traded later at about $30,000. Tory Lanez has endorsed NFTs.
Lil Baby endorsed the NFT and crypto world by purchasing a Bored Ape. It has recently traded at 37.99 Ethereum. This is more than $170,000.
Another star who bought an NFT was Tom Brady. He purchased a Bored Ape Yacht Club NFT for $430,000.
Although he is not a conventional celebrity Charlie is worth mentioning. You may have seen the viral video of baby Charlie who bit his brother Harry’s finger. This has been developed into an NFT. Its most recent sale value was $760,999.
Remember that prices of NFTs can change quickly. For example, Cryptopunk sold for $1.03 in October 2021. It is now trading at around $139,000.
Some NFTs have multiple tokens available. The Spider-Man NFT has tokens that range from $40 to $400. Their resale value has fluctuated around $4,300.
This is slower growth in comparison with The Monkey NFT. It sold initially for $1,000 and is now trading just below $72,000.
However, there are some NFTs that do not grow in value immediately. There was a lot of excitement about The Invisible Friends NFT. This collection of 5,000 invisible animated characters started at $29,000 and is currently trading near $22,000.
Lazy Lion is another collection of artworks. This NFT trades currently at $1,808.
One of the stranger NFTs that exists is the Shiba NFT. This NFT trades at $0.000000003991 currently. There are 3,956 tokens currently on the market.
What does NFT stand for?
NFT means non-fungible token. There are also non-fungible coins.
How do you make an NFT?
It is easy to create your own NFTs. Here is how.
Steps for making an NFT:
- Choose a file to turn into a digital asset. This can be artwork, music or a game.
- Choose a blockchain (the most common is Ethereum. But some other options are Cosmos, Tezos, Polkadot and Binance Smart Chain).
- Open your digital wallet so that you can hold the token and cryptocurrency.
- Choose a marketplace.
- Upload the file.
- Set up the sales process (You can choose between a fixed price, a timed auction or an unlimited auction).
How to make NFT art?
- To make NFT art you will first need a crypto wallet. You will need to create a wallet that you can use to send and receive crypto. This will need to be linked to your trading platform. On the platform that you have chosen, you will create a collection.
- The following step to create NFT art is to create your digital arts token. This is the token that will be assigned to your artwork on the blockchain.
- You can then list your art for sale. Keep reading below to learn how to sell an NFT.
- Lastly, you should promote your art to create buzz about your NFT. Social media is a common way to do this. Some NFT memes have gone viral and become very valuable.
How to buy NFT?
If you would like to buy an NFT in Canada you will need a wallet. After this, choose a marketplace and open an account there. You will need to connect your wallet to your chosen marketplace.
Research and select the NFT that you like. It is important to note that most traders will trade in Ethereum. Remember that the most popular place for creating an NFT is through Ethereum’s blockchain.
How to sell NFT?
It is a similar process for selling and buying NFTs.
- To sell NFTs you will need to connect your wallet to a marketplace.
- The difference between buying and selling an NFT is that you will need to set the price. You can do this by considering the historical sales price, rarity, ease of trade and credibility of the creator.
- The next step is to create a listing. This is done differently based on the layout of each trading platform.
- Lastly, you will need to agree to sell once the buyer has been connected with you.
The data provided in this study is valid on the day of its publication and is subject to rapid change. All our studies are based on reliable information obtained from public and private organizations. For more information on our editorial guidelines, please click here.
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