NFT Statistics 2024 By Facts And Trends

Rohan Jambhale
Written by
Rohan Jambhale

Updated · May 31, 2024

Aruna Madrekar
Edited by
Aruna Madrekar

Editor

NFT Statistics 2024 By Facts And Trends

Introduction

NFT Statistics: NFTs, or non-fungible tokens, have been a hot topic for a few years now. This is a complex and fast-moving field. It’s always a good idea to stay updated on the latest developments and do your research before diving into the world of NFTs. This article will guide you effectively as it includes all current trends and analyses of the global market. But what exactly are they, and how big is the market? Let’s examine some interesting NFT statistics to understand this digital phenomenon better.

Editor’s Choice

  • According to NFT Statistics, revenue generated by the global NFT market is expected to reach above $2,378 million by 2024 and $3,369 million by the end of 2028.
  • Moreover, the annual growth rate of the NFT market will make a CAGR of 9.10% from 2024 to 2028.
  • In 2024, per-user average revenue in NFT will account for $162.1.
  • Besides, the highest revenue will generated by the United States of America, which will result in $1,122,000K in 2024.
  • In 2024, each NFT user penetration will be 0.19% and 0.20% by 2028.
  • NFT Statistics further state that Vietnam and Ireland have the highest number of NFT users, with 11% (each) of users aged 55 years and above.
  • Blur accounted for $22.6 billion of the trading volume in the NFT market in August 2023.
  • During the same period, the top NFT collection by sales was “Gods Unchained,” with over 328,761 sales.
  • In April 2023, the top two trading volumes of NFT were Ethereum, which accounted for $514 million and held a market volume share of 70%.
  • Approximately 50% of all NFTs are sold out below $200.

General NFT Statistics

  • To date, the most expensive NFT sold out is “The Merge” for $91.8 million.
  • In the United States, nearly 23% of Gen Y or Millennials have collected NFTs.
  • By 2030, the overall market size of the Non-Fungible Tokens will grow to approximately $231.98 billion, holding a CAGR of 33.7% from 2022 to 2030.
  • The total number of users in the NFT market is predicted to be 16.35 million by 2028.
  • The NFT market experienced a huge boom in 2021 but has seen some correction since.
  • Despite the slowdown, the market is still sizable. The global NFT market was valued at around $8.3 billion in 2023 [CoinMarketCap].
  • That might sound like a lot, but analysts predict the market will continue to grow steadily. By 2028, the number of NFT users worldwide is expected to reach over 16 million [Statista].

Trading Activity

  • NFT trading can be volatile, with ups and downs depending on trends and popularity.
  • Looking at recent data [NonFungible.com], the number of NFT sales has decreased slightly compared to yesterday. However, the total dollar value of sales increased. This suggests that while there might be fewer trades, the NFTs being sold are fetching higher prices.
  • Primary sales, which involve buying a brand new NFT directly from the creator, have dipped more significantly compared to secondary sales, where people resell previously owned NFTs.

Popularity and Trends

  • Not all NFTs are created equal. Certain collections and types of NFTs are more popular than others.
  • Looking at popular marketplaces, profile picture NFTs (like CryptoPunks and Bored Ape Yacht Club) consistently rank high in terms of sales volume [NonFungible.com]. These NFTs are essentially digital avatars that can be used online.
  • Gaming NFTs are another hot area. These can represent in-game items, characters, or even virtual land within a game.

NFT Statistics by Revenue

-nft-worldwide-revenue.

(Reference: statista.com)

  • As of 2023, the overall revenue generated by the Non-fungible tokens (NFT) market was $1,681 million, and revenue change was 80.5% from last year.
  • The expected revenue will be $2,378 million by 2024, and the revenue change will increase by 41.5% from 2023.
  • Furthermore, in the coming year, the revenue and change rate market of NFT will be followed by 2025 ($2,877 million and 21%), 2026 ($3,155 million and 9.7%), 2027 ($3,282 million and 4%), and 2028 ($3,369 million and 2.6%).

