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.
This is a 67.57% increase from the previous year.According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions processed.
It is followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million). Both the Solana and Immutable X ecosystems saw massive growth from the previous year in terms of transaction activity, with a 440% and 315% increase, respectively.
Meanwhile, the data shows no change in the BNB ecosystem, with roughly 1 million transactions for both 2021 and 2022. The dominant category of DApps on various chains has also shifted in the last year.Read more on cointelegraph.com