Over 900,000 ETH spent on minting: NFTs are not dead according to Nansen

In good health – A new study reveals figures on the total amount spent on the minting of NCT. in the first half of the year, and related details.

Those billions in the NFT coinage

The million marks is not far off. The first six months of this year were marked by the collapse of the TerraUSD, followed by the cryptocurrency companies that drank the cup, and 963,227 ethersworth approximately $ 2.7 billion, spent on NFT minting.

These numbers on the NFT coinage come from the results of the new study published by blockchain data company Nansen.

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Extreme values, uneven distribution

OpenSea is aminted ogre during these first six months. Most of the ticks took place on the NFT market.

The blockchain promises decentralization, but the sector remains dominated by few projects. The NFT collections that are in the top 5, with Pixelmon – Generation 1 in the lead, have thus accumulated 81,364 ETH, or approximately 10.3% of the total ether collected by all the projects in the sector.

The first half also saw the deployment of 28,986 NFT collections, which “collectively raised 833,641 ETH”. 51.6% of these collections, however, coined their own NFTs for free. On average, the projects raised 59.4 ETH, for an average amount of 1.43 ETH.

Mint NFT in excellent shape?

Nansen’s study also reveals the names of the blockchains that contributed most to the minting, based on the number of unique wallet addresses involved in the minting or generation of NFTs.

Out of a total of 263,800 unique addresses participating in the coinage, Ethereum takes first place with 1,088,888 addresses interested, compared to 198,149 on BNB Chain, 65,728 on Avalanche and 11,807 on Arbitrum.

Looking at these numbers, Louisa Choe, a research analyst at Nansen, concludes that the NFT mining industry is doing relatively well. The crypto winter will therefore have only it does not affect the whole industry blockchain and cryptocurrencies.

This Nansen study combined with the evaluation developed by NonFungible.com on the market allow you to have different readings on the trend of the sector, in this bearish context for the cryptocurrency markets. An analysis from multiple angles is necessary to understand all the nuances. Encouraging data on coinage contrast, for example, with the sharp decline in transaction volumes.

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