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Despite the crypto bear market in 2022, there wasn’t a significant decline in NFT adoption, according to the report. Crypto data website CoinGecko has released survey findings indicating that the majority of nonfungible token (NFT) holders own 51 or more NFTs, while those who only hold a single NFT comprised the smallest group among the respondents. Published on April 6, the CoinGecko report examined 438 responses from Dec. 2022 to Jan. 2023 in conjunction with Blockchain Research Labs. At least 1 in 4 NFT holders (26.5%) said that they are “avid collectors” with 51 or more NFTs at the time of the survey, with the report noting this group likely represents people who are the most enthusiastic about NFTs. It noted: “This suggests that people rarely stop participating in NFTs after their first one.” It was closely followed by holders holding between 2 and 5 NFTs (17.6%), while those who held just one NFT accounted for a mere 4.8%. Source: coingecko.com Almost 4 out of every 10 people su...

A recent report from DappRadar revealed that over the last year, NFT and gaming-centered decentralized applications rivaled DeFi DApps on many major blockchains. Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value. A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million. This is a 67.57% increase from the previous year. According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions processed. It is followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million). Both the Solana and Immutable X ecosystems saw massive growth from the previous year in terms of transaction activity, with a 440% and 315% increase, respectively....