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    Gate.io Blog:NFTs Annual Review

    2022-03-01 05:01:44 UTCRead:22291


    1. The global NFT transaction volume throughout 2021 exceeded $19.6 billion, an increase of over 228 times compared to2020.
    2. In general, NFTs were less influential and popular with low transaction volume before 2021 when they were only regarded as "toys" for a few senior players.
    3. As more related infrastructure was built from 2020, the number of NFT-active addresses increased by 201%, buyers increased by 144%, and sellers increased by 113% from 2018 to 2020, registering an expansion of 825% in its market size.
    4. By 2021, the NFT ecosystem further expanded by combining traditional fields such as art, finance, entertainment, and even social networking. Therefore, NFTs exerted greater influence in the market and were gradually becoming the next trending topic following the DeFi in the industry.
    5. The digital collection of NFTs is also the first application of NFT that became widely known to the public.
    6. In the 2nd half of 2021, NFT was closely integrated with the metaverse, which played a role in many fields such as games, entertainment, and social interaction.
    7. The first trending NFT topic in the second half of 2021 was the rise of GameFi.
    8. Axie Infinity stood out from the many GameFi games and became the most important one to make the "Play-to-Earn" popular. The "Play-to-Earn" model is another factor that makes GameFi popular.
    9. In addition to the enthusiastic participation of individual investors in the transaction, institutions, and celebrities also entered the market in the second half of 2021.
    10. 2021 could be said to be the year that NFTs made itself known outside of the crypto space. In 2022 where we are now, we believe that NFT will be integrated into our lives on a wider and deeper scale.

    2021 was the year defined by NFTs. Before 2021, the average NFTs monthly sales were lower than $20 million, accounting for only 0.003% of all encrypted assets trading volume. However, the global NFT transaction volume through 2021 exceeded $19.6 billion, an increase of over 228 times compared to 2020.

    When it comes to the social impact, NFTs have also made themselves known outside of the crypto space and have become a kind of "pop culture" craze widely known to the public. "NFT" beat a series of candidates such as "Crypto" and "Double-vaxxed" and was named by Collins Dictionary the word of the year for 2021 on November 24. In 2021, NFTs appeared in various fields such as art, finance, social networking, and many other fields, with the usage rate of the term NFT growing by over 11,000%.

    For more information on the specific analysis process, please read this blog:
    NFTs Annual Review (Part Ⅰ): NFTs Rise To Fame
    NFTs Annual Review(Part Ⅱ): The Move Towards the Metaverse

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    February 28

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