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The Cardano NFT sector is hitting some interesting milestones, as a recent statistics report illustrates.
Cardano remains one of the most promising blockchain projects in the crypto ecosystem. Since its inception, the network has recorded massive growth in adoption rate. A recent statistics report on its non-fungible token (NFT) sector highlights the intriguing heights the network has reached.
Cardano Daily – an unofficial community-driven Cardano Twitter handle – disclosed the information Thursday. “Yesterday, we have got an overview of the NFT landscape of the @Cardano ecosystem. Let’s take a glance at some outstanding statistics of this potential sector,” the handle said in a tweet.
CARDANO NFT STATISTICS
Yesterday, we have got an overview of the NFT landscape of the @Cardano ecosystem. Let’s take a glance at some outstanding statistics of this potential sector.
#cardano #nft #statistic pic.twitter.com/x9kWyZVxKm— Cardano Daily (@cardano_daily) September 8, 2022
A screenshot attached to the tweet outlined the status of the Cardano NFT ecosystem. Per data from the screenshot, there are almost 7,000 NFT projects and 15 marketplaces on the Cardano network. Hosting nearly 7,000 NFTs is a commendable feat from Cardano and underscores the increasing rate of the chain’s adoption.
The 15 NFT marketplaces have contributed an all-time trading volume of approximately $450M to the Cardano ecosystem. Also, considering stats from the top 100 NFT collections on Cardano, the valuation of the NFT sector lies between $300M and $616M.
JpegstoreNFT stands out as the largest marketplace by trade volume in the Cardano ecosystem. The marketplace contributes a whopping 64.19% of the entire trade volume in the sector. CNFT reserves the second position with a contribution of 28.09% of the trade volume. Spacebudz contributes 4.51%, and the other 3.21% contribution comes from other marketplaces.
Additionally, regarding the NFT collections in terms of volume, Spacebudz makes the most contribution from a single collection, with a 7.90% market share. Pavia contributes 6.72%, and Clay Nation makes a 5.78% contribution. 66% of the volume is shared amongst other NFT collections, marking a decrease in monopoly.
Launched in 2017 by the co-founder of Ethereum, Charles Hoskinson, Cardano has witnessed massive growth since its inception. Often touted as one of the “Ethereum Killers,” the blockchain seeks to proffer high scalability and low fees for the cryptocurrency community.
The Cardano team seeks to improve the network even further with the soon-to-be Vasil Hard Fork upgrade. Despite previous delays, the Vasil upgrade is still promised, as the team has slated it for September 22. Most of the prerequisites for the update are being reached, and the community remains hyped for its advent.