By Per-User Revenue

(Reference: statista.com)

  • According to a report published by Statista based on NFT Statistics, in 2023, the average revenue earned by non-fungible tokens per user was $126.7.
  • The expected revenue per NFT user in 2024 will be $162.1, followed by $185.6 by 2025.
  • However, in the NFT market, average per-user revenue is expected to be 2026 ($197.6), 2027 ($202.4), and 2028 ($206.1).

By NFT Users

(Reference: statista.com)

  • The total number of Non-fungible token users was 13.27 million, with a 0.17% user penetration rate in 2023.
  • As mentioned in NFT Statistics, the total projected number of NFT users will be 14.67 million by 2024, with 0.19% user penetration.
  • Meanwhile, the total number of users in NFT and user penetration rate will be 2025 (15.50 million and 0.20%), 2026 (15.97 million and 0.20%), 2027 (16.22 million and 0.20%), and 2028 (16.35 million and 0.20%).

The Top 10 Marketplaces for NFTs

  • Based on NFT Statistics on 24 May 2024, the best NFT marketplace is Blur, with an average price of $877.68 (-16.36%). There are 5.87K traders, with a share of 4.18%.
  • Blur’s total sales in 2024 will be around 15.51K (+6.75%), and its market volume will be $13.9 million (-9.56%).

In addition, other NFT marketplaces detailed are described below:

Market Average Price Total Traders and share Total Sales Total Volume and Volume Share
OpenSea $305.26 (+104.32%) 17.19K (+44.66%) 29.99K (+30.17%) $9.11 million (+417.44%)
Magic Eden $615.19 (-31.12%) 5.87K (-15.01%) 7.73K (-10.1%) $4.77 million (-19.63%)
OKX NFT Marketplace $864.94 (+20.79%) 2.72k (-10.09%) 2.69% (-1.93%) $2.13 million (-3.73%)
Element Market $69.57 (-0.626%) 3.53K (-11.61%) 17.34K (+3.92%) $1.11 million (-6.79%)
Fantasy.top $201.73 (+12.37%) 2.76K (-26.04%) 5.41K (-33.04%) $1.1 million (-19.84%)
UniSat $1.68K (+18.97%) 619 (+1.14%) 514 (+0.194%) $854.19K (+15.5%)
Mavis Market $53.86 (+283.36%) 4.37K (-26.31%) 11.86K (-25.49%) $620.57k (+174.21%)
Tensor $117.8 (-7.85%) 2.01K 3.36K (+3.82%) $603.16K (-3.81%)
CryptoPunks $132.16K (+3.89%) 8 (+100%) +100% $531.71K (+108.99%)

(Source: dappradar.com)

NFT Revenue Statistics by Top 5 Countries

#1. The United States of America

  • The NFT market size will be $1,122 million by 2024 and $1,585 million by 2028.
  • The annual growth rate of the NFT market will be at a CAGR of 9.02% from 2024 to 2028.
  • Besides, per user’s average revenue will be around $904.4 by 2024.

#2. The United Kingdom

Similarly, NFT Statistics also show that the average projected revenue will be $126.4 million by 2024 and $175.2 million by 2028, with a growth rate of 8.50% CAGR.

#3. Russia

On the other hand, in 2024, the market size will grow to $91.1 million, holding a growth rate of 8.93% from 2024 to 2028, which is around $128.3 million.

#4. Germany

Overall revenue in 2024 will be $89 million, and by the end of 2028, it will be $127.5 million. However, the compound annual growth rate will be 9.42%.

#5. Japan

The projected revenue in the NFT market in 2024 will be $86  million, which represents 9.57% of CAGR, and the projected total amount will be $124 million by 2028.

NFT Active Wallets Statistics

number-of-active-wallets-that-either-bought-or-sold-an-nft-asset-worldwide-from-1st-quarter-of-2020-to-1st-quarter-of-2024

(Reference: statista.com)

  • As per Statista report analyses, in the 1st quarter of 2023, the total number of active wallets bought or sold an NFT asset was 762,082.
  • NFT Statistics also show that in other quarters of 2023, the total number of active wallets is Q2 (307,050), Q3 (227,588), and Q4 (213,483).
  • In the 1st quarter of 2024, NFT assets were sold or bought by 197,419 active wallets.

