In Q1 2023, the general statistics of the NFT market increased strongly compared to Q4 2022, consolidating the strength of an industry that until a few months ago had been given up for dead.
Let’s take a look at what the main drivers of this growth were and which NFT collections had the highest volumes.
All the details below.
Market statistics: NFT volumes growing strongly
In Q1 2023, we saw an increase in NFT sales volumes compared to Q4 2022, confirming that the non-fungible token market is more vibrant than ever.
The data shows an increase in both ETH and USD volumes: specifically, in the last months of 2022, there were sales of more than 9 million NFTs, equivalent to 1,525,471 ETH or approximately $1.97 billion, while in the first three months of 2023, sales were just under 11.5 million with a volume of 2,839,354 ETH or $4.54 billion.
The number of users also increased from 11.23 million in Q4 to 14 million in Q1, indicating not only that the collections are more popular, but also that public interest in this market has increased.
The main reason for this growth seems…