BlocksInform
Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value.
A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million — a 67.57% increase from the previous year.
According to the report, the ethereum ecosystem ranks first in the nft ecosystem, holding 21% of the market share and more than 21.2 million transactions handled. Wax ($14.5 million), polygon ($13.3 million) and solane ($12.9 million) followed.
Solana and immutablex ecosystems have experienced massive growth over the previous year in transactional activity, with an increase of 440% and 315%, respectively.
The data also shows no change in the nbp ecosystem, with approximately 1 million transactions in 2021 and 2022.
The dominant dapp category on various channels also changed last year. In 2021, decentralized finance (challenge) applications dominated all of the 13 channels used in the report, with the exception of two.
However, this year's major shift to high-risk gaming and video games and NFT has levelled the playing field.
Related: Opinion: NFTs have a brighter future on Instagram than on Twitter
Additionally, the report highlighted Ethereum and Cardano as the blockchains with the most active developers working on-chain, with 223 and 151 active protocols, respectively.
While modular blockchains, like polkadot and cosmos, saw their business as a network developer grow by 16% and 131.7%.
The importance of NFT in the web3 space also became prevalent in the dominant culture last year. From continued adoption by legacy institutions like the NBA to Amazon making a documentary series about NFTs and those who collect them.
At the end of the year last year, China announced its first national NFT marketplace to serve as a ??A secondary market for digital asset exchange.
