Welcome to the Non-Fungible Tokens (NFTs) world, where digital assets create waves in the crypto world.
In this article, we’ll cover the basics of NFTs but, most importantly, provide some solid statistics. You will find shocking numbers on how many NFTs and NFT collections exist. Also, how many crypto wallets bought at least one NFT, and how many platforms sell them?
Whether you’re a crypto enthusiast or new to the crypto world, this guide will provide reliable info about these fascinating digital assets.
First, let’s cover some basic information. It’s necessary, especially if you are starting with NFTs.
- What is an NFT? NFT stands for Non-Fungible Token. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged one-to-one, NFTs are unique and indivisible.
Each NFT represents ownership or proof of authenticity of a specific digital asset, such as artwork, music, videos, or virtual real estate. Think of NFTs as digital certificates of authenticity, verifying the uniqueness and ownership of a particular item in the digital domain.
» Learn more: What is an NFT and how does it work?
- What is NFT Minting? NFT minting refers to creating a new NFT. New projects mention mining when they sell an NFT collection for the first time. This process involves uploading a digital asset to a blockchain platform that supports NFTs.
By minting an NFT, the creator establishes the digital asset’s provenance, ownership, and immutable record on the blockchain. Minting often requires the payment of transaction fees, which vary depending on the blockchain network and its congestion.
» Learn more: What is an NFT minting and how does it work?
- What is an NFT Collection? An NFT collection is a group or series of NFTs with a common theme, concept, or creator. Collections can be curated by individuals, artists, brands, or even decentralized communities.
For example, an artist might create any collection of digital artworks, each represented by a separate NFT. Collections can also feature limited editions, where a specific number of NFTs are minted within the collection. NFT collections contribute to the uniqueness and scarcity value of the digital assets they encompass.
Now that we’ve covered the basics of NFTs let’s delve deeper into the numbers to understand the scale and impact of this rapidly growing ecosystem.
How many NFTs exist (a wild guess)?
Estimating the exact number of NFTs is challenging due to the decentralized nature of the blockchain networks that host them, the large number of NFT collections, and the varying number of NFTs in each collection.
However, we can evaluate based on available data and trends within the crypto space. Note that these figures are subject to change as new NFTs are created daily.
Below, you will see how we calculated the number of existing NFTs.
First, let’s look at the number of NFT collections. According to Intotheblock, more than 100k different NFT collections are out there.
Here is the tricky part, the number of NFTs in each collection varies a lot. For example:
- Axie Infinity has 283.8k gaming NFTs.
- Arcus, with just 40 pieces of one-of-a-kind NFTs.
- Popular projects, Bored Ape and CryptoPunks, have 10,000 NFTs.
A rough guess on how many NFTs there are:
Instead of an exact number, we will present you with an estimated range.
Let’s assume there are between 10 to 10,000 NFTs per collection and 100,000 collections. We get the following range numbers:
There are anywhere from 1 million to 1 billion NFTs on the market.
As the NFT space evolves and attracts more participants, the number of NFTs will likely increase exponentially.
How many NFT collections were created overall?
Determining the number of NFT collections created overall is less challenging since multiple resources track NFT statistics.
As of June 2023, a little over 101,000 NFT collections are available.
Image source: Intotheblock.com
We can also explore the different types or categories of NFTs to get a sense of the wide range of collections that have been established. These categories highlight the diverse interests and creative endeavors within the NFT space.
Here are the different types of NFT collections: Art, Gaming, Memberships, PFPs (Profile
Picture), Photography, Music, and more.
Remember, the NFT landscape is dynamic and rapidly changing, making it challenging to provide an exact count. However, the sheer diversity and scale of NFTs across different categories and blockchain networks highlight the immense growth and potential of this exciting digital asset class.
How many NFT marketplaces are there?
Let’s take a closer look at the top 10 NFT marketplaces to get a sense of the prominent players in this space:
- Opensea – The largest and most popular NFT marketplace today.
- Blur – An emerging NFT marketplace that emphasizes digital art.
- Looksrare – A marketplace focusing on digital art and collectibles.
- Axie Marketplace – The primary marketplace for Axie Infinity, a blockchain-based game.
- CryptoPunks – One of the first and most iconic NFT projects, it sells independently.
- Magic Eden – A marketplace initially built on the Solana blockchain.
- X2Y2 – A marketplace focusing on fractional digital asset ownership.
- NBA Top Shot – Officially licensed NBA digital collectible moments.
- Mobox – A marketplace that unleashes the power of NFT gaming.
- Solanart – Second largest NFT marketplace built on Solana.
Different blockchains used for NFTs
NFTs are not limited to a single blockchain; various blockchain networks support their creation, trading, and ownership.
Here are the top 5 blockchains commonly used for NFTs:
- Ethereum (ETH)
- Binance Smart Chain (BSC)
More interesting NFT stats and trends
We’ve done an in-depth article on NFT industry statistics and trends earlier. But let’s recap the most important stuff.
How much trading volume do NFTs have?
The trading volume of NFTs has experienced exponential growth, reflecting the increasing interest and adoption of these digital assets.
NFT trading volume has reached impressive figures.
Image source: Intotheblock.com
The NFT market has witnessed multi-billion-dollar trading volumes in recent years. As of June 22, 2023, the accumulated volume traded in NFTs sits at the 77.62 billion mark.
High-profile sales of NFT artworks, collectibles, and virtual assets have contributed to these staggering figures.
Several high-profile NFT sales have garnered attention and propelled the market to new heights. Some notable examples include selling Beeple’s digital artwork for $69 million, the CryptoPunks collection achieving millions in sales, and NBA Top Shot moments exchanging hands for substantial amounts.
How many addresses (wallets) used NFTs?
The number of addresses (wallets) actively engaging with NFTs provides insights into participation and adoption within the NFT ecosystem.
Image source: Intotheblock.com
As NFTs gain mainstream attention, the number of wallets interacting with NFTs has steadily increased. As of June 22, 2023, the total cumulative number of wallet addresses that interacted with NFTs at least once reached 7.9 million.
The world of NFTs has seen remarkable growth and adoption, transforming how we perceive and interact with digital assets. With numerous marketplaces, diverse categories of NFTs, and significant trading volumes, NFTs have solidified their place in crypto and beyond. From art and collectibles to gaming, music, and virtual real estate, NFTs offer a new paradigm of ownership and creativity.
As the NFT ecosystem evolves, we expect further advancements, innovations, and mainstream integration.
However, staying informed and exercising caution while navigating this dynamic landscape is essential.