Nansen, one of many business’s main blockchain knowledge and analytics platforms, launched a report Tuesday detailing the stream of Ethereum raised by NFT mints in 2022.

The “NFT Sales: Where did the ETH go?” report builds on Nansen’s 2021 study, which revealed that almost all funds raised by NFT mints “were moved into non-entity wallets.”

“NFT creators are now retaining funds and reinvesting them back into the ecosystem, pointing to a shift towards becoming more mature and conscientious builders.”

Nansen reviewed collections with gross sales quantity above 20 ETH throughout the first six months of 2022. In its evaluation, the info signifies a “maturing NFT market.”

Report Highlights

  •  963,227 ETH was raised from Ethereum NFT minting.
  • 488,356 ETH retained by NFT tasks (50.7%),
  • 440,194 ETH raised distributed to “non-entity wallets” (45.7%)
  • ETH despatched to “non-entity wallets” declined by 6.6%
  • 28,986 NFT tasks launched on the Ethereum blockchain
  • 140 NFT collections raised over 1,000 ETH
  • The common ETH raised per undertaking was 59.4 ETH
  • The prime 5 NFT collections raised 10% of complete ETH throughout NFT tasks (81,354 ETH)
nansen nft report
Source: Nansen

Among the NFT collections analyzed, the bulk provided free mints displaying a rising pattern at no cost mint tasks in 2022. Only 343 collections launched with mints costing over 500 ETH.

mint types
Source: Nansen

Louisa Choe, a Research Analyst at Nansen, commented,

“the minting sector of the NFT market remains healthy with the rise in average mints per unique wallet address… on-chain evidence of NFT collections reinvesting primary sales revenue into NFT demonstrates that builders… making decisions that will support that growth.”

Supporting this thesis, of all of the funds raised from tasks lined in the report, solely 0.3% of funds had been despatched to exchanges. However, one limitation was recognized in the report, provided that the analysis doesn’t cowl onward transactions from the receiving wallets.

The report particulars Moonbird, Pixelmon, VeeFriends, World of Woman Galaxy, and Genesis Box disclosing tagged wallets which have interacted with the highest NFT collections.

The full report might be discovered on Nansen’s website.

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