Report Reveals $2.7B Injected into Minting NFTs in Six Months

August 8, 2022 11:05:00

NFTs first hit the mainstream in May 2014 when a digital artist Kevin McCoy minted a nonfungible token called Quantum on the Namecoin blockchain. Last year proved to be a great year for NFTs, thanks to an explosive surge in popularity that led to an increase in NFT supply as well as demand. Now market research from blockchain data company Nansen has revealed that for the first half of 2022, cryptocurrency users spent 963,227 Ether ($2.7 billion) minting NFTs on Ethereum’s blockchain.

The research showed that the minting happened from 1.088 million wallet addresses hosted on Ethereum’s blockchain, with most of this minting occurring at Half of the Ethereum cryptocurrency that was raised from Jan. 1, 2022, through June 30, 2022, remained with the…

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