Despite degradation in the interest in NFTs (Nonfungible tokens), trade volume is increasing rapidly.
NFTs concept entered the Crypto Industry in 2017 but started to grab huge traction in 2020. In the very starting majority of people claimed that the NFTs concept will sustain its trend for the short term only because it is only helpful to sell the digital artworks in the form of pictures or music like things but later this concept emerged as a real-life use case-based Idea to solve many issues of the traditional system of properties verification.
According to the data available at IntoTheBlock, the aggregate value of volume traded in NFTs reached 18 million ETH, which is worth $54 billion.
So at this end, total NFTs trade value surged by 222.2% over last year. From $16.94 billion trade value to $54.58 billion, changed from 1 January to 17 April.
Earlier this, IntoTheBlock analyzed NFTs collectibles holdings, in terms of adoption among the Ethereum addresses holders. On 13 April, data shared by this platform noted that the adoption curve of NFTs was just starting,” with only 4.5% of ETH addresses with a balance being holders of NFTs.
No doubt that such data reports are proof that NFTs trade volume surging but in reality the unique user’s adoption rate is very slow for NFTs also Google trends shows that people are not much interested in NFTs related projects, and also they are no more interested in Metaverse like projects but they are showing some significant interest in Web3 like projects.