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NFT adoption remains strong among avid collectors

Despite the decline in the cryptocurrency market in 2022, the adoption of non-fungible tokens did not decline significantly, according to a recent report.

The majority of NFT holders own 51 or more NFTs, according to the survey results published by the crypto data website CoinGecko and Blockchain Research Labs. The respondents who only possess a solitary NFT constituted the smallest group.

Report shows resilience of NFT market

The 6 April report analyzed 438 responses collected between December 2022 and January 2023. At the time of the survey, 26.5% of NFT holders identified themselves as “avid collectors” and owned 51 or more NFTs.

This group presumably consists of those who are most enthusiastic about NFTs, suggesting that people rarely stop participating in NFTs after making their first purchase.

The next largest group of NFT holders, comprising 17.6%, held between two and five NFTs, while the smallest group, comprising 4.8%, held only one NFT.

Nearly 39% of respondents acquired their first NFT during the first bull market of 2021, according to the survey.

Interestingly, despite the cryptocurrency market experiencing a bear market in 2022, the year still saw the second-highest influx of new NFT collectors over the previous five years, with slightly more than 25 percent acquiring their first NFT.

The report also indicates that the development of NFTs could speed up adoption in 2023.

It mentioned Bitcoin Ordinals and Stamps as well as Blur surpassing OpenSea as the leading NFT marketplace.

On April 5, OpenSea debuted OpenSea Pro, an NFT marketplace aggregator designed to meet the requirements of professional users. OpenSea acquired an NFT aggregator in April 2022, and the platform is a refined variant of this asset.

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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