Non-fungible tokens (NFTs) minting and trading on the Ethereum platform were hugely profitable ventures in 2022. The two activities generated a total of $23.7 billion, according to data presented by CryptoMonday.de. This staggering figure indicates that NFTs have maintained their value since they first appeared in 2020.
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This was quite a substantial amount for the year, especially considering that the crypto market was bearish throughout this period. The spike in profit was most prominent between January and May when NFT minting and trading peaked.
CryptoMonday’s CEO, Jonathan Merry, has attributed these impressive returns to the carry-on effect of the 2021 bullish run in the cryptosphere. He explained:”Ethereum, the base currency for these NFTs, was on a tear in 2021, attaining its ATH in November of that year. Its incredible run through the year provided the traction that sustained the NFT market up to mid-2022 despite the bearish trends beginning to emerge then.” The full story and statistics can be found here: NFT Mints and Trades On Ethereum Netted $23.7B in 2022