Retail buyers made up more than 80% of NFT transactions in 2021: Chainalysis - Aliens: AI Crypto News & Markets Updates

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Retail buyers made up more than 80% of NFT transactions in 2021: Chainalysis

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CoinTelegraph

Tue, Dec 07, 2021

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More than 80% of all nonfungible token (NFT) transactions were worth less than $10,000 in 2021 according to Chainalysis which categorized them as "retail" in recent research.

While retail transactions accounted for more than 80% of all NFT transactions on any given day in 2021, collector-sized transactions rose from 6% in March to 19% by Oct. 31 indicating an increase in larger collectors as the year progressed.

Collector-sized transactions made up 63% of the volume and institution-sized transactions made up 26%, meaning retail transfers came to 11% of the volume for the time period studied.

The researchers contrasted the NFT market with the wider cryptocurrency market, where retail transactions make up a far smaller proportion of the total transactions.

“The data shows that the NFT market is far more retail-driven than the traditional cryptocurrency market, where retail transactions make up a negligible share of all transaction volume.” The earning potential associated with NFTs was among several factors that drove cryptocurrency adoption through 2021.

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