70% of all NFT collections on OpenSea don’t have any sales in the last 7 days, according to a new study by Meta Generation.
The research also shows that the average entry price for an NFT collection is 0.15 ETH based on the cost of collections less than 1 ETH. Also, collections that are under 1 ETH make up 88.8% of the market.
To complete the study, Meta Generation scraped the entirety of OpenSea and analyzed 10,325 NFT collections. The main goal of their research was to better understand the NFT market today and find aspects that make a difference in this industry.
Their analysis also investigated several factors that highly impact the whole NFT market.
Most people prefer the Ethereum blockchain for their NFTs: The study found that 96.2% of all NFT collections on OpenSea live on the ETH blockchain. Meanwhile, 3.4% are based on Polygon and 0.4% are based on Klaytn.
OpenSea trading volume is high: The analysis discovered that the total trading volume of all NFT collections on the Ethereum blockchain equals around $25B.
Impact of NFT collection size: Bigger collection count correlates with higher sales volume and number of owners.
People prefer to buy more than 1 NFT from the same collection: This research found that NFT collections have 39.5% unique owners on average. In other words, each person owns 2.5 NFTs from the same collection.
OpenSea’s impact on gas fees is high: When it comes to gas fees, ****OpenSea burns 15.78% of all Ethereum gas usage per month on an average basis.
Complete Study Results: https://metageneration.io/blog/nft-statistics/
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