NFT  Statistics by Market Transaction

(Source: coinmarketcap.com)

  • The biggest Layer-1 across the NFT market will be Ethereum, followed by Solana, Polygon, and BNB Chain in 2023.
  • As of April 2023, the top two trading volumes of NFT are Ethereum, which accounted for $514 million and held a market volume share of 70%; Solana made up $90 million (12%), and Polygon with $52 million with 7% market volume.
  • During the same period, other NFT transaction market volumes were ImmutableX ($27 million) and BNB ($18 million).

Ownership of NFT Statistics By Countries

  • In 2023, the Philippines captured the biggest market share of NFT, with 32% and an adoption rate of 41.5%.
  • Furthermore, other countries NFT ownership and adoption share were Thailand (26.6% & 34.5%), Malaysia (23.9% & 34.4%), UAE (23.4% & 34.9%), Vietnam (17.4% & 29.1%), Nigeria (13.7% & 35.4%), Brazil (12.1% & 22%), Hong Kong (10.7% & 21.1%), Venezuela (10.6% & 24.1%), Peru (9.9% & 24.4%), Colombia (8.4% & 20.3%), South Africa (8.3% & 17.7%), Argentina (7.4% & 16.1%) and Singapore (6.8% and 17.8%).
  • NFT ownership and adoption rate by least countries were Canada (5.6% & 11.8%), Australia (4.6% & 7.1%), Germany (4% & 7.4%), United States (2.8% & 6.7%), United Kingdom (2.5% & 5.8%), and Japan (2.2% & 4.6%).

By Gender Disparities

  • NFT Statistics 2024 also show that, in India, male and female NFT owners are 8.4% and 5.1%, respectively.
  • The second and third largest NFT-owning countries by gender share are Nigeria (male = 5.6% and female 3%) and the United States of America (male = 3.8% and female = 1.3%).
  • Male and Female shares in NFT ownership by countries: Philippines (5% and 2.4%), Indonesia (4.9% and 2.9%), Singapore (5.6% and 3.6%), Ghana (4.7% and 2.8%), Ireland (3.6% and 1.7%), Argentina (3.1% and 1.4%), Australia (3% and 1.4%), Malaysia (3.8% and 2.2%), Sweden (2.4% and 0.8%), Norway (2.5% and 1%), South Africa (2.7% and 1.3%), Hong Kong (6.1% and 4.7%), Brazil (4.6% and 3.5%), Kenya (4.1% and 2.8%), United Kingdom (2.2% and 0.9%), Vietnam (6.4% and 5.2%), Venezuela (3.2% and 2.2%), Germany (1.6% and 0.7%), New Zealand (2.1% and 1.1%), Canada (1.9% and 1.1%), Colombia (2.8% ans 2%), Mexico (2.3% and 2%), and Japan (1.5% and 1.6%).

By Age Group

  • As per NFT Statistics, based on ownership share, Singapore secures the highest percentage of NFT ownership among 55+ years with a share of 9%, followed by 35 to 54 years (4%) and 18 to 34 years (9%).
  • Japan has the lowest NFT ownership share based on age group: 55+ (2%), 35 to 54 (2%), and 18 to 34 (2%).

Other Countries Share NFT Share by Age Disparities are described Below

Country 55 years and above 35 to 54 years 18 to 34 years
United States 2% 3% 5%
Brazil 3% 4% 5%
India 5% 7% 8%
Nigeria 3% 4% 5%
Philippines 2% 3% 5%
Brazil 3% 4% 5%
Ireland 2% 2% 5%
Vietnam 11% 6% 5%
Hong Kong 5% 6% 5%
Ghana 9% 3% 4%
Indonesia 4% 3% 5%
Argentina 1% 2% 3%
Malaysia 2% 3% 4%
Kenya 5% 3% 4%
Australia 3% 3% 4%
Norway 2% 2% 3%
Mexico 1% 2% 3%
Colombia 2% 2% 3%
Sweden 1% 2% 3%
Venezuela 2% 3% 3%
United Kingdom 2% 2% 3%
South Africa 2% 2% 3%
Canada 2% 2% 3%
New Zealand 2% 1% 3%
Germany 1% 1% 2%

