Introduction

In 2021 the popularity of NFTs exploded and the adoption of NFTs rapidly grew. In the 2022 bear market, the NFT market continues showing signs that it is alive.

This dashboard looks at the month of May and June and attempts to understand if the Algorand NFT scene is onboarding new wallets.

Definitions

In this dashboard we focus on wallets that have >1 ALGO.

We group the wallets into two two different groups: all wallets >1 ALGO (old wallets + new wallets) and wallets created in May and June with >1 ALGO (new wallets).

We also group them into sub group of wallets holding arc69 NFTs or not.

Analysis

What percent of each of new and old wallets groups hold an NFT?

We can see that 4,2% of new wallets hold NFT, however, only 2,7% of old wallets hold NFT.

How many (what percent) of wallets that have >1 ALGO were created in May/June 2022?

The graph below shows that almost 5% of wallets that have >1 ALGO have been created since 2022-05-01.

How many wallets received an NFT in May compared to April?

We can see that less wallets received NFT in May compared to April.

For wallets that were created in May/June and received an NFT- what is the distribution of these wallets balances?

The graph below shows the distribution of new wallets balances those that received at least one NFT.

For wallets that were NOT created in May/June and received an NFT in May/June- what is the distribution of these wallets balances?

Comparing these two distribution charts reveals that the new NFT holders have overall smaller balances that old NFT holders.

How many of the new wallets in May/June that received an NFT, received more than 1 NFT

In total 1396 new wallets received more than 1 NFT in May/June.

Conclusion

There are (at the time of writing) 46518 wallets that have been created since May 1st and hold more than 1 ALGO. These wallets are about 5% of all wallets holding more than 1 ALGO.

About 4,2% of these wallets hold NFT as well. This percentage is lower when it comes to older wallets.

The new NFT holders are smaller than the old NFT holders in terms of ALGO balance.

All these facts and statistics show that NFT adoption drive people to create wallets on Algorand.