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A retrospective on the NFT market in 2022.

NFT project with the highest volume of trades in 2022?

Which NFT project had the largest mint by dollar?
Which NFT project decreased the most in value this year?
Which NFT project gained the most value this year?
What was the price of the highest-selling individual NFT?
Which NFTs had the longest hold time this year?
Which NFT project had the least amount of NFTs listed for sale on an exchange?
Which project had the most NFTs listed for sale on an exchange?

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What is NFT?

A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.[1] The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create.[2] NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable assets, they differ from cryptocurrencies, which are fungible.

Proponents of NFTs claim that NFTs provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. The ownership of an NFT as defined by the blockchain has no inherent legal meaning and does not necessarily grant copyright, intellectual property rights, or other legal rights over its associated digital file. An NFT does not restrict the sharing or copying of its associated digital file and does not prevent the creation of NFTs that reference identical files.

The NFT market grew dramatically from 2020 to 2021: the trading of NFTs in 2021 increased to more than $17 billion, up by 21,000% over 2020's total of $82 million.[3] NFTs have been used as speculative investments and they have drawn increasing criticism for the energy cost and carbon footprint associated with validating blockchain transactions as well as their frequent use in art scams.[4] The NFT market has also been compared to an economic bubble or a Ponzi scheme.[5] In 2022, the NFT market suffered a major collapse, with prices sharply falling; a May 2022 estimate was that the number of sales was down over 90% compared to its 2021 peak.[6]

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In this section, we check annually what has changed in the minting and sales of nfts. As you can see, Mint NFTs started in 2016 and their volume was very small. In 2021, the amount of Mint NFTs reached 17B dollars, which was the largest volume of Mint NFTs in these years. But the number of NFT mints has reached its highest value in 2022, equal to 28.5 million mints.

The largest volume and number of NFT sales was recorded in 2022, which was equivalent to 50.9 billion dollars.

In this pie chart, we have shown how the distribution of sold NFTs was based on price. 42% and the highest percentage of sales were related to tokens with a price of 100-1000 dollars. 41% related to NFTs that were less than $100.

In this section, we have examined in detail the number of transactions, the number of users, tokens and NFT projects in 2022 in two situations, mint and sale.

The number of all these parameters in minting has been more than selling NFT. For example, 19m users have sold their NFTs and 28.5m users have minted them.

But the overall volume and average sales have been higher than the volume of minting. Therefore, it is true that the number of users and minting transactions was higher, but the sales volume was higher than minting volume.

This shows that most of the users were willing to mint.

You can also see the percentage of the number of projects and tokens sold compared to Mint. which shows that there are more mined projects than sold projects and tokens.

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In this section, in terms of the number of transactions, the volume of transactions and the number of projects, we have reviewed the changes in sales and mint in 2022 on a monthly basis.

/You can see that the number of sales transactions has almost decreased and was the highest in January. The number of minting transactions increased from May to September.

/The number of projects has been increasing The average volume of sales has been decreasing and has reached from 6,470 dollars in January to 550 dollars in December.

/The number of active users for minting is almost constant and reached its highest value in September, equal to 779k But the number of NFT sales users has been declining. Around 300k

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Here to check the number of transactions, tokens, projects and users.

/We pay in different marketplaces, as you can see, the number of transactions, tokens, projects, and users in opensea marketplace is more than other marketplaces in 2022. 91% of trades are related to opensea marketplace, and 5% to x2y2 marketplace. looksrare is in third place with 1.65%.

But in terms of volume of transactions, the situation is different. 52% of the volume of transactions was in looksrare, 38% in opensea and 7.5% in x2y2.

In this section, we will examine NFT minting projects in more detail and the top 10 NFT collections have been analyzed in terms of various parameters.

/You can see that the position nft collection from uniswap has the largest mint volume. And in this collection, tokens #179583 and #180044 had the largest volume of mint.

In terms of average mint volume, curve synthswap collection was the best collection.

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In this section, we will examine sale NFT projects in more detail and the top 10 NFT collections have been analyzed in terms of various parameters.

/You can see that the terraform collection is the first one in total sale volume. and Meebites is the first one in the largest sale volume. And in this collection, tokens #13824 and #9711 had the largest volume of sales.

In terms of average sales volume, fantasy island collection was the in the fisrt place.

If we want to know which were the top NFT sets that were minted or sold in each month, we /can see that in all months the NFTs of the uniswap v3 collection were minted and it has a high volume of mintings. But in terms of the volume of sale, the collection of mutantapeyacht club has been noticed in most months .

/You can also see the most expensive collections that have been sold in each month. The moreloot and terraform collections were the two most expensive collections that were sold in most months.

We have also analyzed the sold nft collections based on the price in the pie chart. Almost 27% of them were sold between 100-1000 dollars, and in the next stage, 24% were sold for 1000-10000 dollars.

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But perhaps the most interesting part here is to know which collections have eaten the most profit and the most loss in the last year.

/The highest percentage of profit belongs to moreloot collection and gates of oxya and the collection that had the most profit based on usd, the dreadfulz collection And in the next rank was moreloot collection.

The biggest loss based on usd was terraform set with 243k and meebite set with 225k usd.

Regarding the price drop of the collections, we must say that 52% of the projects have had a price drop 23% of them have had a price reduction between 75-100%.

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In these charts, you can see the holding time of NFTs and projects. The average holding time of NFTs was 15.7 days. The holding time of 60% of the projects was less than 1 week.

24% of the projects are held between 1 week and a month. Metabad donut collection And portals have had the longest holding time of 360, 348 days.

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If we want to have a more detailed look, more tokens from the Ens collection have been sold, which is equal to 218k. Also, the tokens sold from most collections (26%) were between 2-10 tokens.

If we want to analyze the performance of NFT collections and check the ratio of sales to mint, we can see that the crypto cloud punk collection had the highest sales compared to mint and the phantom network collection had the lowest sales compared to mint.

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Methodology

> Happy New Year, > > We hope this year will be a profitable year for flipside’s team.

In this article, we aim to examine the performance of nfts in 2022. We have done our analysis to answer the bounty question in several sections and topics, which is as follows:

Annual and monthly performance of NFTs in mint and sales in terms of number of transactions, users, tokens and projects
Comparison of different marketplaces in 2022 in terms of number of transactions, tokens, users and projects
Top 10 collections with the highest mint volume, average and median mint volume Top 10 collections with the highest sales volume, average and median sales volume
3 collections with the largest volume of mints and sales per month
3 expensive collections per month
Top 10 collections with the best profit and loss
The amount of token price drop
Average holding time of NFT
Collections with the most token sales
Collections with the highest and lowest ratio of sales to mint