Global NFT Trading Volume Surges 200 Percent In 2022

The public is becoming more aware of the existence of non-fungible tokens (NFTs) and the Metaverse due to celebrities and brands' involvement. As a result, NFTs trading is witnessing a steady increase.

According to the data from IntoTheBlock, the total volume traded in NFTs has recently exceeded 18 million ETH or $54 billion in aggregate value.

The year-to-date chart of IntoTheBlock shows that the global trading volume of NFTs grew from $16.94 billion on January 1, 2022, to $54.58 billion on April 17, which is an increase of 222.2% since the year’s turn.

On 13th April, the platform shared another chart that indicated the NFT adoption curve was actually “just starting,” with only 4.5% of ETH addresses with a balance being holders of NFTs.

The percentage is recording a slow yet stable increase over time, and on April 17, it stood at 4.64%, as per IntoTheBlock data.
The Crypto community also strongly supports the future scope of NFTs, including Gate.io’s chief marketing officer (CMO) Marie Tatibouet.

At the Paris Blockchain Summit, Tatibouet said that she agreed with Shark Tank’s Kevin O’Leary in his view that NFTs could outperform Bitcoin (BTC) in terms of market capitalization.

“Absolutely. I think 100% because the NFT market can be so many different things and I really do think for example all of the art pieces will have NFTs or fractionalized NFTs as well associated with them every single piece of art for short not now but 10 years from now I’m almost certain.”

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.