(Source: doit.software)

NFT Country Statistics by Website Traffic

nft.com-Web-Traffic-by-Country

(Source: similarweb.com)

  • In April 2024, the United States of America had 11.8% of the total traffic on nft.com, but it recorded an increase of 78.2% in total website visitors.
  • The other countries that recorded total traffic and visitors share contribution are Cambodia = 3.7%, Turkey = 3.44% (+56.56%), India 2.79% (-16.87%), and Nigeria = 2.61% (+36.03%)
  • Meanwhile, the rest of the countries collectively made a total website traffic share of 75.66%.

Top Expensive NFT Statistics

  • As of April 2024, ‘The Merge’ is the most expensive NFT ever sold across the world, with $91.9 million.
  • The second and third most expensive sold-out NFTs are Everyday: The First 5000 Days ($69 million) and Clock ($52 million), individually.
  • In contrast, other sold-out NFTs are Human One ($28 million), CryptoPunk #5822 ($23 million), CryptoPunk #3100 ($16 million), CryptoPunk #7523 ($11 million), TPunk #3442 ($10 million), CryptoPunk #4156 ($10 million), and CryptoPunk # 5577 ($7 Million).

Search Interest Statistics by Nation

  • In recent years, the maximum interest in NFT has been observed in China, which holds a share of 100%, followed by Singapore (74%).
  • Other countries with a high search interest in NFT are Venezuela (67%), Hong Kong SAR (56%), the Philippines (49%), South Korea (46%), Malta (43%), Cyprus (40%), Australia (39%), and Canada (39%).

Who’s Involved?

  • The NFT market is still young, and the user base is growing. While it’s a niche market currently, representing a fraction of a percent of global internet users [Statista], it’s expected to expand in the coming years.
  • Interestingly, despite the recent slowdown, some data suggests that core users remain engaged. The number of unique buyers and sellers hasn’t seen a significant drop [NonFungible.com]. This could indicate that a more dedicated user base is emerging.

Beyond the Hype

  • NFTs aren’t just about expensive digital art or bragging rights. The technology has the potential to revolutionize various industries.
  • For example, NFTs can be used to represent ownership of physical assets like real estate or artwork, offering a more secure and transparent way to manage ownership records.
  • Additionally, NFTs are being explored in the ticketing and event management space, offering benefits like preventing ticket fraud and even allowing for ticket resale with built-in royalties for creators.

Challenges and Considerations

  • The NFT market is still evolving, and there are challenges to address.
  • Environmental concerns exist due to the energy consumption of some blockchains used for NFTs. Developers are working on solutions for more sustainable NFT ecosystems.
  • Additionally, the market can be quite speculative, with prices fluctuating significantly. Potential buyers need to understand the risks involved before investing in NFTs.

Conclusion

Overall, the NFT market is a fascinating space with immense potential. While it’s undergone some adjustments recently, the underlying technology offers exciting possibilities for the future of digital ownership and interaction. Hopefully, the above analyses will help you understand all recent developments in the NFT market.

FAQ.

How is NFT used in real life?

Non-fungible tokens (NFT) allow the signing of digital ownership of unique items by using blockchain technology.

Is it safe to use NFT?

Yes, it is generally safe if an NFT is purchased from a reputable marketplace.

What are the disadvantages of NFT?

The main risks of NFT include money laundering, fraud, and counterfeiting.

Who invented NFTs?

In 2014, the first NFT was Quantum, which Kevin McCoy coined.

Rohan Jambhale
Rohan Jambhale

Rohan is a senior editor at Sci-Tech Today with extensive knowledge of digital marketing, SEO, and social media optimization (SMO). He is skilled at creating and editing detailed articles filled with accurate statistics that readers find valuable. As a senior editor, Rohan carefully reviews and quality-checks content from multiple writers before it is published. Additionally, he creates infographics to accompany the statistics, making the information easier to understand and more engaging for readers. Rohan's dedication ensures that Sci-Tech Today delivers high-quality and informative content to its audience.

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