Wallet Activity With Regards to Algorand NFTs.
Algorand NFTs
How Many Active Wallets Are Buying/Selling/Transferring NFTs Monthly?
The first metric to look at is active wallets trading in NFTs on the Algorand blockchain. An active wallet is any wallet on Algorand that has not been closed, and an active wallet cannot make transactions. In the chart below, observe the number of wallets trading NFTs monthly on Algorand.
What’s The Number of Total Wallets That Have Minted NFTs and Put Them Up For Sale, Month Over Month and Cumulatively?
Next, we want to know the number of wallets minting and putting up for sale month over month and cumulatively as well. In the first chart below which displays the metric month over month, we can see a similar pattern of behaviour in relation to NFT trading activity in the Algorand ecosystem.
What Projects Are The Most Popular, Generating The Most Transaction Volume This Month?
Last but not least, we want to take a look at the top 5 projects that are generating the most volume in May, 2022. The top 5 NFT projects by volume in May 2022 on Algorand are:
- Pixel Squierrels
- SMC
- Alvatar
- Goon Squad Elite
- Alchemon
In this post, we will be looking at wallet activity with regards to Algorand NFTs. Every section talks about one aspect with an accompanying chart to provide visuals.
What is an NFT on Algorand? An NFT with respect to the Algorand blockchain is any asset with a total supply of 1 since by design, NFTs should be non-fungible, thus, unique in their own right.
Let's dig in!
We can see from the chart that the number of wallets trading NFTs on Algorand didn't pick up until April 2021 and it has been on the rise until it peaked at 70k wallets in May 2022.
According to our investigations, there are 2,163,330 Algorand NFT owners representing a percentage of 18% of the total Algorand population.
We can see from the chart below that cumulatively, there are about 24.7k wallets that mint NFTs on Algorand and then put them up for sale.