NFT Transaction Volumes are Up Over 25x in the First Half of 2021

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The non-fungible tokens (NFTs) craze continues to rise with transaction volumes in the first half of 2021 up by more than 25 times since December 2020.

While NFT activity was certainly higher before the May 2021 crypto market crash, there is continued growth in the number of NFT users regardless.

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SEE ALSO: QLipit – An African NFT Ecosystem – Wins Africa Hero Award at the ‘Decentralized Africa’ 2021 Binance Hackathon

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In total, over $2.5 billion in NFT sales have been reported in H1, 2021. This is a massive increase of over $13.7 million in sales compared to 2020 for the same period, despite the May 2021 market drawdown.

Below are just a few stats about the NFT ecosystem in H1, 2021:

  • The ecosystem is growing faster, appealing to more and more new users
  • The NFT ecosystem has a very good retention rate of new users (25%)
  • After the Boom and hype, the ecosystem has seen nearly 40,000 new users arrive every 2 months
  • OpenSea NFT marketplace saw a record month in June 2021 with almost $150 million in sales
  • NFT sales in June 2021 alone have eclipsed those for the entire first half of 2020 for the OpenSea marketplace
  • There have been betwen 10, 000 – 20, 000 buyers per week for Ethereum-based NFT transactions since early March 2021
  • Since March 2021, there have been over $1.3 billion in total NFT sales
  • Since March 2021, DeFi-based NFTs account for $8 billion in sales volumes
  • Collectible and sports-themed NFTs are the most popular NFT categories
  • Roughly 300, 000 sports-related tokens have been sold in H1, 2021 compared to 124, 000 for art

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RECOMMENDED READINGThe Blockchain Industry Saw a 639% Growth YoY and 2,627% Growth in NFTs in Q1, 2021 vs Q4, 2020, According to Latest Report

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