NFT: user count 2020-2022

The number in active wallets involved in NFT trading activity declined by more than 17 percent between Q3 2022 and Q2 2022. This is notable decline from the end of 2021 - when the number of users was estimated at nearly two million. NFT trading surged on various moments. The first moment, in 2017, was connected to the popularity of collectible CryptoKitties whereas the second moment, in March 2021, had to do with media reporting the largest NFT sales to date. Activity in August 2021 was likely caused by sales in Axie Infinity, an NFT game that got so popular in Southeast Asia it even attracted the attention of the Philippine government.

Number of unique wallets that either bought or sold an NFT asset worldwide from 1st quarter of 2020 to 3rd quarter of 2022

Characteristic	Number of unique wallets
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Release date

October 2022

More information

Region

Worldwide

Survey time period

Q1 2020 to Q3 2022

Special properties

The source does not clarify on what moving average the figures were

Supplementary notes

The source does not separate between buyers and sellers. Therefore, it is not possible to distinguish between the two.

The source adds the following: "Number of wallets that have interacted with an NFT smart contract, the same person can have several wallets. These active wallets are not solely buyers and sellers but anyone who has played a game or interacted with a project using NFT. There are most likely more wallets than NFT users / owners, but the trend remains significant."

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