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20+ NFT Stats in 2024: Market Size, Companies, Users, & More

Updated on Jan 3
2 min read
Written by
Cem Dilmegani
Cem Dilmegani
Cem Dilmegani

Cem is the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per Similarweb) including 60% of Fortune 500 every month.

Cem's work focuses on how enterprises can leverage new technologies in AI, automation, cybersecurity(including network security, application security), data collection including web data collection and process intelligence.

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NFT became the word of the year in the Collins dictionary in 2021. NFTs have attracted the interest of various parties from different sectors. Even though the initial hype in the NFT market has blown off, we expect them to stay around due to their use cases in both the virtual and the real worlds. 

In this article, we have provided you with different statistics related to NFTs from reputable sources. 

NFT Market

Market size and overview 

  1. NFT traded volume (excluding wash trades) in 2022 Q1 was $7.87 billion, marking a %4.6 decline compared to 2021 Q4. (Non-Fungible
  2. The NFT market grew by more than %21,000 in 2021. (Non-Fungible
  3. NFT dollar sales volume reached more than $17 billion in 2021. (Non-Fungible)
  4. 50% of the transactional value is owned by 2% of collectors. (PwC)
  5. OpenSea is the largest NFT marketplace. (DappRadar)
  6. Most NFTs are created on the Ethereum blockchain. (Crypto Slam
  7. Solana blockchain has become the 2nd most used blockchain for NFT trading. (The block

Figure 1. NFT Trade volume by chain 

NFT trade volume by chain
Source: The Block

Market Segment based on NFT types

  1. NFTs can be segmented based on their function. The most sought-after NFTs are collectibles. 

Figure 2. NFT trade volume by segment 

NFT segmentation based on type
Source : Non-Fungible

Top NFT Sales 

  1. The Merge NFT sold for $91.8 million, making it the most expensive NFT sold. (Barrons)
  2. The Doge meme NFT sold for $4.1 million in November 2021 making it the most expensive meme NFT. (NBC News)
  3. The first real-estate NFT was sold for a house in Ukraine for $93,000. (Propy)

NFT Companies 

Funding

  1. NFT companies raised $7.4B in 2022 Q1 from venture capitals. (PitchBook)
  2. Most of the VCs funds in the NFT market have gone to the gaming segment in 2022 Q1. (PitchBook)
  3. 14% of all fundraising deals in the crypto area went to the NFT sector. (PwC)

Figure 3. Fund raised by NFT companies in Q1 2022.

NFTs fund raised from VCs
Source: PitchBook

Unicorns

  1. OpenSea, the biggest NFT marketplace, valued at $13.5 billion. (The New York Times)
  2. Sorare, an NFT-based fantasy sports game, valued at $4.3 billion. ( Sifted
  3. Dapper lab, maker of NBA Top Shot NFTs, valued at $7.6 billion. (CNBC)
  4. Sky Mavis, the creator of the NFT-based digital game Axie Infinity,  valued at nearly $3 Billion. (VentureBeat)
  5. Magic Eden, a Solana-based NFT marketplace, valued at $1.6 billion. (Bloomberg)
CompanyLatest fundraising date*IndustryType of fundraising*ValuationHQ location*Lead Investors*
OpenSea04/01/2022NFT MarketplaceSeries C$13.3BUSA Paradigm & Coatue
Dapper Lab
21/09/2021Sports NFTs collectibles Series D$7.6BCanada Coatue
Sorare20/09/2021Fantasy sportSeries B$4.3BFranceSoftbank
Sky Mavis05/10/2021P2E gameSeries B$3.0BSingapore A16z
Magic Eden21/06/2022NFT MarketplaceSeries B$1.6BUSAGreylock & Electric Capital

* Source: Crunchbase

NFT users Segmentation 

Geographical breakdown 

  1. Search Interest in NFTs based on countries and territories are as follows:( from 0 to 100 scale, 100 is the location with the most popularity as a share of total searches, and 0 means that there was not enough data.) 
Country/RegionDec 2021
Jan 2022Feb 2022Mar 2022Apr 2022Ma 2022

Hong Kong SAR
56859096100100
Singapore74981001009894
China100100082828383
Taiwan234254545961
Philippines495955555655
Lebanon284145485151
United Arab Emirates344248515150
Venezuela676254535249
South Korea465246475049
Nigeria283035384749
Cyprus4051049048
Canada395956545147
Australia395551514945

Source: Statista

Demographic breakdown

  1. Millennials are more likely to collect NFTs compared to other age groups. (Morning Consult)
  2. Men are more likely to collect NFTs compared to women. (Morning Consult)
  1. 29% of all adults are interested in investing or holding NFTs. (Morning Consult)

Figure4. Age and gender breakdown of NFT enthusiasts.

Demographic breakdown of NFT collectors
Source: (Morning Consult)

Frauds and Hacks

  1. Frosties NFTs creator pulled a rug pull scam and took $1.1 million from users. (Business Insider)
  2. Hackers stole $1.7 million worth of NFTs from OpenSea users. (Business Insider)

Further reading 

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Cem Dilmegani
Principal Analyst
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Cem Dilmegani
Principal Analyst

Cem is the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per Similarweb) including 60% of Fortune 500 every month.

Cem's work focuses on how enterprises can leverage new technologies in AI, automation, cybersecurity(including network security, application security), data collection including web data collection and process intelligence.

Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.

Cem's hands-on enterprise software experience contributes to the insights that he generates. He oversees AIMultiple benchmarks in dynamic application security testing (DAST), data loss prevention (DLP), email marketing and web data collection. Other AIMultiple industry analysts and tech team support Cem in designing, running and evaluating benchmarks.

Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.

He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.

Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.

Sources:

AIMultiple.com Traffic Analytics, Ranking & Audience, Similarweb.
Why Microsoft, IBM, and Google Are Ramping up Efforts on AI Ethics, Business Insider.
Microsoft invests $1 billion in OpenAI to pursue artificial intelligence that’s smarter than we are, Washington Post.
Data management barriers to AI success, Deloitte.
Empowering AI Leadership: AI C-Suite Toolkit, World Economic Forum.
Science, Research and Innovation Performance of the EU, European Commission.
Public-sector digitization: The trillion-dollar challenge, McKinsey & Company.
Hypatos gets $11.8M for a deep learning approach to document processing, TechCrunch.
We got an exclusive look at the pitch deck AI startup Hypatos used to raise $11 million, Business Insider.

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